305 Cummings Ave · Trenton, NJ 08611

$198,000

3 bd · 1.0 ba · 1,320 sqft · Townhouse public records · 9 Days on market

Built 1887 1,498 sqft lot Est $249k · 21% 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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently Painted & Newly Carpeted. Large Spacious Rooms With Laundry On First Floor, Walk-Up Attic, Lr/Dr Combo, Eat-In-Kitchen, Newer Windows

Key facts

• Built 1887
• Listed 9 days

Property features AI

Finance

• Other: Fee simple ownership; Property listed in very good condition; Above-grade finished area recorded at 1,320 sq ft (source: Assessor)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse
• Construction: Brick construction; Concrete perimeter foundation
• Exterior features: 15 x 100 lot dimensions

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: 90% forced air heating; Oil-fired heating fuel; Natural gas hot water
• Interior features: Level entry to main floor; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $198k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Cap rate 8.6% vs local median 5.8% in Trenton — 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 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: 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.
• Zoned schools: Franklin Elementary School (math 3% / reading 14%, grade F, #1,261 of 1,303 statewide, top 97%, 349 students, 57% FRL); Dunn Middle School (math 2% / reading 19%, grade F, #424 of 431 statewide, top 98%, 670 students, 60% FRL); Trenton Central High School - Main Campus (math 2% / reading 10%, grade F, #396 of 399 statewide, top 99%, 2,255 students, 56% FRL) — zoned schools average 58% FRL vs 80% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 84 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $2,209/mo this rent would consume 47% of the median local household income ($57k/yr) (locally 2147% 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 $1k of loan paydown is wiped out by about $6k 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 + 4.7% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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 $45k; list at $198k implies a 340% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — 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 $198,000

Questions for the listing agent

1. Built in 1887 — 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: 1.12% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $249,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
814 Chestnut Ave	0.21mi	3/1.5	1,292 (-2%)	0mo	$265,000	$205	85
527 Emory Ave	0.16mi	4/1.0 (+1)	1,484 (+12%)	1mo	$230,000	$155	66
148 Randall Ave	0.64mi	4/1.0 (+1)	1,358 (+3%)	1mo	$247,500	$182	59
175 Anderson St	0.26mi	4/1.0 (+1)	1,136 (-14%)	1mo	$225,000	$198	59
244 Jersey St	0.71mi	3/1.5	1,368 (+4%)	1mo	$200,000	$146	58
1553 Chambers St	0.59mi	3/1.0	1,182 (-10%)	1mo	$225,000	$190	54
744 Chambers St	0.40mi	4/2.0 (+1)	1,458 (+10%)	1mo	$269,000	$184	54
25 Mckinley Ave	0.70mi	4/1.5 (+1)	1,274 (-4%)	0mo	$300,000	$235	54
202 Commonwealth Ave	0.47mi	4/2.0 (+1)	1,456 (+10%)	1mo	$275,000	$189	51
18 Panfili Ln	0.65mi	3/3.0	1,410 (+7%)	1mo	$390,000	$277	50
212 Commonwealth Ave	0.46mi	4/1.5 (+1)	1,496 (+13%)	0mo	$245,000	$164	49
35 Jersey St	0.61mi	4/1.0 (+1)	1,131 (-14%)	0mo	$210,000	$186	42

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-3,995
• Equity at exit: $29,522

10-year hold

• IRR: 9.6%
• Equity multiple: 1.80×
• Total profit: $44,225
• Equity at exit: $17,119

Cash invested: $55,440 (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 08611

• Rents YoY: 4.7%
• Active inventory: 84
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,209 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$244 /mo · $2,933/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $380

Break-even live

Break-even rent $1,728

Max offer price $198,000

Occupancy floor 78%

Sensitivity live

Price	-10% $492	-5% $436	+0% $380	+5% $324	+10% $268
Rent	-10% $205	-5% $293	+0% $380	+5% $467	+10% $554
Rate	-1.0pp $480	-0.5pp $430	base $380	+0.5pp $329	+1.0pp $276

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	15d	1	0.07mi
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	22d	1	0.27mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	22d	1	0.28mi
234 Howell St Trenton, NJ	3.0	3.0	1656	$3,600	$2.17	22d	1	0.36mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	22d	1	0.46mi
203 Genesee St Unit 2 Trenton, NJ	2.0	1.0	1452	$1,700	$1.17	22d	1	0.49mi
1132 Genesee St Unit 1132 Trenton, NJ	3.0	1.0	1198	$2,500	$2.09	22d	1	0.50mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	15d	1	0.51mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	22d	1	0.53mi
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	15d	1	0.54mi
233 Virginia Ave Trenton, NJ	3.0	1.0	1302	$2,500	$1.92	14d	1	0.57mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	22d	1	0.61mi
1078 Lalor St Unit 1 Trenton, NJ	2.0	1.0	1488	$1,895	$1.27	22d	1	0.64mi
1078 Lalor St Unit 2 Trenton, NJ	2.0	1.0	1488	$1,785	$1.20	22d	1	0.64mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	15d	4	0.70mi
244 Jersey St Trenton, NJ	3.0	1.5	1368	$2,300	$1.68	15d	1	0.71mi
973 S Olden Ave Unit 2ND FLOOR Trenton, NJ	2.0	1.0	1664	$1,850	$1.11	22d	1	0.86mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	22d	1	0.88mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	22d	1	0.88mi
547 Centre St Trenton, NJ	3.0	1.0	1060	$1,850	$1.75	22d	1	0.92mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	22d	1	0.95mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	22d	1	1.03mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	22d	1	1.06mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	1.21mi
700 Schiller Ave Trenton, NJ	3.0	1.0	1558	$2,500	$1.60	15d	1	1.23mi
34 Southard St #2 Trenton, NJ	2.0	2.0	1808	$2,150	$1.19	22d	1	1.24mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	15d	1	1.28mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	15d	2	1.29mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	15d	1	1.30mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	1.36mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	15d	1	1.36mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	22d	1	1.41mi

Listing history 14 events

1. 2026-05-21
   status Pending
2. 2026-05-17
   historical Active Under Contract
3. 2026-05-09
   listed $198,000 Active
4. 2026-05-08
   historical $198,000
5. 2001-11-21
   soldstatus $45,000
6. 2001-11-16
   soldstatus $45,000 148-char remark

   Show marketing remark (148 chars)

   Recently Painted & Newly Carpeted. Large Spacious Rooms With Laundry On First Floor, Walk-Up Attic, Lr/Dr Combo, Eat-In-Kitchen, Newer Windows

7. 2001-10-01
   historical 148-char remark

   Show marketing remark (148 chars)

   Recently Painted & Newly Carpeted. Large Spacious Rooms With Laundry On First Floor, Walk-Up Attic, Lr/Dr Combo, Eat-In-Kitchen, Newer Windows

8. 2001-04-23
   listed $45,000 148-char remark

   Show marketing remark (148 chars)

   Recently Painted & Newly Carpeted. Large Spacious Rooms With Laundry On First Floor, Walk-Up Attic, Lr/Dr Combo, Eat-In-Kitchen, Newer Windows

9. 2001-02-26
   soldstatus $19,000 201-char remark

   Show marketing remark (201 chars)

   Well Maintained, Spacious Row Home. New Electrical System, Newer Range And Hot Water Heater. Ceiling Fans, Juge Loft-Potential Bedroom/Office. Great Home Or Investment Property. Must See! Poss:P. O. T.

10. 2001-01-23
    historical 201-char remark

    Show marketing remark (201 chars)

    Well Maintained, Spacious Row Home. New Electrical System, Newer Range And Hot Water Heater. Ceiling Fans, Juge Loft-Potential Bedroom/Office. Great Home Or Investment Property. Must See! Poss:P. O. T.

11. 2000-10-11
    listed $19,000 201-char remark

    Show marketing remark (201 chars)

    Well Maintained, Spacious Row Home. New Electrical System, Newer Range And Hot Water Heater. Ceiling Fans, Juge Loft-Potential Bedroom/Office. Great Home Or Investment Property. Must See! Poss:P. O. T.

12. 2000-09-22
    historical
13. 1999-03-22
    listed $46,900
14. 1987-02-06
    soldstatus $40,250

ⓘ 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: $2,933 · $244/mo
• Projected year-2 tax: $3,932 · $328/mo
• Expected delta: +$998/yr (+$83/mo · 34.0%)

ⓘ 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 ≥102°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: $26,508
• − Mortgage interest: −$11,091
• − Property taxes: −$2,933
• − Insurance: −$990
• − Repairs & maintenance: −$2,121
• − Management: −$2,121
• − Depreciation: −$5,760
• Taxable income: $1,492
• Est. tax owed @ 24.0%: −$358
• After-tax cash flow: $4,200/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): 31,995
• Household income: $56,788
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 2147.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 62% Black 20% Two or more races 18% White 14% Native American 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 2% Swiss 1% Hispanic 1%
• Foreign-born: 37% · Canada, Jamaica, Guatemala
• Languages at home: 41% English-only · Spanish 57% French/Haitian/Cajun 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: ▼ -267.62%
• Current HPI: 276.5427
• Rent YoY: ▲ 4.71%
• 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

+391.9% since first listed

14 events — show timeline

• 2026-05-21 Pending — BRIGHT MLS
• 2026-05-17 Contingent — BRIGHT MLS
• 2026-05-09 Listed $198,000 BRIGHT MLS
• 2026-05-08 Coming Soon $198,000 BRIGHT MLS
• 2001-11-21 Sold (Public Records) $45,000 Public Records
• 2001-11-16 Sold (MLS) $45,000 BRIGHT MLS
• 2001-10-01 Listing Removed — BRIGHT MLS
• 2001-04-23 Listed $45,000 BRIGHT MLS
• 2001-02-26 Sold (MLS) $19,000 BRIGHT MLS
• 2001-01-23 Listing Removed — BRIGHT MLS
• 2000-10-11 Listed $19,000 BRIGHT MLS
• 2000-09-22 Listing Removed — BRIGHT MLS
• 1999-03-22 Listed $46,900 BRIGHT MLS
• 1987-02-06 Sold (Public Records) $40,250 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,933 · +1.5% YoY. Source: county tax records.