Two-Home Duplex
New
For Sale
$574,900
1213 10th Avenue, Neptune, NJ 07753
Multi-Family, Neptune Township, NJ
Property Size1,565 SF
Lot Size0.16 Acres
Price / SF$367.35
Days on Market1
Property Features for 1213 10th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential, Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Basement, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 3
Parking features
On Street
Fencing
Fenced
Basement
Full
Subdivision
Bradley Park
Middle school
Neptune
High school
Neptune Twp
Directions
From 6th Ave. Turn left onto Atkins Ave. Turn left onto 10th Ave. Property will be on the right
Standard status
Active
APN
35-00517-0000-00026
Size
1,565 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10731
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile - Ceramic
Roof type
Shingle
Listing Agency:
EXP Realty
(866) 201-6210
Listed By:
Jill Tascon
(866) 201-6210
Added: Aug 26
Last Checked: Aug 26 at 5:06PM
MLS# 22626709
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.
This 1930 duplex property in Neptune Township includes two separate residences totaling 1565 square feet. The front home provides four bedrooms and two full bathrooms, with one bedroom and bathroom on the first level, three bedrooms and another bathroom upstairs, and access to an unfinished basement. A second residence at the rear contains two bedrooms and one full bathroom.
Both residences are occupied, and each tenant handles their own utility costs through separate utility systems. Property features include laminate and ceramic tile flooring, baseboard heat, a shingle roof, public water, public sewer, a fenced lot, and on-street parking. The parcel contains 0.16 acres and is located at 1213 10th Avenue in Neptune Township, Monmouth County, New Jersey.
Both residences are occupied, and each tenant handles their own utility costs through separate utility systems. Property features include laminate and ceramic tile flooring, baseboard heat, a shingle roof, public water, public sewer, a fenced lot, and on-street parking. The parcel contains 0.16 acres and is located at 1213 10th Avenue in Neptune Township, Monmouth County, New Jersey.
Key Highlights
- Two occupied residences on one 0.16‑acre parcel
- Front home includes 4 bedrooms and 2 full bathrooms
- Rear residence offers 2 bedrooms and 1 full bathroom
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
Property Profile
Current Use
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 - Occupied two-unit property with separate utilities, fenced grounds, and a front residence offering first-floor bedroom access.
Where is this duplex located?
The property is located at 1213 10th Avenue 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 occupied residences on one 0.16‑acre parcel; Front home includes 4 bedrooms and 2 full bathrooms; Rear residence offers 2 bedrooms and 1 full bathroom
