100-102 Thompson St · Salem, NJ 08079

$79,000

6 bd · 2.0 ba · 2,380 sqft · SingleFamily public records · 57 Days on market

Built 1881 3,920 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

2 units side by side duplex in need of a full renovation. Completely AS-IS

Key facts

• Built 1881
• Listed 56 days

Property features AI

Finance

• Other: Year built reported as estimated; Above-grade finished area: 2,380 (assessor); Total below-grade area reported as 0; Property assessed values listed (land and improvement) and recent tax info available
• Financial info: Ownership: Fee simple

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Power/cooling uses natural gas
• Home design: Semi-detached property; Finished above-grade area reported by assessor
• Construction: Brick/mortar and concrete perimeter foundation
• Exterior features: Not in a federal flood zone

Interior

• Bedrooms: 6 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level; 2 full bathrooms total
• Heating & cooling: Heating fuel: Oil; Cooling fuel: Natural Gas; Hot water: Natural Gas; Heating type listed as Other
• Interior features: Unfinished basement; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.1% 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: 100 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,262/mo this rent would consume 50% 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 $246 of equity ($546 loan paydown + $-300 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 17y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $79k implies a 1062% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1881 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $76,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.86% ✓
• Cap rate: 25.14%
• Cash-on-cash: 67.31%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $214,200
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Chestnut St	0.23mi	5/1.0 (-1)	2,401 (+1%)	21mo	$200,000	$83	61
234-236 Church St	0.49mi	5/2.0 (-1)	2,394 (+1%)	17mo	$50,000	$21	57
49 Market St	0.50mi	5/2.5 (-1)	2,459 (+3%)	10mo	$247,000	$100	56
349 E Broadway	0.70mi	5/2.0 (-1)	2,348 (-1%)	16mo	$65,000	$28	47
337 Craven Ave	0.74mi	5/2.0 (-1)	2,205 (-7%)	9mo	$306,000	$139	40
93 7th St	0.63mi	6/2.5	2,042 (-14%)	8mo	$183,000	$90	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: 65.3%
• Equity multiple: 4.22×
• Total profit: $71,152
• Equity at exit: $21,449

10-year hold

• IRR: 67.6%
• Equity multiple: 8.57×
• Total profit: $167,375
• Equity at exit: $24,621

Cash invested: $22,120 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,262 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $1,174

Break-even live

Break-even rent $775

Max offer price $79,000

Occupancy floor 43%

Sensitivity live

Price	-10% $1,229	-5% $1,202	+0% $1,174	+5% $1,147	+10% $1,120
Rent	-10% $996	-5% $1,085	+0% $1,174	+5% $1,264	+10% $1,353
Rate	-1.0pp $1,214	-0.5pp $1,194	base $1,174	+0.5pp $1,154	+1.0pp $1,133

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $79,000 Active 57 DOM
2. 2026-06-17
   days on market $79,000 Active 56 DOM
3. 2026-06-16
   days on market $79,000 Active 55 DOM
4. 2026-06-15
   days on market $79,000 Active 54 DOM
5. 2026-06-13
   days on market $79,000 Active 52 DOM
6. 2026-06-13
   days on market $79,000 Active 51 DOM
7. 2026-06-09
   days on market $79,000 Active 48 DOM
8. 2026-06-08
   days on market $79,000 Active 47 DOM
9. 2026-06-07
   days on market $79,000 Active 46 DOM
10. 2026-06-04
    days on market $79,000 Active 43 DOM
11. 2026-06-03
    days on market $79,000 Active 42 DOM
12. 2026-06-02
    pricedays on market $79,000 Active 41 DOM
13. 2026-06-01
    days on market $84,500 Active 40 DOM
14. 2026-05-31
    days on market $84,500 Active 39 DOM
15. 2026-05-09
    price $84,500
16. 2026-04-22
    listed $85,000 Active
17. 2019-05-13
    historical
18. 2018-12-12
    price $13,000
19. 2018-11-13
    listed $15,000 Active
20. 2018-09-25
    historical
21. 2018-04-07
    price $15,000
22. 2018-04-03
    listed $20,000 Active
23. 2017-09-01
    historical
24. 2017-03-06
    listed $20,000
25. 2015-03-31
    soldstatus $6,800 Sold
26. 2015-03-31
    soldstatus $6,800
27. 2015-03-04
    status Under Contract
28. 2015-03-03
    historical
29. 2015-02-27
    price $6,800
30. 2015-02-27
    status Active
31. 2015-01-12
    historical
32. 2015-01-09
    price $7,000
33. 2015-01-09
    status Active
34. 2015-01-07
    historical
35. 2014-10-15
    status Under Contract
36. 2014-10-03
    price $8,200
37. 2014-09-11
    price $9,800
38. 2014-08-09
    price $10,000
39. 2014-08-01
    status Active
40. 2014-07-21
    status Under Contract
41. 2014-06-26
    price $12,500
42. 2014-06-04
    price $14,500
43. 2014-05-20
    historical
44. 2014-04-28
    listed $15,000 Active
45. 2014-04-28
    listed $6,800
46. 2014-03-25
    listed $15,000
47. 2012-11-29
    historical
48. 2010-11-29
    listed $73,900
49. 2010-06-18
    historical
50. 2009-06-18
    listed $79,900

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 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: $27,139
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$1,192
• − Repairs & maintenance: −$2,171
• − Management: −$2,171
• − Depreciation: −$2,298
• Taxable income: $13,696
• Est. tax owed @ 24.0%: −$3,287
• After-tax cash flow: $10,804/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

+181.7% since first listed

37 events — show timeline

• 2026-05-09 Price Changed $84,500 BRIGHT MLS
• 2026-04-22 Listed $85,000 BRIGHT MLS
• 2019-05-13 Listing Removed — BRIGHT MLS
• 2018-12-12 Price Changed $13,000 BRIGHT MLS
• 2018-11-13 Listed $15,000 BRIGHT MLS
• 2018-09-25 Listing Removed — BRIGHT MLS
• 2018-04-07 Price Changed $15,000 BRIGHT MLS
• 2018-04-03 Listed $20,000 BRIGHT MLS
• 2017-09-01 Listing Removed — BRIGHT MLS
• 2017-03-06 Listed $20,000 BRIGHT MLS
• 2015-03-31 Sold (MLS) $6,800 BRIGHT MLS
• 2015-03-31 Sold (MLS) $6,800 TREND
• 2015-03-04 Pending — TREND
• 2015-03-03 Listing Removed — BRIGHT MLS
• 2015-02-27 Price Changed $6,800 TREND
• 2015-02-27 Relisted — TREND
• 2015-01-12 Delisted — TREND
• 2015-01-09 Price Changed $7,000 TREND
• 2015-01-09 Relisted — TREND
• 2015-01-07 Delisted — TREND
• 2014-10-15 Pending — TREND
• 2014-10-03 Price Changed $8,200 TREND
• 2014-09-11 Price Changed $9,800 TREND
• 2014-08-09 Price Changed $10,000 TREND
• 2014-08-01 Relisted — TREND
• 2014-07-21 Pending — TREND
• 2014-06-26 Price Changed $12,500 TREND
• 2014-06-04 Price Changed $14,500 TREND
• 2014-05-20 Listing Removed — BRIGHT MLS
• 2014-04-28 Listed $6,800 BRIGHT MLS
• 2014-04-28 Listed $15,000 TREND
• 2014-03-25 Listed $15,000 BRIGHT MLS
• 2012-11-29 Listing Removed — BRIGHT MLS
• 2010-11-29 Listed $73,900 BRIGHT MLS
• 2010-06-18 Listing Removed — BRIGHT MLS
• 2009-06-18 Listed $79,900 BRIGHT MLS
• 1997-07-18 Sold (Public Records) $30,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $4,685 · +4.9% YoY. Source: county tax records.