1 Grant St · Glen Ridge, NJ 07042

$584,000

3 bd · 2.0 ba · — sqft · Condo · 57 Days on market

Built 1900 Est $391k · 49% over $637/mo HOA · 17% of rent

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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).

• Schools +4.7/10.0
• Livability +4.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• Cash flow +0.3/30.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hard-to-find 3BR/2BA condo in a prime commuter location! Don't miss out on this beautifully updated, move-in ready 3BR/2BA condo with private entrance and soaring ceilings. Sun-filled interior showcases gleaming hardwood floors, central A/C, and an updated eat-in kitchen with granite countertops and stainless steel appliances. Open-concept living/dining area is perfect for relaxing or entertaining. All 3 sun-filled bedrooms boast high ceilings. Versatile finished basement with washer/dryer adds even more storage potential and flexible space ideal for a home office, gym, or playroom. Deeded parking conveniently located next to building. Unbeatable location just 1 block to NYC direct train! Moments to Montclair's vibrant downtown filled with top-rated dining, boutique shopping, and arts. This is truly an opportunity not to be missed!

Key facts

• Soaring ceilings
• Central a/c
• Private entrance

Tags

• PRIVATE ENTRANCE
• SOARING CEILINGS
• HARDWOOD FLOORS
• CENTRAL A/C
• UPDATED EAT-IN KITCHEN
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $584k.

Deal economics

• At list price, monthly cash flow is $-3k ($-31k/yr) — negative.
• To cash-flow at today's rent, offer at most $337k (42.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $376k (35.7% below list).
• Recommended offer: $337k (42.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 88/100 on livability (#5 in NJ, #204 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Montclair Public School District (suburban): math 37% / reading 61% proficiency, ranked #123 of 472 in NJ (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 36 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).
• This rent runs 37% of the median local income ($123k/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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Essex County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($566k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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 $370k; list at $584k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; 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 $337,212 (42.3% 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 57 days. Have you received any prior offers? Is the seller open to a 42% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
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: 0.64% ✗
• Cap rate: 0.94%
• Cash-on-cash: -19.14%
• DSCR: 0.15
• GRM: 13.0

CMA / ARV

• ARV (median comp): $390,836
• List price: $584,000
• Delta: 49.42%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.79% rent growth · sell at horizon

5-year hold

• IRR: -57.2%
• Equity multiple: -0.62×
• Total profit: $-264,222
• Equity at exit: $87,076

10-year hold

• IRR: —
• Equity multiple: -1.80×
• Total profit: $-457,948
• Equity at exit: $50,494

Cash invested: $163,520 (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 07042

• Rents YoY: 1.8%
• Active inventory: 36
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $3,756 high
• Mortgage (P&I): −$3,063
• Tax from tax record: −$1,632 /mo · $19,584/yr
• Insurance: −$243
• HOA: −$637
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $-2,607

Break-even live

Break-even rent $7,057

Max offer price $337,212

Occupancy floor —

Sensitivity live

Price	-10% $-2,277	-5% $-2,442	+0% $-2,607	+5% $-2,773	+10% $-2,938
Rent	-10% $-2,904	-5% $-2,756	+0% $-2,607	+5% $-2,459	+10% $-2,311
Rate	-1.0pp $-2,313	-0.5pp $-2,459	base $-2,607	+0.5pp $-2,759	+1.0pp $-2,913

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: $146,000
• Closing costs: $17,520
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Baldwin St Unit 2 Montclair, NJ	2.0	2.0	1100	$3,700	$3.36	25d	1	0.09mi
22 Baldwin St Unit 1 Montclair, NJ	2.0	1.0	950	$2,800	$2.95	25d	1	0.09mi
73 Glenridge Ave Apt 1 Montclair, NJ	3.0	2.0	1400	$3,790	$2.71	5d	1	0.13mi
11 Pine St Montclair, NJ	2.0	1.0–2.0	774	$4,637	$5.99	1d	7	0.14mi
50 Pine St Unit D Montclair, NJ	2.0	2.5	—	$4,000	—	15d	1	0.22mi
50 Pine St Montclair, NJ	2.0–3.0	2.0–2.5	1317	$4,000	$3.04	25d	2	0.22mi
50 Pine St Montclair, NJ	2.0–3.0	2.0–2.5	1317	$4,000	$3.04	22d	3	0.22mi
4 Claremont Pl Unit 2 Montclair, NJ	4.0	1.0	—	$3,800	—	25d	1	0.24mi
14 Grove Ter Unit 2 Montclair, NJ	3.0	2.0	—	$3,750	—	25d	1	0.24mi
43 Walnut St #1 Montclair, NJ	2.0	2.0	—	$3,850	—	15d	1	0.27mi
8 Maple Ave Montclair, NJ	2.0	1.0	—	$2,400	—	3d	1	0.30mi
99 Claremont Ave Montclair, NJ	3.0	2.5	2300	$6,500	$2.83	2d	1	0.30mi
42 Walnut St Montclair, NJ	2.0	1.0	—	$2,850	—	2d	1	0.30mi
17 Mission St #1 Montclair, NJ	2.0	1.0	—	$3,200	—	25d	1	0.30mi
96 Grove St Montclair, NJ	3.0	1.0	—	$3,300	—	25d	1	0.31mi
48 Walnut St Unit 1 Montclair, NJ	4.0	3.0	—	$7,800	—	1d	1	0.31mi
10 Walnut Pkwy Montclair, NJ	2.0	1.0	—	$2,550	—	22d	1	0.32mi
27 Mission St Unit 2 Montclair, NJ	3.0	2.0	—	$3,300	—	25d	1	0.32mi
27 Mission St Unit 2 Montclair, NJ	3.0	2.0	—	$3,300	—	7d	1	0.32mi
51 Greenwood Ave Montclair, NJ	2.0	1.5	—	$6,500	—	1d	1	0.34mi
26 Washington St Montclair, NJ	2.0	1.0	—	$3,200	—	6d	1	0.35mi
2 Inness Pl Glen Ridge, NJ	4.0	2.5	—	$6,500	—	2d	1	0.36mi
53 Mission St Unit 1 Montclair, NJ	3.0	1.0	—	$2,700	—	2d	1	0.36mi
60 Greenwood Ave Montclair, NJ	2.0	1.0	—	$2,500	—	25d	1	0.38mi
48 Maple Ave Unit 2 Montclair, NJ	2.0	1.0	—	$2,400	—	13d	1	0.41mi
44 Elm St Unit 2nd FL Montclair, NJ	3.0	1.0	—	$3,200	—	25d	1	0.42mi
133 Claremont Ave Montclair, NJ	3.0	1.0	2656	$3,400	$1.28	5d	1	0.42mi
56 Maple Ave Unit 1 Montclair, NJ	2.0	1.0	—	$3,100	—	25d	1	0.43mi
10 Oxford St Unit 1 Montclair, NJ	3.0	2.0	1450	$5,500	$3.79	2d	1	0.43mi
58 Maple Ave Montclair, NJ	3.0	1.0	—	$2,900	—	25d	1	0.44mi
46 Elmwood Ave Montclair, NJ	3.0	1.0	—	$3,100	—	25d	1	0.50mi
44 Christopher St Unit 2 Montclair, NJ	3.0	2.0	—	$4,000	—	13d	1	0.51mi
413 Bloomfield Ave Unit 3 Montclair, NJ	2.0	2.0	—	$3,450	—	21d	1	0.53mi
415 Bloomfield Ave Unit 2 Montclair, NJ	2.0	1.0	—	$2,199	—	18d	1	0.54mi
24 Lexington Ave #3 Montclair, NJ	3.0	1.0	1000	$3,300	$3.30	7d	1	0.55mi
5 Roosevelt Pl Unit 6M Montclair, NJ	2.0	1.0	—	$3,150	—	19d	1	0.56mi
420 Bloomfield Ave #4 Montclair, NJ	2.0	1.0	1000	$2,875	$2.88	25d	1	0.56mi
5 Roosevelt Pl Montclair, NJ	1.0–2.0	1.0	—	$3,150	—	24d	2	0.56mi
69 Forest St Unit 69 Montclair, NJ	2.0	1.5	—	$3,750	—	25d	1	0.56mi
36 Hawthorne Pl Montclair, NJ	2.0	1.0–2.0	715	$3,899	$5.45	10d	1	0.59mi

HOA detail condo

• Monthly dues: $637 · $7,644/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $584,000 Active 57 DOM
2. 2026-06-17
   days on market $584,000 Active 56 DOM
3. 2026-06-16
   days on market $584,000 Active 55 DOM
4. 2026-06-15
   days on market $584,000 Active 54 DOM
5. 2026-06-13
   days on market $584,000 Active 52 DOM
6. 2026-06-13
   days on market $584,000 Active 51 DOM
7. 2026-06-09
   days on market $584,000 Active 48 DOM
8. 2026-06-08
   days on market $584,000 Active 47 DOM
9. 2026-06-07
   days on market $584,000 Active 46 DOM
10. 2026-06-04
    days on market $584,000 Active 43 DOM
11. 2026-06-03
    days on market $584,000 Active 42 DOM
12. 2026-06-02
    days on market $584,000 Active 41 DOM
13. 2026-06-01
    days on market $584,000 Active 40 DOM
14. 2026-05-31
    days on market $584,000 Active 39 DOM
15. 2026-04-22
    listed $589,000 Active 843-char remark

    Show marketing remark (843 chars)

    Hard-to-find 3BR/2BA condo in a prime commuter location! Don't miss out on this beautifully updated, move-in ready 3BR/2BA condo with private entrance and soaring ceilings. Sun-filled interior showcases gleaming hardwood floors, central A/C, and an updated eat-in kitchen with granite countertops and stainless steel appliances. Open-concept living/dining area is perfect for relaxing or entertaining. All 3 sun-filled bedrooms boast high ceilings. Versatile finished basement with washer/dryer adds even more storage potential and flexible space ideal for a home office, gym, or playroom. Deeded parking conveniently located next to building. Unbeatable location just 1 block to NYC direct train! Moments to Montclair's vibrant downtown filled with top-rated dining, boutique shopping, and arts. This is truly an opportunity not to be missed!

16. 2021-11-22
    soldstatus $370,000 Sold 658-char remark

    Show marketing remark (658 chars)

    RARE FIND! Beautiful 3Bed, 2FBath completely move in ready. Private entrance welcomes you into impressively high ceilings, hardwood floors throughout and central A/C. Updated eat in kitchen with granite and stainless steel appliances. Spacious, warm, living room/dining area to relax in. Plenty of storage including large closets in each bedroom. Partially finished basement with washer/dryer can be used as a playroom or an office. Deeded parking spot next to building. COMMUTER'S DREAM, ONLY ONE BLOCK TO NYC DIRECT TRAIN! Short walk to vibrant downtown with amazing shops and restaurants. Enjoy this pet friendly condo and all that Montclair has to offer!

17. 2021-10-08
    historical Under Contract 658-char remark

    Show marketing remark (658 chars)

    RARE FIND! Beautiful 3Bed, 2FBath completely move in ready. Private entrance welcomes you into impressively high ceilings, hardwood floors throughout and central A/C. Updated eat in kitchen with granite and stainless steel appliances. Spacious, warm, living room/dining area to relax in. Plenty of storage including large closets in each bedroom. Partially finished basement with washer/dryer can be used as a playroom or an office. Deeded parking spot next to building. COMMUTER'S DREAM, ONLY ONE BLOCK TO NYC DIRECT TRAIN! Short walk to vibrant downtown with amazing shops and restaurants. Enjoy this pet friendly condo and all that Montclair has to offer!

18. 2021-09-23
    listed $359,000 Active 658-char remark

    Show marketing remark (658 chars)

    RARE FIND! Beautiful 3Bed, 2FBath completely move in ready. Private entrance welcomes you into impressively high ceilings, hardwood floors throughout and central A/C. Updated eat in kitchen with granite and stainless steel appliances. Spacious, warm, living room/dining area to relax in. Plenty of storage including large closets in each bedroom. Partially finished basement with washer/dryer can be used as a playroom or an office. Deeded parking spot next to building. COMMUTER'S DREAM, ONLY ONE BLOCK TO NYC DIRECT TRAIN! Short walk to vibrant downtown with amazing shops and restaurants. Enjoy this pet friendly condo and all that Montclair has to offer!

19. 2020-07-31
    soldstatus $375,000 Sold
20. 2020-05-30
    historical
21. 2020-04-27
    status Active
22. 2020-04-19
    historical
23. 2020-03-26
    status Active
24. 2020-03-11
    historical
25. 2020-02-25
    listed $370,000 Active
26. 2019-05-24
    soldstatus $379,000 Sold
27. 2019-04-11
    historical Under Contract
28. 2019-03-25
    listed $379,000 Active
29. 2013-01-24
    soldstatus $143,000
30. 2012-12-27
    soldstatus $137,000
31. 2012-11-16
    soldstatus $139,000
32. 1999-05-17
    soldstatus $250,000
33. 1988-10-12
    soldstatus $275,000

ⓘ 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: $19,584 · $1,632/mo
• Projected year-2 tax: $19,584 · $1,632/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥100°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,074
• − Mortgage interest: −$32,713
• − Property taxes: −$19,584
• − Insurance: −$2,920
• − Repairs & maintenance: −$3,606
• − Management: −$3,606
• − HOA: −$7,644
• − Depreciation: −$16,989
• Taxable loss: −$41,988
• Est. tax savings @ 24.0%: +$10,077
• After-tax cash flow: $-21,213/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: Montclair Public School District
• NCES district ID: 3410560
• Math proficiency: 37% ▼ -18.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $99,595
• Composite: 46.6/100
• National rank: #2417
• State rank: #123 of 472 in NJ

Livability — Glen Ridge

• Score: 88/100
• State rank: #5
• US rank: #204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Essex County · 825,405 people
• City population: 8,002
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 27,326
• Household income: $122,847
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1709.0

Population outlook (Essex County) Hauer SSP2

• Today (2025): 825,042 people
• By 2030: 834,010 · +1.1%
• By 2040: 846,221 · +2.6%
• By 2050: 850,047 · +3.0%
• By 2075: 837,009 · +1.5%
• By 2100: 784,345 · -4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 48% Black 24% Two or more races 14% Hispanic / Latino 13% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Slovak 2%
• Foreign-born: 15% · Canada, South Korea, China
• Languages at home: 81% English-only · Spanish 7% Other Indo-European 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Essex

• 2024 margin: Solid D (+44.9) · D 71.7% · R 26.8% · Other 1.5%
• 2008→2024 swing: -7.7pp toward R · 2008: 52.6pp · 2024: 44.9pp
• All cycles: 2024: D+44.9 2020: D+55.4 2016: D+56.4 2012: D+55.5 2008: D+52.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -544.81%
• Current HPI: 359.335
• Rent YoY: ▲ 1.79%
• 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

+114.2% since first listed

19 events — show timeline

• 2026-04-22 Listed $589,000 NJMLS
• 2021-11-22 Sold (MLS) $370,000 NJMLS
• 2021-10-08 Contingent — NJMLS
• 2021-09-23 Listed $359,000 NJMLS
• 2020-07-31 Sold (MLS) $375,000 GSMLS
• 2020-05-30 Delisted — GSMLS
• 2020-04-27 Relisted — GSMLS
• 2020-04-19 Delisted — GSMLS
• 2020-03-26 Relisted — GSMLS
• 2020-03-11 Delisted — GSMLS
• 2020-02-25 Listed $370,000 GSMLS
• 2019-05-24 Sold (MLS) $379,000 NJMLS
• 2019-04-11 Contingent — NJMLS
• 2019-03-25 Listed $379,000 NJMLS
• 2013-01-24 Sold (Public Records) $143,000 Public Records
• 2012-12-27 Sold (Public Records) $137,000 Public Records
• 2012-11-16 Sold (Public Records) $139,000 Public Records
• 1999-05-17 Sold (Public Records) $250,000 Public Records
• 1988-10-12 Sold (Public Records) $275,000 Public Records

Property tax history

+3.6%/yr

Latest (2011): $19,584 · +1.7% YoY. Source: county tax records.