Two-Unit Duplex with Patio
For Sale
$789,900
Pending
614 Bay Boulevard, Seaside Heights, NJ 08751
MULTI_FAMILY - Seaside Heights, NJ
Property Size1,910 SF
Lot Size0.06 Acres
Days on Market72
Property Features for 614 Bay Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1
Parking
3
Parking features
Off Street
Patio and Porch features
Patio
Fencing
Fenced
Basement
Crawl Space
Lot features
Bayside, Fenced Area
View
Water
Directions
Route 37 to Route 35 to Bay Blvd
Subdivision
Seaside Heights
Standard status
Pending
APN
27-00031-0000-00031-02
Size
1,910 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8486
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Zoned, Central Air
Water source
Public
Water front
1
Amenities
patio
fenced yard
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Revolution
(732) 678-1328
Listed By:
Justin Bosak · License #0449068
(732) 678-1328
Added: Jun 12
Changed: Aug 7
Last Checked: Aug 22 at 10:06AM
MLS# 22617837
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-unit duplex offers 1,900 sq. ft. of versatile living space. The home is split into two separate two-bedroom units with 1 bath each, for a total of four bedrooms and two baths. The upper unit has been recently renovated and features bay views, making the layout well-suited for owner occupancy, multi-generational living, or rental use.
Outdoor entertaining is supported by a spacious paver patio backyard that is fully enclosed with durable vinyl fencing for privacy. Off-street parking accommodates three vehicles, and additional ample parking is located across the street. The property sits on the quiet bay side of town directly across from Sunset Beach, providing convenient access to waterfront recreation.
Built in 1930, the home is served by public water and public sewer. Heating is zoned forced air, and cooling includes central air with zoned operation.
Outdoor entertaining is supported by a spacious paver patio backyard that is fully enclosed with durable vinyl fencing for privacy. Off-street parking accommodates three vehicles, and additional ample parking is located across the street. The property sits on the quiet bay side of town directly across from Sunset Beach, providing convenient access to waterfront recreation.
Built in 1930, the home is served by public water and public sewer. Heating is zoned forced air, and cooling includes central air with zoned operation.
Key Highlights
- 1,900 sq. ft. two‑unit duplex with four bedrooms and two baths
- Recently renovated upper unit with bay views
- Spacious paver patio backyard fully enclosed with durable vinyl fencing
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
$31,966
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
4.05%
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%
$639,320
$639.3K
Cap Rate 7%
$456,657
$456.7K
Cap Rate 9%
$355,178
$355.2K
Market Conditions
NOI Build-Up for 1,910 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
$48.8K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$45.7K $23.91/SF
− OpEx
−$13.7K −$7.17/SF
NOI
$32.0K $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%
$639,320
Cap Rate 7%
$456,657
Cap Rate 9%
$355,178
Alternative Uses
Best Use
Multifamily LT 5
$456.7K
$399.6K – $532.8K
NOI $31,966 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$419.6K
$367.2K – $489.5K
NOI $29,372 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$498.7K
$436.4K – $581.9K
NOI $34,912 @ 7.0% cap · market cap 4.42%
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
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
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 - Duplex with recently renovated upper unit, bay views, fenced paver patio, and off-street parking for three vehicles.
Where is this duplex located?
The property is located at 614 Bay Boulevard Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: 1,900 sq. ft. two‑unit duplex with four bedrooms and two baths; Recently renovated upper unit with bay views; Spacious paver patio backyard fully enclosed with durable vinyl fencing
