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    Two-Family Victorian Duplex Title is generated by Realmo AI

    141 Main Avenue, Ocean Grove, NJ 07756

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    New
    For Sale
    $999,000

    MULTI_FAMILY - Ocean Grove, NJ

    Property size:
    2,280 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $438/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for 141 Main Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 1, Bedroom 1, Basement, Bathroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3
    Parking features
    On Street
    Patio and Porch features
    Patio
    Exterior features
    Stained Glass, Lighting
    Basement
    Full
    Standard status
    Active
    APN
    35-00157-0000-00005-01
    Size
    2,280 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    14777

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1904
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood
    Roof type
    Shingle

    We can help!

    Listing Contact
    Thea Bowers
    Thea Bowers

    Listing agent Thea Bowers License #0787334

    Listing office RE/MAX Gateway 45 Main Ave., Ocean Grove, NJ

    Listing date Jun 2, 2026

    MLS# 22616441 Listing URL

    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.

    HighLights

    • 2‑family Victorian built in 1904 with wood flooring, stained glass, and shingle roof
    • 1BR/1BA first‑floor unit with updated kitchen and bath, sun‑drenched living/dining, and soaring ceilings
    • Upper unit spans 2nd and 3rd floors with 2–3 bedrooms and 2 bathrooms plus spacious living areas
    • Central air plus forced‑air heating; public water and public sewer
    • Side patio and private front porch, plus common laundry room with a full bathroom
    • On‑street parking; close to Ocean Grove’s main amenities, including the beach and Main Ave

    Overview

    This beautifully maintained two-family Victorian offers a turnkey setup with most furnishings included. The 1st-floor unit features one bedroom and one bathroom and is arranged around sunlit living and dining rooms with stained-glass windows, gleaming hardwood floors, soaring ceilings, and updated kitchen and bath finishes. The upper residence spans the 2nd and 3rd floors, providing flexible layout options with two to three bedrooms and two bathrooms, along with spacious living areas and numerous updates throughout. Outside, there is a private front porch and a side patio suited for after-beach grilling and relaxing. Central A/C is available, and there is a common laundry room with a full bathroom for added convenience.

    Located in Ocean Grove, the property is described as being just steps to the area’s beach and Main Avenue, with Asbury Park and NYC transportation also referenced in the remarks. The home is offered with a required 24-hour notice for showings.

    For tenants, buyers, or operators seeking an income-producing residence with unit separation, this configuration provides two distinct living spaces. The described layout also supports flexible use, including the possibility of converting back to a spacious single-family home, depending on how the next owner chooses to utilize the existing structure and floor plan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Grove
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.012818
    Latitude
    40.213549

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    FAQs

    What type of property is this?
    Duplex - Two separate units with updated interiors and central A/C, plus outdoor space and shared laundry for convenient beach-town living.
    Where is this duplex located?
    The property is located at 141 Main Avenue Ocean Grove, NJ.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: 2‑family Victorian built in 1904 with wood flooring, stained glass, and shingle roof; 1BR/1BA first‑floor unit with updated kitchen and bath, sun‑drenched living/dining, and soaring ceilings; Upper unit spans 2nd and 3rd floors with 2–3 bedrooms and 2 bathrooms plus spacious living areas
    (732) 361-0770
    We can help!
    Listing Contact
    Thea Bowers
    Thea Bowers
    Real Estate License ID: 0787334
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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