Three-Unit Property with Fenced
New
For Sale
$999,999
31 12Th Ave, Paterson, NJ 07501
Multi-Family, 3-Three Story, Paterson City, NJ
Property Size2,864 SF
Lot Size0.06 Acres
Price / SF$349.16
Days on Market1
Property Features for 31 12Th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bedroom 8, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 7, Bedroom 1
Interior features
Intercom
Elementary school
E.W. KILPATRICK
Middle school
HAMILTON
High school
EASTSIDE
Directions
Between Straight St & Rosa Parks Blvd
Standard status
Active
Size
2,864 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1168
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer hookups
private fenced backyard
Building Details
Year built
2022
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY ONE GROUP LEGEND
(973) 772-0660
Listed By:
SAMIR GENID · License #294552
(973) 686-7777
Added: Sep 9
Last Checked: Sep 9 at 7:06PM
MLS# 4051652
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.
Built in 2022, this three-unit multifamily property combines vinyl and brick exterior finishes with high ceilings, large windows, and washer and dryer hookups. The unit mix includes one two-bedroom residence with one full bathroom and two three-bedroom residences, each with two full bathrooms. Central air, forced-air heating, an intercom system, and a shingle roof serve the property, while a private fully fenced backyard provides shared outdoor space.
The property is located in Paterson City near Routes 4, 21, 80, and 3, with NJ Transit bus and train options nearby. Passaic County Community College, restaurants, shopping, parks, and other daily conveniences are also in the surrounding area. Public water and public sewer service the property.
The property is located in Paterson City near Routes 4, 21, 80, and 3, with NJ Transit bus and train options nearby. Passaic County Community College, restaurants, shopping, parks, and other daily conveniences are also in the surrounding area. Public water and public sewer service the property.
Key Highlights
- Three‑unit multifamily property built in 2022
- Unit mix includes one 2‑bedroom and two 3‑bedroom residences
- Private fully fenced backyard
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
$47,932
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
4.79%
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%
$958,640
$958.6K
Cap Rate 7%
$684,743
$684.7K
Cap Rate 9%
$532,578
$532.6K
Market Conditions
NOI Build-Up for 2,864 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
$73.2K $25.56/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$68.5K $23.91/SF
− OpEx
−$20.5K −$7.17/SF
NOI
$47.9K $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%
$958,640
Cap Rate 7%
$684,743
Cap Rate 9%
$532,578
Alternative Uses
Best Use
Multifamily LT 5
$684.7K
$599.2K – $798.9K
NOI $47,932 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$629.2K
$550.5K – $734.1K
NOI $44,043 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$747.8K
$654.4K – $872.5K
NOI $52,349 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,333
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 - 2022-built multifamily property with varied unit layouts, central air, and public utilities in Paterson City.
Where is this triplex located?
The property is located at 31 12Th Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Three‑unit multifamily property built in 2022; Unit mix includes one 2‑bedroom and two 3‑bedroom residences; Private fully fenced backyard
