Ranch-Style
For Sale
$500,000
1553 Breakers Drive, Manahawkin, NJ 08050
Residential duplex with two occupied units, established tenancy, and updated heating equipment.
Property Size1,650 SF
Days on Market68
Property Features for 1553 Breakers Drive
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi Family Home
Zoning
Residential
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,443
Building Details
Building Size
1,650 SF
Year Built
1980
Units
2
Construction
ranch-style
Listing Agency:
Berkshire Hathaway HomeServices Zack Shore Realtors
(609) 597-6464
Listed By:
Brian R MacFarlane
(609) 597-6464
Source:
Michaelfraulo
Added: Jun 23
Changed: Aug 28
Last Checked: Aug 28 at 7:07AM
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 Berkshire Hathaway HomeServices Zack Shore Realtors
Investment Insights
Based on property information with market context.
Built in 1980, this ranch-style duplex contains two separate residential units, each with 2 bedrooms and 1 full bath. The property is zoned Residential, and both units are currently occupied. Unit A has a heating system approximately 1.5 years old and has been occupied by the same tenant for 13 years. Unit B has a newly installed furnace, while its windows were replaced about 7 years ago; the current tenant has occupied the unit for 5 years.
Showings require 24-hour notice. The property is located at 1553 Breakers Drive in Manahawkin, New Jersey.
Showings require 24-hour notice. The property is located at 1553 Breakers Drive in Manahawkin, New Jersey.
Key Highlights
- Two‑unit ranch‑style duplex built in 1980
- Each unit offers 2 bedrooms and 1 full bath
- Both units are occupied by established tenants
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
$27,615
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
5.52%
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%
$552,300
$552.3K
Cap Rate 7%
$394,500
$394.5K
Cap Rate 9%
$306,833
$306.8K
Market Conditions
NOI Build-Up for 1,650 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
$42.2K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$39.4K $23.91/SF
− OpEx
−$11.8K −$7.17/SF
NOI
$27.6K $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%
$552,300
Cap Rate 7%
$394,500
Cap Rate 9%
$306,833
Alternative Uses
Best Use
Multifamily LT 5
$394.5K
$345.2K – $460.3K
NOI $27,615 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$430.8K
$377.0K – $502.7K
NOI $30,159 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 08050, NJ
26,507
Population
14,182
Households
1.9
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
30.9 sq mi
ZIP Area
858
Density / Sq Mi
$115,456
Median Household Income
$60,458
Median Earnings
$1,756
Median Rent
$377,100
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 - Residential duplex with two occupied units, established tenancy, and updated heating equipment.
Where is this duplex located?
The property is located at 1553 Breakers Drive Manahawkin, NJ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit ranch‑style duplex built in 1980; Each unit offers 2 bedrooms and 1 full bath; Both units are occupied by established tenants
