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    Charming Multifamily Home with Potential Title is generated by Realmo AI

    70 Main Street, Waretown, NJ 08758

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    Pending
    $450,000

    MULTI_FAMILY - Waretown, NJ

    Property size:
    2,304 SF
    Added:
    Oct 27, 2025
    Days on Market:
    203
    Last Refresh:
    May 17 at 8:06 am

    Property Features for 70 Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3
    Parking features
    Oversize
    Basement
    Crawl Space
    Standard status
    Pending
    Size
    2,304 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Zoned, Baseboard
    Cooling system
    Zoned, Central Air
    Water source
    Public

    Building Details

    Year built
    1830
    Number of units
    2
    Roof type
    Shingle

    We can help!

    Listing Contact
    Edward Ramiza

    Listing agent Edward Ramiza License #8436753

    Listing office Coldwell Banker Home Connection Realty 538 N Main Street, Barnegat, NJ

    Listing date Oct 27, 2025

    MLS# 22532565 Listing URL

    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.

    HighLights

    • Assumable mortgage at 3.5% with a balance of $230k.
    • Zoned multi‑family, offering investment or rental income potential.
    • Two kitchens and two private entrances, ideal for mother‑daughter setup or home business.
    • Spacious property with 3 bedrooms and 2 full baths.
    • Oversized, fully fenced lot with detached garage.
    • Separate heating and central air systems with zoned climate control.

    Overview

    This charming home, dating back to the 1800s, presents an investment opportunity with a 3.5% assumable loan. The property features 3 bedrooms and 2 full baths, offering a versatile layout suitable for various living arrangements. It includes two kitchens, separate heating and central air systems, and two private entrances, making it ideal for a mother-daughter setup or a home business. The property is zoned multi-family and situated on an oversized, fully fenced lot. A detached garage provides additional space for outdoor living or future expansion. The home is not classified as historical by the county. The property's flexible design offers potential for investors, extended families, or those seeking to create a unique living space. The property size is 2304 square feet and is located in Waretown, NJ.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $428.4K
    NOI $38,560 @ 9.00% cap · cautious / downside scenario
    Moderate
    $550.9K
    NOI $38,560 @ 7.00% cap · market / base-case scenario
    Aggressive
    $771.2K
    NOI $38,560 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $58.9k $25.56
    − Vacancy −$3.8k −$1.65
    EGI $55.1k $23.91
    − OpEx −$16.5k −$7.17
    NOI $38.6k $16.74
    2,304 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $550.9K
    $482.0K – $642.7K (±1% cap)
    NOI $38,560 @ 7.0% cap · market cap 8.57%
    Second Best
    Apartment 5plus
    $506.2K
    $442.9K – $590.5K (±1% cap)
    NOI $35,431 @ 7.0% cap · market cap 7.87%
    Theoretical Best
    Office A
    $601.6K
    $526.4K – $701.9K (±1% cap)
    NOI $42,113 @ 7.0% cap · market cap 9.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waretown
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.19153
    Latitude
    39.78956

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    FAQs

    What type of property is this?
    Duplex - Versatile multifamily property with two kitchens and separate entrances.
    Where is this duplex located?
    The property is located at 70 Main Street Waretown, NJ.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Assumable mortgage at 3.5% with a balance of $230k.; Zoned multi‑family, offering investment or rental income potential.; Two kitchens and two private entrances, ideal for mother‑daughter setup or home business.
    (609) 698-7003
    We can help!
    Listing Contact
    Edward Ramiza
    Real Estate License ID: 8436753
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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