Updated Two-Unit
For Sale
$525,000
331 Watson Avenue, Perth Amboy, NJ 08861
Residential Income, Perth Amboy, NJ
Property Size1,200 SF
Lot Size0.04 Acres
Price / SF$437.50
Days on Market94
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
(908) 208-6241
Added: Jun 26
Changed: Sep 26
Last Checked: Sep 27 at 5:06PM
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 1200-square-foot brick duplex contains two apartments with separate kitchens and one bathroom per unit. Unit 1 offers 2 bedrooms, while Unit 2 provides 3 bedrooms. Both apartments have been updated and include central air, range/oven, and refrigerator. The property also features a porch, fenced yard, asphalt roof, forced-air heating, and a basement.
Located at 331 Watson Avenue in Perth Amboy, the property has sidewalk and curb improvements, public water, and public sewer. Each apartment is separately metered, and tenants pay all utilities, including water. Tenants are also responsible for ground maintenance and snow removal. On-street parking is available, and the property is zoned R-25.
Located at 331 Watson Avenue in Perth Amboy, the property has sidewalk and curb improvements, public water, and public sewer. Each apartment is separately metered, and tenants pay all utilities, including water. Tenants are also responsible for ground maintenance and snow removal. On-street parking is available, and the property is zoned R-25.
Key Highlights
- Two‑unit duplex with 1200 square feet of property size
- Unit 1 includes 2 bedrooms, kitchen, and 1 bath
- Unit 2 includes 3 bedrooms, kitchen, and 1 bath
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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick residential income property with separate meters, central air, porches, and a fenced yard.
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: Two‑unit duplex with 1200 square feet of property size; Unit 1 includes 2 bedrooms, kitchen, and 1 bath; Unit 2 includes 3 bedrooms, kitchen, and 1 bath
