Renovated Duplex with
New
For Sale
$750,000
313 Grant Avenue, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size1,550 SF
Lot Size0.06 Acres
Price / SF$483.87
Days on Market4
Property Features for 313 Grant Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential, Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2
Parking
2
Parking features
Carport
Window features
Low-e Window Coating, Insulated Windows
Patio and Porch features
Patio, Deck
Exterior features
Deck, Thermal Window, Lighting
Fencing
Fenced
Basement
Crawl Space
Directions
Grant Ave.
Subdivision
Seaside Heights
Standard status
Active
Size
1,550 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Cedar Shake
Roof type
Shingle
Listing Agency:
Keller Williams City Life · Keller Williams Realty
(201) 659-8600
Listed By:
Christopher Piechocki · License #0233094
(201) 978-1110
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 20 at 5:06PM
MLS# 22629643
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 duplex property includes two detached dwellings on a 0.06-acre lot, with a combined property size of 1,550 square feet. The residences have been renovated and feature vinyl flooring, central air, thermal windows, patios, and a deck. Cedar shake construction, shingle roofing, exterior lighting, and fencing add to the physical improvements. The room count includes five bedrooms and three bathrooms.
Built in 1970, the property is served by public water and public sewer. A carport provides on-site covered parking. Its two-dwelling configuration supports multi-generational living, personal use alongside rental income, or continued use as a residential income property, as described in the listing information.
Built in 1970, the property is served by public water and public sewer. A carport provides on-site covered parking. Its two-dwelling configuration supports multi-generational living, personal use alongside rental income, or continued use as a residential income property, as described in the listing information.
Key Highlights
- Two detached dwellings on a 0.06‑acre lot
- 1,550 square feet with 5 bedrooms and 3 bathrooms
- Renovated interiors with vinyl flooring and central air
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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two detached dwellings offer flexible residential use with outdoor living areas and a carport.
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 detached dwellings on a 0.06‑acre lot; 1,550 square feet with 5 bedrooms and 3 bathrooms; Renovated interiors with vinyl flooring and central air
