Updated Duplex With Central
For Sale
$525,000
331 Watson Avenue, Perth Amboy, NJ 08861
MULTI_FAMILY - Perth Amboy, NJ
Property Size1,200 SF
Lot Size0.04 Acres
Price / SF$437.50
Days on Market47
Property Features for 331 Watson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-25
Zoning description
Conform to Zoning
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Parking features
On Street
Window features
Blinds
Patio and Porch features
Porch
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath), Unit 2(3 Bedrooms, Kitchen, 1 Bath)
Exterior features
Curbs, Sidewalk, Fencing/Wall, Yard, Blinds, Porch
Fencing
Fenced
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Lot features
Near Shopping, Near Train, 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
Smith or Fayette to Watson
Standard status
Active
APN
1600115000000017
Size
1,200 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7039
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central AC
open porch
fenced yard
Building Details
Year built
1899
Floors in Building
2
Building materials
Brick
Roof type
Asphalt
Listing Agency:
RE/MAX FIRST REALTY, INC. · RE/MAX International
(732) 257-3500
Listed By:
Frances Liteplo · License #8339492
(732) 257-3500
Added: Jun 26
Changed: Aug 2
Last Checked: Aug 11 at 6:06AM
MLS# 2618261R
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 duplex offers two residences with unit interiors described as updated, each with a kitchen and one bath. The property includes central air cooling and forced-air heating, with brick construction and an asphalt roof. Tenant utility responsibility is supported by separate meters, and tenants are listed as paying all utilities including water, along with maintaining the ground and handling snow removal. The exterior amenities include a porch and a fenced yard.
Set on a 0.0413-acre lot, the home includes a basement and two bathrooms in the room list. Utilities are indicated as public, with public water and public sewer. Parking is described as on-street, and exterior features include fencing/wall and yard elements.
Built in 1899, the property includes gas and other water heaters, ranges/ovens and refrigerators for Unit 1 and Unit 2, and additional appliances listed for the units. The configuration supports a straightforward two-unit rental setup under the separate-meter arrangement.
Set on a 0.0413-acre lot, the home includes a basement and two bathrooms in the room list. Utilities are indicated as public, with public water and public sewer. Parking is described as on-street, and exterior features include fencing/wall and yard elements.
Built in 1899, the property includes gas and other water heaters, ranges/ovens and refrigerators for Unit 1 and Unit 2, and additional appliances listed for the units. The configuration supports a straightforward two-unit rental setup under the separate-meter arrangement.
Key Highlights
- Zoned R‑25 duplex on a 0.0413‑acre lot
- Central Air and forced‑air heating in both units
- Two separate meters with tenants paying all including water
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
$20,083
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
3.83%
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%
$401,660
$401.7K
Cap Rate 7%
$286,900
$286.9K
Cap Rate 9%
$223,144
$223.1K
Market Conditions
NOI Build-Up for 1,200 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
$30.7K $25.56/SF
− Vacancy
−$2.0K −$1.65/SF
EGI
$28.7K $23.91/SF
− OpEx
−$8.6K −$7.17/SF
NOI
$20.1K $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%
$401,660
Cap Rate 7%
$286,900
Cap Rate 9%
$223,144
Alternative Uses
Best Use
Multifamily LT 5
$286.9K
$251.0K – $334.7K
NOI $20,083 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$263.6K
$230.7K – $307.6K
NOI $18,454 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,618
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?
Duplex - Zoned R-25 duplex with two updated units, central air, and separate tenant metering for utilities including water.
Where is this duplex located?
The property is located at 331 Watson Avenue 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: Zoned R‑25 duplex on a 0.0413‑acre lot; Central Air and forced‑air heating in both units; Two separate meters with tenants paying all including water
