Three-Unit Residential Income
For Sale
$749,000
640 Elizabeth Street, Perth Amboy, NJ 08861
Three-unit multifamily home with two-bedroom layouts in each unit and a separate-entrance attic area.
Property Size2,141 SF
Price / SF$349.84
Days on Market100
Property Features for 640 Elizabeth Street
General Information
Standard status
Active
Size
2,141 SF
Property subtype
Multi-family
Additional Details
Business Included
No
Multifamily Units
3
Building Details
Year Built
1909
Listing Agency:
PETRA BEST REALTY LLC
Listed By:
ELVIS COLLADO
(833) 740-1234
Source:
Actionplusrealty
Added: May 27
Changed: Sep 2
Last Checked: Sep 1 at 8:52PM
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 three-unit residential income property features three separate apartments, with each unit offering two bedrooms, one full bathroom, a kitchen, and a living room. The 3rd-floor unit will be delivered vacant at closing and includes two additional rooms in the attic with a separate entrance, providing added flexibility for storage or other use.
The property is located at 640 Elizabeth Street in Perth Amboy, NJ, and is being sold strictly as-is.
For buyers seeking either a live-in setup with rental income or a straightforward multifamily acquisition, this configuration offers consistent unit layouts across the property, along with the attic area tied to the upper unit.
The property is located at 640 Elizabeth Street in Perth Amboy, NJ, and is being sold strictly as-is.
For buyers seeking either a live-in setup with rental income or a straightforward multifamily acquisition, this configuration offers consistent unit layouts across the property, along with the attic area tied to the upper unit.
Key Highlights
- Three‑unit multifamily home built in 1909 in Perth Amboy
- Each apartment offers 2 bedrooms, 1 full bathroom, a kitchen, and a living room
- 3rd‑floor unit will be delivered vacant at closing
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
$35,832
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
4.78%
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%
$716,640
$716.6K
Cap Rate 7%
$511,886
$511.9K
Cap Rate 9%
$398,133
$398.1K
Market Conditions
NOI Build-Up for 2,141 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
$54.7K $25.56/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$51.2K $23.91/SF
− OpEx
−$15.4K −$7.17/SF
NOI
$35.8K $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%
$716,640
Cap Rate 7%
$511,886
Cap Rate 9%
$398,133
Alternative Uses
Best Use
Multifamily LT 5
$511.9K
$447.9K – $597.2K
NOI $35,832 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$470.3K
$411.6K – $548.7K
NOI $32,924 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$559.1K
$489.2K – $652.2K
NOI $39,134 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,059
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?
Triplex - Three-unit multifamily home with two-bedroom layouts in each unit and a separate-entrance attic area.
Where is this triplex located?
The property is located at 640 Elizabeth Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Three‑unit multifamily home built in 1909 in Perth Amboy; Each apartment offers 2 bedrooms, 1 full bathroom, a kitchen, and a living room; 3rd‑floor unit will be delivered vacant at closing
