Two-Story
For Sale
$598,000
233 Straight St, Paterson, NJ 07501
Multi-Family, 2-Two Story, Paterson City, NJ
Property Size1,804 SF
Lot Size0.07 Acres
Price / SF$331.49
Days on Market148
Property Features for 233 Straight St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Two Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bathroom 1, Basement, Bedroom 6, Bedroom 2, Bedroom 5
Parking
2
Interior features
Fire Extinguisher, Smoke Detector, Wood Floors
Elementary school
D. AVENUE
High school
N.S. WEIR
Directions
Market St. to Straight St.
Standard status
Active
Size
1,804 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9128
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY ONE GROUP LIVING
(201) 636-2280
Listed By:
JAMES R. ROJAS · License #265133
(973) 943-0956
Added: Apr 13
Changed: Sep 7
Last Checked: Sep 7 at 7:06PM
MLS# 4020363
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 1,804-square-foot duplex at 233 Straight St includes six bedrooms, two bathrooms, and a basement. The 1970-built property features wood floors, shingle roofing, baseboard and hot water heating, smoke detectors, and a fire extinguisher. The lot measures 0.07 acres.
Public water and public sewer serve the property. Its Two Family zoning designation aligns with the duplex use, while the two-story configuration provides the primary residential layout.
Public water and public sewer serve the property. Its Two Family zoning designation aligns with the duplex use, while the two-story configuration provides the primary residential layout.
Key Highlights
- 1,804 square feet on a 0.07‑acre lot
- Six bedrooms, two bathrooms, and a basement
- Two Family zoning designation
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
$30,192
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
5.05%
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%
$603,840
$603.8K
Cap Rate 7%
$431,314
$431.3K
Cap Rate 9%
$335,467
$335.5K
Market Conditions
NOI Build-Up for 1,804 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
$46.1K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$43.1K $23.91/SF
− OpEx
−$12.9K −$7.17/SF
NOI
$30.2K $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%
$603,840
Cap Rate 7%
$431,314
Cap Rate 9%
$335,467
Alternative Uses
Best Use
Multifamily LT 5
$431.3K
$377.4K – $503.2K
NOI $30,192 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$396.3K
$346.8K – $462.4K
NOI $27,742 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$471.1K
$412.2K – $549.6K
NOI $32,974 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,560
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family zoning supports the duplex configuration, with public water and sewer service.
Where is this duplex located?
The property is located at 233 Straight St Paterson, NJ.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: 1,804 square feet on a 0.07‑acre lot; Six bedrooms, two bathrooms, and a basement; Two Family zoning designation
