16 Canfield Ave · Kenvil, NJ 07803-3008

$429,000

3 bd · 1.5 ba · 1,820 sqft · SingleFamily public records · 17 Days on market

Built 1926 0.33 ac lot $236/sqft · 11% below area Est $484k · 11% 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 +21.1/30.0
• ARV discount +12.6/15.0
• DSCR +6.7/10.0
• 1% rule +5.9/10.0
• Schools +5.6/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Unlock the potential of this 3-bedroom home, offering an exceptional opportunity for buyers with vision and creativity. In need of renovation and thoughtful updates, this property presents the perfect canvas to customize and make your own. Ideally situated in Mine Hill Township one of Morris County's desirable communities the home offers a suburban-rural setting with convenient access to major highways including I-80 and Route 46, as well as easy commuting options to New York City. Residents will appreciate close proximity to shopping, dining, and everyday essentials. Additional highlights include natural gas availability in the street for potential future conversion, along with public sewer access enhancing both value and long-term flexibility. Priced to sell and offered strictly as-is, this property is best suited for conventional financing, renovation loans, or cash buyers. Don't miss this outstanding opportunity to invest in a property with tremendous upside in a highly sought-after location.

Key facts

• 0.33 acre lot
• Built 1926
• Listed 17 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $429k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $429k).
• Recommended offer: $423k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#437 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-, schools B+; Watch: health & safety D, amenities F, commute F.
• Mine Hill Township School District (suburban): math 55% / reading 65% proficiency, ranked #233 of 612 in NJ (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.0% local appreciation)).
• Morris County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $120k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($423k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $422,565 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 7.6

CMA / ARV

• ARV (median comp): $484,387
• List price: $429,000
• Delta: -11.43%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.3%
• Equity multiple: 1.76×
• Total profit: $91,057
• Equity at exit: $192,897

10-year hold

• IRR: 15.2%
• Equity multiple: 3.24×
• Total profit: $269,430
• Equity at exit: $297,277

Cash invested: $120,120 (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 07803-3008

• Active inventory: 1
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $4,680 medium
• Mortgage (P&I): −$2,250
• Tax from tax record: −$653 /mo · $7,832/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$983
• Net cashflow: $616

Break-even live

Break-even rent $3,900

Max offer price $429,000

Occupancy floor 82%

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8000 Crescent CIR Randolph, NJ	1.0–3.0	1.0–2.5	1415	$4,680	$3.31	1d	36	1.48mi

Listing history 3 events

1. 2026-05-04
   status Under Contract 1011-char remark

   Show marketing remark (1011 chars)

   Unlock the potential of this 3-bedroom home, offering an exceptional opportunity for buyers with vision and creativity. In need of renovation and thoughtful updates, this property presents the perfect canvas to customize and make your own. Ideally situated in Mine Hill Township one of Morris County's desirable communities the home offers a suburban-rural setting with convenient access to major highways including I-80 and Route 46, as well as easy commuting options to New York City. Residents will appreciate close proximity to shopping, dining, and everyday essentials. Additional highlights include natural gas availability in the street for potential future conversion, along with public sewer access enhancing both value and long-term flexibility. Priced to sell and offered strictly as-is, this property is best suited for conventional financing, renovation loans, or cash buyers. Don't miss this outstanding opportunity to invest in a property with tremendous upside in a highly sought-after location.

2. 2026-04-17
   listed $429,000 Active 1011-char remark

   Show marketing remark (1011 chars)

   Unlock the potential of this 3-bedroom home, offering an exceptional opportunity for buyers with vision and creativity. In need of renovation and thoughtful updates, this property presents the perfect canvas to customize and make your own. Ideally situated in Mine Hill Township one of Morris County's desirable communities the home offers a suburban-rural setting with convenient access to major highways including I-80 and Route 46, as well as easy commuting options to New York City. Residents will appreciate close proximity to shopping, dining, and everyday essentials. Additional highlights include natural gas availability in the street for potential future conversion, along with public sewer access enhancing both value and long-term flexibility. Priced to sell and offered strictly as-is, this property is best suited for conventional financing, renovation loans, or cash buyers. Don't miss this outstanding opportunity to invest in a property with tremendous upside in a highly sought-after location.

3. 2026-04-12
   historical $429,000 1011-char remark

   Show marketing remark (1011 chars)

   Unlock the potential of this 3-bedroom home, offering an exceptional opportunity for buyers with vision and creativity. In need of renovation and thoughtful updates, this property presents the perfect canvas to customize and make your own. Ideally situated in Mine Hill Township one of Morris County's desirable communities the home offers a suburban-rural setting with convenient access to major highways including I-80 and Route 46, as well as easy commuting options to New York City. Residents will appreciate close proximity to shopping, dining, and everyday essentials. Additional highlights include natural gas availability in the street for potential future conversion, along with public sewer access enhancing both value and long-term flexibility. Priced to sell and offered strictly as-is, this property is best suited for conventional financing, renovation loans, or cash buyers. Don't miss this outstanding opportunity to invest in a property with tremendous upside in a highly sought-after location.

ⓘ 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: $7,832 · $653/mo
• Projected year-2 tax: $9,257 · $771/mo
• Expected delta: +$1,425/yr (+$119/mo · 18.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,160
• − Mortgage interest: −$24,031
• − Property taxes: −$7,832
• − Insurance: −$2,145
• − Repairs & maintenance: −$4,493
• − Management: −$4,493
• − Depreciation: −$12,480
• Taxable income: $686
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $7,228/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: Mine Hill Township School District
• NCES district ID: 3410350
• Math proficiency: 55% ▼ -5.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $87,344
• Composite: 56.23/100
• National rank: #2507
• State rank: #233 of 612 in NJ

Livability — Kenvil

• Score: 63/100
• State rank: #437
• US rank: #15923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-04 Pending — GSMLS
• 2026-04-17 Listed $429,000 GSMLS
• 2026-04-12 Coming Soon $429,000 GSMLS

Property tax history

+1.4%/yr

Latest (2025): $7,832 · +0.4% YoY. Source: county tax records.