135 Mercer St · Phillipsburg, NJ 08865-3041

$214,900

3 bd · 1.0 ba · 1,378 sqft · SingleFamily public records · 20 Days on market

Built 1900 1,306 sqft lot $156/sqft · 11% below area Est $242k · 11% 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 +18.2/30.0
• ARV discount +12.5/15.0
• DSCR +5.7/10.0
• Appreciation +5.0/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

New Roof, New Appliances, New energy saving solar panels! Welcome to this move in ready well-maintained home in the heart of Phillipsburg, New Jersey. Step into the main level where you will find a first-floor bedroom, spacious living room, eat in kitchen and first floor laundry area. The second floor offers two spacious bedrooms, full bathroom and walk in closet. The finish third level can be used as a home office, recreational or craft room. Enjoy a backyard perfect for summer entertainment. Close to recreation parks, shopping malls, restaurants & schools. Easy access to route 22 & 78, a commuter's dream! The home is just minutes from the historical downtown Easton.

Key facts

• Eat in kitchen
• New appliances
• New roof

Tags

• NEW ROOF
• NEW APPLIANCES
• ENERGY SAVING SOLAR PANELS
• FIRST FLOOR BEDROOM
• SPACIOUS LIVING ROOM
• EAT IN KITCHEN

Property features AI

Finance

• HOA & community: Pets allowed

Exterior

• Parking: On-street parking
• Utilities: Natural gas service; Public water; Public sewer
• Home design: 1/2 duplex; Approximate year built
• Construction: Cinder block siding; Asphalt shingle roof
• Exterior features: Level lot; Curbs; Open porch(es); Privacy fence; Wood fence; Sidewalk; Storm door(s)

Interior

• Kitchen: Eat-in kitchen — 9 x 14; Range/oven (electric); Refrigerator
• Bedrooms: Bedroom 1 (First level) — 9 x 13; Bedroom 2 (Second level) — 9 x 14; Bedroom 3 (Second level) — 14 x 16; Bedroom 4 (Second level)
• Flooring: Carpeting; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating (natural gas); Ceiling fan; Wall A/C unit(s)
• Interior features: Carbon monoxide detector; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (7.2% below list).
• Recommended offer: $200k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.9% in Phillipsburg — 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 (#135 in NJ, #3,552 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools C-, commute F.
• Phillipsburg School District (suburban): math 17% / reading 37% proficiency, ranked #381 of 472 in NJ (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 630 units permitted in Warren County in 2024 (315 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Warren County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $121k; list at $215k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,519 (7.2% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 0.93% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.83%
• DSCR: 1.17
• GRM: 9.0

CMA / ARV

• ARV (median comp): $241,565
• List price: $214,900
• Delta: -0.69%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1241 Cedarville Rd	0.68mi	3/1.5	1,488 (+8%)	5mo	$390,000	$262	48
127 High Point Ln	0.59mi	3/2.0	1,292 (-6%)	14mo	$285,000	$221	47
76 Glen Ave	0.54mi	4/1.0 (+1)	1,262 (-8%)	12mo	$259,900	$206	46
315 Mercer St	0.38mi	4/1.5 (+1)	1,518 (+10%)	16mo	$300,000	$198	45
201 E Nesquehoning St	0.72mi	2/1.5 (-1)	1,204 (-13%)	12mo	$250,000	$208	28

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: 11.1%
• Equity multiple: 1.63×
• Total profit: $38,096
• Equity at exit: $96,628

10-year hold

• IRR: 13.3%
• Equity multiple: 2.97×
• Total profit: $118,453
• Equity at exit: $148,916

Cash invested: $60,172 (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 08865-3041

• Active inventory: 1
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,995 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $192

Break-even live

Break-even rent $1,752

Max offer price $214,900

Occupancy floor 85%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Sitgreaves St Unit 3B Phillipsburg, NJ	2.0	1.0	900	$1,650	$1.83	23d	1	0.16mi
1 Sitgreaves St Unit 3B Phillipsburg, NJ	2.0	1.0	900	$1,600	$1.78	2d	1	0.16mi
210 Washington St Phillipsburg, NJ	4.0	1.5	1000	$2,300	$2.30	2d	1	0.37mi
152 S Main St Phillipsburg, NJ	2.0	1.0	900	$1,650	$1.83	23d	1	0.44mi
226 Vista Dr Easton, PA	3.0	1.5	1358	$2,195	$1.62	2d	1	0.55mi
75 S Main St Phillipsburg, NJ	1.0–2.0	1.0–2.0	847	$2,239	$2.64	2d	4	0.58mi
43-45 S Main St Unit 3 Phillipsburg, NJ	3.0	2.0	1200	$2,200	$1.83	23d	1	0.62mi
689 Sayre Ave Phillipsburg, NJ	4.0	1.5	1376	$2,200	$1.60	2d	1	0.77mi
100 Northampton St Easton, PA	1.0–2.0	1.0–2.0	995	$3,650	$3.67	2d	6	0.78mi
355 Thomas St Phillipsburg, NJ	3.0	1.5	1400	$2,250	$1.61	11d	1	0.83mi
270 Bates St Phillipsburg, NJ	2.0	1.0	1368	$2,100	$1.54	23d	1	0.89mi
199 Cedar Park Blvd Easton, PA	1.0–3.0	1.0–4.0	1410	$3,035	$2.15	2d	10	0.91mi
322 Saint John St Easton, PA	3.0	1.5	1583	$1,895	$1.20	44d	1	0.94mi
214 Spring Garden St Unit 2B Easton, PA	2.0	1.0	1250	$2,995	$2.40	21d	1	0.96mi
140 S 4th St Easton, PA	2.0	1.0–2.0	841	$2,460	$2.93	2d	106	0.96mi
330 Northampton St Easton, PA	2.0	2.0	1088	$1,750	$1.61	44d	1	1.01mi
330 Northampton St Unit 205 Easton, PA	2.0	2.0	1088	$1,750	$1.61	23d	1	1.01mi
49 N Delaware Dr Unit 3rd Floor Easton, PA	2.0	1.0	1500	$2,495	$1.66	19d	1	1.01mi
276 W Saint Joseph St Easton, PA	3.0	1.5	1315	$1,700	$1.29	44d	1	1.05mi
303 W Lincoln St Easton, PA	3.0	1.0	1796	$2,175	$1.21	44d	1	1.12mi
40 S 6th St Easton, PA	1.0–2.0	1.0–2.0	1156	$3,000	$2.59	14d	11	1.15mi
142 S Union St Easton, PA	3.0	2.0	1300	$1,895	$1.46	44d	1	1.17mi
215 Cattell St Unit 2nd Floor Easton, PA	2.0	1.0	1000	$1,600	$1.60	23d	1	1.23mi
623 Walnut St Unit C2 Easton, PA	2.0	2.5	1500	$2,300	$1.53	44d	1	1.24mi
623 Walnut St Unit A2 Easton, PA	2.0	2.0	1500	$2,250	$1.50	23d	1	1.24mi
457 W Lincoln St Easton, PA	1.0–2.0	1.0–2.0	837	$1,932	$2.31	2d	6	1.35mi
29 S 7th St Easton, PA	2.0	2.0	1100	$1,350	$1.23	14d	1	1.38mi
35 N 7th St Easton, PA	3.0	1.0	1088	$1,750	$1.61	14d	1	1.40mi
513 Cattell St Easton, PA	3.0	1.5	1536	$2,300	$1.50	44d	1	1.43mi
812 Ferry St Easton, PA	2.0	1.0	1000	$1,640	$1.64	23d	1	1.44mi
137 N 7th St Apt 1 Easton, PA	2.0	1.0	1000	$1,395	$1.40	2d	1	1.45mi
810 Pine St Easton, PA	3.0	1.0	1120	$1,800	$1.61	23d	1	1.46mi
810 Pine St Easton, PA	3.0	1.0	1120	$1,800	$1.61	44d	1	1.46mi
600 Canal St Easton, PA	2.0	1.0	900	$1,599	$1.78	2d	2	1.48mi
600 Canal St Easton, PA	2.0	1.0	900	$1,599	$1.78	23d	2	1.48mi
214 N 7th St Unit NA Easton, PA	2.0	1.0	1000	$1,550	$1.55	2d	1	1.50mi

Listing history 23 events

1. 2026-06-18
   days on market $214,900 Active 20 DOM
2. 2026-06-17
   days on market $214,900 Active 19 DOM
3. 2026-06-16
   days on market $214,900 Active 18 DOM
4. 2026-06-15
   days on market $214,900 Active 17 DOM
5. 2026-06-14
   days on market $214,900 Active 15 DOM
6. 2026-06-13
   days on market $214,900 Active 14 DOM
7. 2026-06-10
   days on market $214,900 Active 12 DOM
8. 2026-06-09
   days on market $214,900 Active 11 DOM
9. 2026-06-08
   days on market $214,900 Active 10 DOM
10. 2026-06-07
    days on market $214,900 Active 9 DOM
11. 2026-06-05
    days on market $214,900 Active 6 DOM
12. 2026-06-03
    days on market $214,900 Active 5 DOM
13. 2026-06-02
    days on market $214,900 Active 4 DOM
14. 2026-06-01
    days on market $214,900 Active 3 DOM
15. 2026-05-31
    days on market $214,900 Active 2 DOM
16. 2026-05-31
    pricedays on marketlisting id $214,900 Active 1 DOM
17. 2026-04-25
    listed $239,900 Active 692-char remark
18. 2026-04-24
    historical $239,900 692-char remark
19. 2021-12-16
    soldstatus $121,300
20. 2021-12-06
    historical
21. 2021-12-02
    soldstatus $121,300 Sold
22. 2021-08-27
    listed $115,000 Active
23. 1990-08-29
    soldstatus $62,000

ⓘ 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: $2,010 · $168/mo
• Projected year-2 tax: $3,681 · $307/mo
• Expected delta: +$1,670/yr (+$139/mo · 83.1%)

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,942
• − Mortgage interest: −$12,038
• − Property taxes: −$2,010
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$6,252
• Taxable loss: −$1,263
• Est. tax savings @ 24.0%: +$303
• After-tax cash flow: $2,609/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: Phillipsburg School District
• NCES district ID: 3412960
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $45,364
• Composite: 23.2/100
• National rank: #7943
• State rank: #381 of 472 in NJ

Livability — Phillipsburg

• Score: 76/100
• State rank: #135
• US rank: #3552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phillipsburg, NJ

Population outlook (Warren County) Hauer SSP2

• Today (2025): 105,498 people
• By 2030: 103,974 · -1.4%
• By 2040: 99,748 · -5.5%
• By 2050: 94,535 · -10.4%
• By 2075: 87,220 · -17.3%
• By 2100: 80,421 · -23.8%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+246.6% since first listed

6 events — show timeline

• 2026-05-29 Listed $214,900 GSMLS
• 2021-12-16 Sold (Public Records) $121,300 Public Records
• 2021-12-06 Delisted — GSMLS
• 2021-12-02 Sold (MLS) $121,300 GSMLS
• 2021-08-27 Listed $115,000 GSMLS
• 1990-08-29 Sold (Public Records) $62,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $2,010 · +2.9% YoY. Source: county tax records.