127 N 5th St
Paterson City, NJ 07522-1330
- 4 beds
- 2 baths
- 1,800 sqft
- 7,405 sqft lot
- $236 per sqft
- 1900 build
- – on site
PRIME INVESTMENT OPPORTUNITY!! This 4-bedroom, 2-bath single-family home sits on a spacious 75x100 lot in Paterson's 1st Ward Redevelopment Zone, offering exceptional redevelopment potential. Investors and developers can fix and flip, convert to multi-family or mixed-use, subdivide or explore all of the above while taking advantage of development incentives, tax credits, and grants available for residential projects. With streamlined approvals, zoning flexibility, and funding opportunities, this property is ideal for 203k buyers, developers, and investors looking to capitalize on Paterson's ongoing revitalization and strong rental demand. Nearby infrastructure improvements, the Great Falls Lofts Project, and public-private partnerships further enhance long-term appreciation potential. Recent renovations to the home have been completed, but the house is being sold as-is, with the buyer responsible for obtaining the Certificate of Occupancy and fire certifications. Conveniently located near Downtown Paterson, major highways, and public transit, this property offers unmatched accessibility in a rapidly growing market. FHA 203K / Cash / Hard Money Financing Only
Last checked:
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Last updated Feb 20, 2025
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MLS# 3946176 —
The Building
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Construction Date/Year Built:1900
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Style:Colonial
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Primary Style:Colonial
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Roof Description:Asphalt Shingle, See Remarks
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Exterior Description:Aluminum Siding
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Color of Building:Yellow
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Basement:Yes
Interior
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Interior Features:Carbon Monoxide Detector, Smoke Detector
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Flooring:Carpeting, Laminate, Wood
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# of Rooms:7
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Level 1 Rooms:1 Bedroom, Bath(s) Other, Dining Room, Kitchen, Laundry Room, Living Room
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Level 2 Rooms:3 Bedrooms, Bath Main
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Kitchen Level:First
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Kitchen Area:Center Island, Country Kitchen, Pantry, Separate Dining Area
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Living Room Level:First
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Dining Room Level:First
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Dining Area:Formal Dining Room
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Basement Description:Unfinished
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Fireplace Description:See Remarks
Financial & Terms
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Possession:Immediately
Location
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Directions:Main St. Drive to N 5th St
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Latitude:40.92855
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Longitude:-74.17436
The Property
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Property Subtype:Single Family
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Approx Lot Size:75 Sqft
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Approx SqFt:1,800 Sqft
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Total Acres:0 Sqft
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Lot Identifier:25
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Zoning:RP-1W
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Exclusions:Personal Items - appliances negotiable
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Easements:Unknown
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Assessment Land:55600
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Assess Amount Land Tax:*
Listing Agent
- Contact info:
- Agent phone:
- (973) 310-7360
- Office phone:
- (973) 310-7360
Taxes
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Tax ID:*
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Tax ID For Property:2508-00503-0000-00025-0000-
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Tax Year:2024
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Tax Year:*
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Tax Rate:*
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Tax Rate Year:2024
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Tax Rate Amount:5.095
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Tax Amount:$8,213
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Tax Amount:$*
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Lot ID Tax:*
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Lot Size Tax:*
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Acres Tax:$*
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Block ID Tax:*
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City Tax:$*
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City Code Tax:*
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County Tax:$*
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County Code Tax:*
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Zip Code Tax:*
Beds
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# of Bedrooms:4
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Bedroom 1 Level:First
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Bedroom 2 Level:Second
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Bedroom 3 Level:Second
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Bedroom 4 Level:Second
Baths
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# of Baths:2.00
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# of Full Baths:2
Heating & Cooling
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Cooling:Window A/C(s)
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Heating:Baseboard - Hotwater
Utilities
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Utilities:Electric, Gas-Natural
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Water:Public Water
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Fuel Type:Gas-Natural
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Sewer:Public Sewer
Appliances
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Appliances:Carbon Monoxide Detector, See Remarks
Schools
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Grade School:NUMBER 12
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Middle Or Junior School:NUMBER 12
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High School:JFK
The Community
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Section/Subdiv/Development:Northside
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Community Living:No
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Assessment Total:161200
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Assessment Total Tax:*
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Assessment Bldg:105600
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Assess Amount Building Tax:*
Parking
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Garage Description:None, On-Street Parking
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Parking/Driveway Description:None, On-Street Parking
Monthly cost estimate
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Asking price
$425,000
Expense | Monthly cost |
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Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$2,275
|
Taxes | N/A |
Insurance | $116 |
Utilities | $225 See report |
Total | $2,616/mo.* |
*This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Sale history
Date | Event | Source | Price | % Change |
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2/16/25
Feb 16, 2025
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Listed / Active | GSMLS | $425,000 |
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71% of nearby similar homes sold for over asking price
Similar homes that sold in bidding wars went $41k above asking price on average, but some went as high as $102k over asking price.