Individually Owned Property summary
AI-generated overview
The property is a duplex completed in 2025, set on an oversized 40 x 100 lot. It comprises two residential units, each with four bedrooms and 2.5 bathrooms, designed with a layout intended for modern living. The second floor includes a spacious interior area with a private north-side entry and an additional entry through the garage, featuring cathedral ceilings with skylights and an open-concept living area. The first floor includes an exclusive front porch with a private entry. Each unit includes a kitchen with Thermidor stainless steel appliances, custom cabinetry, and a large island, along with light hardwood flooring throughout, a built-in wet bar, rear and side decks, and a private outdoor shower, plus storage under the front porch and in the garage. Each unit also includes an Evolution Forester 4+ seater golf cart. The property is located within walking distance to the bay area and is one block from the Asbury shopping district.
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1916
Construction
FRAME
Total area
3,493 SF
Lot
0.09 ac (3,999 SF)
Zoning code
HD2
APN
08 00306-0000-00003
UPID
US59-0100316
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$900k
Owner & transaction history
since 2022
Last sale
$610,000
2 recorded transactions
Zoning & alternative use
HD2 · Ocean City, NJ
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$900k
Value range
$810k – $990k
±10% around blend
Estimated value / SF
$258 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$810k
blend $900k
$990k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,493 SF
Lot area
0.09 ac
Year built
1916
Stories
3
APN
08 00306-0000-00003
Zoning
HD2
Assessed value
$439,000
Annual tax
$4,517
3
Income approach: direct capitalization
Partial preview
Income approach indication
$795k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$860k
@ 6.5% CAP return
$795k
@ 7% CAP return
$740k
4
Sales comparison
Partial preview
Sales approach indication
$669k
Range $473k – $1.51M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$900k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 74 sales
$293
-12%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $258/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
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Overview
Implied cap rate
5.70%
Implied, in-place cap rate for this residential income homes
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.70%
9.0%
NOI (est.)
$43k *
Last sale · Sep 2022
$610k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$749k
Move the market yield to see immediate price impact.
Value / SF
$214
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.20%5.70%6.20%
$38k
$739k
$674k
$620k
$43k
$821k
$749k
$689k
$47k
$903k
$824k
$758k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$4,517
Tax year 2022
Assessed value
$439,000
Assessed 2023
Previous assessed
$439,000
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$285,300
Assessed improvement
$153,700
Land market value
$285,300
Improvement market value
$153,700
Total market value
$439,000
Applied tax rate
8.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1916
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Total area
3,493 SF
Lot
0.09 ac (3,999 SF)
Zoning code
HD2
APN
08 00306-0000-00003
UPID
US59-0100316
Jurisdiction
CAPE MAY
Zoning & alternative use
HD2 · Ocean City, NJZoning HD2 · permitted uses
HD2 · Ocean City, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1916
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
HD2
Jurisdiction
Ocean City, NJ
Recorded code
HD2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for HD2 in Ocean City, NJ.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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