860 Lower Ferry Rd Unit 4C · Ewing, NJ 08628

$145,000

2 bd · 2.0 ba · 1,421 sqft · Condo · 103 Days on market

Built 1973 Fair condition $786/mo HOA · 28% of rent ↓ 15% since listing

---

Why this score? — see what drove the C+ 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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Cambridge Hall, a highly sought-after 55+ community in Ewing Township known for its security and exceptional amenities. This spacious 2-bedroom, 2-bathroom unit offers a wonderful opportunity to add your own personal touches and make it your own. The home features a large living room with an updated window A/C unit, a dedicated dining room, and an eat-in kitchen with ample counter space. The hall bathroom includes a jetted tub, and the generously sized guest bedroom provides comfortable accommodations for visitors. The large primary suite features a walk-in closet and a private primary bathroom. Residents enjoy outstanding conveniences and amenities, including a community pool, b

Key facts

• Fitness center
• Community pool
• Extra storage

Tags

• COMMUNITY POOL
• FITNESS CENTER
• PARTY ROOM WITH KITCHEN
• WELCOMING LOBBY LOUNGE SPACES
• EXTRA STORAGE
• TWO ELEVATORS

Property features AI

Finance

• Other: Building name: CAMBRIDGE HALL
• HOA & community: Monthly condo fee includes common area maintenance, custodial services, electricity, gas, health club, management, pool(s), snow removal and water; Building amenities include bar/lounge, common grounds, community center, elevator, exercise room, extra storage, library, meeting room, party room, outdoor pool and reserved/assigned parking; Property manager on site

Exterior

• Parking: Parking lot with assigned/reserved spaces; Two total parking spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Condominium unit (Unit/Flat) in a mid-rise building (5–8 floors); Entry on 4th floor; Located in a 55+ senior community (age requirement: 55)
• Construction: Brick construction
• Exterior features: Community outdoor pool; Above-grade other structures

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric baseboard heating; Wall-mounted electric cooling unit; Electric hot water
• Interior features: Estimated living area; No basement
• Laundry & utility: Washer/dryer hookup in the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ewing Township School District (suburban): math 16% / reading 37% proficiency, ranked #358 of 472 in NJ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% 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 $131,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.93% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.48%
• DSCR: 1.56
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,915
• Equity at exit: $21,620

10-year hold

• IRR: 12.3%
• Equity multiple: 1.99×
• Total profit: $40,162
• Equity at exit: $12,537

Cash invested: $40,600 (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 08628

• Active inventory: 39
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,798 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$786
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $422

Break-even live

Break-even rent $2,263

Max offer price $145,000

Occupancy floor 80%

Sensitivity live

Price	-10% $522	-5% $472	+0% $422	+5% $372	+10% $322
Rent	-10% $201	-5% $312	+0% $422	+5% $533	+10% $643
Rate	-1.0pp $495	-0.5pp $459	base $422	+0.5pp $385	+1.0pp $346

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
830 Lower Ferry Rd Ewing, NJ	3.0	2.0	1438	$2,975	$2.07	14d	1	0.15mi
500 Silvia St Ewing, NJ	1.0–2.0	1.0–2.0	1076	$2,845	$2.64	2d	14	0.44mi
125 W Farrell Ave Ewing Township, NJ	1.0–2.0	1.0	975	$2,460	$2.52	13d	6	0.44mi
34 Western Ave Ewing Township, NJ	1.0–3.0	1.0–1.5	832	$2,218	$2.66	14d	3	1.18mi
33 Sunset Ave Ewing, NJ	3.0	1.0	1260	$2,750	$2.18	14d	1	1.29mi
74 Kyle Way Ewing Township, NJ	2.0	2.0	1253	$2,400	$1.92	22d	1	1.33mi
103 Pennsylvania Ave Ewing, NJ	3.0	1.0	1200	$2,600	$2.17	14d	1	1.39mi

HOA detail condo

• Monthly dues: $786 · $9,432/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $145,000 Active 103 DOM
2. 2026-06-17
   days on market $145,000 Active 102 DOM
3. 2026-06-16
   days on market $145,000 Active 101 DOM
4. 2026-06-15
   days on market $145,000 Active 100 DOM
5. 2026-06-14
   days on market $145,000 Active 98 DOM
6. 2026-06-13
   days on market $145,000 Active 97 DOM
7. 2026-06-10
   days on market $145,000 Active 95 DOM
8. 2026-06-09
   days on market $145,000 Active 94 DOM
9. 2026-06-08
   days on market $145,000 Active 93 DOM
10. 2026-06-07
    days on market $145,000 Active 92 DOM
11. 2026-06-03
    days on market $145,000 Active 88 DOM
12. 2026-06-02
    days on market $145,000 Active 87 DOM
13. 2026-06-01
    days on market $145,000 Active 86 DOM
14. 2026-05-31
    days on market $145,000 Active 85 DOM
15. 2026-05-30
    days on market $145,000 Active 84 DOM
16. 2026-04-16
    price $145,000
17. 2026-04-11
    price $155,000
18. 2026-03-07
    listed $170,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,573
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,686
• − Management: −$2,686
• − HOA: −$9,432
• − Depreciation: −$4,218
• Taxable income: $3,528
• Est. tax owed @ 24.0%: −$847
• After-tax cash flow: $4,219/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

This property is in fair condition with some repairs and maintenance needed. The roof and exterior siding require attention, and the interior walls and flooring could benefit from updates. Painting and repairing the exterior and interior can significantly increase the home's resale value.

Repairs flagged

• Major roof — The roof appears to be old and weathered, with visible signs of wear and tear.
• Moderate exterior siding — The exterior siding appears to be in fair condition, with some discoloration and minor damage visible.
• Minor flooring — The flooring in the common areas appears to be in fair condition, with some wear and tear visible.
• Minor interior walls/paint — The interior walls and paint appear to be in fair condition, with some discoloration and minor damage visible.
• Minor HVAC/mechanicals — The HVAC system appears to be in fair condition, with some signs of wear and tear visible.
• Minor landscaping — The landscaping appears to be in fair condition, with some overgrown areas and minor damage visible.

Value-add opportunities

• Resale paint exterior siding — Painting the exterior siding can improve the curb appeal and increase the home's resale value.
• Resale repair roof — Repairing the roof can improve the home's structural integrity and increase its resale value.
• Resale replace flooring — Replacing the flooring can improve the home's appearance and increase its resale value.
• Resale paint interior walls — Painting the interior walls can improve the home's appearance and increase its resale value.
• Resale service HVAC system — Servicing the HVAC system can improve the home's comfort and energy efficiency, increasing its resale value.
• Resale trim landscaping — Trimming the landscaping can improve the home's curb appeal and increase its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be old and weathered, with visible signs of wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding appears to be in fair condition, with some discoloration and minor damage visible.	Moderate	$3,000–15,000
flooring · The flooring in the common areas appears to be in fair condition, with some wear and tear visible.	Minor	$500–3,000
interior walls/paint · The interior walls and paint appear to be in fair condition, with some discoloration and minor damage visible.	Minor	$500–3,000
HVAC/mechanicals · The HVAC system appears to be in fair condition, with some signs of wear and tear visible.	Minor	$500–3,000
landscaping · The landscaping appears to be in fair condition, with some overgrown areas and minor damage visible.	Minor	$500–3,000
Total estimated repair cost · 6 items		$20,000–77,000

Value-add ROI direction

• Resale paint exterior siding — Painting the exterior siding can improve the curb appeal and increase the home's resale value. ↑
• Resale repair roof — Repairing the roof can improve the home's structural integrity and increase its resale value. ↑
• Resale replace flooring — Replacing the flooring can improve the home's appearance and increase its resale value. ↑
• Resale paint interior walls — Painting the interior walls can improve the home's appearance and increase its resale value. ↑
• Resale service HVAC system — Servicing the HVAC system can improve the home's comfort and energy efficiency, increasing its resale value. ↑
• Resale trim landscaping — Trimming the landscaping can improve the home's curb appeal and increase its resale value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ewing Township School District
• NCES district ID: 3404920
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $73,684
• Composite: 25.48/100
• National rank: #7443
• State rank: #358 of 472 in NJ

Livability — Ewing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 22,816
• Population (ZIP): 9,479

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 381,395 people
• By 2030: 384,640 · +0.9%
• By 2040: 391,431 · +2.6%
• By 2050: 397,845 · +4.3%
• By 2075: 417,281 · +9.4%
• By 2100: 420,327 · +10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 17% Hispanic / Latino 10% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 7% Slovak 3% Scotch-Irish 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 6% Other Indo-European 3% German/W. Germanic 2%

Political lean MEDSL · Mercer

• 2024 margin: Solid D (+33.9) · D 65.9% · R 32.0% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 36.1pp · 2024: 33.9pp
• All cycles: 2024: D+33.9 2020: D+40.0 2016: D+36.2 2012: D+36.8 2008: D+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.76%
• Current HPI: 259.4472
• 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

-14.7% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $145,000 BRIGHT MLS
• 2026-04-11 Price Changed $155,000 BRIGHT MLS
• 2026-03-07 Listed $170,000 BRIGHT MLS