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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Residential income homes
406 6th Ave Asbury Park, NJ 07712-5473
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-0588658
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1925
Total area
3,977 SF
Lot
0.26 ac (11,250 SF)
Zoning code
R1
APN
04 03605-0000-00002
UPID
US59-0588658
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.40M
CAP Approach
CAP
$1.03M
Comparable Approach
Comparable
$913k
Blend (final)
Blend
$1.40M
Owner & transaction history
Allstate Property Holdings LLC · 2 yrs held
Allstate Property Holdings LLC
since 2024
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
R1 · Asbury Park, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
(R1) - Single Family Residential Zone. [2000 Code § 30-70.3; amended 6-9-2021 by Ord. No. 2021-21 ; 3-27-2024 by Ord. No. 2024-6 ] a. Permitted Principal Uses. 1. Detached single family. 2. Essential municipal services facilities. b. Permitted Accessory Uses. 1. Garages. 2. Personal recreational facilities such as swimming pools, basketball hoops, etc., subj…
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
387.13 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Asbury Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Asbury Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,400,000
ML approach
$1,400,000
CAP Approach
CAP Return
Estimation
6%
$1,110,000
6.5%
$1,025,000
7%
$950,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,050,000
Current use
COMMERCIAL (GENERAL)
$1,015,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$980,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.40M (Jun 6 2024)
Last sale anchor
$1.40M
Jun 6 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$352 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$11,354
Tax year 2022
Assessed value
$738,000
Assessed 2023
Previous assessed
$738,000
+0.0% YoY
Effective rate
1.54%
On assessed value
Assessed land
$417,900
Assessed improvement
$320,100
Land market value
$417,900
Improvement market value
$320,100
Total market value
$738,000
Applied tax rate
4.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
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
1925
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
3,977 SF
Lot
0.26 ac (11,250 SF)
Zoning code
R1
APN
04 03605-0000-00002
UPID
US59-0588658
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
R1 · Asbury Park, NJZoning R1 · permitted uses
R1 · Asbury Park, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
(R1) - Single Family Residential Zone. [2000 Code § 30-70.3; amended 6-9-2021 by Ord. No. 2021-21 ; 3-27-2024 by Ord. No. 2024-6 ] a. Permitted Principal Uses. 1. Detached single family. 2. Essential municipal services facilities. b. Permitted Accessory Uses. 1. Garages. 2. Personal recreational facilities such as swimming pools, basketball hoops, etc., subject to the requirements of this chapter. 3. Driveways for the parking of personal vehicles, subject to the provisions of this chapter. 4. Any other structure which is clearly incidental to the principal residential use of the premises. 5. Minor home occupations. 6. Accessory dwelling units. c. Permitted Conditional Uses. Pursuant to § 30-76.3 of this chapter: 1. Major home occupations. 2. Houses of worship. d. Off-Street Parking Requirements. 1. Two parking spaces shall be provided for any newly constructed or converted single family dwelling. Requirement may be met through provision of an enclosed garage and driveway of at least 20 feet in length between the property line and garage.
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
387.13 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING
Est. value
$980,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Allstate Property Holdings LLC
Entity
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2024
$1,400,000
Allstate Property Holdings LLC
Molly Lane LLC
Deed
—
Mar 20, 2015
$534,950
Molly Lane LLC
Allstate Property Holdings LLC
Grant Deed
—
Feb 2, 2009
$425,000
Allstate Property Holdings LLC
4066 LLC
Grant Deed
related
—
—
—
4066 LLC
—
Deed Of Trust
related
$247,500 · Bank Of New York
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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