Two-Unit Duplex with Full
For Sale
$479,900
145 Clay Street #145-147, Tuckerton, NJ 08087
Each unit includes two bedrooms, bonus space, and a full bathroom across a two-level layout.
Property Size1,920 SF
Days on Market44
Property Features for 145 Clay Street #145-147
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,653
Building Details
Building Size
1,920 SF
Year Built
1950
Units
2
Listing Agency:
RE/MAX Gateway
(732) 695-1600
Listed By:
Robert N Lange
(732) 695-1600
Source:
Michaelfraulo
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 25 at 9:24AM
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.
This two-unit duplex at 145 Clay St in Tuckerton contains 1,920 square feet and was built in 1950. Both units include a basement, providing additional below-grade space. The property sits on a large lot.
Each side follows a two-level arrangement. The first floor has a living room, dining room, and kitchen, while the second floor contains two bedrooms, bonus space, and a full bathroom. The configuration supports separate residential use within one building.
Each side follows a two-level arrangement. The first floor has a living room, dining room, and kitchen, while the second floor contains two bedrooms, bonus space, and a full bathroom. The configuration supports separate residential use within one building.
Key Highlights
- Two‑unit duplex with 1,920 square feet
- Built in 1950 on a large lot
- Basement included with 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
Property Profile
Current Use
Lease Details
2
Residential units
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 unit includes two bedrooms, bonus space, and a full bathroom across a two-level layout.
Where is this duplex located?
The property is located at 145 Clay Street #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: Two‑unit duplex with 1,920 square feet; Built in 1950 on a large lot; Basement included with each unit
