28 Wyckoff Ave Unit and 28-1/2 · Manasquan, NJ 08736

$1,549,000

4 bd · 2.5 ba · 2,000 sqft · MultiFamily · 7 Days on market

Built 1932 Good condition 8,050 sqft lot Est $1426k · 9% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.7/30.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +4.6/10.0
• Condition / age +3.8/5.0
• ARV discount +3.6/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Charming 2BR/1BA bungalow + 2BR/1.5BA garage apartment - both legal rentals with current Certificates of Occupancy - in Manasquan's most coveted spot: between Downtown Manasquan and the Beach. .. .where you walk to restaurants, shops, the parks, the ocean, the marina, the lake, the schools, train station: everything you need for the ultimate small beach town lifestyle literally surrounds you. Frustrated with the 100' deep and 140' deep lot sizes? Here is a rare OVERSIZED 50' x 161' LOT SIZE! This 8,000+ property is in the R-2 zone which means it can accommodate a 6,000 sq. ft. new house if you desire to build a spacious dream home! Or design something smaller and have an even more incredibl

Key facts

• Walk to shops
• Walk to ocean
• Walk to restaurants

Tags

• OVERSIZED 50' X 161' LOT
• WALK TO RESTAURANTS
• WALK TO SHOPS
• WALK TO PARKS
• WALK TO OCEAN
• WALK TO MARINA

Property features AI

Exterior

• Parking: Attached or detached garage with 2 spaces
• Utilities: Public sewer
• Home design: Individual ownership
• Exterior features: No subdivision specified

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (total 2.5)
• Heating & cooling: Forced air heating; Central air conditioning; Other cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $1.55M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.55M).

Location & tenants

• Location reads 64/100 on livability (#397 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools A-; Watch: amenities D+, commute F, cost of living F.
• Manasquan School District (suburban): math 39% / reading 60% proficiency, ranked #129 of 472 in NJ (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: 70 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,840 units permitted in Monmouth County in 2024 (484 in 5+ unit buildings).
• At $16,556/mo this rent would consume 114% of the median local household income ($174k/yr) (locally 65% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $46k of value loss. Plan a longer hold.
• Monmouth County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,549,000

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $1,426,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Wyckoff Ave Unit and 28-1/2	0.00mi	4/2.5	2,000 (0%)	1mo	$1,610,000	$805	100
354 Euclid Ave Unit & 354-1/2	0.32mi	5/2.0 (+1)	2,000 (0%)	12mo	$1,425,857	$713	68
51-53 Main St	0.46mi	4/2.0	2,168 (+8%)	3mo	$999,999	$461	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-99,525
• Equity at exit: $230,961

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $109,083
• Equity at exit: $133,929

Cash invested: $433,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 08736

• Active inventory: 70
• Price-to-rent: 23.4×

Monthly cashflow live

• Estimated rent: $16,556 medium
• Mortgage (P&I): −$8,123
• Tax est. 1.5%: −$1,936 /mo · $23,235/yr
• Insurance: −$645
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,477
• Net cashflow: $2,374

Break-even live

Break-even rent $13,550

Max offer price $1,549,000

Occupancy floor 81%

Sensitivity live

Price	-10% $3,445	-5% $2,910	+0% $2,374	+5% $1,839	+10% $1,304
Rent	-10% $1,067	-5% $1,720	+0% $2,374	+5% $3,028	+10% $3,682
Rate	-1.0pp $3,155	-0.5pp $2,768	base $2,374	+0.5pp $1,973	+1.0pp $1,565

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$11,038
1× unit	2	1.5	$5,519
Total (3 units)			$16,556

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $387,250
• Closing costs: $46,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 E Main St Manasquan, NJ	3.0	2.5	2846	$3,000	$1.05	25d	1	0.21mi
94 Colby Ave Manasquan, NJ	3.0	2.0	2000	$25,000	$12.50	4d	1	0.23mi
67 N Farragut Ave Manasquan, NJ	3.0	2.0	1526	$16,000	$10.48	0d	1	0.24mi
15 S Jackson Ave Manasquan, NJ	4.0	2.5	2490	$6,500	$2.61	0d	1	0.35mi
32 N Potter Ave Manasquan, NJ	5.0	3.5	2782	$3,400	$1.22	25d	1	0.46mi
25 Ocean Ave Manasquan, NJ	4.0	3.0	2487	$5,000	$2.01	25d	1	0.52mi
57 Ocean Ave Manasquan, NJ	3.0	2.0	1528	$3,200	$2.09	25d	1	0.59mi
57 Ocean Ave Manasquan, NJ	3.0	2.0	1528	$2,700	$1.77	5d	1	0.59mi
108 Glimmer Glass Cir Manasquan, NJ	4.0	3.5	2207	$6,500	$2.95	0d	1	0.64mi
18 Meadow Ave Manasquan, NJ	4.0	3.0	2398	$6,500	$2.71	25d	1	0.65mi
208 Neptune Pl Sea Girt, NJ	4.0	3.5	2147	$16,000	$7.45	0d	1	0.66mi
409 Trenton Blvd Sea Girt, NJ	4.0	2.5	2089	$16,000	$7.66	0d	1	0.66mi
124 Neptune Pl Sea Girt, NJ	4.0	2.0	1901	$6,000	$3.16	25d	1	0.71mi
619 Woodland Ave Brielle, NJ	4.0	2.5	1932	$15,000	$7.76	5d	1	0.72mi
508 Crescent Pkwy Sea Girt, NJ	4.0	3.0	2828	$4,000	$1.41	0d	1	0.73mi
2 Captains Ct Manasquan, NJ	4.0	3.5	2386	$5,000	$2.10	25d	1	0.74mi
203 Stockton Blvd Sea Girt, NJ	4.0	2.5	2550	$7,000	$2.75	25d	1	0.76mi
208 Trenton Blvd Sea Girt, NJ	4.0	3.0	2860	$5,000	$1.75	25d	1	0.76mi
402 Morgan Pkwy Brielle, NJ	4.0	2.5	2767	$7,500	$2.71	0d	1	0.78mi
191 3rd Ave Unit 1 Manasquan, NJ	3.0	1.0	1472	$19,000	$12.91	25d	1	0.80mi
196 3rd Ave Manasquan, NJ	4.0	2.0	1944	$4,200	$2.16	25d	1	0.82mi
203 Washington Blvd Sea Girt, NJ	4.0	2.5	2380	$5,000	$2.10	25d	1	0.86mi
714 Philadelphia Blvd Sea Girt, NJ	4.0	2.0	1488	$2,995	$2.01	25d	1	0.87mi
608 Brielle Ave Brielle, NJ	4.0	2.5	2109	$5,000	$2.37	26d	1	0.87mi
229 1st Ave Manasquan, NJ	4.0	2.5	1786	$6,500	$3.64	25d	1	0.93mi
702 Baltimore Blvd Sea Girt, NJ	4.0	2.0	1764	$2,500	$1.42	25d	1	0.93mi
221 Beachfront #1 Manasquan, NJ	3.0	2.0	1757	$4,950	$2.82	25d	1	0.95mi
221 Beachfront #1 Manasquan, NJ	3.0	2.0	1757	$3,850	$2.19	0d	1	0.95mi
239 Beachfront #1 Manasquan, NJ	3.0	2.0	1856	$4,500	$2.42	25d	1	0.97mi
239 Beachfront #4 Manasquan, NJ	3.0	2.0	1727	$6,700	$3.88	3d	1	0.97mi
303 Bell Pl Sea Girt, NJ	3.0	3.0	1690	$3,400	$2.01	14d	1	1.06mi
623 Brooklyn Blvd Sea Girt, NJ	4.0	3.5	2096	$3,998	$1.91	25d	1	1.12mi
550 Whiting Ave Manasquan, NJ	4.0	3.5	2130	$8,500	$3.99	0d	1	1.13mi
550 Whiting Ave Manasquan, NJ	4.0	3.5	2130	$10,000	$4.69	19d	1	1.13mi
368 1st Ave Manasquan, NJ	3.0	3.0	1987	$5,000	$2.52	18d	1	1.19mi
407 Chicago Blvd Sea Girt, NJ	4.0	3.5	2624	$7,000	$2.67	0d	1	1.22mi
405 1st Ave Manasquan, NJ	3.0	2.0	1695	$4,850	$2.86	25d	1	1.24mi
5 New York Blvd Sea Girt, NJ	4.0	4.0	2834	$4,500	$1.59	8d	1	1.25mi
637 Beacon Blvd Sea Girt, NJ	4.0	2.5	1680	$3,795	$2.26	25d	1	1.28mi
202 2nd Ave Sea Girt, NJ	3.0	1.5	1640	$6,500	$3.96	25d	1	1.28mi

Listing history 2 events

1. 2026-04-16
   status Pending
2. 2026-04-09
   listed $1,549,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $198,672
• − Mortgage interest: −$86,768
• − Property taxes: −$23,235
• − Insurance: −$7,745
• − Repairs & maintenance: −$15,894
• − Management: −$15,894
• − Depreciation: −$45,062
• Taxable income: $4,075
• Est. tax owed @ 24.0%: −$978
• After-tax cash flow: $27,515/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming multi-family home in Manasquan's prime location offers a good condition with minimal repairs needed. Upgrades to kitchen and bathroom appliances and exterior paint can significantly enhance its value for both resale and rental.

Value-add opportunities

• Both update kitchen appliances — modern appliances enhance both resale and rental value
• Both update bathroom fixtures — functional but dated fixtures can be updated to appeal to a broader market
• Both paint exterior — fresh paint enhances curb appeal and can increase both resale and rental value
• Both landscaping — improved landscaping can increase curb appeal and attract more potential buyers/renters

Renovation cost estimate screening

Value-add ROI direction

• Both update kitchen appliances — modern appliances enhance both resale and rental value ↑
• Both update bathroom fixtures — functional but dated fixtures can be updated to appeal to a broader market ↑
• Both paint exterior — fresh paint enhances curb appeal and can increase both resale and rental value ↑
• Both landscaping — improved landscaping can increase curb appeal and attract more potential buyers/renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Manasquan School District
• NCES district ID: 3409420
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 60% ▼ -15.00%
• Median HH income: $87,868
• Composite: 45.91/100
• National rank: #2546
• State rank: #129 of 472 in NJ

Livability — Manasquan

• Score: 64/100
• State rank: #397
• US rank: #13817

Category grades

Amenities D+ Commute F Cost of living F Crime A+ Employment A+ Housing C+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manasquan, NJ
• County: Monmouth County · 505,557 people
• City population: 13,223
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 13,223
• Household income: $174,097
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 65.0

Population outlook (Monmouth County) Hauer SSP2

• Today (2025): 620,308 people
• By 2030: 612,309 · -1.3%
• By 2040: 587,297 · -5.3%
• By 2050: 551,342 · -11.1%
• By 2075: 472,934 · -23.8%
• By 2100: 381,534 · -38.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 9% Slovak 3% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Monmouth

• 2024 margin: R (+11.4) · D 43.4% · R 54.8% · Other 1.8%
• 2008→2024 swing: -7.7pp toward R · 2008: -3.7pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: R+2.8 2016: R+9.5 2012: R+5.5 2008: R+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -307.96%
• Current HPI: 371.0208
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

2 events — show timeline

• 2026-04-16 Pending — MOMLS
• 2026-04-09 Listed $1,549,000 MOMLS