Updated Two-Unit
For Sale
$574,999
676 Charles St, Perth Amboy, NJ 08861
Two separate residences with updated kitchens, comfortable living areas, and a private backyard for outdoor use.
Property Size2,200 SF
Days on Market15
Property Features for 676 Charles St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Investment
Additional Details
Gross Income
$58,020
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,711
Building Details
Building Size
2,200 SF
Year Built
1909
Buildings
1
Stories
3
Listed By:
DONDELL LEONARD
(908) 472-8416
Source:
Elliman
Added: Sep 18
Changed: Sep 22
Last Checked: Oct 1 at 12:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DONDELL LEONARD
Investment Insights
Based on property information with market context.
This two-unit duplex at 676 Charles Street contains 5 bedrooms and 2 full bathrooms arranged across separate residences. The property has received previous updates, including refreshed kitchens, and offers spacious living areas with natural light. A backyard provides additional outdoor space for gatherings or personal use.
Built in 1909, the home combines a traditional residential structure with a two-family layout. Walk Score is 59, Bike Score is 48, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some transit access.
Built in 1909, the home combines a traditional residential structure with a two-family layout. Walk Score is 59, Bike Score is 48, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some transit access.
Key Highlights
- Two separate residential units
- 5 bedrooms and 2 full bathrooms
- Updated kitchens and spacious living areas
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
$36,820
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
6.40%
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%
$736,400
$736.4K
Cap Rate 7%
$526,000
$526.0K
Cap Rate 9%
$409,111
$409.1K
Market Conditions
NOI Build-Up for 2,200 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
$56.2K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.6K $23.91/SF
− OpEx
−$15.8K −$7.17/SF
NOI
$36.8K $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%
$736,400
Cap Rate 7%
$526,000
Cap Rate 9%
$409,111
Alternative Uses
Best Use
Multifamily LT 5
$526.0K
$460.3K – $613.7K
NOI $36,820 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$483.3K
$422.9K – $563.9K
NOI $33,832 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$574.5K
$502.7K – $670.2K
NOI $40,212 @ 7.0% cap · market cap 6.99%
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
805
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 - Two separate residences with updated kitchens, comfortable living areas, and a private backyard for outdoor use.
Where is this duplex located?
The property is located at 676 Charles St Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $574,999.
What are key features of this property?
This property features: Two separate residential units; 5 bedrooms and 2 full bathrooms; Updated kitchens and spacious living areas
