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    Duplex with Solar Panels Title is generated by Realmo AI

    119 N Newark Ave, Ventnor, NJ 08406

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    For Sale
    $789,500

    MULTI_FAMILY - Ventnor, NJ

    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 119 N Newark Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Laundry Room, Bedroom 4, Den, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
    Patio and Porch features
    Patio, Porch
    Exterior features
    Fenced Yard, Patio, Porch
    Fencing
    Fenced
    Appliances
    Disposal, Dryer, Gas Stove, Microwave, Refrigerator, Washer
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    11892

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Electric (Heating), Natural Gas, Propane (Heating)
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Number of units
    2

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    Listing Contact
    THOMAS CRITCHLEY, ABR, SFR

    Listing agent THOMAS CRITCHLEY, ABR, SFR License #1007161

    Listing office BHHS FOX and ROACH-Margate 9218 VENTNOR AVE, NJ

    Listing date Jun 5, 2026

    MLS# 608615 Listing URL

    Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex with 2 separate apartments; 4 bedrooms and 2 bathrooms total
    • Two utility rooms plus a large full attic for storage or possible expansion
    • Second‑floor apartment features hardwood floors and an upgraded kitchen with granite countertops and center island
    • First‑floor apartment includes stained concrete flooring, two bedrooms, and an open‑concept kitchen with a granite center island
    • Outdoor features include a fenced yard, front patio, and a second‑floor porch with awning
    • Public water and public sewer; includes a modern solar panel system

    Overview

    This classic modern duplex offers two separate apartments with their own character, plus practical add-ons for everyday living. The layout includes two utility rooms and a large full attic, providing meaningful storage and potential room for future use. The first-floor apartment features stained concrete flooring, two bedrooms, and an open-concept kitchen with a granite center island, along with a comfortable living area that includes a kitchenette. The second-floor apartment has hardwood floors, two bedrooms, and a large living area flowing into an upgraded kitchen with custom cabinetry, stainless steel appliances, granite countertops, and tile flooring, also anchored by a large center island. Outdoor space includes an expansive second-floor porch with an awning and a front patio.

    The property is located in Ventnor, close to the Margate/Ventnor border, and is described as just moments from the beach and boardwalk, along with nearby entertainment.

    With two independently arranged apartments, this duplex can fit a variety of owner-occupant and income-focused scenarios, including using one unit while benefiting from separate living space. Updates and built-in storage elements like the attic and utility rooms support both comfort and day-to-day functionality. A modern solar panel system is also included, offering an additional utility-related feature for the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ventnor
    County
    Atlantic
    State
    New Jersey
    Longitude
    -74.488897
    Latitude
    39.337694

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    FAQs

    What type of property is this?
    Duplex - Two separate apartments in a modern duplex, with added utility rooms and a large full attic for storage.
    Where is this duplex located?
    The property is located at 119 N Newark Ave Ventnor, NJ.
    What is the asking price?
    The asking price for this property is $789,500.
    What are key features of this property?
    This property features: Duplex with 2 separate apartments; 4 bedrooms and 2 bathrooms total; Two utility rooms plus a large full attic for storage or possible expansion; Second‑floor apartment features hardwood floors and an upgraded kitchen with granite countertops and center island
    (609) 992-6847
    We can help!
    Listing Contact
    THOMAS CRITCHLEY, ABR, SFR
    Real Estate License ID: 1007161
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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