Two-Story Residential Income
For Sale
$548,000
Pending
352 Totowa Ave, Paterson, NJ 07502
Two-story property with natural-gas baseboard heating and a full unfinished basement.
Property Size1,476 SF
Days on Market37
Property Features for 352 Totowa Ave
General Information
Standard status
Pending
Size
1,476 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,773
Amenities
Baseboard, Natural Gas
Full, Unfinished
2-Two Story
Building Details
Building Size
1,476 SF
Year Built
1900
Stories
2
Listed By:
GABRIELLE ROLDAN
(201) 448-6528
Source:
Evrealestate
Added: Aug 3
Changed: Sep 4
Last Checked: Sep 4 at 3:42AM
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 GABRIELLE ROLDAN
Investment Insights
Based on property information with market context.
This two-story residential income property was built in 1900 and includes baseboard heating powered by natural gas. The interior also features a full, unfinished basement, providing additional lower-level space within the existing structure.
The property is located at 352 Totowa Ave in Paterson City, Passaic County, New Jersey. Access directions reference Totowa Avenue from Wayne Avenue. The recorded property size is 1476.
The property is located at 352 Totowa Ave in Paterson City, Passaic County, New Jersey. Access directions reference Totowa Avenue from Wayne Avenue. The recorded property size is 1476.
Key Highlights
- Two‑story residential income property
- Built in 1900
- Baseboard heating with natural gas
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
$22,698
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
4.14%
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%
$453,960
$454.0K
Cap Rate 7%
$324,257
$324.3K
Cap Rate 9%
$252,200
$252.2K
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
$44.3K $30.00/SF
− Vacancy
−$3.0K −$2.04/SF
EGI
$41.3K $27.96/SF
− OpEx
−$18.6K −$12.58/SF
NOI
$22.7K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$453,960
Cap Rate 7%
$324,257
Cap Rate 9%
$252,200
Alternative Uses
Best Use
Apartment 5plus
$324.3K
$283.7K – $378.3K
NOI $22,698 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-story property with natural-gas baseboard heating and a full unfinished basement.
Where is this residential income property 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‑story residential income property; Built in 1900; Baseboard heating with natural gas
