Duplex Residential Income
For Sale
$849,000
Pending
121 N Street, Seaside Park, NJ 08752
Residential, Duplex, Seaside Park, NJ
Property Size1,552 SF
Lot Size0.11 Acres
Days on Market49
Property Features for 121 N Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning description
Residential, Condo
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking features
On Street, Driveway, Oversize
Window features
Skylight(s)
Patio and Porch features
Deck, Porch, Patio
Pets allowed
Cats OK, Dogs OK
Interior features
Attic - Pull Down Stairs, Balcony, Eat-in Kitchen, Recessed Lighting
Exterior features
Balcony
Fencing
Fenced
Lot features
Bayside
Directions
Google Maps
Subdivision
Seaside Park
Standard status
Pending
APN
28-00055-0000-00039-01-C.A1
Size
1,552 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7617
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fireplace
Building Details
Year built
1989
Floors in Building
3
Building materials
Cedar
Roof type
Shingle
Architectural style
Other
Listing Agency:
Real Broker, LLC- Fairfield
Listed By:
Jan-Michael McClintic
(855) 450-0442
Added: Aug 4
Changed: Sep 15
Last Checked: Sep 21 at 5:06AM
MLS# 22623919
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.
Investment Insights
Based on property information with market context.
Located at 121 N Street in Seaside Park, this 1,552-square-foot half-duplex condominium includes three bedrooms and two full bathrooms across a multi-level layout. The main living area features a fireplace, while the lower level adds a bedroom and bathroom that can accommodate guests or office use. Two bedrooms and another full bathroom are positioned upstairs. Interior improvements include a renovated kitchen and upstairs bath, with recessed lighting, an eat-in kitchen, pull-down attic stairs, and a balcony. Heating is provided by natural gas forced air, with central air conditioning.
Major system and exterior updates include a 2022 HVAC system and hot water heater, along with a 2024 roof and siding replacement. The property also includes a one-car garage, driveway, oversized parking, a deck, porch, patio, fencing, public water, and public sewer. Its Seaside Park setting places the residence near the Atlantic Ocean, Barnegat Bay, boating, restaurants, and the Seaside Boardwalk.
Major system and exterior updates include a 2022 HVAC system and hot water heater, along with a 2024 roof and siding replacement. The property also includes a one-car garage, driveway, oversized parking, a deck, porch, patio, fencing, public water, and public sewer. Its Seaside Park setting places the residence near the Atlantic Ocean, Barnegat Bay, boating, restaurants, and the Seaside Boardwalk.
Key Highlights
- 1,552‑square‑foot, 3‑bedroom, 2‑bath half‑duplex condominium
- Renovated kitchen and upstairs bathroom
- HVAC and hot water heater updated in 2022
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
$23,867
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
2.81%
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%
$477,340
$477.3K
Cap Rate 7%
$340,957
$341.0K
Cap Rate 9%
$265,189
$265.2K
Market Conditions
NOI Build-Up for 1,552 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
$46.6K $30.00/SF
− Vacancy
−$3.2K −$2.04/SF
EGI
$43.4K $27.96/SF
− OpEx
−$19.5K −$12.58/SF
NOI
$23.9K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$477,340
Cap Rate 7%
$340,957
Cap Rate 9%
$265,189
Alternative Uses
Best Use
Apartment 5plus
$341.0K
$298.3K – $397.8K
NOI $23,867 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$405.3K
$354.6K – $472.8K
NOI $28,368 @ 7.0% cap · market cap 3.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 08752, NJ
1,961
Population
4,137
Households
0.5
Avg Household Size
61
Median Age
55%
College-Educated
99%
High-School Grad
4.8 sq mi
ZIP Area
409
Density / Sq Mi
$75,865
Median Household Income
$49,150
Median Earnings
$1,402
Median Rent
$779,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium residence with renovated interiors, a garage, outdoor space, and access to nearby ocean and bay amenities.
Where is this residential income property located?
The property is located at 121 N Street Seaside Park, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 1,552‑square‑foot, 3‑bedroom, 2‑bath half‑duplex condominium; Renovated kitchen and upstairs bathroom; HVAC and hot water heater updated in 2022
