Duplex With Two-Car
New
For Sale
$860,000
395 E 23Rd St, Paterson, NJ 07514
Two upper-level residences each include a kitchen, formal dining room, three bedrooms, and two full bathrooms.
Property Size3,000 SF
Price / SF$286.67
Days on Market2
Property Features for 395 E 23Rd St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,667
Building Details
Year Built
2019
Buildings
1
Stories
3
Units
2
Listing Agency:
EXP REALTY, LLC
Listed By:
HUGO MEZA · License #276489
(973) 771-5995
Source:
Elliman
Added: Oct 23
Last Checked: Oct 23 at 5:20PM
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 EXP REALTY, LLC
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Investment Insights
Based on property information with market context.
Constructed in 2019, this duplex contains approximately 3,000 square feet of living space. The first- and second-floor residences each have a living room, formal dining room, kitchen, three bedrooms, and two full bathrooms; each also includes a primary bedroom with a private bath.
At ground level, additional space comprises a summer eat-in kitchen, a living room, two other rooms, and a full bathroom. A two-car garage is also included. The property is located in Paterson, New Jersey.
At ground level, additional space comprises a summer eat-in kitchen, a living room, two other rooms, and a full bathroom. A two-car garage is also included. The property is located in Paterson, New Jersey.
Key Highlights
- Built in 2019
- Approximately 3,000 sq. ft. of living space
- Two upper‑floor residences, each with three bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,209
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,004,180
$1.0M
Cap Rate 7%
$717,271
$717.3K
Cap Rate 9%
$557,878
$557.9K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$76.7K $25.56/SF
− Vacancy
−$5.0K −$1.65/SF
EGI
$71.7K $23.91/SF
− OpEx
−$21.5K −$7.17/SF
NOI
$50.2K $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 Rate 5%
$1,004,180
Cap Rate 7%
$717,271
Cap Rate 9%
$557,878
Alternative Uses
Best Use
Multifamily LT 5
$717.3K
$627.6K – $836.8K
NOI $50,209 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,134 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,669
Businesses Nearby
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Business Placement
Demographics for 07514, NJ
19,200
Population
6,752
Households
2.8
Avg Household Size
37
Median Age
12%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
21,333
Density / Sq Mi
$65,492
Median Household Income
$34,962
Median Earnings
$1,472
Median Rent
$314,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two upper-level residences each include a kitchen, formal dining room, three bedrooms, and two full bathrooms.
Where is this duplex located?
The property is located at 395 E 23Rd St Paterson, NJ.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Built in 2019; Approximately 3,000 sq. ft. of living space; Two upper‑floor residences, each with three bedrooms and two full bathrooms
