Duplex with Updated
New
For Sale
$449,999
39 Hillman St, Paterson, NJ 07522
Multi-Family, 2-Two Story, Paterson City, NJ
Property Size1,772 SF
Lot Size0.06 Acres
Price / SF$253.95
Days on Market4
Property Features for 39 Hillman St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Basement, Bedroom 2, Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2
Subdivision
Northside Section
Directions
Please use GPS
Standard status
Active
Size
1,772 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6135
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1892
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE · Keller Williams Realty
(201) 445-4300
Listed By:
LEONARDO TATIS · License #2294805
(201) 906-4570
Added: Sep 29
Last Checked: Oct 2 at 3:06PM
MLS# 4055799
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.
This two-family duplex contains 1,772 square feet on a 0.06-acre parcel. Flooring and finishes have been updated, and the building dates to 1892. Heating is provided by baseboard and hot water systems.
The property is in Paterson’s Northside section, with shopping, transportation, and major roadways described as nearby. Public water and sewer serve the site. The sale is AS-IS, and the property is in a flood zone.
The property is in Paterson’s Northside section, with shopping, transportation, and major roadways described as nearby. Public water and sewer serve the site. The sale is AS-IS, and the property is in a flood zone.
Key Highlights
- 1,772‑square‑foot duplex on a 0.06‑acre lot
- Two‑family configuration with updated flooring and finishes
- Built in 1892
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
$29,657
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
6.59%
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%
$593,140
$593.1K
Cap Rate 7%
$423,671
$423.7K
Cap Rate 9%
$329,522
$329.5K
Market Conditions
NOI Build-Up for 1,772 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
$45.3K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$42.4K $23.91/SF
− OpEx
−$12.7K −$7.17/SF
NOI
$29.7K $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%
$593,140
Cap Rate 7%
$423,671
Cap Rate 9%
$329,522
Alternative Uses
Best Use
Multifamily LT 5
$423.7K
$370.7K – $494.3K
NOI $29,657 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$389.3K
$340.6K – $454.2K
NOI $27,250 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$462.7K
$404.9K – $539.8K
NOI $32,389 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 07522, NJ
23,345
Population
7,440
Households
3.1
Avg Household Size
31
Median Age
10%
College-Educated
77%
High-School Grad
0.9 sq mi
ZIP Area
25,939
Density / Sq Mi
$48,002
Median Household Income
$31,997
Median Earnings
$1,458
Median Rent
$264,000
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?
Duplex - Two residences share a 2-bedroom-style?
Where is this duplex located?
The property is located at 39 Hillman St Paterson, NJ.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: 1,772‑square‑foot duplex on a 0.06‑acre lot; Two‑family configuration with updated flooring and finishes; Built in 1892
