Detached Two-House Duplex on One
For Sale
$390,000
Pending
1702 Summerfield Avenue, Neptune, NJ 07753
MULTI_FAMILY - Neptune Township, NJ
Property Size1,736 SF
Lot Size0.15 Acres
Days on Market1195
Property Features for 1702 Summerfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 3
Basement
Crawl Space
Middle school
Neptune
Directions
Ridge Ave to Summerfield Ave
Standard status
Pending
APN
35-00714-0000-00027
Size
1,736 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
5026
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Amenities
fenced yard
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Listing Agency:
Fathom Realty NJ
(856) 344-4663
Listed By:
Christian Tibok
(856) 344-4663
Added: May 11, 2023
Changed: Aug 7
Last Checked: Aug 17 at 9:06AM
MLS# 22312603
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 duplex setup features two detached houses on one lot, each with an open-concept first-floor living/dining area, kitchen, and a half bath. The first home offers 2 bedrooms and 1.1 bathrooms, along with a fenced yard. The second home offers 3 bedrooms and 1.1 bathrooms and includes off-street parking.
The property is situated on a 0.15-acre lot and totals 1,736 square feet. Heating is baseboard, and sewer service is public sewer. Both homes share a similar layout, with bedrooms and a full bath on the second floor.
Built in 1910, the configuration makes this a straightforward option for buyers seeking two detached residences under one ownership, with outdoor space tied to the first house and parking on-site for the second.
The property is situated on a 0.15-acre lot and totals 1,736 square feet. Heating is baseboard, and sewer service is public sewer. Both homes share a similar layout, with bedrooms and a full bath on the second floor.
Built in 1910, the configuration makes this a straightforward option for buyers seeking two detached residences under one ownership, with outdoor space tied to the first house and parking on-site for the second.
Key Highlights
- Two detached houses on one lot
- First home: 2 bedrooms and 1.1 bathrooms with fenced yard
- Second home: 3 bedrooms and 1.1 bathrooms with off‑street parking
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
$29,054
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
7.45%
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%
$581,080
$581.1K
Cap Rate 7%
$415,057
$415.1K
Cap Rate 9%
$322,822
$322.8K
Market Conditions
NOI Build-Up for 1,736 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
$44.4K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.5K $23.91/SF
− OpEx
−$12.5K −$7.17/SF
NOI
$29.1K $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%
$581,080
Cap Rate 7%
$415,057
Cap Rate 9%
$322,822
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.2K – $484.2K
NOI $29,054 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$381.4K
$333.7K – $444.9K
NOI $26,696 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$453.3K
$396.6K – $528.9K
NOI $31,731 @ 7.0% cap · market cap 8.14%
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
727
Businesses Nearby
Explore this area
Business Placement
Demographics for 07753, NJ
37,397
Population
16,701
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
2,337
Density / Sq Mi
$92,824
Median Household Income
$49,953
Median Earnings
$1,740
Median Rent
$390,900
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-detached-house duplex with fenced yard for the 2-bedroom unit and off-street parking for the 3-bedroom unit.
Where is this duplex located?
The property is located at 1702 Summerfield Avenue Neptune, NJ.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two detached houses on one lot; First home: 2 bedrooms and 1.1 bathrooms with fenced yard; Second home: 3 bedrooms and 1.1 bathrooms with off‑street parking
