Renovated Condo in Brick,
24 Northrup Drive Brick, NJ 08724
For Sale
$259,000
Move-in ready, renovated 2-bedroom condo in a desirable Brick community.
Property Size1,022 SF
Price / SF$253.42
Days on Market355
Property Features for 24 Northrup Drive
General Information
Standard status
Active
Size
1,022 SF
Property subtype
Condominium
Building Details
Year Built
1975
Listing Agency:
Resources Real Estate
(732) 212-0440
Listed By:
Gloria Chung
(732) 212-0440
Source:
Kw
Added: Aug 7, 2025
Changed: Jul 6
Last Checked: Jul 27 at 11:37AM
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 Resources Real Estate
Investment Insights
Based on property information with market context.
This renovated condominium is located within the Burnt Tavern Manor Condos, a community in Brick, New Jersey. Situated on the second floor of a two-story building, this single-story unit offers privacy. The property features two bedrooms and one full bathroom. The unit was fully renovated in 2023 and is move-in ready. The living areas are fitted with wood-look luxury vinyl flooring, while the bedrooms are carpeted. The kitchen includes granite countertops, new cabinetry, and stainless steel appliances. A new A/C handler was installed in 2022, and a new hot water heater was installed in 2024. The property size is 1,022 square feet.
Key Highlights
- Fully renovated in 2023 and move‑in ready.
- New A/C handler (2022) and new hot water heater (2024).
- Second (top) floor unit provides privacy and quiet atmosphere.
Financial Insights For Apartment 5plus
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 | $30.7k | $30.00 |
| − Vacancy | −$2.1k | −$2.04 |
| EGI | $28.6k | $27.96 |
| − OpEx | −$12.9k | −$12.58 |
| NOI | $15.7k | $15.38 |
1,022 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$224.5K
$196.5K – $261.9K
NOI $15,716 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$266.9K
$233.5K – $311.4K
NOI $18,681 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Move-in ready, renovated 2-bedroom condo in a desirable Brick community.
Where is this apartment building located?
The property is located at 24 Northrup Drive Brick, NJ.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Fully renovated in 2023 and move‑in ready.; New A/C handler (2022) and new hot water heater (2024).; Second (top) floor unit provides privacy and quiet atmosphere.
