Duplex with Porch and
For Sale
Under Contract
$525,000
305 Meredith Street, Perth Amboy, NJ 08861
MULTI_FAMILY - Perth Amboy, NJ
Property Size1,440 SF
Lot Size0.06 Acres
Price / SF$364.58
Days on Market130
Property Features for 305 Meredith Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-50
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Parking features
Garage
Patio and Porch features
Porch
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(2 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Porch
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven)
Subdivision
John Arnold
Elementary school district
Perth Amboy City School Distri
Middle school district
Perth Amboy City School Distri
High school district
Perth Amboy City School Distri
Standard status
Active Under Contract
APN
1600334000000026
Size
1,440 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6821
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1929
Floors in Building
2
Building materials
Vinyl Siding
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
Jisel Perez
(732) 596-2118
Added: Apr 10
Changed: Aug 1
Last Checked: Aug 17 at 1:06AM
MLS# 2613751R
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.
Duplex in Perth Amboy built in 1929, set up as a two-family residence. The property includes Unit 1 and Unit 2, each with two bedrooms, a kitchen, a living room, and one bath. Exterior features include a porch, and parking is provided via a garage. Interior amenities include baseboard heat and window unit cooling.
The site is zoned R-50 and totals 0.0574 acres. Property utilities include public water and public sewer. The overall property size is 1,440 square feet.
Each unit is supported by separate kitchen and living spaces, with gas hot water via the water heater noted as “Water Heater(Gas)” along with other listed appliances such as range/oven and refrigerator for Unit 1, and range/oven for Unit 2. Rooms listed include bathrooms and a basement.
The site is zoned R-50 and totals 0.0574 acres. Property utilities include public water and public sewer. The overall property size is 1,440 square feet.
Each unit is supported by separate kitchen and living spaces, with gas hot water via the water heater noted as “Water Heater(Gas)” along with other listed appliances such as range/oven and refrigerator for Unit 1, and range/oven for Unit 2. Rooms listed include bathrooms and a basement.
Key Highlights
- R‑50 zoned two‑family duplex built in 1929
- Porch and garage parking
- 0.0574‑acre lot
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
$24,100
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
4.59%
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%
$482,000
$482.0K
Cap Rate 7%
$344,286
$344.3K
Cap Rate 9%
$267,778
$267.8K
Market Conditions
NOI Build-Up for 1,440 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
$36.8K $25.56/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$34.4K $23.91/SF
− OpEx
−$10.3K −$7.17/SF
NOI
$24.1K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$482,000
Cap Rate 7%
$344,286
Cap Rate 9%
$267,778
Alternative Uses
Best Use
Multifamily LT 5
$344.3K
$301.3K – $401.7K
NOI $24,100 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$316.3K
$276.8K – $369.1K
NOI $22,144 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,321 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,217
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-50 zoned two-family duplex built in 1929 with porches, garage parking, and public water and sewer.
Where is this duplex located?
The property is located at 305 Meredith Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: R‑50 zoned two‑family duplex built in 1929; Porch and garage parking; 0.0574‑acre lot
