314 S Main St · Phillipsburg, NJ 08865-2824

$459,000

5 bd · 4.0 ba · 3,500 sqft · MultiFamily · 86 Days on market

Built 1900 Good condition 2,178 sqft lot $131/sqft · at area comps Est $454k · at est.

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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 +19.2/30.0
• ARV discount +7.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Updated and well-maintained mixed-use commercial property in Phillipsburg. Features 3 units including a storefront and two residential apartments (2-bedroom unit on the second floor and 3-bedroom unit on the third floor). All units have separate meters, with tenants responsible for all utilities including water/sewer. Natural gas heat and central air in each unit. Property offers 3 off-street parking spaces in the rear and is a low-maintenance, turnkey investment opportunity that's fully rented and income producing. Conveniently located within walking distance to Shappell Park, shops & restaurants. Per seller, property underwent a major renovation between 2006"2008 including updates to plumbing, electric, HVAC, roof, and more. Buyer responsible to verify all information. Property being sold strictly as-is.

Key facts

• Natural gas heat
• Three units
• Central air

Tags

• THREE UNITS
• SEPARATE METERS
• NATURAL GAS HEAT
• CENTRAL AIR
• OFF-STREET PARKING
• TURNKEY INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $459k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $459k).
• Recommended offer: $431k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.7% in Phillipsburg — 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 (#135 in NJ, #3,552 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools C-, commute F.
• Phillipsburg School District (suburban): math 17% / reading 37% proficiency, ranked #381 of 472 in NJ (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 630 units permitted in Warren County in 2024 (315 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($3k loan paydown + $14k appreciation (3.0% local appreciation)).
• Warren County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $129k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($431k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.01% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $453,761
• List price: $459,000
• Delta: 1.15%
• Verdict: FAIR
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.8%
• Equity multiple: 1.68×
• Total profit: $87,050
• Equity at exit: $206,386

10-year hold

• IRR: 14.0%
• Equity multiple: 3.07×
• Total profit: $265,649
• Equity at exit: $318,066

Cash invested: $128,520 (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 08865-2824

• Active inventory: 1
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $4,645 high
• Mortgage (P&I): −$2,407
• Tax est. 1.5%: −$574 /mo · $6,885/yr
• Insurance: −$191
• HOA: −$0
• Vacancy / Maint / Mgmt: −$975
• Net cashflow: $498

Break-even live

Break-even rent $4,015

Max offer price $459,000

Occupancy floor 84%

Sensitivity live

Price	-10% $815	-5% $656	+0% $498	+5% $339	+10% $180
Rent	-10% $131	-5% $314	+0% $498	+5% $681	+10% $864
Rate	-1.0pp $729	-0.5pp $614	base $498	+0.5pp $379	+1.0pp $258

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,282
1× unit	3	1	$2,363
Total (2 units)			$4,645

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: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 E Burke St Easton, PA	5.0	3.5	3367	$4,250	$1.26	3d	1	1.33mi

Listing history 17 events

1. 2026-06-18
   days on market $459,000 Active 86 DOM
2. 2026-06-17
   days on market $459,000 Active 85 DOM
3. 2026-06-16
   days on market $459,000 Active 84 DOM
4. 2026-06-15
   days on market $459,000 Active 83 DOM
5. 2026-06-14
   days on market $459,000 Active 81 DOM
6. 2026-06-13
   days on market $459,000 Active 80 DOM
7. 2026-06-10
   days on market $459,000 Active 78 DOM
8. 2026-06-09
   days on market $459,000 Active 77 DOM
9. 2026-06-08
   days on market $459,000 Active 76 DOM
10. 2026-06-07
    days on market $459,000 Active 75 DOM
11. 2026-06-05
    days on market $459,000 Active 72 DOM
12. 2026-06-03
    days on market $459,000 Active 71 DOM
13. 2026-06-02
    days on market $459,000 Active 70 DOM
14. 2026-06-01
    days on market $459,000 Active 69 DOM
15. 2026-05-31
    days on market $459,000 Active 68 DOM
16. 2026-05-31
    days on market $459,000 Active 67 DOM
17. 2026-03-24
    listed $459,000 Active 826-char remark

    Show marketing remark (826 chars)

    Updated and well-maintained mixed-use commercial property in Phillipsburg. Features 3 units including a storefront and two residential apartments (2-bedroom unit on the second floor and 3-bedroom unit on the third floor). All units have separate meters, with tenants responsible for all utilities including water/sewer. Natural gas heat and central air in each unit. Property offers 3 off-street parking spaces in the rear and is a low-maintenance, turnkey investment opportunity that's fully rented and income producing. Conveniently located within walking distance to Shappell Park, shops & restaurants. Per seller, property underwent a major renovation between 2006"2008 including updates to plumbing, electric, HVAC, roof, and more. Buyer responsible to verify all information. Property being sold strictly as-is.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,740
• − Mortgage interest: −$25,711
• − Property taxes: −$6,885
• − Insurance: −$2,295
• − Repairs & maintenance: −$4,459
• − Management: −$4,459
• − Depreciation: −$13,353
• Taxable loss: −$1,422
• Est. tax savings @ 24.0%: +$341
• After-tax cash flow: $6,311/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

A well-maintained multi-family property with 3 units, including a storefront and two residential apartments. Minor repairs and updates to the exterior and interior would significantly enhance its value.

Repairs flagged

• Minor Deck — Weathered wood planks
• Minor Stairs — Weathered wood planks

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace deck and stairs — Improves safety and aesthetics
• Both Update kitchen and bathrooms — Modernizes and increases value
• Both Landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Weathered wood planks	Minor	$500–3,000
Stairs · Weathered wood planks	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace deck and stairs — Improves safety and aesthetics ↑
• Both Update kitchen and bathrooms — Modernizes and increases value ↑
• Both Landscaping — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Phillipsburg School District
• NCES district ID: 3412960
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $45,364
• Composite: 23.2/100
• National rank: #7943
• State rank: #381 of 472 in NJ

Livability — Phillipsburg

• Score: 76/100
• State rank: #135
• US rank: #3552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phillipsburg, NJ

Population outlook (Warren County) Hauer SSP2

• Today (2025): 105,498 people
• By 2030: 103,974 · -1.4%
• By 2040: 99,748 · -5.5%
• By 2050: 94,535 · -10.4%
• By 2075: 87,220 · -17.3%
• By 2100: 80,421 · -23.8%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-03-24 Listed $459,000 GSMLS