Updated Duplex with Fenced
For Sale
$525,000
331 Watson Ave, Perth Amboy, NJ 08861
Two apartments offer central air, separate meters, and an open porch.
Property Size1,200 SF
Price / SF$437.50
Days on Market23
Property Features for 331 Watson Ave
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
central AC
open porch
fenced yard
Building Details
Year Built
1899
Listing Agency:
RE/MAX FIRST REALTY, INC.
(908) 208-6241
Listed By:
FRANCES LITEPLO · License #8339492
Source:
Goldstandardrealty
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 25 at 4:44AM
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 RE/MAX FIRST REALTY, INC.
Investment Insights
Based on property information with market context.
This duplex contains two apartments within a 1,650-square-foot property built in 1899. Both units have been updated and include central AC. An open porch and fenced yard provide additional outdoor features.
Each apartment has its own meter, while tenants pay all utilities, including water. Residents are also responsible for maintaining the grounds and removing snow. The property is near train service, a bus line, and shopping.
Each apartment has its own meter, while tenants pay all utilities, including water. Residents are also responsible for maintaining the grounds and removing snow. The property is near train service, a bus line, and shopping.
Key Highlights
- Two‑apartment duplex with 1,650 square feet
- Both apartments updated with central AC
- Separate meters for each apartment
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
$20,083
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
3.83%
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%
$401,660
$401.7K
Cap Rate 7%
$286,900
$286.9K
Cap Rate 9%
$223,144
$223.1K
Market Conditions
NOI Build-Up for 1,200 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
$30.7K $25.56/SF
− Vacancy
−$2.0K −$1.65/SF
EGI
$28.7K $23.91/SF
− OpEx
−$8.6K −$7.17/SF
NOI
$20.1K $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%
$401,660
Cap Rate 7%
$286,900
Cap Rate 9%
$223,144
Alternative Uses
Best Use
Multifamily LT 5
$286.9K
$251.0K – $334.7K
NOI $20,083 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$263.6K
$230.7K – $307.6K
NOI $18,454 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,618
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer central air, separate meters, and an open porch.
Where is this duplex located?
The property is located at 331 Watson Ave Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑apartment duplex with 1,650 square feet; Both apartments updated with central AC; Separate meters for each apartment
