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    Two Detached Houses on One Lot

    1702 Summerfield Avenue Neptune, NJ 07753

    1702 Summerfield Avenue, Neptune, NJ, 07753
    $390,000
    Pending
    For Sale
    Claim this Listing
    $390,000
    Pending

    MULTI_FAMILY - Neptune Township, NJ

    Property Size1,736 SF
    Lot Size0.15 Acres
    AddedMay 11, 2023
    Days on Market1161
    Last RefreshJul 14 at 6:06 pm

    Property Features for 1702 Summerfield Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 3
    Basement
    Crawl Space
    Standard status
    Pending
    APN
    35-00714-0000-00027
    Size
    1,736 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    5026

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard

    Building Details

    Year built
    1910
    Floors in Building
    2
    Number of units
    2

    Listing agent Christian Tibok

    Listing office Fathom Realty NJ 365 Haarding Highway, Morristown, NJ

    Listing date May 11, 2023

    MLS# 22312603 Listing URL

    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 property features two detached houses situated on a single 0.15-acre lot. The first house includes 2 bedrooms and 1.1 bathrooms, complemented by a fenced yard. The second house offers 3 bedrooms and 1.1 bathrooms, along with off-street parking. Both houses share a similar layout, featuring an open-concept first floor that combines the living and dining areas with a kitchen and a half bath. The second floor of each house contains the bedrooms and a full bathroom. Located in Neptune Township, New Jersey, this multifamily property presents an opportunity for residential income.

    Key Highlights

    • Two detached houses on one lot
    • First house: 2 bedrooms, 1.1 baths, and a fenced yard
    • Second house: 3 bedrooms, 1.1 baths and off‑street parking

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $44.4k $25.56
    − Vacancy −$2.9k −$1.65
    EGI $41.5k $23.91
    − OpEx −$12.5k −$7.17
    NOI $29.1k $16.74
    1,736 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $415.1K
    $363.2K – $484.2K (±1% cap)
    NOI $29,054 @ 7.0% cap · market cap 7.45%
    Second Best
    Apartment 5plus
    $381.4K
    $333.7K – $444.9K (±1% cap)
    NOI $26,696 @ 7.0% cap · market cap 6.85%
    Theoretical Best
    Office A
    $453.3K
    $396.6K – $528.9K (±1% cap)
    NOI $31,731 @ 7.0% cap · market cap 8.14%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Locksmith Butcher (Bike/Boat/Book/etc) Store Nursing Home (Bike/Boat/Book/etc) Store Pet Store & Service Accounting Firm Florist (Bike/Boat/Book/etc) Store Fish Market

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Two detached houses on one lot in Neptune Township, NJ.
    Where is this duplex located?
    The property is located at 1702 Summerfield Avenue Neptune, NJ.
    What is the asking price?
    The asking price for this property is $390,000.
    What are key features of this property?
    This property features: Two detached houses on one lot; First house: 2 bedrooms, 1.1 baths, and a fenced yard; Second house: 3 bedrooms, 1.1 baths and off‑street parking
    Contact an agent
    (888) 455-6040
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    Christian Tibok
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