20-22 E Broad St · Burlington, NJ 08016

$325,000

16 bd · None ba · 3,115 sqft · MultiFamily · 153 Days on market

Built 1870 1,224 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 units. confirmed

Listing remarks

Great Opportunity for a 4 unit Investment. Main floor offers 2 store fronts with their own bathroom. Upstairs offers, 2 bedroom, 1 bathroom apartment with living room, and kitchen. Property has been completely gutted for a clean slat. Located next to bus and train station, for easier transportation to where ever you need to go. Property selling completely as is. Buyer responsible for all repairs and approvals. Cash only offers.

Key facts

• 1,224 sq ft lot
• Built 1870
• Listed 152 days

Property features AI

Finance

• Financial info: 4 total units; Estimated year built; Finished area above grade approximately 3,115

Exterior

• Parking: On-street parking
• Utilities: Electric hot water; Public sewer; Public water
• Home design: Over storefront structure; 2 stories; Fee simple ownership
• Construction: Block and brick construction; Above-grade and below-grade structures
• Exterior features: Lot roughly 35 x 35; No tidal water

Interior

• Bedrooms: Two single-room units; Two two-bedroom units
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive. Per door: $946/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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 $7,634/mo this rent would consume 93% 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 $2k of loan paydown is wiped out by about $10k 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 $91k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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 $180k; list at $325k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 2.35% ✓
• Cap rate: 20.27%
• Cash-on-cash: 49.91%
• DSCR: 3.22
• GRM: 3.5

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: 47.6%
• Equity multiple: 3.07×
• Total profit: $188,511
• Equity at exit: $48,459

10-year hold

• IRR: 53.3%
• Equity multiple: 6.22×
• Total profit: $475,023
• Equity at exit: $28,100

Cash invested: $91,000 (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: 14.2×

Monthly cashflow live

• Estimated rent: $7,634 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,603
• Net cashflow: $3,785

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,636
Total (4 units)			$7,634

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $325,000 Active 153 DOM
2. 2026-06-17
   days on market $325,000 Active 152 DOM
3. 2026-06-16
   days on market $325,000 Active 151 DOM
4. 2026-06-15
   days on market $325,000 Active 150 DOM
5. 2026-06-13
   days on market $325,000 Active 148 DOM
6. 2026-06-13
   days on market $325,000 Active 147 DOM
7. 2026-06-09
   days on market $325,000 Active 144 DOM
8. 2026-06-08
   days on market $325,000 Active 143 DOM
9. 2026-06-07
   days on market $325,000 Active 142 DOM
10. 2026-06-04
    days on market $325,000 Active 139 DOM
11. 2026-06-03
    days on market $325,000 Active 138 DOM
12. 2026-06-02
    days on market $325,000 Active 137 DOM
13. 2026-06-01
    days on market $325,000 Active 136 DOM
14. 2026-05-31
    days on market $325,000 Active 135 DOM
15. 2026-01-16
    listed $325,000 Active
16. 2025-04-23
    status Pending
17. 2025-04-22
    historical
18. 2025-04-04
    historical Active Under Contract
19. 2025-02-03
    status Active
20. 2025-01-31
    historical
21. 2024-09-02
    listed $309,000 Active
22. 2024-04-16
    status Pending
23. 2024-04-16
    historical
24. 2023-11-16
    status Active
25. 2023-11-15
    historical
26. 2023-05-17
    listed $289,900 Active
27. 2022-06-29
    soldstatus $180,000 Closed
28. 2022-06-03
    status Pending
29. 2022-03-07
    price $179,000
30. 2022-03-06
    listed $189,000 Active

ⓘ 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: $91,608
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$7,329
• − Management: −$7,329
• − Depreciation: −$9,455
• Taxable income: $42,791
• Est. tax owed @ 24.0%: −$10,270
• After-tax cash flow: $35,148/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

+72.0% since first listed

16 events — show timeline

• 2026-01-16 Listed $325,000 BRIGHT MLS
• 2025-04-23 Pending — BRIGHT MLS
• 2025-04-22 Listing Removed — BRIGHT MLS
• 2025-04-04 Contingent — BRIGHT MLS
• 2025-02-03 Relisted — BRIGHT MLS
• 2025-01-31 Listing Removed — BRIGHT MLS
• 2024-09-02 Listed $309,000 BRIGHT MLS
• 2024-04-16 Pending — BRIGHT MLS
• 2024-04-16 Listing Removed — BRIGHT MLS
• 2023-11-16 Relisted — BRIGHT MLS
• 2023-11-15 Listing Removed — BRIGHT MLS
• 2023-05-17 Listed $289,900 BRIGHT MLS
• 2022-06-29 Sold (MLS) $180,000 BRIGHT MLS
• 2022-06-03 Pending — BRIGHT MLS
• 2022-03-07 Price Changed $179,000 BRIGHT MLS
• 2022-03-06 Listed $189,000 BRIGHT MLS