Duplex with Owned Solar
For Sale
$599,000
Pending
233 Broadway, Union Beach, NJ 07735
Multi-Family, Union Beach, NJ
Property Size2,482 SF
Lot Size0.24 Acres
Days on Market145
Property Features for 233 Broadway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 5
Patio and Porch features
Deck
Exterior features
Deck
Basement
Full
Middle school
Memorial
Directions
Nj 36,right onto poole,left onto stone rd, turn right onto 1st
Subdivision
Union
Standard status
Pending
APN
50-00106-0000-00016
Size
2,482 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12836
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
spacious backyard
garage
solar panels
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Stone
Listing Agency:
EXP Realty
Listed By:
Anthony Barone
(866) 201-6210
Added: Apr 21
Changed: Sep 5
Last Checked: Sep 12 at 7:06PM
MLS# 22611192
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 2,482-square-foot duplex, built in 1930, contains two residential units on a 0.24-acre lot. The first-floor residence has two bedrooms, a bonus room, and basement access, while the second unit includes two bedrooms. A deck, garage, basement, and off-street parking add functional space for occupants and storage.
Owned solar panels generate SREC credits, creating an additional property feature for the next owner. The building has stone exterior construction and is served by public water and public sewer. Located at 233 Broadway in Union Beach, the property is offered as-is.
Owned solar panels generate SREC credits, creating an additional property feature for the next owner. The building has stone exterior construction and is served by public water and public sewer. Located at 233 Broadway in Union Beach, the property is offered as-is.
Key Highlights
- 2,482‑square‑foot duplex on a 0.24‑acre lot
- Two residential units; first floor includes 2 bedrooms, a bonus room, and basement access
- Second unit features 2 bedrooms
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
$41,539
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
6.93%
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%
$830,780
$830.8K
Cap Rate 7%
$593,414
$593.4K
Cap Rate 9%
$461,544
$461.5K
Market Conditions
NOI Build-Up for 2,482 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
$63.4K $25.56/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$59.3K $23.91/SF
− OpEx
−$17.8K −$7.17/SF
NOI
$41.5K $16.74/SF
Area
Monmouth 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%
$830,780
Cap Rate 7%
$593,414
Cap Rate 9%
$461,544
Alternative Uses
Best Use
Multifamily LT 5
$593.4K
$519.2K – $692.3K
NOI $41,539 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$545.3K
$477.1K – $636.1K
NOI $38,168 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$648.1K
$567.1K – $756.1K
NOI $45,367 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 07735, NJ
18,652
Population
8,411
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
4.9 sq mi
ZIP Area
3,807
Density / Sq Mi
$98,760
Median Household Income
$57,988
Median Earnings
$1,520
Median Rent
$384,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include a bonus room, deck, garage, and off-street parking.
Where is this duplex located?
The property is located at 233 Broadway Union Beach, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,482‑square‑foot duplex on a 0.24‑acre lot; Two residential units; first floor includes 2 bedrooms, a bonus room, and basement access; Second unit features 2 bedrooms
