Two-Family Duplex with Separate
New
For Sale
$679,900
242 Graham Ave, Paterson, NJ 07501
Central heating and air conditioning serve both residences, with separate utility services for each.
Property Size2,500 SF
Price / SF$271.96
Days on Market3
Property Features for 242 Graham Ave
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
central heating and air conditioning
Building Details
Year Built
2021
Buildings
1
Tenancy
Single
Listing Agency:
ACCESS HOME REALTY
Listed By:
MARIA CARMONA VIDAL · License #2322540
(201) 766-2565
Source:
Luminancerealty
Added: Sep 30
Last Checked: Oct 1 at 4:52PM
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 ACCESS HOME REALTY
Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains two residences with a combined 8 bedrooms and 4.5 bathrooms. Both units have central heating and air conditioning, and utility services are separately metered. The property is described as well maintained, including its interior, exterior, and roof.
The second-floor residence is vacant. The first-floor unit is occupied under a month-to-month lease, providing current rental income. For an owner-occupant, the seller may issue the tenant a notice to vacate after contractual contingencies are satisfied; the sale cannot require delivery of the property vacant.
The second-floor residence is vacant. The first-floor unit is occupied under a month-to-month lease, providing current rental income. For an owner-occupant, the seller may issue the tenant a notice to vacate after contractual contingencies are satisfied; the sale cannot require delivery of the property vacant.
Key Highlights
- Two‑family property built in 2021
- 8 bedrooms and 4.5 bathrooms across both units
- Separate utilities for each residence
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
$41,840
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
6.15%
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%
$836,800
$836.8K
Cap Rate 7%
$597,714
$597.7K
Cap Rate 9%
$464,889
$464.9K
Market Conditions
NOI Build-Up for 2,500 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
$63.9K $25.56/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$59.8K $23.91/SF
− OpEx
−$17.9K −$7.17/SF
NOI
$41.8K $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%
$836,800
Cap Rate 7%
$597,714
Cap Rate 9%
$464,889
Alternative Uses
Best Use
Multifamily LT 5
$597.7K
$523.0K – $697.3K
NOI $41,840 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$549.2K
$480.6K – $640.8K
NOI $38,445 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,696 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,226
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
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Frequently Asked Questions
What type of property is this?
Duplex - Central heating and air conditioning serve both residences, with separate utility services for each.
Where is this duplex located?
The property is located at 242 Graham Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Two‑family property built in 2021; 8 bedrooms and 4.5 bathrooms across both units; Separate utilities for each residence
