Multifamily Property with
New
For Sale
$1,900,000
411 7th Ave, Asbury Park, NJ 07712
Historic residence with an attached apartment, separate cottage, wraparound porch, and flexible living arrangements.
Property Size4,246 SF
Price / SF$447.48
Days on Market2
Property Features for 411 7th Ave
General Information
Standard status
Active
Size
4,246 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
3rd flr has 3 beds but no heat
Building Details
Year Built
1881
Listing Agency:
RE/MAX Gateway
Listed By:
Robert M Roccia · License #230927
(732) 890-0598
Source:
Soldbypattie
Added: Sep 10
Last Checked: Sep 10 at 3:13PM
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 RE/MAX Gateway
Investment Insights
Based on property information with market context.
Built in 1881, this multifamily property includes a substantial main residence, an attached one-bedroom apartment, and a separate two-story cottage. The primary home retains original architectural details, including 10-foot ceilings, hardwood floors, detailed mouldings, a formal dining room, a living room with decorative fireplace, and a large staircase extending through three levels. The fourth level includes a widow's walk. The third floor has three bedrooms but no heat, while the second floor contains two rooms and a bedroom opening to a deck.
A wraparound porch provides separate outdoor areas for the owners and tenant. The property also includes a basement entry and a yard between the two buildings. The attached apartment could be incorporated into the main residence by removing one wall. The existing tenant occupies the property under a month-to-month lease. The property is offered as-is and is currently listed as coming soon and not available for showings.
A wraparound porch provides separate outdoor areas for the owners and tenant. The property also includes a basement entry and a yard between the two buildings. The attached apartment could be incorporated into the main residence by removing one wall. The existing tenant occupies the property under a month-to-month lease. The property is offered as-is and is currently listed as coming soon and not available for showings.
Key Highlights
- Main residence, attached 1‑bedroom apartment, and separate 2‑story cottage
- 4,246 square feet on the property
- Built in 1881 with original architectural details
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
$65,295
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
3.44%
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%
$1,305,900
$1.3M
Cap Rate 7%
$932,786
$932.8K
Cap Rate 9%
$725,500
$725.5K
Market Conditions
NOI Build-Up for 4,246 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
$127.4K $30.00/SF
− Vacancy
−$8.7K −$2.04/SF
EGI
$118.7K $27.96/SF
− OpEx
−$53.4K −$12.58/SF
NOI
$65.3K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,305,900
Cap Rate 7%
$932,786
Cap Rate 9%
$725,500
Alternative Uses
Best Use
Apartment 5plus
$932.8K
$816.2K – $1.09M
NOI $65,295 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$970.1K – $1.29M
NOI $77,610 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
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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?
Multifamily property - Historic residence with an attached apartment, separate cottage, wraparound porch, and flexible living arrangements.
Where is this multifamily property located?
The property is located at 411 7th Ave Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Main residence, attached 1‑bedroom apartment, and separate 2‑story cottage; 4,246 square feet on the property; Built in 1881 with original architectural details
