Duplex with Detached
For Sale
$625,000
393 Prospect St, South Amboy, NJ 08879
Legal two-family home with separate apartments, fenced outdoor space, and driveway parking.
Property Size2,091 SF
Price / SF$298.90
Days on Market10
Property Features for 393 Prospect St
General Information
Standard status
Active
Size
2,091 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
covered front porch
fenced yard
balcony
attic storage room
extra-wide side yard
Building Details
Year Built
1910
Listing Agency:
The Marketing Directors Inc
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Aug 25
Changed: Sep 2
Last Checked: Sep 2 at 4:41PM
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 The Marketing Directors Inc
Investment Insights
Based on property information with market context.
Located at 393 Prospect St in South Amboy, this legal two-family home includes two separate apartments. The first-floor unit has 3 bedrooms and 1 full bath, while the second-floor unit offers 1 bedroom, 1 full bath, and a kitchen balcony. An attic storage room adds usable space, and the property also includes vinyl windows, a covered front porch, a fenced yard, and an extra-wide side yard.
A detached 21' x 42' garage provides substantial additional space, while the driveway accommodates 6-7 cars. Recent work includes a furnace installed in 2025, first-floor bathroom updates completed in 2025, an approximately 2025 garage roof, and a new driveway, curbs, and sidewalk completed in 2026. The configuration supports owner occupancy, extended living arrangements, or continued use as a two-unit investment property.
A detached 21' x 42' garage provides substantial additional space, while the driveway accommodates 6-7 cars. Recent work includes a furnace installed in 2025, first-floor bathroom updates completed in 2025, an approximately 2025 garage roof, and a new driveway, curbs, and sidewalk completed in 2026. The configuration supports owner occupancy, extended living arrangements, or continued use as a two-unit investment property.
Key Highlights
- Legal two‑family home with 3‑bedroom and 1‑bedroom apartments
- Detached 21' x 42' garage
- Driveway parking for 6‑7 cars
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
$34,995
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
5.60%
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%
$699,900
$699.9K
Cap Rate 7%
$499,929
$499.9K
Cap Rate 9%
$388,833
$388.8K
Market Conditions
NOI Build-Up for 2,091 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
$53.4K $25.56/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.0K $23.91/SF
− OpEx
−$15.0K −$7.17/SF
NOI
$35.0K $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 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%
$699,900
Cap Rate 7%
$499,929
Cap Rate 9%
$388,833
Alternative Uses
Best Use
Multifamily LT 5
$499.9K
$437.4K – $583.3K
NOI $34,995 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$459.4K
$401.9K – $535.9K
NOI $32,155 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$546.0K
$477.8K – $637.0K
NOI $38,220 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
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
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 - Legal two-family home with separate apartments, fenced outdoor space, and driveway parking.
Where is this duplex located?
The property is located at 393 Prospect St South Amboy, NJ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Legal two‑family home with 3‑bedroom and 1‑bedroom apartments; Detached 21' x 42' garage; Driveway parking for 6‑7 cars
