Duplex With Three-Car
New
For Sale
$774,900
608 Princeton Ave, Brick, NJ 08724
Two-unit residential property with hardwood flooring, separate laundry equipment, and a recently installed HVAC system.
Property Size1,470 SF
Price / SF$527.14
Days on Market2
Property Features for 608 Princeton Ave
General Information
Standard status
Active
Size
1,470 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
hardwood floors
in-unit washer/dryer
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Era Central Realty Group
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Sep 7
Changed: Sep 8
Last Checked: Sep 8 at 5:30AM
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 Era Central Realty Group
Investment Insights
Based on property information with market context.
Built in 1950, this 1,470-square-foot duplex contains two residential units, each with 2 bedrooms, 1 full bath, hardwood floors, and separate washer and dryer equipment. The property is situated on a conforming double lot and includes a new HVAC system.
An oversized 3-car garage provides substantial accessory space for storage or workshop use. The property is located on Princeton Ave in Brick, with proximity to beaches and the Garden State Parkway.
An oversized 3-car garage provides substantial accessory space for storage or workshop use. The property is located on Princeton Ave in Brick, with proximity to beaches and the Garden State Parkway.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath per unit
- 1,470 square feet on a conforming double lot
- Hardwood floors in both units
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
$24,602
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
3.17%
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%
$492,040
$492.0K
Cap Rate 7%
$351,457
$351.5K
Cap Rate 9%
$273,356
$273.4K
Market Conditions
NOI Build-Up for 1,470 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
$37.6K $25.56/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$35.1K $23.91/SF
− OpEx
−$10.5K −$7.17/SF
NOI
$24.6K $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%
$492,040
Cap Rate 7%
$351,457
Cap Rate 9%
$273,356
Alternative Uses
Best Use
Multifamily LT 5
$351.5K
$307.5K – $410.0K
NOI $24,602 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$322.9K
$282.6K – $376.8K
NOI $22,606 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$383.8K
$335.9K – $447.8K
NOI $26,869 @ 7.0% cap · market cap 3.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 08724, NJ
41,458
Population
17,799
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
3,004
Density / Sq Mi
$98,771
Median Household Income
$51,099
Median Earnings
$1,767
Median Rent
$364,700
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-unit residential property with hardwood flooring, separate laundry equipment, and a recently installed HVAC system.
Where is this duplex located?
The property is located at 608 Princeton Ave Brick, NJ.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath per unit; 1,470 square feet on a conforming double lot; Hardwood floors in both units
