Updated Duplex with Central
331 Watson Ave, Perth Amboy, NJ 08861
For Sale
$525,000
Multi-Family, 2-Two Story, Perth Amboy City, NJ
Property Size1,650 SF
Lot Size0.04 Acres
Price / SF$318.18
Days on Market140
Property Features for 331 Watson Ave
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Interior features
Exterior features
Directions
Standard status
Size
Lot size
Additional Details
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
Number of units
Roof type
Architectural style
Listing Agency:
RE/MAX FIRST REALTY · RE/MAX International
Listed By:
FRANCES LITEPLO · License NJ #8339492
(732) 257-3500
Added: Jun 26
Changed: Nov 6
Last Checked: Nov 12 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.
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Investment Insights
Based on property information with market context.
Built in 1899, this 1,650-square-foot duplex contains two updated apartments in a two-story configuration. Both units feature central air, while forced-air heating supports year-round comfort. The property also includes a basement, an open porch, and a fenced yard. Public water and public sewer serve the building, with shingle roofing and sidewalks along the property.
Separate meters are in place for the apartments. Tenants pay all utilities, including water, and are responsible for ground maintenance and snow removal. The property is located in Perth Amboy, with train service, bus transportation, and shopping identified nearby.
Separate meters are in place for the apartments. Tenants pay all utilities, including water, and are responsible for ground maintenance and snow removal. The property is located in Perth Amboy, with train service, bus transportation, and shopping identified nearby.
Key Highlights
- Two updated apartments in a 1,650‑square‑foot, two‑story duplex
- Central air conditioning and forced‑air heating in both apartments
- Separate meters; tenants pay all utilities, including water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,615
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,618
Businesses Nearby
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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 - Two-story duplex with separate metering, an open porch, and a fenced yard.
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 updated apartments in a 1,650‑square‑foot, two‑story duplex; Central air conditioning and forced‑air heating in both apartments; Separate meters; tenants pay all utilities, including water
