Two-Unit Duplex With
For Sale
$479,900
145 Clay Street Unit 145-147, Tuckerton, NJ 08087
Each residence offers two bedrooms, bonus space, and a full bathroom across a two-story layout.
Property Size1,920 SF
Price / SF$249.95
Days on Market23
Property Features for 145 Clay Street Unit 145-147
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-family
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
RE/MAX Gateway
Listed By:
Robert N Lange
(833) 740-1234
Source:
Actionplusrealty
Added: Jul 15
Changed: Aug 3
Last Checked: Aug 6 at 4:07AM
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 RE/MAX Gateway
Investment Insights
Based on property information with market context.
Built in 1950, this duplex contains 1,920 square feet across two separate residences. Each unit includes a living room, dining area, and kitchen on the first level, with two bedrooms, additional bonus space, and a full bathroom upstairs. Private basements serve both units, providing useful lower-level storage or flex space.
The property is located at 145 Clay Street, Unit 145-147, in Tuckerton, New Jersey. Its two-unit configuration supports owner occupancy in one residence while using the second for rent, or leasing both sides as a residential income property. The building sits on a large lot and offers a straightforward layout for buyers seeking a duplex with established residential improvements.
The property is located at 145 Clay Street, Unit 145-147, in Tuckerton, New Jersey. Its two-unit configuration supports owner occupancy in one residence while using the second for rent, or leasing both sides as a residential income property. The building sits on a large lot and offers a straightforward layout for buyers seeking a duplex with established residential improvements.
Key Highlights
- Duplex with two separate residential units
- 1,920 SF building constructed in 1950
- Two bedrooms, bonus space, and full bathroom in each unit
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
$32,133
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
6.70%
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%
$642,660
$642.7K
Cap Rate 7%
$459,043
$459.0K
Cap Rate 9%
$357,033
$357.0K
Market Conditions
NOI Build-Up for 1,920 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
$49.1K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$45.9K $23.91/SF
− OpEx
−$13.8K −$7.17/SF
NOI
$32.1K $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%
$642,660
Cap Rate 7%
$459,043
Cap Rate 9%
$357,033
Alternative Uses
Best Use
Multifamily LT 5
$459.0K
$401.7K – $535.6K
NOI $32,133 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$421.8K
$369.1K – $492.1K
NOI $29,526 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$501.4K
$438.7K – $584.9K
NOI $35,095 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 08087, NJ
25,191
Population
12,982
Households
1.9
Avg Household Size
49
Median Age
28%
College-Educated
94%
High-School Grad
70.1 sq mi
ZIP Area
359
Density / Sq Mi
$87,449
Median Household Income
$47,779
Median Earnings
$1,760
Median Rent
$323,500
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 - Each residence offers two bedrooms, bonus space, and a full bathroom across a two-story layout.
Where is this duplex located?
The property is located at 145 Clay Street Unit 145-147 Tuckerton, NJ.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Duplex with two separate residential units; 1,920 SF building constructed in 1950; Two bedrooms, bonus space, and full bathroom in each unit
