218 Pello Road, Brick, NJ 08724
MULTI_FAMILY - Brick, NJ
- Added:
- Jun 10, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 10 at 11:06 pm
Property Features for 218 Pello Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
- Parking features
- Off Street
- Patio and Porch features
- Deck
- Exterior features
- Deck
- Fireplace
- 1
- Basement
- Partial, Crawl Space
- 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 agent James Murray License #0787342 (609) 693-5002
Listing office RE/MAX at Barnegat Bay 221 Lacey Road, Forked River, NJ (609) 693-5002
Listing date Jun 10, 2026
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.
HighLights
- Updated 2‑unit multi‑family on a 3rd‑acre lot with rear decks and wooded rear backing for privacy
- Natural gas baseboard heat plus natural gas water heater, with public water and public sewer
- Newer laminate flooring throughout both units and freshly painted interior
- Upstairs unit features vaulted ceilings and a very large living room with a fireplace
- Main bath includes a soaking tub and a shower stall; downstairs bathroom is updated
- Off‑street parking plus laundry hookups in both units
Overview
The property is located on a third-acre lot at 218 Pello Road in Brick, New Jersey. It is described as being a few blocks from Veterans Memorial High School and middle school, and it provides a large area for parking.
This offering may appeal to investors or owner-occupants seeking a renovated two-unit asset with functional unit layouts, in-unit laundry hookups, and dedicated outdoor deck space for each residence. The natural gas baseboard heating setup and the property’s parking and privacy characteristics support practical day-to-day use for both tenants and management.
Local 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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brick
- County
- Ocean
- State
- New Jersey
- Longitude
- -74.116493
- Latitude
- 40.080403
