Duplex With Bay
New
For Sale
$799,000
523 W MAPLE AVENUE, Wildwood, NJ 08260
Two residential units share decks, outdoor amenities, and a fenced rear yard near the bay.
Property Size1,924 SF
Price / SF$415.28
Days on Market5
Property Features for 523 W MAPLE AVENUE
General Information
Standard status
Active
Size
1,924 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
full-length decks
covered lower porch
sunlit upper deck
LVP flooring
ceiling fans
updated kitchens
low-maintenance vinyl siding
private concrete driveway
fenced-in backyard
fire pit
enclosed outdoor shower
oversized elevated shed
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Keller Williams Realty - Atlantic Shore
(609) 703-9208
Listed By:
Flamur Rama
(609) 703-9208
Source:
Cummingsrealtors
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 3:45AM
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 Keller Williams Realty - Atlantic Shore
Investment Insights
Based on property information with market context.
This 1,924-square-foot duplex, built in 1950, includes two separate residential units arranged on upper and lower levels. The upper unit offers three bedrooms and one bath, while the lower unit includes two bedrooms and one bath. Both feature LVP flooring, ceiling fans, and updated kitchens. Full-length outdoor decks extend the living areas, with a covered porch below and an upper deck oriented toward bay views.
The property includes low-maintenance vinyl siding, a private concrete driveway, and a fenced backyard. Exterior amenities include a fire pit, enclosed outdoor shower, and oversized elevated shed. The home is located one block from the bay in West Wildwood, with the address identified as 523 W Maple Avenue, Wildwood, NJ 08260.
The property includes low-maintenance vinyl siding, a private concrete driveway, and a fenced backyard. Exterior amenities include a fire pit, enclosed outdoor shower, and oversized elevated shed. The home is located one block from the bay in West Wildwood, with the address identified as 523 W Maple Avenue, Wildwood, NJ 08260.
Key Highlights
- 1,924 SF duplex with upper and lower residential units
- Upper unit has 3 bedrooms and 1 bath; lower unit has 2 bedrooms and 1 bath
- Full‑length decks on both levels, including an upper deck with bay views
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
$28,479
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
3.56%
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%
$569,580
$569.6K
Cap Rate 7%
$406,843
$406.8K
Cap Rate 9%
$316,433
$316.4K
Market Conditions
NOI Build-Up for 1,924 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
$42.7K $22.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$40.7K $21.15/SF
− OpEx
−$12.2K −$6.34/SF
NOI
$28.5K $14.80/SF
Area
Cape May County, NJ
Vacancy
4.75%
Lease Rate
$22.20 /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%
$569,580
Cap Rate 7%
$406,843
Cap Rate 9%
$316,433
Alternative Uses
Best Use
Multifamily LT 5
$406.8K
$356.0K – $474.7K
NOI $28,479 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$374.0K
$327.2K – $436.3K
NOI $26,178 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$588.9K
$515.3K – $687.1K
NOI $41,226 @ 7.0% cap · market cap 5.16%
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
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
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 residential units share decks, outdoor amenities, and a fenced rear yard near the bay.
Where is this duplex located?
The property is located at 523 W MAPLE AVENUE Wildwood, 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: 1,924 SF duplex with upper and lower residential units; Upper unit has 3 bedrooms and 1 bath; lower unit has 2 bedrooms and 1 bath; Full‑length decks on both levels, including an upper deck with bay views
