Lakefront Victorian
For Sale
$1,749,000
103 Central Avenue, Ocean Grove, NJ 07756
Multi-Family, Ocean Grove, NJ
Property Size3,099 SF
Lot Size0.06 Acres
Price / SF$564.38
Days on Market37
Property Features for 103 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 2, Bathroom 5, Bathroom 3, Bedroom 7, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 5, Basement
Parking features
On Street
Patio and Porch features
Patio
Exterior features
Lighting
Fencing
Fenced
Fireplace
1
Basement
Walk-Out Access, Full
Subdivision
Ocean Grove
View
Water
Middle school
Neptune
Directions
Main ave East to right on Central Ave
Standard status
Active
APN
35-00265-0000-00010
Size
3,099 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
22360
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Central Air, Zoned
Water source
Public
Water front features
Lake Front
Water front
1
Amenities
porch
patio
outdoor shower
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Roof type
Shingle
Buildings
1
Listing Agency:
Jack Green Realty
Listed By:
Michelle Green
(732) 776-6400
Added: Sep 30
Changed: Nov 1
Last Checked: Nov 5 at 1:06PM
MLS# 22630770
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.
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Investment Insights
Based on property information with market context.
Built in 1911, this two-family Victorian includes a first-floor apartment with two bedrooms and two bathrooms, plus additional living space across the upper floors. The upper levels include a primary bedroom with an en-suite bathroom, other bedrooms, and flexible rooms. Features include hardwood floors, renovated kitchens, a porch, patio, fenced yard, and outdoor shower. Heating and cooling are zoned, with forced-air heat and central air conditioning.
The property occupies a 0.06-acre lot at 103 Central Avenue in Ocean Grove. It fronts a lake and has views of the lake and ocean. Public water and sewer serve the property; parking is on street.
The property occupies a 0.06-acre lot at 103 Central Avenue in Ocean Grove. It fronts a lake and has views of the lake and ocean. Public water and sewer serve the property; parking is on street.
Key Highlights
- Two‑family Victorian built in 1911
- Lakefront property with lake and ocean views
- 0.06‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,865
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,300
$1.0M
Cap Rate 7%
$740,929
$740.9K
Cap Rate 9%
$576,278
$576.3K
Market Conditions
NOI Build-Up for 3,099 SF
Gross rent
$79.2K $25.56/SF
− Vacancy
−$5.1K −$1.65/SF
EGI
$74.1K $23.91/SF
− OpEx
−$22.2K −$7.17/SF
NOI
$51.9K $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 Rate 5%
$1,037,300
Cap Rate 7%
$740,929
Cap Rate 9%
$576,278
Alternative Uses
Best Use
Multifamily LT 5
$740.9K
$648.3K – $864.4K
NOI $51,865 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$680.8K
$595.7K – $794.3K
NOI $47,656 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$809.2K
$708.1K – $944.1K
NOI $56,645 @ 7.0% cap · market cap 3.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate first-floor apartment and upper-level living areas provide two distinct residential arrangements.
Where is this duplex located?
The property is located at 103 Central Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Two‑family Victorian built in 1911; Lakefront property with lake and ocean views; 0.06‑acre lot
