Two-Family Duplex with Outdoor
New
For Sale
$600,000
130 Heck Avenue, Ocean Grove, NJ 07756
Multi-Family, Ocean Grove, NJ
Property Size1,072 SF
Lot Size0.04 Acres
Price / SF$559.70
Days on Market2
Property Features for 130 Heck Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Single Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Basement
Parking features
On Street
Window features
Insulated Windows
Patio and Porch features
Patio, Porch
Interior features
Recessed Lighting
Exterior features
Thermal Window
Basement
Partial, Crawl Space
Lot features
Fenced Area, Level
Middle school
Neptune
Directions
Broadway to Benson to Heck.
Subdivision
Ocean Grove
Standard status
Active
APN
35-00220-0000-00006
Size
1,072 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12444
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
screened-in porch
composite deck
Building Details
Year built
1904
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Wood
Roof type
Shingle
Listing Agency:
Coldwell Banker Realty
(732) 462-4242
Listed By:
John Lattanzio · License #1120341
(732) 742-6417
Added: Sep 26
Last Checked: Sep 27 at 2:06PM
MLS# 22630484
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 1,072-square-foot duplex contains two legally recognized residential units on a 0.04-acre lot. The first-floor unit has a screened porch, living room, pass-through bedroom with two closets, updated kitchen and three-piece bath; sliding doors open to a rear yard with a composite deck and pavers. The second-floor unit is reached by a private exterior entrance and includes a renovated kitchen, seating area, living space, bedroom and three-piece bath. The property was built in 1904 and has central air, forced-air heat, ceramic tile and wood flooring.
The home is eight short blocks from the beach and boardwalk in Ocean Grove. Outdoor features include the first-floor porch and deck, with additional paved areas along the rear and side of the property. There is on-street parking, public water and public sewer, and cable is available.
The home is eight short blocks from the beach and boardwalk in Ocean Grove. Outdoor features include the first-floor porch and deck, with additional paved areas along the rear and side of the property. There is on-street parking, public water and public sewer, and cable is available.
Key Highlights
- Legal two‑family property with two residential units
- 1,072 square feet on a 0.04‑acre lot
- Second‑floor unit has a private exterior entrance and was recently renovated
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
$17,941
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
2.99%
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%
$358,820
$358.8K
Cap Rate 7%
$256,300
$256.3K
Cap Rate 9%
$199,344
$199.3K
Market Conditions
NOI Build-Up for 1,072 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
$27.4K $25.56/SF
− Vacancy
−$1.8K −$1.65/SF
EGI
$25.6K $23.91/SF
− OpEx
−$7.7K −$7.17/SF
NOI
$17.9K $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%
$358,820
Cap Rate 7%
$256,300
Cap Rate 9%
$199,344
Alternative Uses
Best Use
Multifamily LT 5
$256.3K
$224.3K – $299.0K
NOI $17,941 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$235.5K
$206.1K – $274.8K
NOI $16,485 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$279.9K
$244.9K – $326.6K
NOI $19,594 @ 7.0% cap · market cap 3.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,921
Businesses Nearby
Explore this area
Business Placement
Demographics for 07756, NJ
3,164
Population
2,831
Households
1.1
Avg Household Size
58
Median Age
64%
College-Educated
92%
High-School Grad
0.4 sq mi
ZIP Area
7,910
Density / Sq Mi
$74,410
Median Household Income
$58,148
Median Earnings
$1,212
Median Rent
$764,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate unit entrances and private outdoor areas support flexible use of this two-unit property.
Where is this duplex located?
The property is located at 130 Heck Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Legal two‑family property with two residential units; 1,072 square feet on a 0.04‑acre lot; Second‑floor unit has a private exterior entrance and was recently renovated
