Two-Family Duplex with
New
For Sale
$615,000
694 Johnstone Street, Perth Amboy, NJ 08861
Residential Income, Perth Amboy, NJ
Property Size1,536 SF
Lot Size0.11 Acres
Price / SF$400.39
Days on Market4
Property Features for 694 Johnstone Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-50
Zoning description
Conform to Zoning
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2, Den
Parking features
Garage
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room, Den/Family Room), Unit 2(2 Bedrooms, Kitchen, 1 Bath)
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven), Unit 2(Range/Oven)
Lot features
Corner Lot
Elementary school district
Perth Amboy City School Distri
Middle school district
Perth Amboy City School Distri
High school district
Perth Amboy City School Distri
Standard status
Active
APN
1600336000000003
Size
1,536 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8558
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1940
Flooring type
Carpet
Building materials
Metal Siding
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
Enrique Hernandez
(732) 841-7029
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 1:06PM
MLS# 2704169R
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 1,536-square-foot duplex, built in 1940, contains two residential units with matching two-bedroom, one-bath configurations. Unit 1 includes a den or family room, living room, eat-in kitchen, and enclosed sunroom, while Unit 2 offers an oversized living room, eat-in kitchen, and access to attic storage. Both units have range/ovens, and the property is heated by hot-water baseboard systems.
The property occupies a 0.1148-acre corner lot in Perth Amboy and includes two detached one-car garages. Additional features include a full unfinished basement, metal siding, carpeted flooring, gas water heating, public water, and public sewer. The property is zoned R-50 and is being sold in as-is condition, with the buyer responsible for the C of O and repairs.
The property occupies a 0.1148-acre corner lot in Perth Amboy and includes two detached one-car garages. Additional features include a full unfinished basement, metal siding, carpeted flooring, gas water heating, public water, and public sewer. The property is zoned R-50 and is being sold in as-is condition, with the buyer responsible for the C of O and repairs.
Key Highlights
- Two‑unit duplex with two bedrooms and one bath in each unit
- 1,536 square feet on a 0.1148‑acre corner lot
- Two detached one‑car garages
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
$25,707
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
4.18%
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%
$514,140
$514.1K
Cap Rate 7%
$367,243
$367.2K
Cap Rate 9%
$285,633
$285.6K
Market Conditions
NOI Build-Up for 1,536 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
$39.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$36.7K $23.91/SF
− OpEx
−$11.0K −$7.17/SF
NOI
$25.7K $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%
$514,140
Cap Rate 7%
$367,243
Cap Rate 9%
$285,633
Alternative Uses
Best Use
Multifamily LT 5
$367.2K
$321.3K – $428.5K
NOI $25,707 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$337.4K
$295.3K – $393.7K
NOI $23,621 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$401.1K
$351.0K – $467.9K
NOI $28,076 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,217
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - R-50-zoned duplex with two two-bedroom units, basement storage, and public water and sewer service.
Where is this duplex located?
The property is located at 694 Johnstone Street 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: Two‑unit duplex with two bedrooms and one bath in each unit; 1,536 square feet on a 0.1148‑acre corner lot; Two detached one‑car garages
