Updated Duplex with Detached
New
For Sale
$1,699,900
104 Morris Avenue, Long Branch, NJ 07740
Multi-Family, Long Branch, NJ
Property Size3,491 SF
Lot Size0.40 Acres
Price / SF$486.94
Days on Market5
Property Features for 104 Morris Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Basement, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
On Street, Off Street
Basement
Walk-Out Access
Lot features
Corner Lot
Middle school
Long Branch
High school
Long Branch
Directions
Corner of Morris Ave and 2nd Ave
Standard status
Active
APN
27-00228-0000-00014
Size
3,491 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11850
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Wood
Building materials
Stucco
Roof type
Shingle
Listing Agency:
EXP Realty
(866) 201-6210
Listed By:
Jamie Arcykiewicz
(973) 903-2721
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 25 at 12:06AM
MLS# 22629613
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 3,491-square-foot duplex, built in 1910, occupies a 0.4-acre corner lot and includes a detached garage. The two-family configuration includes five bedrooms, four bathrooms, a basement, wood flooring, stucco construction, shingle roofing, and multi-unit cooling. Recent work includes new windows, fresh paint, updated mechanical systems, and new sheetrock.
The property is positioned two blocks from the beach, Pier Village, and NJ Transit. Public water and public sewer serve the site, with both off-street and on-street parking available. The property can continue as an income-producing duplex or be adapted for owner occupancy, subject to applicable requirements.
The property is positioned two blocks from the beach, Pier Village, and NJ Transit. Public water and public sewer serve the site, with both off-street and on-street parking available. The property can continue as an income-producing duplex or be adapted for owner occupancy, subject to applicable requirements.
Key Highlights
- 3,491‑square‑foot duplex on a 0.4‑acre corner lot
- Two‑family property with 5 bedrooms and 4 bathrooms
- Detached garage plus off‑street and on‑street parking
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
View Realmo Analytics
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 - Recent improvements support continued use as a two-family income property on a corner lot.
Where is this duplex located?
The property is located at 104 Morris Avenue 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: 3,491‑square‑foot duplex on a 0.4‑acre corner lot; Two‑family property with 5 bedrooms and 4 bathrooms; Detached garage plus off‑street and on‑street parking
