Raised Two-Unit
For Sale
$899,999
305 Hamilton Avenue, Seaside Heights, NJ 08751
MULTI_FAMILY - Seaside Heights, NJ
Property Size1,728 SF
Lot Size0.09 Acres
Price / SF$520.83
Days on Market138
Property Features for 305 Hamilton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Basement, Bedroom 4
Parking
3
Parking features
Off Street
Patio and Porch features
Deck
Exterior features
Deck
Fencing
Fenced
Directions
West on Hamilton Avenue from Central Avenue. Residence is on the left about three hundred feet before the stop sign.
Subdivision
Seaside Heights
Standard status
Active
APN
27-00028-0000-00005
Size
1,728 SF
Lot size
0.09 Acres
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Forced Air
Cooling system
Multi Units
Amenities
storage area
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Wood, Tile - Ceramic
Roof type
Shingle
Listing Agency:
Childers Sotheby's Intl Realty
(732) 793-4663
Listed By:
Francis P Larkin · License #1972136
(732) 793-4663
Added: Apr 3
Changed: Aug 7
Last Checked: Aug 18 at 2:06AM
MLS# 22608885
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 raised, flood-compliant two-unit duplex at 305 Hamilton Avenue offers two well-designed units with spacious layouts. Each unit includes two bedrooms and a full bath. The home was recently raised, and there is a large storage area beneath the home with 7-foot ceilings, which can support a range of practical uses.
The property sits on a 0.09-acre lot with off-street parking in the driveway or rear yard, plus a fenced perimeter. Exterior features include a deck. Interior finishes include wood and ceramic tile flooring. Heating is provided by forced air and baseboard systems, and cooling is listed for multi units. The roof is shingle, and the home is served by public sewer. Constructed in 1920.
An unused portion of the oversized lot may provide an opportunity to build a third unit, subject to buyer due diligence with the Borough. Buyers are encouraged to explore this possibility directly.
The property sits on a 0.09-acre lot with off-street parking in the driveway or rear yard, plus a fenced perimeter. Exterior features include a deck. Interior finishes include wood and ceramic tile flooring. Heating is provided by forced air and baseboard systems, and cooling is listed for multi units. The roof is shingle, and the home is served by public sewer. Constructed in 1920.
An unused portion of the oversized lot may provide an opportunity to build a third unit, subject to buyer due diligence with the Borough. Buyers are encouraged to explore this possibility directly.
Key Highlights
- Two units, each with two bedrooms and a full bath
- Recently raised and flood‑compliant duplex
- Storage area beneath home with 7‑foot ceilings
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
$28,920
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
3.21%
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%
$578,400
$578.4K
Cap Rate 7%
$413,143
$413.1K
Cap Rate 9%
$321,333
$321.3K
Market Conditions
NOI Build-Up for 1,728 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
$44.2K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.3K $23.91/SF
− OpEx
−$12.4K −$7.17/SF
NOI
$28.9K $16.74/SF
Area
Ocean 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%
$578,400
Cap Rate 7%
$413,143
Cap Rate 9%
$321,333
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.5K – $482.0K
NOI $28,920 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$379.6K
$332.2K – $442.9K
NOI $26,573 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$451.2K
$394.8K – $526.4K
NOI $31,585 @ 7.0% cap · market cap 3.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Raised, flood-compliant duplex with two two-bedroom, one-bath units and off-street parking.
Where is this duplex located?
The property is located at 305 Hamilton Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Two units, each with two bedrooms and a full bath; Recently raised and flood‑compliant duplex; Storage area beneath home with 7‑foot ceilings
