37 E Broad St · Burlington, NJ 08016

$425,555

15 bd · None ba · 3,052 sqft · MultiFamily · 34 Days on market

Built 1870 1,838 sqft lot

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Partially occupied 3-unit mixed-use property located at 37 E Broad St, Burlington, NJ is offered at $425,555 and presents a solid investment opportunity with immediate cash flow potential. The property consists of two residential apartments and one commercial space. The 3-bedroom residential unit is occupied by a long-term tenant on a month-to-month lease currently paying $1,500 per month. The 2-bedroom residential unit is currently vacant and was last rented in March 2026 for $1,600 per month. The commercial space is occupied by a long-term tenant operating a hair studio and currently paying $1,000 per month. Detailed profit and loss information outlining rental income and expenses is avai

Key facts

• 1,838 sq ft lot
• Built 1870
• Listed 33 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: End of row townhouse; Fee simple ownership
• Construction: Brick construction; Block foundation; Above-grade other structures
• Exterior features: No tidal water

Interior

• Bedrooms: One single-room unit; One two-bedroom unit; One three-bedroom unit
• Heating & cooling: Central air conditioning (electric); Baseboard hot water heating (natural gas); Natural gas hot water
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×2bd/1ba + 1×?bd/?ba units multifamily listed at $426k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $677/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $426k).
• Recommended offer: $413k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.6% in Burlington — 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 78/100 on livability (#89 in NJ, #2,359 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: schools C-, amenities F.
• Burlington City Public School District (suburban): math 7% / reading 29% proficiency, ranked #439 of 472 in NJ (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 179 active listings in the ZIP; solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• At $6,295/mo this rent would consume 77% of the median local household income ($98k/yr) (locally 1045% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $119k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($413k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $412,788 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.47%
• DSCR: 1.91
• GRM: 5.6

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: 12.8%
• Equity multiple: 1.51×
• Total profit: $60,565
• Equity at exit: $63,452

10-year hold

• IRR: 21.7%
• Equity multiple: 2.84×
• Total profit: $219,783
• Equity at exit: $36,794

Cash invested: $119,155 (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 08016

• Home prices YoY: -21.8%
• Active inventory: 179
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $6,295 high
• Mortgage (P&I): −$2,232
• Tax est. 1.5%: −$532 /mo · $6,383/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,322
• Net cashflow: $2,032

Break-even live

Break-even rent $3,723

Max offer price $425,555

Occupancy floor 63%

Sensitivity live

Price	-10% $2,326	-5% $2,179	+0% $2,032	+5% $1,885	+10% $1,738
Rent	-10% $1,535	-5% $1,783	+0% $2,032	+5% $2,281	+10% $2,529
Rate	-1.0pp $2,246	-0.5pp $2,140	base $2,032	+0.5pp $1,922	+1.0pp $1,810

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,314
1× unit	2	1	$2,054
1× unit	0	0	$1,928
Total (3 units)			$6,295

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: $106,389
• Closing costs: $12,767
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $425,555 Active 34 DOM
2. 2026-06-17
   days on market $425,555 Active 33 DOM
3. 2026-06-16
   days on market $425,555 Active 32 DOM
4. 2026-06-15
   days on market $425,555 Active 31 DOM
5. 2026-06-13
   days on market $425,555 Active 29 DOM
6. 2026-06-13
   days on market $425,555 Active 28 DOM
7. 2026-06-09
   days on market $425,555 Active 25 DOM
8. 2026-06-08
   days on market $425,555 Active 24 DOM
9. 2026-06-07
   days on market $425,555 Active 23 DOM
10. 2026-06-04
    days on market $425,555 Active 20 DOM
11. 2026-06-03
    days on market $425,555 Active 19 DOM
12. 2026-06-02
    days on market $425,555 Active 18 DOM
13. 2026-06-01
    days on market $425,555 Active 17 DOM
14. 2026-05-31
    days on market $425,555 Active 16 DOM
15. 2026-05-15
    listed $425,555 Active
16. 2009-09-26
    historical
17. 2009-03-26
    listed $299,623
18. 2008-09-30
    historical
19. 2008-01-18
    listed $296,788
20. 2007-11-18
    historical
21. 2007-05-18
    listed $349,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $75,540
• − Mortgage interest: −$23,838
• − Property taxes: −$6,383
• − Insurance: −$2,128
• − Repairs & maintenance: −$6,043
• − Management: −$6,043
• − Depreciation: −$12,380
• Taxable income: $18,725
• Est. tax owed @ 24.0%: −$4,494
• After-tax cash flow: $19,892/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: Burlington City Public School District
• NCES district ID: 3402430
• Math proficiency: 7% ▼ -16.00%
• Reading proficiency: 29% ▼ -8.00%
• Median HH income: $51,122
• Composite: 16.27/100
• National rank: #9218
• State rank: #439 of 472 in NJ

Livability — Burlington

• Score: 78/100
• State rank: #89
• US rank: #2359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burlington, NJ
• County: Burlington County · 323,710 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 34,920
• Household income: $98,463
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 1045.0

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 33% Two or more races 10% Hispanic / Latino 9% Asian 7%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 84% English-only · Spanish 4% Other Indo-European 4% French/Haitian/Cajun 2%

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.42%
• Current HPI: 298.7935
• 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

+21.9% since first listed

7 events — show timeline

• 2026-05-15 Listed $425,555 BRIGHT MLS
• 2009-09-26 Listing Removed — BRIGHT MLS
• 2009-03-26 Listed $299,623 BRIGHT MLS
• 2008-09-30 Listing Removed — BRIGHT MLS
• 2008-01-18 Listed $296,788 BRIGHT MLS
• 2007-11-18 Listing Removed — BRIGHT MLS
• 2007-05-18 Listed $349,000 BRIGHT MLS