59 Mercer St, Paterson, NJ, 07524
About This Home
Experience the pinnacle of modern investment with this rare, totally rebuilt 2024 three-family masterpiece. Each of the three expansive units has been meticulously designed for the sophisticated renter, featuring soaring high ceilings, a generous three-bedroom, two-full-bath layout, and the essential comfort of central air conditioning throughout. Every residence is a study in contemporary luxury, boasting premium finishes and the ultimate convenience of dedicated in-unit laundry, ensuring these apartments command top-tier market rents. For the savvy investor, this property offers an exceptional turnkey opportunity with excellent existing rental income and significant upside potential. The financial appeal is further enhanced by extremely low taxes, creating an incredible high-margin investment with minimal overhead. Its location is a commuter's dream, situated moments away from major NYC transportation hubs and primary highways, ensuring a consistent and high-quality tenant pool. Whether you are looking to occupy one unit and have your mortgage paid or add a pristine, low-maintenance asset to your portfolio, this 2024 build represents an unrivaled opportunity in today's competitive market.
Getting Around
Very Walkable
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 2024
Materials
- Roof: Asphalt Shingle
- Construction materials: Aluminum Siding,Stucco
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: Laundry Room
Basement
- Has basement: Yes
- Basement: Yes,Crawl Space
Bedrooms & Bathrooms
- Bedrooms: 9
- Bathrooms: 6
- Full bathrooms: 6
Features
- Bedrooms,Kitchen,Living Room
Heating & Cooling
- Heating features: 3 Units,Forced Air,Natural Gas
- Cooling features: 3 Units,Central Air
Interior Area
- Total structure area: 29,997
- Total interior livable area: 29,997 sqft
Property
Details
- Parcel number: 2508030090000000010000
Features
- Levels: 3-Three Story
- Stories: 3
Lot
- Lot size: 2,178 sqft
- Lot size dimensions: 25 x 94
Parking
- Total spaces: 1
- Parking features: See Remarks,Detached Garage
- Has garage: Yes
- Attached garage spaces: 1
- Covered spaces: 1
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
- Inland Flooding
- Strong Wind
- Winter Weather
- Cold Wave
- Heat Wave
- Lightning
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 | $4,019 | $48,228 |
| Home Insurance * | $464 | $5,568 |
| Property Taxes | $1,497 | $17,964 |
| Electricity | $3,306 | $39,680 |
| Total | $9,286 | $111,432 |
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)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-11 | Pending sale | $795,000 |
| 2026-06-17 | Price change | $795,000 |
| 2026-05-27 | Listed for sale | $825,000 |
| 2026-05-26 | Listing removed | $825,000 |
| 2026-05-04 | Pending sale | $825,000 |
| 2026-03-24 | Listed for sale | $825,000 |
| 2025-08-04 | Listing removed | $2,450 |
| 2025-07-09 | Price change | $2,450 |
| 2025-06-02 | Price change | $2,550 |
| 2025-05-13 | Listed for rent | $2,600 |
| 2025-01-20 | Listing removed | $2,500 |
| 2025-01-15 | Price change | $2,500 |
| 2024-12-12 | Listed for rent | $2,650 |
| 2024-07-24 | Sold | $675,000 |
| 2024-07-17 | Pending sale | $699,000 |
| 2024-06-26 | Price change | $699,000 |
| 2023-12-21 | Pending sale | $665,000 |
| 2023-12-06 | Listed for sale | $665,000 |
| 2014-06-16 | Sold | $95,000 |
| 2014-03-21 | Listed for sale | $115,000 |
| 1980-11-07 | Sold | $36,000 |
For Sale by Agent
View on Zillow