Two-Unit Duplex with
For Sale
$289,999
257 Progress St, Riverside, NJ 08075
Separate utilities, private laundry areas, and a shared backyard support distinct residential layouts.
Property Size1,522 SF
Price / SF$190.54
Days on Market50
Property Features for 257 Progress St
General Information
Standard status
Active
Size
1,522 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
basement storage
on-site laundry
shared backyard
Building Details
Year Built
1920
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty - Moorestown
Listed By:
Patricia E Pomeranz · License #9231492
(856) 235-1950
Source:
Soldbypattie
Added: Aug 26
Changed: Oct 7
Last Checked: Oct 12 at 9:13PM
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 Keller Williams Realty - Moorestown
Investment Insights
Based on property information with market context.
This 1,522-square-foot duplex contains two rented residences with different configurations. The first-floor unit offers 1 bedroom and 1 bathroom, along with a living room, dining area, equipped kitchen, full-basement access, storage, and private laundry facilities. The second-floor unit includes 2 bedrooms and 1 bathroom, a large living room, formal dining area, kitchen, and an in-unit washer and dryer.
The property also provides access to a shared backyard, while separate utilities distinguish the two residences. A recently replaced sewer line adds to the property’s updated infrastructure. Two rear garages are included and are reached from Sylvan Street. The property is within walking distance of shopping, schools, and transportation, with additional access to two income-producing garage spaces.
The property also provides access to a shared backyard, while separate utilities distinguish the two residences. A recently replaced sewer line adds to the property’s updated infrastructure. Two rear garages are included and are reached from Sylvan Street. The property is within walking distance of shopping, schools, and transportation, with additional access to two income-producing garage spaces.
Key Highlights
- 1,522‑square‑foot duplex with 1‑bedroom and 2‑bedroom units
- First‑floor unit includes full‑basement access, storage, and private laundry facilities
- Second‑floor residence has 2 bedrooms, 1 bathroom, and an in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,472
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,440
$509.4K
Cap Rate 7%
$363,886
$363.9K
Cap Rate 9%
$283,022
$283.0K
Market Conditions
NOI Build-Up for 1,522 SF
Gross rent
$38.9K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$36.4K $23.91/SF
− OpEx
−$10.9K −$7.17/SF
NOI
$25.5K $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 Rate 5%
$509,440
Cap Rate 7%
$363,886
Cap Rate 9%
$283,022
Alternative Uses
Best Use
Multifamily LT 5
$363.9K
$318.4K – $424.5K
NOI $25,472 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$334.4K
$292.6K – $390.1K
NOI $23,405 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$397.4K
$347.8K – $463.7K
NOI $27,820 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 08075, NJ
30,327
Population
12,092
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,063
Density / Sq Mi
$94,576
Median Household Income
$47,979
Median Earnings
$1,427
Median Rent
$288,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities, private laundry areas, and a shared backyard support distinct residential layouts.
Where is this duplex located?
The property is located at 257 Progress St Riverside, NJ.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: 1,522‑square‑foot duplex with 1‑bedroom and 2‑bedroom units; First‑floor unit includes full‑basement access, storage, and private laundry facilities; Second‑floor residence has 2 bedrooms, 1 bathroom, and an in‑unit washer and dryer
