Renovated Duplex with Detached Two-Car
For Sale
$865,000
Pending
815 Clark Street, Point Pleasant, NJ 08742
MULTI_FAMILY - Point Pleasant, NJ
Property Size1,998 SF
Lot Size0.24 Acres
Days on Market139
Property Features for 815 Clark Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Basement, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 3
Parking features
Oversize, Off Street
Basement
Walk-Out Access
Lot features
Corner Lot, Level
Middle school
Memorial
High school
Point Pleasant Borough
Directions
Arnold Ave to Trenton to Clark Street
Subdivision
Pt Plsnt Boro
Standard status
Pending
APN
25-00112-0000-00029
Size
1,998 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12282
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Multi Units
Amenities
hardwood floors
large eat-in-kitchen
in-unit laundry
open floor plan
separate entrance foyer
central air
full unfinished basement
Building Details
Year built
1916
Floors in Building
1
Number of units
2
Flooring type
Wood
Roof type
Shingle
Listing Agency:
Corcoran Sawyer Smith
(201) 653-8000
Listed By:
Meagan Beriont
(201) 653-8000
Added: Mar 27
Changed: Aug 7
Last Checked: Aug 12 at 1:06AM
MLS# 22608139
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.
Move right into this fully renovated two-family (duplex) home on a corner lot in Point Pleasant. Built in 1916 and completely renovated in 2024, the property includes hardwood flooring, forced-air heating, and central air throughout.
The first-floor unit features two bedrooms and 1.1 bathrooms, an eat-in kitchen, in-unit laundry, and direct access to the backyard. The second-floor unit offers two bedrooms and one bathroom with an open floor plan, plus a separate entrance foyer off the front porch. A full unfinished basement provides additional utility space.
Outside, you’ll find an oversized detached two-car garage with additional loft space, along with two driveways and off-street parking. The home is served by public sewer, has a shingle roof, and is described as not being in a flood zone.
The first-floor unit features two bedrooms and 1.1 bathrooms, an eat-in kitchen, in-unit laundry, and direct access to the backyard. The second-floor unit offers two bedrooms and one bathroom with an open floor plan, plus a separate entrance foyer off the front porch. A full unfinished basement provides additional utility space.
Outside, you’ll find an oversized detached two-car garage with additional loft space, along with two driveways and off-street parking. The home is served by public sewer, has a shingle roof, and is described as not being in a flood zone.
Key Highlights
- Fully renovated in 2024 duplex on a 0.23‑acre corner lot
- Two units: 1st floor 2 beds and 1.1 baths plus in‑unit laundry
- Upstairs unit offers 2 beds and 1 bath with open floor plan and separate entry foyer
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
$33,439
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
3.87%
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%
$668,780
$668.8K
Cap Rate 7%
$477,700
$477.7K
Cap Rate 9%
$371,544
$371.5K
Market Conditions
NOI Build-Up for 1,998 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
$51.1K $25.56/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.8K $23.91/SF
− OpEx
−$14.3K −$7.17/SF
NOI
$33.4K $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%
$668,780
Cap Rate 7%
$477,700
Cap Rate 9%
$371,544
Alternative Uses
Best Use
Multifamily LT 5
$477.7K
$418.0K – $557.3K
NOI $33,439 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$438.9K
$384.1K – $512.1K
NOI $30,725 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$521.7K
$456.5K – $608.7K
NOI $36,520 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Explore this area
Business Placement
Demographics for 08742, NJ
25,056
Population
12,604
Households
2
Avg Household Size
46
Median Age
52%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
4,474
Density / Sq Mi
$111,983
Median Household Income
$57,547
Median Earnings
$1,879
Median Rent
$576,300
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 - Fully renovated two-family home with central air, in-unit laundry, and a detached oversized two-car garage on a corner lot.
Where is this duplex located?
The property is located at 815 Clark Street Point Pleasant, NJ.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Fully renovated in 2024 duplex on a 0.23‑acre corner lot; Two units: 1st floor 2 beds and 1.1 baths plus in‑unit laundry; Upstairs unit offers 2 beds and 1 bath with open floor plan and separate entry foyer
