Duplex with Bay
For Sale
$789,900
Pending
614 Bay Boulevard, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size1,910 SF
Lot Size0.06 Acres
Days on Market94
Property Features for 614 Bay Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
3
Parking features
Off Street
Patio and Porch features
Patio
Fencing
Fenced
Basement
Crawl Space
Lot features
Bayside, Fenced Area
View
Water
Directions
Route 37 to Route 35 to Bay Blvd
Subdivision
Seaside Heights
Standard status
Pending
APN
27-00031-0000-00031-02
Size
1,910 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8486
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Central Air, Zoned
Water source
Public
Water front
1
Amenities
bay views
paver patio
vinyl fencing
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Revolution
(732) 678-1328
Listed By:
Justin Bosak · License #0449068
(732) 644-6217
Added: Jun 12
Changed: Sep 12
Last Checked: Sep 13 at 6:06AM
MLS# 22617837
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 duplex contains two residential units, each arranged with two bedrooms and one bathroom, for a total of 1,910 square feet. The upper unit has been recently renovated and includes bay views. Zoned heating and central air conditioning serve the property, with public water and public sewer in place.
Outdoor features include a paver patio and a fully enclosed vinyl-fenced yard. Off-street parking accommodates 3 vehicles, with additional parking available across the street. Located on the bay side of Seaside Heights at 614 Bay Boulevard, the property is directly across from Sunset Beach and offers access to nearby waterfront recreation and views.
Outdoor features include a paver patio and a fully enclosed vinyl-fenced yard. Off-street parking accommodates 3 vehicles, with additional parking available across the street. Located on the bay side of Seaside Heights at 614 Bay Boulevard, the property is directly across from Sunset Beach and offers access to nearby waterfront recreation and views.
Key Highlights
- Two units, each with 2 bedrooms and 1 bath
- 1,910 square feet of total property size
- Recently renovated upper unit with bay views
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
$31,966
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
4.05%
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%
$639,320
$639.3K
Cap Rate 7%
$456,657
$456.7K
Cap Rate 9%
$355,178
$355.2K
Market Conditions
NOI Build-Up for 1,910 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
$48.8K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$45.7K $23.91/SF
− OpEx
−$13.7K −$7.17/SF
NOI
$32.0K $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%
$639,320
Cap Rate 7%
$456,657
Cap Rate 9%
$355,178
Alternative Uses
Best Use
Multifamily LT 5
$456.7K
$399.6K – $532.8K
NOI $31,966 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$419.6K
$367.2K – $489.5K
NOI $29,372 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$498.7K
$436.4K – $581.9K
NOI $34,912 @ 7.0% cap · market cap 4.42%
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
636
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 - Two residential units include renovated upper-level space, an outdoor patio, an enclosed yard, and off-street parking.
Where is this duplex located?
The property is located at 614 Bay Boulevard Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bath; 1,910 square feet of total property size; Recently renovated upper unit with bay views
