Two-Building Duplex
3 Carolina Avenue, Port Monmouth, NJ 07758
For Sale
New
$1,099,000
Multi-Family, Port Monmouth, NJ
Property Size3,068 SF
Lot Size0.23 Acres
Price / SF$358.21
Days on Market4
Property Features for 3 Carolina Avenue
General Information
Property type
Property subtype
Property condition
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Exterior features
Basement
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Buildings
Listing Agency:
VRI Homes
Listed By:
Anthony Genovese · License #NJ1859350
(732) 264-9593
Added: Nov 6
Last Checked: Nov 9 at 3:06AM
MLS# 22635230
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.
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Investment Insights
Based on property information with market context.
This under-construction duplex property comprises a 2,080-square-foot, two-story main residence and a detached two-car garage with a 988-square-foot apartment above. The main home is planned with three bedrooms and three full bathrooms, an open kitchen, living and dining area, pantry, center island, second-floor laundry, and primary suite with a walk-in closet. A covered front porch, rear deck, and unfinished cellar are also part of the design. Renderings are conceptual, and final construction may differ.
The apartment contains two bedrooms and one bathroom. It is deed-restricted as an affordable unit under a Middletown agreement, with tenant eligibility and rents governed by township requirements. The unit is leased through 12/31/26. The property occupies 0.23 acres and is zoned R-7, near the Belford ferry, Route 36, and Sandy Hook.
The apartment contains two bedrooms and one bathroom. It is deed-restricted as an affordable unit under a Middletown agreement, with tenant eligibility and rents governed by township requirements. The unit is leased through 12/31/26. The property occupies 0.23 acres and is zoned R-7, near the Belford ferry, Route 36, and Sandy Hook.
Key Highlights
- 3,068 square feet across the main residence and apartment
- 0.23‑acre site zoned R‑7
- Main residence planned with 3 bedrooms and 3 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,347
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,940
$1.0M
Cap Rate 7%
$733,529
$733.5K
Cap Rate 9%
$570,522
$570.5K
Market Conditions
NOI Build-Up for 3,068 SF
Gross rent
$78.4K $25.56/SF
− Vacancy
−$5.1K −$1.65/SF
EGI
$73.4K $23.91/SF
− OpEx
−$22.0K −$7.17/SF
NOI
$51.3K $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%
$1,026,940
Cap Rate 7%
$733,529
Cap Rate 9%
$570,522
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.8K – $855.8K
NOI $51,347 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$674.0K
$589.8K – $786.3K
NOI $47,180 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$801.1K
$701.0K – $934.6K
NOI $56,078 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 07758, NJ
4,942
Population
1,653
Households
3
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
3,089
Density / Sq Mi
$121,150
Median Household Income
$55,761
Median Earnings
$1,203
Median Rent
$478,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Monmouth County, NJ
Properties on Market for Duplexes in Monmouth County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The under-construction residence includes a separate apartment above a detached two-car garage.
Where is this duplex located?
The property is located at 3 Carolina Avenue Port Monmouth, NJ.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 3,068 square feet across the main residence and apartment; 0.23‑acre site zoned R‑7; Main residence planned with 3 bedrooms and 3 full bathrooms
