Legal Two-Cottage
For Sale
$849,000
100 Cookman Avenue, Ocean Grove, NJ 07756
MULTI_FAMILY - Ocean Grove, NJ
Property Size1,700 SF
Lot Size0.04 Acres
Price / SF$499.41
Days on Market8
Property Features for 100 Cookman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Parking features
On Street
Patio and Porch features
Patio
Exterior features
Outdoor Grill, Lighting
Fireplace
1
Basement
Partial
Subdivision
Ocean Grove
Middle school
Neptune
Directions
East on Main Ave or Broadway to New Jersey Ave. Right On New Jersey to Cookman. Left on Cookman. Free parking on Street.
Standard status
Active
APN
35-00262-0000-00002
Size
1,700 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
16527
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Multi Units, Central Air
Water source
Public
Building Details
Year built
1929
Floors in Building
2
Number of units
2
Flooring type
Wood, Vinyl, Tile - Ceramic
Building materials
Shingle Siding
Listing Agency:
RE/MAX Gateway
(732) 361-0770
Listed By:
Thea Bowers · License #0787334
(732) 361-0770
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 10 at 6:06AM
MLS# 22623892
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 consists of two cottages with upper-level living areas and a combined 1,700 square feet on a 0.04-acre lot. The east residence includes a front porch, vaulted living room with cherry flooring and a gas fireplace, eat-in kitchen with stainless steel appliances and a washer/dryer combination, den, full bathroom, primary bedroom, and additional bedroom. Its outdoor area includes a trellised patio with a retractable awning.
The west cottage was renovated 2 years ago and offers two bedrooms, one bathroom, luxury vinyl plank flooring, stainless steel appliances, a washer/dryer combination, electric fireplaces, and a kitchen with granite surfaces. The property also has separate hot water, furnace, cooling systems, newer windows, mature perennial gardens, public water and sewer, and on-street parking. The beach is 5 short blocks away, with Asbury Park, Bradley Beach, and Main Avenue in Ocean Grove nearby.
The west cottage was renovated 2 years ago and offers two bedrooms, one bathroom, luxury vinyl plank flooring, stainless steel appliances, a washer/dryer combination, electric fireplaces, and a kitchen with granite surfaces. The property also has separate hot water, furnace, cooling systems, newer windows, mature perennial gardens, public water and sewer, and on-street parking. The beach is 5 short blocks away, with Asbury Park, Bradley Beach, and Main Avenue in Ocean Grove nearby.
Key Highlights
- Legal 2‑family property with two separate cottages and upper‑level living areas
- Combined property size of 1,700 Square Feet on 0.04 acres
- West cottage renovated 2 years ago with 2BR/1BA layout
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
$28,452
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
3.35%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
Explore this area
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
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 - Two distinct residences offer separate living spaces, outdoor areas, and utility systems within a compact coastal property.
Where is this duplex located?
The property is located at 100 Cookman Avenue 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: Legal 2‑family property with two separate cottages and upper‑level living areas; Combined property size of 1,700 Square Feet on 0.04 acres; West cottage renovated 2 years ago with 2BR/1BA layout
