Two-Family Residence with Detached
309 Washington Street Perth Amboy, NJ 08861
New
309 Washington Street, Perth Amboy, NJ, 08861
$639,000
For Sale
$639,000
MULTI_FAMILY - Perth Amboy, NJ
Property Size1,922 SF
Lot Size0.09 Acres
Price / SF$332.47
Days on Market2
Property Features for 309 Washington Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-25
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Basement
- 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
- Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1914
- Floors in Building
- 2
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
Listing agency
RE/MAX COMPETITIVE EDGE
(732) 548-5555
Listed by
Nadeem Qavi · License #1109799
(908) 791-1010
Added: Jul 20 Checked: Jul 21 at 12:06PM
MLS# 2701129R
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 two-family residence offers two separate living spaces with distinct unit layouts. The first-floor apartment includes two bedrooms, a living room, and an eat-in kitchen. The second-floor apartment includes three bedrooms, a living room, and an eat-in kitchen, along with two bonus rooms located in the attic. Separate gas, electric, and water meters support independent utilities, with tenants paying all utilities. The property also includes a 2-car detached garage and additional off-street parking for up to four cars.
Located in Perth Amboy, NJ, the home is served by R-25 zoning. Public remarks note direct commuter access via the Perth Amboy Train Station to NYC, described as a short 12-minute stroll.
As presented, the garage and a portion of the parking are rented, and the first-floor rent is currently below market. Public remarks also cite a potential total rental income of $64,800 and an 8% cap rate.
Located in Perth Amboy, NJ, the home is served by R-25 zoning. Public remarks note direct commuter access via the Perth Amboy Train Station to NYC, described as a short 12-minute stroll.
As presented, the garage and a portion of the parking are rented, and the first-floor rent is currently below market. Public remarks also cite a potential total rental income of $64,800 and an 8% cap rate.
Key Highlights
- Two‑family property built in 1914 with separate unit layouts: Unit 1 has 2 bedrooms, living room, eat‑in kitchen, and 1 bath; Unit 2 has 3 bedrooms, living room, eat‑in kitchen, and 1 bath
- Separate gas, electric, and water meters for the units; all utilities are paid by tenants
- Detached 2‑car garage with parking for 4 cars; 2 garage spaces rented for $300 and 2 additional spots rented for $100
Local 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 | $49.1k | $25.56 |
| − Vacancy | −$3.2k | −$1.65 |
| EGI | $46.0k | $23.91 |
| − OpEx | −$13.8k | −$7.17 |
| NOI | $32.2k | $16.74 |
1,922 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$459.5K
$402.1K – $536.1K
NOI $32,167 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$422.2K
$369.5K – $492.6K
NOI $29,557 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$501.9K
$439.1K – $585.5K
NOI $35,131 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate apartments feature separate gas, electric, and water meters, with tenant-paid utilities and a 2-car detached garage.
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 $639,000.
What are key features of this property?
This property features: Two‑family property built in 1914 with separate unit layouts: Unit 1 has 2 bedrooms, living room, eat‑in kitchen, and 1 bath; Unit 2 has 3 bedrooms, living room, eat‑in kitchen, and 1 bath; Separate gas, electric, and water meters for the units; all utilities are paid by tenants; Detached 2‑car garage with parking for 4 cars; 2 garage spaces rented for $300 and 2 additional spots rented for $100
