Reconstructed Duplex with Energy
For Sale
$750,000
313 Grant Avenue, Seaside Heights, NJ 08751
Two residences combine separate utility metering with updated systems, efficient windows, and finished interiors.
Property Size1,550 SF
Price / SF$483.87
Days on Market174
Property Features for 313 Grant Avenue
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Residential / Single Family Residence
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$8,509
Amenities
5
Vinyl Plank
Cedar Shake
Eat-In
1
Crawl Space
Personal items.
Skylight(s)
2.0
1.0
2.1
Energy Appliances, Windows: Energy Star Rated, Program Thermostat, Insulated Doors, Windows: Low-e Window Coating, Thermostat, Insulated Windows
No
Shingle, Timberline
Deck, Thermal Window, Patio, Outdoor Shower, Lighting, Fence
Building Details
Year Built
1920
Listing Agency:
Compass New Jersey , LLC
(201) 638-6255
Listed By:
Jack Puso · License #1221725
(201) 638-6255
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Sep 1 at 11:02PM
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 Compass New Jersey , LLC
Investment Insights
Based on property information with market context.
This duplex comprises two residences within approximately 1,550 square feet and was rebuilt from the framing outward. The property includes newer 30-year roofs, insulated siding, Energy Star-rated Low-E windows, and upgraded electrical, PEX plumbing, gas, and sewer infrastructure. Each home has high-efficiency HVAC with Wi-Fi thermostats and a tankless water heater. Interior improvements include waterproof vinyl plank flooring, shaker cabinetry with soft-close hardware, granite countertops, and stainless-steel appliances. The front residence also features vaulted ceilings and Velux solar-powered skylights.
Separate utility meters serve the two homes. Additional property features include a crawl space, deck, patio, fencing, and exterior lighting. Built in 1920, the property is zoned Residential and is located at 313 Grant Avenue in Seaside Heights, New Jersey.
Separate utility meters serve the two homes. Additional property features include a crawl space, deck, patio, fencing, and exterior lighting. Built in 1920, the property is zoned Residential and is located at 313 Grant Avenue in Seaside Heights, New Jersey.
Key Highlights
- Two‑home duplex totaling 1,550 square feet
- Reconstructed from the framing outward with updated electrical, PEX plumbing, gas, and sewer lines
- Separate utility meters for each residence
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
$25,941
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
3.46%
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%
$518,820
$518.8K
Cap Rate 7%
$370,586
$370.6K
Cap Rate 9%
$288,233
$288.2K
Market Conditions
NOI Build-Up for 1,550 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
$39.6K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$37.1K $23.91/SF
− OpEx
−$11.1K −$7.17/SF
NOI
$25.9K $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%
$518,820
Cap Rate 7%
$370,586
Cap Rate 9%
$288,233
Alternative Uses
Best Use
Multifamily LT 5
$370.6K
$324.3K – $432.4K
NOI $25,941 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$340.5K
$298.0K – $397.3K
NOI $23,836 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
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 - Two residences combine separate utility metering with updated systems, efficient windows, and finished interiors.
Where is this duplex located?
The property is located at 313 Grant Avenue Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑home duplex totaling 1,550 square feet; Reconstructed from the framing outward with updated electrical, PEX plumbing, gas, and sewer lines; Separate utility meters for each residence
