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    Two-Family Residential Income Property Title is generated by Realmo AI

    309 Washington Street, Perth Amboy, NJ 08861

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    For Sale
    $659,000

    MULTI_FAMILY - Perth Amboy, NJ

    Property size:
    1,922 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $342/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 309 Washington Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-25
    Bathrooms
    2
    Rooms
    Bathroom 2, Basement, Bathroom 1
    Parking features
    Garage
    Interior features
    Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath, Living Room)
    Appliances
    Water Heater(See Remarks), Water Heater
    Standard status
    Active
    APN
    160016600000002201
    Size
    1,922 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8100

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1914
    Floors in Building
    2
    Building materials
    Vinyl Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Nadeem Qavi

    Listing agent Nadeem Qavi License #1109799

    Listing office RE/MAX COMPETITIVE EDGE 251 MAIN STREET, Warren, NJ

    Listing date Jun 4, 2026

    MLS# 2616969R Listing URL

    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.

    HighLights

    • Two‑family home built in 1914 with vinyl siding, asphalt shingle roof, and basement
    • Unit 1: 2 bedrooms, living room, and eat‑in kitchen; 1 bath
    • Unit 2: 3 bedrooms, living room, and eat‑in kitchen; 1 bath
    • Separate gas, electric, and water meters for the units
    • Parking includes a 2‑car detached garage plus parking for 4 cars (2 spots rented for $100)
    • Public water and public sewer; baseboard and hot water heating; cap rate listed as 8%

    Overview

    This two-family residential income property is set up for separate living units with independent gas, electric, and water meters. The first-floor apartment includes two bedrooms, a living room, and an eat-in kitchen. The second-floor apartment offers three bedrooms, a living room, and an eat-in kitchen, along with two additional bonus rooms located in the attic.

    On-site parking is available for up to four cars, and there is a detached two-car garage. The property is zoned R-25, supporting its multifamily residential use. Public remarks also note that the Perth Amboy Train Station is about a 12-minute stroll away and provides direct service to NYC.

    From an ownership standpoint, the separate utility metering can simplify tenant billing, since tenants are responsible for utilities. The overall layout provides multiple bedroom configurations across the two floors, which may support flexibility for prospective tenants looking for either a smaller or larger unit. The detached garage and multi-vehicle parking further enhance day-to-day usability for residents.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Perth Amboy
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2738472
    Latitude
    40.5157208

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    FAQs

    What type of property is this?
    Duplex - Two separate apartments with independent utility meters, plus detached garage and parking for multiple vehicles.
    Where is this duplex located?
    The property is located at 309 Washington Street Perth Amboy, NJ.
    What is the asking price?
    The asking price for this property is $659,000.
    What are key features of this property?
    This property features: Two‑family home built in 1914 with vinyl siding, asphalt shingle roof, and basement; Unit 1: 2 bedrooms, living room, and eat‑in kitchen; 1 bath; Unit 2: 3 bedrooms, living room, and eat‑in kitchen; 1 bath
    (908) 791-1010
    We can help!
    Listing Contact
    Nadeem Qavi
    Real Estate License ID: 1109799
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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