3-Unit Residential Income
For Sale
$999,999
361 Prospect St, Perth Amboy, NJ 08861
Three-unit residential property with detached garages, basement storage, and separate utility responsibility for occupants.
Property Size2,868 SF
Days on Market48
Property Features for 361 Prospect St
General Information
Standard status
Active
Size
2,868 SF
Total Parking Spaces
3
Property subtype
Investment
Net Operating Income
$86,568
Units
Unit Mix
2 x 2BR, 1 x 4BR
Multifamily Units
3
Additional Details
Cap Rate
8.6%
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,973
Amenities
shared driveway
basement/storage space
Building Details
Building Size
2,868 SF
Year Built
1903
Stories
2
Listed By:
ZACHARY DURSO
(732) 710-1400
Source:
Elliman
Added: Sep 18
Changed: Nov 2
Last Checked: Nov 4 at 2:04PM
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 ZACHARY DURSO
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Investment Insights
Based on property information with market context.
Built in 1903, this three-unit residential income property includes two two-bedroom apartments and one four-bedroom apartment. The building also provides basement storage, public water and sewer, and a shared driveway. Three detached garages offer an additional component that may be rented separately.
The property is located at 361 Prospect St in Perth Amboy, with access to local shopping, schools, transportation, major roadways, and the Perth Amboy waterfront. Tenants are responsible for their own utilities. Reported investment metrics include an 8.6% cap rate, while the seller has indicated that financial information should be independently verified.
The property is located at 361 Prospect St in Perth Amboy, with access to local shopping, schools, transportation, major roadways, and the Perth Amboy waterfront. Tenants are responsible for their own utilities. Reported investment metrics include an 8.6% cap rate, while the seller has indicated that financial information should be independently verified.
Key Highlights
- Three residential units: two 2‑bedroom apartments and one 4‑bedroom apartment
- 8.6% CAP RATE reported by the seller
- Three detached garages that can be rented separately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,999
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$959,980
$960.0K
Cap Rate 7%
$685,700
$685.7K
Cap Rate 9%
$533,322
$533.3K
Market Conditions
NOI Build-Up for 2,868 SF
Gross rent
$73.3K $25.56/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$68.6K $23.91/SF
− OpEx
−$20.6K −$7.17/SF
NOI
$48.0K $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%
$959,980
Cap Rate 7%
$685,700
Cap Rate 9%
$533,322
Alternative Uses
Best Use
Multifamily LT 5
$685.7K
$600.0K – $800.0K
NOI $47,999 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$630.1K
$551.3K – $735.1K
NOI $44,104 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$748.9K
$655.3K – $873.7K
NOI $52,422 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with detached garages, basement storage, and separate utility responsibility for occupants.
Where is this triplex located?
The property is located at 361 Prospect St Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Three residential units: two 2‑bedroom apartments and one 4‑bedroom apartment; 8.6% CAP RATE reported by the seller; Three detached garages that can be rented separately
