Duplex With Two Detached
For Sale
$599,999
191-193 Park Avenue, Keansburg, NJ 07734
MULTI_FAMILY - Keansburg, NJ
Property Size2,840 SF
Lot Size0.14 Acres
Price / SF$211.27
Days on Market46
Property Features for 191-193 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Basement
Fireplace
1
Elementary school
J. C. Caruso
Middle school
J. R. Bolger
High school
Keansburg
Directions
Route 36 to Main Street. Continue to Port Monmouth Road, left onto Morningside Avenue, right onto Park Avenue. Property on left.
Standard status
Active
APN
23-00042-0000-00002
Size
2,840 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11694
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1945
Number of units
2
Listing Agency:
Real Broker, LLC- Point P
(732) 746-3654
Listed By:
Christine Feola
(732) 746-3654
Added: Jun 22
Changed: Aug 4
Last Checked: Aug 6 at 8:06PM
MLS# 22618829
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 duplex offers two detached homes on one lot, providing flexibility for owner-occupancy or rental income. 191 Park Avenue includes 2 bedrooms and 1 full bath, with a basement and forced-air heating. 193 Park Avenue features 3 bedrooms and 1 full bath, also with a basement. Both homes have newer roofs that are less than one year old, and each benefits from owned solar panels. The homes have zoned central air, and there is a fireplace.
Located in Keansburg, this property is about two blocks from Ideal Beach and Keansburg Beach.
The property is served by public water and public sewer. It was built in 1945.
Located in Keansburg, this property is about two blocks from Ideal Beach and Keansburg Beach.
The property is served by public water and public sewer. It was built in 1945.
Key Highlights
- Two detached homes: 191 Park Avenue (2 beds, 1 full bath) and 193 Park Avenue (3 beds, 1 full bath)
- Newer roofs on both homes, less than one year old
- Owned solar panels on both homes to help offset energy costs
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
$47,531
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
7.92%
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%
$950,620
$950.6K
Cap Rate 7%
$679,014
$679.0K
Cap Rate 9%
$528,122
$528.1K
Market Conditions
NOI Build-Up for 2,840 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
$72.6K $25.56/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$67.9K $23.91/SF
− OpEx
−$20.4K −$7.17/SF
NOI
$47.5K $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%
$950,620
Cap Rate 7%
$679,014
Cap Rate 9%
$528,122
Alternative Uses
Best Use
Multifamily LT 5
$679.0K
$594.1K – $792.2K
NOI $47,531 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$623.9K
$545.9K – $727.9K
NOI $43,674 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$741.6K
$648.9K – $865.2K
NOI $51,911 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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 - Duplex featuring two detached homes with newer roofs, owned solar panels, and central air with forced-air heat and a fireplace.
Where is this duplex located?
The property is located at 191-193 Park Avenue Keansburg, NJ.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Two detached homes: 191 Park Avenue (2 beds, 1 full bath) and 193 Park Avenue (3 beds, 1 full bath); Newer roofs on both homes, less than one year old; Owned solar panels on both homes to help offset energy costs
