219 Wesley St · Salem, NJ 08079

$130,000

3 bd · 2.0 ba · 1,499 sqft · SingleFamily public records · 29 Days on market

Built 1890 2,378 sqft lot Est $213k · 39% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Great opportunity for investors! This 3-bedroom, 2-bathroom property offers strong rental potential with a tenant already in place. Current occupant pays rent on time, providing immediate income from day one. The home presents a solid layout with ample space and is ideal for those looking to expand their rental portfolio or take on a value-add project. Whether you choose to renovate now or hold as a performing rental, this property offers flexibility and upside potential. Don’t miss this chance to secure an income-producing property with built-in cash flow.

Key facts

• Built 1890
• Listed 29 days

Property features AI

Exterior

• Parking: Alley access
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Fee simple ownership
• Construction: Vinyl siding; Block and brick/mortar foundation; Above-grade and below-grade structures; Built year per assessor
• Exterior features: 17 x 140 lot dimensions

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: 90% forced air heating; Natural gas fuel; Electric hot water
• Interior features: Two or more access exits

🏷️ Possibly a rental listed for sale. The $130,000 price doesn't fit this home's estimated sale value (~$212,858) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 8.4% in Salem — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: schools D, amenities F, commute F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 100 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $405 of equity ($899 loan paydown + $-494 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $85k; list at $130k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• 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 $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 D-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. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.68%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $212,858
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
272 E Broadway	0.15mi	3/2.0	1,500 (+0%)	1mo	$65,000	$43	92
264 E Broadway	0.16mi	3/1.5	1,584 (+6%)	5mo	$150,000	$95	77
363 Grant St	0.44mi	3/2.5	1,424 (-5%)	0mo	$250,000	$176	69
304 New Market St	0.14mi	3/1.0	1,310 (-13%)	4mo	$186,000	$142	65
179 Victory Ave	0.53mi	4/1.5 (+1)	1,449 (-3%)	0mo	$238,000	$164	62
200 N Union St	0.36mi	3/2.0	1,686 (+12%)	2mo	$207,500	$123	61
318 Fenwick Ave	0.38mi	3/1.0	1,344 (-10%)	3mo	$191,250	$142	58
18 Market St	0.60mi	2/1.0 (-1)	1,546 (+3%)	2mo	$235,870	$153	56
178 Cook Ave	0.53mi	3/1.5	1,665 (+11%)	0mo	$255,000	$153	55
410 Magnolia St	0.46mi	2/1.0 (-1)	1,310 (-13%)	1mo	$170,000	$130	48
14 Hillcrest Ave	0.57mi	4/1.0 (+1)	1,649 (+10%)	6mo	$196,000	$119	42
197 Pine Ave	0.74mi	3/1.0	1,318 (-12%)	2mo	$205,000	$156	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.56×
• Total profit: $20,355
• Equity at exit: $35,295

10-year hold

• IRR: 17.2%
• Equity multiple: 2.82×
• Total profit: $66,408
• Equity at exit: $40,516

Cash invested: $36,400 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,692 high
• Mortgage (P&I): −$682
• Tax from tax record: −$186 /mo · $2,235/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $415

Break-even live

Break-even rent $1,167

Max offer price $130,000

Occupancy floor 70%

Sensitivity live

Price	-10% $488	-5% $452	+0% $415	+5% $378	+10% $341
Rent	-10% $281	-5% $348	+0% $415	+5% $482	+10% $549
Rate	-1.0pp $480	-0.5pp $448	base $415	+0.5pp $381	+1.0pp $347

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Sinnickson St Salem, NJ	2.0	1.0	1008	$1,500	$1.49	2d	1	0.03mi
26 Walnut St Unit A Salem, NJ	2.0	1.0	1000	$1,225	$1.23	2d	1	0.11mi
1 9th St Salem, NJ	2.0	1.0	900	$1,450	$1.61	2d	1	0.20mi
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	44d	1	0.23mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	2d	1	0.36mi
242 Grant St Unit 1ST FLOOR Salem, NJ	2.0	1.0	925	$1,675	$1.81	2d	1	0.37mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	6d	1	0.38mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	2d	1	0.60mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	4d	1	0.62mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	3d	1	0.72mi

Listing history 10 events

1. 2026-05-13
   status Pending
2. 2026-04-14
   listed $130,000 Active
3. 2025-05-08
   historical $1,600
4. 2025-02-26
   listed $1,600
5. 2015-02-24
   historical
6. 2014-09-04
   listed $9,400
7. 2011-02-13
   historical
8. 2010-08-13
   listed $69,000
9. 2006-09-06
   soldstatus $85,000
10. 2004-11-17
    soldstatus $17,500

ⓘ 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: $2,235 · $186/mo
• Projected year-2 tax: $2,736 · $228/mo
• Expected delta: +$501/yr (+$42/mo · 22.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 51% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,309
• − Mortgage interest: −$7,282
• − Property taxes: −$2,235
• − Insurance: −$650
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$3,782
• Taxable income: $3,111
• Est. tax owed @ 24.0%: −$747
• After-tax cash flow: $4,232/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: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+642.9% since first listed

10 events — show timeline

• 2026-05-13 Pending — BRIGHT MLS
• 2026-04-14 Listed $130,000 BRIGHT MLS
• 2025-05-08 Rental Removed $1,600 BUILDIUM
• 2025-02-26 Listed for Rent $1,600 BUILDIUM
• 2015-02-24 Listing Removed — BRIGHT MLS
• 2014-09-04 Listed $9,400 BRIGHT MLS
• 2011-02-13 Listing Removed — BRIGHT MLS
• 2010-08-13 Listed $69,000 BRIGHT MLS
• 2006-09-06 Sold (Public Records) $85,000 Public Records
• 2004-11-17 Sold (Public Records) $17,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $2,235 · +4.9% YoY. Source: county tax records.