Duplex with Three-Car Attached
For Sale
$699,999
55 Smith St, Perth Amboy, NJ 08861
Two residential units offer flexible layouts, private outdoor spaces, central air, and separate utility metering.
Property Size2,302 SF
Price / SF$304.08
Days on Market43
Property Features for 55 Smith St
General Information
Standard status
Active
Size
2,302 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/2.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
balcony
terrace
laundry hookup
central air
snow removal
landscaping
Building Details
Year Built
1980
Listing Agency:
RE/MAX COMPETITIVE EDGE
(908) 791-1010
Listed By:
NADEEM QAVI · License #1109799
Source:
Goldstandardrealty
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 7:03PM
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 RE/MAX COMPETITIVE EDGE
Investment Insights
Based on property information with market context.
Built in 1980, this 2,302-square-foot duplex includes two distinct residential apartments and a three-car attached garage. The first unit provides a living room, dining room, two bedrooms, two bathrooms, and a balcony. The second offers living and dining areas, two bedrooms, two-and-a-half bathrooms, balconies, a bonus room that may serve as an additional bedroom, and a large terrace. Both apartments include laundry hookups and central air conditioning. A basement with two rooms adds storage or flexible utility space, while separate gas and electric meters support independent operation.
The property is near the Perth Amboy waterfront, with a bus stop directly across the street and a train station approximately a 10-minute walk away. Train service provides direct connections to New York City. Management handles snow removal and landscaping, and the property includes maintenance-related services for those areas.
The property is near the Perth Amboy waterfront, with a bus stop directly across the street and a train station approximately a 10-minute walk away. Train service provides direct connections to New York City. Management handles snow removal and landscaping, and the property includes maintenance-related services for those areas.
Key Highlights
- 2,302‑square‑foot duplex built in 1980
- Three‑car attached garage
- First apartment has 2 bedrooms, 2 baths, and a balcony
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
$38,527
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
5.50%
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%
$770,540
$770.5K
Cap Rate 7%
$550,386
$550.4K
Cap Rate 9%
$428,078
$428.1K
Market Conditions
NOI Build-Up for 2,302 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
$58.8K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$55.0K $23.91/SF
− OpEx
−$16.5K −$7.17/SF
NOI
$38.5K $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%
$770,540
Cap Rate 7%
$550,386
Cap Rate 9%
$428,078
Alternative Uses
Best Use
Multifamily LT 5
$550.4K
$481.6K – $642.1K
NOI $38,527 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,400 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$601.1K
$526.0K – $701.3K
NOI $42,077 @ 7.0% cap · market cap 6.01%
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
1,857
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 residential units offer flexible layouts, private outdoor spaces, central air, and separate utility metering.
Where is this duplex located?
The property is located at 55 Smith St Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 2,302‑square‑foot duplex built in 1980; Three‑car attached garage; First apartment has 2 bedrooms, 2 baths, and a balcony
