Furnished 2-Bedroom Income
For Sale
$570,000
1709 N ROUTE 35 #9 SEASIDE, Seaside Heights, NJ 08751
Turnkey coastal residence with two private balconies, in-unit laundry, and parking for two vehicles.
Property Size1,386 SF
Days on Market232
Property Features for 1709 N ROUTE 35 #9 SEASIDE
General Information
Standard status
Active
Size
1,386 SF
Property subtype
Apartment
Amenities
Central A/C
Forced Air
Microwave
Refrigerator
Oven/Range - Gas
Exhaust Fan
Washer/Dryer Stacked
Patio, Shingle
Building Details
Building Size
1,386 SF
Year Built
1992
Listing Agency:
Westfield
Listed By:
Carlo Flores · License #1007573
(908) 294-1421
Source:
Kw
Added: Jan 22
Changed: Sep 8
Last Checked: Sep 9 at 8:43PM
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 Westfield
Investment Insights
Based on property information with market context.
This renovated two-bedroom residential income property in Pirates Cove at Ortley Beach is offered fully furnished. The interior includes connected living and dining areas, a modern kitchen with stone countertops and cabinetry, and a refreshed bathroom with high ceilings and natural light. Coastal-friendly flooring, updated lighting, central A/C, forced air, and a stacked washer and dryer add practical functionality. The home also provides a front porch, two private balconies, and access to a shared courtyard.
The property is about a block from the ocean and close to the Seaside Heights Boardwalk, local dining, Seaside Bridge, Barnegat Bay, water sports, and marinas. Parking accommodates two vehicles, pets are welcome, and no rental restrictions are stated for the community. Built in 1992, the residence combines furnished occupancy with a shore-oriented setting.
The property is about a block from the ocean and close to the Seaside Heights Boardwalk, local dining, Seaside Bridge, Barnegat Bay, water sports, and marinas. Parking accommodates two vehicles, pets are welcome, and no rental restrictions are stated for the community. Built in 1992, the residence combines furnished occupancy with a shore-oriented setting.
Key Highlights
- Renovated two‑bedroom residence offered fully furnished
- About a block from the ocean in Pirates Cove at Ortley Beach
- Two private balconies, front porch, and shared courtyard access
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
$21,314
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
3.74%
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%
$426,280
$426.3K
Cap Rate 7%
$304,486
$304.5K
Cap Rate 9%
$236,822
$236.8K
Market Conditions
NOI Build-Up for 1,386 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
$41.6K $30.00/SF
− Vacancy
−$2.8K −$2.04/SF
EGI
$38.8K $27.96/SF
− OpEx
−$17.4K −$12.58/SF
NOI
$21.3K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$426,280
Cap Rate 7%
$304,486
Cap Rate 9%
$236,822
Alternative Uses
Best Use
Apartment 5plus
$304.5K
$266.4K – $355.2K
NOI $21,314 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$361.9K
$316.7K – $422.2K
NOI $25,334 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Turnkey coastal residence with two private balconies, in-unit laundry, and parking for two vehicles.
Where is this residential income property located?
The property is located at 1709 N ROUTE 35 #9 SEASIDE Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Renovated two‑bedroom residence offered fully furnished; About a block from the ocean in Pirates Cove at Ortley Beach; Two private balconies, front porch, and shared courtyard access
