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.
Active
Price cut: $20K (8/5)
$539,000
562 Summer St, Paterson City, NJ 07501
6beds
--sqft
Multi Family
Built in 1700
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Newer electricalThree spacious units
- 29 days |
- 445 |
- 22 |
Zillow last checked:
Listing updated:
Listed by:
Hugo Meza 866-201-6210,
Exp Realty, Llc
Source: GSMLS,MLS#: 4041187
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Heating
- 3 Units, Electric, Natural Gas
Cooling
- Window Unit(s)
Features
- Bedrooms, Kitchen, Living Room, See Remarks
- Basement: Yes,Unfinished
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Parking
- Parking features: On Street, On-Street Parking
- Has uncovered spaces: Yes
Features
- Levels: 3-Three Story
- Stories: 3
Lot
- Size: 2,613 Square Feet
- Dimensions: 25 x 100
Details
- Parcel number: 2508063010000000250000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Aluminum Siding
- Roof: Asphalt Shingle
Condition
- Year built: 1700
- Major remodel year: 2020
Utilities & green energy
- Gas: Gas In Street
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Gas In Street
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Carbon Monoxide Detector, Fire Extinguisher
Location
- Region: Paterson
Financial & listing details
- Tax assessed value: $429,400
- Annual tax amount: $7,207
- Date on market: 7/16/2026
- Total actual rent: 3085
- Tenant pays: Electricity, Gas, Tenant Pays Heat, Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Water
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/5/2026 | Price change | $539,000-3.6% |
Source:  GSMLS #4041187 Report a problem | ||
| 7/16/2026 | Listed for sale | $559,000+330% |
Source:  NJMLS #26026840 Report a problem | ||
| 6/10/2026 | Price change | $1,395-5.4% |
Source:  GSMLS #4016088 Report a problem | ||
| 5/1/2026 | Price change | $1,475-4.8% |
Source: GSMLS #4016088 Report a problem | ||
| 3/23/2026 | Listed for rent | $1,550-15.1% |
Source: GSMLS #4016088 Report a problem | ||
| 2/4/2025 | Listing removed | $1,825 |
Source: GSMLS #3935942 Report a problem | ||
| 1/3/2025 | Listed for rent | $1,825 |
Source: GSMLS #3935942 Report a problem | ||
| 8/14/2019 | Sold | $130,000+16.1% |
Source: GSMLS #3552081 Report a problem | ||
| 5/14/2019 | Listing removed | $112,000 |
Source: CENTURY 21 Preferred Realty, Inc. #3552081 Report a problem | ||
| 5/1/2019 | Listed for sale | $112,000+60.2% |
Source: CENTURY 21 Preferred Realty, Inc #3552081 Report a problem | ||
| 11/15/2017 | Listing removed | -- |
Source: Auction.com Report a problem | ||
| 11/14/2017 | Listed for sale | -- |
Source: Auction.com Report a problem | ||
| 1/22/2016 | Listing removed | $69,900 |
Source: NICHOLAS REAL ESTATE AGENCY #3193815 Report a problem | ||
| 12/9/2015 | Listed for sale | $69,900 |
Source: NICHOLAS REAL ESTATE AGENCY #3193815 Report a problem | ||
| 4/22/2015 | Listing removed | $69,900 |
Source: Nicholas Real Estate Agency #3193815 Report a problem | ||
| 10/23/2014 | Listed for sale | $69,900-12.5% |
Source: Nicholas Real Estate #3004376 Report a problem | ||
| 6/2/2012 | Listing removed | $79,900 |
Source: Nicholas Real Estate #2894959 Report a problem | ||
| 5/2/2012 | Listed for sale | $79,900-83.2% |
Source: Nicholas Real Estate #2894959 Report a problem | ||
| 3/3/2003 | Sold | $475,000+227.6% |
Source: Public Record Report a problem | ||
| 9/10/1999 | Sold | $145,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | -- | $135,100 |
| 2023 | $6,508 +7.6% | $135,100 |
| 2022 | $6,047 | $135,100 |
| 2021 | $6,047 +10.6% | $135,100 |
| 2020 | $5,465 -3% | $135,100 +2.2% |
| 2019 | $5,637 +4.9% | $132,200 +1.5% |
| 2018 | $5,375 -9.3% | $130,300 +0.9% |
| 2017 | $5,923 +5.6% | $129,200 -5.3% |
| 2016 | $5,607 -33.2% | $136,500 |
| 2015 | $8,393 +5.7% | $136,500 -52.8% |
| 2014 | $7,941 +9.1% | $289,400 |
| 2013 | $7,278 | $289,400 |
| 2012 | $7,278 +18.3% | $289,400 |
| 2011 | $6,153 +10.1% | $289,400 |
| 2010 | $5,588 | $289,400 |
| 2009 | -- | $289,400 |
| 2008 | -- | $289,400 |
| 2007 | -- | $289,400 +2709.7% |
| 2006 | -- | $10,300 |
| 2005 | -- | $10,300 |
| 2004 | -- | $10,300 |
| 2003 | -- | $10,300 |
| 2002 | -- | $10,300 |
| 2001 | -- | $10,300 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Sandy Hill
Nearby schools
GreatSchools rating
- 3/10School 15Grades: PK-5Distance: 0.3 mi
- NASchool 11 (Newcomers)Grades: 3-11Distance: 0.4 mi
- 2/10New Roberto Clemente SchoolGrades: 6-8Distance: 0.4 mi
- $--2 bd1 ba-- sqft562 Summer St APT 1, Paterson, NJ 07501Off Market
- $--2 bd1 ba-- sqft562 Summer St APT 3, Paterson, NJ 07501Off Market
- $530,700-- bd-- ba2.6k sqft564 Summer St, Paterson, NJ 07501Off Market
- $106,900-- bd-- ba1.3k sqft551-553 Summer St, Paterson, NJ 07501Off Market
- $299,4003 bd-- ba-- sqft551-553 Summer St #1, Paterson, NJ 07501Off Market
- $299,4003 bd-- ba-- sqft551-553 Summer St #2, Paterson, NJ 07501Off Market
- $226,9001 bd-- ba-- sqft551-553 Summer St #3, Paterson, NJ 07501Off Market
- $277,6002 bd-- ba-- sqft551-553 Summer St #4, Paterson, NJ 07501Off Market
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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