Two-Unit Duplex
For Sale
$375,000
Pending
14 Story Street, New Egypt, NJ 08533
Multi-Family, New Egypt, NJ
Property Size1,300 SF
Lot Size0.27 Acres
Days on Market94
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 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
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
Pending
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
Tile - Ceramic, Wood
Listing Agency:
Smires & Associates Bordentown
(609) 298-9888
Listed By:
James Traynham · License #1327427
(609) 865-1801
Added: Jun 26
Changed: Sep 23
Last Checked: Sep 27 at 7:06PM
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 contains two separate apartments, each arranged with two bedrooms and one bathroom. The property provides 1,300 square feet of building area on a 0.27-acre lot, with wood and ceramic tile flooring and baseboard heating. It was constructed in 1960 and includes four bedrooms and two bathrooms in total.
The property is located at 14 Story Street in New Egypt, New Jersey. Water service is provided by a well, while the sewer connection is public. Parking is available on the street.
The property is located at 14 Story Street in New Egypt, New Jersey. Water service is provided by a well, while the sewer connection is public. Parking is available on the street.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,300 square feet of building area
- 0.27‑acre lot in New Egypt, NJ
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
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Open Analytics
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
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 - Two residential units with wood and ceramic tile flooring, 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: Two apartments, each with 2 bedrooms and 1 bathroom; 1,300 square feet of building area; 0.27‑acre lot in New Egypt, NJ
