Duplex with Separate
New
For Sale
$589,000
173 - 173A Forest Avenue, Keansburg, NJ 07734
Multi-Family, Keansburg, NJ
Property Size1,604 SF
Lot Size0.20 Acres
Price / SF$367.21
Days on Market4
Property Features for 173 - 173A Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2, Basement
Basement
Dirt Floor
Elementary school
Port Monmouth Rd
Middle school
J. R. Bolger
High school
Keansburg
Directions
Hwy 36 left on Main St. left on Forest Ave. on left
Standard status
Active
APN
23-00119-0000-00021
Size
1,604 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9144
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Keller Williams Realty East Monmouth
(732) 704-4033
Listed By:
Allison M Kane · License #0572876
(732) 203-1290
Added: Oct 10
Last Checked: Oct 13 at 3:06AM
MLS# 22632108
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 legal two-family property contains 1,604 square feet across two residences, each accessed through a private entrance. The larger residence has 3 bedrooms and 2 full bathrooms; the second has 2 bedrooms and 1 full bathroom. Built in 1928, the property sits on a 0.2-acre lot with a driveway. Heating is provided by baseboard systems, and the home has a shingle roof.
Public water and public sewer serve the property. Its Keansburg setting is described as close to the Bayshore, beaches, shopping, local attractions, and transportation.
Public water and public sewer serve the property. Its Keansburg setting is described as close to the Bayshore, beaches, shopping, local attractions, and transportation.
Key Highlights
- Two legal residences, each with a separate private entrance
- Unit mix: 3 bedrooms and 2 full bathrooms; 2 bedrooms and 1 full bathroom
- 1,604 square feet on a 0.2‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,845
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,900
$536.9K
Cap Rate 7%
$383,500
$383.5K
Cap Rate 9%
$298,278
$298.3K
Market Conditions
NOI Build-Up for 1,604 SF
Gross rent
$41.0K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$38.3K $23.91/SF
− OpEx
−$11.5K −$7.17/SF
NOI
$26.8K $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 Rate 5%
$536,900
Cap Rate 7%
$383,500
Cap Rate 9%
$298,278
Alternative Uses
Best Use
Multifamily LT 5
$383.5K
$335.6K – $447.4K
NOI $26,845 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$352.4K
$308.3K – $411.1K
NOI $24,666 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$418.8K
$366.5K – $488.7K
NOI $29,319 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
508
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences include a three-bedroom home and a two-bedroom unit, each with its own entry.
Where is this duplex located?
The property is located at 173 - 173A Forest Avenue Keansburg, NJ.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Two legal residences, each with a separate private entrance; Unit mix: 3 bedrooms and 2 full bathrooms; 2 bedrooms and 1 full bathroom; 1,604 square feet on a 0.2‑acre lot
