Two-Unit Duplex with Fenced
For Sale
$769,999
230 Hamilton Avenue, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size1,884 SF
Lot Size0.05 Acres
Price / SF$408.70
Days on Market47
Property Features for 230 Hamilton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential, Multi-Use, Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Basement, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
1
Parking features
On Street, Carport
Patio and Porch features
Patio
Interior features
Attic - Pull Down Strs, Recessed Lighting
Exterior features
Lighting
Fencing
Fenced
Basement
Finished, Walk-Out Access, Full
Directions
Rt 37 East to Seaside Heights, bear right on inbound circle route onto Bay Blvd, left onto Hamilton Ave. 230 Hamilton Ave is on the left.
Subdivision
Seaside Heights
Standard status
Active
APN
27-00021-0000-00030
Size
1,884 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9490
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Zoned, Central Air
Water source
Public
Amenities
shared laundry
walk-in storage area
fully fenced patio
storage shed
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Wood
Building materials
Shingle Siding
Roof type
Shingle
Listing Agency:
Paradise Real Estate Group
Listed By:
Megan Kilmurray
(732) 295-1095
Added: Aug 5
Changed: Sep 17
Last Checked: Sep 20 at 7:06PM
MLS# 22624174
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 1,884-square-foot duplex on a 0.05-acre lot was built in 1930 and contains two residential units. The upper residence has three bedrooms, one full bathroom, hardwood flooring, natural light, recessed lighting, and a remodeled kitchen with stainless steel appliances, granite counters, and a tile backsplash. The lower unit provides two bedrooms, one full bathroom, and a full kitchen with granite countertops. Both units connect to the backyard, while a shared laundry area is positioned beside walk-in storage.
Outdoor improvements include a large fenced patio and storage shed. The property also offers a carport and on-street parking, central air conditioning with zoned cooling, forced-air heat, public water, and public sewer. Its location is three blocks from the beach and two blocks from the bay at 230 Hamilton Avenue in Seaside Heights, New Jersey.
Outdoor improvements include a large fenced patio and storage shed. The property also offers a carport and on-street parking, central air conditioning with zoned cooling, forced-air heat, public water, and public sewer. Its location is three blocks from the beach and two blocks from the bay at 230 Hamilton Avenue in Seaside Heights, New Jersey.
Key Highlights
- 1,884 SF duplex on a 0.05‑acre lot
- Two units: 3 bedrooms/1 bath and 2 bedrooms/1 bath
- Updated upper‑unit kitchen with stainless steel appliances, granite counters, and tile backsplash
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
$31,531
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
4.09%
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%
$630,620
$630.6K
Cap Rate 7%
$450,443
$450.4K
Cap Rate 9%
$350,344
$350.3K
Market Conditions
NOI Build-Up for 1,884 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
$48.2K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.0K $23.91/SF
− OpEx
−$13.5K −$7.17/SF
NOI
$31.5K $16.74/SF
Area
Ocean 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%
$630,620
Cap Rate 7%
$450,443
Cap Rate 9%
$350,344
Alternative Uses
Best Use
Multifamily LT 5
$450.4K
$394.1K – $525.5K
NOI $31,531 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$413.9K
$362.2K – $482.9K
NOI $28,972 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,437 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate units include updated kitchen finishes, backyard access, and shared laundry.
Where is this duplex located?
The property is located at 230 Hamilton Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $769,999.
What are key features of this property?
This property features: 1,884 SF duplex on a 0.05‑acre lot; Two units: 3 bedrooms/1 bath and 2 bedrooms/1 bath; Updated upper‑unit kitchen with stainless steel appliances, granite counters, and tile backsplash
