318 English Pl · Liberty Corner, NJ 07920

$415,000

3 bd · 2.0 ba · 1,181 sqft · Condo public records · 6 Days on market

Built 1986

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Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bright and beautiful top-floor condominium in Basking Ridge & acirc; & euro; & trade; s Bernards I Society Hill. Renovated in 2021 thru 2022, this 2-bedroom, 2-bath home features vaulted ceilings, skylights, recessed lighting, and hardwood floors throughout. The open layout includes new kitchen with pull out drawers and all new kitchen appliances, most window have scenic view. Major upgrades include new windows, and a new HVAC unit installed 2023. The primary suite offers a walk-in closet and private bath. Residents have access to a clubhouse, pool, tennis courts, playground and paths within a 43-acre community near Pleasant Valley Park. The location is within a top-rated Blue

Key facts

• New kitchen
• Scenic view
• Renovated in 2021

Tags

• TOP-FLOOR CONDOMINIUM
• RENOVATED IN 2021
• NEW KITCHEN
• SCENIC VIEW
• NEW WINDOWS
• NEW HVAC UNIT

Property features AI

Exterior

• Home design: Built in 1986
• Exterior features: Located in the Basking Ridge subdivision

Interior

• Interior features: Living area of 1,181

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $415k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $397k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (15.7% below list).
• Recommended offer: $350k (15.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bernards Township School District (suburban): math 61% / reading 73% proficiency, ranked #20 of 472 in NJ (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 1% free/reduced lunch — higher-income household profile.
• Market conditions: 20 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 678 units permitted in Somerset County in 2024 (296 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Somerset County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $265k; list at $415k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $349,859 (15.7% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.84% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• GRM: 9.9

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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-73,578
• Equity at exit: $61,878

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-72,081
• Equity at exit: $35,882

Cash invested: $116,200 (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 07920

• Active inventory: 20
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,499 medium
• Mortgage (P&I): −$2,176
• Tax from tax record: −$515 /mo · $6,178/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $-100

Break-even live

Break-even rent $3,625

Max offer price $397,304

Occupancy floor 98%

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
78 Woodward Ln Basking Ridge, NJ	3.0	2.5	1350	$3,350	$2.48	1d	1	0.13mi
330 Penns Way Basking Ridge, NJ	2.0	2.0	1181	$2,550	$2.16	24d	1	0.27mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $415,000 Active 6 DOM
2. 2026-06-17
   days on market $415,000 Active 5 DOM
3. 2026-06-16
   days on market $415,000 Active 4 DOM
4. 2026-06-15
   days on market $415,000 Active 3 DOM
5. 2026-06-13
   remarks 687-char remark
6. 2026-06-13
   listed $415,000 Active 1 DOM

ⓘ 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: $6,178 · $515/mo
• Projected year-2 tax: $8,256 · $688/mo
• Expected delta: +$2,078/yr (+$173/mo · 33.6%)

ⓘ 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 ≥100°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,983
• − Mortgage interest: −$23,246
• − Property taxes: −$6,178
• − Insurance: −$2,075
• − Repairs & maintenance: −$3,359
• − Management: −$3,359
• − Depreciation: −$12,073
• Taxable loss: −$8,306
• Est. tax savings @ 24.0%: +$1,994
• After-tax cash flow: $791/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: Bernards Township School District
• NCES district ID: 3401650
• Math proficiency: 61% ▼ -16.00%
• Reading proficiency: 73% ▼ -8.00%
• Median HH income: $127,623
• Composite: 64.26/100
• National rank: #560
• State rank: #20 of 472 in NJ

Livability — Liberty Corner

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

Census & demographics

• County: Somerset County · 250,349 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 28,753
• Household income: $192,857
• Rent vs Own: 16.4% rent · 83.6% own
• Severe rent burden: 305.0

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 356,675 people
• By 2030: 367,194 · +2.9%
• By 2040: 386,571 · +8.4%
• By 2050: 401,708 · +12.6%
• By 2075: 438,898 · +23.1%
• By 2100: 448,170 · +25.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Asian 24% Two or more races 6% Hispanic / Latino 6% Black 1%
• Common ancestry: Romanian 6% Scotch-Irish 2% Slovak 2%
• Foreign-born: 24% · China, Canada, South Korea
• Languages at home: 72% English-only · Other Indo-European 11% Chinese 7% Spanish 4%

Political lean MEDSL · Somerset

• 2024 margin: D (+13.9) · D 55.7% · R 41.8% · Other 2.5%
• 2008→2024 swing: +7.8pp toward D · 2008: 6.1pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+21.0 2016: D+12.4 2012: D+5.2 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -549.57%
• Current HPI: 237.3061
• Rent YoY: —
• 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

+319.4% since first listed

12 events — show timeline

• 2026-06-13 Listed $415,000 FSBO.com
• 2019-01-30 Sold (Public Records) $265,000 Public Records
• 2019-01-18 Sold (MLS) $265,000 GSMLS
• 2018-12-01 Delisted — GSMLS
• 2018-09-13 Price Changed $284,999 GSMLS
• 2018-09-06 Listed $295,000 GSMLS
• 2004-12-29 Sold (Public Records) $275,000 Public Records
• 2001-07-18 Sold (Public Records) $190,000 Public Records
• 2000-07-14 Sold (Public Records) $162,400 Public Records
• 1987-05-22 Sold (Public Records) $150,000 Public Records
• 1987-05-22 Sold (Public Records) $150,000 Public Records
• 1986-08-05 Sold (Public Records) $98,960 Public Records

Property tax history

+2.7%/yr

Latest (2025): $6,178 · +10.2% YoY. Source: county tax records.