Duplex with Updated
For Sale
$799,000
40 Bay Shore Drive, Toms River, NJ 08753
MULTI_FAMILY - Toms River, NJ
Property Size1,704 SF
Lot Size0.14 Acres
Price / SF$468.90
Days on Market48
Property Features for 40 Bay Shore Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3
Parking features
On Street, Paved or Surfaced
Subdivision
Bayshore
Lot features
Bayside
View
Water
Elementary school
East Dover
Middle school
TR Intr East
High school
Toms River East
Directions
rt 37
Standard status
Active
APN
08-00794-45-00010
Size
1,704 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9889
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Well
Water front
1
Building Details
Year built
1955
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
Real Broker, LLC- Toms River
(732) 341-2227
Listed By:
Margaret Cooper · License #1750809
(732) 341-2227
Added: Jul 16
Changed: Aug 17
Last Checked: Sep 1 at 10:06AM
MLS# 22621707
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 well-maintained two-story duplex offers a functional layout with multiple bedrooms and full bathrooms. The home includes an updated kitchen, bright living areas, vinyl flooring, a basement, and central air conditioning. Outside, the property features a private yard and off-street parking, with paved or surfaced parking noted in the parking details.
The home sits on a 60x100 lot (0.14 acres) and was built in 1955. Utilities include well water and public sewer, and the roof is shingle. The location in the Bayshore section of Toms River provides convenient access to Route 37, marinas, shopping, and local beaches.
The property is described as suitable for year-round living, seasonal use, or as an investment, supported by its multi-bedroom, multi-bath configuration and off-street parking.
The home sits on a 60x100 lot (0.14 acres) and was built in 1955. Utilities include well water and public sewer, and the roof is shingle. The location in the Bayshore section of Toms River provides convenient access to Route 37, marinas, shopping, and local beaches.
The property is described as suitable for year-round living, seasonal use, or as an investment, supported by its multi-bedroom, multi-bath configuration and off-street parking.
Key Highlights
- Updated kitchen in a well‑maintained two‑story duplex
- On a 60x100 lot (0.14 acres) with a private yard
- 1,704 SF duplex home built in 1955 with basement
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
$28,518
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
3.57%
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%
$570,360
$570.4K
Cap Rate 7%
$407,400
$407.4K
Cap Rate 9%
$316,867
$316.9K
Market Conditions
NOI Build-Up for 1,704 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
$43.6K $25.56/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.7K $23.91/SF
− OpEx
−$12.2K −$7.17/SF
NOI
$28.5K $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%
$570,360
Cap Rate 7%
$407,400
Cap Rate 9%
$316,867
Alternative Uses
Best Use
Multifamily LT 5
$407.4K
$356.5K – $475.3K
NOI $28,518 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$374.3K
$327.6K – $436.7K
NOI $26,204 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$444.9K
$389.3K – $519.1K
NOI $31,146 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 08753, NJ
64,369
Population
27,900
Households
2.3
Avg Household Size
42
Median Age
36%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
2,799
Density / Sq Mi
$101,648
Median Household Income
$54,291
Median Earnings
$1,742
Median Rent
$377,200
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-story duplex with central air, an updated kitchen, and off-street parking on a private-yard lot.
Where is this duplex located?
The property is located at 40 Bay Shore Drive Toms River, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Updated kitchen in a well‑maintained two‑story duplex; On a 60x100 lot (0.14 acres) with a private yard; 1,704 SF duplex home built in 1955 with basement
