Mixed-Unit Multifamily
For Sale
$579,000
168 1st Street, Perth Amboy, NJ 08861
MULTI_FAMILY - Perth Amboy, NJ
Property Size1,878 SF
Lot Size0.09 Acres
Price / SF$308.31
Days on Market96
Property Features for 168 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Patio and Porch features
Porch
Interior features
Unit 1(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 2(1 Bedroom, 2 Bedrooms, 3 Bedrooms, 4 Bedrooms, 1 Bath, See Remarks)
Exterior features
Porch
Appliances
Water Heater(Gas), Water Heater
Lot features
Near Shopping, Near Train, Sloped, Near Public Transit
Elementary school district
Perth Amboy City School Distri
Middle school district
Perth Amboy City School Distri
High school district
Perth Amboy City School Distri
Directions
Patterson To 1st
Standard status
Active
APN
1600034000000050
Size
1,878 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6357
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Ceiling Fan(s), Window Unit(s)
Water source
Public
Amenities
large backyard
Building Details
Year built
1891
Floors in Building
2
Building materials
Vinyl Siding
Additional Structures
See Remarks
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
Yousuf Syed · License #455412
(866) 201-6210
Added: May 11
Changed: Aug 7
Last Checked: Aug 14 at 10:06PM
MLS# 2615593R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes a private 1-bedroom apartment with a living room, kitchen, and full bathroom, along with four additional private rooms that share common facilities. Both the apartment and the rooms are currently occupied. The property also features a large backyard and off-street parking for tenants and guests.
Located in Perth Amboy, NJ, the property is described as convenient to New York transportation, shopping, restaurants, and public transportation.
The existing layout is presented as offering flexibility, including potential for conversion into a duplex. The lot is described as a deep lot with four off-street parking spots.
Located in Perth Amboy, NJ, the property is described as convenient to New York transportation, shopping, restaurants, and public transportation.
The existing layout is presented as offering flexibility, including potential for conversion into a duplex. The lot is described as a deep lot with four off-street parking spots.
Key Highlights
- Multi‑family setup with a private 1‑bedroom apartment plus four additional private rooms with shared common facilities
- 1‑bedroom unit includes a living room, kitchen, and 1 full bath; additional rooms also have access to 1 bath
- Both the apartment and the additional rooms are currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,880
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$577,600
$577.6K
Cap Rate 7%
$412,571
$412.6K
Cap Rate 9%
$320,889
$320.9K
Market Conditions
NOI Build-Up for 1,878 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.3K $30.00/SF
− Vacancy
−$3.8K −$2.04/SF
EGI
$52.5K $27.96/SF
− OpEx
−$23.6K −$12.58/SF
NOI
$28.9K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$577,600
Cap Rate 7%
$412,571
Cap Rate 9%
$320,889
Alternative Uses
Best Use
Apartment 5plus
$412.6K
$361.0K – $481.3K
NOI $28,880 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.4K
$429.1K – $572.1K
NOI $34,327 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property offers an occupied 1-bedroom apartment plus four occupied private rooms with shared common facilities.
Where is this apartment building located?
The property is located at 168 1st Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Multi‑family setup with a private 1‑bedroom apartment plus four additional private rooms with shared common facilities; 1‑bedroom unit includes a living room, kitchen, and 1 full bath; additional rooms also have access to 1 bath; Both the apartment and the additional rooms are currently occupied
