Two-Story Residential Income
For Sale
$845,000
377 Ellison Street, Paterson, NJ 07501
Built in 1950 with central air, forced-air heating, and natural gas service.
Property Size3,240 SF
Price / SF$260.80
Days on Market376
Property Features for 377 Ellison Street
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$11,850
Amenities
Ceiling Fan(s), Central Air
Forced Air, Natural Gas
Finished, Full
2-Two Story
Building Details
Year Built
1950
Stories
2
Listing Agency:
Weichert Realtors, Kinnelon
Listed By:
NATALI PALLERO · License #307956
(201) 620-4403
Source:
Evrealestate
Added: Oct 13, 2025
Changed: Oct 2
Last Checked: Oct 23 at 7:19AM
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 Weichert Realtors, Kinnelon
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Investment Insights
Based on property information with market context.
This two-story residential income property at 377 Ellison Street in Paterson City, New Jersey, was built in 1950. The home includes central air, ceiling fans, forced-air heating, and natural gas service. Finished interior space and a full-level area are also identified in the property features.
The property is located in Passaic County and is addressed on Ellison Street in Paterson City. Its two-story configuration and established construction date provide the primary physical characteristics documented for the asset.
The property is located in Passaic County and is addressed on Ellison Street in Paterson City. Its two-story configuration and established construction date provide the primary physical characteristics documented for the asset.
Key Highlights
- Two‑story residential income property
- Built in 1950
- Central air and ceiling fans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,825
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,500
$996.5K
Cap Rate 7%
$711,786
$711.8K
Cap Rate 9%
$553,611
$553.6K
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$97.2K $30.00/SF
− Vacancy
−$6.6K −$2.04/SF
EGI
$90.6K $27.96/SF
− OpEx
−$40.8K −$12.58/SF
NOI
$49.8K $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 Rate 5%
$996,500
Cap Rate 7%
$711,786
Cap Rate 9%
$553,611
Alternative Uses
Best Use
Apartment 5plus
$711.8K
$622.8K – $830.4K
NOI $49,825 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$846.0K
$740.3K – $987.0K
NOI $59,222 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,246
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1950 with central air, forced-air heating, and natural gas service.
Where is this residential income property located?
The property is located at 377 Ellison Street Paterson, NJ.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Two‑story residential income property; Built in 1950; Central air and ceiling fans
