Updated Duplex with Detached
New
For Sale
$1,699,900
104 Morris Ave, Long Branch, NJ 07740
Income-producing two-family residence on a corner parcel two blocks from the beach, Pier Village, and NJ Transit.
Property Size3,491 SF
Lot Size0.40 Acres
Price / SF$486.94
Days on Market4
Property Features for 104 Morris Ave
General Information
Standard status
Active
Size
3,491 SF
Lot size
0.40 Acres
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
detached garage
Building Details
Year Built
1910
Buildings
1
Listing Agency:
EXP Realty
Listed By:
Jamie Arcykiewicz
Source:
Goldstandardrealty
Added: Sep 22
Last Checked: Sep 24 at 2:11PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This income-producing duplex occupies an oversized 0.4-acre corner lot and includes a detached garage. Recent work includes replacement windows, fresh interior paint, updated mechanical systems, new sheetrock, and additional improvements. The property offers an existing two-family configuration for continued rental use or owner occupancy.
At 104 Morris Ave in Long Branch, the property is positioned two blocks from the beach, Pier Village, and NJ Transit. Its location and large corner parcel provide a practical residential income-property profile with flexibility for an investor or an owner-occupant.
At 104 Morris Ave in Long Branch, the property is positioned two blocks from the beach, Pier Village, and NJ Transit. Its location and large corner parcel provide a practical residential income-property profile with flexibility for an investor or an owner-occupant.
Key Highlights
- Income‑producing two‑family property on an oversized 0.4‑acre corner lot
- Detached garage included
- Two blocks from the beach, Pier Village, and NJ Transit
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
$58,426
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
3.44%
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%
$1,168,520
$1.2M
Cap Rate 7%
$834,657
$834.7K
Cap Rate 9%
$649,178
$649.2K
Market Conditions
NOI Build-Up for 3,491 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
$89.2K $25.56/SF
− Vacancy
−$5.8K −$1.65/SF
EGI
$83.5K $23.91/SF
− OpEx
−$25.0K −$7.17/SF
NOI
$58.4K $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%
$1,168,520
Cap Rate 7%
$834,657
Cap Rate 9%
$649,178
Alternative Uses
Best Use
Multifamily LT 5
$834.7K
$730.3K – $973.8K
NOI $58,426 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$766.9K
$671.1K – $894.8K
NOI $53,685 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$911.6K
$797.6K – $1.06M
NOI $63,810 @ 7.0% cap · market cap 3.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,383
Businesses Nearby
Explore this area
Business Placement
Demographics for 07740, NJ
31,905
Population
15,208
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
84%
High-School Grad
5.3 sq mi
ZIP Area
6,020
Density / Sq Mi
$73,806
Median Household Income
$38,614
Median Earnings
$1,744
Median Rent
$521,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing two-family residence on a corner parcel two blocks from the beach, Pier Village, and NJ Transit.
Where is this duplex located?
The property is located at 104 Morris Ave Long Branch, NJ.
What is the asking price?
The asking price for this property is $1,699,900.
What are key features of this property?
This property features: Income‑producing two‑family property on an oversized 0.4‑acre corner lot; Detached garage included; Two blocks from the beach, Pier Village, and NJ Transit
