Two-Cottage Duplex with Separate
100 Cookman Ave, Ocean Grove, NJ 07756
For Sale
$849,000
Two distinct cottages offer separate systems, flexible layouts, and character-rich indoor and outdoor spaces.
Property Size1,700 SF
Price / SF$499.41
Days on Market93
Property Features for 100 Cookman Ave
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
RE/MAX Gateway
Listed By:
Thea Bowers · License #0787334
(202) 528-6933
Source:
Obrienrealtyllc
Added: Aug 9
Changed: Oct 26
Last Checked: Nov 8 at 9:40AM
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 RE/MAX Gateway
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Investment Insights
Based on property information with market context.
This duplex comprises two individually styled cottages with upper levels and a combined 1,700 square feet of living area. The east cottage includes a vaulted living room with cherry flooring, built-in storage, a gas fireplace, eat-in kitchen, den, full bath, front porch, and private patio with retractable awning. Its upper level contains a primary bedroom and bonus bedroom. The west cottage provides a two-bedroom, one-bath layout with a renovated interior, luxury vinyl plank flooring, stainless steel appliances, granite kitchen finishes, a tiled bath, and multiple electric fireplaces. Furnishings in the west cottage are negotiable.
Separate hot-water heaters, furnaces, and cooling systems serve the cottages. Newer windows and established perennial gardens add to the property’s physical improvements. Built in 1929, the duplex is located at 100 Cookman Avenue in Ocean Grove, five short blocks from the beach and near the main avenues of Asbury Park, Bradley Beach, and Ocean Grove.
Separate hot-water heaters, furnaces, and cooling systems serve the cottages. Newer windows and established perennial gardens add to the property’s physical improvements. Built in 1929, the duplex is located at 100 Cookman Avenue in Ocean Grove, five short blocks from the beach and near the main avenues of Asbury Park, Bradley Beach, and Ocean Grove.
Key Highlights
- Duplex includes 2 cottages with upper levels and 1,700 square feet of combined living area
- Separate HWH, furnace, and cooling systems serve each cottage
- West cottage renovated 2 years ago with 2BR/1BA layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,452
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$569,040
$569.0K
Cap Rate 7%
$406,457
$406.5K
Cap Rate 9%
$316,133
$316.1K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$43.5K $25.56/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.6K $23.91/SF
− OpEx
−$12.2K −$7.17/SF
NOI
$28.5K $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 Rate 5%
$569,040
Cap Rate 7%
$406,457
Cap Rate 9%
$316,133
Alternative Uses
Best Use
Multifamily LT 5
$406.5K
$355.7K – $474.2K
NOI $28,452 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$373.5K
$326.8K – $435.7K
NOI $26,143 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$443.9K
$388.4K – $517.9K
NOI $31,073 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
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Business Placement
Demographics for 07756, NJ
3,164
Population
2,831
Households
1.1
Avg Household Size
58
Median Age
64%
College-Educated
92%
High-School Grad
0.4 sq mi
ZIP Area
7,910
Density / Sq Mi
$74,410
Median Household Income
$58,148
Median Earnings
$1,212
Median Rent
$764,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Monmouth County, NJ
Properties on Market for Duplexes in Monmouth County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct cottages offer separate systems, flexible layouts, and character-rich indoor and outdoor spaces.
Where is this duplex located?
The property is located at 100 Cookman Ave Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Duplex includes 2 cottages with upper levels and 1,700 square feet of combined living area; Separate HWH, furnace, and cooling systems serve each cottage; West cottage renovated 2 years ago with 2BR/1BA layout
