Long Beach Island Duplexes | LBI Real Estate Duplexes | LBI NJ

Learn about Long Beach Island duplexes, LBI real estate duplexes and the LBI NJ area in general. Did you know that duplexes on Long Beach Island are subject to different lending standards? Or that they are under a different search in the MLS? Read on to learn more!

Duplexes in the Long Beach Island Real Estate Market

Duplexes and Multi-Family Homes in the LBI NJ Real Estate Market

Duplexes can offer an excellent return on their investment, and can often create a positive return with a minimal down payment. Most duplex properties were built during the 1960's and offer few variations in style. Due to their special zoning, this classification of property allows for new "side-by-side" townhomes to be built on the lot. This creates another exciting opportunity for investment or co-ownership.

It is important to have a clear understanding of the lending requirements for duplexes. Since banks view them as investments, many banks will require a minimum of 30% down and may require a non-conventional loan (usually an investment loan). Some banks will offer financing at 20% or 25%, but it is best to speak with a lender to understand the full lending picture. In general:

Due to their classification, multi-family lending is handled differently than normal residential transactions. Therefore, in most cases, a 25% down payment is needed, as they are considered "investment properties" rather than vacation properties.
Duplex or multi-family homes on Long Beach Island can legally be converted to condos, allowing them to be purchased by separate parties.
Rental rates vary, but you can expect between $1,500-$3,000/ week for each floor, depending on the property and the location!

Duplexes in the Long Beach Island Real Estate Market offer a unique opportunity to give a home buyer options! The property can be rented entirely for income, one floor can be used by the owner while the other is rented, or two families can purchase the duplex together and enjoy summer vacations!