118 CORBIN Ave #402 · Jersey City, NJ 07306

$220,000

1 bd · 1.0 ba · 572 sqft · Condo public records · 59 Days on market

Built 1900

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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 +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This Pre-War Building features a laundry room in the basement, original parquet floors, ceramic tile floors in kitchens, 4 blocks to JSQ Path, and local stores. Mahatma K. Gandhi School - Ps 23 0.1 mi Primary Middle: Pre K to 8 Liberty High School 0.3 mi High: 9 to 12

Key facts

• Laundry room
• Ceramic tile floors
• Listed 58 days

Tags

• LAUNDRY ROOM
• ORIGINAL PARQUET FLOORS
• CERAMIC TILE FLOORS

Property features AI

Finance

• Other: Located in Jersey City (Journal Square), between Pavonia and Broadway (Block 9305)
• HOA & community: Managed by Denali (888-315-7773); Maintenance covers heat, water and hot water

Exterior

• Parking: No parking
• Security: Building security
• Utilities: Hot water included in maintenance; Heat included in maintenance; Water included in maintenance
• Home design: Condo/Co-op unit
• Construction: Brick and stone construction; Lead paint disclosure on file
• Exterior features: Brick and stone exterior; Near train, shopping, bus, parks, schools, and PATH

Interior

• Kitchen: Refrigerator; Gas oven/range
• Bedrooms: 1 bedroom
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Window A/C; Gas heating
• Interior features: Hardwood floor; Refrigerator; Gas oven/range
• Laundry & utility: Washer/dryer room in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 1.8% in Jersey City — 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 77/100 on livability (#116 in NJ, #2,955 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Jersey City Public Schools (urban): math 16% / reading 38% proficiency, ranked #369 of 472 in NJ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 219 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• This rent runs 39% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $220k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $213,400 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 1.11% ✓
• Cap rate: 5.52%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-45,098
• Equity at exit: $32,803

10-year hold

• IRR: -15.3%
• Equity multiple: 0.14×
• Total profit: $-52,783
• Equity at exit: $19,022

Cash invested: $61,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 6 Strongly Tenant-Friendly
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City Jersey City: 6 Strongly Tenant-Friendly · D+34

Rent Control Ordinance covers buildings 4+ units pre-1986.

Methodology + full state rankings →

ZIP-level market 07306

• Rents YoY: 2.6%
• Active inventory: 219
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,450 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$324 /mo · $3,885/yr
• Insurance: −$92
• HOA est. from 2 same-building comps: −$507
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-141

Break-even live

Break-even rent $2,628

Max offer price $195,127

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-79	+0% $-141	+5% $-203	+10% $-265
Rent	-10% $-334	-5% $-238	+0% $-141	+5% $-44	+10% $53
Rate	-1.0pp $-30	-0.5pp $-85	base $-141	+0.5pp $-198	+1.0pp $-256

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Corbin Ave #303 Jersey City, NJ	1.0	1.0	405	$1,800	$4.44	22d	1	0.03mi
135 Van Wagenen Ave Unit 4B Jersey City, NJ	2.0	1.0	661	$2,400	$3.63	15d	1	0.05mi
46 Broadway #3 Jersey City, NJ	1.0	1.0	700	$1,700	$2.43	0d	1	0.06mi
75 Broadway Jersey City, NJ	1.0	1.0	600	$2,200	$3.67	0d	1	0.09mi
161 Van Wagenen Ave Jersey City, NJ	1.0	1.0	601	$2,912	$4.85	6d	6	0.10mi
2976 John F Kennedy Blvd Jersey City, NJ	2.0	1.0	675	$3,000	$4.44	12d	1	0.15mi
121 Garrison Ave #204 Jersey City, NJ	2.0	1.0	685	$2,300	$3.36	9d	1	0.17mi
80 Romaine Ave Jersey City, NJ	2.0	1.0	658	$2,950	$4.48	25d	1	0.18mi
80 Romaine Ave Jersey City, NJ	2.0	1.0	671	$2,750	$4.10	5d	1	0.18mi
76 Romaine Ave Unit 3F Jersey City, NJ	2.0	1.0	535	$2,325	$4.35	25d	1	0.18mi
25 Senate Pl Jersey City, NJ	1.0	1.0	726	$2,995	$4.12	0d	9	0.20mi
43-49 Van Wagenen Ave Unit 3D Jersey City, NJ	2.0	1.0	680	$2,250	$3.31	25d	1	0.22mi
42 Van Wagenen Ave #14 Jersey City, NJ	2.0	1.0	700	$2,395	$3.42	6d	1	0.25mi
271 Sip Ave Jersey City, NJ	1.0	1.0	623	$2,400	$3.85	4d	1	0.26mi
66 Wallis Ave Unit 2E Jersey City, NJ	2.0	1.0	750	$1,950	$2.60	25d	1	0.27mi
2935 John F. Kennedy Blvd Jersey City, NJ	1.0	1.0	719	$3,240	$4.50	0d	7	0.32mi
7 Skillman Ave #201 Jersey City, NJ	1.0	1.0	619	$2,150	$3.47	25d	1	0.33mi
2976 John F. Kennedy Blvd Unit 2 Union City, NJ	2.0	1.0	675	$3,400	$5.04	25d	1	0.37mi
308 Academy St Unit 202 Jersey City, NJ	1.0	1.0	575	$2,625	$4.57	0d	1	0.37mi
76 Cottage St Jersey City, NJ	2.0	1.0	650	$2,799	$4.31	25d	7	0.38mi
2950 John F. Kennedy Blvd Unit 1002 1 Bedroom Jersey City, NJ	1.0	1.0	680	$3,100	$4.56	25d	1	0.38mi
2950 John F. Kennedy Blvd Unit 708 Studio Jersey City, NJ	—	1.0	500	$2,500	$5.00	25d	1	0.38mi
2950 John F. Kennedy Blvd Unit 1102 1 Bedroom Jersey City, NJ	1.0	1.0	680	$3,500	$5.15	25d	1	0.39mi
2950 John F. Kennedy Blvd Unit 605 Studio Jersey City, NJ	—	1.0	500	$3,000	$6.00	25d	1	0.39mi
75 Liberty Ave Jersey City, NJ	1.0–2.0	1.0–2.0	863	$2,250	$2.61	7d	3	0.39mi
2950 John F. Kennedy Blvd Unit 808 Studio Jersey City, NJ	—	1.0	500	$3,050	$6.10	25d	1	0.40mi
36 Journal Square Plz Jersey City, NJ	3.0	1.0–2.0	879	$4,563	$5.19	0d	117	0.42mi
165 Vroom St Unit 4C Jersey City, NJ	1.0	1.0	562	$2,200	$3.91	25d	1	0.42mi
56 Cottage St Jersey City, NJ	—	1.0	414	$2,200	$5.31	25d	2	0.43mi
56 Cottage St Unit 101 Jersey City, NJ	—	1.0	443	$2,250	$5.08	18d	1	0.43mi
244 Saint Pauls Ave Jersey City, NJ	1.0	1.0	582	$3,025	$5.20	0d	3	0.45mi
43 Cottage St Apt 2322 Jersey City, NJ	—	1.0	397	$2,550	$6.42	0d	1	0.46mi
228 Saint Pauls Ave Unit 501 Jersey City, NJ	—	1.0	500	$2,700	$5.40	25d	1	0.46mi
43 Cottage St Unit 2507 Jersey City, NJ	—	1.0	403	$2,575	$6.39	25d	1	0.46mi
43 Cottage St Unit 2503 Jersey City, NJ	—	1.0	383	$2,450	$6.40	25d	1	0.46mi
43 Cottage St Unit 2123 Jersey City, NJ	—	1.0	373	$2,425	$6.50	25d	1	0.46mi
43 Cottage St Unit 2522 Jersey City, NJ	—	1.0	397	$2,550	$6.42	25d	1	0.46mi
43 Cottage St Unit 709 Jersey City, NJ	1.0	1.0	470	$2,800	$5.96	25d	1	0.46mi
43 Cottage St Unit 2518 Jersey City, NJ	—	1.0	414	$2,600	$6.28	25d	1	0.46mi
43 Cottage St Unit 2203 Jersey City, NJ	—	1.0	383	$2,400	$6.27	25d	1	0.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $220,000 Active 59 DOM
2. 2026-06-18
   days on market $220,000 Active 56 DOM
3. 2026-06-17
   days on market $220,000 Active 55 DOM
4. 2026-06-16
   days on market $220,000 Active 54 DOM
5. 2026-06-15
   days on market $220,000 Active 53 DOM
6. 2026-06-13
   days on market $220,000 Active 51 DOM
7. 2026-06-13
   days on market $220,000 Active 50 DOM
8. 2026-06-09
   days on market $220,000 Active 47 DOM
9. 2026-06-08
   days on market $220,000 Active 46 DOM
10. 2026-06-07
    pricedays on market $220,000 Active 45 DOM
11. 2026-06-04
    days on market $235,000 Active 42 DOM
12. 2026-06-03
    days on market $235,000 Active 41 DOM
13. 2026-06-02
    days on market $235,000 Active 40 DOM
14. 2026-06-01
    days on market $235,000 Active 39 DOM
15. 2026-05-31
    days on market $235,000 Active 38 DOM
16. 2026-04-24
    listed $235,000 Active
17. 2024-10-09
    historical
18. 2024-09-10
    listed $200,000 Active
19. 2016-05-24
    soldstatus $115,000
20. 2016-05-24
    soldstatus $118,000
21. 2014-04-29
    soldstatus $87,500
22. 2013-06-21
    historical
23. 2013-04-04
    listed $99,000
24. 2013-03-01
    historical
25. 2012-10-15
    listed $95,000
26. 2012-09-01
    historical
27. 2012-03-04
    listed $115,000

ⓘ 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: $3,885 · $324/mo
• Projected year-2 tax: $4,682 · $390/mo
• Expected delta: +$796/yr (+$66/mo · 20.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,398
• − Mortgage interest: −$12,323
• − Property taxes: −$3,885
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − HOA: −$6,084
• − Depreciation: −$6,400
• Taxable loss: −$5,099
• Est. tax savings @ 24.0%: +$1,224
• After-tax cash flow: $-466/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: Jersey City Public Schools
• NCES district ID: 3407830
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $58,431
• Composite: 24.43/100
• National rank: #7678
• State rank: #369 of 472 in NJ

Livability — Jersey City

• Score: 77/100
• State rank: #116
• US rank: #2955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jersey City, NJ
• County: Hudson County · 718,323 people
• City population: 294,078
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 54,017
• Household income: $74,953
• Rent vs Own: 75.8% rent · 24.2% own
• Severe rent burden: 4050.0

Population outlook (Hudson County) Hauer SSP2

• Today (2025): 771,834 people
• By 2030: 818,028 · +6.0%
• By 2040: 907,866 · +17.6%
• By 2050: 994,480 · +28.8%
• By 2075: 1,163,301 · +50.7%
• By 2100: 1,254,703 · +62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Asian 33% White 25% Hispanic / Latino 25% Two or more races 15% Black 12% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Dominican 6%
• Common ancestry: Romanian 2% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 51% · Canada, China, Jamaica
• Languages at home: 38% English-only · Spanish 20% Other Indo-European 18% Arabic 8%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -219.21%
• Current HPI: 352.909
• Rent YoY: ▲ 2.65%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+104.3% since first listed

12 events — show timeline

• 2026-04-24 Listed $235,000 HCMLS
• 2024-10-09 Listing Removed — HCMLS
• 2024-09-10 Listed $200,000 HCMLS
• 2016-05-24 Sold (Public Records) $118,000 Public Records
• 2016-05-24 Sold (Public Records) $115,000 Public Records
• 2014-04-29 Sold (Public Records) $87,500 Public Records
• 2013-06-21 Listing Removed — HCMLS
• 2013-04-04 Listed $99,000 HCMLS
• 2013-03-01 Listing Removed — HCMLS
• 2012-10-15 Listed $95,000 HCMLS
• 2012-09-01 Listing Removed — HCMLS
• 2012-03-04 Listed $115,000 HCMLS

Property tax history

+8.3%/yr

Latest (2025): $3,885 · +4.6% YoY. Source: county tax records.