Triplex with Renovated Attic
For Sale
$800,000
256 Van Houten St, Paterson, NJ 07501
Multi-Family, 3-Three Story, Paterson City, NJ
Property Size2,458 SF
Lot Size0.06 Acres
Price / SF$325.47
Days on Market115
Property Features for 256 Van Houten St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Basement, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 7, Bedroom 2, Bathroom 4, Bedroom 8, Bathroom 3, Bedroom 9, Bedroom 5
Security features
Security System
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Security System, Vinyl-Linoleum Floors, Wood Floors
Directions
Auburn st to Van Houten
Standard status
Active
Size
2,458 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12841
Utilities
Heating system
Other (Heating), Hot Water(Heating)
Water source
Public
Amenities
backyard
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
REAL
(855) 450-0442
Listed By:
REBECCA PRINGLE · License #293315
(201) 894-8004
Added: May 21
Changed: Sep 5
Last Checked: Sep 12 at 2:06AM
MLS# 4030154
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 2,458-square-foot triplex, built in 1900, includes three levels of residential accommodation. The first-floor unit offers three bedrooms and two bathrooms. The second floor is arranged as two separate living spaces, while the attic contains a recently renovated one-bedroom unit. Interior features include wood and vinyl-linoleum flooring, a security system, carbon monoxide detectors, and fire extinguishers.
The property occupies 0.06 acres and includes a backyard that can be shared by occupants. Building systems have been updated, the furnaces receive annual service, and four new water heaters were installed in 2025. The attic renovation is identified as completed in 2026. Public water service and a shingle roof are also in place.
The property occupies 0.06 acres and includes a backyard that can be shared by occupants. Building systems have been updated, the furnaces receive annual service, and four new water heaters were installed in 2025. The attic renovation is identified as completed in 2026. Public water service and a shingle roof are also in place.
Key Highlights
- 2,458 square feet on a 0.06‑acre lot
- Triplex with three residential levels and a recently renovated attic unit
- First‑floor unit includes 3 bedrooms and 2 bathrooms
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
$41,138
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
5.14%
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%
$822,760
$822.8K
Cap Rate 7%
$587,686
$587.7K
Cap Rate 9%
$457,089
$457.1K
Market Conditions
NOI Build-Up for 2,458 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
$62.8K $25.56/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$58.8K $23.91/SF
− OpEx
−$17.6K −$7.17/SF
NOI
$41.1K $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%
$822,760
Cap Rate 7%
$587,686
Cap Rate 9%
$457,089
Alternative Uses
Best Use
Multifamily LT 5
$587.7K
$514.2K – $685.6K
NOI $41,138 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$540.0K
$472.5K – $630.0K
NOI $37,799 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$641.8K
$561.6K – $748.8K
NOI $44,928 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully rented multifamily property with updated systems, multiple living spaces, and a shared backyard.
Where is this triplex located?
The property is located at 256 Van Houten St Paterson, NJ.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,458 square feet on a 0.06‑acre lot; Triplex with three residential levels and a recently renovated attic unit; First‑floor unit includes 3 bedrooms and 2 bathrooms
