Two-Unit Duplex with Separate
For Sale
$630,000
423 Augustine Pl, Perth Amboy, NJ 08861
Two-story residential income property with a vacant first-floor unit and an occupied upper-level residence.
Property Size1,772 SF
Price / SF$355.53
Days on Market87
Property Features for 423 Augustine Pl
General Information
Standard status
Active
Size
1,772 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,076
Listing Agency:
PETRA BEST REALTY, LLC
(732) 697-9111
Listed By:
ANTHONY HERNANDEZ
Source:
Exprealty
Added: May 22
Changed: Aug 16
Last Checked: Aug 16 at 4:15AM
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 PETRA BEST REALTY, LLC
Investment Insights
Based on property information with market context.
This 1,772 SF duplex contains two three-bedroom residences arranged on separate floors. Each unit has its own utilities, providing distinct service arrangements for the property. The upper-floor residence is currently leased, while the first-floor unit is vacant and available for occupancy or a new rental arrangement.
Located at 423 Augustine Pl in Perth Amboy, New Jersey, the property offers a two-unit configuration with one occupied residence and one available unit. The layout supports continued residential use with separate living spaces for each household.
Located at 423 Augustine Pl in Perth Amboy, New Jersey, the property offers a two-unit configuration with one occupied residence and one available unit. The layout supports continued residential use with separate living spaces for each household.
Key Highlights
- Two‑family duplex with 3‑bedroom units on each floor
- 1,772 SF property size
- Separate utilities for each unit
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
$29,657
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
4.71%
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%
$593,140
$593.1K
Cap Rate 7%
$423,671
$423.7K
Cap Rate 9%
$329,522
$329.5K
Market Conditions
NOI Build-Up for 1,772 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
$45.3K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$42.4K $23.91/SF
− OpEx
−$12.7K −$7.17/SF
NOI
$29.7K $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%
$593,140
Cap Rate 7%
$423,671
Cap Rate 9%
$329,522
Alternative Uses
Best Use
Multifamily LT 5
$423.7K
$370.7K – $494.3K
NOI $29,657 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$389.3K
$340.6K – $454.2K
NOI $27,250 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$462.7K
$404.9K – $539.8K
NOI $32,389 @ 7.0% cap · market cap 5.14%
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
2,187
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
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 - Two-story residential income property with a vacant first-floor unit and an occupied upper-level residence.
Where is this duplex located?
The property is located at 423 Augustine Pl Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Two‑family duplex with 3‑bedroom units on each floor; 1,772 SF property size; Separate utilities for each unit
