860 Lower Ferry Rd Unit 5P · Ewing, NJ 08628

$179,000

2 bd · 2.0 ba · 1,506 sqft · Condo · 146 Days on market

Built 1973 $849/mo HOA · 30% of rent ↓ 5% since listing

---

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 +17.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The Cambridge Hall 55+ community possesses many attributes for easy living! This is a 2-bedroom, 2 full bath unit, one of the largest square footage units offered in this building. And, one of the only units with the convenience of central air conditioning. Beautiful wood floors flow through the large living room, with plenty of natural light and French doors which open to a formal dining room, great for entertaining. The galley style kitchen offers ample cabinet & counter space, and opens to a breakfast nook. The wood floors continue into the roomy master bedroom offering extensive built-in closet/drawer space and a full master bathroom. Furthermore, you'll have the convenience of a

Key facts

• $849 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Pets are not allowed; Cross street: Parkway; Entry floor: 5; Municipality: Ewing Township
• HOA & community: Monthly condo fee includes heat, water, sewer, and electricity; Community amenities include exercise room, game room, library, and outdoor pool; Condo fee listed monthly

Exterior

• Parking: Assigned parking space in a parking lot (1 assigned space)
• Utilities: Public water; Public sewer; Electric cooling and heating
• Home design: Condominium unit; Mid-rise building (5–8 floors); Unit/flat structure; Entry level on 5th floor; Senior community (55+); Facing/directions not specified
• Construction: Brick construction; Estimated year built
• Exterior features: Community pool; No basement; Above grade other structures

Interior

• Kitchen: Kitchen (appliances not listed)
• Bedrooms: Two bedrooms on the main level; Total rooms include Living Room, Dining Room, Master Bedroom, Kitchen, and one additional Bedroom
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central A/C (electric); Hot water and baseboard heating (electric); Hot water supplied by oil
• Interior features: Elevator; Intercom; Estimated living area
• Laundry & utility: Washer/dryer hookup in unit; Laundry located on the main floor

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ewing Township School District (suburban): math 16% / reading 37% proficiency, ranked #358 of 472 in NJ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• 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 $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.58% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 5.3

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-19,196
• Equity at exit: $26,689

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,518
• Equity at exit: $15,477

Cash invested: $50,120 (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 08628

• Active inventory: 39
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,824 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$849
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $145

Break-even live

Break-even rent $2,641

Max offer price $179,000

Occupancy floor 90%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
830 Lower Ferry Rd Ewing, NJ	3.0	2.0	1438	$2,975	$2.07	13d	1	0.15mi
500 Silvia St Ewing, NJ	1.0–2.0	1.0–2.0	1076	$2,845	$2.64	1d	14	0.44mi
125 W Farrell Ave Ewing Township, NJ	1.0–2.0	1.0	975	$2,460	$2.52	12d	6	0.44mi
33 Sunset Ave Ewing, NJ	3.0	1.0	1260	$2,750	$2.18	13d	1	1.29mi
74 Kyle Way Ewing Township, NJ	2.0	2.0	1253	$2,400	$1.92	21d	1	1.33mi
1698 Pennington Rd Unit 2ND FLR Ewing Township, NJ	3.0	1.0	2211	$1,900	$0.86	21d	1	1.34mi
103 Pennsylvania Ave Ewing, NJ	3.0	1.0	1200	$2,600	$2.17	13d	1	1.39mi

HOA detail condo

• Monthly dues: $849 · $10,188/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $179,000 Active 146 DOM
2. 2026-06-17
   days on market $179,000 Active 145 DOM
3. 2026-06-16
   days on market $179,000 Active 144 DOM
4. 2026-06-15
   days on market $179,000 Active 143 DOM
5. 2026-06-14
   days on market $179,000 Active 141 DOM
6. 2026-06-13
   days on market $179,000 Active 140 DOM
7. 2026-06-10
   days on market $179,000 Active 138 DOM
8. 2026-06-09
   days on market $179,000 Active 137 DOM
9. 2026-06-08
   days on market $179,000 Active 136 DOM
10. 2026-06-07
    days on market $179,000 Active 135 DOM
11. 2026-06-03
    days on market $179,000 Active 131 DOM
12. 2026-06-02
    days on market $179,000 Active 130 DOM
13. 2026-06-01
    days on market $179,000 Active 129 DOM
14. 2026-05-31
    days on market $179,000 Active 128 DOM
15. 2026-05-30
    days on market $179,000 Active 127 DOM
16. 2026-05-16
    price $179,000
17. 2026-03-13
    price $184,000
18. 2026-01-24
    listed $189,000 Active
19. 2026-01-21
    historical $189,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,891
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,711
• − Management: −$2,711
• − HOA: −$10,188
• − Depreciation: −$5,207
• Taxable loss: −$533
• Est. tax savings @ 24.0%: +$128
• After-tax cash flow: $1,870/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: Ewing Township School District
• NCES district ID: 3404920
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $73,684
• Composite: 25.48/100
• National rank: #7443
• State rank: #358 of 472 in NJ

Livability — Ewing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 22,816
• Population (ZIP): 9,479

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 0.56)
• Race & ethnicity: White 63% Black 17% Hispanic / Latino 10% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 7% Slovak 3% Scotch-Irish 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 6% Other Indo-European 3% German/W. Germanic 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: ▼ -199.76%
• Current HPI: 259.4472
• Rent YoY: —
• Metro: —
• 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

-5.3% since first listed

4 events — show timeline

• 2026-05-16 Price Changed $179,000 BRIGHT MLS
• 2026-03-13 Price Changed $184,000 BRIGHT MLS
• 2026-01-24 Listed $189,000 BRIGHT MLS
• 2026-01-21 Coming Soon $189,000 BRIGHT MLS