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8 Comps Back $498K Sell Value
Updated 12 days ago
Your Investment Paths
Turnkey Rental
This property shows strong rental potential, with estimated monthly income ranging from $3,236 to $4,309. These figures suggest a healthy market position, offering an attractive gross yield of approximately 9.16% for savvy investors. Leveraging the current market rate of $4,309, this home could provide reliable monthly cash flow. With consistent annual appreciation, this asset serves as a solid addition to any portfolio looking for long-term income stability.
More about this home
Neighborhood Assessment
165-167 E 22nd St sits in Paterson's Riverside neighborhood, an area showing modest recovery with comparable homes ranging from $430K-$560K. The 1,770 sq ft single-family home is priced at $494K ($279/sqft), aligning well with neighborhood comps. School 18 (rated 4) and Rosa Parks Arts High School (rated 5) provide solid educational access. The neighborhood demonstrates mixed stability—recent valuations have fluctuated between $472K-$524K, indicating market volatility typical of urban revitalization corridors. Property taxes run approximately $9K annually.
Market Activity
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Rental Income
$45K
Yield
9.2%
Appreciation
$21K
Year 1 Estimates
Fix-and-Flip
Modern updates increase price per square foot from $308 to $327, a 6% boost in value. These refinements elevate the home, pushing potential sales toward $631,000 and capturing premium rent potential of roughly $4,500 monthly. Refreshing your property creates a competitive edge that appeals to modern buyers. This investment unlocks lasting value and elevates the living experience, making your home a standout choice that commands a higher market position and interest.
Value Add
$34K
Appreciation
$26K
Post Typical Renovation
Buy-Rehab-Rent
This property shows solid BRR potential with a post-renovation value estimated between $571,000 and $631,000. Upgrading the home captures significant market value, turning a standard asset into a high-performing rental with clear equity upside. Annual rental income is projected at $54,108, delivering a strong 9% yield. With reliable monthly cash flow of $4,509 and steady local appreciation, this investment offers a practical path toward building long-term wealth through real estate.
Rental Income
$54K
Yield
9.0%
Appreciation
$26K
Year 1 Estimates, Post Typical Renovation
Estimated value
$494K
$4.5K below comp median
Comparative Market Analysis
$350K – $700K
~299 days to sell
Based on 8 comps
165-167 E 22nd St, Paterson Investment Report: Flip & Rental Analysis · Frontflip