Renovated Two-Family
For Sale
$499,999
168 N Main St, Paterson, NJ 07522
Two residences combine updated interiors, practical layouts, and dedicated or in-unit laundry.
Property Size1,712 SF
Price / SF$292.06
Days on Market17
Property Features for 168 N Main St
General Information
Standard status
Active
Size
1,712 SF
Property subtype
Multi-Family
Units
Unit Mix
2BR/1BA + office, 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
washer/dryer
Building Details
Year Built
1888
Buildings
1
Listing Agency:
KELLER WILLIAMS PROSPERITY REALTY
(973) 696-0077
Listed By:
DAVID EDWIN ARTEAGA · License #397730
Source:
Luminancerealty
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 30 at 7:37PM
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 KELLER WILLIAMS PROSPERITY REALTY
Investment Insights
Based on property information with market context.
This two-family duplex offers a first-floor residence with two bedrooms, a separate office, and one full bathroom. The upper residence includes three bedrooms, one bathroom, an open living arrangement, and a modern kitchen with an island. Both units feature updated interior finishes, with laundry provided through a basement washer and dryer for the first-floor unit and an in-unit washer and dryer upstairs.
The building has brand-new furnaces and boilers and was originally constructed in 1888. Located at 168 N Main St in Paterson, the property is near schools, shopping, and public transportation. Its two-unit configuration and distinct layouts accommodate residential use across both floors.
The building has brand-new furnaces and boilers and was originally constructed in 1888. Located at 168 N Main St in Paterson, the property is near schools, shopping, and public transportation. Its two-unit configuration and distinct layouts accommodate residential use across both floors.
Key Highlights
- Two‑family duplex with a 2‑bedroom first‑floor unit and a 3‑bedroom second‑floor unit
- First‑floor residence includes a dedicated office and basement laundry access
- Second‑floor unit offers an open layout and kitchen island
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
$28,652
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
5.73%
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%
$573,040
$573.0K
Cap Rate 7%
$409,314
$409.3K
Cap Rate 9%
$318,356
$318.4K
Market Conditions
NOI Build-Up for 1,712 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
$43.8K $25.56/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.9K $23.91/SF
− OpEx
−$12.3K −$7.17/SF
NOI
$28.7K $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%
$573,040
Cap Rate 7%
$409,314
Cap Rate 9%
$318,356
Alternative Uses
Best Use
Multifamily LT 5
$409.3K
$358.2K – $477.5K
NOI $28,652 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$376.1K
$329.1K – $438.8K
NOI $26,327 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$447.0K
$391.2K – $521.6K
NOI $31,293 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,440
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 - Two residences combine updated interiors, practical layouts, and dedicated or in-unit laundry.
Where is this duplex located?
The property is located at 168 N Main St Paterson, NJ.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Two‑family duplex with a 2‑bedroom first‑floor unit and a 3‑bedroom second‑floor unit; First‑floor residence includes a dedicated office and basement laundry access; Second‑floor unit offers an open layout and kitchen island
