Two-Family Colonial
For Sale
$399,000
55 N 6th St, Paterson, NJ 07522
Two kitchens and separate living and dining rooms support a two-household layout.
Property Size2,076 SF
Price / SF$192.20
Days on Market61
Property Features for 55 N 6th St
General Information
Standard status
Active
Size
2,076 SF
Property subtype
Multi Family Home
Property Condition
Severity
Repairs Needed
Evidence
Updates are needed
Additional Details
Multifamily Units
2
Building Details
Building Size
2,076 SF
Year Built
1939
Buildings
1
Units
2
Construction
Colonial
Listing Agency:
J. Michaels Realty, Oradell
Listed By:
Omar Fernandez
(201) 918-3555
Source:
Culturaunitedrealty
Added: Aug 25
Changed: Oct 23
Last Checked: Oct 23 at 4:08PM
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 J. Michaels Realty, Oradell
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Investment Insights
Based on property information with market context.
This 1939 Colonial duplex contains approximately 2,076 square feet, arranged as two family residences. The property has 6 bedrooms, 2 full bathrooms, 2 kitchens, 2 living rooms, and 2 dining rooms. Basement and finished attic areas add to the building’s existing space. Updates are needed, and the interior offers scope for renovation and customization.
Key Highlights
- Two‑family Colonial configuration
- Approximately 2,076 square feet with 6 bedrooms
- Two kitchens, 2 living rooms, and 2 dining rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,744
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,880
$694.9K
Cap Rate 7%
$496,343
$496.3K
Cap Rate 9%
$386,044
$386.0K
Market Conditions
NOI Build-Up for 2,076 SF
Gross rent
$53.1K $25.56/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.6K $23.91/SF
− OpEx
−$14.9K −$7.17/SF
NOI
$34.7K $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%
$694,880
Cap Rate 7%
$496,343
Cap Rate 9%
$386,044
Alternative Uses
Best Use
Multifamily LT 5
$496.3K
$434.3K – $579.1K
NOI $34,744 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$456.1K
$399.1K – $532.1K
NOI $31,925 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$542.1K
$474.3K – $632.4K
NOI $37,946 @ 7.0% cap · market cap 9.51%
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
1,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 07522, NJ
23,345
Population
7,440
Households
3.1
Avg Household Size
31
Median Age
10%
College-Educated
77%
High-School Grad
0.9 sq mi
ZIP Area
25,939
Density / Sq Mi
$48,002
Median Household Income
$31,997
Median Earnings
$1,458
Median Rent
$264,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two kitchens and separate living and dining rooms support a two-household layout.
Where is this duplex located?
The property is located at 55 N 6th St Paterson, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑family Colonial configuration; Approximately 2,076 square feet with 6 bedrooms; Two kitchens, 2 living rooms, and 2 dining rooms
