442 Bordentown Ave · South Amboy, NJ 08879

$799,000

9 bd · 3.0 ba · 2,590 sqft · MultiFamily · 156 Days on market

6,399 sqft lot $308/sqft · 16% above area Est $692k · 16% over

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Corner 3-Family (Conditionally Approved) Property (Formerly Commercial/Mixed-Use) for Sale in South Amboy, NJ. Great location! Short distance to shopping, parks, trains, buses and ferry terminals. The property features an expansive private parking area in the rear, which can fit 14 cars. The basement features high ceilings, perfect for max storage or future living space. Apt/Unit 1 (front left) has 4 bedrooms and 1 bath. Apt/Unit 2 (front right) has 2 bedrooms, 1 bath, plus a laundry room. Apt/Unit 3 (back 3rd floor) has 2 bedrooms and 1 bath (and semi-enclosed private balcony) [rental income opportunity] currently month-to-month. Please note: buyer must complete full conversion from mixed-use to residential. It was [formerly] 3 units: 2 commercial, 1 residential and the owner obtained conditional approval for 3 residential units. The buyer MUST obtain full approval by conversion as outlined by the city.

Key facts

• Near bus
• Great location
• Near train

Tags

• GREAT LOCATION
• NEAR BUS
• NEAR TRAIN
• MAJOR HIGHWAYS
• VARIOUS SHOPPING CENTERS
• RARITAN BAY WATERFRONT

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 2×2bd/1.0ba units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $367/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $799k).
• Recommended offer: $703k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.4% in South Amboy — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#113 in NJ, #2,891 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: schools D+, amenities F, cost of living F.
• South Amboy School District (suburban): math 17% / reading 39% proficiency, ranked #355 of 472 in NJ (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 70 active listings in the ZIP; solid renter incomes; 1,971 units permitted in Middlesex County in 2024 (1,193 in 5+ unit buildings).
• At $8,382/mo this rent would consume 108% of the median local household income ($93k/yr) (locally 875% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Middlesex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($703k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $365k; list at $799k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $703,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.90%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (median comp): $691,766
• List price: $799,000
• Delta: 15.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.64% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.65×
• Total profit: $-78,728
• Equity at exit: $119,133

10-year hold

• IRR: -4.1%
• Equity multiple: 0.76×
• Total profit: $-53,931
• Equity at exit: $69,083

Cash invested: $223,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 08879

• Rents YoY: 0.6%
• Active inventory: 70
• Price-to-rent: 22.8×

Monthly cashflow live

• Estimated rent: $8,382 high
• Mortgage (P&I): −$4,190
• Tax est. 1.5%: −$999 /mo · $11,985/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,760
• Net cashflow: $1,100

Break-even live

Break-even rent $6,990

Max offer price $799,000

Occupancy floor 82%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,921
▸ 2× units	2	1	$5,460
Total (3 units)			$8,382

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $799,000 Active 156 DOM
2. 2026-06-17
   days on market $799,000 Active 155 DOM
3. 2026-06-16
   days on market $799,000 Active 154 DOM
4. 2026-06-15
   days on market $799,000 Active 153 DOM
5. 2026-06-13
   days on market $799,000 Active 151 DOM
6. 2026-06-09
   days on market $799,000 Active 147 DOM
7. 2026-06-08
   days on market $799,000 Active 146 DOM
8. 2026-06-07
   days on market $799,000 Active 145 DOM
9. 2026-06-04
   days on market $799,000 Active 142 DOM
10. 2026-06-03
    days on market $799,000 Active 141 DOM
11. 2026-06-02
    days on market $799,000 Active 140 DOM
12. 2026-06-01
    days on market $799,000 Active 139 DOM
13. 2026-05-31
    days on market $799,000 Active 138 DOM
14. 2026-01-13
    price $799,000 918-char remark

    Show marketing remark (918 chars)

    Corner 3-Family (Conditionally Approved) property (formerly Commercial/Mixed-Use) for Sale in South Amboy, NJ. Great location! Short distance to shopping, parks, trains, buses and ferry terminals. The property features an expansive private parking area in the rear, which can fit 14 cars. The basement features high ceilings, perfect for max storage or future living space. Apt/Unit 1 (front left) has 4 bedrooms and 1 bath. Apt/Unit 2 (front right) has 2 bedrooms, 1 bath, plus a laundry room. Apt/Unit 3 (back 3rd floor) has 2 bedrooms and 1 bath (and semi-enclosed private balcony) [rental income opportunity] currently month-to-month. Please note: buyer must complete full conversion from mixed-use to residential. It was [formerly] 3 units: 2 commercial, 1 residential and the owner obtained conditional approval for 3 residential units. The buyer MUST obtain full approval by conversion as outlined by the city.

15. 2026-01-13
    listed $799 Active 918-char remark

    Show marketing remark (918 chars)

    Corner 3-Family (Conditionally Approved) property (formerly Commercial/Mixed-Use) for Sale in South Amboy, NJ. Great location! Short distance to shopping, parks, trains, buses and ferry terminals. The property features an expansive private parking area in the rear, which can fit 14 cars. The basement features high ceilings, perfect for max storage or future living space. Apt/Unit 1 (front left) has 4 bedrooms and 1 bath. Apt/Unit 2 (front right) has 2 bedrooms, 1 bath, plus a laundry room. Apt/Unit 3 (back 3rd floor) has 2 bedrooms and 1 bath (and semi-enclosed private balcony) [rental income opportunity] currently month-to-month. Please note: buyer must complete full conversion from mixed-use to residential. It was [formerly] 3 units: 2 commercial, 1 residential and the owner obtained conditional approval for 3 residential units. The buyer MUST obtain full approval by conversion as outlined by the city.

16. 2026-01-13
    listed $799,000 Active 918-char remark

    Show marketing remark (918 chars)

    Corner 3-Family (Conditionally Approved) property (formerly Commercial/Mixed-Use) for Sale in South Amboy, NJ. Great location! Short distance to shopping, parks, trains, buses and ferry terminals. The property features an expansive private parking area in the rear, which can fit 14 cars. The basement features high ceilings, perfect for max storage or future living space. Apt/Unit 1 (front left) has 4 bedrooms and 1 bath. Apt/Unit 2 (front right) has 2 bedrooms, 1 bath, plus a laundry room. Apt/Unit 3 (back 3rd floor) has 2 bedrooms and 1 bath (and semi-enclosed private balcony) [rental income opportunity] currently month-to-month. Please note: buyer must complete full conversion from mixed-use to residential. It was [formerly] 3 units: 2 commercial, 1 residential and the owner obtained conditional approval for 3 residential units. The buyer MUST obtain full approval by conversion as outlined by the city.

17. 2025-08-16
    price $799,000
18. 2025-08-16
    status Active
19. 2025-05-09
    status Pending
20. 2025-04-29
    listed $750,000 Active
21. 2022-04-26
    price $429,900
22. 2021-11-19
    soldstatus $365,000 Closed
23. 2021-03-02
    historical
24. 2021-02-09
    listed $379,900 Active
25. 2016-10-27
    price $325,000
26. 2016-10-04
    price $350,000
27. 2016-08-01
    price $375,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $100,584
• − Mortgage interest: −$44,756
• − Property taxes: −$11,985
• − Insurance: −$3,995
• − Repairs & maintenance: −$8,047
• − Management: −$8,047
• − Depreciation: −$23,244
• Taxable income: $511
• Est. tax owed @ 24.0%: −$123
• After-tax cash flow: $13,078/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: South Amboy School District
• NCES district ID: 3415120
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $63,314
• Composite: 25.73/100
• National rank: #7380
• State rank: #355 of 472 in NJ

Livability — South Amboy

• Score: 77/100
• State rank: #113
• US rank: #2891

Category grades

Amenities F Commute A+ Cost of living F Crime A- Employment A+ Housing A+ Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Amboy, NJ
• County: Middlesex County · 714,427 people
• City population: 23,556
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 23,556
• Household income: $92,786
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 875.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 901,713 people
• By 2030: 930,661 · +3.2%
• By 2040: 986,276 · +9.4%
• By 2050: 1,038,920 · +15.2%
• By 2075: 1,159,418 · +28.6%
• By 2100: 1,221,973 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 23% Two or more races 14% Black 10% Asian 9%
• Hispanic origin (detail): Puerto Rican 9% Dominican 8%
• Common ancestry: Romanian 11% Scotch-Irish 2% Russian 2%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 15% Other Indo-European 6% Russian/Polish/Slavic 4%

Political lean MEDSL · Middlesex

• 2024 margin: Lean D (+8.0) · D 52.5% · R 44.5% · Other 3.0%
• 2008→2024 swing: -13.8pp toward R · 2008: 21.8pp · 2024: 8.0pp
• All cycles: 2024: D+8.0 2020: D+22.0 2016: D+19.8 2012: D+27.0 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -193.57%
• Current HPI: 328.4992
• Rent YoY: ▲ 0.64%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

+113.1% since first listed

14 events — show timeline

• 2026-01-13 Price Changed $799,000 CJMLS
• 2026-01-13 Listed $799,000 GSMLS
• 2026-01-13 Listed $799 CJMLS
• 2025-08-16 Price Changed $799,000 CJMLS
• 2025-08-16 Relisted — NJMLS
• 2025-05-09 Pending — NJMLS
• 2025-04-29 Listed $750,000 NJMLS
• 2022-04-26 Price Changed $429,900 CJMLS
• 2021-11-19 Sold (MLS) $365,000 CJMLS
• 2021-03-02 Delisted — CJMLS
• 2021-02-09 Listed $379,900 CJMLS
• 2016-10-27 Price Changed $325,000 CJMLS
• 2016-10-04 Price Changed $350,000 CJMLS
• 2016-08-01 Price Changed $375,000 CJMLS