End-Unit Residential Income
New
For Sale
$495,000
1293 Paddington Rd A2, Mahwah, NJ 07430
Two-bedroom, two-bath condominium with a covered balcony, in-unit laundry, and an open living and dining arrangement.
Property Size1,139 SF
Price / SF$434.59
Days on Market3
Property Features for 1293 Paddington Rd A2
General Information
Standard status
Active
Size
1,139 SF
Property subtype
Commercial
Financials
Asking Price
$495,000
HOA Fee
$470
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,062
Amenities
private covered balcony
in-unit laundry
Listing Agency:
HOWARD HANNA RAND REALTY
Listed By:
Mark Dari
(914) 772-1471
Source:
Elliman
Added: Sep 11
Last Checked: Sep 12 at 8:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HOWARD HANNA RAND REALTY
Investment Insights
Based on property information with market context.
This 1,139-square-foot end-unit condominium includes two bedrooms and two bathrooms. The residence features an open connection between the living and dining areas, an eat-in kitchen with room for a breakfast table, and a private covered balcony. Recent improvements include new wall-to-wall carpeting, hardwood flooring in the primary bedroom, and a fully replaced fire suppression system. In-unit laundry provides a private alternative to shared facilities.
The condominium is assigned to Lenape Meadows Elementary, Ramapo Ridge Junior High, and Mahwah High School. Shopping, dining, parks, and major highway access are described as minutes away. The property also has a Walk Score of 11 and a Bike Score of 29.
The condominium is assigned to Lenape Meadows Elementary, Ramapo Ridge Junior High, and Mahwah High School. Shopping, dining, parks, and major highway access are described as minutes away. The property also has a Walk Score of 11 and a Bike Score of 29.
Key Highlights
- 1,139‑square‑foot end‑unit condominium
- Two bedrooms and two bathrooms
- Private covered balcony off the main living area
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
$17,516
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
3.54%
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%
$350,320
$350.3K
Cap Rate 7%
$250,229
$250.2K
Cap Rate 9%
$194,622
$194.6K
Market Conditions
NOI Build-Up for 1,139 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
$34.2K $30.00/SF
− Vacancy
−$2.3K −$2.04/SF
EGI
$31.8K $27.96/SF
− OpEx
−$14.3K −$12.58/SF
NOI
$17.5K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$350,320
Cap Rate 7%
$250,229
Cap Rate 9%
$194,622
Alternative Uses
Best Use
Apartment 5plus
$250.2K
$219.0K – $291.9K
NOI $17,516 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.4K
$260.2K – $347.0K
NOI $20,819 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 07430, NJ
25,487
Population
10,058
Households
2.5
Avg Household Size
45
Median Age
60%
College-Educated
96%
High-School Grad
25.4 sq mi
ZIP Area
1,003
Density / Sq Mi
$128,125
Median Household Income
$59,767
Median Earnings
$2,301
Median Rent
$590,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with a covered balcony, in-unit laundry, and an open living and dining arrangement.
Where is this residential income property located?
The property is located at 1293 Paddington Rd A2 Mahwah, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,139‑square‑foot end‑unit condominium; Two bedrooms and two bathrooms; Private covered balcony off the main living area
