Two-Cottage Duplex with
For Sale
$849,000
100 Cookman Avenue, Ocean Grove, NJ 07756
Multi-Family, Ocean Grove, NJ
Property Size1,700 SF
Lot Size0.04 Acres
Price / SF$499.41
Days on Market53
Property Features for 100 Cookman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bedroom 3, Bedroom 2
Parking features
On Street
Patio and Porch features
Patio
Exterior features
Outdoor Grill, Lighting
Fireplace
1
Basement
Partial
Subdivision
Ocean Grove
Middle school
Neptune
Directions
East on Main Ave or Broadway to New Jersey Ave. Right On New Jersey to Cookman. Left on Cookman. Free parking on Street.
Standard status
Active
APN
35-00262-0000-00002
Size
1,700 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
16527
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Central Air, Multi Units
Water source
Public
Amenities
front porch
trellised patio with retractable awning
mature perennial gardens
gas fireplace
electric fireplace
Building Details
Year built
1929
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Wood, Vinyl
Building materials
Shingle Siding
Listing Agency:
RE/MAX Gateway
(732) 361-0770
Listed By:
Thea Bowers · License #0787334
(202) 528-6933
Added: Aug 3
Changed: Sep 22
Last Checked: Sep 24 at 9:06PM
MLS# 22623892
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 legal two-family property comprises two distinct cottages, each arranged across upper and lower levels. The east residence includes a front porch, vaulted living room with cherry wood flooring, gas fireplace, built-in nook, eat-in kitchen, den, full bathroom, patio with retractable awning, primary bedroom, and additional bedroom. The west cottage offers a renovated two-bedroom, one-bath layout with LVP flooring, stainless steel appliances, granite kitchen finishes, tiled bathroom, electric fireplaces, and built-in bunk beds. Negotiable furnishings are available for the west-side residence.
Separate furnaces, cooling systems, and hot-water heaters support the two homes. The property also features newer windows, mature perennial gardens, public water and sewer, shingle siding, and on-street parking. Built in 1929, the duplex occupies 0.04 acres and is located five short blocks from the beach, with access to Asbury Park, Bradley Beach, and Ocean Grove’s Main Avenue.
Separate furnaces, cooling systems, and hot-water heaters support the two homes. The property also features newer windows, mature perennial gardens, public water and sewer, shingle siding, and on-street parking. Built in 1929, the duplex occupies 0.04 acres and is located five short blocks from the beach, with access to Asbury Park, Bradley Beach, and Ocean Grove’s Main Avenue.
Key Highlights
- Legal 2‑family property with two separate cottage residences
- 1,700 square feet on a 0.04‑acre lot
- West cottage renovated 2 years ago with 2 bedrooms and 1 bathroom
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
$28,452
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
3.35%
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%
$569,040
$569.0K
Cap Rate 7%
$406,457
$406.5K
Cap Rate 9%
$316,133
$316.1K
Market Conditions
NOI Build-Up for 1,700 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
$43.5K $25.56/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.6K $23.91/SF
− OpEx
−$12.2K −$7.17/SF
NOI
$28.5K $16.74/SF
Area
Monmouth 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%
$569,040
Cap Rate 7%
$406,457
Cap Rate 9%
$316,133
Alternative Uses
Best Use
Multifamily LT 5
$406.5K
$355.7K – $474.2K
NOI $28,452 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$373.5K
$326.8K – $435.7K
NOI $26,143 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$443.9K
$388.4K – $517.9K
NOI $31,073 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
Explore this area
Business Placement
Demographics for 07756, NJ
3,164
Population
2,831
Households
1.1
Avg Household Size
58
Median Age
64%
College-Educated
92%
High-School Grad
0.4 sq mi
ZIP Area
7,910
Density / Sq Mi
$74,410
Median Household Income
$58,148
Median Earnings
$1,212
Median Rent
$764,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Legal two-family property with separate heating, cooling, and hot-water systems serving each residence.
Where is this duplex located?
The property is located at 100 Cookman Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Legal 2‑family property with two separate cottage residences; 1,700 square feet on a 0.04‑acre lot; West cottage renovated 2 years ago with 2 bedrooms and 1 bathroom
