2-Unit Duplex with Full
For Sale
$424,000
202 Atlantic St, Paterson, NJ 07503
Multi-Family, 2-Two Story, Paterson City, NJ
Property Size1,364 SF
Lot Size0.06 Acres
Price / SF$310.85
Days on Market49
Property Features for 202 Atlantic St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 2, Bathroom 2
Patio and Porch features
Porch
Exterior features
Open Porch(es), Privacy Fence
Fencing
Privacy
Directions
Valley Road or Main St to Atlantic
Standard status
Active
Size
1,364 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6594
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
fenced rear yard
Building Details
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE · Keller Williams Realty
(201) 445-4300
Listed By:
JASON SHAGAWAT · License #0998944
(973) 650-0647
Added: Aug 19
Changed: Sep 12
Last Checked: Oct 6 at 6:06PM
MLS# 4047721
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 legal two-family duplex contains 1,364 square feet with two residential units, each arranged with one bedroom and one full bathroom. Separate utilities and heating systems support independent operation, while the full basement adds storage and utility space. Recent property updates include newer water heaters, updated heating systems, a newer shingle roof, and refreshed finishes in the upper unit. Updated flooring is also included.
The 0.06-acre parcel features a fenced rear yard with a privacy fence and open porch. Public water and public sewer serve the property. The home is located in Paterson City, near shopping, dining, transportation, schools, and major roadways.
The 0.06-acre parcel features a fenced rear yard with a privacy fence and open porch. Public water and public sewer serve the property. The home is located in Paterson City, near shopping, dining, transportation, schools, and major roadways.
Key Highlights
- Legal 2‑family duplex with two 1‑bedroom, 1‑bath units
- 1,364 square feet on a 0.06‑acre lot
- Separate utilities and heating systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,828
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,560
$456.6K
Cap Rate 7%
$326,114
$326.1K
Cap Rate 9%
$253,644
$253.6K
Market Conditions
NOI Build-Up for 1,364 SF
Gross rent
$34.9K $25.56/SF
− Vacancy
−$2.3K −$1.65/SF
EGI
$32.6K $23.91/SF
− OpEx
−$9.8K −$7.17/SF
NOI
$22.8K $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 Rate 5%
$456,560
Cap Rate 7%
$326,114
Cap Rate 9%
$253,644
Alternative Uses
Best Use
Multifamily LT 5
$326.1K
$285.4K – $380.5K
NOI $22,828 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$299.7K
$262.2K – $349.6K
NOI $20,976 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 07503, NJ
19,893
Population
6,560
Households
3
Avg Household Size
35
Median Age
15%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
13,262
Density / Sq Mi
$60,295
Median Household Income
$35,611
Median Earnings
$1,605
Median Rent
$314,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units feature separate utilities, independent heating systems, and a fenced rear yard.
Where is this duplex located?
The property is located at 202 Atlantic St Paterson, NJ.
What is the asking price?
The asking price for this property is $424,000.
What are key features of this property?
This property features: Legal 2‑family duplex with two 1‑bedroom, 1‑bath units; 1,364 square feet on a 0.06‑acre lot; Separate utilities and heating systems for each unit
