Three-Unit Residential Income
256 Van Houten St Paterson, NJ 07501
For Sale
$899,000
MULTI_FAMILY - Paterson City, NJ
Property Size2,458 SF
Lot Size0.06 Acres
Price / SF$365.74
Days on Market69
Property Features for 256 Van Houten St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
5
Rooms
Bedroom 6, Bedroom 9, Bathroom 1, Bedroom 7, Bathroom 2, Bathroom 4, Bathroom 5, Bedroom 4, Bedroom 2, Bedroom 5, Basement, Bedroom 1, Bathroom 3, Bedroom 8, Bedroom 3
Security features
Security System
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Security System, Vinyl-Linoleum Floors, Wood Floors
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
Hot Water(Heating), Other (Heating)
Water source
Public
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
Added: May 21
Changed: Jul 23
Last Checked: Jul 28 at 11:06PM
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 three-unit residential income property is described as spacious and well maintained, with all units currently rented. The first floor features 3 bedrooms and 2 bathrooms. The second-floor unit has been divided into 2 separate living spaces. A third unit located in the attic was recently renovated and is offered as a 1-bedroom layout.
Updates include renovated attic work completed in 2026 and updated systems throughout. The property also notes 4 new water heaters installed in 2025, with furnaces serviced yearly. Outside, there is a nice backyard that can be shared by residents.
The offering is located at 256 Van Houten St in Paterson City, Passaic County, New Jersey 07501-2008.
Updates include renovated attic work completed in 2026 and updated systems throughout. The property also notes 4 new water heaters installed in 2025, with furnaces serviced yearly. Outside, there is a nice backyard that can be shared by residents.
The offering is located at 256 Van Houten St in Paterson City, Passaic County, New Jersey 07501-2008.
Key Highlights
- Fully rented multifamily with positive cash flow
- 1st floor unit offers 3 bedrooms and 2 bathrooms
- 2nd floor unit was divided into 2 separate living spaces
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.8k | $25.56 |
| − Vacancy | −$4.1k | −$1.65 |
| EGI | $58.8k | $23.91 |
| − OpEx | −$17.6k | −$7.17 |
| NOI | $41.1k | $16.74 |
2,458 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$587.7K
$514.2K – $685.6K
NOI $41,138 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$540.0K
$472.5K – $630.0K
NOI $37,799 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$641.8K
$561.6K – $748.8K
NOI $44,928 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Well maintained, fully rented three-unit building with a renovated attic one-bedroom unit and updated mechanical systems.
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 $899,000.
What are key features of this property?
This property features: Fully rented multifamily with positive cash flow; 1st floor unit offers 3 bedrooms and 2 bathrooms; 2nd floor unit was divided into 2 separate living spaces
