Updated Duplex with Covered
For Sale
$1,100,000
101 Heck Avenue, Ocean Grove, NJ 07756
Two distinct residences offer flexible living arrangements near the beach, schools, shopping, and transportation.
Property Size2,772 SF
Price / SF$396.83
Days on Market156
Property Features for 101 Heck Avenue
General Information
Standard status
Active
Size
2,772 SF
Property subtype
Multi-Family / Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$19,517
Amenities
shared laundry room
central AC
outside covered porch
Ceramic Tile, Wood
3
Other
6
3.0
0.0
No
Lighting, Storm Door(s)
Building Details
Year Built
1880
Buildings
1
Construction
seashore colonial
Listing Agency:
C21/ Solid Gold Realty
(732) 531-7772
Listed By:
Michael Danziger · License #7838934
(732) 531-7772
Source:
Compass
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 31 at 10:03PM
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 C21/ Solid Gold Realty
Investment Insights
Based on property information with market context.
This updated duplex combines a first-floor residence with a larger upper-level home spanning the second and third floors. The first unit includes a living room, formal dining room, covered porch access, updated kitchen, two bedrooms, and a remodeled full bathroom. The upper residence provides four bedrooms, an eat-in kitchen, two living areas, a remodeled full bathroom, and generous large or walk-in closets. Hardwood flooring, ceramic tile, three-zone heat, and central air conditioning are among the interior features.
A full walkout basement supplies storage space, while a shared laundry room has its own outside entrance. The property is within walking distance of the beach and is also close to schools, shopping, and transportation. Exterior features include lighting and storm doors.
A full walkout basement supplies storage space, while a shared laundry room has its own outside entrance. The property is within walking distance of the beach and is also close to schools, shopping, and transportation. Exterior features include lighting and storm doors.
Key Highlights
- Two‑family duplex with a first‑floor unit and a second residence across the second and third floors
- First unit includes 2 bedrooms, updated kitchen, formal dining room, and covered porch access
- Upper residence offers 4 bedrooms, eat‑in kitchen, two living areas, and remodeled full bathroom
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
$46,393
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
4.22%
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%
$927,860
$927.9K
Cap Rate 7%
$662,757
$662.8K
Cap Rate 9%
$515,478
$515.5K
Market Conditions
NOI Build-Up for 2,772 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
$70.9K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.3K $23.91/SF
− OpEx
−$19.9K −$7.17/SF
NOI
$46.4K $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%
$927,860
Cap Rate 7%
$662,757
Cap Rate 9%
$515,478
Alternative Uses
Best Use
Multifamily LT 5
$662.8K
$579.9K – $773.2K
NOI $46,393 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$609.0K
$532.9K – $710.5K
NOI $42,628 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$723.8K
$633.4K – $844.5K
NOI $50,668 @ 7.0% cap · market cap 4.61%
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
1,886
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 flexible living arrangements near the beach, schools, shopping, and transportation.
Where is this duplex located?
The property is located at 101 Heck Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑family duplex with a first‑floor unit and a second residence across the second and third floors; First unit includes 2 bedrooms, updated kitchen, formal dining room, and covered porch access; Upper residence offers 4 bedrooms, eat‑in kitchen, two living areas, and remodeled full bathroom
