Two-Unit Duplex with
For Sale
$725,000
39 Franklin Avenue, Seaside Heights, NJ 08751
Residential, Duplex, Seaside Heights, NJ
Property Size1,312 SF
Lot Size0.05 Acres
Price / SF$552.59
Days on Market55
Property Features for 39 Franklin Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bedroom 3
Parking features
On Street
Patio and Porch features
Porch, Patio, Deck
Fencing
Fenced
Lot features
Ocean Block
Directions
Ocean to Franklin Ave
Subdivision
Seaside Heights
Standard status
Active
APN
27-00003-01-00039
Size
1,312 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8400
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
large deck
private zen-like sitting area
patio
fenced yard
Building Details
Year built
1940
Floors in Building
2
Flooring type
Tile - Ceramic, Engineered
Roof type
Shingle
Architectural style
Other
Listing Agency:
Weichert Realtors-Sea Girt
(732) 974-1000
Listed By:
Patricia Johnson
(732) 793-6484
Added: Jul 28
Changed: Sep 19
Last Checked: Sep 20 at 7:06PM
MLS# 22622924
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 1,312-square-foot duplex was built in 1940 and contains two residences, each with two bedrooms, one full bathroom, gas forced-air heat, and central air. Separate meters serve the units. Interior features include ceramic tile and engineered flooring, while both kitchens have been updated with tiled floors, backsplashes, and stainless appliances. The property also includes a newer roof, covered front porch, large deck, patio, and a fenced backyard with a private sitting area.
Set on 0.05 acres in Seaside Heights, the property is on the ocean block and near Lucky Leo's, Klees Restaurant, and the Sawmill. Public water and public sewer serve the building, and parking is available on the street. The upper unit is owner-occupied, and rental history is available on request.
Set on 0.05 acres in Seaside Heights, the property is on the ocean block and near Lucky Leo's, Klees Restaurant, and the Sawmill. Public water and public sewer serve the building, and parking is available on the street. The upper unit is owner-occupied, and rental history is available on request.
Key Highlights
- Two‑unit duplex with 1,312 square feet on a 0.05‑acre lot
- Each unit includes 2 bedrooms and 1 full bathroom
- Separate metering for gas heat and central air
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
$21,958
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
3.03%
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%
$439,160
$439.2K
Cap Rate 7%
$313,686
$313.7K
Cap Rate 9%
$243,978
$244.0K
Market Conditions
NOI Build-Up for 1,312 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
$33.5K $25.56/SF
− Vacancy
−$2.2K −$1.65/SF
EGI
$31.4K $23.91/SF
− OpEx
−$9.4K −$7.17/SF
NOI
$22.0K $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%
$439,160
Cap Rate 7%
$313,686
Cap Rate 9%
$243,978
Alternative Uses
Best Use
Multifamily LT 5
$313.7K
$274.5K – $366.0K
NOI $21,958 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$288.2K
$252.2K – $336.3K
NOI $20,176 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$342.6K
$299.8K – $399.7K
NOI $23,981 @ 7.0% cap · market cap 3.31%
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
592
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Ocean-block property with updated kitchens, separate utility metering, and outdoor entertaining areas.
Where is this duplex located?
The property is located at 39 Franklin Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,312 square feet on a 0.05‑acre lot; Each unit includes 2 bedrooms and 1 full bathroom; Separate metering for gas heat and central air
