430 Closter Dock Rd · Closter, NJ 07624

$998,000

4 bd · 3.0 ba · — sqft · MultiFamily · 54 Days on market

Good condition 0.34 ac lot

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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 +14.9/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Rare opportunity to own a lovely 2-family Victorian home in Closter. Well-maintained with a charming wrap-around porch, large, double-wide property, vinyl siding, ducted for central air (needs units), updated kitchens and baths. 1st floor rental is an open floor plan w/ 1-bedroom, Living Room, Kitchen w/ granite counter, woodburning Fireplace, Full Bath and washer/dryer in unit. 2nd/3rd Floor unit has 3 bedrooms, 2 Baths, Living Room * , Kitchen w/ granite counters, Full Bath and washer/dryer in unit. * Living Room and a Full Bath are on 3rd Floor w/ deck access. Ample Parking for both unitsAnd shared yard use. Can be converted back to a 1-family (with a zoning permit). Full, unfinished bas

Key facts

• Double-wide property
• Open floor plan
• Updated baths

Tags

• WRAP-AROUND PORCH
• DOUBLE-WIDE PROPERTY
• VINYL SIDING
• UPDATED KITCHENS
• UPDATED BATHS
• OPEN FLOOR PLAN

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: 4 parking spaces
• Utilities: Electricity connected; Other utilities — see remarks
• Home design: Residential income property; Multi-family

Interior

• Bathrooms: 3 full bathrooms
• Interior features: 9 total rooms
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 1×3bd/1.5ba units multifamily listed at $998k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive. Per door: $147/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $910k (8.8% below list).
• Recommended offer: $910k (8.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#179 in NJ, #4,797 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: amenities D+, commute F, cost of living F.
• Northern Valley Regional High School District (suburban): math 58% / reading 71% proficiency, ranked #30 of 472 in NJ (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Hillside Elementary School (math 68% / reading 70%, grade A-, #32 of 1,303 statewide, top 3%, 623 students, 1% FRL); Tenakill Middle School (math 60% / reading 65%, grade B+, #32 of 431 statewide, top 7%, 575 students, 2% FRL); Northern Valley Regional High School At Demarest (math 64% / reading 76%, grade B+, #29 of 399 statewide, top 7%, 978 students, 1% FRL) — zoned schools at 1% FRL track the district average.
• Market conditions: 22 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($968k) is reasonable based on typical stale-listing flexibility.

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 $910,300 (8.8% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.26%
• DSCR: 1.06
• GRM: 9.1

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-142,830
• Equity at exit: $148,805

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-99,670
• Equity at exit: $86,289

Cash invested: $279,440 (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 07624

• Active inventory: 22
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $9,103 high
• Mortgage (P&I): −$5,234
• Tax est. 1.5%: −$1,248 /mo · $14,970/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,912
• Net cashflow: $294

Break-even live

Break-even rent $8,730

Max offer price $998,000

Occupancy floor 92%

Sensitivity live

Price	-10% $984	-5% $639	+0% $294	+5% $-50	+10% $-395
Rent	-10% $-425	-5% $-65	+0% $294	+5% $654	+10% $1,014
Rate	-1.0pp $797	-0.5pp $548	base $294	+0.5pp $36	+1.0pp $-227

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$4,089
1× unit	3	1.5	$5,014
Total (2 units)			$9,103

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: $249,500
• Closing costs: $29,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Clarke St Closter, NJ	3.0	2.5	—	$5,500	—	6d	1	0.12mi
20 4th St Closter, NJ	4.0	3.0	—	$6,000	—	0d	1	0.22mi
472 High St Closter, NJ	5.0	4.5	—	$25,000	—	0d	1	0.27mi
19 Vivian Ln Closter, NJ	3.0	2.5	—	$5,000	—	14d	1	0.41mi
218 Closter Dock Rd #1 Closter, NJ	3.0	1.0	—	$2,700	—	5d	1	0.49mi
8 Halsey Ln Closter, NJ	3.0	3.0	—	$5,500	—	0d	1	0.55mi
71 Everett St Closter, NJ	3.0	1.0	—	$4,500	—	14d	1	0.63mi
352 Durie Ave Closter, NJ	4.0	2.0	—	$4,600	—	0d	1	0.66mi
352 Durie Ave Closter, NJ	4.0	2.0	—	$4,900	—	12d	1	0.66mi
242 Hardenburgh Ave Demarest, NJ	5.0	4.5	—	$20,000	—	0d	1	0.66mi
684 Closter Dock Rd Closter, NJ	4.0	2.5	—	$8,985	—	0d	1	0.68mi
33 Mattocks Pl Closter, NJ	3.0	2.0	—	$5,000	—	0d	1	0.74mi
57 Eckerson Ave Closter, NJ	4.0	2.5	—	$6,200	—	0d	1	0.80mi
289 Hardenburgh Ave Demarest, NJ	3.0	1.5	—	$4,800	—	26d	1	0.84mi
69 Storig Ave Closter, NJ	4.0	3.5	—	$8,500	—	12d	1	0.86mi
48 Stelfox St Demarest, NJ	5.0	3.5	—	$7,000	—	0d	1	0.90mi
373 Franklin St Haworth, NJ	3.0	3.0	—	$6,500	—	0d	1	0.94mi
85 Serpentine Rd Demarest, NJ	4.0	2.0	—	$5,300	—	6d	1	0.94mi
4 Lois Ave Demarest, NJ	4.0	2.5	—	$6,500	—	17d	1	0.95mi
24 Ruth Ln Demarest, NJ	3.0	2.5	—	$3,900	—	13d	1	0.97mi
23 Asmus Rd Closter, NJ	4.0	2.0	—	$5,950	—	0d	1	0.97mi
6 Rose Ct Closter, NJ	3.0	2.0	—	$5,800	—	0d	1	1.01mi
377 Ruckman Rd Closter, NJ	5.0	5.0	—	$11,000	—	26d	1	1.03mi
99 Knickerbocker Rd Demarest, NJ	3.0	2.0	—	$4,700	—	14d	1	1.07mi
12 Madison Ave Haworth, NJ	3.0	2.0	—	$5,300	—	0d	1	1.08mi
45 Lenox Ave Demarest, NJ	4.0	2.0	—	$8,000	—	0d	1	1.14mi
2 Eisenhower Rd Closter, NJ	3.0	2.5	—	$4,900	—	0d	1	1.16mi
8 Brook Way Demarest, NJ	4.0	2.0	—	$7,500	—	14d	1	1.18mi
43 Mountain View Rd Demarest, NJ	5.0	5.0	—	$11,000	—	20d	1	1.21mi
716 Holly Ct Unit 716 Norwood, NJ	5.0	4.5	—	$7,000	—	18d	1	1.22mi
59 Forest St Closter, NJ	5.0	2.5	—	$4,500	—	0d	1	1.24mi
11 Evans Rd Cresskill, NJ	4.0	2.5	—	$5,500	—	0d	1	1.29mi
24 Elmwood Ter Cresskill, NJ	3.0	1.0	—	$4,200	—	9d	1	1.35mi
20 Elmwood Ter Cresskill, NJ	5.0	2.0	—	$6,700	—	0d	1	1.36mi
408 Dogwood Ct Unit T075 Norwood, NJ	3.0	3.5	—	$4,950	—	0d	1	1.36mi
205 Beech Ct Norwood, NJ	3.0	3.5	—	$5,000	—	20d	1	1.43mi
59 Delmar Ave Cresskill, NJ	4.0	2.0	—	$5,500	—	0d	1	1.44mi
363 Valley Rd Haworth, NJ	3.0	3.0	—	$5,500	—	25d	1	1.44mi
32 Beechwood Rd Cresskill, NJ	4.0	2.0	—	$4,900	—	22d	1	1.47mi
3 Burton Pl Cresskill, NJ	3.0	2.0	—	$5,000	—	0d	1	1.47mi

Listing history 18 events

1. 2026-06-21
   days on market $998,000 Active 54 DOM
2. 2026-06-21
   days on market $998,000 Active 53 DOM
3. 2026-06-18
   days on market $998,000 Active 51 DOM
4. 2026-06-17
   days on market $998,000 Active 50 DOM
5. 2026-06-16
   days on market $998,000 Active 49 DOM
6. 2026-06-15
   days on market $998,000 Active 48 DOM
7. 2026-06-13
   days on market $998,000 Active 46 DOM
8. 2026-06-12
   days on market $998,000 Active 45 DOM
9. 2026-06-09
   days on market $998,000 Active 42 DOM
10. 2026-06-08
    days on market $998,000 Active 41 DOM
11. 2026-06-07
    days on market $998,000 Active 40 DOM
12. 2026-06-05
    days on market $998,000 Active 38 DOM
13. 2026-06-04
    days on market $998,000 Active 37 DOM
14. 2026-06-03
    days on market $998,000 Active 36 DOM
15. 2026-06-02
    days on market $998,000 Active 35 DOM
16. 2026-06-01
    days on market $998,000 Active 34 DOM
17. 2026-05-31
    days on market $998,000 Active 33 DOM
18. 2026-04-28
    listed $998,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 4/10 Moderate 3 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $109,236
• − Mortgage interest: −$55,904
• − Property taxes: −$14,970
• − Insurance: −$4,990
• − Repairs & maintenance: −$8,739
• − Management: −$8,739
• − Depreciation: −$29,033
• Taxable loss: −$13,138
• Est. tax savings @ 24.0%: +$3,153
• After-tax cash flow: $6,686/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 80/100 Cosmetic rehab

A well-maintained 2-family Victorian home with updated kitchens and baths, offering a good investment opportunity.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace central air units — Modern units improve comfort and energy efficiency
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace central air units — Modern units improve comfort and energy efficiency ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: Northern Valley Regional High School District
• NCES district ID: 3411760
• Math proficiency: 58% ▼ -14.00%
• Reading proficiency: 71% ▼ -16.00%
• Median HH income: $126,292
• Composite: 62.05/100
• National rank: #717
• State rank: #30 of 472 in NJ

Livability — Closter

• Score: 74/100
• State rank: #179
• US rank: #4797

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Closter, NJ
• City population: 8,544
• Population (ZIP): 8,544

Population outlook (Bergen County) Hauer SSP2

• Today (2025): 1,021,896 people
• By 2030: 1,063,119 · +4.0%
• By 2040: 1,146,566 · +12.2%
• By 2050: 1,229,132 · +20.3%
• By 2075: 1,429,694 · +39.9%
• By 2100: 1,547,614 · +51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Asian 32% Hispanic / Latino 10% Two or more races 8% Black 3% Native American 2%
• Hispanic origin (detail): Cuban 2% Dominican 3%
• Common ancestry: Scotch-Irish 2% Romanian 2% Lithuanian 2%
• Foreign-born: 33% · South Korea, Canada, China
• Languages at home: 52% English-only · Korean 21% Spanish 8% Other Indo-European 7%

Political lean MEDSL · Bergen

• 2024 margin: Toss-up / Even · D 50.7% · R 47.3% · Other 2.0%
• 2008→2024 swing: -6.1pp toward R · 2008: 9.5pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+16.4 2016: D+12.0 2012: D+10.8 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -395.39%
• Current HPI: 322.9162
• 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

• 2026-04-28 Listed $998,000 NJMLS