Duplex with Two 2-Bedroom
For Sale
$375,000
14 Story Street, New Egypt, NJ 08533
MULTI_FAMILY - New Egypt, NJ
Property Size1,300 SF
Lot Size0.27 Acres
Price / SF$288.46
Days on Market48
Property Features for 14 Story Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4
Parking features
On Street
Basement
Crawl Space
High school
New Egypt
Directions
Front St to Magnolia to Cedar to Story
Subdivision
New Egypt
Standard status
Active
APN
24-00004-0000-00009
Size
1,300 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4566
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Well
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Wood, Tile - Ceramic
Listing Agency:
Smires & Associates Bordentown
(609) 298-9888
Listed By:
James Traynham · License #1327427
(609) 298-9888
Added: Jun 26
Changed: Aug 7
Last Checked: Aug 12 at 1:06AM
MLS# 22619503
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 offers two apartments, each with two bedrooms and one bathroom. The property includes flooring with wood and ceramic tile, and heating is provided by baseboard systems. Parking is available via on-street parking.
The home sits on a 0.27-acre lot and was built in 1960. Utilities include a well water source and public sewer service.
With its straightforward duplex layout and two separate residential units, this property can suit an owner-occupant or investor looking for an additional rental stream. The apartments are described as having spacious floor plans and comfortable, bright living spaces.
The home sits on a 0.27-acre lot and was built in 1960. Utilities include a well water source and public sewer service.
With its straightforward duplex layout and two separate residential units, this property can suit an owner-occupant or investor looking for an additional rental stream. The apartments are described as having spacious floor plans and comfortable, bright living spaces.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath apartments
- 0.27‑acre lot
- 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
123
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 - Duplex on a 0.27-acre lot featuring two 2-bedroom, 1-bath apartments with baseboard heat and on-street parking.
Where is this duplex located?
The property is located at 14 Story Street 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: Duplex with two 2‑bedroom, 1‑bath apartments; 0.27‑acre lot; Built in 1960
