One-Story Residential Income
For Sale
$374,999
Pending
62 Highland St, Paterson, NJ 07524
One-story residential income property with natural gas service and full walk-out access.
Property Size2,000 SF
Days on Market72
Property Features for 62 Highland St
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,463
Amenities
Natural Gas
Full, Walk-Out Access
Gas Water Heater
1-One Story
Building Details
Year Built
1900
Stories
1
Listing Agency:
Keller Williams Realty Village Square
Listed By:
ANTHONY ZITO · License #1329596
(201) 803-3510
Source:
Evrealestate
Added: Aug 3
Changed: Oct 10
Last Checked: Oct 12 at 7:19PM
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 Keller Williams Realty Village Square
Investment Insights
Based on property information with market context.
This one-story residential income property was built in 1900 and includes natural gas service, a gas water heater, and full walk-out access. The property is located at 62 Highland St in Paterson City, New Jersey, with access from May Street to Highland Street. Passaic County location.
Key Highlights
- One‑story residential income property
- Built in 1900
- Natural gas service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,756
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,120
$615.1K
Cap Rate 7%
$439,371
$439.4K
Cap Rate 9%
$341,733
$341.7K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$60.0K $30.00/SF
− Vacancy
−$4.1K −$2.04/SF
EGI
$55.9K $27.96/SF
− OpEx
−$25.2K −$12.58/SF
NOI
$30.8K $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 Rate 5%
$615,120
Cap Rate 7%
$439,371
Cap Rate 9%
$341,733
Alternative Uses
Best Use
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,564
Businesses Nearby
Explore this area
Business Placement
Demographics for 07524, NJ
14,130
Population
4,670
Households
3
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
0.8 sq mi
ZIP Area
17,663
Density / Sq Mi
$50,033
Median Household Income
$31,934
Median Earnings
$1,386
Median Rent
$360,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-story residential income property with natural gas service and full walk-out access.
Where is this residential income property located?
The property is located at 62 Highland St Paterson, NJ.
What is the asking price?
The asking price for this property is $374,999.
What are key features of this property?
This property features: One‑story residential income property; Built in 1900; Natural gas service
