Two-Unit Duplex with Off-Street
For Sale
$489,000
Pending
205 Thompson Avenue, Middletown, NJ 07748
Multi-Family, Middletown, NJ
Property Size1,810 SF
Lot Size0.11 Acres
Days on Market61
Property Features for 205 Thompson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2
Parking features
Off Street
Fencing
Fenced
Lot features
Bayside, Level
Directions
google maps
Standard status
Pending
APN
32-00112-0000-00003
Size
1,810 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7855
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Wood
Roof type
Shingle
Listing Agency:
Rewards Realty
(862) 262-5869
Listed By:
Maria Tsabrova
(908) 323-3878
Added: Aug 17
Changed: Oct 8
Last Checked: Oct 16 at 9:06AM
MLS# 22625744
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.
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Investment Insights
Based on property information with market context.
This two-family duplex contains 1,810 square feet on a 0.11-acre lot. The lower residence has three bedrooms, while the upper residence provides two bedrooms. Interior finishes include wood and ceramic tile flooring, with baseboard heat and multiple cooling units. A basement adds storage or utility space.
The property includes off-street parking and a fenced lot. Public water and public sewer serve the building, and the roof is shingle. Built in 1923, the duplex is occupied by long-term tenants who pay all utilities, including water and sewer.
The property includes off-street parking and a fenced lot. Public water and public sewer serve the building, and the roof is shingle. Built in 1923, the duplex is occupied by long-term tenants who pay all utilities, including water and sewer.
Key Highlights
- Two‑family duplex with 1,810 square feet of building area
- Three‑bedroom lower unit and two‑bedroom upper unit
- 0.11‑acre fenced lot with off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,292
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,840
$605.8K
Cap Rate 7%
$432,743
$432.7K
Cap Rate 9%
$336,578
$336.6K
Market Conditions
NOI Build-Up for 1,810 SF
Gross rent
$46.3K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$43.3K $23.91/SF
− OpEx
−$13.0K −$7.17/SF
NOI
$30.3K $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%
$605,840
Cap Rate 7%
$432,743
Cap Rate 9%
$336,578
Alternative Uses
Best Use
Multifamily LT 5
$432.7K
$378.7K – $504.9K
NOI $30,292 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$397.6K
$347.9K – $463.9K
NOI $27,834 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$472.6K
$413.6K – $551.4K
NOI $33,084 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 07748, NJ
28,169
Population
10,446
Households
2.7
Avg Household Size
43
Median Age
52%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
2,167
Density / Sq Mi
$152,488
Median Household Income
$72,287
Median Earnings
$1,483
Median Rent
$568,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature three- and two-bedroom layouts with off-street parking.
Where is this duplex located?
The property is located at 205 Thompson Avenue Middletown, NJ.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Two‑family duplex with 1,810 square feet of building area; Three‑bedroom lower unit and two‑bedroom upper unit; 0.11‑acre fenced lot with off‑street parking
