Two-Family Duplex With Fenced
For Sale
$789,999
230 Hamilton Avenue, Seaside Heights, NJ 08751
Two-unit property with separate kitchens, shared laundry, backyard access, and dedicated storage space.
Property Size1,884 SF
Price / SF$419.32
Days on Market26
Property Features for 230 Hamilton Avenue
General Information
Standard status
Active
Size
1,884 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
shared laundry
fenced patio
storage shed
walk-in storage area
Building Details
Year Built
1930
Listing Agency:
Paradise Real Estate Group
Listed By:
Megan Kilmurray
(833) 740-1234
Source:
Actionplusrealty
Added: Jul 28
Changed: Aug 21
Last Checked: Aug 21 at 11:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Paradise Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1930, this 1,884-square-foot duplex contains two residential units with a flexible layout for occupancy or rental use. The main unit includes three bedrooms, one full bath, hardwood floors, natural light, and an updated kitchen with stainless steel appliances, granite countertops, and a tile backsplash. The lower unit provides two bedrooms, one full bath, a full kitchen with granite countertops, and access to the backyard.
Shared laundry is located near a walk-in storage area, while the exterior includes a large fully fenced patio and storage shed. The property is positioned three blocks from the beach and two blocks from the bay at 230 Hamilton Avenue in Seaside Heights, New Jersey.
Shared laundry is located near a walk-in storage area, while the exterior includes a large fully fenced patio and storage shed. The property is positioned three blocks from the beach and two blocks from the bay at 230 Hamilton Avenue in Seaside Heights, New Jersey.
Key Highlights
- Two‑family duplex with 1,884 SF of building area
- Main unit offers 3 bedrooms, 1 full bath, and an updated kitchen
- Lower unit includes 2 bedrooms, 1 full bath, and a full kitchen
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
$31,531
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
3.99%
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%
$630,620
$630.6K
Cap Rate 7%
$450,443
$450.4K
Cap Rate 9%
$350,344
$350.3K
Market Conditions
NOI Build-Up for 1,884 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
$48.2K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.0K $23.91/SF
− OpEx
−$13.5K −$7.17/SF
NOI
$31.5K $16.74/SF
Area
Ocean 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 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%
$630,620
Cap Rate 7%
$450,443
Cap Rate 9%
$350,344
Alternative Uses
Best Use
Multifamily LT 5
$450.4K
$394.1K – $525.5K
NOI $31,531 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$413.9K
$362.2K – $482.9K
NOI $28,972 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,437 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate kitchens, shared laundry, backyard access, and dedicated storage space.
Where is this duplex located?
The property is located at 230 Hamilton Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $789,999.
What are key features of this property?
This property features: Two‑family duplex with 1,884 SF of building area; Main unit offers 3 bedrooms, 1 full bath, and an updated kitchen; Lower unit includes 2 bedrooms, 1 full bath, and a full kitchen
