562 Summer St Paterson, NJ 07501
Eastside NeighborhoodEstimated payment $3,671/month
About This Home
Excellent opportunity to own a fully renovated 3-family property in Paterson, NJ! Completely gutted and renovated in 2020, this income-producing property offers peace of mind with major updates already completed, including newer electrical, plumbing, roof, furnaces, and hot water heaters.Each of the three spacious units features 2 bedrooms, a living room, a kitchen, and a full bathroom, providing comfortable layouts that attract quality tenants. The property also offers separate utilities and separate meters, allowing tenants to pay their own gas, electric, heat, and water expenses, maximizing your return on investment.Whether you're looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property is truly a turnkey cash cow with nothing left to do but collect rent. Conveniently located near shopping, schools, public transportation, and major highways.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,207
Year Built
- Built in 1700 | Remodeled
Lot Details
- 2,614 Sq Ft Lot
Parking
- On-Street Parking
Home Design
- Asphalt Shingled Roof
- Aluminum Siding
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Full Bathrooms
Utilities
- Window Unit Cooling System
- Multiple Heating Units
- Standard Electricity
Additional Features
- Unfinished Basement
Listing and Financial Details
- Assessor Parcel Number 2508-06301-0000-00025-0000-
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $7,208 | $429,400 | $86,000 | $343,400 |
| 2025 | $7,208 | $135,100 | $17,500 | $117,600 |
| 2024 | $6,624 | $135,100 | $17,500 | $117,600 |
| 2022 | $6,271 | $135,100 | $17,500 | $117,600 |
| 2021 | $6,047 | $135,100 | $17,500 | $117,600 |
| 2020 | $5,640 | $135,100 | $17,500 | $117,600 |
| 2019 | $5,465 | $132,200 | $17,300 | $114,900 |
| 2018 | $5,637 | $130,300 | $17,200 | $113,100 |
| 2017 | $5,375 | $129,200 | $17,100 | $112,100 |
| 2016 | $5,923 | $136,500 | $18,000 | $118,500 |
| 2015 | $5,607 | $136,500 | $18,000 | $118,500 |
| 2014 | $8,393 | $289,400 | $108,500 | $180,900 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/16/2026 07/16/26 | For Sale | $559,000 | 0.0% | -- | |
| 06/11/2026 06/11/26 | Price Changed | $1,395 | -5.4% | -- | |
| 05/02/2026 05/02/26 | Price Changed | $1,475 | -4.8% | -- | |
| 04/23/2026 04/23/26 | For Rent | $1,550 | 0.0% | -- | |
| 08/14/2019 08/14/19 | Sold | $130,000 | +16.1% | $64 / Sq Ft | View Prior Sale |
| 05/07/2019 05/07/19 | Pending | -- | -- | -- | |
| 04/29/2019 04/29/19 | For Sale | $112,000 | -- | $56 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | -- | None Listed On Document | |
| Deed | $130,000 | All Pro Title Group Llc | |
| Sheriffs Deed | -- | None Available | |
| Deed | $475,000 | -- | |
| Bargain Sale Deed | $145,000 | Chicago Title Insurance Co |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $277,000 | New Conventional | |
| Previous Owner | $280,000 | Commercial | |
| Previous Owner | $238,000 | Construction | |
| Previous Owner | $143,763 | FHA |
Source: Garden State MLS
MLS Number: 4041187
APN: 08-06301-0000-00025
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