Two-Home Multifamily
For Sale
$535,000
Pending
10 Central Avenue, Port Monmouth, NJ 07758
Residentially zoned property with two houses, separate storage areas, a fenced yard, and a paved four-car driveway.
Property Size1,741 SF
Days on Market235
Property Features for 10 Central Avenue
General Information
Standard status
Pending
Size
1,741 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Multiple Buildings
Zoning
Residential
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,355
Amenities
fenced in backyard
large storage shed
storage under front house
Ceramic Tile, Vinyl
Aluminum Siding, Vinyl
2
Full, Tenant Storage
3
Personal Items and lighted mirror in bedroom of small house.
2.0
0.0
No
Shingle
Fence, Shed
Building Details
Year Built
1948
Buildings
2
Listing Agency:
Keller Williams Realty West Monmouth
(732) 536-9010
Listed By:
Christine D'Anzieri · License #1005895
(732) 536-9010
Source:
Compass
Added: Jan 9
Changed: Aug 30
Last Checked: Aug 30 at 9:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty West Monmouth
Investment Insights
Based on property information with market context.
This residential multifamily property includes two houses on one parcel, offering separate living spaces within a shared ownership opportunity. The kitchens and bathrooms are described as being in very good condition, while the homes feature ceramic tile and vinyl finishes along with aluminum and vinyl siding. The property was built in 1948 and is zoned Residential.
Exterior improvements include a newly paved driveway with parking for 4 cars, a fenced backyard, and a large storage shed. The front house is raised, creating additional storage beneath it, and tenant storage is also identified among the interior features. The property is located at 10 Central Avenue in Port Monmouth, New Jersey.
Exterior improvements include a newly paved driveway with parking for 4 cars, a fenced backyard, and a large storage shed. The front house is raised, creating additional storage beneath it, and tenant storage is also identified among the interior features. The property is located at 10 Central Avenue in Port Monmouth, New Jersey.
Key Highlights
- Two houses included on one residentially zoned property
- Newly paved driveway provides parking for 4 cars
- Fenced backyard and large storage shed
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
$26,773
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
5.00%
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%
$535,460
$535.5K
Cap Rate 7%
$382,471
$382.5K
Cap Rate 9%
$297,478
$297.5K
Market Conditions
NOI Build-Up for 1,741 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
$52.2K $30.00/SF
− Vacancy
−$3.6K −$2.04/SF
EGI
$48.7K $27.96/SF
− OpEx
−$21.9K −$12.58/SF
NOI
$26.8K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$535,460
Cap Rate 7%
$382,471
Cap Rate 9%
$297,478
Alternative Uses
Best Use
Apartment 5plus
$382.5K
$334.7K – $446.2K
NOI $26,773 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.6K
$397.8K – $530.4K
NOI $31,823 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Explore this area
Business Placement
Demographics for 07758, NJ
4,942
Population
1,653
Households
3
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
3,089
Density / Sq Mi
$121,150
Median Household Income
$55,761
Median Earnings
$1,203
Median Rent
$478,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residentially zoned property with two houses, separate storage areas, a fenced yard, and a paved four-car driveway.
Where is this multifamily property located?
The property is located at 10 Central Avenue Port Monmouth, NJ.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two houses included on one residentially zoned property; Newly paved driveway provides parking for 4 cars; Fenced backyard and large storage shed
