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    Two-Unit Duplex with In-Unit Laundry Title is generated by Realmo AI

    70 Newark Avenue, Paterson, NJ 07503

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    For Sale
    $549,000

    Well-suited for owner occupants or investors, offering two units with in-unit washer and dryer hookups.

    Type:Multi Family / 2-Two Story
    Property size:
    600 SF
    Price / SF:
    $915/SF
    Added:
    May 24, 2026
    Days on Market:
    14
    Last Refresh:
    Jun 6 at 4:29 am

    Property Features for 70 Newark Avenue

    General Information

    Standard status
    Active
    Size
    600 SF
    Property subtype
    Multi Family / 2-Two Story

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    AHMED A. ALI

    Listing agent AHMED A. ALI License #397609

    Listing office TERRIE O'CONNOR REALTORS

    Listing date May 24, 2026

    Source Compass

    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 TERRIE O'CONNOR REALTORS

    HighLights

    • Two‑unit property offering a total of 4 bedrooms and 3 bathrooms
    • Each unit includes washer/dryer hookups, including washer/dryer in the full unfinished basement
    • Full, unfinished basement with its own washer/dryer and a full bathroom
    • Separate utilities for both units
    • Asphalt shingle roof; aluminum siding exterior
    • Year built: 1950; located minutes from Rt 80, Rt 46, and the Garden State Parkway

    Overview

    This duplex offers two residential units totaling 4 bedrooms and 3 bathrooms. Each unit includes its own washer and dryer, with laundry located in the unit and/or basement setup per the property description. The basement is unfinished and includes its own full bathroom and washer/dryer. The property notes that both units have separate utilities, which can simplify day-to-day operations for an owner-occupant or investor, and the units may require some TLC.

    Located at 70 Newark Avenue in Paterson, the property is described as being minutes from major highways including Rt 80, Rt 46, and the Garden State Parkway. The remarks also indicate there are numerous bus stops within short distance, along with street parking available for residents and guests.

    From a tenant fit and operator perspective, this layout can appeal to households seeking separate living arrangements within one property, while still having in-unit laundry convenience. With separate utilities and a straightforward two-unit configuration, the duplex may be a practical option for buyers looking to live in one side and rent the other, or for investors interested in a duplex that can be brought up to standard with light-to-moderate renovation.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1651919
    Latitude
    40.8971466

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    FAQs

    What type of property is this?
    Duplex - Well-suited for owner occupants or investors, offering two units with in-unit washer and dryer hookups.
    Where is this duplex located?
    The property is located at 70 Newark Avenue Paterson, NJ.
    What is the asking price?
    The asking price for this property is $549,000.
    What are key features of this property?
    This property features: Two‑unit property offering a total of 4 bedrooms and 3 bathrooms; Each unit includes washer/dryer hookups, including washer/dryer in the full unfinished basement; Full, unfinished basement with its own washer/dryer and a full bathroom
    (201) 445-4554
    We can help!
    Listing Contact
    AHMED A. ALI
    Real Estate License ID: 397609
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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