Either one has a fairly big pool of properties. Rents are probably higher in Clifton but then so are prices., You need to be careful in Clifton as the town is having a fairly severe crackdown on illegal appartments so you need to be aware of that and stay away from the euphanism " two family with additional income producing rooms"
Passaic will have more multi unit buildings (3 and above units) but a greater proportion of your tennants will be Section 8.Some people are comfortable with Section 8 tennants but you need to be savvy. I have customers looking in Paterson for the same of thing so I know what I am talking about.
Provided you are prepared to deal with the State inspections your rate of return is better with 3 or more units as long as there is no rate control.
There are many many foreclosures of multi families in these towns. Most need total rehab but if you have access to a builder there numbers will work. You can even get a 203K loan which allows for rehab money
Drop me an email and I can get you more detail.
Good luck
Peter Rogers
Fydell@yahoo. com

Sam,

Both towns mentioned have a lot of inventory at this time so you will definitely have a large selection to choose from. Taxes are relatively comparable so it's really a personal preference. Will you occupy one unit or strictly rent it? If you will occupy a unit then you must choose where you would prefer to live but if you are renting it out - they are in the same general area so it's just a matter of choice. Any reason you are limited to just Clifton and/or Passaic?

If you would like some information on the multi's in those areas, feel free to contact me directly.

Good luck.

Gina Chirico, Sales Associate
Prudential New Jersey Properties
973-715-1158 cell
973-239-7700 ext 132
GinaChirico@PruNewJersey.com