Two-Unit Duplex with Attached
For Sale
Under Contract
$699,999
55 Smith Street, Perth Amboy, NJ 08861
Residential Income, Perth Amboy, NJ
Property Size2,302 SF
Lot Size0.04 Acres
Price / SF$304.08
Days on Market127
Property Features for 55 Smith Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-MM
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 2, Bathroom 4, Den, Dining Room, Bathroom 1, Bathroom 3
Parking features
Garage
Patio and Porch features
Porch, Patio
Interior features
Unit 1(Dining Room, 2 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths), Unit 2(Dining Room, 2 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths, Den/Family Room)
Exterior features
Patio, Porch(es) - Open
Appliances
Water Heater(See Remarks), Water Heater
Subdivision
Bayside Villa
Lot features
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
From Perth Amboy Train Station take Smith St to 55 Smith (About 1/2 Mile)
Standard status
Active Under Contract
APN
1600055000000014
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
Amenities
Balcony
Central Air
Laundry Hook up
Terrace
Building Details
Year built
1980
Floors in Building
3
Building materials
Stucco
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 8:06AM
MLS# 2614758R
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 1980 duplex contains 2302 square feet across two residences on a 0.0407-acre lot. The first unit includes a living room, dining room, two bedrooms, two bathrooms, a kitchen, laundry hookup, and balcony. The second offers a living room, dining room, two bedrooms, two and a half bathrooms, kitchen, laundry hookup, multiple balconies, a den or family room, and a large terrace. Both units have central air, while the basement provides two additional rooms. A 3-car attached garage, open porch, and patio add functional and outdoor space. The property has stucco construction, forced-air heating, public water, public sewer, and separate gas and electric meters. It is zoned R-MM and located near the Perth Amboy Waterfront, with a bus stop across the street and a train station approximately 10 minutes away on foot. Direct trains to NYC are available from the station.
Key Highlights
- 3‑car attached garages serving the two‑unit property
- 2302 square feet on a 0.0407‑acre lot
- Unit 1 includes 2 bedrooms, 2 baths, balcony, and laundry hookup
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
Multi-tenant
Tenancy
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 residences offer separate gas and electric meters, central air, laundry hookups, and outdoor living areas.
Where is this duplex located?
The property is located at 55 Smith Street 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: 3‑car attached garages serving the two‑unit property; 2302 square feet on a 0.0407‑acre lot; Unit 1 includes 2 bedrooms, 2 baths, balcony, and laundry hookup
