518 Summer St
Paterson, NJ 07501
6 bd 2 ba 1,320 sqft Built 1940 Lot 2,614 sqft multi_family
Most recent sale
$486,000
Jul 8, 2022
Location
Timeline: Sale, Listing & Tax History
Recorded events
| Date | Event | Price | Source |
|---|---|---|---|
| Jan 31, 2025 | Listing removed | $1,950 | MoreMLS |
| Dec 13, 2023 | Listed for rent | $1,950 | GardenState |
| Nov 12, 2023 | Price changed for rent | $2,000 | GardenState |
| Nov 4, 2023 | Listed for rent | $2,100 | GardenState |
| Aug 10, 2023 | Price changed for rent | $2,100 | MoreMLS |
| Jul 15, 2023 | Listed for rent | $2,200 | MoreMLS |
| Feb 12, 2023 | Listed for rent | $1,950 | GardenState |
| Jul 8, 2022 | Sold | $486,000 | MLS #3781079 |
| May 10, 2022 | Listed | $449,999 | MLS #3781079 |
| Apr 3, 2019 | Price changed | $89,000 | MLS #1901621 |
| Mar 20, 2019 | Price changed | $99,000 | MLS #3524986 |
| Jan 12, 2019 | Listed | $114,900 | MLS #3524986 |
| Oct 18, 2018 | Sold | $45,000 | Public Record |
| Sep 7, 2018 | Listing removed | $49,900 | GardenState |
| Sep 6, 2018 | Listing removed | $49,900 | NewJerseyMLS |
| Aug 19, 2018 | Listed | $49,900 | MLS #1834761 |
Tax assessment history
| Year | Building | Land | Total assessed | Tax paid |
|---|---|---|---|---|
| 2025 | $9,600 | $21,900 | $31,500 | $1,680 |
| 2024 | $9,600 | $21,900 | $31,500 | $1,604 |
| 2023 | $9,600 | $21,900 | $31,500 | $1,544 |
| 2022 | $9,600 | $21,900 | $31,500 | $1,462 |
| 2021 | $9,600 | $21,900 | $31,500 | $1,409 |
| 2020 | $9,600 | $21,900 | $31,500 | $1,315 |
| 2019 | $9,400 | $21,600 | $31,000 | $1,281 |
| 2018 | $9,200 | $21,500 | $30,700 | $1,328 |
| 2017 | $75,300 | $21,400 | $96,700 | $4,022 |
| 2016 | $79,600 | $22,500 | $102,100 | $4,180 |
| 2015 | $79,600 | $22,500 | $102,100 | $3,944 |
| 2014 | $109,700 | $108,500 | $218,200 | $6,319 |
| 2013 | $109,700 | $108,500 | $218,200 | $5,987 |
| 2012 | $109,700 | $108,500 | $218,200 | $5,487 |
| 2010 | $109,700 | $108,500 | $218,200 | $4,638 |
| 2009 | $109,700 | $108,500 | $218,200 | $4,213 |
| 2008 | $109,700 | $108,500 | $218,200 | $4,043 |
| 2007 | $109,700 | $108,500 | $218,200 | $38,185 |
Property facts
Year built
1940
Property type
multi_family
Stories
2
Beds
6
Baths
2
Living area
1,320 sqft
Lot size
2,614 sqft
ZIP code
07501
City
Paterson
Street
Summer St
Coordinates
40.90982, -74.16390
Comparable properties nearby
Investment analysis
Estimates based on local averages — not personalized adviceEstimated monthly rent
$1,980
Gross rental yield
4.89%
Implied cap rate
3.18%
Trend-extrapolated value
—
Frequently asked questions
When did 518 Summer St last sell?
518 Summer St most recently sold on Jul 8, 2022 for $486,000.
What is the current tax assessment for 518 Summer St?
The most recent total assessment for 518 Summer St (year 2025) is $31,500 with $1,680 in property tax.
How does 518 Summer St's assessment compare to its last sale price?
The current assessment is 93.5% below the last sale price of $486,000.
When was 518 Summer St built?
518 Summer St was built in 1940.
How does 518 Summer St compare to others on Summer St?
We track 8 other properties on Summer St. Browse the list under "Other properties on Summer St" to compare beds, baths, and sale history.
What are the property facts for 518 Summer St?
518 Summer St is a 6 bed, 2 bath, 1,320 sqft, 2,614 sqft lot multi_family.
Is 518 Summer St a flip candidate?
No — 518 Summer St does not appear in our flips dataset.
Is 518 Summer St a tax-appeal candidate?
No — 518 Summer St is not currently flagged as a tax-appeal candidate.
Forecast for this area
ZIP-area linear projection — not a per-property automated valuationQuarterly trend
+2.0%
Implied 1-yr
+7.9%
2026 Q3
$653.7K
2026 Q4
$665.1K
ZIP 07501 — Median Price History + Forecast
Explore nearby
Geography
Other properties on Summer St