Updated Duplex-Style
61 Sassafras Street Paterson, NJ 07524
61 Sassafras Street, Paterson, NJ, 07524
$499,000
For Sale
$499,000
Recently updated two-unit multifamily includes vinyl plank flooring, stainless-steel appliances, and separate outdoor/deck access.
Property Size1,076 SF
Price / SF$463.75
Days on Market152
Property Features for 61 Sassafras Street
General Information
- Standard status
- Active
- Size
- 1,076 SF
- Property subtype
- Multi Family / 3-Three Story
Building Details
- Year Built
- 1940
Listing agency
HALO REALTY PROPERTIES LLC
(848) 229-1810
Listed by
BRAULIO CESPEDES · License #304544
(848) 229-1810
Source
Compass
Added: Feb 20 Updated: Jul 22 at 1:13AM Checked: Jul 22 at 1:13AM
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 HALO REALTY PROPERTIES LLC
Investment Insights
Based on property information with market context.
This recently updated two-unit multifamily property offers a total of five bedrooms and three full bathrooms. Unit 1 features two bedrooms and one full bath with vinyl plank flooring and stainless-steel appliances, plus direct access to the basement and two bonus rooms for additional living space. Unit 2 is duplex style, spanning two floors with a main level that mirrors Unit 1, including stainless-steel appliances and a refreshed interior. Unit 2 also includes a private deck and direct access to the backyard from the unit.
The property is located on Sassafras Street in the Riverside section of Paterson, an area described in the remarks as being revitalized.
According to the seller’s information, major components have been replaced over the past seven years, supporting ongoing maintenance planning.
The property is located on Sassafras Street in the Riverside section of Paterson, an area described in the remarks as being revitalized.
According to the seller’s information, major components have been replaced over the past seven years, supporting ongoing maintenance planning.
Key Highlights
- Recently updated two‑unit multifamily built in 1940
- Total 5 bedrooms and 3 full bathrooms: Unit 1 has 2BR/1BA
- Unit 1 includes direct basement access plus 2 bonus rooms; partially finished full basement with Bilco‑style door
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 | $27.5k | $25.56 |
| − Vacancy | −$1.8k | −$1.65 |
| EGI | $25.7k | $23.91 |
| − OpEx | −$7.7k | −$7.17 |
| NOI | $18.0k | $16.74 |
1,076 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$257.3K
$225.1K – $300.1K
NOI $18,008 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$236.4K
$206.8K – $275.8K
NOI $16,547 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$281.0K
$245.9K – $327.8K
NOI $19,668 @ 7.0% cap · market cap 3.94%
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 - Recently updated two-unit multifamily includes vinyl plank flooring, stainless-steel appliances, and separate outdoor/deck access.
Where is this duplex located?
The property is located at 61 Sassafras Street Paterson, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Recently updated two‑unit multifamily built in 1940; Total 5 bedrooms and 3 full bathrooms: Unit 1 has 2BR/1BA; Unit 1 includes direct basement access plus 2 bonus rooms; partially finished full basement with Bilco‑style door
