Ranch Duplex with Whole-House
New
For Sale
$390,000
18 Scenic Drive, Freehold, NJ 07728
Residential, Duplex, Freehold, NJ
Property Size1,155 SF
Lot Size0.11 Acres
Price / SF$337.66
Days on Market3
Property Features for 18 Scenic Drive
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1
Parking features
Driveway
Fencing
Fenced
Subdivision
Heathermeade
Directions
Route 9 to Scenic Dr
Standard status
Active
APN
21-00141-01-00010
Size
1,155 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7473
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
attached garage
fully fenced yard
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile, Laminate, Carpet
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
RE/MAX Revolution
(732) 867-8617
Listed By:
Patricia Florkowski · License #452454
(732) 406-5680
Added: Sep 18
Last Checked: Sep 20 at 3:06PM
MLS# 22629565
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.
Identified as a duplex, this 1,155-square-foot ranch property was built in 1980 and includes a two-bedroom, two-bathroom configuration. Interior finishes include tile, laminate, and carpet flooring, while natural gas heating, central air, public water, and public sewer serve the property. A newer HVAC system, Generac whole-house generator, attached garage, driveway, and shingle roof add to the physical improvements. The 0.11-acre parcel also features a fenced yard and a laundry room.
The property is located in Freehold, Monmouth County, near transportation to New York City, shopping, parks, and major roadways. Its one-level ranch design and combination of utility systems, parking, and outdoor space provide a practical residential setup.
The property is located in Freehold, Monmouth County, near transportation to New York City, shopping, parks, and major roadways. Its one-level ranch design and combination of utility systems, parking, and outdoor space provide a practical residential setup.
Key Highlights
- Duplex property with 1,155 square feet of space
- Two bedrooms and two full bathrooms
- 0.11‑acre lot with fully fenced yard
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
$19,330
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
4.96%
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%
$386,600
$386.6K
Cap Rate 7%
$276,143
$276.1K
Cap Rate 9%
$214,778
$214.8K
Market Conditions
NOI Build-Up for 1,155 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
$29.5K $25.56/SF
− Vacancy
−$1.9K −$1.65/SF
EGI
$27.6K $23.91/SF
− OpEx
−$8.3K −$7.17/SF
NOI
$19.3K $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%
$386,600
Cap Rate 7%
$276,143
Cap Rate 9%
$214,778
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,330 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$253.7K
$222.0K – $296.0K
NOI $17,762 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 07728, NJ
56,444
Population
21,150
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
49.6 sq mi
ZIP Area
1,138
Density / Sq Mi
$107,042
Median Household Income
$56,824
Median Earnings
$1,941
Median Rent
$490,000
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
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Frequently Asked Questions
What type of property is this?
Duplex - One-level property with central air, an attached garage, and a fully enclosed yard.
Where is this duplex located?
The property is located at 18 Scenic Drive Freehold, 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: Duplex property with 1,155 square feet of space; Two bedrooms and two full bathrooms; 0.11‑acre lot with fully fenced yard
