Duplex with Original Architectural
New
For Sale
$749,000
120 Main Avenue, Ocean Grove, NJ 07756
Multi-Family, Ocean Grove, NJ
Property Size1,272 SF
Lot Size0.04 Acres
Price / SF$588.84
Days on Market1
Property Features for 120 Main Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bedroom 2, Bedroom 3
Interior features
Attic, Balcony
Basement
Full
Middle school
Neptune
Directions
Main Ave., between Whitefield & Delaware
Subdivision
Ocean Grove
Standard status
Active
APN
35-00204-0000-00004
Size
1,272 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11380
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Amenities
hot tub
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Wood
Listing Agency:
Jack Green Realty
Listed By:
Fred Nerbel
(732) 776-6400
Added: Oct 21
Last Checked: Oct 21 at 6:06PM
MLS# 22633313
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,272-square-foot duplex dates to 1920 and is legally configured for two families, though it is currently used as a single residence. The interior includes three bedrooms, two bathrooms, wood flooring, decorative moldings, coffered ceilings, a built-in bookcase, and French doors between the living and dining rooms. A full basement provides storage and contains a washer and dryer; a mudroom connects the house to the backyard, which includes a hot tub.
The property occupies a 0.04-acre lot measuring 30 by 60 feet in Ocean Grove, New Jersey. Public water and sewer serve the property.
The property occupies a 0.04-acre lot measuring 30 by 60 feet in Ocean Grove, New Jersey. Public water and sewer serve the property.
Key Highlights
- Legal two‑family property currently used as one residence
- 1,272 square feet with three bedrooms and two bathrooms
- 0.04‑acre lot measuring 30 by 60 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,288
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,760
$425.8K
Cap Rate 7%
$304,114
$304.1K
Cap Rate 9%
$236,533
$236.5K
Market Conditions
NOI Build-Up for 1,272 SF
Gross rent
$32.5K $25.56/SF
− Vacancy
−$2.1K −$1.65/SF
EGI
$30.4K $23.91/SF
− OpEx
−$9.1K −$7.17/SF
NOI
$21.3K $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%
$425,760
Cap Rate 7%
$304,114
Cap Rate 9%
$236,533
Alternative Uses
Best Use
Multifamily LT 5
$304.1K
$266.1K – $354.8K
NOI $21,288 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$279.4K
$244.5K – $326.0K
NOI $19,561 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$332.1K
$290.6K – $387.5K
NOI $23,250 @ 7.0% cap · market cap 3.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,921
Businesses Nearby
Explore this area
Business Placement
Demographics for 07756, NJ
3,164
Population
2,831
Households
1.1
Avg Household Size
58
Median Age
64%
College-Educated
92%
High-School Grad
0.4 sq mi
ZIP Area
7,910
Density / Sq Mi
$74,410
Median Household Income
$58,148
Median Earnings
$1,212
Median Rent
$764,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Currently configured as one residence, the legal two-family property includes a basement and a backyard with a hot tub.
Where is this duplex located?
The property is located at 120 Main Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Legal two‑family property currently used as one residence; 1,272 square feet with three bedrooms and two bathrooms; 0.04‑acre lot measuring 30 by 60 feet
