138 Brunswick Ave · Trenton, NJ 08618

$189,900

4 bd · 2.0 ba · 1,800 sqft · Townhouse public records · 21 Days on market

Built 2000 1,320 sqft lot Est $288k · 34% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

THIS HOME IS NOT FOR RENT - ANY ATTEMPT TO RENT THIS PROPERTY SHOULD IMMEDIATELY NOTIFY LISTING AGENT DIRECT. Strictly AS IS SALE - NO FHA 203b. Eligible for FHA 203K. Financing Terms: FHA 203K, Cash, HomeStyle or other repair-oriented loan. With a little elbow grease this spacious three story row with full basement can be yours. Close to schools, hospitals, shopping and parks. Don't miss out on the opportunity. Buyer to verify all information prior to bidding. Buyer is responsible for their own investigative information on SqFt of home, Room Sizes, Bathroom counts, taxes and all other information regarding this home. This home is a AS-IS Sale with buyer being responsible for all inspection

Key facts

• Built 2000
• Listed 21 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Year built: estimated
• Construction: Brick construction; Block foundation
• Exterior features: Lot dimensions approximately 15.90 x 83.00; No tidal water

Interior

• Bedrooms: Four bedrooms on the first upper level
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $189,900 price doesn't fit this home's estimated sale value (~$288,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 6.3% in Trenton — 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 76/100 on livability (#133 in NJ, #3,533 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools F, crime F, employment F.
• Trenton Public School District (urban): math 2% / reading 16% proficiency, ranked #471 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 144 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,623/mo this rent would consume 62% of the median local household income ($50k/yr) (locally 2116% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $190k implies a 1469% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $187,051 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.38% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.38%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $288,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 N Broad St	0.12mi	3/1.5 (-1)	1,624 (-10%)	8mo	$262,000	$161	65
317 Academy St	0.32mi	4/3.0	1,938 (+8%)	5mo	$215,000	$111	64
240 Spring St	0.56mi	4/2.0	1,864 (+4%)	9mo	$265,000	$142	61
412 Market St	0.68mi	5/2.0 (+1)	1,790 (-1%)	3mo	$249,000	$139	60
46 Louise Ln	0.43mi	3/2.5 (-1)	1,672 (-7%)	2mo	$307,000	$184	60
129 Passaic St	0.59mi	4/1.5	1,734 (-4%)	9mo	$190,000	$110	57
100 Evans Ave	0.49mi	4/1.5	1,706 (-5%)	12mo	$285,000	$167	56
61 Titus Ave	0.16mi	3/2.0 (-1)	1,561 (-13%)	13mo	$225,900	$145	55
117 Jackson St	0.64mi	5/1.0 (+1)	1,810 (+1%)	7mo	$245,000	$135	54
128 W Ingham Ave	0.41mi	3/1.0 (-1)	1,636 (-9%)	11mo	$262,000	$160	47
137 Jackson St	0.67mi	3/3.5 (-1)	1,998 (+11%)	2mo	$330,000	$165	38
145 Jackson St	0.69mi	3/3.5 (-1)	1,998 (+11%)	10mo	$325,000	$163	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.32×
• Total profit: $17,254
• Equity at exit: $28,315

10-year hold

• IRR: 17.2%
• Equity multiple: 2.39×
• Total profit: $74,031
• Equity at exit: $16,419

Cash invested: $53,172 (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 08618

• Rents YoY: 2.6%
• Active inventory: 144
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,623 high
• Mortgage (P&I): −$996
• Tax from tax record: −$227 /mo · $2,721/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $770

Break-even live

Break-even rent $1,648

Max offer price $189,900

Occupancy floor 66%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Bellevue Ave Trenton, NJ	3.0	2.0	1740	$2,400	$1.38	44d	1	0.24mi
73 Bellevue Ave Trenton, NJ	4.0	2.0	1950	$2,400	$1.23	14d	1	0.33mi
311 Calhoun St Trenton, NJ	4.0	1.0	1516	$2,400	$1.58	44d	1	0.45mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	14d	1	0.53mi
600 Artisan St Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	13d	3	0.93mi
600 Artisan St Unit 126 Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	20d	1	0.93mi
510 N Hermitage Ave Trenton, NJ	5.0	1.5	1316	$2,500	$1.90	13d	1	0.98mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.99mi
117 Park Ave Morrisville, PA	3.0	2.0	1396	$3,200	$2.29	13d	1	1.02mi
649 W State St Trenton, NJ	5.0	2.0	1870	$2,900	$1.55	13d	1	1.10mi
34 E Hendrickson Ave Morrisville, PA	3.0	1.0	1360	$2,650	$1.95	44d	1	1.16mi
20 N Overbrook Ave Unit B Trenton, NJ	3.0	1.0	1518	$2,300	$1.52	13d	1	1.18mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	14d	1	1.31mi
73 Oak Ln #2 Trenton, NJ	4.0	1.0	1886	$2,300	$1.22	14d	1	1.35mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	21d	1	1.36mi
130 Harper Ave Morrisville, PA	3.0	2.5	1276	$3,500	$2.74	13d	1	1.41mi
927 Carteret Ave Trenton, NJ	5.0	1.5	2275	$2,500	$1.10	20d	1	1.41mi
936 Carteret Ave Trenton, NJ	4.0	2.0	2382	$2,500	$1.05	13d	1	1.42mi

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-04-21
   listed $189,900 Active
3. 1996-09-04
   soldstatus $12,100

ⓘ 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: $2,721 · $227/mo
• Projected year-2 tax: $3,725 · $310/mo
• Expected delta: +$1,004/yr (+$84/mo · 36.9%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,470
• − Mortgage interest: −$10,637
• − Property taxes: −$2,721
• − Insurance: −$950
• − Repairs & maintenance: −$2,518
• − Management: −$2,518
• − Depreciation: −$5,524
• Taxable income: $6,603
• Est. tax owed @ 24.0%: −$1,585
• After-tax cash flow: $7,656/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: Trenton Public School District
• NCES district ID: 3416290
• Math proficiency: 2% ▼ -8.00%
• Reading proficiency: 16% ▼ -4.00%
• Median HH income: $35,078
• Composite: 7.31/100
• National rank: #9956
• State rank: #471 of 472 in NJ

Livability — Trenton

• Score: 76/100
• State rank: #133
• US rank: #3533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, NJ
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 35,634
• Household income: $50,390
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2116.0

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 381,395 people
• By 2030: 384,640 · +0.9%
• By 2040: 391,431 · +2.6%
• By 2050: 397,845 · +4.3%
• By 2075: 417,281 · +9.4%
• By 2100: 420,327 · +10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 59% White 19% Hispanic / Latino 16% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 2% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 10% Other Indo-European 3% Arabic 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid D (+33.9) · D 65.9% · R 32.0% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 36.1pp · 2024: 33.9pp
• All cycles: 2024: D+33.9 2020: D+40.0 2016: D+36.2 2012: D+36.8 2008: D+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.54%
• Current HPI: 288.6841
• Rent YoY: ▲ 2.60%
• Metro: Trenton-Princeton, NJ
• 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

+1469.4% since first listed

3 events — show timeline

• 2026-05-12 Pending — BRIGHT MLS
• 2026-04-21 Listed $189,900 BRIGHT MLS
• 1996-09-04 Sold (Public Records) $12,100 Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,721 · +1.5% YoY. Source: county tax records.