1510 Rte 179

West Amwell, NJ 08530

$369,000C-

2 bd · 1.0 ba · 1,077 sqft · Built 1880 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,722/mo
• Mortgage (P&I): −$1,935
• Tax + insurance: −$685
• HOA: −$0
• Vac / Maint / Mgmt: −$782
• Net cashflow: $320/mo
• Annual: $3,842/yr
• Cap rate: 7.33%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• 1% rule: 1.01%
• Cash to close: $103,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $369k.
• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• It's been on market 16 days — a 2% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $363k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• South Hunterdon Regional School District (rural): math 13% / reading 43% proficiency, ranked #335 of 472 in NJ (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 14% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 389 units permitted in Hunterdon County in 2024 (180 in 5+ unit buildings).
• Hunterdon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts 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.
• 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.

Questions for listing agent

• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.