Two-Story Multifamily with Bonus
For Sale
$750,000
Pending
451 E 31St St, Paterson, NJ 07504
MULTI_FAMILY - Paterson City, NJ
Property Size2,800 SF
Lot Size0.07 Acres
Days on Market108
Property Features for 451 E 31St St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Full 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)
Lot features
Level Lot
Directions
VREEELAND AVE TO 19TH AVE TO E. 31st / 18th AVE TO TO E. 31st
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
Listed By:
YESENIA ALCIVAR
(908) 656-1650
Added: Apr 14
Changed: Jul 13
Last Checked: Jul 30 at 4:06PM
MLS# 4020694
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
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 authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,562
Businesses Nearby
Explore this area
Business Placement
Demographics for 07504, NJ
13,413
Population
4,105
Households
3.3
Avg Household Size
36
Median Age
18%
College-Educated
85%
High-School Grad
0.8 sq mi
ZIP Area
16,766
Density / Sq Mi
$67,269
Median Household Income
$37,024
Median Earnings
$1,426
Median Rent
$369,600
Median Home Value
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 - 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
