Two-Story Multifamily with Bonus
451 E 31St St Paterson, NJ 07504
451 E 31St St, Paterson, NJ, 07504
$750,000
Pending
For Sale
$750,000
Pending
MULTI_FAMILY - Paterson City, NJ
Property Size2,800 SF
Lot Size0.07 Acres
Days on Market95
Property Features for 451 E 31St St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 4
- Rooms
- Bedroom 8, Bedroom 9, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 6, Bedroom 3, Bedroom 4, Basement, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 7, Bathroom 1
- Parking
- 1
- Interior features
- Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors
- Exterior features
- Sidewalk, Storm Door(s)
- Standard status
- Pending
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12153
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1700
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
SERHANT NEW JERSEY LLC
(973) 315-5959
830 MORRIS TURNPIKE SUITE 487, Short Hills, NJ
Listed by
YESENIA ALCIVAR
(908) 656-1650
Added: Apr 14 Checked: Jul 17 at 11:06 pm
MLS# 4020694
Listing URL
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 multifamily property is configured with two primary units and two additional bonus spaces, combining finished basement and finished attic areas that each include full bathrooms. The first floor features three bedrooms along with a living room, dining room, and kitchen. The second floor offers four bedrooms with a living room, dining room, and kitchen. A private yard includes an above-ground pool.
The property is located in Paterson’s Eastside section, with access to major highways and public transportation, as well as nearby schools, shopping, and local amenities.
The property is located in Paterson’s Eastside section, with access to major highways and public transportation, as well as nearby schools, shopping, and local amenities.
Key Highlights
- Multifamily home with 2 units plus 2 bonus units in Paterson’s Eastside section
- Approximately 2,800+ sq ft of living space on a 3,000 sq ft lot
- 1st floor layout: 3 bedrooms with living room, dining room, and kitchen
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.6k | $25.56 |
| − Vacancy | −$4.6k | −$1.65 |
| EGI | $66.9k | $23.91 |
| − OpEx | −$20.1k | −$7.17 |
| NOI | $46.9k | $16.74 |
2,800 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$669.4K
$585.8K – $781.0K
NOI $46,861 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$615.1K
$538.2K – $717.6K
NOI $43,058 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$731.1K
$639.8K – $853.0K
NOI $51,180 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Multifamily property with two main units plus finished basement and attic bonus spaces with full bathrooms.
Where is this duplex located?
The property is located at 451 E 31St St Paterson, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Multifamily home with 2 units plus 2 bonus units in Paterson’s Eastside section; Approximately 2,800+ sq ft of living space on a 3,000 sq ft lot; 1st floor layout: 3 bedrooms with living room, dining room, and kitchen
