Ranch Duplex in 55+
For Sale
$224,900
45 Dogwood Road, Manahawkin, NJ 08050
Residential, Duplex, Manahawkin, NJ
Property Size1,126 SF
Lot Size0.03 Acres
Price / SF$199.73
Days on Market45
Property Features for 45 Dogwood Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Bedroom 2, Dining Room, Bathroom 2, Bathroom 1, Laundry Room, Bedroom 1
Parking
1
Parking features
Driveway
Patio and Porch features
Patio
Pets allowed
Dogs OK, Cats OK
Interior features
Attic - Pull Down Stairs
Basement
Crawl Space
Subdivision
Fawn Lakes
Middle school
Southern Reg
High school
Southern Reg
Directions
Rt72 West to Fawn Lakes Entrance right on Sycamore left onto Dogwood
Standard status
Active
APN
31-00038-0000-00002-0000-C0008
Size
1,126 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2028
HOA Fee
$577 Quarterly
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Multi Units
Water source
Public
Amenities
clubhouse
inground pool
billiards
bocce
shuffleboard
social activities
Building Details
Year built
1979
Floors in Building
1
Building materials
Brick Veneer
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
RE/MAX of Long Beach Island
(609) 494-7000
Listed By:
Patricia M Romano · License #121173
(609) 312-9043
Added: Jul 27
Changed: Sep 5
Last Checked: Sep 9 at 4:06AM
MLS# 22622839
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 1,126-square-foot ranch-style duplex was built in 1979 and sits on a 0.03-acre lot in Fawn Lakes, a 55+ community. The interior includes two bedrooms, two bathrooms, a dining room, laundry room, and an attic with pull-down stairs. A sunroom/den extends the living area, while brick veneer, shingle roofing, electric heat, and multi-unit cooling are among the property features.
The home includes a patio and driveway parking. Public water and public sewer serve the property. Community amenities include a clubhouse, inground pool, billiards, bocce, shuffleboard, and organized social activities. The property is located near Long Beach Island beaches and Atlantic City.
The home includes a patio and driveway parking. Public water and public sewer serve the property. Community amenities include a clubhouse, inground pool, billiards, bocce, shuffleboard, and organized social activities. The property is located near Long Beach Island beaches and Atlantic City.
Key Highlights
- 1,126‑square‑foot ranch‑style duplex built in 1979
- Located in Fawn Lakes, a 55+ community
- Two bedrooms, two bathrooms, sunroom/den, dining room, and laundry room
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
$18,845
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
8.38%
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%
$376,900
$376.9K
Cap Rate 7%
$269,214
$269.2K
Cap Rate 9%
$209,389
$209.4K
Market Conditions
NOI Build-Up for 1,126 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
$28.8K $25.56/SF
− Vacancy
−$1.9K −$1.65/SF
EGI
$26.9K $23.91/SF
− OpEx
−$8.1K −$7.17/SF
NOI
$18.8K $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%
$376,900
Cap Rate 7%
$269,214
Cap Rate 9%
$209,389
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.6K – $314.1K
NOI $18,845 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$247.4K
$216.5K – $288.6K
NOI $17,316 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$294.0K
$257.3K – $343.0K
NOI $20,581 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 08050, NJ
26,507
Population
14,182
Households
1.9
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
30.9 sq mi
ZIP Area
858
Density / Sq Mi
$115,456
Median Household Income
$60,458
Median Earnings
$1,756
Median Rent
$377,100
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 - Open layout includes a sunroom/den, patio, driveway parking, and public water and sewer.
Where is this duplex located?
The property is located at 45 Dogwood Road Manahawkin, NJ.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,126‑square‑foot ranch‑style duplex built in 1979; Located in Fawn Lakes, a 55+ community; Two bedrooms, two bathrooms, sunroom/den, dining room, and laundry room
