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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Residential income homes
409 6th Ave Asbury Park, NJ 07712-5458
Entity Owned
4-yr Hold
Property ID
US59-1683376
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1910
Construction
FRAME
Total area
2,700 SF
Lot
0.17 ac (7,500 SF)
Zoning code
SSRA
APN
04 03602-0000-00015
UPID
US59-1683376
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
$1.20M
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$810k
Blend (final)
Blend
$1.22M
Owner & transaction history
Iconic Ap 6 LLC · 4 yrs held
Iconic Ap 6 LLC
since 2021
Last sale
$995,000
2 recorded transactions
Zoning & alternative use
SSRA · Asbury Park, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,220,000
ML approach
$1,195,000
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$695,000
7%
$645,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$715,000
Current use
COMMERCIAL (GENERAL)
$690,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$665,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±10% · vs last sale $995k (Aug 20 2021)
Last sale anchor
$995k
Aug 20 2021
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
$452 / 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
$10,592
Tax year 2022
Assessed value
$727,300
Assessed 2023
Previous assessed
$727,300
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$454,800
Assessed improvement
$272,500
Land market value
$454,800
Improvement market value
$272,500
Total market value
$727,300
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
1910
Construction
FRAME
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
2,700 SF
Lot
0.17 ac (7,500 SF)
Zoning code
SSRA
APN
04 03602-0000-00015
UPID
US59-1683376
Jurisdiction
MONMOUTH
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
SSRA · Asbury Park, NJZoning SSRA · permitted uses
SSRA · Asbury Park, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$690,000
OFFICE BUILDING
Est. value
$665,000
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
1910
Construction
FRAME
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Iconic Ap 6 LLC
Entity
Mailing address
418 BOND ST #3, ASBURY PARK, NJ 07712-6908
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2021
$995,000
Iconic Ap 6 LLC
Cherokee Realty Partners INC
Bargain And Sale Deed
$696,500 · Quaint Oak Bank
Aug 25, 2017
—
Cherokee Realty Partners INC
Housing Opportunity Programs I
Grant Deed
related
—
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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