Duplex with Bay
For Sale
$799,000
523 W MAPLE Avenue, Wildwood, NJ 08260
Multi-Family, WILDWOOD, NJ
Property Size1,924 SF
Lot Size0.15 Acres
Price / SF$415.28
Days on Market33
Property Features for 523 W MAPLE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Elementary school district
WILDWOOD CITY SCHOOLS
Middle school district
WILDWOOD CITY SCHOOLS
High school district
WILDWOOD CITY SCHOOLS
Standard status
Active
Size
1,924 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
5810
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Amenities
full-length decks
covered lower porch
upper deck with bay views
private concrete driveway
fenced-in backyard
fire pit
enclosed outdoor shower
oversized elevated shed
Building Details
Year built
1950
Number of units
1
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
Keller Williams Realty - Atlantic Shore
(609) 484-9890
Listed By:
Flamur Rama · License #457770
(609) 703-9208
Added: Aug 11
Changed: Sep 5
Last Checked: Sep 12 at 1:06PM
MLS# NJCM2007694
Copyright © 2026 Bright 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 1,924-square-foot Colonial duplex, built in 1950, contains two residential units: a 3-bedroom, 1-bath upper unit and a 2-bedroom, 1-bath lower unit. Both include LVP flooring, ceiling fans, and updated kitchens. Full-length outdoor living areas serve each level, with a covered lower porch and an upper deck offering bay views. Vinyl siding, forced-air heat, central air, and ceiling fans provide additional functional features.
The property sits one block from the bay and includes a private concrete driveway with off-street parking. The 0.1469-acre lot also provides a fenced backyard with a fire pit, enclosed outdoor shower, and elevated shed. The combination of two distinct living spaces, coastal setting, and outdoor amenities supports use as a duplex residence or rental property.
The property sits one block from the bay and includes a private concrete driveway with off-street parking. The 0.1469-acre lot also provides a fenced backyard with a fire pit, enclosed outdoor shower, and elevated shed. The combination of two distinct living spaces, coastal setting, and outdoor amenities supports use as a duplex residence or rental property.
Key Highlights
- Two‑unit duplex with a 3‑bedroom upper unit and 2‑bedroom lower unit
- 1,924 square feet on a 0.1469‑acre lot
- Upper unit includes a deck with bay views; lower unit has a covered porch
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
$28,479
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
3.56%
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%
$569,580
$569.6K
Cap Rate 7%
$406,843
$406.8K
Cap Rate 9%
$316,433
$316.4K
Market Conditions
NOI Build-Up for 1,924 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
$42.7K $22.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$40.7K $21.15/SF
− OpEx
−$12.2K −$6.34/SF
NOI
$28.5K $14.80/SF
Area
Cape May County, NJ
Vacancy
4.75%
Lease Rate
$22.20 /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%
$569,580
Cap Rate 7%
$406,843
Cap Rate 9%
$316,433
Alternative Uses
Best Use
Multifamily LT 5
$406.8K
$356.0K – $474.7K
NOI $28,479 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$374.0K
$327.2K – $436.3K
NOI $26,178 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$588.9K
$515.3K – $687.1K
NOI $41,226 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
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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 - The two-unit layout includes updated kitchens, outdoor living areas, and off-street parking.
Where is this duplex located?
The property is located at 523 W MAPLE Avenue Wildwood, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with a 3‑bedroom upper unit and 2‑bedroom lower unit; 1,924 square feet on a 0.1469‑acre lot; Upper unit includes a deck with bay views; lower unit has a covered porch
