#25015486, Claudio Saavedra, Listing office: United Real Estate
$540,000 List price
532 Summer St Paterson, NJ 07501
5 beds
5 full
Multi-Family
Property details
About 532 Summer St
Investor’s 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 there’s no finished basement and street parking only, the property’s 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 don’t want to miss. Cash flow from day one in a thriving rental market.
Highlights
Home typeMulti Family
StatusActive
MLS #25026128
Summary
- Full Bathrooms: 5
- Total Bedroom Count: 5
- List Price: $540,000
- Annual Tax Amount: $6,422
- Tax Year: 2024
- MLS Number: 25026128
- Office Name: Realty of America LLC
- Office Phone: (833) 256-4244
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Information provided is for consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2025 New Jersey Multiple Listing Service, Inc. All rights reserved.
Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/30/2025, 2:45:31 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Nov 04, 2019 | Home Sold | $170,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $131,000 | $6,422 |
| 2022 | $131,000 | $5,863 |
| 2021 | $131,000 | $5,863 |
| 2020 | $131,000 | $5,291 |
| 2019 | $128,000 | $5,291 |
History based on county public records data.
Nearby schools
3
Philip's Academy Charter School of Paterson
Public Charter KG-4
0.1 mi
•47 State St
3
School 15
Public District PK-5
0.2 mi
•98 Oak St
3
Roberto Clemente
Public District KG-5
0.4 mi
•434 Rosa Parks Blvd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $21,575. Most Paterson, NJ residents have annual incomes less than $<35k. The most common type of family is single, no kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
72%
<35k
22%
35k-100k
4%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
45%
Single, No Kids
29%
Single, with Kids
11%
Married, No Kids
15%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
17%
<11 yrs old
9%
12-17 yrs old
27%
18-34 yrs old
39%
35-64 yrs old
8%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Mexican League Soccer
Major League Soccer (MLS)
Where do the neighbors shop?
H&M
Foot Locker
Burlington
Where do the neighbors go to eat?
Boston Market
Little Caesars
White Castle
What do the neighbors drive?
Honda
Dodge
Kia
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
Similar homes for sale
#25007851, Naeem K. Boucher, Listing office: EXP Realty, LLC
#3961185, Listing office: FORMULA REALTY LLC
3 days on Rocket
#3977570, Listing office: REAL
#3975337, Listing office: EXP REALTY, LLC
3 hours on Rocket
#25026896, Jennifer Pickett, Listing office: Compass New Jersey, LLC-Montclair
3 days on Rocket
#3977680, Listing office: COMPASS NEW JERSEY LLC
#25023659, Mordy Abelesz, Listing office: EXP Realty, LLC
#25025255, Claribel Villalona, Listing office: Realty One Group Prodigy
#25008130, Stanley E. Francois, Listing office: Realty One Group Sunrise
Frequently asked questions
About 532 Summer St
The listing price of 532 Summer St property is $540,000.
The property 532 Summer St is a multi located in Paterson, New Jersey, 07501.
Active Listing: 532 Summer St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 532 Summer St are: Philip's Academy Charter School of Paterson (GreatSchools Rating 3/10), School 15 (GreatSchools Rating 3/10), Roberto Clemente (GreatSchools Rating 3/10), New Roberto Clemente (GreatSchools Rating 1/10), School 3 (GreatSchools Rating 3/10), School 16 (GreatSchools Rating 3/10), School of Earth and Space Science (GreatSchools Rating 2/10), School of Health Science (GreatSchools Rating 1/10), International High School (GreatSchools Rating 3/10).
According to the records, the last property tax for 2024 is $6,422 (source: MLS/based on county public records data).
The last sale was on November 4, 2019 for $170,000 (source: MLS/tax record).
This home is located at 532 Summer St in Paterson, NJ and zip code 07501 in the People's Park neighborhood. Features: 5 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since July 24, 2025 and is currently priced at $540,000.
The inventory of homes for sale in Paterson, NJ between May and June 2025 increased by 25.9%. The median list price of listings available in June 2025 was $499,900, while the average time on the real estate market was 80 days.
From Rocket Homes Real Estate and based on county public records data.