Duplex with Wooded
For Sale
$999,900
1 Thompson Drive, Leonardo, NJ 07737
Multi-Family, Leonardo, NJ
Property Size2,912 SF
Lot Size1.12 Acres
Price / SF$343.37
Days on Market68
Property Features for 1 Thompson Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 3
Parking features
Off Street
Patio and Porch features
Patio, Deck
Interior features
Recessed Lighting
Exterior features
Deck
Fencing
Fenced
Lot features
Level, Wooded
Directions
Thompson Dr
Subdivision
Leonardo
Standard status
Active
APN
32-00452-0000-00003
Size
2,912 SF
Lot size
1.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12052
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Number of units
2
Flooring type
Wood
Roof type
Shingle
Listing Agency:
RE/MAX First Realty · RE/MAX International
(732) 257-3500
Listed By:
Mariya Hnatkevych · License #791413
(732) 357-6071
Added: Aug 7
Changed: Oct 2
Last Checked: Oct 13 at 3:06AM
MLS# 22624512
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 legal two-family property offers 2,912 square feet of interior space on a 1.12-acre lot. The residence includes five bedrooms, three bathrooms, a basement, wood flooring, recessed lighting, forced-air heating, and central air conditioning. A deck, patio, fencing, shingle roof, and expansive off-street driveway complete the physical improvements. Public water and public sewer serve the property.
Set back from the main road, the home borders private woods and includes substantial outdoor space. The property is within the Middletown School District and less than 10 minutes from the Seastreak Ferry. Local beaches, Leonardo State Marina, shopping, and Route 36 are also nearby.
Set back from the main road, the home borders private woods and includes substantial outdoor space. The property is within the Middletown School District and less than 10 minutes from the Seastreak Ferry. Local beaches, Leonardo State Marina, shopping, and Route 36 are also nearby.
Key Highlights
- Legal two‑family property with 2,912 square feet of interior space
- 1.12‑acre lot set back from the main road and adjoining private woods
- Five bedrooms, three bathrooms, and a basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,736
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$974,720
$974.7K
Cap Rate 7%
$696,229
$696.2K
Cap Rate 9%
$541,511
$541.5K
Market Conditions
NOI Build-Up for 2,912 SF
Gross rent
$74.4K $25.56/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.6K $23.91/SF
− OpEx
−$20.9K −$7.17/SF
NOI
$48.7K $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 Rate 5%
$974,720
Cap Rate 7%
$696,229
Cap Rate 9%
$541,511
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,736 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$639.7K
$559.8K – $746.4K
NOI $44,781 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$760.4K
$665.3K – $887.1K
NOI $53,227 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 07737, NJ
4,177
Population
1,615
Households
2.6
Avg Household Size
44
Median Age
51%
College-Educated
99%
High-School Grad
2.6 sq mi
ZIP Area
1,607
Density / Sq Mi
$134,818
Median Household Income
$68,254
Median Earnings
$1,439
Median Rent
$468,500
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 - Legal two-family residence with off-street parking, public utilities, and a deck.
Where is this duplex located?
The property is located at 1 Thompson Drive Leonardo, NJ.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Legal two‑family property with 2,912 square feet of interior space; 1.12‑acre lot set back from the main road and adjoining private woods; Five bedrooms, three bathrooms, and a basement
