Multifamily Property with Rental
For Sale
$579,000
168 1st Street, Perth Amboy, NJ 08861
Residential Income, Perth Amboy, NJ
Property Size1,878 SF
Lot Size0.09 Acres
Price / SF$308.31
Days on Market145
Property Features for 168 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Patio and Porch features
Porch
Interior features
Unit 1(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 2(1 Bedroom, 2 Bedrooms, 3 Bedrooms, 4 Bedrooms, 1 Bath, See Remarks)
Exterior features
Porch
Appliances
Water Heater(Gas), Water Heater
Lot features
Near Shopping, Near Train, Sloped, 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
Patterson To 1st
Standard status
Active
APN
1600034000000050
Size
1,878 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6357
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1891
Floors in Building
2
Building materials
Vinyl Siding
Additional Structures
See Remarks
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
Yousuf Syed · License #455412
(732) 754-2541
Added: May 11
Changed: Sep 14
Last Checked: Oct 2 at 7:06PM
MLS# 2615593R
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 1,878-square-foot multifamily property combines a one-bedroom apartment with four additional private rooms served by shared common facilities. The apartment includes a living room, kitchen, and full bathroom. The property also has a basement, porch, gas water heating, baseboard heat, ceiling fans, window-unit cooling, vinyl siding, and public water and sewer service. Both the apartment and the private rooms are occupied.
Situated at 168 1st Street in Perth Amboy, New Jersey, the property occupies a 0.0861-acre lot and includes a large backyard with four parking spaces. Built in 1891, the home offers a distinct residential income configuration with separate apartment and room accommodations.
Situated at 168 1st Street in Perth Amboy, New Jersey, the property occupies a 0.0861-acre lot and includes a large backyard with four parking spaces. Built in 1891, the home offers a distinct residential income configuration with separate apartment and room accommodations.
Key Highlights
- 1,878 square feet on a 0.0861‑acre lot
- One‑bedroom apartment with living room, kitchen, and full bathroom
- Four additional private rooms with shared common facilities
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
$28,880
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
4.99%
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%
$577,600
$577.6K
Cap Rate 7%
$412,571
$412.6K
Cap Rate 9%
$320,889
$320.9K
Market Conditions
NOI Build-Up for 1,878 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
$56.3K $30.00/SF
− Vacancy
−$3.8K −$2.04/SF
EGI
$52.5K $27.96/SF
− OpEx
−$23.6K −$12.58/SF
NOI
$28.9K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$577,600
Cap Rate 7%
$412,571
Cap Rate 9%
$320,889
Alternative Uses
Best Use
Apartment 5plus
$412.6K
$361.0K – $481.3K
NOI $28,880 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.4K
$429.1K – $572.1K
NOI $34,327 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,885
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?
Multifamily property - Mixed residential layout combines a private apartment with additional tenant rooms, shared facilities, outdoor space, and off-street parking.
Where is this multifamily property located?
The property is located at 168 1st Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 1,878 square feet on a 0.0861‑acre lot; One‑bedroom apartment with living room, kitchen, and full bathroom; Four additional private rooms with shared common facilities
