1550 E State St · Hamilton, NJ 08609

$195,000

3 bd · 1.5 ba · 1,280 sqft · Townhouse public records · 10 Days on market

Built 1998 3,220 sqft lot Est $234k · 17% under

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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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the potential at 1550 E. State Street! This property was built in the late 1990's and is a wonderful opportunity for an owner occupant or investor. While it has modern construction and mechanics, it needs cosmetic updates and exterior repairs, making it a promising project. Strategically located in Hamilton, this property offers easy access to public transportation, grocery stores, and local businesses. . As you enter the home, you’ll find a spacious living area filled with light. .. .Just one of the amazing benefits of being the end unit. With some updates, this space can be transformed into a cozy gathering area. The kitchen layout provides ample cabinetry, and stainless st

Key facts

• Built 1998
• Listed 10 days

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: End of row townhouse; Fee simple ownership; Finished above-grade area per assessor
• Construction: Built (year source: Assessor); Block and vinyl siding construction; Other type foundation; Other structures above and below grade
• Exterior features: Lot dimensions approximately 23.00 x 140.00; No tidal water

Interior

• Kitchen: Kitchen included (appliance details not provided)
• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom (all upper levels); One half bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Electric cooling
• Interior features: Living room; Dining room; Kitchen; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $627 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hamilton Township Public School District (suburban): math 17% / reading 41% proficiency, ranked #338 of 472 in NJ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 33 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 43% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 3.0% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $64k; list at $195k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major 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 $195,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.27% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $234,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
277 Norway Ave	0.25mi	3/1.5	1,240 (-3%)	0mo	$330,000	$266	83
1109 Nottingham Way	0.11mi	3/1.0	1,198 (-6%)	2mo	$230,000	$192	81
116 Cleveland Ave	0.41mi	3/1.0	1,284 (+0%)	4mo	$215,000	$167	75
233 Park Ln	0.25mi	3/2.0	1,376 (+8%)	1mo	$299,000	$217	73
403 Klag	0.54mi	3/1.0	1,296 (+1%)	1mo	$219,900	$170	70
50 Mechanics Ave	0.48mi	3/1.0	1,200 (-6%)	1mo	$117,500	$98	64
1267 Nottingham Way	0.22mi	4/1.0 (+1)	1,102 (-14%)	3mo	$202,000	$183	57
55 S Olden Ave	0.54mi	3/2.0	1,410 (+10%)	0mo	$265,000	$188	56
235 Darcy Ave	0.70mi	4/2.0 (+1)	1,290 (+1%)	6mo	$380,000	$295	54
321 Cleveland Ave	0.57mi	4/1.0 (+1)	1,391 (+9%)	2mo	$233,000	$168	50
30 Mechanics Ave	0.49mi	3/1.5	1,092 (-15%)	5mo	$103,200	$95	48
251 S Walter Ave	0.69mi	3/1.5	1,152 (-10%)	7mo	$143,000	$124	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.15×
• Total profit: $8,343
• Equity at exit: $29,075

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $58,764
• Equity at exit: $16,860

Cash invested: $54,600 (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 08609

• Home prices YoY: -29.3%
• Active inventory: 33
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,473 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $627

Break-even live

Break-even rent $1,680

Max offer price $195,000

Occupancy floor 70%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	14d	1	0.26mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	14d	1	0.26mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	21d	1	0.32mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	21d	1	0.34mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	14d	1	0.38mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	14d	1	0.40mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	14d	1	0.40mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	0.52mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	14d	1	0.56mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	21d	1	0.68mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	0.76mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	21d	1	0.81mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	14d	1	0.92mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.98mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	14d	1	1.08mi
210 Kuser Rd Trenton, NJ	3.0	1.5	1360	$2,700	$1.99	21d	1	1.10mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	14d	1	1.11mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	1.12mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	1.15mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	21d	1	1.17mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	14d	1	1.22mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	14d	1	1.25mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	21d	1	1.26mi
756 Cherry Tree Ln Lawrence Township, NJ	2.0	1.0	1207	$2,200	$1.82	14d	1	1.26mi
973 S Olden Ave Unit 2ND FLOOR Trenton, NJ	2.0	1.0	1664	$1,850	$1.11	21d	1	1.31mi
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	21d	1	1.34mi
34 Southard St #2 Trenton, NJ	2.0	2.0	1808	$2,150	$1.19	21d	1	1.37mi

Listing history 9 events

1. 2026-06-18
   days on market $195,000 Coming Soon 10 DOM
2. 2026-06-17
   days on market $195,000 Coming Soon 9 DOM
3. 2026-06-16
   days on market $195,000 Coming Soon 8 DOM
4. 2026-06-15
   days on market $195,000 Coming Soon 7 DOM
5. 2026-06-14
   days on market $195,000 Coming Soon 5 DOM
6. 2026-06-13
   days on market $195,000 Coming Soon 4 DOM
7. 2026-06-10
   days on market $195,000 Coming Soon 2 DOM
8. 2026-06-09
   remarks 693-char remark
9. 2026-06-09
   listed $195,000 Coming Soon 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: $1,884 · $157/mo
• Projected year-2 tax: $3,370 · $281/mo
• Expected delta: +$1,486/yr (+$124/mo · 78.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $29,681
• − Mortgage interest: −$10,923
• − Property taxes: −$1,884
• − Insurance: −$1,772
• − Repairs & maintenance: −$2,374
• − Management: −$2,374
• − Depreciation: −$5,673
• Taxable income: $4,680
• Est. tax owed @ 24.0%: −$1,123
• After-tax cash flow: $6,397/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: Hamilton Township Public School District
• NCES district ID: 3406540
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $71,425
• Composite: 27.33/100
• National rank: #6990
• State rank: #338 of 472 in NJ

Livability — Hamilton

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

Census & demographics

• County: Mercer County · 327,655 people
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 15,938
• Household income: $68,238
• Rent vs Own: 70.2% rent · 29.8% own
• Severe rent burden: 930.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 45% Black 43% Two or more races 12% White 8% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 11%
• Common ancestry: Hispanic 5% Swiss 2% Estonian 1%
• Foreign-born: 32% · Canada, Guatemala, China
• Languages at home: 51% English-only · Spanish 41% French/Haitian/Cajun 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: ▼ -114.12%
• Current HPI: 275.8566
• Rent YoY: —
• 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

+205.6% since first listed

2 events — show timeline

• 2026-06-08 Coming Soon $195,000 BRIGHT MLS
• 1999-02-03 Sold (Public Records) $63,800 Public Records

Property tax history

-2.4%/yr

Latest (2025): $1,884 · +5.2% YoY. Source: county tax records.