Updated Two-Unit
New
For Sale
$575,000
170 Forest Avenue, Keansburg, NJ 07734
MULTI_FAMILY - Keansburg, NJ
Property Size1,500 SF
Lot Size0.14 Acres
Price / SF$383.33
Days on Market1
Property Features for 170 Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2
Basement
Crawl Space
Directions
GPS 170 forest
Standard status
Active
APN
23-00152-0000-00005
Size
1,500 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
fenced yard
paver patio
ramp access
outdoor lighting
detached garage
2 newer sheds
attic storage
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Listing Agency:
VRI Homes
(732) 264-9593
Listed By:
Anthony Genovese · License #1859350
(732) 264-9593
Added: Aug 13
Last Checked: Aug 13 at 10:06PM
MLS# 22625157
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.
This 1,500-square-foot duplex at 170 Forest Avenue contains two separate 1BR/1BA units, each with its own kitchen and living area. The 1928 property has received multiple updates, including refreshed bathrooms, an improved downstairs kitchen, new doors, fresh paint, refinished hardwood floors, new laminate flooring upstairs, and a newer upstairs hot water heater. Separate gas and electric service supports the two-unit configuration, while water and sewer are public and heating is provided by baseboard systems.
Set on a 0.14-acre corner lot, the property includes a fenced yard, paver patio, ramp access, outdoor lighting, a detached garage, two newer sheds, attic storage, and a fresh blacktop three-car driveway. The location is near Keansburg’s Bayshore waterfront, beach, amusement park, shopping, dining, transit, and the Raritan Bay shoreline.
Set on a 0.14-acre corner lot, the property includes a fenced yard, paver patio, ramp access, outdoor lighting, a detached garage, two newer sheds, attic storage, and a fresh blacktop three-car driveway. The location is near Keansburg’s Bayshore waterfront, beach, amusement park, shopping, dining, transit, and the Raritan Bay shoreline.
Key Highlights
- Two 1BR/1BA units, each with a kitchen and living area
- 1,500 square feet on a 0.14‑acre corner lot
- Updated baths, downstairs kitchen, flooring, paint, doors, and upstairs hot water heater
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
$25,104
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
4.37%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 1,500 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
$38.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.9K $23.91/SF
− OpEx
−$10.8K −$7.17/SF
NOI
$25.1K $16.74/SF
Area
Monmouth 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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 07734, NJ
12,772
Population
5,349
Households
2.4
Avg Household Size
39
Median Age
22%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,513
Density / Sq Mi
$89,073
Median Household Income
$41,228
Median Earnings
$1,638
Median Rent
$310,000
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 - Two independent residences provide separate kitchens and living areas, with public water and sewer.
Where is this duplex located?
The property is located at 170 Forest Avenue Keansburg, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two 1BR/1BA units, each with a kitchen and living area; 1,500 square feet on a 0.14‑acre corner lot; Updated baths, downstairs kitchen, flooring, paint, doors, and upstairs hot water heater
