Updated Duplex Investment
218 Pello Road Brick, NJ 08724
For Sale
$599,900
MULTI_FAMILY - Brick, NJ
Property Size2,324 SF
Lot Size0.28 Acres
Price / SF$258.13
Days on Market48
Property Features for 218 Pello Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 3, Bathroom 2, Basement, Bedroom 2
Parking features
Off Street
Patio and Porch features
Deck
Exterior features
Deck
Fireplace
1
Basement
Crawl Space, Partial
Standard status
Active
APN
07-01094-0000-00002-01
Size
2,324 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9852
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1941
Floors in Building
1
Number of units
2
Flooring type
Laminate
Roof type
Shingle
Listing Agency:
RE/MAX at Barnegat Bay
(609) 693-5002
Listed By:
James Murray · License #0787342
(609) 693-5002
Added: Jun 10
Changed: Jul 21
Last Checked: Jul 27 at 9:06PM
MLS# 22617527
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.
Updated brick duplex is offered for sale as a vacant two-unit residential income property. Both units have been freshly painted and feature newer laminate flooring throughout. The property is heated with natural gas baseboard heat and includes a natural gas water heater. The upstairs unit includes vaulted ceilings, a very large living room with a fireplace, and a spacious main bath with a soaking tub and shower stall. The downstairs unit offers 2 to 3 spacious bedrooms and an updated bathroom. Both units include laundry hookups.
The duplex sits on a lot size of 0.28 acres and provides a large area for parking. Each unit has access to a rear deck, and the property backs to woods. The address is 218 Pello Road in Brick, NJ 08724, in Ocean County.
The layout provides two separate residential units within a single brick property, with interior updates and in-unit laundry hookups to support ongoing occupancy.
The duplex sits on a lot size of 0.28 acres and provides a large area for parking. Each unit has access to a rear deck, and the property backs to woods. The address is 218 Pello Road in Brick, NJ 08724, in Ocean County.
The layout provides two separate residential units within a single brick property, with interior updates and in-unit laundry hookups to support ongoing occupancy.
Key Highlights
- Updated 2‑unit multi‑family built in 1941 on a third‑acre lot
- Freshly painted with newer laminate flooring throughout both units
- Natural gas baseboard heat and natural gas water heater
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.4k | $25.56 |
| − Vacancy | −$3.8k | −$1.65 |
| EGI | $55.6k | $23.91 |
| − OpEx | −$16.7k | −$7.17 |
| NOI | $38.9k | $16.74 |
2,324 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$555.6K
$486.2K – $648.3K
NOI $38,895 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$510.5K
$446.7K – $595.6K
NOI $35,738 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$606.8K
$531.0K – $708.0K
NOI $42,479 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Vacant brick two-unit duplex on a third-acre lot with separate laundry hookups and rear decks.
Where is this duplex located?
The property is located at 218 Pello Road Brick, NJ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Updated 2‑unit multi‑family built in 1941 on a third‑acre lot; Freshly painted with newer laminate flooring throughout both units; Natural gas baseboard heat and natural gas water heater
