Renovated Duplex with Finished
For Sale
$849,999
1257 Washington Avenue, Asbury Park, NJ 07712
Multi-Family, Asbury Park, NJ
Property Size1,960 SF
Lot Size0.08 Acres
Price / SF$433.67
Days on Market98
Property Features for 1257 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 1, Basement, Bathroom 2, Bedroom 3, Bedroom 1
Directions
1257 Washington Ave on GPS
Standard status
Active
APN
04-01301-0000-00031
Size
1,960 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7019
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Listing Agency:
C21/ Solid Gold Realty
Listed By:
Victor Alhalabi
(732) 531-7772
Added: Jun 16
Changed: Sep 13
Last Checked: Sep 21 at 11:06AM
MLS# 22618241
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 renovated duplex contains 1,960 square feet on a 0.08-acre lot. The two-family configuration includes six bedrooms, two bathrooms, and a finished basement, with modern updates incorporated into the property. Built in 1930, the home combines its original construction date with updated interior features.
The property is located at 1257 Washington Avenue in Asbury Park, NJ 07712. Asbury Park beaches, the boardwalk, dining, and downtown are identified as nearby destinations. Public water and public sewer serve the property.
The property is located at 1257 Washington Avenue in Asbury Park, NJ 07712. Asbury Park beaches, the boardwalk, dining, and downtown are identified as nearby destinations. Public water and public sewer serve the property.
Key Highlights
- 1,960‑square‑foot duplex with two‑family configuration
- Six bedrooms and two bathrooms
- Finished basement with modern updates
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
$32,803
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
3.86%
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%
$656,060
$656.1K
Cap Rate 7%
$468,614
$468.6K
Cap Rate 9%
$364,478
$364.5K
Market Conditions
NOI Build-Up for 1,960 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
$50.1K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.9K $23.91/SF
− OpEx
−$14.1K −$7.17/SF
NOI
$32.8K $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%
$656,060
Cap Rate 7%
$468,614
Cap Rate 9%
$364,478
Alternative Uses
Best Use
Multifamily LT 5
$468.6K
$410.0K – $546.7K
NOI $32,803 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$430.6K
$376.8K – $502.4K
NOI $30,141 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$511.8K
$447.8K – $597.1K
NOI $35,826 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout includes modern updates, a finished basement, and public water and sewer service.
Where is this duplex located?
The property is located at 1257 Washington Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 1,960‑square‑foot duplex with two‑family configuration; Six bedrooms and two bathrooms; Finished basement with modern updates
