Duplex with Central
For Sale
$525,000
331 Watson Ave, Perth Amboy, NJ 08861
MULTI_FAMILY - Perth Amboy City, NJ
Property Size1,650 SF
Lot Size0.04 Acres
Price / SF$318.18
Days on Market47
Property Features for 331 Watson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Basement, Bedroom 1
Patio and Porch features
Porch
Interior features
Blinds, Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Exterior features
Curbs, Open Porch(es), Sidewalk
Directions
Smith St or Fayette to Watson
Standard status
Active
Size
1,650 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7414
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
open porch
fenced yard
central AC
Building Details
Year built
1899
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX FIRST REALTY · RE/MAX International
(732) 257-3500
Listed By:
FRANCES LITEPLO · License #8339492
(732) 257-3500
Added: Jun 26
Changed: Aug 2
Last Checked: Aug 11 at 8:06AM
MLS# 4037342
Copyright © 2026 Garden State MLS, LLC. 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 duplex includes two apartments that have been nicely updated. The home is heated with forced air and cooled with central AC. Exterior features include an open porch, a fenced yard, and sidewalks along the property.
The property sits on a 0.04-acre lot and was built in 1899. Utilities are supported by public water and public sewer, with a shingle roof. Tenants have separate meters and pay all utilities, including water; tenants are also responsible for maintaining the ground and handling snow removal.
Positioned close to train, bus line, and shopping, this property is configured for dual-tenant occupancy and offers straightforward separation through independent metering.
The property sits on a 0.04-acre lot and was built in 1899. Utilities are supported by public water and public sewer, with a shingle roof. Tenants have separate meters and pay all utilities, including water; tenants are also responsible for maintaining the ground and handling snow removal.
Positioned close to train, bus line, and shopping, this property is configured for dual-tenant occupancy and offers straightforward separation through independent metering.
Key Highlights
- Both apartments have been updated and include central AC
- Separate meters with tenants paying all utilities, including water
- 0.04‑acre lot
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
$27,615
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
5.26%
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%
$552,300
$552.3K
Cap Rate 7%
$394,500
$394.5K
Cap Rate 9%
$306,833
$306.8K
Market Conditions
NOI Build-Up for 1,650 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
$42.2K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$39.4K $23.91/SF
− OpEx
−$11.8K −$7.17/SF
NOI
$27.6K $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%
$552,300
Cap Rate 7%
$394,500
Cap Rate 9%
$306,833
Alternative Uses
Best Use
Multifamily LT 5
$394.5K
$345.2K – $460.3K
NOI $27,615 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$430.8K
$377.0K – $502.7K
NOI $30,159 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 - Both updated apartments feature central AC, with tenants using separate meters and paying utilities, including water.
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: Both apartments have been updated and include central AC; Separate meters with tenants paying all utilities, including water; 0.04‑acre lot
