Updated Two-Unit
331 Watson Avenue, Perth Amboy, NJ 08861
For Sale
$525,000
Residential Income, Perth Amboy, NJ
Property Size1,200 SF
Lot Size0.04 Acres
Price / SF$437.50
Days on Market140
Property Features for 331 Watson Avenue
General Information
Property type
Property subtype
Zoning
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Patio and Porch features
Interior features
Exterior features
Fencing
Appliances
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
central AC
open porch
fenced yard
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
RE/MAX FIRST REALTY, INC. · RE/MAX International
(732) 257-3500
Listed By:
Frances Liteplo · License NJ #8339492
(908) 208-6241
Added: Jun 26
Changed: Oct 25
Last Checked: Nov 12 at 8:06AM
MLS# 2618261R
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.
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Investment Insights
Based on property information with market context.
This 1200-square-foot brick duplex contains two apartments with separate kitchens and one bathroom per unit. Unit 1 offers 2 bedrooms, while Unit 2 provides 3 bedrooms. Both apartments have been updated and include central air, range/oven, and refrigerator. The property also features a porch, fenced yard, asphalt roof, forced-air heating, and a basement.
Located at 331 Watson Avenue in Perth Amboy, the property has sidewalk and curb improvements, public water, and public sewer. Each apartment is separately metered, and tenants pay all utilities, including water. Tenants are also responsible for ground maintenance and snow removal. On-street parking is available, and the property is zoned R-25.
Located at 331 Watson Avenue in Perth Amboy, the property has sidewalk and curb improvements, public water, and public sewer. Each apartment is separately metered, and tenants pay all utilities, including water. Tenants are also responsible for ground maintenance and snow removal. On-street parking is available, and the property is zoned R-25.
Key Highlights
- Two‑unit duplex with 1200 square feet of property size
- Unit 1 includes 2 bedrooms, kitchen, and 1 bath
- Unit 2 includes 3 bedrooms, kitchen, and 1 bath
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.
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Lease Details
2
Residential units
Yes
Utilities to site
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
$340,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Perth Amboy, NJ
Properties on Market for Duplexes in Perth Amboy
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Brick residential income property with separate meters, central air, porches, and a fenced yard.
Where is this duplex located?
The property is located at 331 Watson Avenue 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‑unit duplex with 1200 square feet of property size; Unit 1 includes 2 bedrooms, kitchen, and 1 bath; Unit 2 includes 3 bedrooms, kitchen, and 1 bath
