Three-Story Residential Income
For Sale
$599,000
53 Henderson St, Paterson, NJ 07501
Partially finished interior space and oil heat shape the building’s existing configuration.
Property Size2,200 SF
Price / SF$272.27
Days on Market103
Property Features for 53 Henderson St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$11,128
Amenities
Oil
Partially Finished
Electric Water Heater
3-Three Story
Building Details
Year Built
1940
Stories
3
Listed By:
DOMINGO MENDEZ
(973) 930-1436
Source:
Evrealestate
Added: Jun 22
Changed: Sep 30
Last Checked: Oct 1 at 11:24AM
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 DOMINGO MENDEZ
Investment Insights
Based on property information with market context.
This three-story residential income property contains 2,200 square feet and was built in 1940. The interior is partially finished, with oil heat and an electric water heater. The property is located at 53 Henderson St in Paterson City, New Jersey; directions indicate access via McBride Ave to Henderson St.
Key Highlights
- Three‑story residential income property
- 2,200 square feet
- Built in 1940
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
$33,832
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
5.65%
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%
$676,640
$676.6K
Cap Rate 7%
$483,314
$483.3K
Cap Rate 9%
$375,911
$375.9K
Market Conditions
NOI Build-Up for 2,200 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
$66.0K $30.00/SF
− Vacancy
−$4.5K −$2.04/SF
EGI
$61.5K $27.96/SF
− OpEx
−$27.7K −$12.58/SF
NOI
$33.8K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$676,640
Cap Rate 7%
$483,314
Cap Rate 9%
$375,911
Alternative Uses
Best Use
Apartment 5plus
$483.3K
$422.9K – $563.9K
NOI $33,832 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.5K
$502.7K – $670.2K
NOI $40,212 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,339
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Partially finished interior space and oil heat shape the building’s existing configuration.
Where is this residential income property located?
The property is located at 53 Henderson St Paterson, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑story residential income property; 2,200 square feet; Built in 1940
