Updated Two-Unit
For Sale
$575,000
170 Forest Avenue, Keansburg, NJ 07734
Residential, Duplex, Keansburg, NJ
Property Size1,360 SF
Lot Size0.14 Acres
Price / SF$422.79
Days on Market22
Property Features for 170 Forest Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Patio and Porch features
Patio
Exterior features
Storage
Fencing
Fenced
Basement
Crawl Space
Directions
GPS 170 Forest Ave, Keansburg, NJ 07734
Standard status
Active
APN
23-00152-0000-00005
Size
1,360 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7391
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
fenced corner lot
paver patio/walkways
ramp access
outdoor lighting
detached garage
2 newer sheds
attic storage
Building Details
Year built
1928
Floors in Building
2
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
VRI Homes
(732) 264-9593
Listed By:
Anthony Genovese · License #NJ1859350
(848) 294-1903
Added: Aug 13
Changed: Sep 2
Last Checked: Sep 3 at 5:06AM
MLS# 22625161
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 1,360-square-foot duplex, built in 1928, is arranged as two separate 1BR/1BA units with individual kitchens and living areas. The layout can also accommodate one household that wants distinct living spaces. Improvements include new laminate flooring upstairs, fresh paint, replacement doors, updated bathrooms, a refreshed lower-level kitchen, refinished hardwood floors, and a newer upstairs hot water heater.
The property occupies a 0.14-acre fenced corner lot with a paver patio, paved walkways, ramp access, exterior lighting, and a fresh blacktop three-car driveway. A detached garage, two newer sheds, and attic storage add utility. Each unit has separate gas and electric service, while water and sewer are shared and publicly supplied. The property is near the Bayshore waterfront, beach, amusement park, shopping, dining, transit, and the Raritan Bay shoreline.
The property occupies a 0.14-acre fenced corner lot with a paver patio, paved walkways, ramp access, exterior lighting, and a fresh blacktop three-car driveway. A detached garage, two newer sheds, and attic storage add utility. Each unit has separate gas and electric service, while water and sewer are shared and publicly supplied. The property is near the Bayshore waterfront, beach, amusement park, shopping, dining, transit, and the Raritan Bay shoreline.
Key Highlights
- Two separate 1BR/1BA units within a 1,360‑square‑foot duplex
- 0.14‑acre fenced corner lot with paver patio and walkways
- Fresh blacktop three‑car driveway plus detached garage
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
$22,761
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
3.96%
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%
$455,220
$455.2K
Cap Rate 7%
$325,157
$325.2K
Cap Rate 9%
$252,900
$252.9K
Market Conditions
NOI Build-Up for 1,360 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
$34.8K $25.56/SF
− Vacancy
−$2.2K −$1.65/SF
EGI
$32.5K $23.91/SF
− OpEx
−$9.8K −$7.17/SF
NOI
$22.8K $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%
$455,220
Cap Rate 7%
$325,157
Cap Rate 9%
$252,900
Alternative Uses
Best Use
Multifamily LT 5
$325.2K
$284.5K – $379.4K
NOI $22,761 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$298.8K
$261.4K – $348.6K
NOI $20,914 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$355.1K
$310.7K – $414.3K
NOI $24,859 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 07734, NJ
12,772
Population
5,349
Households
2.4
Avg Household Size
39
Median Age
22%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,513
Density / Sq Mi
$89,073
Median Household Income
$41,228
Median Earnings
$1,638
Median Rent
$310,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living areas include kitchens and independent gas and electric service, with flexibility for single-household use.
Where is this duplex located?
The property is located at 170 Forest Avenue Keansburg, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two separate 1BR/1BA units within a 1,360‑square‑foot duplex; 0.14‑acre fenced corner lot with paver patio and walkways; Fresh blacktop three‑car driveway plus detached garage
