Two-Unit Duplex with Updated
New
For Sale
$995,000
745 22nd Avenue, Lake Como, NJ 07719
Multi-Family, Lake Como, NJ
Property Size2,242 SF
Lot Size0.05 Acres
Price / SF$443.80
Days on Market7
Property Features for 745 22nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential, Non-Conforming, Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 1
Parking features
Off Street
Patio and Porch features
Deck, Patio
Exterior features
Deck
Elementary school
Belmar
Middle school
Belmar
High school
Manasquan
Directions
Spring Lake 3rd Ave North to Marucchi Park and Lake Como. Make first left onto 22nd Ave. House is on left facing out to Margerum Avenue.
Standard status
Active
APN
46-00035-0000-00006
Size
2,242 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7013
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl
Roof type
Shingle
Listing Agency:
Real Broker, LLC-
Listed By:
Donna A Ahern
(732) 746-3654
Added: Sep 5
Changed: Sep 11
Last Checked: Sep 11 at 5:06PM
MLS# 22628010
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 grandfathered two-family duplex contains 2,242 square feet on a 0.05-acre lot. The upper residence offers three bedrooms, vinyl plank flooring, a skylight, and a spiral stairway leading to a carpeted third floor. The lower residence includes two bedrooms, tile flooring, and a recently updated tiled bathroom. Both units include a washer and dryer, dishwasher, refrigerator, microwave, and stove. New tankless heating and hot water systems complement a newer shingle roof and gutters. Outdoor features include a patio and deck, with off-street parking available.
The property is located near Spring Lake Marucchi Park and Behrman Park, with playgrounds, dog parks, sports fields, walking paths, and other recreational amenities nearby. Lake Como, the Spring Lake and Belmar beaches, downtown shopping, restaurants, and train stations are also in the surrounding area. Public water and public sewer serve the property.
The property is located near Spring Lake Marucchi Park and Behrman Park, with playgrounds, dog parks, sports fields, walking paths, and other recreational amenities nearby. Lake Como, the Spring Lake and Belmar beaches, downtown shopping, restaurants, and train stations are also in the surrounding area. Public water and public sewer serve the property.
Key Highlights
- Grandfathered two‑family duplex with 3 BR upstairs and 2 BR downstairs
- 2,242 square feet on a 0.05‑acre lot
- New tankless heating and hot water systems
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
$37,523
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
3.77%
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%
$750,460
$750.5K
Cap Rate 7%
$536,043
$536.0K
Cap Rate 9%
$416,922
$416.9K
Market Conditions
NOI Build-Up for 2,242 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
$57.3K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$53.6K $23.91/SF
− OpEx
−$16.1K −$7.17/SF
NOI
$37.5K $16.74/SF
Area
Monmouth 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%
$750,460
Cap Rate 7%
$536,043
Cap Rate 9%
$416,922
Alternative Uses
Best Use
Multifamily LT 5
$536.0K
$469.0K – $625.4K
NOI $37,523 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$492.5K
$431.0K – $574.6K
NOI $34,477 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$585.4K
$512.3K – $683.0K
NOI $40,980 @ 7.0% cap · market cap 4.12%
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
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 07719, NJ
21,665
Population
10,753
Households
2
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
12.7 sq mi
ZIP Area
1,706
Density / Sq Mi
$119,877
Median Household Income
$58,854
Median Earnings
$1,754
Median Rent
$628,700
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 - Grandfathered two-family property with separate living spaces, in-unit laundry, and convenient access to parks, beaches, shopping, and transit.
Where is this duplex located?
The property is located at 745 22nd Avenue Lake Como, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Grandfathered two‑family duplex with 3 BR upstairs and 2 BR downstairs; 2,242 square feet on a 0.05‑acre lot; New tankless heating and hot water systems
