116 Chambers St · Trenton, NJ 08609

$200,000

4 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 4 Days on market

Built 1887 1,738 sqft lot Est $286k · 30% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Key facts

• Built 1887
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $749 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 10.8% 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: 33 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 44% of the median local income ($68k/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 $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 + 3.0% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 1887 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $200,000

Questions for the listing agent

1. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.25% ✓
• Cap rate: 10.79%
• Cash-on-cash: 16.05%
• DSCR: 1.71
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $285,696
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Tyler St	0.24mi	4/2.0	1,516 (+2%)	23mo	$240,000	$158	67
156 Kent St	0.51mi	3/1.0 (-1)	1,470 (-1%)	0mo	$208,000	$141	65
825 Lyndale Ave	0.58mi	4/1.5	1,443 (-3%)	1mo	$360,000	$249	65
307 Commonwealth Ave	0.59mi	3/1.0 (-1)	1,480 (-0%)	8mo	$275,000	$186	56
1265 E State St	0.62mi	3/1.0 (-1)	1,568 (+5%)	1mo	$170,000	$108	52
877 Park Ave	0.67mi	3/2.0 (-1)	1,406 (-6%)	7mo	$320,000	$228	49
925 Melrose Ave	0.68mi	4/2.5	1,546 (+4%)	15mo	$360,000	$233	47
33 College St	0.66mi	4/1.0	1,404 (-6%)	14mo	$270,000	$192	44
368 Commonwealth Ave	0.68mi	4/2.0	1,346 (-10%)	18mo	$310,000	$230	38
288 S Logan Ave	0.74mi	3/2.0 (-1)	1,360 (-9%)	12mo	$240,000	$176	36
15 Pierce Ave	0.69mi	3/1.0 (-1)	1,360 (-9%)	12mo	$295,000	$217	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.27×
• Total profit: $15,247
• Equity at exit: $29,821

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $74,493
• Equity at exit: $17,292

Cash invested: $56,000 (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 08609

• Home prices YoY: -29.3%
• Active inventory: 33
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,510 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$102 /mo · $1,219/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $749

Break-even live

Break-even rent $1,562

Max offer price $200,000

Occupancy floor 65%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.03mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	0.26mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	21d	1	0.37mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	14d	1	0.40mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	14d	1	0.43mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	14d	1	0.45mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	0.51mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	14d	1	0.69mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	21d	1	0.75mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	0.82mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	0.84mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	14d	1	0.91mi
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	14d	1	0.99mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	21d	1	1.14mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	1.14mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	14d	1	1.17mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	14d	1	1.19mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	21d	1	1.20mi
21 Bellevue Ave Trenton, NJ	3.0	2.0	1740	$2,400	$1.38	44d	1	1.20mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	14d	1	1.21mi
234 Howell St Trenton, NJ	3.0	3.0	1656	$3,600	$2.17	21d	1	1.22mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	21d	1	1.24mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	14d	1	1.27mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	14d	1	1.27mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	1.27mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	14d	1	1.29mi
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	14d	1	1.32mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	14d	1	1.36mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	21d	1	1.38mi
547 Centre St Trenton, NJ	3.0	1.0	1060	$1,850	$1.75	21d	1	1.40mi
1132 Genesee St Unit 1132 Trenton, NJ	3.0	1.0	1198	$2,500	$2.09	21d	1	1.41mi
311 Calhoun St Trenton, NJ	4.0	1.0	1516	$2,400	$1.58	44d	1	1.41mi
233 Virginia Ave Trenton, NJ	3.0	1.0	1302	$2,500	$1.92	13d	1	1.46mi
244 Jersey St Trenton, NJ	3.0	1.5	1368	$2,300	$1.68	14d	1	1.47mi

Listing history 4 events

1. 2025-09-02
   status Pending
2. 2025-08-29
   listed $200,000 Active
3. 2011-02-28
   historical
4. 2010-07-27
   listed $11,000

ⓘ 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: $1,219 · $102/mo
• Projected year-2 tax: $3,100 · $258/mo
• Expected delta: +$1,880/yr (+$157/mo · 154.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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: $30,119
• − Mortgage interest: −$11,203
• − Property taxes: −$1,219
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,410
• − Management: −$2,410
• − Depreciation: −$5,818
• Taxable income: $6,059
• Est. tax owed @ 24.0%: −$1,454
• After-tax cash flow: $7,535/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): 15,938
• Household income: $68,238
• Rent vs Own: 70.2% rent · 29.8% own
• Severe rent burden: 930.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 45% Black 43% Two or more races 12% White 8% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 11%
• Common ancestry: Hispanic 5% Swiss 2% Estonian 1%
• Foreign-born: 32% · Canada, Guatemala, China
• Languages at home: 51% English-only · Spanish 41% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -114.12%
• Current HPI: 275.8566
• Rent YoY: —
• 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

+1718.2% since first listed

4 events — show timeline

• 2025-09-02 Pending — BRIGHT MLS
• 2025-08-29 Listed $200,000 BRIGHT MLS
• 2011-02-28 Listing Removed — BRIGHT MLS
• 2010-07-27 Listed $11,000 BRIGHT MLS

Property tax history

-5.6%/yr

Latest (2025): $1,219 · +8.2% YoY. Source: county tax records.