Two-Unit Duplex with
For Sale
$459,000
949 Round Avenue, Brick, NJ 08723
Legal two-family property with separate entrances, kitchens, living areas, off-street parking, and an attached garage.
Property Size1,073 SF
Price / SF$427.77
Days on Market22
Property Features for 949 Round Avenue
General Information
Standard status
Active
Size
1,073 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1960
Buildings
1
Tenancy
Multi
Listing Agency:
Douglas Elliman of NJ LLC
Listed By:
Andre DiStefano
(833) 740-1234
Source:
Actionplusrealty
Added: Aug 1
Changed: Aug 22
Last Checked: Aug 22 at 9:16AM
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 Douglas Elliman of NJ LLC
Investment Insights
Based on property information with market context.
This legal two-family duplex at 949 Round Avenue includes two separately configured residences, each with its own kitchen, living space, and private entrance. The first-floor unit has 1 bedroom and 1 full bath, while the second-floor residence offers 2 bedrooms and 1 full bath. The property also includes off-street parking and an attached garage.
Both units are currently rented, providing an existing income stream. Built in 1960, the property offers a two-unit residential configuration suitable for an owner-occupant or an investor seeking a multifamily asset.
Both units are currently rented, providing an existing income stream. Built in 1960, the property offers a two-unit residential configuration suitable for an owner-occupant or an investor seeking a multifamily asset.
Key Highlights
- Legal two‑family duplex at 949 Round Avenue
- First‑floor unit with 1 bedroom and 1 full bath
- Second‑floor unit with 2 bedrooms and 1 full bath
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
$17,958
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
3.91%
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%
$359,160
$359.2K
Cap Rate 7%
$256,543
$256.5K
Cap Rate 9%
$199,533
$199.5K
Market Conditions
NOI Build-Up for 1,073 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
$27.4K $25.56/SF
− Vacancy
−$1.8K −$1.65/SF
EGI
$25.7K $23.91/SF
− OpEx
−$7.7K −$7.17/SF
NOI
$18.0K $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%
$359,160
Cap Rate 7%
$256,543
Cap Rate 9%
$199,533
Alternative Uses
Best Use
Multifamily LT 5
$256.5K
$224.5K – $299.3K
NOI $17,958 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$235.7K
$206.3K – $275.0K
NOI $16,501 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$280.2K
$245.2K – $326.9K
NOI $19,613 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 08723, NJ
31,272
Population
14,075
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
12.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$103,953
Median Household Income
$54,165
Median Earnings
$1,652
Median Rent
$374,400
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 - Legal two-family property with separate entrances, kitchens, living areas, off-street parking, and an attached garage.
Where is this duplex located?
The property is located at 949 Round Avenue Brick, NJ.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Legal two‑family duplex at 949 Round Avenue; First‑floor unit with 1 bedroom and 1 full bath; Second‑floor unit with 2 bedrooms and 1 full bath
