Two-Unit Residential Income
For Sale
$799,000
Pending
101-103 Ridge Avenue, Asbury Park, NJ 07712
MULTI_FAMILY - Asbury Park, NJ
Property Size4,500 SF
Lot Size0.16 Acres
Days on Market188
Property Features for 101-103 Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 8, Bedroom 2, Bathroom 4, Bedroom 4, Basement, Bedroom 1
Basement
Full
Lot features
Corner Lot
Directions
Route 35 to W Lake Ave to rRdge Ave
Standard status
Pending
APN
04-01001-0000-00014
Size
4,500 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9604
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Number of units
2
Roof type
Shingle
Listing Agency:
Real Broker, LLC- Fairfield
(855) 450-0442
Listed By:
John Natale · License #278939
(855) 450-0442
Added: Feb 3
Changed: Aug 7
Last Checked: Aug 10 at 5:06PM
MLS# 22603065
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 two-building residential income property features two Colonial homes on one lot at 101-103 Ridge Avenue. Unit at 101 Ridge is a 5-bedroom, 2 full bath Colonial with a walk-up finished attic. Unit at 103 Ridge is a 3-bedroom, 2 full bath Colonial.
The property is located in Asbury Park, New Jersey 07712 (Monmouth County). The lot size is 0.16 acres, with an indicated property size of 4,500 square feet.
Both residences are configured with separate bedroom and bath counts, offering a straightforward two-home setup within a single parcel.
The property is located in Asbury Park, New Jersey 07712 (Monmouth County). The lot size is 0.16 acres, with an indicated property size of 4,500 square feet.
Both residences are configured with separate bedroom and bath counts, offering a straightforward two-home setup within a single parcel.
Key Highlights
- Two buildings on one lot: #101 Ridge and #103 Ridge.
- #101 Ridge: 5‑bedroom colonial with 2 full baths and a walk‑up finished attic.
- #103 Ridge: 3‑bedroom colonial with 2 full baths.
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
$69,201
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
8.66%
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%
$1,384,020
$1.4M
Cap Rate 7%
$988,586
$988.6K
Cap Rate 9%
$768,900
$768.9K
Market Conditions
NOI Build-Up for 4,500 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
$135.0K $30.00/SF
− Vacancy
−$9.2K −$2.04/SF
EGI
$125.8K $27.96/SF
− OpEx
−$56.6K −$12.58/SF
NOI
$69.2K $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%
$1,384,020
Cap Rate 7%
$988,586
Cap Rate 9%
$768,900
Alternative Uses
Best Use
Apartment 5plus
$988.6K
$865.0K – $1.15M
NOI $69,201 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,253 @ 7.0% cap · market cap 10.29%
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
882
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Two Colonial residences on one lot, including a 5-bedroom home with a finished walk-up attic.
Where is this single family property located?
The property is located at 101-103 Ridge Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two buildings on one lot: #101 Ridge and #103 Ridge.; #101 Ridge: 5‑bedroom colonial with 2 full baths and a walk‑up finished attic.; #103 Ridge: 3‑bedroom colonial with 2 full baths.
