Building Details

Year Built 2023

Listing Agency: Keller Williams Premier m***@kw.com Show Phone

Listed By: Andrew J Usmiani Sr. · License #2293478 Show Phone

Source: Cummingsrealtors

Added: Oct 19 Changed: Oct 21 Last Checked: Oct 21 at 2:10AM

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Investment Insights

Based on property information with market context.

This 853-square-foot Harbor Model home was built in 2023 and offers single-level living within the Coastal Woods 55+ community. The open-concept layout includes a private balcony at the rear of the building, with views toward wooded surroundings. Appliances are included, and custom plantation shutters have been installed throughout. Furniture is negotiable.

Community amenities include a clubhouse, exercise room, recreation facilities and social room. The HOA covers exterior maintenance, lawn care, snow removal and management, along with community facilities. The property is a short drive from beaches, parks, shopping, dining and major transportation routes.

Key Highlights

• 853 SF Harbor Model home in a 55+ community
• Built in 2023
• Rear‑of‑building balcony with wooded views

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,117

Cap Rate

5.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$262,340 $262.3K

Cap Rate 7%

$187,386 $187.4K

Cap Rate 9%

$145,744 $145.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 853 SF

Gross rent

$25.6K $30.00/SF

− Vacancy

−$1.7K −$2.04/SF

EGI

$23.8K $27.96/SF

− OpEx

−$10.7K −$12.58/SF

NOI

$13.1K $15.38/SF

Area

Ocean 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 Rate 5%

$262,340

Cap Rate 7%

$187,386

Cap Rate 9%

$145,744

Alternative Uses

Best Use

Apartment 5plus

$187.4K

$164.0K – $218.6K (±1% cap)

NOI $13,117 @ 7.0% cap · market cap 5.05%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$222.7K

$194.9K – $259.9K (±1% cap)

NOI $15,591 @ 7.0% cap · market cap 6.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

18

Businesses Nearby

Explore this area Business Placement

Demographics for 08005, NJ

25,814

Population

11,671

Households

2.2

Avg Household Size

49

Median Age

34%

College-Educated

94%

High-School Grad

53.5 sq mi

ZIP Area

483

Density / Sq Mi

$92,548

Median Household Income

$47,209

Median Earnings

$1,949

Median Rent

$356,200

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - A one-level home in a 55+ community includes appliances, custom shutters and access to shared recreation facilities.

Where is this residential income property located?

The property is located at 750 LIGHTHOUSE DRIVE #2205 Barnegat, NJ.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: 853 SF Harbor Model home in a 55+ community; Built in 2023; Rear‑of‑building balcony with wooded views