Updated Two-Unit
For Sale
$575,000
170 Forest Avenue, Keansburg, NJ 07734
Multi-Family, Keansburg, NJ
Property Size1,500 SF
Lot Size0.14 Acres
Price / SF$383.33
Days on Market20
Property Features for 170 Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
Basement
Crawl Space
Directions
GPS 170 forest
Standard status
Active
APN
23-00152-0000-00005
Size
1,500 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
fenced yard
paver patio
ramp access
outdoor lighting
detached garage
sheds
attic storage
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Listing Agency:
VRI Homes
(732) 264-9593
Listed By:
Anthony Genovese · License #NJ1859350
(732) 264-9593
Added: Aug 13
Changed: Aug 23
Last Checked: Sep 1 at 4:06PM
MLS# 22625157
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 1,500-square-foot duplex contains two independent one-bedroom, one-bath residences, each arranged with its own kitchen and living area. The property was built in 1928 and has received several updates, including refreshed bathrooms, a renovated lower-level kitchen, new upper-level laminate flooring, refinished hardwood floors, fresh paint, new doors, and a newer upstairs hot water heater. Baseboard heat serves the building.
The 0.14-acre parcel includes a fenced yard, paver patio, ramp access, exterior lighting, a detached garage, two newer sheds, attic storage, and a three-car driveway with a recently resurfaced blacktop. Gas and electric service are separately metered, while water and sewer are shared through public systems.
The 0.14-acre parcel includes a fenced yard, paver patio, ramp access, exterior lighting, a detached garage, two newer sheds, attic storage, and a three-car driveway with a recently resurfaced blacktop. Gas and electric service are separately metered, while water and sewer are shared through public systems.
Key Highlights
- Two 1BR/1BA units within a 1,500‑square‑foot duplex
- 0.14‑acre corner lot with fenced yard and paver patio
- Detached garage, 2 newer sheds, attic storage, and 3‑car driveway
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
$25,104
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
4.37%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 1,500 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
$38.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.9K $23.91/SF
− OpEx
−$10.8K −$7.17/SF
NOI
$25.1K $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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 4.77%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments provide individual kitchens, living areas, and one bedroom and bath each.
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 1BR/1BA units within a 1,500‑square‑foot duplex; 0.14‑acre corner lot with fenced yard and paver patio; Detached garage, 2 newer sheds, attic storage, and 3‑car driveway
