4 Belden St · Salem, NJ 08079

$144,000

4 bd · 2.0 ba · 1,328 sqft · SingleFamily public records · 219 Days on market

Built 1940 1,699 sqft lot Est $207k · 30% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Welcome to 4 Belden St, Salem, NJ — a well-maintained 4-bedroom, 2 full bathroom home offering strong rental potential and recent system updates for peace of mind. This property is currently tenant-occupied on a month-to-month lease with a Section 8 tenant, presenting a great opportunity for investors seeking an income-producing asset from day one. Property is being sold in AS-IS Condition. The seller will make no repairs. All inspections are for the buyer's information only. There is a current CO in place for the tenant that occupies the property. Rental Income 19,560.00 Recent upgrades include an updated roof in 2022, a new sewer main replacement in 2025, and a new range/stove insta

Key facts

• New range stove
• Updated roof
• New sewer main

Tags

• UPDATED ROOF
• NEW SEWER MAIN
• NEW RANGE STOVE

Property features AI

Finance

• Financial info: Fee simple ownership; Total actual rent reported: $19,560

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric hot water; Oil heating fuel
• Home design: Semi-detached property; Mixed plumbing construction with stick-built elements; Vinyl siding
• Construction: Brick/mortar foundation; Building is not winterized; Above-grade and below-grade structures
• Exterior features: Not located in a federal flood zone; Municipal trash service

Interior

• Kitchen: Refrigerator; Electric oven/range
• Bedrooms: Three bedrooms on the upper level; One bedroom on the main level
• Flooring: Vinyl flooring; Tile/brick flooring
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: 90% forced air heating; Oil-fired heating
• Interior features: Unfinished basement; Multiple access exits (2+)
• Laundry & utility: Laundry located on the main floor; Electric hot water

🏷️ Possibly a rental listed for sale. The $144,000 price doesn't fit this home's estimated sale value (~$207,168) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $664 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 8.4% in Salem — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: schools D, amenities F, commute F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 102 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,135/mo this rent would consume 47% of the median local household income ($55k/yr) (locally 663% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $449 of equity ($996 loan paydown + $-547 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.48% ✓
• Cap rate: 11.83%
• Cash-on-cash: 19.76%
• DSCR: 1.88
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $207,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 New Market St	0.17mi	3/1.0 (-1)	1,310 (-1%)	4mo	$186,000	$142	78
318 Fenwick Ave	0.43mi	3/1.0 (-1)	1,344 (+1%)	3mo	$191,250	$142	66
272 E Broadway	0.19mi	3/2.0 (-1)	1,500 (+13%)	1mo	$65,000	$43	63
363 Grant St	0.47mi	3/2.5 (-1)	1,424 (+7%)	0mo	$250,000	$176	59
188 Cook Ave	0.60mi	4/2.0	1,260 (-5%)	6mo	$210,000	$167	58
179 Victory Ave	0.55mi	4/1.5	1,449 (+9%)	0mo	$238,000	$164	57
208 9th St	0.26mi	3/1.0 (-1)	1,149 (-14%)	1mo	$224,000	$195	56
197 Pine Ave	0.72mi	3/1.0 (-1)	1,318 (-1%)	2mo	$205,000	$156	54
201 Chestnut St	0.69mi	3/1.0 (-1)	1,308 (-2%)	6mo	$128,500	$98	51
352 Allen Ave	0.44mi	3/1.5 (-1)	1,460 (+10%)	7mo	$225,000	$154	50
14 Yorke St	0.62mi	3/1.5 (-1)	1,197 (-10%)	1mo	$161,000	$135	47
22 Davis Ave	0.56mi	3/1.0 (-1)	1,158 (-13%)	7mo	$185,000	$160	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.88×
• Total profit: $35,579
• Equity at exit: $39,096

10-year hold

• IRR: 23.5%
• Equity multiple: 3.52×
• Total profit: $101,701
• Equity at exit: $44,879

Cash invested: $40,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 08079

• Home prices YoY: -0.1%
• Active inventory: 102
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,135 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$208 /mo · $2,493/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $664

Break-even live

Break-even rent $1,295

Max offer price $144,000

Occupancy floor 64%

Sensitivity live

Price	-10% $746	-5% $705	+0% $664	+5% $623	+10% $583
Rent	-10% $495	-5% $580	+0% $664	+5% $748	+10% $833
Rate	-1.0pp $737	-0.5pp $701	base $664	+0.5pp $627	+1.0pp $589

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	6d	1	0.32mi
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	44d	1	0.34mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	2d	1	0.52mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	4d	1	0.53mi

Listing history 21 events

1. 2026-06-21
   days on market $144,000 Active 219 DOM
2. 2026-06-18
   days on market $144,000 Active 216 DOM
3. 2026-06-17
   days on market $144,000 Active 215 DOM
4. 2026-06-16
   days on market $144,000 Active 214 DOM
5. 2026-06-15
   days on market $144,000 Active 213 DOM
6. 2026-06-13
   days on market $144,000 Active 211 DOM
7. 2026-06-13
   days on market $144,000 Active 210 DOM
8. 2026-06-09
   days on market $144,000 Active 207 DOM
9. 2026-06-08
   days on market $144,000 Active 206 DOM
10. 2026-06-07
    days on market $144,000 Active 205 DOM
11. 2026-06-04
    days on market $144,000 Active 202 DOM
12. 2026-06-03
    days on market $144,000 Active 201 DOM
13. 2026-06-02
    days on market $144,000 Active 200 DOM
14. 2026-06-01
    days on market $144,000 Active 199 DOM
15. 2026-05-31
    days on market $144,000 Active 198 DOM
16. 2026-01-15
    price $144,000
17. 2025-11-14
    listed $149,000 Active
18. 2022-10-06
    soldstatus $437,500
19. 2016-07-05
    soldstatus $785,000
20. 1997-06-13
    soldstatus $1
21. 1995-12-01
    soldstatus $428,580

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $2,493 · $208/mo
• Projected year-2 tax: $3,040 · $253/mo
• Expected delta: +$546/yr (+$46/mo · 21.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,626
• − Mortgage interest: −$8,066
• − Property taxes: −$2,493
• − Insurance: −$720
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − Depreciation: −$4,189
• Taxable income: $6,057
• Est. tax owed @ 24.0%: −$1,454
• After-tax cash flow: $6,515/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment F Housing F Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

-66.4% since first listed

6 events — show timeline

• 2026-01-15 Price Changed $144,000 BRIGHT MLS
• 2025-11-14 Listed $149,000 BRIGHT MLS
• 2022-10-06 Sold (Public Records) $437,500 Public Records
• 2016-07-05 Sold (Public Records) $785,000 Public Records
• 1997-06-13 Sold (Public Records) $1 Public Records
• 1995-12-01 Sold (Public Records) $428,580 Public Records

Property tax history

-0.1%/yr

Latest (2025): $2,493 · +4.9% YoY. Source: county tax records.