Updated Duplex with Detached
For Sale
$999,999
9 Kearney Street Unit A, Keyport, NJ 07735
Two three-bedroom residences include two baths each, plus a detached two-car garage on an oversized corner lot.
Property Size2,193 SF
Price / SF$455
Days on Market214
Property Features for 9 Kearney Street Unit A
General Information
Standard status
Active
Size
2,193 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Duplex
Net Operating Income
$68,781
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$83,400
Taxes and HOA fees
Annual Taxes
$10,738
Amenities
1
Other
3
2.0
0.0
No
Building Details
Year Built
1960
Listing Agency:
C21 Thomson & Co.
(732) 945-7035
Listed By:
Kyle Golden · License #1646836
(732) 945-7035
Source:
Compass
Added: Jan 30
Changed: Aug 30
Last Checked: Aug 31 at 10:27PM
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 C21 Thomson & Co.
Investment Insights
Based on property information with market context.
This updated duplex contains 2,193 square feet and was built in 1960. Each unit provides 3 bedrooms and 2 baths, creating a consistent two-residence layout. A detached 2-car garage and oversized corner lot add functional outdoor and storage space.
The property is located at 9 Kearney Street, Unit A, in Keyport, New Jersey. It is approximately 15 minutes from the Netflix headquarters in Eatontown, with a short drive to a train station and ferry service. The property is not in a flood zone.
The property is located at 9 Kearney Street, Unit A, in Keyport, New Jersey. It is approximately 15 minutes from the Netflix headquarters in Eatontown, with a short drive to a train station and ferry service. The property is not in a flood zone.
Key Highlights
- Updated duplex with 2,193 square feet
- Two units, each with 3 bedrooms and 2 baths
- Detached 2‑car garage
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
$36,702
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
3.67%
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%
$734,040
$734.0K
Cap Rate 7%
$524,314
$524.3K
Cap Rate 9%
$407,800
$407.8K
Market Conditions
NOI Build-Up for 2,193 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
$56.1K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.4K $23.91/SF
− OpEx
−$15.7K −$7.17/SF
NOI
$36.7K $16.74/SF
Area
Monmouth 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%
$734,040
Cap Rate 7%
$524,314
Cap Rate 9%
$407,800
Alternative Uses
Best Use
Multifamily LT 5
$524.3K
$458.8K – $611.7K
NOI $36,702 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$481.8K
$421.6K – $562.1K
NOI $33,724 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$572.6K
$501.1K – $668.1K
NOI $40,085 @ 7.0% cap · market cap 4.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 07735, NJ
18,652
Population
8,411
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
4.9 sq mi
ZIP Area
3,807
Density / Sq Mi
$98,760
Median Household Income
$57,988
Median Earnings
$1,520
Median Rent
$384,700
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 three-bedroom residences include two baths each, plus a detached two-car garage on an oversized corner lot.
Where is this duplex located?
The property is located at 9 Kearney Street Unit A Keyport, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Updated duplex with 2,193 square feet; Two units, each with 3 bedrooms and 2 baths; Detached 2‑car garage
