324 Allen Ave · Salem, NJ 08079

$149,999

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 57 Days on market

Built 1929 5,702 sqft lot Est $207k · 27% under

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Why this score? — see what drove the C+ 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 +18.6/30.0
• ARV discount +15.0/15.0
• 1% rule +6.9/10.0
• DSCR +5.9/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

Key facts

• 5,702 sq ft lot
• Built 1929
• Listed 56 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached home; Frame construction
• Construction: Frame construction; Slab foundation; Estimated year built
• Exterior features: Detached structure; Above-grade other structures

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Other heating; Other cooling; Other hot water
• Interior features: Unfinished basement; Has fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: schools D, amenities F, commute F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 100 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $467 of equity ($1k loan paydown + $-570 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 27y ago; this cycle's ask has dropped $50k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1929 — 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 $145,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.19% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $206,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Allen Ave	0.08mi	3/1.5	1,460 (+0%)	7mo	$225,000	$154	90
272 E Broadway	0.17mi	3/2.0	1,500 (+3%)	1mo	$65,000	$43	84
363 Grant St	0.24mi	3/2.5	1,424 (-2%)	0mo	$250,000	$176	81
170 Johnson St	0.18mi	3/1.0	1,417 (-3%)	9mo	$180,000	$127	78
318 Fenwick Ave	0.17mi	3/1.0	1,344 (-8%)	3mo	$191,250	$142	75
264 E Broadway	0.19mi	3/1.5	1,584 (+9%)	5mo	$150,000	$95	72
207 9th St	0.20mi	3/1.5	1,562 (+7%)	8mo	$230,000	$147	72
304 New Market St	0.40mi	3/1.0	1,310 (-10%)	4mo	$186,000	$142	60
410 Magnolia St	0.38mi	2/1.0 (-1)	1,310 (-10%)	1mo	$170,000	$130	58
18 Market St	0.66mi	2/1.0 (-1)	1,546 (+6%)	2mo	$235,870	$153	50
14 Hillcrest Ave	0.54mi	4/1.0 (+1)	1,649 (+13%)	6mo	$196,000	$119	41
115 Chestnut St	0.54mi	3/3.5	1,282 (-12%)	8mo	$185,000	$144	41

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

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.06×
• Total profit: $2,388
• Equity at exit: $40,725

10-year hold

• IRR: 7.2%
• Equity multiple: 1.75×
• Total profit: $31,420
• Equity at exit: $46,749

Cash invested: $42,000 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$787
• Tax from tax record: −$416 /mo · $4,996/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $146

Break-even live

Break-even rent $1,602

Max offer price $149,999

Occupancy floor 87%

Sensitivity live

Price	-10% $230	-5% $188	+0% $146	+5% $103	+10% $61
Rent	-10% $4	-5% $75	+0% $146	+5% $216	+10% $287
Rate	-1.0pp $221	-0.5pp $184	base $146	+0.5pp $107	+1.0pp $67

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	44d	1	0.08mi
1 9th St Salem, NJ	2.0	1.0	900	$1,450	$1.61	2d	1	0.18mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	2d	1	0.22mi
218 Sinnickson St Salem, NJ	2.0	1.0	1008	$1,500	$1.49	2d	1	0.28mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	6d	1	0.31mi
26 Walnut St Unit A Salem, NJ	2.0	1.0	1000	$1,225	$1.23	2d	1	0.31mi
242 Grant St Unit 1ST FLOOR Salem, NJ	2.0	1.0	925	$1,675	$1.81	2d	1	0.35mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	2d	1	0.51mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	4d	1	0.57mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	3d	1	0.73mi

Listing history 48 events

1. 2026-06-18
   days on market $149,999 Active 57 DOM
2. 2026-06-17
   pricestatus $149,999 Active 56 DOM
3. 2026-04-15
   historical Active Under Contract
4. 2026-02-17
   listed $199,999 Active
5. 2026-02-16
   historical $199,999
6. 2023-07-18
   status Active 127-char remark

   Show marketing remark (127 chars)

   Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

7. 2023-07-13
   soldstatus $120,000 Closed 127-char remark

   Show marketing remark (127 chars)

   Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

8. 2023-06-30
   status Pending 127-char remark

   Show marketing remark (127 chars)

   Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

9. 2023-06-30
   status Active 127-char remark

   Show marketing remark (127 chars)

   Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

10. 2023-05-26
    status Pending 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

11. 2023-05-23
    historical Active Under Contract 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

12. 2023-05-18
    status Active 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

13. 2023-05-16
    historical Active Under Contract 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

14. 2023-05-09
    status Active 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

15. 2023-01-14
    historical 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

16. 2023-01-13
    listed $150,000 Active 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

17. 2022-12-29
    historical $150,000 127-char remark

    Show marketing remark (127 chars)

    Home is being sold strictly "as-is". All inspections and certifications will be the sole responsibility of the buyer.

18. 2022-06-24
    historical
19. 2022-06-22
    listed $159,000 Active
20. 2020-01-13
    historical
21. 2019-10-11
    listed $100,000 Active
22. 2019-08-27
    historical
23. 2019-08-22
    price $99,000
24. 2019-08-22
    status Active
25. 2019-07-16
    price $90,000
26. 2019-07-16
    historical
27. 2019-06-28
    price $110,000
28. 2019-06-27
    status Active
29. 2019-03-29
    status Pending
30. 2019-03-28
    historical
31. 2019-03-14
    price $120,000
32. 2019-02-03
    price $130,000
33. 2019-01-17
    price $160,000
34. 2019-01-16
    price $135,000
35. 2019-01-04
    price $150,000
36. 2018-12-17
    price $170,000
37. 2018-11-09
    listed $180,000 Active
38. 2018-09-29
    soldstatus $22,000 Sold
39. 2018-09-29
    soldstatus $22,000 Closed
40. 2018-08-24
    status Pending
41. 2018-08-24
    status Under Contract
42. 2018-08-16
    listed $21,200 Active
43. 2018-08-16
    listed $21,200 Active
44. 2001-08-31
    soldstatus $79,500
45. 2001-08-31
    soldstatus $79,500
46. 2001-07-05
    historical
47. 1999-10-15
    listed $79,500
48. 1992-05-21
    soldstatus $70,000

ⓘ 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: $4,996 · $416/mo
• Projected year-2 tax: $4,996 · $416/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 5/10 Major FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,432
• − Mortgage interest: −$8,402
• − Property taxes: −$4,996
• − Insurance: −$750
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$4,364
• Taxable loss: −$509
• Est. tax savings @ 24.0%: +$122
• After-tax cash flow: $1,868/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: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• 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

+185.7% since first listed

46 events — show timeline

• 2026-04-15 Contingent — BRIGHT MLS
• 2026-02-17 Listed $199,999 BRIGHT MLS
• 2026-02-16 Coming Soon $199,999 BRIGHT MLS
• 2023-07-18 Relisted — BRIGHT MLS
• 2023-07-13 Sold (MLS) $120,000 BRIGHT MLS
• 2023-06-30 Pending — BRIGHT MLS
• 2023-06-30 Relisted — BRIGHT MLS
• 2023-05-26 Pending — BRIGHT MLS
• 2023-05-23 Contingent — BRIGHT MLS
• 2023-05-18 Relisted — BRIGHT MLS
• 2023-05-16 Contingent — BRIGHT MLS
• 2023-05-09 Relisted — BRIGHT MLS
• 2023-01-14 Listing Removed — BRIGHT MLS
• 2023-01-13 Listed $150,000 BRIGHT MLS
• 2022-12-29 Coming Soon $150,000 BRIGHT MLS
• 2022-06-24 Listing Removed — BRIGHT MLS
• 2022-06-22 Listed $159,000 BRIGHT MLS
• 2020-01-13 Listing Removed — BRIGHT MLS
• 2019-10-11 Listed $100,000 BRIGHT MLS
• 2019-08-27 Listing Removed — BRIGHT MLS
• 2019-08-22 Price Changed $99,000 BRIGHT MLS
• 2019-08-22 Relisted — BRIGHT MLS
• 2019-07-16 Price Changed $90,000 BRIGHT MLS
• 2019-07-16 Listing Removed — BRIGHT MLS
• 2019-06-28 Price Changed $110,000 BRIGHT MLS
• 2019-06-27 Relisted — BRIGHT MLS
• 2019-03-29 Pending — BRIGHT MLS
• 2019-03-28 Listing Removed — BRIGHT MLS
• 2019-03-14 Price Changed $120,000 BRIGHT MLS
• 2019-02-03 Price Changed $130,000 BRIGHT MLS
• 2019-01-17 Price Changed $160,000 BRIGHT MLS
• 2019-01-16 Price Changed $135,000 BRIGHT MLS
• 2019-01-04 Price Changed $150,000 BRIGHT MLS
• 2018-12-17 Price Changed $170,000 BRIGHT MLS
• 2018-11-09 Listed $180,000 BRIGHT MLS
• 2018-09-29 Sold (MLS) $22,000 BRIGHT MLS
• 2018-09-29 Sold (MLS) $22,000 TREND
• 2018-08-24 Pending — BRIGHT MLS
• 2018-08-24 Pending — TREND
• 2018-08-16 Listed $21,200 BRIGHT MLS
• 2018-08-16 Listed $21,200 TREND
• 2001-08-31 Sold (Public Records) $79,500 Public Records
• 2001-08-31 Sold (MLS) $79,500 BRIGHT MLS
• 2001-07-05 Listing Removed — BRIGHT MLS
• 1999-10-15 Listed $79,500 BRIGHT MLS
• 1992-05-21 Sold (Public Records) $70,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $4,996 · +4.9% YoY. Source: county tax records.