Renovation-Ready
For Sale
$599,900
Pending
1001 Sewall Avenue, Asbury Park, NJ 07712
MULTI_FAMILY - Asbury Park, NJ
Property Size1,840 SF
Days on Market8
Property Features for 1001 Sewall Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Basement, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 3
Basement
Full
Directions
Memorial Drive to Sewall Avenue
Subdivision
SW Asbury Pk
Standard status
Pending
APN
04-00501-0000-00003
Size
1,840 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10682
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Listing Agency:
VRI Homes
(732) 264-9511
Listed By:
Elizabeth Buccigrossi · License #9910559
(732) 264-9511
Added: Aug 3
Changed: Aug 7
Last Checked: Aug 10 at 7:06PM
MLS# 22623948
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 1,840-square-foot duplex, built in 1920, contains two residential units. Each unit is arranged with two bedrooms and one bathroom, creating a defined two-unit configuration for a comprehensive renovation project. The property requires substantial work, and a small structure positioned alongside the main building also needs to be rebuilt.
Public water and public sewer serve the property. The asset is located at 1001 Sewall Avenue in Asbury Park, Monmouth County, New Jersey. Cash offers only.
Public water and public sewer serve the property. The asset is located at 1001 Sewall Avenue in Asbury Park, Monmouth County, New Jersey. Cash offers only.
Key Highlights
- Two‑unit duplex with 1,840 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Built in 1920
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide a full renovation project, with an additional small structure requiring reconstruction.
Where is this duplex located?
The property is located at 1001 Sewall Avenue 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 1,840 square feet; Each unit includes 2 bedrooms and 1 bathroom; Built in 1920
