Duplex with Pool and Loft
New
For Sale
$931,000
1118 Boulevard, Seaside Heights, NJ 08751
Two attached residences offer flexible living arrangements with outdoor recreation and substantial storage capacity.
Property Size1,750 SF
Lot Size0.09 Acres
Price / SF$532
Days on Market3
Property Features for 1118 Boulevard
General Information
Standard status
Active
Size
1,750 SF
Lot size
0.09 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 5BR/2BA, 1 x 1BR
Multifamily Units
2
Amenities
above ground pool
porch
Building Details
Year Built
1968
Buildings
2
Listing Agency:
Weichert Realtors-Toms River
Listed By:
Steven M Bloss · License #0673728
(732) 240-0500
Source:
Mynewjerseyrealestate
Added: Sep 9
Last Checked: Sep 10 at 10:57AM
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 Weichert Realtors-Toms River
Investment Insights
Based on property information with market context.
This 1968 duplex combines a 1,750-square-foot front residence with a separate one-bedroom rear home. The main dwelling provides five bedrooms and two bathrooms on one level, while the rear residence includes two loft areas for storage. An above-ground pool adds an outdoor amenity, and the elevated portion of the property contains two breakaway-wall rooms, each measuring 12 by 28 feet, along with an attic. Parking is available beneath the house.
The property sits at 1118 Boulevard in Seaside Heights, within the beach-block area. Its front porch faces the route of the St. Patrick’s and Columbus Day parades, providing a direct connection to those community events. The two-home configuration supports use as a primary residence with a separate guest dwelling or as a property with additional income potential.
The property sits at 1118 Boulevard in Seaside Heights, within the beach-block area. Its front porch faces the route of the St. Patrick’s and Columbus Day parades, providing a direct connection to those community events. The two-home configuration supports use as a primary residence with a separate guest dwelling or as a property with additional income potential.
Key Highlights
- Front home includes 5 bedrooms, 2 bathrooms, and 1,750 square feet on one level
- Separate 1‑bedroom rear home with 2 lofts
- Above‑ground pool and front porch
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
$29,288
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
3.15%
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%
$585,760
$585.8K
Cap Rate 7%
$418,400
$418.4K
Cap Rate 9%
$325,422
$325.4K
Market Conditions
NOI Build-Up for 1,750 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
$44.7K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.8K $23.91/SF
− OpEx
−$12.6K −$7.17/SF
NOI
$29.3K $16.74/SF
Area
Ocean 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%
$585,760
Cap Rate 7%
$418,400
Cap Rate 9%
$325,422
Alternative Uses
Best Use
Multifamily LT 5
$418.4K
$366.1K – $488.1K
NOI $29,288 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$384.5K
$336.4K – $448.5K
NOI $26,912 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$457.0K
$399.8K – $533.1K
NOI $31,987 @ 7.0% cap · market cap 3.44%
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
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
Median Home Value
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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 - Two attached residences offer flexible living arrangements with outdoor recreation and substantial storage capacity.
Where is this duplex located?
The property is located at 1118 Boulevard Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $931,000.
What are key features of this property?
This property features: Front home includes 5 bedrooms, 2 bathrooms, and 1,750 square feet on one level; Separate 1‑bedroom rear home with 2 lofts; Above‑ground pool and front porch
