Updated Duplex with Private
New
For Sale
$475,000
198 Main St, Keansburg, NJ 07734
Two one-bedroom residences offer renovated kitchens and bathrooms, private parking, and separate outdoor space.
Property Size1,306 SF
Price / SF$363.71
Days on Market7
Property Features for 198 Main St
General Information
Standard status
Active
Size
1,306 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Cap Rate
7.3%
Utilities to Site
Yes
Amenities
washer/dryer
fenced backyard
Building Details
Year Built
1928
Buildings
1
Listing Agency:
C21 Thomson & Co.
(732) 945-7035
Listed By:
Kyle Golden · License #1646836
Source:
Mynewjerseyrealestate
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 30 at 8:37PM
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 C21 Thomson & Co.
Investment Insights
Based on property information with market context.
This 1928-built duplex contains two one-bedroom, one-bath residences within 1,306 square feet. The property has fully renovated kitchens and bathrooms, new rain gutters, a resurfaced rear exterior, and a new sewer connection to the township. One unit includes a washer and dryer, while the other features a large fenced backyard.
A private driveway provides parking for 3 cars. The property is near the beach, Keansburg Boardwalk, waterpark, shops, restaurants, transportation, and the new Netflix Studios. Its two-unit layout and recent updates support both investor and owner-occupant use.
A private driveway provides parking for 3 cars. The property is near the beach, Keansburg Boardwalk, waterpark, shops, restaurants, transportation, and the new Netflix Studios. Its two-unit layout and recent updates support both investor and owner-occupant use.
Key Highlights
- Two‑unit duplex with a 1 bed, 1 bath layout on each side
- 1,306 SF property built in 1928
- Fully renovated kitchens and bathrooms
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
$21,857
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
4.60%
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%
$437,140
$437.1K
Cap Rate 7%
$312,243
$312.2K
Cap Rate 9%
$242,856
$242.9K
Market Conditions
NOI Build-Up for 1,306 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
$33.4K $25.56/SF
− Vacancy
−$2.2K −$1.65/SF
EGI
$31.2K $23.91/SF
− OpEx
−$9.4K −$7.17/SF
NOI
$21.9K $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%
$437,140
Cap Rate 7%
$312,243
Cap Rate 9%
$242,856
Alternative Uses
Best Use
Multifamily LT 5
$312.2K
$273.2K – $364.3K
NOI $21,857 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$286.9K
$251.1K – $334.7K
NOI $20,084 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$341.0K
$298.4K – $397.9K
NOI $23,872 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
462
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom residences offer renovated kitchens and bathrooms, private parking, and separate outdoor space.
Where is this duplex located?
The property is located at 198 Main St Keansburg, NJ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with a 1 bed, 1 bath layout on each side; 1,306 SF property built in 1928; Fully renovated kitchens and bathrooms
