Two-Unit Home with Private
For Sale
$459,000
358 Conover St, South Amboy, NJ 08879
Separate residences provide kitchens, living areas, bedrooms, and full bathrooms across the property.
Property Size1,784 SF
Price / SF$257.29
Days on Market54
Property Features for 358 Conover St
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1914
Buildings
1
Listing Agency:
C21 CHARLES SMITH AGENCY, INC
Listed By:
RYAN TOOKER
(732) 447-9333
Source:
Thebansalteam
Added: Aug 24
Changed: Oct 6
Last Checked: Oct 7 at 1:20PM
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 C21 CHARLES SMITH AGENCY, INC
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Investment Insights
Based on property information with market context.
Built in 1914, this 1,784-square-foot duplex contains two residential units with distinct layouts. The first-floor residence includes an eat-in kitchen with dining space, a living room, two bedrooms, and a full bathroom. Upstairs, the second unit offers one bedroom, a bonus room that may be configured as a second bedroom, an eat-in kitchen, living room, full bathroom, and a large closet. A private rear deck connects to the yard by stairs.
A spacious enclosed front porch, three-season rear room, pull-down attic stairs, and basement storage add usable areas throughout the home. The basement includes multiple sections, some with dirt floors, while the property also has a large shed needing repair and a grass driveway area reached by a driveway apron. The property is conveyed strictly AS-IS; the buyer is responsible for obtaining the Certificate of Occupancy and required municipal certifications.
The property is located in the Mechanicsville section of South Amboy, near shopping, dining, transportation, and major roadways.
A spacious enclosed front porch, three-season rear room, pull-down attic stairs, and basement storage add usable areas throughout the home. The basement includes multiple sections, some with dirt floors, while the property also has a large shed needing repair and a grass driveway area reached by a driveway apron. The property is conveyed strictly AS-IS; the buyer is responsible for obtaining the Certificate of Occupancy and required municipal certifications.
The property is located in the Mechanicsville section of South Amboy, near shopping, dining, transportation, and major roadways.
Key Highlights
- Two‑family duplex with 1,784 square feet and two separate residential units
- First‑floor unit includes two bedrooms and an eat‑in kitchen
- Second‑floor unit has one bedroom plus a bonus room that may be configured as a second bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,857
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,140
$597.1K
Cap Rate 7%
$426,529
$426.5K
Cap Rate 9%
$331,744
$331.7K
Market Conditions
NOI Build-Up for 1,784 SF
Gross rent
$45.6K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$42.7K $23.91/SF
− OpEx
−$12.8K −$7.17/SF
NOI
$29.9K $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%
$597,140
Cap Rate 7%
$426,529
Cap Rate 9%
$331,744
Alternative Uses
Best Use
Multifamily LT 5
$426.5K
$373.2K – $497.6K
NOI $29,857 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$391.9K
$342.9K – $457.2K
NOI $27,434 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$465.8K
$407.6K – $543.5K
NOI $32,609 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
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Business Placement
Demographics for 08879, NJ
22,965
Population
9,737
Households
2.4
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
3,235
Density / Sq Mi
$98,000
Median Household Income
$57,998
Median Earnings
$1,633
Median Rent
$377,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences provide kitchens, living areas, bedrooms, and full bathrooms across the property.
Where is this duplex located?
The property is located at 358 Conover St South Amboy, NJ.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑family duplex with 1,784 square feet and two separate residential units; First‑floor unit includes two bedrooms and an eat‑in kitchen; Second‑floor unit has one bedroom plus a bonus room that may be configured as a second bedroom
