Two-Unit Duplex with
For Sale
Under Contract
$615,000
68 Catalpa Avenue, Perth Amboy, NJ 08861
Residential Income, Perth Amboy, NJ
Property Size2,559 SF
Lot Size0.08 Acres
Price / SF$240.33
Days on Market97
Property Features for 68 Catalpa Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Conform to Zoning
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1, Dining Room
Parking features
Garage
Patio and Porch features
Porch
Interior features
Unit 1(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Porch(es) - Open, Yard
Appliances
Water Heater(See Remarks, Gas), Water Heater, Unit 1(Range/Oven), Unit 2(Range/Oven)
Lot features
Waterview
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
Lewis Street right onto Catalpa Ave
Standard status
Active Under Contract
APN
1600005000000027
Size
2,559 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8828
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating)
Water source
Public
Building Details
Year built
1919
Floors in Building
2
Building materials
Vinyl Siding, Synthetic Stucco
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
Enrique Hernandez
(732) 841-7029
Added: Jun 1
Changed: Sep 1
Last Checked: Sep 5 at 6:06PM
MLS# 2616749R
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 2,559-square-foot duplex, built in 1919, contains two residential units with matching layouts. Each residence includes two bedrooms, one bathroom, a kitchen, dining room, and living room. The property has received some updates but requires further work and is offered strictly as-is.
Exterior features include an open porch, yard, vinyl siding, synthetic stucco, and a garage. Public water and public sewer serve the property, while heating includes hot water and another system identified in the property details. An abandoned in-ground oil tank is present, and buyers are encouraged to complete their own due diligence.
The home is located one block from the Perth Amboy Waterfront, with shopping, dining, public transportation, and major roadways identified as accessible from the property.
Exterior features include an open porch, yard, vinyl siding, synthetic stucco, and a garage. Public water and public sewer serve the property, while heating includes hot water and another system identified in the property details. An abandoned in-ground oil tank is present, and buyers are encouraged to complete their own due diligence.
The home is located one block from the Perth Amboy Waterfront, with shopping, dining, public transportation, and major roadways identified as accessible from the property.
Key Highlights
- 2,559‑square‑foot duplex on a 0.0771‑acre lot
- Two units, each with 2 bedrooms and 1 bathroom
- Garage, open porch, and yard
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
$42,828
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
6.96%
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%
$856,560
$856.6K
Cap Rate 7%
$611,829
$611.8K
Cap Rate 9%
$475,867
$475.9K
Market Conditions
NOI Build-Up for 2,559 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
$65.4K $25.56/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$61.2K $23.91/SF
− OpEx
−$18.4K −$7.17/SF
NOI
$42.8K $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%
$856,560
Cap Rate 7%
$611,829
Cap Rate 9%
$475,867
Alternative Uses
Best Use
Multifamily LT 5
$611.8K
$535.4K – $713.8K
NOI $42,828 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$562.2K
$491.9K – $655.9K
NOI $39,352 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$668.2K
$584.7K – $779.6K
NOI $46,774 @ 7.0% cap · market cap 7.61%
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
526
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 residences each offer two bedrooms, one bath, a kitchen, dining room, and living room, with additional work required.
Where is this duplex located?
The property is located at 68 Catalpa Avenue Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 2,559‑square‑foot duplex on a 0.0771‑acre lot; Two units, each with 2 bedrooms and 1 bathroom; Garage, open porch, and yard
