Two-Unit Duplex with Rental
For Sale
$375,000
14 Story St, New Egypt, NJ 08533
1960-built duplex offering two separate two-bedroom apartments near parks, schools, local amenities, and commuter routes.
Property Size1,300 SF
Price / SF$288.46
Days on Market31
Property Features for 14 Story St
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1960
Listing Agency:
Smires & Associates
(609) 865-1801
Listed By:
James Traynham · License #1327427
Source:
Soldbypattie
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 25 at 5:29AM
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 Smires & Associates
Investment Insights
Based on property information with market context.
This 1960-built duplex contains two separate apartments, each configured with two bedrooms and one bathroom. The property offers a straightforward two-unit layout suited to multifamily ownership, with the option for an owner-occupant to live in one unit while renting the other, as supported by the existing configuration.
Located in New Egypt, the property is positioned near local amenities, parks, schools, and commuter routes. The address is 14 Story St, New Egypt, NJ 08533. Both apartments are part of the same duplex structure, providing a compact residential income property with two units under one roof.
Located in New Egypt, the property is positioned near local amenities, parks, schools, and commuter routes. The address is 14 Story St, New Egypt, NJ 08533. Both apartments are part of the same duplex structure, providing a compact residential income property with two units under one roof.
Key Highlights
- Two‑unit duplex with two separate apartments
- Each apartment includes 2 bedrooms and 1 bathroom
- Built in 1960
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
$21,757
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
5.80%
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%
$435,140
$435.1K
Cap Rate 7%
$310,814
$310.8K
Cap Rate 9%
$241,744
$241.7K
Market Conditions
NOI Build-Up for 1,300 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
$33.2K $25.56/SF
− Vacancy
−$2.1K −$1.65/SF
EGI
$31.1K $23.91/SF
− OpEx
−$9.3K −$7.17/SF
NOI
$21.8K $16.74/SF
Area
Ocean 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%
$435,140
Cap Rate 7%
$310,814
Cap Rate 9%
$241,744
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$272.0K – $362.6K
NOI $21,757 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$285.6K
$249.9K – $333.2K
NOI $19,991 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$339.5K
$297.0K – $396.0K
NOI $23,762 @ 7.0% cap · market cap 6.34%
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
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 08533, NJ
6,764
Population
2,625
Households
2.6
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
54.9 sq mi
ZIP Area
123
Density / Sq Mi
$101,982
Median Household Income
$51,358
Median Earnings
$1,662
Median Rent
$471,500
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 - 1960-built duplex offering two separate two-bedroom apartments near parks, schools, local amenities, and commuter routes.
Where is this duplex located?
The property is located at 14 Story St New Egypt, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with two separate apartments; Each apartment includes 2 bedrooms and 1 bathroom; Built in 1960
