120 S Broadway · South Amboy, NJ 08879

$999,999

8 bd · 115.0 ba · 3,386 sqft · MultiFamily public records · 23 Days on market

2,801 sqft lot

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Why this score? — see what drove the C 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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Located in the heart of South Amboy directly across from the train station and bus stop, this exceptional four-family investment property offers unbeatable convenience especially for commuters. With the NYC ferry also located in town, transportation options are endless. Situated on one of the town's central streets, residents enjoy being just minutes from local restaurants, shopping, schools, parks, houses of worship, and list goes on, on Broadway. This property consists of four units, including two 3-bedroom apartments, one 1-bedroom unit, and one studio apartment. Three of the four units have been recently updated, making this a fantastic opportunity for both investors and owner-occupants seeking strong rental potential in a highly desirable location. On-street parking is always accessible, free of charge. Come book your appointment and add this one to your portfolio.

Key facts

• Commuter convenience
• On-street parking
• Investment property

Tags

• INVESTMENT PROPERTY
• COMMUTER CONVENIENCE
• TRANSPORTATION OPTIONS
• RECENTLY UPDATED UNITS
• STRONG RENTAL POTENTIAL
• ON-STREET PARKING

Property features AI

Finance

• Other: Garbage service included in tax; Listing for sale

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Natural gas service; Five separate electric meters; Four separate gas meters; One separate water meter
• Home design: Multi-unit property
• Construction: Asphalt flat roof; Building area approximately 3,386
• Exterior features: Fenced yard; Near shopping and public transit, near train; Interior lot

Interior

• Kitchen: Water heater(s) present (see remarks)
• Flooring: Carpet in Unit 2
• Heating & cooling: Baseboard heating; Central heating; Forced air heating; Ceiling fans; Window A/C units
• Interior features: Kitchen and living room spaces included; Full basement with utility room; Three stories total; Total of 20 rooms

What this means for you Summary

Snapshot

• This is a 2×3bd/1ba + 2×1bd/1ba units multifamily listed at $1000k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $1000k).
• Recommended offer: $985k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 $10,847/mo this rent would consume 140% 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 $7k of loan paydown is wiped out by about $30k 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 23 days — a 2% lower offer ($985k) 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 $560k; list at $1000k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $984,999 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.30%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-53,271
• Equity at exit: $149,103

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $27,281
• Equity at exit: $86,462

Cash invested: $280,000 (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: 28.3×

Monthly cashflow live

• Estimated rent: $10,847 high
• Mortgage (P&I): −$5,244
• Tax from tax record: −$737 /mo · $8,847/yr
• Insurance: −$417
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,278
• Net cashflow: $2,105

Break-even live

Break-even rent $8,183

Max offer price $999,999

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,900
▸ 2× units	1	1	$4,948
Total (4 units)			$10,847

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: $250,000
• Closing costs: $30,000
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $999,999 Active 23 DOM
2. 2026-06-17
   days on market $999,999 Active 22 DOM
3. 2026-06-16
   days on market $999,999 Active 21 DOM
4. 2026-06-15
   days on market $999,999 Active 20 DOM
5. 2026-06-13
   days on market $999,999 Active 18 DOM
6. 2026-06-09
   days on market $999,999 Active 14 DOM
7. 2026-06-08
   days on market $999,999 Active 13 DOM
8. 2026-06-07
   days on market $999,999 Active 12 DOM
9. 2026-06-04
   days on market $999,999 Active 9 DOM
10. 2026-06-03
    days on market $999,999 Active 8 DOM
11. 2026-06-02
    days on market $999,999 Active 7 DOM
12. 2026-06-01
    days on market $999,999 Active 6 DOM
13. 2026-05-31
    days on market $999,999 Active 5 DOM
14. 2026-05-27
    listed $999,999 Active 882-char remark

    Show marketing remark (804 chars)

    Located in the heart of South Amboy directly across from the train station and bus stop, this exceptional four-family investment property offers unbeatable convenience especially for commuters. With the NYC ferry also located in town, transportation options are endless. Situated on one of the town's central streets, residents enjoy being just minutes from local restaurants, shopping, schools, parks, houses of worship, and list goes on, on Broadway. This property consists of four units, including two 3-bedroom apartments, one 1-bedroom unit, and one studio apartment. Three of the four units have been recently updated, making this a fantastic opportunity for both investors & owner-occupants seeking strong rental potential in a highly desirable location. On-street parking is always accessible

15. 2026-05-27
    listed $999,999 Active 804-char remark

    Show marketing remark (804 chars)

    Located in the heart of South Amboy directly across from the train station and bus stop, this exceptional four-family investment property offers unbeatable convenience especially for commuters. With the NYC ferry also located in town, transportation options are endless. Situated on one of the town's central streets, residents enjoy being just minutes from local restaurants, shopping, schools, parks, houses of worship, and list goes on, on Broadway. This property consists of four units, including two 3-bedroom apartments, one 1-bedroom unit, and one studio apartment. Three of the four units have been recently updated, making this a fantastic opportunity for both investors & owner-occupants seeking strong rental potential in a highly desirable location. On-street parking is always accessible

16. 2026-05-27
    listed $999,999 Active

    Show marketing remark (804 chars)

    Located in the heart of South Amboy directly across from the train station and bus stop, this exceptional four-family investment property offers unbeatable convenience especially for commuters. With the NYC ferry also located in town, transportation options are endless. Situated on one of the town's central streets, residents enjoy being just minutes from local restaurants, shopping, schools, parks, houses of worship, and list goes on, on Broadway. This property consists of four units, including two 3-bedroom apartments, one 1-bedroom unit, and one studio apartment. Three of the four units have been recently updated, making this a fantastic opportunity for both investors & owner-occupants seeking strong rental potential in a highly desirable location. On-street parking is always accessible

17. 2023-10-14
    historical $2,200
18. 2023-09-30
    listed $2,200
19. 2021-09-17
    soldstatus $559,900
20. 2021-09-14
    soldstatus $559,900 Closed
21. 2021-04-24
    historical
22. 2021-04-06
    listed $559,900 Active
23. 1980-12-01
    soldstatus $35,000

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $8,847 · $737/mo
• Projected year-2 tax: $16,873 · $1,406/mo
• Expected delta: +$8,027/yr (+$669/mo · 90.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $130,164
• − Mortgage interest: −$56,015
• − Property taxes: −$8,847
• − Insurance: −$5,797
• − Repairs & maintenance: −$10,413
• − Management: −$10,413
• − Depreciation: −$29,091
• Taxable income: $9,587
• Est. tax owed @ 24.0%: −$2,301
• After-tax cash flow: $22,955/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

+2757.1% since first listed

10 events — show timeline

• 2026-05-27 Listed $999,999 CJMLS
• 2026-05-27 Listed $999,999 MOMLS
• 2026-05-27 Listed $999,999 GSMLS
• 2023-10-14 Rental Removed $2,200 CJMLS
• 2023-09-30 Listed for Rent $2,200 CJMLS
• 2021-09-17 Sold (Public Records) $559,900 Public Records
• 2021-09-14 Sold (MLS) $559,900 CJMLS
• 2021-04-24 Delisted — CJMLS
• 2021-04-06 Listed $559,900 CJMLS
• 1980-12-01 Sold (Public Records) $35,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $8,847 · +0.2% YoY. Source: county tax records.