Two-Unit Duplex with Full
For Sale
$1,399,000
145 Chestnut Street, Red Bank, NJ 07701
Two-level duplex with a three-bedroom first-floor unit and a two-bedroom second-floor unit.
Property Size4,580 SF
Days on Market27
Property Features for 145 Chestnut Street
General Information
Standard status
Active
Size
4,580 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Building Size
4,580 SF
Year Built
1920
Listing Agency:
Sackman Realty
Listed By:
Timothy A Henry · License #2220528
(732) 798-8188
Source:
Sackmanrealty
Added: Aug 25
Changed: Sep 18
Last Checked: Sep 20 at 10:03AM
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 Sackman Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units arranged across two levels. The first-floor residence has 3 bedrooms and 2 full bathrooms, while the second-floor residence includes 2 bedrooms and 2 full bathrooms. The property is zoned RB, and completion is scheduled by September 2026.
The address places the property in Red Bank, near downtown restaurants, shopping, the NJ Transit train station, and the Navesink River waterfront. It is also close to Monmouth County’s walkable downtown corridor.
The address places the property in Red Bank, near downtown restaurants, shopping, the NJ Transit train station, and the Navesink River waterfront. It is also close to Monmouth County’s walkable downtown corridor.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom residences
- Each unit includes 2 full bathrooms
- First‑floor unit: 3 bedrooms / 2 full bathrooms
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
$76,652
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
5.48%
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%
$1,533,040
$1.5M
Cap Rate 7%
$1,095,029
$1.1M
Cap Rate 9%
$851,689
$851.7K
Market Conditions
NOI Build-Up for 4,580 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
$117.1K $25.56/SF
− Vacancy
−$7.6K −$1.65/SF
EGI
$109.5K $23.91/SF
− OpEx
−$32.9K −$7.17/SF
NOI
$76.7K $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%
$1,533,040
Cap Rate 7%
$1,095,029
Cap Rate 9%
$851,689
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$958.2K – $1.28M
NOI $76,652 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$1.01M
$880.4K – $1.17M
NOI $70,431 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,715 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with a three-bedroom first-floor unit and a two-bedroom second-floor unit.
Where is this duplex located?
The property is located at 145 Chestnut Street Red Bank, NJ.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom residences; Each unit includes 2 full bathrooms; First‑floor unit: 3 bedrooms / 2 full bathrooms
