310 Vreeland Ave · Paterson, NJ 07513-1014

$800,000

9 bd · 5.1 ba · — sqft · MultiFamily · 41 Days on market

Built 1930 Fair condition 4,356 sqft lot

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Why this score? — see what drove the C- 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 +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

This spacious three-units brick building sits on a double lot and features a 1 car garage with 2 off street parking spaces offering exceptional value and potential. Each of the three units boasts 3 bedrooms, and spacious living areas. Ideal for strong rental income, live in one unit and receive 2 rents or just rent them all out and collect three rents. The finished basement adds even more versatility, perfect for additional storage, recreation, and other purposes. This property has a double lot and ample outdoor space. Conveniently located near schools, shopping, transportation, and major highways. Easy access to route 80, which takes you straight into NYC through the Washington Bridge in j

Key facts

• Ample outdoor space
• Double lot
• Finished basement

Tags

• DOUBLE LOT
• FINISHED BASEMENT
• AMPLE OUTDOOR SPACE
• STRONG RENTAL INCOME
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Gross rental income reported at $5,400 (total monthly); Net operating income and operating expenses reported as $0 in listing data

Exterior

• Parking: Total 2 parking spaces; Detached 1-car garage; Off-street parking
• Utilities: Electric service available; Natural gas service; Public water; Public sewer
• Home design: Three-story multi-unit building (3 units)
• Construction: Year built listed as approximate
• Exterior features: Brick siding; Asphalt shingle and flat roof

Interior

• Kitchen: Each unit has an eat-in kitchen; Gas range/oven in each unit
• Bedrooms: Unit 1: 3 bedrooms (single level); Unit 2: 3 bedrooms (single level); Unit 3: 3 bedrooms (single level)
• Bathrooms: 5 full bathrooms (total across building); Unit 1: 2 full bathrooms; Unit 2: 1 full bathroom; Unit 3: 1 full bathroom
• Heating & cooling: Three heating units (natural gas); Window air conditioning units
• Interior features: Finished full basement; Carbon monoxide detectors in each unit
• Laundry & utility: Owner pays water for all units

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $800k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive. Per door: $216/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $782k (2.2% below list).
• Recommended offer: $776k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 $30k of equity ($6k loan paydown + $24k 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 $224k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $776,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

No comps found within radius.

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
275-277 19th Ave	0.45mi	9/3.0	—	4mo	$750,000	—	54
632 20th Ave	0.27mi	8/4.0 (-1)	—	17mo	$680,000	—	52
275 19th Ave	0.45mi	8/3.0 (-1)	3,832	4mo	$750,000	$196	50
471-473 E 31st St	0.55mi	8/3.5 (-1)	—	7mo	$715,000	—	44
411-413 E 31st St	0.65mi	8/3.0 (-1)	—	21mo	$515,000	—	26

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: 10.8%
• Equity multiple: 1.62×
• Total profit: $137,836
• Equity at exit: $359,715

10-year hold

• IRR: 13.0%
• Equity multiple: 2.93×
• Total profit: $433,025
• Equity at exit: $554,363

Cash invested: $224,000 (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 07513-1014

• Active inventory: 1
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $7,820 high
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,642
• Net cashflow: $649

Break-even live

Break-even rent $6,998

Max offer price $800,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,202	-5% $926	+0% $649	+5% $373	+10% $96
Rent	-10% $31	-5% $340	+0% $649	+5% $958	+10% $1,267
Rate	-1.0pp $1,052	-0.5pp $853	base $649	+0.5pp $442	+1.0pp $231

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$7,821
Total (3 units)			$7,820

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $800,000 Active 41 DOM
2. 2026-06-18
   days on market $800,000 Active 38 DOM
3. 2026-06-17
   days on market $800,000 Active 37 DOM
4. 2026-06-16
   days on market $800,000 Active 36 DOM
5. 2026-06-15
   days on market $800,000 Active 35 DOM
6. 2026-06-13
   days on market $800,000 Active 33 DOM
7. 2026-06-13
   days on market $800,000 Active 32 DOM
8. 2026-06-09
   days on market $800,000 Active 29 DOM
9. 2026-06-08
   days on market $800,000 Active 28 DOM
10. 2026-06-07
    days on market $800,000 Active 27 DOM
11. 2026-06-04
    days on market $800,000 Active 24 DOM
12. 2026-06-03
    days on market $800,000 Active 23 DOM
13. 2026-06-02
    days on market $800,000 Active 22 DOM
14. 2026-06-01
    days on market $800,000 Active 21 DOM
15. 2026-05-31
    days on market $800,000 Active 20 DOM
16. 2026-05-18
    status Active
17. 2026-04-10
    status Under Contract
18. 2026-03-02
    listed $800,000 Active

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $93,840
• − Mortgage interest: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$4,000
• − Repairs & maintenance: −$7,507
• − Management: −$7,507
• − Depreciation: −$23,273
• Taxable loss: −$5,260
• Est. tax savings @ 24.0%: +$1,262
• After-tax cash flow: $9,052/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

This three-unit brick building requires moderate renovations to improve its exterior, roof, HVAC, and landscaping. These updates will significantly enhance its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Age and potential leaks
• Major HVAC/mechanicals — No visible systems, likely outdated
• Major landscaping — Overgrown vegetation, unkempt appearance

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair roof — Prevents leaks and extends property lifespan
• Both replace HVAC — Improves comfort and energy efficiency
• Both landscape — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Age and potential leaks	Major	$15,000–50,000
HVAC/mechanicals · No visible systems, likely outdated	Major	$15,000–50,000
landscaping · Overgrown vegetation, unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Prevents leaks and extends property lifespan ↑
• Both replace HVAC — Improves comfort and energy efficiency ↑
• Both landscape — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

3 events — show timeline

• 2026-05-18 Relisted — GSMLS
• 2026-04-10 Pending — GSMLS
• 2026-03-02 Listed $800,000 GSMLS