605 NEW YORK Ave #604 · Union City, NJ 07087

$395,000

2 bd · 2.0 ba · 982 sqft · Condo public records · 53 Days on market

Built 2008 $866/mo HOA · 29% of rent

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +2.2/10.0
• Cash flow +1.5/30.0
• DSCR +0.0/10.0

Listing remarks MLS

Larger sized 2bed floor plan in the building. Concrete and steel construction building comes with secure gated garage and a deeded parking space. Secured access with video surveillance. Nice size apt. has large high end kitchen w/ granite counter tops, stainless steel appliances, and maple cabinets. Apt. has good ceiling height and hardwood floors throughout. West facing brings setting sunlight into dining area. Building is in a great location: Very close to the elevator to light rail in Hoboken and just appx 7 min drive to the Lincoln Tunnel. Quick access to the NJ Tpk. , Rt. 80 and Newark airport too.

Key facts

• $866 HOA
• Garage
• Listed 52 days

Property features AI

Finance

• Other: Inclusions: All appliances and light fixtures as shown; one parking spot (#18); Exclusions: All personal property
• Financial info: Taxes listed (2025): $9,153
• HOA & community: Monthly maintenance fee of $866 (2025); Maintenance fee includes water and parking; Managed by Julip Properties (contact: [email protected])

Exterior

• Parking: One covered, attached garage parking spot (spot #18)
• Security: Intercom
• Utilities: Water included in maintenance; Parking included in maintenance
• Home design: Condo (605 New York Ave Condo); Unit #604; Entry on level 1
• Construction: Brick exterior
• Exterior features: Brick exterior; New York view; Near train, bus, shopping, parks, and schools; Storage; Pets allowed

Interior

• Kitchen: Includes dishwasher, microwave, refrigerator, gas oven/range
• Bedrooms: 2 bedrooms on level 1
• Flooring: Hardwood floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central A/C; Gas heating
• Interior features: Intercom; Hardwood floor; Dishwasher; Microwave; Refrigerator; Gas oven/range
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $395k.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (53.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (25.5% below list).
• Recommended offer: $183k (53.7% below list) — sets the bar for cash-flow.
• Cap rate 1.6% vs local median 2.3% in Union City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#117 in NJ, #2,998 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: cost of living F.
• Union City School District (suburban): math 15% / reading 36% proficiency, ranked #399 of 472 in NJ (top 84%) — 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: Rents flat; 228 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $2,942/mo this rent would consume 55% of the median local household income ($64k/yr) (locally 6042% 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 $42k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $291k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,063 (53.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 1.61%
• Cash-on-cash: -16.72%
• DSCR: 0.26
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 2.01×
• Total profit: $111,617
• Equity at exit: $355,847

10-year hold

• IRR: 12.4%
• Equity multiple: 4.58×
• Total profit: $395,969
• Equity at exit: $767,398

Cash invested: $110,600 (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 07087

• Home prices YoY: 9.6%
• Rents YoY: 0.9%
• Active inventory: 228
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,942 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$763 /mo · $9,153/yr
• Insurance: −$165
• HOA: −$866
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $-1,541

Break-even live

Break-even rent $4,892

Max offer price $183,063

Occupancy floor —

Sensitivity live

Price	-10% $-1,317	-5% $-1,429	+0% $-1,541	+5% $-1,653	+10% $-1,764
Rent	-10% $-1,773	-5% $-1,657	+0% $-1,541	+5% $-1,425	+10% $-1,308
Rate	-1.0pp $-1,342	-0.5pp $-1,440	base $-1,541	+0.5pp $-1,643	+1.0pp $-1,747

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 7th St Union City, NJ	1.0	1.0	800	$1,750	$2.19	14d	1	0.03mi
605 Bergenline Ave #2 Union City, NJ	2.0	1.0	848	$2,700	$3.18	8d	1	0.06mi
510 New York Ave Unit 2 Union City, NJ	1.0	1.0	800	$1,950	$2.44	25d	1	0.07mi
505 Palisade Ave #2 Union City, NJ	1.0	1.0	900	$2,500	$2.78	44d	1	0.11mi
401 Bergenline Ave #1 Union City, NJ	2.0	1.0	700	$2,000	$2.86	14d	1	0.12mi
500 Central Ave Union City, NJ	1.0–2.0	1.0	944	$3,300	$3.50	44d	2	0.20mi
500 Central Ave Union City, NJ	1.0–2.0	1.0	932	$3,300	$3.54	3d	5	0.20mi
500 Central Ave Union City, NJ	1.0–2.0	1.0	932	$3,300	$3.54	17d	4	0.20mi
710 6th St Unit 1 Union City, NJ	2.0	1.0	880	$2,450	$2.78	44d	1	0.23mi
710 6th St Unit 1 Union City, NJ	2.0	1.0	880	$2,450	$2.78	25d	1	0.23mi
712 6th St Unit 1R Union City, NJ	2.0	1.0	924	$2,850	$3.08	44d	1	0.23mi
1415 Manhattan Ave Unit 202 Union City, NJ	1.0	1.0	808	$2,715	$3.36	25d	1	0.28mi
612 12th St Unit 4 Union City, NJ	2.0	2.0	1076	$2,600	$2.42	44d	1	0.30mi
710 11th St Union City, NJ	2.0	1.0	850	$2,550	$3.00	21d	1	0.32mi
1200 Central Ave #10 Union City, NJ	2.0	1.0	920	$2,600	$2.83	44d	1	0.32mi
50 Grace St Unit 2R Jersey City, NJ	2.0	2.0	900	$2,700	$3.00	25d	1	0.34mi
50 Grace St Jersey City, NJ	2.0	2.0	1000	$2,700	$2.70	19d	1	0.34mi
50 Grace St Unit 3 Jersey City, NJ	2.0	2.0	800	$2,700	$3.38	8d	1	0.34mi
806 John F. Kennedy Blvd Apt 2 Union City, NJ	3.0	1.0	1020	$2,500	$2.45	44d	1	0.36mi
1201 Adams St Unit 408 Hoboken, NJ	2.0	2.0	1033	$5,600	$5.42	15d	1	0.40mi
1415 Manhattan Ave Unit 408 Union City, NJ	1.0	1.0	922	$2,811	$3.05	44d	1	0.40mi
1415 Manhattan Ave Unit 308 Union City, NJ	1.0	1.0	922	$2,800	$3.04	3d	1	0.41mi
1100 Jefferson St Hoboken, NJ	1.0–2.0	1.0–2.0	1001	$5,554	$5.55	0d	7	0.41mi
1300 Grand St #417 Hoboken, NJ	2.0	2.0	1038	$5,100	$4.91	0d	1	0.42mi
1415 Manhattan Ave Unit 501 Union City, NJ	2.0	2.0	1118	$3,890	$3.48	3d	1	0.42mi
1331 Grand St Apt 307 Hoboken, NJ	2.0	2.0	1116	$4,450	$3.99	25d	1	0.42mi
1130 Grand St Hoboken, NJ	2.0	2.0	1017	$4,871	$4.79	0d	10	0.44mi
1331 Grand St Hoboken, NJ	1.0–2.0	1.0–2.0	933	$4,450	$4.77	8d	2	0.44mi
950 Monroe St Unit 1108 Hoboken, NJ	2.0	2.0	1004	$4,350	$4.33	25d	1	0.45mi
950 Monroe St Unit 1013 Hoboken, NJ	1.0	1.0	710	$3,305	$4.65	25d	1	0.45mi
950 Monroe St Unit 708 Hoboken, NJ	1.0	1.0	750	$3,330	$4.44	25d	1	0.45mi
1300 Clinton St Hoboken, NJ	2.0	2.0	927	$4,700	$5.07	5d	6	0.46mi
1405 Clinton St Hoboken, NJ	1.0–2.0	1.0–2.0	979	$5,400	$5.51	4d	6	0.46mi
900 Monroe St Hoboken, NJ	1.0–3.0	1.0–2.0	1014	$5,320	$5.25	0d	3	0.47mi
1330 Willow Ave Hoboken, NJ	1.0	1.0	800	$4,483	$5.60	4d	2	0.49mi
1101 Grand St Unit 404 Hoboken, NJ	2.0	2.0	962	$4,995	$5.19	23d	1	0.49mi
73 Congress St Unit 2 Jersey City, NJ	2.0	1.0	1100	$2,650	$2.41	25d	1	0.49mi
112 Hague St Unit 2 Jersey City, NJ	2.0	1.0	800	$2,200	$2.75	25d	1	0.50mi
9 Grand St Unit 2A Weehawken, NJ	1.0	1.0	550	$2,775	$5.05	23d	1	0.50mi
27 Graham St Unit Rear (3) Jersey City, NJ	1.0	1.0	700	$2,895	$4.14	25d	1	0.50mi

HOA detail condo

• Monthly dues: $866 · $10,392/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $395,000 Active 53 DOM
2. 2026-06-18
   days on market $395,000 Active 50 DOM
3. 2026-06-17
   days on market $395,000 Active 49 DOM
4. 2026-06-16
   days on market $395,000 Active 48 DOM
5. 2026-06-15
   days on market $395,000 Active 47 DOM
6. 2026-06-13
   days on market $395,000 Active 45 DOM
7. 2026-06-13
   days on market $395,000 Active 44 DOM
8. 2026-06-09
   days on market $395,000 Active 41 DOM
9. 2026-06-08
   days on market $395,000 Active 40 DOM
10. 2026-06-07
    days on market $395,000 Active 39 DOM
11. 2026-06-04
    days on market $395,000 Active 36 DOM
12. 2026-06-03
    days on market $395,000 Active 35 DOM
13. 2026-06-02
    days on market $395,000 Active 34 DOM
14. 2026-06-01
    days on market $395,000 Active 33 DOM
15. 2026-05-31
    days on market $395,000 Active 32 DOM
16. 2026-04-30
    price $2,900
17. 2026-04-29
    listed $395,000 Active 1562-char remark
18. 2026-04-29
    historical
19. 2026-04-09
    listed $3,000
20. 2026-04-07
    status Active
21. 2026-03-19
    status Under Contract
22. 2026-02-11
    status Active
23. 2026-02-05
    status Under Contract
24. 2026-01-27
    listed $399,000 Active
25. 2017-06-06
    soldstatus $291,000
26. 2017-05-22
    soldstatus $291,000 Sold

    Show marketing remark (611 chars)

    Larger sized 2bed floor plan in the building. Concrete and steel construction building comes with secure gated garage and a deeded parking space. Secured access with video surveillance. Nice size apt. has large high end kitchen w/ granite counter tops, stainless steel appliances, and maple cabinets. Apt. has good ceiling height and hardwood floors throughout. West facing brings setting sunlight into dining area. Building is in a great location: Very close to the elevator to light rail in Hoboken and just appx 7 min drive to the Lincoln Tunnel. Quick access to the NJ Tpk. , Rt. 80 and Newark airport too.

27. 2017-04-05
    status Contingent (Deposit Accepted by Owner)

    Show marketing remark (611 chars)

    Larger sized 2bed floor plan in the building. Concrete and steel construction building comes with secure gated garage and a deeded parking space. Secured access with video surveillance. Nice size apt. has large high end kitchen w/ granite counter tops, stainless steel appliances, and maple cabinets. Apt. has good ceiling height and hardwood floors throughout. West facing brings setting sunlight into dining area. Building is in a great location: Very close to the elevator to light rail in Hoboken and just appx 7 min drive to the Lincoln Tunnel. Quick access to the NJ Tpk. , Rt. 80 and Newark airport too.

28. 2017-03-13
    listed $279,000 Active

    Show marketing remark (611 chars)

    Larger sized 2bed floor plan in the building. Concrete and steel construction building comes with secure gated garage and a deeded parking space. Secured access with video surveillance. Nice size apt. has large high end kitchen w/ granite counter tops, stainless steel appliances, and maple cabinets. Apt. has good ceiling height and hardwood floors throughout. West facing brings setting sunlight into dining area. Building is in a great location: Very close to the elevator to light rail in Hoboken and just appx 7 min drive to the Lincoln Tunnel. Quick access to the NJ Tpk. , Rt. 80 and Newark airport too.

29. 2008-03-24
    soldstatus $280,000
30. 2008-02-29
    listed $315,000
31. 2008-02-29
    price $315,000
32. 2008-02-29
    historical

ⓘ 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: $9,153 · $763/mo
• Projected year-2 tax: $9,494 · $791/mo
• Expected delta: +$341/yr (+$28/mo · 3.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,300
• − Mortgage interest: −$22,126
• − Property taxes: −$9,153
• − Insurance: −$1,975
• − Repairs & maintenance: −$2,824
• − Management: −$2,824
• − HOA: −$10,392
• − Depreciation: −$11,491
• Taxable loss: −$25,485
• Est. tax savings @ 24.0%: +$6,116
• After-tax cash flow: $-12,374/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: Union City School District
• NCES district ID: 3416380
• Math proficiency: 15% ▼ -19.00%
• Reading proficiency: 36% ▼ -19.00%
• Median HH income: $41,210
• Composite: 21.55/100
• National rank: #8312
• State rank: #399 of 472 in NJ

Livability — Union City

• Score: 77/100
• State rank: #117
• US rank: #2998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, NJ
• County: Hudson County · 718,323 people
• City population: 66,463
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 66,463
• Household income: $64,310
• Rent vs Own: 80.9% rent · 19.1% own
• Severe rent burden: 6042.0

Population outlook (Hudson County) Hauer SSP2

• Today (2025): 771,834 people
• By 2030: 818,028 · +6.0%
• By 2040: 907,866 · +17.6%
• By 2050: 994,480 · +28.8%
• By 2075: 1,163,301 · +50.7%
• By 2100: 1,254,703 · +62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 28% White 10% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 8% Cuban 9% Dominican 17%
• Foreign-born: 55% · Canada, Jamaica, China
• Languages at home: 18% English-only · Spanish 74% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.10%
• Current HPI: 597.8126
• Rent YoY: ▲ 0.89%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

-99.1% since first listed

18 events — show timeline

• 2026-05-24 Price Changed $2,800 HCMLS
• 2026-04-30 Price Changed $2,900 HCMLS
• 2026-04-29 Listing Removed — HCMLS
• 2026-04-29 Listed $395,000 HCMLS
• 2026-04-09 Listed for Rent $3,000 HCMLS
• 2026-04-07 Relisted — HCMLS
• 2026-03-19 Pending — HCMLS
• 2026-02-11 Relisted — HCMLS
• 2026-02-05 Pending — HCMLS
• 2026-01-27 Listed $399,000 HCMLS
• 2017-06-06 Sold (Public Records) $291,000 Public Records
• 2017-05-22 Sold (MLS) $291,000 HCMLS
• 2017-04-05 Pending — HCMLS
• 2017-03-13 Listed $279,000 HCMLS
• 2008-03-24 Sold (MLS) $280,000 HCMLS
• 2008-02-29 Listing Removed — HCMLS
• 2008-02-29 Price Changed $315,000 HCMLS
• 2008-02-29 Listed $315,000 HCMLS

Property tax history

+16.3%/yr

Latest (2025): $9,153 · +3.6% YoY. Source: county tax records.