Duplex with Detached
For Sale
$449,000
224 N 9th Avenue, Manville, NJ 08835
MULTI_FAMILY - Manville, NJ
Property Size1,920 SF
Lot Size0.17 Acres
Price / SF$233.85
Days on Market20
Property Features for 224 N 9th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 1, Basement
Middle school
Manville
High school
Manville
Directions
9th Street between Knopf Street and Louis Street.
Standard status
Active
APN
11-00028-0000-00011
Size
1,920 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9624
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Listing Agency:
Housemart Realty, LLC
(732) 740-9400
Listed By:
Anthony C Jankowski · License #9332889
(732) 740-9400
Added: Aug 2
Changed: Aug 18
Last Checked: Aug 21 at 9:06AM
MLS# 22623744
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.
This detached duplex offers 1,920 square feet across two stories on a 75-by-100-foot lot. Built in 1945, the home includes separate living and dining areas, hardwood flooring, a basement, and bedrooms on both levels. The kitchen is equipped with a gas range, standard cabinetry, and tile flooring. Public water and public sewer serve the property.
A paved driveway extends through a gated fence to a detached two-car garage, providing off-street parking and additional storage. The property is located near Dukes Parkway Park, local amenities, and major transportation routes in Manville, New Jersey.
A paved driveway extends through a gated fence to a detached two-car garage, providing off-street parking and additional storage. The property is located near Dukes Parkway Park, local amenities, and major transportation routes in Manville, New Jersey.
Key Highlights
- 1,920‑square‑foot detached duplex built in 1945
- 75x100 lot with a two‑story layout and basement
- Bedrooms located on both levels
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
$27,402
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
6.10%
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%
$548,040
$548.0K
Cap Rate 7%
$391,457
$391.5K
Cap Rate 9%
$304,467
$304.5K
Market Conditions
NOI Build-Up for 1,920 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
$41.5K $21.60/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$39.1K $20.39/SF
− OpEx
−$11.7K −$6.12/SF
NOI
$27.4K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /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%
$548,040
Cap Rate 7%
$391,457
Cap Rate 9%
$304,467
Alternative Uses
Best Use
Multifamily LT 5
$391.5K
$342.5K – $456.7K
NOI $27,402 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$340.7K
$298.1K – $397.5K
NOI $23,849 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$501.4K
$438.7K – $584.9K
NOI $35,095 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 08835, NJ
10,953
Population
4,538
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
2.3 sq mi
ZIP Area
4,762
Density / Sq Mi
$93,872
Median Household Income
$45,559
Median Earnings
$1,837
Median Rent
$321,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story layout includes bedrooms on both levels and a paved, gated driveway.
Where is this duplex located?
The property is located at 224 N 9th Avenue Manville, NJ.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,920‑square‑foot detached duplex built in 1945; 75x100 lot with a two‑story layout and basement; Bedrooms located on both levels
