Two-Unit Duplex with Attached
For Sale
$459,000
949 Round Avenue, Brick, NJ 08723
Multi-Family, Brick, NJ
Property Size1,073 SF
Lot Size0.11 Acres
Price / SF$427.77
Days on Market45
Property Features for 949 Round Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking
1
Parking features
Off Street, On Street
Directions
Cedarbridge to Jackson, left on Round Avenue
Subdivision
Cedarwood Park
Standard status
Active
APN
07-00511-0000-00008
Size
1,073 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5086
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Amenities
off-street parking
attached garage
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Wood
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Douglas Elliman of NJ LLC
Listed By:
Andre DiStefano
(732) 387-3807
Added: Aug 11
Changed: Sep 14
Last Checked: Sep 24 at 2:06PM
MLS# 22624744
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 1,073-square-foot duplex contains two independent residences, each with a kitchen, living area, full bathroom, and private entrance. The first-floor apartment has one bedroom, while the second-floor unit includes two bedrooms. Both apartments are currently rented. The property also includes an attached garage and off-street parking, with additional on-street parking available.
Built in 1960 on a 0.11-acre lot at 949 Round Avenue in Brick, New Jersey, the building has stucco construction, a shingle roof, ceramic tile and wood flooring, and oil heat. Public water and public sewer serve the property. The two-family layout offers distinct living spaces within a single residential income property.
Built in 1960 on a 0.11-acre lot at 949 Round Avenue in Brick, New Jersey, the building has stucco construction, a shingle roof, ceramic tile and wood flooring, and oil heat. Public water and public sewer serve the property. The two-family layout offers distinct living spaces within a single residential income property.
Key Highlights
- Two‑unit duplex with 1,073 square feet of building area
- First‑floor unit has 1 bedroom and 1 full bath
- Second‑floor unit includes 2 bedrooms and 1 full bath
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
$17,958
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
3.91%
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%
$359,160
$359.2K
Cap Rate 7%
$256,543
$256.5K
Cap Rate 9%
$199,533
$199.5K
Market Conditions
NOI Build-Up for 1,073 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
$27.4K $25.56/SF
− Vacancy
−$1.8K −$1.65/SF
EGI
$25.7K $23.91/SF
− OpEx
−$7.7K −$7.17/SF
NOI
$18.0K $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%
$359,160
Cap Rate 7%
$256,543
Cap Rate 9%
$199,533
Alternative Uses
Best Use
Multifamily LT 5
$256.5K
$224.5K – $299.3K
NOI $17,958 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$235.7K
$206.3K – $275.0K
NOI $16,501 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$280.2K
$245.2K – $326.9K
NOI $19,613 @ 7.0% cap · market cap 4.27%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences provide private kitchens, living areas, entrances, and off-street parking.
Where is this duplex located?
The property is located at 949 Round Avenue Brick, NJ.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,073 square feet of building area; First‑floor unit has 1 bedroom and 1 full bath; Second‑floor unit includes 2 bedrooms and 1 full bath
