2-Unit Duplex with Full
New
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 Market3
Property Features for 202 Atlantic St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Basement
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
(201) 445-4300
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 12:06PM
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 = 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
$22,828
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
5.38%
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%
$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
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
$34.9K $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 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%
$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
Property Profile
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
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 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
