Two-Unit Duplex with Detached
New
For Sale
$625,000
393 Prospect Street, South Amboy, NJ 08879
Multi-Family, South Amboy City, NJ
Property Size2,091 SF
Lot Size0.18 Acres
Price / SF$298.90
Days on Market1
Property Features for 393 Prospect Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Basement, Bedroom 1
Parking
6
Parking features
Oversize, Garage
Interior features
Attic - Walk Up, Balcony
Basement
Partial
Lot features
Fenced Area, Level, Treed Lots
Elementary school
South Amboy
Middle school
South Amboy
High school
South Amboy High School
Directions
CR-615 Bordentown, turn on Division St. left on Hillcrest, left on Prospect. Prospect St. is one way.
Standard status
Active
APN
20-00005-0000-00005
Size
2,091 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9490
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
covered front porch
fenced yard
extra-wide side yard
balcony
storage room
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
NextHome Realty Premier Properties
(732) 252-6800
Listed By:
Cynthia Guariglia
(732) 252-6800
Added: Aug 21
Last Checked: Aug 21 at 7:06PM
MLS# 22626212
Copyright © 2026 More MLS. 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 legal duplex contains 2,091 square feet on a 0.18-acre property, with a three-bedroom, one-bath first-floor apartment and a one-bedroom, one-bath second-floor apartment. The upper unit includes a kitchen balcony, while a walk-up attic provides a carpeted storage room. Exterior features include a covered front porch, fenced yard, extra-wide side yard, and driveway parking for six vehicles. A detached 21' x 42' garage adds substantial enclosed space. Public water and public sewer serve the property.
Recent improvements include a furnace installed in 2025, first-floor bathroom updates completed in 2025, an approximately 2025 garage roof, a newer house and flat roof, vinyl windows, and a new driveway, curbs, and sidewalk scheduled for 2026. The property is located at 393 Prospect Street in South Amboy City, near downtown, NJ TRANSIT rail service to New York, NYC ferry service, major roadways, and the Raritan Bay waterfront.
Recent improvements include a furnace installed in 2025, first-floor bathroom updates completed in 2025, an approximately 2025 garage roof, a newer house and flat roof, vinyl windows, and a new driveway, curbs, and sidewalk scheduled for 2026. The property is located at 393 Prospect Street in South Amboy City, near downtown, NJ TRANSIT rail service to New York, NYC ferry service, major roadways, and the Raritan Bay waterfront.
Key Highlights
- Legal two‑family duplex with 3‑bedroom and 1‑bedroom apartments
- 2,091 square feet on a 0.18‑acre property
- Detached 21' x 42' garage
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 property with separate apartments, covered porch, fenced yard, and six-car driveway parking.
Where is this duplex located?
The property is located at 393 Prospect Street 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 duplex with 3‑bedroom and 1‑bedroom apartments; 2,091 square feet on a 0.18‑acre property; Detached 21' x 42' garage
