Duplex with Finished Bonus
451 E 31St St 2 Paterson, NJ 07504
451 E 31St St 2, Paterson, NJ, 07504
$750,000
Pending
For Sale
$750,000
Pending
Two-unit multifamily with finished basement and attic bonus areas, plus private yard space with an above-ground pool.
Property Size2,800 SF
Lot Size0.07 Acres
Days on Market75
Property Features for 451 E 31St St 2
General Information
- Standard status
- Pending
- Size
- 2,800 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1700
Listing agency
SIGNATURE REALTY NJ
(973) 921-1111
Listed by
YESENIA ALCIVAR
Source
Elliman
Added: May 9 Updated: Jul 21 at 11:45PM Checked: Jul 22 at 10:09AM
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 SIGNATURE REALTY NJ
Investment Insights
Based on property information with market context.
This spacious duplex-style multifamily property features two units with generous interior layouts. The first floor includes three bedrooms with a living room, dining room, and kitchen, while the second floor offers four bedrooms with living room, dining room, and kitchen. Additional finished bonus spaces include a basement and attic, each with full bathrooms, providing extra flexibility within the overall configuration. A private yard area with an above-ground pool rounds out the exterior.
Located in Paterson’s Eastside section, the property is positioned for everyday convenience with proximity to major highways, public transportation, schools, shopping, and local amenities.
With its two main units and additional finished bonus areas, this property offers a versatile setup for those considering either tenancy flexibility or owner-occupancy while retaining distinct unit living.
Located in Paterson’s Eastside section, the property is positioned for everyday convenience with proximity to major highways, public transportation, schools, shopping, and local amenities.
With its two main units and additional finished bonus areas, this property offers a versatile setup for those considering either tenancy flexibility or owner-occupancy while retaining distinct unit living.
Key Highlights
- 2‑unit multifamily home with finished basement and finished attic bonus areas, each with a full bathroom
- Approximately 2,800+ sq ft of living space on a 3,000 sq ft lot
- First floor layout includes 3 bedrooms plus 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 - Two-unit multifamily with finished basement and attic bonus areas, plus private yard space with an above-ground pool.
Where is this duplex located?
The property is located at 451 E 31St St 2 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: 2‑unit multifamily home with finished basement and finished attic bonus areas, each with a full bathroom; Approximately 2,800+ sq ft of living space on a 3,000 sq ft lot; First floor layout includes 3 bedrooms plus living room, dining room, and kitchen
