Duplex with Outdoor
For Sale
$375,000
Pending
1 Lakeview Drive, Plumsted, NJ 08533
MULTI_FAMILY - Plumsted, NJ
Property Size1,760 SF
Lot Size0.14 Acres
Days on Market48
Property Features for 1 Lakeview Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 1
Parking features
On Street
Basement
Full
View
Water
Middle school
New Egypt
High school
New Egypt
Directions
Main St to Lakeview - Across from Tooties
Subdivision
Plumsted
Standard status
Pending
APN
24-00030-0000-00015
Size
1,760 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7779
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
outdoor storage area
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Wood, Tile - Ceramic
Building materials
Aluminum Siding
Roof type
Shingle
Listing Agency:
Smires & Associates Bordentown
(609) 298-9888
Listed By:
James Traynham · License #1327427
(609) 298-9888
Added: Jun 26
Changed: Aug 7
Last Checked: Aug 12 at 2:06PM
MLS# 22619515
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two spacious 2-bedroom, 1-bath units. Interior finishes include wood and ceramic tile flooring, with baseboard heat throughout. The property is built with aluminum siding and a shingle roof, and includes public water and public sewer service.
Additional conveniences include an outdoor storage area for tools, bicycles, and seasonal items. Parking is available on-street. The duplex was built in 1920.
With two separate residential units, this layout supports flexible living and rental use based on how a buyer intends to occupy the property.
Additional conveniences include an outdoor storage area for tools, bicycles, and seasonal items. Parking is available on-street. The duplex was built in 1920.
With two separate residential units, this layout supports flexible living and rental use based on how a buyer intends to occupy the property.
Key Highlights
- Two 2‑bedroom, 1‑bath units in a duplex layout
- Wood and ceramic tile flooring
- Outdoor storage area for tenants or owners
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,456
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$589,120
$589.1K
Cap Rate 7%
$420,800
$420.8K
Cap Rate 9%
$327,289
$327.3K
Market Conditions
NOI Build-Up for 1,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.0K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$42.1K $23.91/SF
− OpEx
−$12.6K −$7.17/SF
NOI
$29.5K $16.74/SF
Area
Ocean County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$589,120
Cap Rate 7%
$420,800
Cap Rate 9%
$327,289
Alternative Uses
Best Use
Multifamily LT 5
$420.8K
$368.2K – $490.9K
NOI $29,456 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$386.6K
$338.3K – $451.1K
NOI $27,065 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$459.6K
$402.1K – $536.2K
NOI $32,170 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 08533, NJ
6,764
Population
2,625
Households
2.6
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
54.9 sq mi
ZIP Area
123
Density / Sq Mi
$101,982
Median Household Income
$51,358
Median Earnings
$1,662
Median Rent
$471,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two 2-bedroom, 1-bath units, wood flooring, and public utilities.
Where is this duplex located?
The property is located at 1 Lakeview Drive Plumsted, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units in a duplex layout; Wood and ceramic tile flooring; Outdoor storage area for tenants or owners
