Vacant Two-Unit
For Sale
$548,000
352 Totowa Ave, Paterson, NJ 07502
Multi-Family, 2-Two Story, Paterson City, NJ
Property Size1,476 SF
Lot Size0.06 Acres
Price / SF$371.27
Days on Market19
Property Features for 352 Totowa Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2, Bedroom 4
Interior features
Blinds, Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Directions
Left on to Totowa Avenue from Wayne Avenue
Standard status
Active
Size
1,476 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7773
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
HALO REALTY PROPERTIES LLC
(848) 229-1810
Listed By:
GABRIELLE ROLDAN
(732) 910-4707
Added: Aug 3
Changed: Aug 21
Last Checked: Aug 21 at 6:06PM
MLS# 4044516
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.
Located at 352 Totowa Avenue in Paterson’s Totowa Section, this two-unit residential property contains 1,476 square feet on a 0.06-acre lot. The building includes four bedrooms, two bathrooms, a basement, public water, and public sewer. Interior features include blinds, smoke and carbon monoxide detectors, and a fire extinguisher. Hot-water baseboard heating and a shingle roof serve the property, which was built in 1900.
The property is expected to transfer vacant, allowing an owner to occupy one unit or place tenants in both after closing. Its setting provides access to local shops and restaurants, major highways, the Paterson Great Falls, and the American Dream Mall. The location also offers commuting access toward New York City.
The property is expected to transfer vacant, allowing an owner to occupy one unit or place tenants in both after closing. Its setting provides access to local shops and restaurants, major highways, the Paterson Great Falls, and the American Dream Mall. The location also offers commuting access toward New York City.
Key Highlights
- Two‑unit residential property with 1,476 square feet of building area
- 0.06‑acre lot in Paterson’s Totowa Section
- Delivered vacant at closing for owner occupancy or tenant placement
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
$24,703
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
4.51%
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%
$494,060
$494.1K
Cap Rate 7%
$352,900
$352.9K
Cap Rate 9%
$274,478
$274.5K
Market Conditions
NOI Build-Up for 1,476 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
$37.7K $25.56/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$35.3K $23.91/SF
− OpEx
−$10.6K −$7.17/SF
NOI
$24.7K $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%
$494,060
Cap Rate 7%
$352,900
Cap Rate 9%
$274,478
Alternative Uses
Best Use
Multifamily LT 5
$352.9K
$308.8K – $411.7K
NOI $24,703 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$324.3K
$283.7K – $378.3K
NOI $22,698 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$385.4K
$337.2K – $449.7K
NOI $26,979 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,857
Businesses Nearby
Explore this area
Business Placement
Demographics for 07502, NJ
16,592
Population
4,861
Households
3.4
Avg Household Size
35
Median Age
17%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
18,436
Density / Sq Mi
$68,649
Median Household Income
$32,407
Median Earnings
$1,492
Median Rent
$347,200
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 - Two residential units support owner occupancy or immediate tenant placement after closing.
Where is this duplex located?
The property is located at 352 Totowa Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $548,000.
What are key features of this property?
This property features: Two‑unit residential property with 1,476 square feet of building area; 0.06‑acre lot in Paterson’s Totowa Section; Delivered vacant at closing for owner occupancy or tenant placement
