Two-Family Home with Attached
For Sale
Under Contract
$699,999
55 Smith Street, Perth Amboy, NJ 08861
MULTI_FAMILY - Perth Amboy, NJ
Property Size2,302 SF
Lot Size0.04 Acres
Price / SF$304.08
Days on Market111
Property Features for 55 Smith Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-MM
Bathrooms
4
Full bathrooms
4
Rooms
Dining Room, Bathroom 2, Bathroom 4, Bathroom 1, Basement, Bathroom 3, Den
Parking features
Garage
Patio and Porch features
Patio, Porch
Interior features
Unit 1(Dining Room, 2 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths), Unit 2(Dining Room, 2 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths, Den/Family Room)
Exterior features
Patio, Porch(es) - Open
Appliances
Water Heater(See Remarks), Water Heater
Subdivision
Bayside Villa
Lot features
Near Train, Near Public Transit
Elementary school district
Perth Amboy City School Distri
Middle school district
Perth Amboy City School Distri
High school district
Perth Amboy City School Distri
Directions
From Perth Amboy Train Station take Smith St to 55 Smith (About 1/2 Mile)
Standard status
Active Under Contract
APN
1600055000000014
Size
2,302 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10274
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
Balcony
Terrace
Laundry Hook up
Central Air
Building Details
Year built
1980
Floors in Building
3
Building materials
Stucco
Listing Agency:
RE/MAX COMPETITIVE EDGE · RE/MAX International
(732) 548-5555
Listed By:
Nadeem Qavi · License #1109799
(908) 791-1010
Added: Apr 28
Changed: Aug 1
Last Checked: Aug 16 at 11:06PM
MLS# 2614758R
Copyright © 2026 All Jersey 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 two-family home features two separate apartments, each with a living room, dining room, two bedrooms, and laundry hook-ups. Apartment 1 includes two-plus baths, while Apartment 2 includes two-plus baths plus an additional den or family room that could serve as a third bedroom, along with a large terrace for entertaining. The property also includes a basement with two rooms, patio and open porch areas, forced-air heating, and central air. Separate gas and electric meters support independent utility setups.
The home is stucco construction and includes parking in the form of attached garage(s). The property sits on a 0.0407-acre lot with public water and public sewer. Bus stop access is across the street, and a train station is described as about a 10-minute walk with direct trains to NYC.
Built in 1980, the layout includes balcony space associated with Apartment 1 and Apartment 2, as described in the unit details.
The home is stucco construction and includes parking in the form of attached garage(s). The property sits on a 0.0407-acre lot with public water and public sewer. Bus stop access is across the street, and a train station is described as about a 10-minute walk with direct trains to NYC.
Built in 1980, the layout includes balcony space associated with Apartment 1 and Apartment 2, as described in the unit details.
Key Highlights
- 0.0407‑acre lot
- Two apartments with laundry hook‑ups
- Separate gas and electric meters
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,628
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-unit home on a public sewer and water system with central air and laundry hook-ups for both apartments.
Where is this duplex located?
The property is located at 55 Smith Street 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: 0.0407‑acre lot; Two apartments with laundry hook‑ups; Separate gas and electric meters
