Furnished Coastal
17 E Connecticut Ave, Somers Point, NJ 08244
For Sale
$650,000
Two separate units offer updated interiors, shared outdoor space, and attached storage for shore equipment.
Property Size2,100 SF
Price / SF$309.52
Days on Market48
Property Features for 17 E Connecticut Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Furnished
Amenities
crushed-shell driveway
shared backyard
attached storage shed
Building Details
Year Built
Construction
Listing Agency:
Weichert Realtors Asbury Group-Ac
Listed By:
Ben Kruse · License #2184380
(609) 204-7891
Source:
Choosekruse
Added: Sep 20
Changed: Nov 6
Last Checked: Nov 6 at 8:06AM
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 Weichert Realtors Asbury Group-Ac
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Investment Insights
Based on property information with market context.
This 2,100-square-foot duplex, built in 1940, contains two separate residences with five bedrooms total. The first-floor unit has two bedrooms and one full bath, along with an updated kitchen and bath, luxury vinyl plank flooring, fresh paint, new fixtures, and updated lighting. The second-floor residence provides three bedrooms and one full bath with partial updates. Both units are furnished.
Outdoor features include a crushed-shell driveway, shared backyard, and a large attached storage shed for bicycles, beach equipment, kayaks, tools, and other seasonal items. The property is located at 17 E Connecticut Ave in Somers Point, with restaurants, marinas, shopping, beaches, and neighboring Ocean City identified as nearby destinations.
Outdoor features include a crushed-shell driveway, shared backyard, and a large attached storage shed for bicycles, beach equipment, kayaks, tools, and other seasonal items. The property is located at 17 E Connecticut Ave in Somers Point, with restaurants, marinas, shopping, beaches, and neighboring Ocean City identified as nearby destinations.
Key Highlights
- 2,100 SF duplex with two separate residential units
- Five total bedrooms and two full baths
- First‑floor unit includes updated kitchen and bath, LVP flooring, fresh paint, fixtures, and lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,915
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,300
$478.3K
Cap Rate 7%
$341,643
$341.6K
Cap Rate 9%
$265,722
$265.7K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$36.5K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$34.2K $16.27/SF
− OpEx
−$10.2K −$4.88/SF
NOI
$23.9K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,300
Cap Rate 7%
$341,643
Cap Rate 9%
$265,722
Alternative Uses
Best Use
Multifamily LT 5
$341.6K
$298.9K – $398.6K
NOI $23,915 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$300.3K
$262.8K – $350.3K
NOI $21,020 @ 7.0% cap · market cap 3.23%
Theoretical Best
Warehouse
$782.0K
$684.3K – $912.4K
NOI $54,742 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
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Business Placement
Demographics for 08244, NJ
10,535
Population
5,898
Households
1.8
Avg Household Size
47
Median Age
30%
College-Educated
89%
High-School Grad
4.9 sq mi
ZIP Area
2,150
Density / Sq Mi
$67,500
Median Household Income
$38,709
Median Earnings
$1,266
Median Rent
$278,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Atlantic County, NJ
Properties on Market for Duplexes in Atlantic County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units offer updated interiors, shared outdoor space, and attached storage for shore equipment.
Where is this duplex located?
The property is located at 17 E Connecticut Ave Somers Point, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,100 SF duplex with two separate residential units; Five total bedrooms and two full baths; First‑floor unit includes updated kitchen and bath, LVP flooring, fresh paint, fixtures, and lighting
