23 Cain Ave · Trenton, NJ 08638

$250,000

4 bd · 2.0 ba · 1,102 sqft · SingleFamily public records · 14 Days on market

Built 1910 1,742 sqft lot Est $347k · 28% under

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity – 3-Story Colonial in Trenton, NJ Welcome to 23 Cain Ave, Trenton, NJ – a spacious 3-story Colonial offering incredible potential for investors. Whether you’re looking for your next buy-and-hold rental or a fix-and-flip project, this property is a strong candidate to generate long-term returns. This classic Colonial features a traditional layout with multiple levels of living space, offering plenty of room for customization and value-add improvements. The property is situated in an established neighborhood, close to schools, shopping, and public transportation, making it an attractive option for both renters and future homeowners. Highlights: 3-story Colonial style home Generous interior square footage with flexible layout Strong rental potential in a high-demand market Excellent candidate for renovation and equity growth Convenient location near major highways and local amenities With the right vision and updates, 23 Cain Ave can become a cash-flowing rental or a profitable resale. Don’t miss the chance to add this versatile investment property to your portfolio.

Key facts

• Remodeled
• Renovated
• New plumbing

Tags

• RENOVATED
• REMODELED
• NEW ELECTRICAL
• NEW PLUMBING
• NEW HEATING
• NEW FLOORING

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached structure; Above-grade living space (finished)
• Construction: Brick construction; Concrete perimeter foundation; Estimated year built
• Exterior features: Sidewalks; Street lights; Porch(es)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 4 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level; 2 full bathrooms total
• Heating & cooling: Forced air heating; Natural gas heating; Central air conditioning (electric)
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.0% vs local median 6.3% in Trenton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#133 in NJ, #3,533 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools F, crime F, employment F.
• Trenton Public School District (urban): math 2% / reading 16% proficiency, ranked #471 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 83 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,535/mo this rent would consume 45% of the median local household income ($67k/yr) (locally 1185% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 21y 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 $120k; list at $250k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• 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 $250,000

Questions for the listing agent

1. Built in 1910 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $347,130
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Dexter St	0.24mi	3/1.0 (-1)	1,200 (+9%)	1mo	$139,000	$116	64
38 Myrtle St	0.35mi	4/2.0	1,008 (-8%)	12mo	$400,000	$397	59
68 Weber	0.65mi	3/1.0 (-1)	1,105 (+0%)	10mo	$157,000	$142	52
119 Robbins Ave	0.70mi	3/1.0 (-1)	1,056 (-4%)	3mo	$355,000	$336	49
133 Robbins Ave	0.70mi	3/2.5 (-1)	1,176 (+7%)	6mo	$370,000	$315	44
709 Mulberry St S	0.51mi	3/2.0 (-1)	1,240 (+12%)	8mo	$285,000	$230	44
1142 Indiana Ave	0.65mi	3/1.0 (-1)	1,000 (-9%)	8mo	$300,000	$300	39
929 Lanning Ave	0.57mi	3/1.0 (-1)	1,248 (+13%)	8mo	$400,000	$321	36

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

Projected returns pro-forma

-3.0% appreciation · 3.31% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-16,893
• Equity at exit: $37,276

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $17,918
• Equity at exit: $21,615

Cash invested: $70,000 (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 08638

• Rents YoY: 3.3%
• Active inventory: 83
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,535 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$229 /mo · $2,745/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $359

Break-even live

Break-even rent $2,081

Max offer price $250,000

Occupancy floor 81%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	14d	1	0.02mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	14d	1	0.22mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	0.24mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	14d	1	0.60mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	14d	1	0.64mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	14d	1	0.66mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	21d	1	0.79mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	0.81mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	0.81mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	14d	1	0.84mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	14d	1	1.09mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	1.11mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	1.16mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	1.16mi
319 Rutherford Ave Trenton, NJ	4.0	2.0	1100	$2,200	$2.00	21d	1	1.23mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	14d	1	1.28mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	14d	1	1.35mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	14d	1	1.36mi
510 N Hermitage Ave Trenton, NJ	5.0	1.5	1316	$2,500	$1.90	13d	1	1.40mi
311 Spring St Trenton, NJ	3.0	1.0	1200	$2,200	$1.83	14d	1	1.45mi
186 Passaic St Trenton, NJ	3.0	2.0	1064	$2,400	$2.26	4d	1	1.46mi

Listing history 25 events

1. 2026-06-02
   days on market $250,000 Active 14 DOM
2. 2026-06-01
   days on market $250,000 Active 13 DOM
3. 2026-05-31
   days on market $250,000 Active 12 DOM
4. 2026-05-30
   days on market $250,000 Active 11 DOM
5. 2026-05-19
   listed $250,000 Active
6. 2026-04-30
   historical
7. 2026-01-28
   listed $259,900 Active
8. 2025-12-10
   soldstatus $120,000
9. 2025-12-10
   soldstatus $120,000
10. 2025-10-10
    soldstatus $120,000 Closed 1127-char remark

    Show marketing remark (1127 chars)

    Investment Opportunity – 3-Story Colonial in Trenton, NJ Welcome to 23 Cain Ave, Trenton, NJ – a spacious 3-story Colonial offering incredible potential for investors. Whether you’re looking for your next buy-and-hold rental or a fix-and-flip project, this property is a strong candidate to generate long-term returns. This classic Colonial features a traditional layout with multiple levels of living space, offering plenty of room for customization and value-add improvements. The property is situated in an established neighborhood, close to schools, shopping, and public transportation, making it an attractive option for both renters and future homeowners. Highlights: 3-story Colonial style home Generous interior square footage with flexible layout Strong rental potential in a high-demand market Excellent candidate for renovation and equity growth Convenient location near major highways and local amenities With the right vision and updates, 23 Cain Ave can become a cash-flowing rental or a profitable resale. Don’t miss the chance to add this versatile investment property to your portfolio.

11. 2025-09-19
    historical Active Under Contract 1127-char remark

    Show marketing remark (1127 chars)

    Investment Opportunity – 3-Story Colonial in Trenton, NJ Welcome to 23 Cain Ave, Trenton, NJ – a spacious 3-story Colonial offering incredible potential for investors. Whether you’re looking for your next buy-and-hold rental or a fix-and-flip project, this property is a strong candidate to generate long-term returns. This classic Colonial features a traditional layout with multiple levels of living space, offering plenty of room for customization and value-add improvements. The property is situated in an established neighborhood, close to schools, shopping, and public transportation, making it an attractive option for both renters and future homeowners. Highlights: 3-story Colonial style home Generous interior square footage with flexible layout Strong rental potential in a high-demand market Excellent candidate for renovation and equity growth Convenient location near major highways and local amenities With the right vision and updates, 23 Cain Ave can become a cash-flowing rental or a profitable resale. Don’t miss the chance to add this versatile investment property to your portfolio.

12. 2025-09-14
    listed $129,999 Active 1127-char remark

    Show marketing remark (1127 chars)

    Investment Opportunity – 3-Story Colonial in Trenton, NJ Welcome to 23 Cain Ave, Trenton, NJ – a spacious 3-story Colonial offering incredible potential for investors. Whether you’re looking for your next buy-and-hold rental or a fix-and-flip project, this property is a strong candidate to generate long-term returns. This classic Colonial features a traditional layout with multiple levels of living space, offering plenty of room for customization and value-add improvements. The property is situated in an established neighborhood, close to schools, shopping, and public transportation, making it an attractive option for both renters and future homeowners. Highlights: 3-story Colonial style home Generous interior square footage with flexible layout Strong rental potential in a high-demand market Excellent candidate for renovation and equity growth Convenient location near major highways and local amenities With the right vision and updates, 23 Cain Ave can become a cash-flowing rental or a profitable resale. Don’t miss the chance to add this versatile investment property to your portfolio.

13. 2024-06-13
    status Pending
14. 2024-06-13
    historical
15. 2024-06-08
    historical Active Under Contract
16. 2024-06-06
    listed $90,000 Active
17. 2009-03-31
    historical
18. 2008-06-29
    listed $75,000
19. 2006-06-05
    historical
20. 2006-05-15
    listed $135,000
21. 2005-09-06
    soldstatus $85,000
22. 2005-08-16
    soldstatus $85,000
23. 2005-06-09
    historical
24. 2005-06-01
    listed $85,000
25. 1979-11-01
    soldstatus $21,900

ⓘ 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: $2,745 · $229/mo
• Projected year-2 tax: $4,485 · $374/mo
• Expected delta: +$1,740/yr (+$145/mo · 63.4%)

ⓘ 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 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,418
• − Mortgage interest: −$14,004
• − Property taxes: −$2,745
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − Depreciation: −$7,273
• Taxable income: $279
• Est. tax owed @ 24.0%: −$67
• After-tax cash flow: $4,236/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: Trenton Public School District
• NCES district ID: 3416290
• Math proficiency: 2% ▼ -8.00%
• Reading proficiency: 16% ▼ -4.00%
• Median HH income: $35,078
• Composite: 7.31/100
• National rank: #9956
• State rank: #471 of 472 in NJ

Livability — Trenton

• Score: 76/100
• State rank: #133
• US rank: #3533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, NJ
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 22,816
• Household income: $66,875
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1185.0

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 0.68)
• Race & ethnicity: Black 43% White 31% Hispanic / Latino 21% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 2% Iranian 1%
• Foreign-born: 24% · Canada, Guatemala, China
• Languages at home: 76% English-only · Spanish 17% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -286.00%
• Current HPI: 334.5143
• Rent YoY: ▲ 3.31%
• Metro: Trenton-Princeton, NJ
• 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

+1041.6% since first listed

21 events — show timeline

• 2026-05-19 Listed $250,000 BRIGHT MLS
• 2026-04-30 Listing Removed — BRIGHT MLS
• 2026-01-28 Listed $259,900 BRIGHT MLS
• 2025-12-10 Sold (Public Records) $120,000 Public Records
• 2025-12-10 Sold (Public Records) $120,000 Public Records
• 2025-10-10 Sold (MLS) $120,000 BRIGHT MLS
• 2025-09-19 Contingent — BRIGHT MLS
• 2025-09-14 Listed $129,999 BRIGHT MLS
• 2024-06-13 Pending — BRIGHT MLS
• 2024-06-13 Listing Removed — BRIGHT MLS
• 2024-06-08 Contingent — BRIGHT MLS
• 2024-06-06 Listed $90,000 BRIGHT MLS
• 2009-03-31 Listing Removed — BRIGHT MLS
• 2008-06-29 Listed $75,000 BRIGHT MLS
• 2006-06-05 Listing Removed — BRIGHT MLS
• 2006-05-15 Listed $135,000 BRIGHT MLS
• 2005-09-06 Sold (Public Records) $85,000 Public Records
• 2005-08-16 Sold (MLS) $85,000 BRIGHT MLS
• 2005-06-09 Listing Removed — BRIGHT MLS
• 2005-06-01 Listed $85,000 BRIGHT MLS
• 1979-11-01 Sold (Public Records) $21,900 Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,745 · +1.5% YoY. Source: county tax records.