Two-Story Residential Income
For Sale
$409,000
202 Atlantic St, Paterson, NJ 07503
The building has forced-air heating, a natural-gas water heater, and a full basement that is unfinished.
Property Size1,364 SF
Days on Market56
Property Features for 202 Atlantic St
General Information
Standard status
Active
Size
1,364 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,594
Amenities
Forced Air, Natural Gas
Full, Unfinished
Gas Water Heater
On Street
2-Two Story
Building Details
Building Size
1,364 SF
Stories
2
Listing Agency:
Carnegie Real Estate LLC
Listed By:
JASON SHAGAWAT · License #0998944
(973) 650-0647
Source:
Evrealestate
Added: Aug 19
Changed: Oct 7
Last Checked: Oct 12 at 6:47PM
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 Carnegie Real Estate LLC
Investment Insights
Based on property information with market context.
This two-story residential income property at 202 Atlantic St in Paterson City, Passaic County, has a full, unfinished basement. Heating is forced air with natural gas, and the water heater is gas-fired.
On-street parking is indicated for the property. Directions reference Valley Road or Main Street to Atlantic Street.
On-street parking is indicated for the property. Directions reference Valley Road or Main Street to Atlantic Street.
Key Highlights
- Two‑story building
- Full basement, unfinished
- Forced‑air heating with natural gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,976
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,520
$419.5K
Cap Rate 7%
$299,657
$299.7K
Cap Rate 9%
$233,067
$233.1K
Market Conditions
NOI Build-Up for 1,364 SF
Gross rent
$40.9K $30.00/SF
− Vacancy
−$2.8K −$2.04/SF
EGI
$38.1K $27.96/SF
− OpEx
−$17.2K −$12.58/SF
NOI
$21.0K $15.38/SF
Area
Paterson, 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 Rate 5%
$419,520
Cap Rate 7%
$299,657
Cap Rate 9%
$233,067
Alternative Uses
Best Use
Apartment 5plus
$299.7K
$262.2K – $349.6K
NOI $20,976 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
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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Frequently Asked Questions
What type of property is this?
Residential income property - The building has forced-air heating, a natural-gas water heater, and a full basement that is unfinished.
Where is this residential income property located?
The property is located at 202 Atlantic St Paterson, NJ.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Two‑story building; Full basement, unfinished; Forced‑air heating with natural gas
