Two-Story Residential Income
For Sale
$775,000
94 22Nd Ave, Paterson, NJ 07513
The finished building has electric and natural gas service.
Property Size1,440 SF
Price / SF$538.19
Days on Market12
Property Features for 94 22Nd Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,712
Amenities
Electric, Natural Gas
Finished
2-Two Story
Building Details
Year Built
1950
Stories
2
Listed By:
MARIA SALGADO RAMOS
(201) 952-9227
Source:
Evrealestate
Added: Oct 2
Changed: Oct 13
Last Checked: Oct 12 at 7:41PM
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 MARIA SALGADO RAMOS
Investment Insights
Based on property information with market context.
Built in 1950, this two-story residential income property has finished interior space and electric and natural gas service. It is located at 94 22nd Ave in Paterson City, Passaic County, New Jersey.
Key Highlights
- Two‑story building
- Built in 1950
- Finished interior space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,144
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,880
$442.9K
Cap Rate 7%
$316,343
$316.3K
Cap Rate 9%
$246,044
$246.0K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$43.2K $30.00/SF
− Vacancy
−$2.9K −$2.04/SF
EGI
$40.3K $27.96/SF
− OpEx
−$18.1K −$12.58/SF
NOI
$22.1K $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%
$442,880
Cap Rate 7%
$316,343
Cap Rate 9%
$246,044
Alternative Uses
Best Use
Apartment 5plus
$316.3K
$276.8K – $369.1K
NOI $22,144 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,321 @ 7.0% cap · market cap 3.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,691
Businesses Nearby
Explore this area
Business Placement
Demographics for 07513, NJ
11,995
Population
3,299
Households
3.6
Avg Household Size
35
Median Age
12%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
19,992
Density / Sq Mi
$64,320
Median Household Income
$34,274
Median Earnings
$1,606
Median Rent
$387,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - The finished building has electric and natural gas service.
Where is this residential income property located?
The property is located at 94 22Nd Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two‑story building; Built in 1950; Finished interior space
