4-Unit Residential
New
For Sale
$950,000
131-133 Patterson Street, Perth Amboy, NJ 08861
Residential Income, Perth Amboy, NJ
Property Size2,552 SF
Lot Size0.21 Acres
Price / SF$372.26
Days on Market3
Property Features for 131-133 Patterson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R25
Zoning description
Conform to Zoning
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Basement, Bathroom 3, Bathroom 1
Parking features
Covered, Garage
Interior features
Unit 1(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath), Unit 3(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 4(3 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Private Entrance
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven), Unit 2(Range/Oven), Unit 3(Range/Oven), Unit 4(Range/Oven)
Lot features
Irregular Lot
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
State Street right onto Patterson Street
Standard status
Active
APN
1600021000000031
Size
2,552 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11190
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1909
Floors in Building
2
Flooring type
Carpet
Building materials
Block
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
Enrique Hernandez
(732) 442-1400
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 1:06AM
MLS# 2703109R
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 four-unit residential property contains 2,552 square feet on a 0.2101-acre parcel. Each unit is configured with three bedrooms and a kitchen, while three units also include a living room. The property has four bathrooms, private entrances, gas water heating, baseboard heat, carpeted floors, and block construction. Covered parking and garage space are provided.
Built in 1909, the property is served by public water and public sewer. It is located in Perth Amboy near shopping, restaurants, schools, public transportation, and major roadways. The property is zoned R25 and is being offered strictly in as-is condition, with the buyer responsible for repairs and C od O requirements.
Built in 1909, the property is served by public water and public sewer. It is located in Perth Amboy near shopping, restaurants, schools, public transportation, and major roadways. The property is zoned R25 and is being offered strictly in as-is condition, with the buyer responsible for repairs and C od O requirements.
Key Highlights
- Four residential units, each with 3 bedrooms
- 2,552 square feet on a 0.2101‑acre parcel
- R25 zoning with public water and public sewer
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
$42,711
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
4.50%
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%
$854,220
$854.2K
Cap Rate 7%
$610,157
$610.2K
Cap Rate 9%
$474,567
$474.6K
Market Conditions
NOI Build-Up for 2,552 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
$65.2K $25.56/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$61.0K $23.91/SF
− OpEx
−$18.3K −$7.17/SF
NOI
$42.7K $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%
$854,220
Cap Rate 7%
$610,157
Cap Rate 9%
$474,567
Alternative Uses
Best Use
Multifamily LT 5
$610.2K
$533.9K – $711.9K
NOI $42,711 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$560.6K
$490.6K – $654.1K
NOI $39,245 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$666.4K
$583.1K – $777.4K
NOI $46,646 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,429
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R25-zoned multifamily property with separate entrances, covered parking, and garage space.
Where is this quadplex located?
The property is located at 131-133 Patterson Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four residential units, each with 3 bedrooms; 2,552 square feet on a 0.2101‑acre parcel; R25 zoning with public water and public sewer
