Occupied Duplex with Fenced
For Sale
$550,000
655 Charles St, Perth Amboy, NJ 08861
Two occupied units offer separate gas and electric meters, storage space, and access to a fenced outdoor area.
Property Size1,584 SF
Price / SF$347.22
Days on Market28
Property Features for 655 Charles St
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
storage shed
fully fenced yard
Building Details
Year Built
1939
Tenancy
Multi
Listing Agency:
SIGNATURE REALTY NJ
(973) 921-1111
Listed By:
GREGORY JEAN
Source:
Mynewjerseyrealestate
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 31 at 6:49PM
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 SIGNATURE REALTY NJ
Investment Insights
Based on property information with market context.
This 1,584-square-foot duplex, built in 1939, contains two occupied residential units. Each unit includes a family room or den that can serve as additional living space or a bedroom. Separate gas and electric meters support independent utility management, while a large rear storage shed and fully fenced yard add practical outdoor and storage amenities. The property is being sold AS-IS.
The property is located 6 minutes from the Perth Amboy Train Station, which offers direct train service to NYC. Its Downtown Perth Amboy setting places the residence near the station and supports commuter access. Showings are coordinated with the current tenants.
The property is located 6 minutes from the Perth Amboy Train Station, which offers direct train service to NYC. Its Downtown Perth Amboy setting places the residence near the station and supports commuter access. Showings are coordinated with the current tenants.
Key Highlights
- Two occupied residential units in a 1,584‑square‑foot duplex
- Built in 1939 with separate gas and electric meters
- Each unit includes a family room or den
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
$26,510
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
4.82%
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%
$530,200
$530.2K
Cap Rate 7%
$378,714
$378.7K
Cap Rate 9%
$294,556
$294.6K
Market Conditions
NOI Build-Up for 1,584 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
$40.5K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$37.9K $23.91/SF
− OpEx
−$11.4K −$7.17/SF
NOI
$26.5K $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%
$530,200
Cap Rate 7%
$378,714
Cap Rate 9%
$294,556
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.4K – $441.8K
NOI $26,510 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,359 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$413.6K
$361.9K – $482.6K
NOI $28,953 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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?
Duplex - Two occupied units offer separate gas and electric meters, storage space, and access to a fenced outdoor area.
Where is this duplex located?
The property is located at 655 Charles St Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two occupied residential units in a 1,584‑square‑foot duplex; Built in 1939 with separate gas and electric meters; Each unit includes a family room or den
