81 ROMAINE Ave Apt 2L · Jersey City, NJ 07306

$306,000

2 bd · 1.0 ba · 3,951 sqft · Condo · 13 Days on market

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Cash flow +0.4/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath residence located in a classic brick building in the heart of Jersey City. This inviting unit features beautiful hardwood floors throughout, a spacious living and dining area accented by crown molding and a ceiling fan, and a well-appointed kitchen with warm oak cabinetry. A versatile den adds character and charm with exposed wood beam ceilings and original stained-glass transom windows, creating the perfect space for a home office, reading nook, or additional lounge area. Both bedrooms offer hardwood flooring, generous closet space, and abundant natural light. Conveniently situated near public transportation, major highways, shopping, dining, and local amenities, this home offers a blend of timeless character and everyday convenience.

Key facts

• Hardwood floors
• Listed 12 days

Tags

• HARDWOOD FLOORS
• WELL-APPOINTED KITCHEN
• EXPOSED WOOD BEAM CEILINGS
• STAINED-GLASS TRANSOM WINDOWS
• GENEROUS CLOSET SPACE
• ABUNDANT NATURAL LIGHT

Property features AI

Finance

• HOA & community: Maintenance fee includes gas

Exterior

• Parking: No parking
• Utilities: Gas included in maintenance/HOA
• Home design: Unit located on level 1
• Construction: Lead paint form: Yes
• Exterior features: Brick exterior; Pets not allowed

Interior

• Kitchen: 1 kitchen (on level 1); Gas oven/range
• Bedrooms: 2 bedrooms (all on level 1)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Gas heating
• Interior features: Washer/Dryer; Gas oven/range
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $306k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $306k).
• Cap rate 1.0% vs local median 1.8% in Jersey City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 217 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $3,302/mo this rent would consume 53% of the median local household income ($75k/yr) (locally 4050% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 $145k; list at $306k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 56% of rent.
• 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 $306,000

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 0.99%
• Cash-on-cash: -18.94%
• DSCR: 0.16
• GRM: 7.7

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: -54.9%
• Equity multiple: -0.58×
• Total profit: $-135,694
• Equity at exit: $45,626

10-year hold

• IRR: —
• Equity multiple: -1.67×
• Total profit: $-228,982
• Equity at exit: $26,457

Cash invested: $85,680 (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: 217
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,302 medium
• Mortgage (P&I): −$1,605
• Tax est. 1.5%: −$382 /mo · $4,590/yr
• Insurance: −$128
• HOA est. from 2 same-building comps: −$1,846
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $-1,352

Break-even live

Break-even rent $5,014

Max offer price $110,307

Occupancy floor —

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: $76,500
• Closing costs: $9,180
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Carlton Ave Unit 1 Jersey City, NJ	3.0	3.5	2700	$6,000	$2.22	18d	1	0.97mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-09
   days on market $306,000 Active 13 DOM
2. 2026-06-08
   days on market $306,000 Active 12 DOM
3. 2026-06-07
   days on market $306,000 Active 11 DOM
4. 2026-06-04
   days on market $306,000 Active 8 DOM
5. 2026-06-03
   days on market $306,000 Active 7 DOM
6. 2026-06-02
   days on market $306,000 Active 6 DOM
7. 2026-06-01
   days on market $306,000 Active 5 DOM
8. 2026-05-31
   days on market $306,000 Active 4 DOM
9. 2026-05-27
   listed $306,000 Active 772-char remark

   Show marketing remark (772 chars)

   Charming 2-bedroom, 1-bath residence located in a classic brick building in the heart of Jersey City. This inviting unit features beautiful hardwood floors throughout, a spacious living and dining area accented by crown molding and a ceiling fan, and a well-appointed kitchen with warm oak cabinetry. A versatile den adds character and charm with exposed wood beam ceilings and original stained-glass transom windows, creating the perfect space for a home office, reading nook, or additional lounge area. Both bedrooms offer hardwood flooring, generous closet space, and abundant natural light. Conveniently situated near public transportation, major highways, shopping, dining, and local amenities, this home offers a blend of timeless character and everyday convenience.

10. 2026-05-27
    historical $306,000 772-char remark

    Show marketing remark (772 chars)

    Charming 2-bedroom, 1-bath residence located in a classic brick building in the heart of Jersey City. This inviting unit features beautiful hardwood floors throughout, a spacious living and dining area accented by crown molding and a ceiling fan, and a well-appointed kitchen with warm oak cabinetry. A versatile den adds character and charm with exposed wood beam ceilings and original stained-glass transom windows, creating the perfect space for a home office, reading nook, or additional lounge area. Both bedrooms offer hardwood flooring, generous closet space, and abundant natural light. Conveniently situated near public transportation, major highways, shopping, dining, and local amenities, this home offers a blend of timeless character and everyday convenience.

11. 2026-05-27
    listed $306,000 Active

    Show marketing remark (772 chars)

    Charming 2-bedroom, 1-bath residence located in a classic brick building in the heart of Jersey City. This inviting unit features beautiful hardwood floors throughout, a spacious living and dining area accented by crown molding and a ceiling fan, and a well-appointed kitchen with warm oak cabinetry. A versatile den adds character and charm with exposed wood beam ceilings and original stained-glass transom windows, creating the perfect space for a home office, reading nook, or additional lounge area. Both bedrooms offer hardwood flooring, generous closet space, and abundant natural light. Conveniently situated near public transportation, major highways, shopping, dining, and local amenities, this home offers a blend of timeless character and everyday convenience.

12. 2004-06-29
    soldstatus $144,900
13. 2004-04-13
    historical
14. 2003-08-02
    listed $144,900
15. 2003-07-16
    historical
16. 2003-01-17
    listed $145,000

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°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: $39,620
• − Mortgage interest: −$17,141
• − Property taxes: −$4,590
• − Insurance: −$1,530
• − Repairs & maintenance: −$3,170
• − Management: −$3,170
• − HOA: −$22,152
• − Depreciation: −$8,902
• Taxable loss: −$21,034
• Est. tax savings @ 24.0%: +$5,048
• After-tax cash flow: $-11,181/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

+111.0% since first listed

8 events — show timeline

• 2026-05-27 Listed $306,000 GSMLS
• 2026-05-27 Coming Soon $306,000 GSMLS
• 2026-05-27 Listed $306,000 HCMLS
• 2004-06-29 Sold (MLS) $144,900 HCMLS
• 2004-04-13 Listing Removed — HCMLS
• 2003-08-02 Listed $144,900 HCMLS
• 2003-07-16 Listing Removed — HCMLS
• 2003-01-17 Listed $145,000 HCMLS