Two-Family Residential Income
640 Florida Grove Road Perth Amboy, NJ 08861
New
For Sale
$699,999
MULTI_FAMILY - Perth Amboy, NJ
Property Size2,146 SF
Lot Size0.12 Acres
Price / SF$326.19
Days on Market2
Property Features for 640 Florida Grove Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-60
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 1, Basement, Dining Room, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
- Interior features
- Unit 1(1 Bath, 2 Bedrooms, Dining Room, Kitchen, Living Room), Unit 2(1 Bath, 2 Bedrooms, Dining Room, Kitchen, Living Room)
- Appliances
- Water Heater(Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator), Unit 2(Refrigerator)
- Standard status
- Active
- APN
- 1600299000000017
- Size
- 2,146 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9010
Utilities
- Sewer type
- Public Sewer
- Heating system
- Radiant
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1949
- Floors in Building
- 2
- Flooring type
- Carpet
- Building materials
- Brick
Listing Agency:
REAL
(855) 450-0442
Listed By:
Ivettelis Castro
(212) 380-3203
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 6:06PM
MLS# 2770151M
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.
640 Florida Grove Road is a well-maintained two-family home featuring two separate units, each with two bedrooms and one full bathroom. The property also includes a finished basement with a private entrance, adding additional flexible space.
Outside, the driveway and backyard have newer pavers installed in 2020, supporting low-maintenance outdoor use. The home is located in Perth Amboy, with convenient access to shopping, dining, schools, public transportation, and major routes including Routes 287, 440, 35, 1 & 9, and the New Jersey Turnpike.
Offered with a lot size of 0.124 acres and total property size of 2,146 square feet, this residence provides a straightforward two-unit configuration suitable for an owner-occupant or investor.
Outside, the driveway and backyard have newer pavers installed in 2020, supporting low-maintenance outdoor use. The home is located in Perth Amboy, with convenient access to shopping, dining, schools, public transportation, and major routes including Routes 287, 440, 35, 1 & 9, and the New Jersey Turnpike.
Offered with a lot size of 0.124 acres and total property size of 2,146 square feet, this residence provides a straightforward two-unit configuration suitable for an owner-occupant or investor.
Key Highlights
- Brick two‑family home built in 1949 with two units, each with 2 bedrooms and 1 full bathroom
- Each unit includes a dining room, kitchen, and living room
- Finished basement with a private entrance adds flexible additional space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.9k | $25.56 |
| − Vacancy | −$3.5k | −$1.65 |
| EGI | $51.3k | $23.91 |
| − OpEx | −$15.4k | −$7.17 |
| NOI | $35.9k | $16.74 |
2,146 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$513.1K
$449.0K – $598.6K
NOI $35,916 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $33,001 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$560.4K
$490.3K – $653.8K
NOI $39,225 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate units each offer two bedrooms and one full bathroom, plus a finished basement with private entrance.
Where is this duplex located?
The property is located at 640 Florida Grove Road 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: Brick two‑family home built in 1949 with two units, each with 2 bedrooms and 1 full bathroom; Each unit includes a dining room, kitchen, and living room; Finished basement with a private entrance adds flexible additional space
