Ranch-Style
For Sale
$500,000
1553 Breakers Drive, Manahawkin, NJ 08050
MULTI_FAMILY - Manahawkin, NJ
Property Size1,650 SF
Lot Size0.20 Acres
Price / SF$303.03
Days on Market51
Property Features for 1553 Breakers Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1
Basement
Crawl Space
Subdivision
Ocean Acres
Middle school
Southern Reg
High school
Southern Reg
Directions
Route 72 to Breakers Dr. Home is on the left at the intersection of Outboard and Breakers.
Standard status
Active
APN
31-00044-122-00004
Size
1,650 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5443
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Berkshire Hathaway HomeServices Zack Shore Realtors
(609) 597-6464
Listed By:
Brian R MacFarlane
(609) 597-6464
Added: Jun 23
Changed: Aug 7
Last Checked: Aug 12 at 5:06AM
MLS# 22618976
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.
Investment Insights
Based on property information with market context.
Ranch-style duplex built in 1980 offering two separate units. Each unit is configured with two bedrooms and one full bath. The property totals 1,650 square feet on a 0.2-acre lot.
Both units are occupied by long-term tenants, with Unit A occupied for 13 years and Unit B occupied for 5 years. Unit A has a heating system that is approximately 1.5 years old. Unit B has a newly installed furnace, and a window replacement was completed about 7 years ago. Forced air heating and central air are provided, and the roof is shingle. Public water and public sewer services are available.
Please note that 24-hour notice is required for showings.
Both units are occupied by long-term tenants, with Unit A occupied for 13 years and Unit B occupied for 5 years. Unit A has a heating system that is approximately 1.5 years old. Unit B has a newly installed furnace, and a window replacement was completed about 7 years ago. Forced air heating and central air are provided, and the roof is shingle. Public water and public sewer services are available.
Please note that 24-hour notice is required for showings.
Key Highlights
- Two‑unit ranch duplex with two bedrooms and one full bath per unit
- 1,650 SF total living area on a 0.2‑acre lot
- Built in 1980 with forced air heat and central air
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 - Ranch-style duplex on public water and sewer with central air and two two-bedroom units with updated heating.
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 duplex with two bedrooms and one full bath per unit; 1,650 SF total living area on a 0.2‑acre lot; Built in 1980 with forced air heat and central air
