2-Unit Duplex With 3-Car
For Sale
$699,999
Pending
55 Smith St, Perth Amboy, NJ 08861
Multi-Family, 2-Two Story, Perth Amboy City, NJ
Property Size2,302 SF
Lot Size0.04 Acres
Days on Market127
Property Features for 55 Smith St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Bathroom 3, Bathroom 5, Bedroom 1, Bedroom 5, Bedroom 4, Basement, Bathroom 1
Patio and Porch features
Patio
Interior features
Bar-Wet, Carpeting, Wood Floors
Exterior features
Patio
Subdivision
Near Waterfront
Lot features
Waterfront
Directions
From Perth Amboy Train Station take Smith St to 55 Smith (About 1/2 Mile)
Standard status
Pending
Size
2,302 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10274
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Water front
1
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
RE/MAX COMPETITIVE EDGE · RE/MAX International
(732) 548-5555
Listed By:
NADEEM QAVI · License #1109799
(908) 791-1010
Added: Apr 28
Changed: Aug 31
Last Checked: Sep 1 at 12:06AM
MLS# 4024535
Copyright © 2026 Garden State MLS, LLC. 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.
Built in 1980, this 2,302-square-foot duplex contains two residential units on a 0.04-acre lot. The first apartment includes living and dining rooms, two bedrooms, two bathrooms, and a balcony. The second offers living and dining rooms, two bedrooms, two bathrooms plus a half bath, balconies, a bonus room, and a large terrace. Both units include laundry hookups and central air. A three-car attached garage and a basement with two rooms add substantial utility. Interior finishes include wood flooring, carpeting, and a wet bar. Public water and public sewer serve the property.
The home is in Perth Amboy, near the waterfront. A bus stop is located across the street, while the train station is approximately a 10-minute walk away and provides direct service to New York City. Separate gas and electric meters serve the apartments. Management handles snow removal and landscaping, and the property includes a patio.
The home is in Perth Amboy, near the waterfront. A bus stop is located across the street, while the train station is approximately a 10-minute walk away and provides direct service to New York City. Separate gas and electric meters serve the apartments. Management handles snow removal and landscaping, and the property includes a patio.
Key Highlights
- 2,302‑square‑foot duplex on a 0.04‑acre lot
- Two apartments with separate gas and electric meters
- 3‑car attached garage plus a basement with 2 rooms
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
$38,527
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
5.50%
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%
$770,540
$770.5K
Cap Rate 7%
$550,386
$550.4K
Cap Rate 9%
$428,078
$428.1K
Market Conditions
NOI Build-Up for 2,302 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
$58.8K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$55.0K $23.91/SF
− OpEx
−$16.5K −$7.17/SF
NOI
$38.5K $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%
$770,540
Cap Rate 7%
$550,386
Cap Rate 9%
$428,078
Alternative Uses
Best Use
Multifamily LT 5
$550.4K
$481.6K – $642.1K
NOI $38,527 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$601.1K
$526.0K – $701.3K
NOI $42,077 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,857
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 - Two-story configuration with balconies, central air, laundry hookups, and separate gas and electric meters.
Where is this duplex located?
The property is located at 55 Smith St Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 2,302‑square‑foot duplex on a 0.04‑acre lot; Two apartments with separate gas and electric meters; 3‑car attached garage plus a basement with 2 rooms
