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 Market68
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.
Listed By:
FRANCES LITEPLO · License #8339492
(908) 208-6241
Source:
Thebansalteam
Added: Aug 7
Changed: Oct 4
Last Checked: Oct 7 at 3:09PM
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 / Yr
$20,083
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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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
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 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
