Two-Unit Duplex with
For Sale
$655,000
Pending
282 Morris Avenue, Long Branch, NJ 07740
Multi-family property with separate living spaces, kitchens, and bedroom layouts suitable for rental or owner occupancy.
Property Size1,664 SF
Days on Market164
Property Features for 282 Morris Avenue
General Information
Standard status
Pending
Size
1,664 SF
Property subtype
Multi-Family / Duplex
Zoning
Multi-Family
Taxes and HOA fees
Annual Taxes
$8,688
Amenities
Ceramic Tile, Laminate, Wood
Vinyl
2
Full
5
Attic - Walk Up, First Floor Bedroom, Recessed Lighting
2.0
No
Shingle
Lighting, Shed, Fence, Patio
Building Details
Year Built
1910
Listing Agency:
RE/MAX CENTRAL
Listed By:
MATTHEW TULLY · License #2075152
(908) 692-9227
Source:
Compass
Added: May 7
Changed: Oct 11
Last Checked: Oct 16 at 11:14AM
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 RE/MAX CENTRAL
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,664 square feet and was built in 1910. The lower residence includes three bedrooms, a full bathroom, living room, and kitchen, while the upper residence provides two bedrooms, a full bathroom, living room, and kitchen. Interior details include ceramic tile, laminate, wood, and vinyl flooring, along with a walk-up attic, recessed lighting, and a first-floor bedroom.
The property is located at 282 Morris Avenue in Long Branch, near the Jersey Shore. Exterior improvements include a patio, fenced areas, lighting, and a shed. Multi-Family zoning supports the property's two-residence configuration, with separate units that can accommodate rental use, owner occupancy, or multi-generational living.
The property is located at 282 Morris Avenue in Long Branch, near the Jersey Shore. Exterior improvements include a patio, fenced areas, lighting, and a shed. Multi-Family zoning supports the property's two-residence configuration, with separate units that can accommodate rental use, owner occupancy, or multi-generational living.
Key Highlights
- Two‑unit duplex totaling 1,664 square feet
- First‑floor unit with 3 bedrooms and 1 full bathroom
- Second‑floor unit with 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,849
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,980
$557.0K
Cap Rate 7%
$397,843
$397.8K
Cap Rate 9%
$309,433
$309.4K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$42.5K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$39.8K $23.91/SF
− OpEx
−$11.9K −$7.17/SF
NOI
$27.8K $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 Rate 5%
$556,980
Cap Rate 7%
$397,843
Cap Rate 9%
$309,433
Alternative Uses
Best Use
Multifamily LT 5
$397.8K
$348.1K – $464.2K
NOI $27,849 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$365.6K
$319.9K – $426.5K
NOI $25,589 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$434.5K
$380.2K – $506.9K
NOI $30,415 @ 7.0% cap · market cap 4.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,630
Businesses Nearby
Explore this area
Business Placement
Demographics for 07740, NJ
31,905
Population
15,208
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
84%
High-School Grad
5.3 sq mi
ZIP Area
6,020
Density / Sq Mi
$73,806
Median Household Income
$38,614
Median Earnings
$1,744
Median Rent
$521,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Multi-family property with separate living spaces, kitchens, and bedroom layouts suitable for rental or owner occupancy.
Where is this duplex located?
The property is located at 282 Morris Avenue Long Branch, NJ.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,664 square feet; First‑floor unit with 3 bedrooms and 1 full bathroom; Second‑floor unit with 2 bedrooms and 1 full bathroom
