532 Summer St Paterson, NJ 07501
Eastside NeighborhoodEstimated payment $3,358/month
About This Home
Investorâ€TMs dream! This legal 2-family property in Paterson is a high-yield, cash-flowing opportunity w/ no certificate of occupancy required a rare advantage for savvy investors. The 1st floor features 2 studio units, each w/ its own bathroom. The 2nd floor mirrors the layout with 2 more private studio suites, & a finished attic adds a 5th bonus studio unit. Currently generating $6,100/monin cash rental income with no formal leases, this asset offers immediate returns and flexibility. Two units rent at $1,300 each, two at $1,200, & one at $1,100. With annual taxes at $6,310 and insurance at $4,500, this investment maintains a strong profit margin. While thereâ€TMs no finished basement and street parking only, the propertyâ€TMs location in a high-demand rental area makes it a reliable earner with room to grow. Whether you're building your first portfolio or adding another gem to your collection, this is an opportunity you donâ€TMt want to miss. Cash flow from day one in a thriving rental market.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,310
Lot Details
- 1,873 Sq Ft Lot
Home Design
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Full Bathrooms
Listing and Financial Details
- Legal Lot and Block 29 / 6302
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $6,674 | $131,000 | $18,900 | $112,100 |
| 2024 | $6,423 | $131,000 | $18,900 | $112,100 |
| 2022 | $6,081 | $131,000 | $18,900 | $112,100 |
| 2021 | $5,864 | $131,000 | $18,900 | $112,100 |
| 2020 | $5,469 | $131,000 | $18,900 | $112,100 |
| 2019 | $5,292 | $128,000 | $18,600 | $109,400 |
| 2018 | $5,459 | $126,200 | $18,500 | $107,700 |
| 2017 | $5,208 | $125,200 | $18,400 | $106,800 |
| 2016 | $5,741 | $132,300 | $19,400 | $112,900 |
| 2015 | $5,435 | $132,300 | $19,400 | $112,900 |
| 2014 | $6,830 | $235,500 | $105,200 | $130,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/22/2025 10/22/25 | Pending | -- | -- | -- | |
| 09/18/2025 09/18/25 | Off Market | $540,000 | -- | -- | |
| 07/18/2025 07/18/25 | For Sale | $540,000 | +217.6% | -- | |
| 10/18/2019 10/18/19 | Sold | $170,000 | 0.0% | $100 / Sq Ft | View Prior Sale |
| 08/09/2019 08/09/19 | Pending | -- | -- | -- | |
| 04/29/2019 04/29/19 | For Sale | $170,000 | -- | $100 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $170,000 | Integra Title & Abstract Llc | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $269,500 | Construction |
Source: New Jersey MLS
MLS Number: 25026128
APN: 08-06302-0000-00029
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