Active

$899,000

247 Hope Ave, Passaic City, NJ 07055

8beds

--sqft

$6,544/mo

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Multi Family

Built in 2025

-- sqft lot

$896,800 Zestimate^®

$--/sqft

$-- HOA

What's special

Desirable settingGenerous lot sizeLarge two-family home

Discover the Possibilities and unlock the exceptional potential of this Large Two Family home on an Oversized Lot 75 x 125. The very large two-family home generates $7,000 in gross monthly rental income. Collect strong cash flow while you explore future opportunities to possible subdivide -(see attached licensed appraisal for lot 37.5 x 100) or redevelopment - making this an ideal prospect for investors, builders, and visionaries. The existing two-family is being sold strictly as-is and any future development, buyer is responsible to acquire the necessary approvals. With its generous lot size and desirable setting, the possibilities are wide-open for those ready to create something special. A unique chance to combine income today with potential for more profit tomorrow. Don't miss it.

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 4
Full bathrooms: 4

Heating

2 Units, Forced Air, Natural Gas

Cooling

2 Units, Central Air

Appliances

Included: Dishwasher, Dryer, Range/Oven - Gas, Refrigerator, Washer, Gas Water Heater

Features

Bedrooms, Eat-in Kitchen, Living Room, See Remarks, Storage, Eat-In Kitchen
Basement: Yes,Finished,Walk-Out Access
Has fireplace: No

Interior area

Total structure area: 0

Property

Parking

Parking features: On Street

Lot

Size: 9,583 Square Feet
Dimensions: 75 x 125

Details

Parcel number: 2507040980000000270000

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

See Remarks
Roof: Asphalt Shingle

Condition

Year built: 2025

Utilities & green energy

Gas: Gas-Natural
Sewer: Public Sewer
Water: Public
Utilities for property: Electricity Connected, Natural Gas Connected

Community & HOA

Location

Region: Passaic

Financial & listing details

Tax assessed value: $364,100
Annual tax amount: $15,503
Date on market: 9/4/2026
Total actual rent: 7000
Tenant pays: Electricity, Gas, Tenant Pays Heat, Tenant Pays Electric, Tenant Pays Gas
Electric utility on property: Yes

Estimated market value

$896,800

$852,000 - $942,000

$2,648/mo

Price history

Date	Event	Price
9/4/2026	Listed for sale	$899,000+5.8%
Source: GSMLS #4050592 Report a problem
4/27/2026	Listing removed	$849,999
Source: NJMLS #26004967 Report a problem
3/12/2026	Listed for sale	$849,999
Source: GSMLS #4009662 Report a problem
2/20/2026	Listing removed	$849,999
Source: GSMLS #4009662 Report a problem
2/13/2026	Listed for sale	$849,999
Source: GSMLS #4009662 Report a problem
2/13/2026	Listing removed	$849,999
Source: GSMLS #3984366 Report a problem
9/2/2025	Listed for sale	$849,999+197.2%
Source: GSMLS #3984366 Report a problem
7/11/2016	Sold	$286,000
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$15,012 +3%	$364,100
2024	$14,579	$364,100
2023	$14,579 +3.9%	$364,100
2022	$14,025 +2.4%	$364,100
2021	$13,690 +2.3%	$364,100
2020	$13,388 +2.2%	$364,100
2019	$13,100 +3.2%	$364,100
2018	$12,696 +5.7%	$364,100
2017	$12,013 -0.4%	$364,100
2016	$12,056 +1.9%	$364,100 +124.1%
2015	$11,830 +1.7%	$162,500
2014	$11,634 +3.9%	$162,500
2012	$11,198 +0.6%	$162,500
2011	$11,126 +12.2%	$162,500
2010	$9,917	$162,500
2009	--	$162,500
2008	--	$162,500
2007	--	$162,500
2006	--	$162,500
2005	--	$162,500
2004	--	$162,500
2003	--	$162,500
2002	--	$162,500
2001	--	$162,500