Duplex with Detached
For Sale
$1,225,000
105 Prospect Avenue, Red Bank, NJ 07701
Two three-bedroom apartments share owned solar panels and four-car garage capacity.
Property Size2,752 SF
Days on Market8
Property Features for 105 Prospect Avenue
General Information
Standard status
Active
Size
2,752 SF
Total Parking Spaces
4
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,476
Amenities
solar panels
central air conditioning
hardwood floors
Building Details
Building Size
2,752 SF
Year Built
1940
Listing Agency:
Real Broker, LLC- Red Bank
Listed By:
Patricia G Norkus
(855) 653-6723
Source:
Sackmanrealty
Added: Oct 30
Changed: Nov 5
Last Checked: Nov 4 at 8:47PM
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 Real Broker, LLC- Red Bank
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Investment Insights
Based on property information with market context.
This 2,752-square-foot duplex, built in 1940, contains two three-bedroom apartments. The upper unit has a new kitchen, while the lower unit’s kitchen has been updated. Both apartments have hardwood floors, full bathrooms, cast-iron heat, and central air conditioning.
Garage space totals four cars, with two spaces in the basement and two in a separate detached garage. The detached structure has 14-foot ceilings. Owned solar panels serve the units and help offset electricity costs.
Garage space totals four cars, with two spaces in the basement and two in a separate detached garage. The detached structure has 14-foot ceilings. Owned solar panels serve the units and help offset electricity costs.
Key Highlights
- Two apartments, each with three bedrooms
- 2,752 square feet; built in 1940
- Four‑car garage capacity, split between basement and detached garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,058
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$921,160
$921.2K
Cap Rate 7%
$657,971
$658.0K
Cap Rate 9%
$511,756
$511.8K
Market Conditions
NOI Build-Up for 2,752 SF
Gross rent
$70.3K $25.56/SF
− Vacancy
−$4.5K −$1.65/SF
EGI
$65.8K $23.91/SF
− OpEx
−$19.7K −$7.17/SF
NOI
$46.1K $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%
$921,160
Cap Rate 7%
$657,971
Cap Rate 9%
$511,756
Alternative Uses
Best Use
Multifamily LT 5
$658.0K
$575.7K – $767.6K
NOI $46,058 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$604.6K
$529.0K – $705.3K
NOI $42,320 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$718.6K
$628.8K – $838.4K
NOI $50,302 @ 7.0% cap · market cap 4.11%
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
343
Businesses Nearby
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Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Monmouth County, NJ
Properties on Market for Duplexes in Monmouth County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments share owned solar panels and four-car garage capacity.
Where is this duplex located?
The property is located at 105 Prospect Avenue Red Bank, NJ.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Two apartments, each with three bedrooms; 2,752 square feet; built in 1940; Four‑car garage capacity, split between basement and detached garages
