Two-Unit Duplex with Bay
New
For Sale
$850,000
113 N Derby, Ventnor, NJ 08406
Side-by-side residences feature granite-counter kitchens, private decks, and off-street parking.
Property Size2,268 SF
Lot Size0.09 Acres
Price / SF$374.78
Days on Market3
Property Features for 113 N Derby
General Information
Standard status
Active
Size
2,268 SF
Total Parking Spaces
2
Lot size
0.09 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Building Details
Year Built
1962
Buildings
1
Listing Agency:
BHHS FOX and ROACH-Margate
(609) 822-4200
Listed By:
Richard Dicioccio Iii · License #11255
Source:
Theoceansiderealtyteam
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 11:39PM
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 BHHS FOX and ROACH-Margate
Investment Insights
Based on property information with market context.
Built in 1962, this 2,268-square-foot duplex contains two side-by-side units with separate living areas and outdoor spaces. The right unit includes two bedrooms, one full bathroom, a galley kitchen with granite countertops and stainless steel appliances, a dining area, laundry room, and front deck. The left unit offers four bedrooms, two full bathrooms, a comparable kitchen, two first-floor bedrooms, and a second-floor deck with bay views.
The property sits on a 50' x 80' lot and includes an additional 20' x 24' yard with a storage shed. Two off-street parking spaces are provided. The beach, boardwalk, Ventnor Heights shops and restaurants, and shopping are all within walking distance. The layout supports several documented use options, including occupying one unit while renting the other, using the property as a multi-generational shore home, or renting both units.
The property sits on a 50' x 80' lot and includes an additional 20' x 24' yard with a storage shed. Two off-street parking spaces are provided. The beach, boardwalk, Ventnor Heights shops and restaurants, and shopping are all within walking distance. The layout supports several documented use options, including occupying one unit while renting the other, using the property as a multi-generational shore home, or renting both units.
Key Highlights
- Two side‑by‑side units totaling 2,268 square feet
- Right unit includes 2 bedrooms, 1 full bathroom, laundry room, and front deck
- Left unit offers 4 bedrooms, 2 full bathrooms, and a second‑floor deck with bay views
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
$25,829
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
3.04%
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%
$516,580
$516.6K
Cap Rate 7%
$368,986
$369.0K
Cap Rate 9%
$286,989
$287.0K
Market Conditions
NOI Build-Up for 2,268 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
$39.5K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$36.9K $16.27/SF
− OpEx
−$11.1K −$4.88/SF
NOI
$25.8K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /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%
$516,580
Cap Rate 7%
$368,986
Cap Rate 9%
$286,989
Alternative Uses
Best Use
Multifamily LT 5
$369.0K
$322.9K – $430.5K
NOI $25,829 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$324.3K
$283.8K – $378.4K
NOI $22,702 @ 7.0% cap · market cap 2.67%
Theoretical Best
Warehouse
$844.6K
$739.0K – $985.4K
NOI $59,121 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 08406, NJ
9,188
Population
7,772
Households
1.2
Avg Household Size
51
Median Age
38%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
4,594
Density / Sq Mi
$75,034
Median Household Income
$51,057
Median Earnings
$1,460
Median Rent
$345,300
Median Home Value
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 - Side-by-side residences feature granite-counter kitchens, private decks, and off-street parking.
Where is this duplex located?
The property is located at 113 N Derby Ventnor, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two side‑by‑side units totaling 2,268 square feet; Right unit includes 2 bedrooms, 1 full bathroom, laundry room, and front deck; Left unit offers 4 bedrooms, 2 full bathrooms, and a second‑floor deck with bay views
