Two-Unit Duplex Renovation
New
For Sale
$599,900
Pending
1001 Sewall Ave, Asbury Park, NJ 07712
Duplex with two residential units requiring comprehensive renovation and reconstruction of a detached side structure.
Property Size1,840 SF
Days on Market3
Property Features for 1001 Sewall Ave
General Information
Standard status
Pending
Size
1,840 SF
Property subtype
Investment
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,682
Building Details
Building Size
1,840 SF
Year Built
1920
Units
3
Listing Agency:
Better Homes Realty
(732) 264-9511
Listed By:
Elizabeth Buccigrossi · License #9910559
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 5:36AM
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 Better Homes Realty
Investment Insights
Based on property information with market context.
This two-unit duplex contains matching layouts, with each residence offering two bedrooms and one bathroom. The property requires a complete renovation, while a small structure positioned beside the main building will need to be rebuilt. Constructed in 1920, the asset is located at 1001 Sewall Ave in Asbury Park, New Jersey. Walk Score is 28, and Bike Score is 44.
Key Highlights
- Two‑unit duplex with two bedrooms and one bathroom per unit
- Complete renovation required throughout the property
- Small structure beside the main building requires rebuilding
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
$30,795
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
5.13%
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%
$615,900
$615.9K
Cap Rate 7%
$439,929
$439.9K
Cap Rate 9%
$342,167
$342.2K
Market Conditions
NOI Build-Up for 1,840 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
$47.0K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$44.0K $23.91/SF
− OpEx
−$13.2K −$7.17/SF
NOI
$30.8K $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%
$615,900
Cap Rate 7%
$439,929
Cap Rate 9%
$342,167
Alternative Uses
Best Use
Multifamily LT 5
$439.9K
$384.9K – $513.3K
NOI $30,795 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$404.2K
$353.7K – $471.6K
NOI $28,296 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$480.5K
$420.4K – $560.5K
NOI $33,632 @ 7.0% cap · market cap 5.61%
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
2,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
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 - Duplex with two residential units requiring comprehensive renovation and reconstruction of a detached side structure.
Where is this duplex located?
The property is located at 1001 Sewall Ave Asbury Park, NJ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and one bathroom per unit; Complete renovation required throughout the property; Small structure beside the main building requires rebuilding
