Paterson City Homes under $500,000

Welcome to Paterson City, New Jersey—an urban gem nestled in Passaic County, rich in history and cultural diversity. Known for its stunning natural beauty, Paterson is home to the magnificent Great Falls, one of the largest waterfalls in the U.S., which serves as a breathtaking backdrop for outdoor activities and community events.

This vibrant city boasts a rich tapestry of neighborhoods, each with its unique charm and character. From historic brownstones to modern townhomes, Paterson offers a variety of housing options, making it an attractive destination for first-time homebuyers and families alike. Best of all, you can find beautiful homes under $500,000, making homeownership in this bustling city more accessible than ever.

Paterson is not only known for its scenic views but also for its strong sense of community. Residents enjoy a plethora of parks, recreational facilities, and cultural experiences, including theaters, museums, and diverse dining options that reflect the city’s multicultural heritage. The city’s convenient location provides easy access to major highways and public transportation, making commuting to nearby cities like New York City a breeze.

Whether you’re looking to invest, settle down, or simply explore, Paterson City offers a welcoming atmosphere and a wealth of opportunities. Discover your dream home in this dynamic city and become part of a community that celebrates both its rich history and vibrant future. Embrace the charm of Paterson City—your new home awaits!

Newest Paterson City Homes under $500,000

$479,900

6 Beds ⋅ 2 Baths ⋅ 4060476 MLS

Great investment opportunity in an urban location! This two-family home offers two spacious units, each featuring 3 bedrooms. An excellent opportunity for an investor or owner-occupant looking to build equity and maximize potential. Conveniently located near local amenities, transportation, and shopping.

270 Hamilton Ave, Paterson City

$200,000

1 Beds ⋅ 1 Baths ⋅ 4060459 MLS

Welcome to 245 Edmund Avenue, Unit 3, in Paterson! This 1-bedroom, 1-bath condominium offers approximately 717 sq. ft. of comfortable, single-level living space. The unit features a living room, dining area, kitchen equipped with a refrigerator, electric range, and microwave, plus a primary bedroom and full bathroom. A standout feature is the convenience of 2 assigned parking spaces. The HOA fee includes water and garbage services, and pets are permitted. Conveniently located near shopping, schools, and public transportation, this condo is a great opportunity for buyers seeking comfortable, low-maintenance living. Schedule your showing today!

245 Edmund Ave, Paterson City

$499,000

3 Beds ⋅ 2.1 Baths ⋅ 4060242 MLS

Your chance to own this beautifully maintained single-unit home has arrived! Offering 3 bedrooms and 2.5 bathrooms, it features gleaming hardwood floors throughout and a full basement with plenty of room for storage, a home gym, or whatever you need. Step outside to an enclosed patio, a wooden deck, and a private yard, ideal for morning coffee, weekend barbecues, or simply unwinding after a long day. With two garages plus an additional parking space, you'll never worry about where to park. Move-in ready and full of charm, this one won't last. Schedule your showing today!

430 E 28Th St, Paterson City

$460,000

3 Beds ⋅ 2.1 Baths ⋅ 4059736 MLS

Welcome to this fully renovated ranch, updated in 2020, featuring 3 bedrooms, 3 bathrooms, a front porch, and a backyard. The open concept layout includes a modern kitchen with stainless steel appliances and laminate flooring. The second-floor primary suite offers a private full bathroom. The fully finished basement provides additional living and recreational space, including a private side entrance. Additional features include central air conditioning and a convenient location near Anthony Lucas Park, local schools, and NYC transportation.

87 E 17Th St, Paterson City

$159,000

1 Beds ⋅ 1 Baths ⋅ 4059647 MLS

NYC-Style Living with Exceptional Amenities! Enjoy the convenience and comfort of this impressive building featuring 24/7 doorman service, a deeded parking space, elevator, large outdoor pool with sun deck and grill, fitness center, community room, and on-site laundry. The spacious open floor plan offers a kitchen, living room, dining area, bedroom, full bath, and walk-in closets, all complemented by beautiful sunset views. All utilities are included, adding to the value and convenience. Whether you're looking to stop renting and own your own home or seeking an investment opportunity, this property is worth a look. Close to major highways, shopping and restaurants. Selling "as-is"Please note: The building is non-warrantable.

39 E 39Th St., 7G, Paterson City

$360,000

4 Beds ⋅ 2 Baths ⋅ 4059065 MLS

11 N Bridge St, Paterson City

$230,000

1 Beds ⋅ 1 Baths ⋅ 4058430 MLS

Welcome to this bright and spacious corner loft-style condo in the desirable Hillcrest section of Paterson, NJ! This 1-bedroom, 1-bathroom home offers approximately 1,100 square feet of comfortable living space. Located on the 3rd floor, this corner-unit loft features large windows with excellent natural sunlight exposure, creating a warm and inviting atmosphere. Enjoy the convenience of central air and heat, elevator access, and a pet-friendly building. The property also allows you to rent the unit for market value, and includes one deeded parking space, providing added convenience and value. With its open loft-style layout, generous living space, abundant natural light, and desirable amenities its the perfect unit to call home.

105 Marion St, Paterson City

$379,999

4 Beds ⋅ 2.1 Baths ⋅ 4057980 MLS

Welcome to this two-family home, offering two bedrooms and one full bath on each level. The first floor features beautiful hardwood floors, while the second floor offers additional living space with an enclosed porch. The finished attic provides two separate rooms, offering excellent flexibility for a home office, guest space, storage, or additional living area. Enjoy the privacy of a fenced-in yard, perfect for outdoor entertaining or relaxing. A newer roof adds peace of mind, and the convenient location is close to transportation, making commuting a breeze. This is a great opportunity for an owner-occupant or investor!

580 Madison Ave, Paterson City

$499,000

4 Beds ⋅ 3 Baths ⋅ 4057602 MLS

Excellent opportunity to own a two-family property in a convenient downtown location near the train station. The property features two separate units, one on the first floor and one on the second floor, each offering 2 bedrooms and 1 full bath, along with a fully finished basement providing valuable additional space. The property currently produces a total rent roll of $5,000 per month. All tenants are on month-to-month leases, providing added flexibility for a buyer who may want to occupy one of the units while continuing to collect rental income from the other. Well suited for both an owner-occupant looking to offset housing costs and an investor seeking an income-producing property, this two-family offers a flexible layout, established rental income, and a strong downtown location with convenient access to transportation, shopping, dining, and the train station. This property also qualifies for a low down payment, low interest rate loan as well as down payment assistance for first time buyers. Call the listing office now for more details.

14 Pearl St, Paterson City

$469,900

5 Beds ⋅ 3 Baths ⋅ 4056877 MLS

2-Unit Multi-Family with Strong Cash Flow & Upside Potential. This income-producing 2-family property offers immediate rental income with additional upside in a convenient location. The building includes three separate units: a 3-bedroom, 1-bath first-floor unit, a 2-bedroom, 1-bath second-floor unit, and a finished 2-bedroom, 1-bath basement apartment ideal for maximizing rental potential. The basement unit adds further income potential, making this a strong opportunity for investors seeking both cash flow and future growth.Each unit features a functional living and kitchen layout, with refrigerators and microwaves included. The basement unit benefits from its own split AC system, while upper units utilize window units. There is no on-site parking, with street parking available, and a shared backyard area offers outdoor space for tenants. Whether you're expanding your portfolio or looking for a multi-unit with built-in upside, this property delivers a compelling mix of current income, tenant stability, and value-add potential.

94 Manchester Ave, Paterson City

$399,000

5 Beds ⋅ 1 Baths ⋅ 4057307 MLS

Welcome to this spacious single-family home located on Paterson?s desirable East Side! Offering an impressive amount of living space, this home is filled with potential and ready for its next owner to bring their vision to life. Features include a huge yard, generously sized rooms, and hardwood floors believed to be under the existing carpeting. The home does need updating, TLC, and a new heating system, making it a great opportunity for buyers looking to customize a property to their taste. With its size, location, and possibilities, this home is a true diamond in the rough!

362 E 30Th St, Paterson City

$342,500

2 Beds ⋅ 2 Baths ⋅ 4057354 MLS

Move -in ready, ground-floor unit in sought-after Garret Heights with amazing mountain and skyline views! Features an eat-in kitchen, newer oven and microwave (2023) and breakfast bar. Formal Dining Room with sliders to private patio, where you can experience breath-taking views. Cozy Living Room with wood burning fireplace, spacious Primary Bedroom with 2 large closets and a primary bathroom complete w/ Jacuzzi tub and a separate stall shower. Good sized second bedroom offers ample storage with its deep walk-in closet. Laminate flooring, new water heater (2024), newer HVAC system (2023) and in-unit laundry. Walk to Garret Mountain Reservation. Close to highways, shopping, and transportation. All appliances included. Pet friendly. 2 Pets allowed, $50/year per dog. Sold as-is including chimney and fireplace. No known issues. NOT FHA Approved. Priced aggressively to move!

62 Amethyst Ln, Paterson City

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Paterson City Homes under $500,000

Newest Paterson City Homes under $500,000

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