Duplex with
For Sale
$1,260,000
98 Amsterdam Avenue, Lakewood, NJ 08701
SINGLE_FAMILY - Other - Lakewood, NJ
Property Size3,394 SF
Price / SF$371.24
Days on Market99
Property Features for 98 Amsterdam Avenue
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
8
Bathrooms
6
Full bathrooms
5
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 8, Bathroom 2, Bathroom 5, Basement, Bathroom 1, Bedroom 6, Bedroom 7, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 6
Patio and Porch features
Deck
Basement
Full, Finished
Elementary school
Adamsville
Middle school
Lakewood
Directions
Googlemaps
Standard status
Active
Size
3,394 SF
Taxes and HOA fees
HOA Fee
$100 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Zoned
Water source
Public
Building Details
Floors in Building
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Velocity Realty
(732) 288-3655
Listed By:
Toby Nagar
(732) 288-3655
Added: May 27
Changed: Aug 7
Last Checked: Sep 2 at 1:06AM
MLS# 22615692
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.
New duplex under construction at 98 Amsterdam Avenue in Lakewood, NJ, designed with modern living in mind. The property offers 3,394 square feet of space with a deck and a basement. Room count includes 8 bedrooms and 6 bathrooms, providing flexibility for a variety of residential living arrangements. The home is set up with zoned heating and zoned cooling, supporting more tailored comfort from space to space, and features a shingle roof.
The duplex is served by public water and public sewer. Additional outdoor living space is provided via the deck, and the property is currently listed in under-construction condition.
The duplex is served by public water and public sewer. Additional outdoor living space is provided via the deck, and the property is currently listed in under-construction condition.
Key Highlights
- Duplex under construction at 98 Amsterdam Avenue, Lakewood, NJ 08701
- 3,394 SF with 8 bedrooms and 6 bathrooms plus a basement
- Zoned heating and zoned cooling
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
$56,803
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
4.51%
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%
$1,136,060
$1.1M
Cap Rate 7%
$811,471
$811.5K
Cap Rate 9%
$631,144
$631.1K
Market Conditions
NOI Build-Up for 3,394 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
$86.8K $25.56/SF
− Vacancy
−$5.6K −$1.65/SF
EGI
$81.1K $23.91/SF
− OpEx
−$24.3K −$7.17/SF
NOI
$56.8K $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%
$1,136,060
Cap Rate 7%
$811,471
Cap Rate 9%
$631,144
Alternative Uses
Best Use
Multifamily LT 5
$811.5K
$710.0K – $946.7K
NOI $56,803 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$745.6K
$652.4K – $869.9K
NOI $52,193 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$886.2K
$775.5K – $1.03M
NOI $62,037 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 08701, NJ
135,256
Population
33,539
Households
4
Avg Household Size
20
Median Age
33%
College-Educated
91%
High-School Grad
24.7 sq mi
ZIP Area
5,476
Density / Sq Mi
$62,811
Median Household Income
$34,970
Median Earnings
$1,701
Median Rent
$430,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Under-construction duplex with zoned heating and cooling, public water and public sewer, and a deck.
Where is this duplex located?
The property is located at 98 Amsterdam Avenue Lakewood, NJ.
What is the asking price?
The asking price for this property is $1,260,000.
What are key features of this property?
This property features: Duplex under construction at 98 Amsterdam Avenue, Lakewood, NJ 08701; 3,394 SF with 8 bedrooms and 6 bathrooms plus a basement; Zoned heating and zoned cooling
