54 N 3rd St · Paterson, NJ 07522-1356

$650,000

8 bd · 4.0 ba · — sqft · MultiFamily · 136 Days on market

4,791 sqft lot ↓ 7% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Recently Renovated "Four Family Home" Fully Rented - Residentially Located - Features Hardwood Floors, Central Air & much more - Low Property Taxes

Key facts

• Low property taxes
• Recently renovated
• Central air

Tags

• RECENTLY RENOVATED
• HARDWOOD FLOORS
• CENTRAL AIR
• LOW PROPERTY TAXES

Property features AI

Finance

• Other: Owner/tenant payment arrangements: owner pays water; tenants pay gas, heat, and water
• Financial info: Property is a 4-unit multifamily building; Total units: 4; Reported net operating income: 0; Reported gross operating income: 0; Reported total operating expenses: 0

Exterior

• Parking: Parking/driveway and garage details: see remarks
• Security: Carbon monoxide detectors and smoke detectors in each unit
• Utilities: Garbage included; Natural gas service; Public sewer; Public water
• Home design: Three-story unit style; Property renovated in 2020
• Construction: Vinyl siding; Asphalt shingle roof; Property noted as renovated
• Exterior features: Sidewalk; Level lot

Interior

• Kitchen: Each unit includes a gas range/oven
• Bedrooms: Unit 1: 3 bedrooms (1 level); Unit 2: 2 bedrooms (2 levels); Unit 3: 2 bedrooms (3 levels); Unit 4: 2 bedrooms
• Flooring: Tile and wood floors
• Bathrooms: Four full bathrooms across the property; Unit 1: 1 bath; Unit 2: 1 bath; Unit 3: 1 bath; Unit 4: 1 bath
• Heating & cooling: Four heating units; Natural gas heating; Cooling: see remarks
• Interior features: Blinds; Carbon monoxide detector; Smoke detector; Tile floors; Wood floors; Gas water heater
• Laundry & utility: Tenant pays heat and gas in each unit; owner pays water for all units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $650k).
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.5% in Paterson — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#293 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: schools D, employment D, crime F.
• Paterson Public School District (suburban): math 6% / reading 26% proficiency, ranked #458 of 472 in NJ (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 860 units permitted in Passaic County in 2024 (614 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($4k loan paydown + $20k appreciation (3.0% local appreciation)).
• Passaic County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $182k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.

Recommended offer $572,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.78%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
76 Arch St	0.14mi	7/3.0 (-1)	—	6mo	$560,000	—	67
40-42 9th St	0.32mi	8/5.0	—	4mo	$775,000	—	65
123-125 Belmont Ave	0.31mi	9/5.0 (+1)	—	2mo	$950,000	—	62
186-188 Carbon St	0.48mi	8/4.0	—	4mo	$710,000	—	62
117-121 Holsman St	0.48mi	8/4.0	—	4mo	$640,000	—	62
245 7th St	0.44mi	8/3.0	—	8mo	$635,000	—	56
150 Redwood Ave	0.58mi	8/4.0	—	6mo	$590,000	—	56
50 Albion Ave	0.55mi	7/3.0 (-1)	—	1mo	$770,000	—	52
48 Jasper St	0.46mi	9/3.0 (+1)	—	8mo	$640,000	—	50
100 Albion Ave	0.58mi	9/4.0 (+1)	—	7mo	$615,000	—	50
26-28 Bergen St	0.52mi	8/2.0	—	7mo	$380,000	—	49
76-78 Lafayette St	0.68mi	7/3.0 (-1)	—	7mo	$675,000	—	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 2.22×
• Total profit: $221,222
• Equity at exit: $292,268

10-year hold

• IRR: 22.4%
• Equity multiple: 4.23×
• Total profit: $587,691
• Equity at exit: $450,420

Cash invested: $182,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07522-1356

• Active inventory: 1
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $8,524 high
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,790
• Net cashflow: $2,242

Break-even live

Break-even rent $5,686

Max offer price $650,000

Occupancy floor 69%

Sensitivity live

Price	-10% $2,691	-5% $2,467	+0% $2,242	+5% $2,017	+10% $1,793
Rent	-10% $1,569	-5% $1,905	+0% $2,242	+5% $2,579	+10% $2,915
Rate	-1.0pp $2,569	-0.5pp $2,407	base $2,242	+0.5pp $2,074	+1.0pp $1,902

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,524
Total (4 units)			$8,524

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $650,000 Active 136 DOM
2. 2026-06-18
   days on market $650,000 Active 133 DOM
3. 2026-06-17
   days on market $650,000 Active 132 DOM
4. 2026-06-16
   days on market $650,000 Active 131 DOM
5. 2026-06-15
   days on market $650,000 Active 130 DOM
6. 2026-06-13
   days on market $650,000 Active 128 DOM
7. 2026-06-13
   days on market $650,000 Active 127 DOM
8. 2026-06-09
   days on market $650,000 Active 124 DOM
9. 2026-06-08
   days on market $650,000 Active 123 DOM
10. 2026-06-07
    days on market $650,000 Active 122 DOM
11. 2026-06-04
    days on market $650,000 Active 119 DOM
12. 2026-06-03
    days on market $650,000 Active 118 DOM
13. 2026-06-02
    days on market $650,000 Active 117 DOM
14. 2026-06-01
    days on market $650,000 Active 116 DOM
15. 2026-05-31
    days on market $650,000 Active 115 DOM
16. 2026-04-16
    price $650,000
17. 2026-04-02
    price $675,000
18. 2026-02-05
    listed $700,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $102,288
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$8,183
• − Management: −$8,183
• − Depreciation: −$18,909
• Taxable income: $17,603
• Est. tax owed @ 24.0%: −$4,225
• After-tax cash flow: $22,679/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Paterson Public School District
• NCES district ID: 3412690
• Math proficiency: 6% ▼ -12.00%
• Reading proficiency: 26% ▼ -4.00%
• Median HH income: $34,365
• Composite: 13.02/100
• National rank: #9568
• State rank: #458 of 472 in NJ

Livability — Paterson

• Score: 69/100
• State rank: #293
• US rank: #8763

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment D Housing C+ Health & safety A User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paterson, NJ

Population outlook (Passaic County) Hauer SSP2

• Today (2025): 525,915 people
• By 2030: 532,160 · +1.2%
• By 2040: 543,670 · +3.4%
• By 2050: 554,326 · +5.4%
• By 2075: 584,728 · +11.2%
• By 2100: 598,978 · +13.9%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

-7.1% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $650,000 GSMLS
• 2026-04-02 Price Changed $675,000 GSMLS
• 2026-02-05 Listed $700,000 GSMLS