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About this home
Excellent investment opportunity at 361 Prospect St in Perth Amboy! This income-producing 3-family property offers a strong 8.6% CAP RATE with approximately $86,568 in annual net income after taxes and maintenance. The property features three spacious residential units, including two 2-bedroom units and one large 4-bedroom unit, providing a desirable unit mix for investors. Additional income potential is provided by three detached garages that can be rented separately. Tenants are responsible for their own utilities, helping to keep operating expenses low. The property also offers a full basement with 8 foot ceilings, a full bathroom/storage space, public water and sewer, and convenient access to local shopping, transportation, schools, major roadways and the Perth Amboy waterfront. An attractive opportunity for investors seeking immediate cash flow with additional long-term upside. Owner will entertain SELLER FINANCING with a minimum 30% down payment, subject to acceptable terms and seller approval.
Dr. Herbert N Richardson 21st Century Elementary School
Public K-4 • Assigned • 0.1mi
3/10
Mc Ginnis Middle School
Public 6-8 • Assigned • 0.5mi
4/10
Perth Amboy High School
Public 9-12 • Assigned • 1.4mi
1/10
Provided by GreatSchools
About Southwestern Perth
Amboy
Southwestern Perth Amboy, located between the Arthur Kill waterfront and the Garden State Parkway corridor, is a residential and industrial Perth Amboy neighborhood with working piers and compact blocks of mid-century homes. The neighborhood’s character concentrates around the Smith Street and New Brunswick Avenue area, where corner delis, auto shops, and small storefronts set a steady, utilitarian rhythm. Brick rowhouses and modest capes mix with warehouse edges and rail-adjacent streets. Waterfront air and ship-channel views shape the daily backdrop. Nearby green space and shoreline paths add room to roam without changing the area’s grounded feel.
Provided by Walk Score and Local Logic
Market insights
361 Prospect St · $999,999
DAYS ON MARKET
1 days
The average home goes pending in 70 days.
SALE-TO-LIST
101.0%
Most homes are selling 1% above list price.
LIST PRICE
$999,999
Median sale price in this area is $578,103. (42% lower than this home)
PRICE DROP
0 price drops
13% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Two-story interior
Unit 3 contains 4 bedrooms
11 total rooms
Full basement with full bath
Bedrooms
Unit 3: 4 bedrooms
Bathrooms
Full bathroom in the basement
Kitchen
Water heater (gas)
Laundry & utility
Multiple separate meters: 4 electric meters, 3 gas meters, 3 water meters
Heating & cooling
Baseboard heating
Radiant heating
Forced air heating
Wall A/C units
Window A/C units
Exterior features
Near shopping
See remarks
Home design
Multi-unit property (at least one unit identified as Unit 3)
Two stories
Parking
Detached garage
Covered parking for 3 vehicles
Garage provides 3 spaces; supports 1–2 and 3–4 car parking configurations
Construction
Asphalt roof
Building total area 2,868
Lot approximately 0.1205 acres (approx. 105.00 x 0.00 dimensions listed)
Utilities
Public water
Public sewer
Natural gas connected; fuel sources include natural gas and oil
Other
Garbage service included in tax
Electricity and solar
View estimated energy costs and solar savings for this home
Three family house, one 2 bedroom apartment with 1 bath, one 2 bedroom apartment with 1 full bath & 1 bath with shower, one large 4 bedroom with 1 bath. The property has three detached garages which are rented separtely. High income producing property for investor.
GSMLS #3990582
Nov 10, 2025
Rental Removed
$2,850
$1/sq ft
Oct 8, 2025
Listed for Rent
$2,850
$1/sq ft
CJMLS #2660618M
Oct 8, 2025
Rental Removed
$2,850
$1/sq ft
Oct 7, 2025
Listed for Rent
$2,850
$1/sq ft
GSMLS #2678629
Sep 10, 2009
Sold
$225,000
$78/sq ft
Public Records
May 7, 2004
Sold
$350,000
$122/sq ft
Public Records
Jan 21, 2000
Sold
$177,500
$62/sq ft
Public Records
Jun 29, 1998
Sold
$160,000
$56/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$9,973 (+18.8%)
$99,000 + $214,800
$313,800
2024
$8,396 (+0.2%)
$99,000 + $214,800
$313,800
2023
$8,380 (+1.2%)
$99,000 + $179,300
$278,300
2022
$8,279 (−0.1%)
$99,000 + $179,300
$278,300
2021
$8,291
$99,000 + $179,300
$278,300
2020
$8,288 (−0.4%)
$99,000 + $179,300
$278,300
2019
$8,318 (+0.9%)
$99,000 + $179,300
$278,300
2018
$8,246 (+0.2%)
$99,000 + $179,300
$278,300
2017
$8,229 (+2.7%)
$99,000 + $179,300
$278,300
2016
$8,015 (−1.3%)
$99,000 + $179,300
$278,300
2014
$8,120 (+2.8%)
$99,000 + $179,300
$278,300
2013
$7,895 (−3.5%)
$99,000 + $179,300
$278,300
2011
$8,185 (−18.7%)
$129,000 + $179,300
$308,300
2010
$10,071 (+3.7%)
$129,000 + $179,300
$308,300
2009
$9,715
$129,000 + $280,400
$409,400
Public record
Beds
—
Baths
—
Stories
2
Lot width
50 ft.
Lot depth
105 ft.
Lot size
5,249 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
2,868
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,868
Year built
1903
Style
Single Family Residential
County
Middlesex County
APN
1600159 00004
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 6, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
8/10 Heat Factor
7 days above 99° expected this year, 15 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 6 days in 30 years
Provided by First Street
Historical weather
Perth Amboy, NJ • 08861
Average low and high temperatures (°F)
36
23
40
26
57
37
65
46
72
54
83
65
88
71
81
63
77
61
68
50
56
40
41
28
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
76/ 100
Good sunlight
Sunscore
This home receives average direct sun exposure in Perth Amboy. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.2 hrs
4.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 361 Prospect St
$971,011
$29K under list price of $1.00M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $470K to $950K.