Six-Bedroom Duplex with Fenced
For Sale
$535,000
Pending
1417 7th Avenue, Neptune, NJ 07753
Multi-Family, Neptune Township, NJ
Property Size2,010 SF
Lot Size0.21 Acres
Days on Market261
Property Features for 1417 7th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2
Parking features
On Street, Off Street
Interior features
Attic, Recessed Lighting
Fencing
Fenced
Fireplace
1
Basement
Full, Walk-Out Access
Subdivision
Alberta Lake
Lot features
Fenced Area, Level
Middle school
Neptune
High school
Neptune Twp
Directions
Rt 33 (Corlies Ave) to Rt 35 S, Right on 7th Ave, House on Right
Standard status
Pending
APN
35-00410-0000-00025
Size
2,010 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9820
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Radiant, Oil
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1942
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Tile - Ceramic, Wood, Linoleum
Building materials
Shingle Siding, Aluminum Siding
Roof type
Shingle
Listing Agency:
Weichert Realtors-Freehold
(732) 577-0440
Listed By:
Jennifer Niedrach
(732) 577-0440
Added: Dec 8, 2025
Changed: Aug 26
Last Checked: Aug 26 at 7:06PM
MLS# 22536313
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 1942 duplex contains two three-bedroom, one-bath units within approximately 2,010 square feet. The property includes original hardwood flooring, nine-foot ceilings, recessed lighting, attic storage, and basement access from both units as well as an exterior side entrance. Interior improvements are needed, while the shingle roof, public water, and public sewer are already in place.
Heating is provided by oil-fired radiant systems, with gas service supporting water heating and cooking. Each unit has separate electric and gas meters; water, sewer, and oil service are shared. The fenced outdoor area sits on a 0.21-acre lot, and parking is available both on the street and off street. An upstairs tenant occupies one unit on a month-to-month lease. The property is located at 1417 7th Avenue in Neptune Township, New Jersey.
Heating is provided by oil-fired radiant systems, with gas service supporting water heating and cooking. Each unit has separate electric and gas meters; water, sewer, and oil service are shared. The fenced outdoor area sits on a 0.21-acre lot, and parking is available both on the street and off street. An upstairs tenant occupies one unit on a month-to-month lease. The property is located at 1417 7th Avenue in Neptune Township, New Jersey.
Key Highlights
- Two units with three bedrooms and one full bath each
- Approximately 2,010 square feet on a 0.21‑acre lot
- Separate electric and gas meters; shared water, sewer, and oil
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
$33,640
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
6.29%
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%
$672,800
$672.8K
Cap Rate 7%
$480,571
$480.6K
Cap Rate 9%
$373,778
$373.8K
Market Conditions
NOI Build-Up for 2,010 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
$51.4K $25.56/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$48.1K $23.91/SF
− OpEx
−$14.4K −$7.17/SF
NOI
$33.6K $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%
$672,800
Cap Rate 7%
$480,571
Cap Rate 9%
$373,778
Alternative Uses
Best Use
Multifamily LT 5
$480.6K
$420.5K – $560.7K
NOI $33,640 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$441.6K
$386.4K – $515.2K
NOI $30,910 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$524.9K
$459.3K – $612.3K
NOI $36,740 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 07753, NJ
37,397
Population
16,701
Households
2.2
Avg Household Size
45
Median Age
37%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
2,337
Density / Sq Mi
$92,824
Median Household Income
$49,953
Median Earnings
$1,740
Median Rent
$390,900
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 - Two three-bedroom units offer separate electric and gas metering with shared water, sewer, and oil service.
Where is this duplex located?
The property is located at 1417 7th Avenue Neptune, NJ.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two units with three bedrooms and one full bath each; Approximately 2,010 square feet on a 0.21‑acre lot; Separate electric and gas meters; shared water, sewer, and oil
