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Paterson 07502
5 Salem Rd
$450,000
● House - Off Market

5 Salem Rd

Paterson City, NJ 07502
bedrooms
3 Beds
bathrooms
1.1 Baths
$429,424
RealtyHop Estimate
6.03%
Since Jul 1, 2022
NY-New York
Primary Model
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1950

Payment Calculator

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 years ago (GSMLS #3776914)

Price History

Date / Event Date Event Price
Jun 3, 2022 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,380
  • Lot Size Depth Feet: 1,450
  • Lot Size Frontage Feet: 440
  • Total Building Area: 1,501
  • Building Area: 1,501
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,501
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000146
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Paterson City School District
  • Census Tract: 180201

Geography

  • District: 08
  • Parcel: 08 01001-0000-00007
  • Block: 1001
  • Lot: 7
  • Municipality: PATERSON CITY
  • Latitude: 40.9238
  • Longitude: -74.1941

    Address

  • Full Address: 5 Salem Rd
  • Address - House Number: 5
  • Address - Street Name: Salem
  • Address - Suffix Type: Rd
  • State: NJ
  • City Name: Paterson
  • Carrier Code: C061
  • 4-Digit Zip Code: 1410
  • Zip Code: 07502

Valuation

    Tax

  • Tax Year: 2021
  • Tax Amount: $1,020,976

    Appraisal Valuation

  • Standard Deviation: 0.1979
  • Valuation Date: Dec 07, 2022
  • Confidence Score: 73
  • Final Value: 451,514
  • High Value: 540,908
  • Low Value: 362,121

    Market Valuation

  • Market Total Value: $228,100
  • Market Land Value: $73,500
  • Market Improvement Value: $154,600

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $228,100
  • Assessed Land Value: $73,500
  • Assessed Improvements Value: $154,600

    Sales

  • Current Sale Contract Date: Jul 01, 2022
  • Current Sale Recording Date: Jul 08, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 34549
  • Previous Sale Recording Date: Apr 21, 2017
  • Previous Sale Contract Date: Mar 31, 2017
  • Previous Sale Amount: $258,000
  • Previous Sale Document Type: 12
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Paterson

Stats & Trends

Median Asking:

$565,000

Sale Price/ft²

$290

Below Asking

0.01%

Average Days on Market

83

Average Home Size

420 ft²

Average Home Age

0.5 years

Currently For Sale

253 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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GSMLS

Last Updated: 4 years ago
Data Source: GSMLS, MLS# 3776914
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 5 Salem Road built and last sold?
The property at 5 Salem Road was built in 1950 and last sold on Jul 1, 2022 for $450,000.
How much is this home worth?
The estimated value of the home located at 5 Salem Road is $0.
What are some comparable homes to 5 Salem Road?
There are currently no comparable homes to 5 Salem Road.
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