Two-Family Duplex with Separate
New
For Sale
$574,900
1213 10th Ave, Neptune, NJ 07753
Front and rear residences are occupied, with tenants handling their own utilities.
Property Size1,565 SF
Days on Market7
Property Features for 1213 10th Ave
General Information
Standard status
Active
Size
1,565 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,731
Building Details
Building Size
1,565 SF
Year Built
1930
Units
2
Listing Agency:
eXp Realty, LLC
Listed By:
Jill Tascon
(866) 201-6210
Source:
Elliman
Added: Aug 28
Changed: Aug 29
Last Checked: Sep 2 at 8:51PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This two-family duplex includes a front residence with 4 bedrooms and 2 full baths. One bedroom and bathroom are located on the first level, while the upper level contains 3 bedrooms and another full bath. The front residence also provides access to an unfinished basement. The rear residence includes 2 bedrooms and 1 full bath.
Both residences are occupied, and each has separate utility service with tenants responsible for their own utilities. Constructed in 1930, the property is located at 1213 10th Ave in Neptune Township, New Jersey. Walk Score is 30 and Bike Score is 55.
Both residences are occupied, and each has separate utility service with tenants responsible for their own utilities. Constructed in 1930, the property is located at 1213 10th Ave in Neptune Township, New Jersey. Walk Score is 30 and Bike Score is 55.
Key Highlights
- Two‑family duplex with separate utility systems
- Front residence includes 4 bedrooms and 2 full baths
- Front layout places 1 bedroom and full bath on the first level
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
$26,192
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
4.56%
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%
$523,840
$523.8K
Cap Rate 7%
$374,171
$374.2K
Cap Rate 9%
$291,022
$291.0K
Market Conditions
NOI Build-Up for 1,565 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
$40.0K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$37.4K $23.91/SF
− OpEx
−$11.2K −$7.17/SF
NOI
$26.2K $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 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%
$523,840
Cap Rate 7%
$374,171
Cap Rate 9%
$291,022
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.5K
NOI $26,192 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$343.8K
$300.8K – $401.1K
NOI $24,067 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$408.7K
$357.6K – $476.8K
NOI $28,606 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,534
Businesses Nearby
Explore this area
Business Placement
Demographics for 07753, NJ
37,397
Population
16,701
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
2,337
Density / Sq Mi
$92,824
Median Household Income
$49,953
Median Earnings
$1,740
Median Rent
$390,900
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 - Front and rear residences are occupied, with tenants handling their own utilities.
Where is this duplex located?
The property is located at 1213 10th Ave Neptune, NJ.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Two‑family duplex with separate utility systems; Front residence includes 4 bedrooms and 2 full baths; Front layout places 1 bedroom and full bath on the first level
