56 Passaic St, Garfield, NJ, 07026
About This Home
Situated in Garfield's redeveloped and sought-after “Restaurant Row†district, 56 Passaic St. is a fully leased two-unit residential property featuring 2 two bedroom units and has potential for commercial conversion usage. Endless developer potential. This property includes 3 parking spots in the rear and is just one block from the train station and offers easy access to the Parkway, Route 46, and Route 80. This is a rare opportunity to acquire an income-generating asset in a high-demand area. Property is located in an opportunity zone and is sold as-is. The owner holds a New Jersey Real Estate License.
Getting Around
Very Walkable
Good Transit
BikeableSchools
Construction
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: In Basement
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Property
Details
- Parcel number: 2100011000000005
Parking
- Total spaces: 3
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Cold Wave
- Heat Wave
- Inland Flooding
- Lightning
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across New Jersey Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,539 | $42,468 |
| Home Insurance * | $200 | $2,400 |
| Property Taxes | $1,102 | $13,224 |
| Electricity | $193 | $2,318 |
| Total | $5,034 | $60,408 |
Income You'd Need if You Spent...
New Jersey FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2025-10-19 | Listed for sale | $724,999 |
| 2025-10-01 | Listing removed | $699,999 |
| 2025-06-07 | Price change | $699,999 |
| 2025-04-13 | Listed for sale | $799,999 |
| 2023-11-15 | Sold | $445,000 |
| 1998-09-21 | Sold | $99,000 |
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