Residential Income
For Sale
$600,000
Pending
106 N 6Th St, Paterson, NJ 07522
Multi-Family, 3-Three Story, Paterson City, NJ
Property Size1,644 SF
Lot Size0.11 Acres
Days on Market158
Property Features for 106 N 6Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 4, Basement, Bathroom 2, Bedroom 2
Parking
2
Patio and Porch features
Deck
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Exterior features
Deck, Storm Door(s)
Lot features
Level Lot
Elementary school
NUMBER 28
Middle school
N.S. WEIR
High school
JFK
Directions
Jefferson St to N sixth St.
Standard status
Pending
Size
1,644 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8909
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1887
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY ONE GROUP LEGEND
(973) 772-0660
Listed By:
RON KENNERLY
(973) 686-7777
Added: Mar 20
Changed: Aug 19
Last Checked: Aug 24 at 1:06PM
MLS# 4015870
Copyright © 2026 Garden State MLS, LLC. 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 residential income duplex at 106 N 6Th St is offered for sale with a reported property size of 1,644 square feet on a 0.11-acre lot. The asset is classified as a duplex/multifamily property, supporting a two-unit residential configuration. As presented, the listing provides the key fundamentals for buyers evaluating a small income property.
The property is located in Paterson City in Passaic County, New Jersey (07522-1304). With the address included, interested parties can coordinate directly for access, viewings, and due diligence at the site level.
A duplex can appeal to owner-occupants seeking a built-in income component alongside a place to live, as well as to buyers looking for a straightforward residential income asset. The reported site size and overall property size can help inform underwriting and planning for leasing, routine maintenance, and property management. Prospective buyers and their representatives should review the existing unit layout, condition, and rent readiness during their on-site inspection and through standard financial and legal diligence.
The property is located in Paterson City in Passaic County, New Jersey (07522-1304). With the address included, interested parties can coordinate directly for access, viewings, and due diligence at the site level.
A duplex can appeal to owner-occupants seeking a built-in income component alongside a place to live, as well as to buyers looking for a straightforward residential income asset. The reported site size and overall property size can help inform underwriting and planning for leasing, routine maintenance, and property management. Prospective buyers and their representatives should review the existing unit layout, condition, and rent readiness during their on-site inspection and through standard financial and legal diligence.
Key Highlights
- Year built 1887
- Central air and forced‑air heating
- Multiple bedrooms and bathrooms (Bedrooms 1–5; Bathrooms 1–5)
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
$27,514
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
4.59%
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%
$550,280
$550.3K
Cap Rate 7%
$393,057
$393.1K
Cap Rate 9%
$305,711
$305.7K
Market Conditions
NOI Build-Up for 1,644 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
$42.0K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$39.3K $23.91/SF
− OpEx
−$11.8K −$7.17/SF
NOI
$27.5K $16.74/SF
Area
Paterson, 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%
$550,280
Cap Rate 7%
$393,057
Cap Rate 9%
$305,711
Alternative Uses
Best Use
Multifamily LT 5
$393.1K
$343.9K – $458.6K
NOI $27,514 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$361.2K
$316.0K – $421.4K
NOI $25,281 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$429.3K
$375.6K – $500.8K
NOI $30,050 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 07522, NJ
23,345
Population
7,440
Households
3.1
Avg Household Size
31
Median Age
10%
College-Educated
77%
High-School Grad
0.9 sq mi
ZIP Area
25,939
Density / Sq Mi
$48,002
Median Household Income
$31,997
Median Earnings
$1,458
Median Rent
$264,000
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 - Duplex for sale in Paterson, offering a residential income structure in a Passaic County setting.
Where is this duplex located?
The property is located at 106 N 6Th St Paterson, NJ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Year built 1887; Central air and forced‑air heating; Multiple bedrooms and bathrooms (Bedrooms 1–5; Bathrooms 1–5)
