Renovated Condo in Brick,
For Sale
$259,000
24 Northrup Drive, Brick, NJ 08724
Move-in ready, renovated 2-bedroom condo in a desirable Brick community.
Property Size1,022 SF
Price / SF$253.42
Days on Market446
Property Features for 24 Northrup Drive
General Information
Standard status
Active
Size
1,022 SF
Property subtype
Condominium
Amenities
Central Air
Forced Air
Electric
Deck, Pool, Shingle
Building Details
Building Size
1,022 SF
Year Built
1975
Listing Agency:
Resources Real Estate
Listed By:
Gloria Chung
(732) 212-0440
Source:
Kw
Added: Aug 7, 2025
Changed: Oct 25
Last Checked: Oct 24 at 9:37PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$15,716
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,320
$314.3K
Cap Rate 7%
$224,514
$224.5K
Cap Rate 9%
$174,622
$174.6K
Market Conditions
NOI Build-Up for 1,022 SF
Gross rent
$30.7K $30.00/SF
− Vacancy
−$2.1K −$2.04/SF
EGI
$28.6K $27.96/SF
− OpEx
−$12.9K −$12.58/SF
NOI
$15.7K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,320
Cap Rate 7%
$224,514
Cap Rate 9%
$174,622
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.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
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Business Placement
Demographics for 08724, NJ
41,458
Population
17,799
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
3,004
Density / Sq Mi
$98,771
Median Household Income
$51,099
Median Earnings
$1,767
Median Rent
$364,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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.
