Duplex with Updated
For Sale
$899,000
1284-1286 Washington Avenue, Asbury Park, NJ 07712
MULTI_FAMILY - Asbury Park, NJ
Property Size2,240 SF
Lot Size0.17 Acres
Price / SF$401.34
Days on Market100
Property Features for 1284-1286 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 8, Bedroom 5, Bedroom 7
Basement
Crawl Space
Directions
use Waze
Standard status
Active
APN
04-01403-0000-00007
Size
2,240 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11458
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
2
Listing Agency:
Avenue Realty NJ
(732) 508-0778
Listed By:
Marion A Osherovitz · License #1758633
(732) 508-0778
Added: May 25
Changed: Aug 7
Last Checked: Sep 1 at 3:06PM
MLS# 22615454
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 duplex includes two 4BR, 1BA units, each with updated kitchens and spacious living and dining areas. The property also includes washer/dryer. Baseboard heat services the home, and utilities are provided via public water and public sewer.
Set on a 0.17-acre lot, the building was constructed in 1985. The property is located 1–2 miles from the beach, with access to nearby shops and a growing downtown area in Asbury Park.
Configured as a two-family rental, the layout provides multiple bedrooms per unit and common residential living space suited to tenant needs.
Set on a 0.17-acre lot, the building was constructed in 1985. The property is located 1–2 miles from the beach, with access to nearby shops and a growing downtown area in Asbury Park.
Configured as a two-family rental, the layout provides multiple bedrooms per unit and common residential living space suited to tenant needs.
Key Highlights
- Two 4BR, 1BA units
- Updated kitchens in both units
- Washer/dryer included
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
$37,489
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
4.17%
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%
$749,780
$749.8K
Cap Rate 7%
$535,557
$535.6K
Cap Rate 9%
$416,544
$416.5K
Market Conditions
NOI Build-Up for 2,240 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
$57.3K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$53.6K $23.91/SF
− OpEx
−$16.1K −$7.17/SF
NOI
$37.5K $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%
$749,780
Cap Rate 7%
$535,557
Cap Rate 9%
$416,544
Alternative Uses
Best Use
Multifamily LT 5
$535.6K
$468.6K – $624.8K
NOI $37,489 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$492.1K
$430.6K – $574.1K
NOI $34,447 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$584.9K
$511.8K – $682.4K
NOI $40,944 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Two 4BR, 1BA units with updated kitchens, baseboard heat, and public water and sewer.
Where is this duplex located?
The property is located at 1284-1286 Washington Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two 4BR, 1BA units; Updated kitchens in both units; Washer/dryer included
