Two-Family Duplex with
For Sale
$1,375,000
145 Chestnut Street, Red Bank, NJ 07701
Multi-Family, Red Bank, NJ
Property Size4,580 SF
Lot Size0.11 Acres
Price / SF$300.22
Days on Market55
Property Features for 145 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential, Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Basement, Bathroom 2, Bedroom 4, Bedroom 3
Parking
4
Parking features
Off Street, On Street
Patio and Porch features
Patio, Porch
Basement
Partial, Full
Lot features
Level
Elementary school
Red Bank Prm
Middle school
Red Bank
High school
Red Bank Cath
Directions
Shrewsbury Ave or Bridge Avenue to Chestnut Street.
Standard status
Active
APN
32-00702-0000-00004-01
Size
4,580 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
Sackman Realty
Listed By:
Timothy A Henry · License #2220528
(732) 798-8188
Added: Sep 9
Changed: Nov 1
Last Checked: Nov 2 at 12:06AM
MLS# 22628464
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.
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Investment Insights
Based on property information with market context.
This two-family duplex at 145 Chestnut Street includes a first-floor residence with 3 bedrooms and 2 full bathrooms, plus a second-floor residence with 2 bedrooms, 2 full bathrooms, and a bonus loft. Both homes are planned with open-concept living areas and separate utilities. Renovation work is scheduled for completion in October 2026.
The 4,580-square-foot property sits on a 0.11-acre lot in Red Bank, near downtown, NJ Transit, restaurants, shopping, riverfront parks, and the planned Denholtz development. Building features include vinyl flooring, zoned forced-air heating, zoned central air, a shingle roof, patio and porch areas, and both on-street and off-street parking. Public water and public sewer serve the property.
The 4,580-square-foot property sits on a 0.11-acre lot in Red Bank, near downtown, NJ Transit, restaurants, shopping, riverfront parks, and the planned Denholtz development. Building features include vinyl flooring, zoned forced-air heating, zoned central air, a shingle roof, patio and porch areas, and both on-street and off-street parking. Public water and public sewer serve the property.
Key Highlights
- Two‑family duplex with 4,580 square feet of property size
- First‑floor unit includes 3 bedrooms and 2 full bathrooms
- Second‑floor unit offers 2 bedrooms, 2 full bathrooms, and a bonus loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,652
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
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
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 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 5.57%
Second Best
Apartment 5plus
$1.01M
$880.4K – $1.17M
NOI $70,431 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,715 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,491
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature open layouts, separate utilities, and access to on- and off-street parking.
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 $1,375,000.
What are key features of this property?
This property features: Two‑family duplex with 4,580 square feet of property size; First‑floor unit includes 3 bedrooms and 2 full bathrooms; Second‑floor unit offers 2 bedrooms, 2 full bathrooms, and a bonus loft
