221 Chestnut Street Toms River, NJ 08753
MULTI_FAMILY - Toms River, NJ
Property Features for 221 Chestnut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Basement
- Parking features
- Off Street
- Fencing
- Fenced
- Basement
- Full
- Standard status
- Active
- APN
- 08-00591-22-00024
- Size
- 1,825 SF
- Lot size
- 0.48 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7396
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Zoned
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
Listing agent Robert G Bornstein (732) 341-8840
Listing office 1-2-3 REALTORS 1851 Hooper Ave, Suite B6, Toms River, NJ (732) 341-8840
Listing date Jul 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.
Investment Insights
Based on property information with market context.
The duplex sits on approximately 0.48 acres and includes a new paved parking lot and lockable storage on site for each unit. Interior upgrades are noted as completed for Unit B in 2025, including new windows, a granite kitchen, stainless appliances, new floors, and plumbing.
Interior photos were taken prior to tenant occupancy. Full details and financials are available by request, and visits are by appointment only.
Key Highlights
- Fully rented 2‑family home with each unit featuring 2 bedrooms, 1 bath, and a living area with appliances
- Separate utility meters for both units; central air and forced‑air (zoned) heating
- New paved parking lot with off‑street parking and fenced, oversized yard
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 | $46.6k | $25.56 |
| − Vacancy | −$3.0k | −$1.65 |
| EGI | $43.6k | $23.91 |
| − OpEx | −$13.1k | −$7.17 |
| NOI | $30.5k | $16.74 |
