Two-Family Residential Income
640 Florida Grove Rd Perth Amboy, NJ 08861
New
For Sale
$699,999
MULTI_FAMILY - Perth Amboy City, NJ
Property Size2,146 SF
Lot Size0.12 Acres
Price / SF$326.19
Days on Market5
Property Features for 640 Florida Grove Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Basement
- Parking
- 2
- Standard status
- Active
- Size
- 2,146 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9009
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Radiant
- Water source
- Public
Building Details
- Year built
- 1949
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency:
REAL
(855) 450-0442
Listed By:
JULIANA HOYOS-SUESCUN
Added: Jul 21
Changed: Jul 25
Last Checked: Jul 25 at 11:06AM
MLS# 4042060
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.
640 Florida Grove Rd is a well-maintained two-family residence featuring two separate units, each with two bedrooms and one full bathroom. The property includes a finished basement with a private entrance, adding additional flexible space.
Outdoor areas are supported by a driveway and backyard with newer pavers installed in 2020, providing low-maintenance surfaces for parking and outdoor use.
Situated in Perth Amboy, the home is described as convenient to shopping, dining, schools, public transportation, and major highways including Routes 287, 440, 35, 1 and 9, and the New Jersey Turnpike.
Outdoor areas are supported by a driveway and backyard with newer pavers installed in 2020, providing low-maintenance surfaces for parking and outdoor use.
Situated in Perth Amboy, the home is described as convenient to shopping, dining, schools, public transportation, and major highways including Routes 287, 440, 35, 1 and 9, and the New Jersey Turnpike.
Key Highlights
- Two‑family home built in 1949 with public water and public sewer
- Each unit has 2 bedrooms and 1 full bathroom
- Finished basement with a private entrance for added flexible space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.9k | $25.56 |
| − Vacancy | −$3.5k | −$1.65 |
| EGI | $51.3k | $23.91 |
| − OpEx | −$15.4k | −$7.17 |
| NOI | $35.9k | $16.74 |
2,146 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$513.1K
$449.0K – $598.6K
NOI $35,916 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $33,001 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$560.4K
$490.3K – $653.8K
NOI $39,225 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with two-bed, one-bath units and a finished basement with a private entrance.
Where is this duplex located?
The property is located at 640 Florida Grove Rd 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: Two‑family home built in 1949 with public water and public sewer; Each unit has 2 bedrooms and 1 full bathroom; Finished basement with a private entrance for added flexible space
