Duplex with Attached
For Sale
$232,000
Pending
18 Milford Avenue, Whiting, NJ 08759
Residential, Duplex, Whiting, NJ
Property Size1,113 SF
Lot Size0.13 Acres
Days on Market180
Property Features for 18 Milford Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Planned Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Utility Room, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 1, Dining Room, Bathroom 2
Parking features
Driveway
Patio and Porch features
Porch, Patio
Pets allowed
Dogs OK, Cats OK
Interior features
Attic - Pull Down Stairs
Exterior features
Underground Sprinkler System, Storm Window, Lighting
Basement
Crawl Space
Subdivision
Crestwood 5
Lot features
Treed Lots
Middle school
Manchester TWP
High school
Manchester Twnshp
Directions
SCHOOLHOUSE RD. TO DEERFIELD DR. LEFT TO MILFORD AVE
Standard status
Pending
APN
19-00075-102-00009
Size
1,113 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3134
HOA Fee
$173 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Forced Air, Electric (Heating)
Cooling system
Zoned, Electric, Central Air
Water source
Public
Amenities
eat-in kitchen with granite countertops
pantry closet
enclosed sunroom/porch
designated laundry room
central air conditioning
natural gas forced-air heating
screened outdoor room
Building Details
Year built
1977
Floors in Building
1
Flooring type
Laminate, Tile - Ceramic
Building materials
Aluminum Siding, Brick Veneer
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Heart of Gold Realty
(609) 339-2652
Listed By:
Kenneth R Freeman
(732) 458-1077
Added: Mar 18
Changed: Sep 12
Last Checked: Sep 13 at 10:06AM
MLS# 22607092
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.
Located at 18 Milford Avenue in Whiting, this duplex is part of Crestwood Village 5, a 55+ community. The ranch-style residence provides 1,113 square feet with two bedrooms, 1 1/2 bathrooms, and an open living and dining area. An eat-in kitchen includes granite countertops and a pantry, while the enclosed porch, screened outdoor room, laundry room, and attached garage add functional living and storage space.
Interior finishes include laminate and ceramic tile flooring. The property also features central air conditioning, public water, public sewer, a shingle roof, aluminum siding with brick veneer, and a driveway. Built in 1977, the home sits on a 0.13-acre lot and includes an underground sprinkler system, storm windows, exterior lighting, and pull-down attic stairs.
Interior finishes include laminate and ceramic tile flooring. The property also features central air conditioning, public water, public sewer, a shingle roof, aluminum siding with brick veneer, and a driveway. Built in 1977, the home sits on a 0.13-acre lot and includes an underground sprinkler system, storm windows, exterior lighting, and pull-down attic stairs.
Key Highlights
- Duplex in Crestwood Village 5, a 55+ community
- 1,113 square feet with 2 bedrooms and 1 1/2 bathrooms
- Attached garage with direct entry and driveway parking
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
$18,627
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
8.03%
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%
$372,540
$372.5K
Cap Rate 7%
$266,100
$266.1K
Cap Rate 9%
$206,967
$207.0K
Market Conditions
NOI Build-Up for 1,113 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
$28.4K $25.56/SF
− Vacancy
−$1.8K −$1.65/SF
EGI
$26.6K $23.91/SF
− OpEx
−$8.0K −$7.17/SF
NOI
$18.6K $16.74/SF
Area
Ocean 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%
$372,540
Cap Rate 7%
$266,100
Cap Rate 9%
$206,967
Alternative Uses
Best Use
Multifamily LT 5
$266.1K
$232.8K – $310.5K
NOI $18,627 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$244.5K
$214.0K – $285.3K
NOI $17,116 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$290.6K
$254.3K – $339.1K
NOI $20,344 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 08759, NJ
34,547
Population
22,101
Households
1.6
Avg Household Size
69
Median Age
23%
College-Educated
93%
High-School Grad
61.3 sq mi
ZIP Area
564
Density / Sq Mi
$55,000
Median Household Income
$41,089
Median Earnings
$1,324
Median Rent
$176,600
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-bedroom residence in a 55+ community with an enclosed porch, eat-in kitchen, and direct garage entry.
Where is this duplex located?
The property is located at 18 Milford Avenue Whiting, NJ.
What is the asking price?
The asking price for this property is $232,000.
What are key features of this property?
This property features: Duplex in Crestwood Village 5, a 55+ community; 1,113 square feet with 2 bedrooms and 1 1/2 bathrooms; Attached garage with direct entry and driveway parking
