229 Hewitt St · Trenton, NJ 08611

$160,000

2 bd · 1.0 ba · 744 sqft · SingleFamily public records · 37 Days on market

Built 1877 Est $291k · 45% 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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Row house available in Trenton. Seller to provide clear CO.

Key facts

• Built 1877
• Listed 37 days

Property features AI

Finance

• Other: Living area approximately 744
• Financial info: Financial details not provided
• HOA & community: HOA or community fee details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Utility details not provided
• Home design: Built in 1877
• Construction: Original construction completed in 1877
• Exterior features: Located in the Chambersburg subdivision

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedroom count not provided
• Flooring: Flooring details not provided
• Bathrooms: Bathroom count not provided
• Heating & cooling: Heating and cooling details not provided
• Interior features: No interior feature details provided
• Laundry & utility: Laundry and utility details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 fast (+4.7%/yr); 84 active listings in the ZIP; 9 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 37% of the median local income ($57k/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 $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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $32k; list at $160k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.
• 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 $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1877 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.10% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.70%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $290,904
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
356 Cummings Ave	0.20mi	2/1.0	792 (+6%)	20mo	$207,000	$261	63
11 Remsen St	0.54mi	2/1.5	780 (+5%)	14mo	$305,000	$391	53

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,169
• Equity at exit: $23,857

10-year hold

• IRR: 10.1%
• Equity multiple: 1.84×
• Total profit: $37,793
• Equity at exit: $13,834

Cash invested: $44,800 (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 08611

• Rents YoY: 4.7%
• Active inventory: 84
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,755 high
• Mortgage (P&I): −$839
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $325

Break-even live

Break-even rent $1,343

Max offer price $160,000

Occupancy floor 76%

Sensitivity live

Price	-10% $415	-5% $370	+0% $325	+5% $280	+10% $234
Rent	-10% $186	-5% $256	+0% $325	+5% $394	+10% $463
Rate	-1.0pp $405	-0.5pp $366	base $325	+0.5pp $283	+1.0pp $241

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 Division St Apt 211 Trenton, NJ	1.0	1.0	675	$1,450	$2.15	21d	1	0.31mi
435 Tyler St Unit 123 Trenton, NJ	1.0	1.0	607	$1,475	$2.43	21d	1	0.67mi
435 Tyler St Apt 203 Trenton, NJ	1.0	1.0	662	$1,500	$2.27	21d	1	0.67mi
191 Parkinson Ave Trenton, NJ	2.0	1.0	664	$2,400	$3.61	14d	1	0.85mi
315 Wert Ave Trenton, NJ	2.0	1.0	685	$2,270	$3.31	13d	9	1.24mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	14d	2	1.30mi
114 Washington Ct Hamilton Township, NJ	1.0	1.0	560	$1,475	$2.63	21d	3	1.32mi
150 E State St Trenton, NJ	1.0	1.0	627	$1,750	$2.79	21d	1	1.33mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	21d	1	1.37mi

Listing history 22 events

1. 2026-06-18
   days on market $160,000 Active 37 DOM
2. 2026-06-17
   days on market $160,000 Active 36 DOM
3. 2026-06-16
   days on market $160,000 Active 35 DOM
4. 2026-06-15
   days on market $160,000 Active 34 DOM
5. 2026-06-14
   days on market $160,000 Active 32 DOM
6. 2026-06-10
   days on market $160,000 Active 29 DOM
7. 2026-06-09
   days on market $160,000 Active 28 DOM
8. 2026-06-08
   days on market $160,000 Active 27 DOM
9. 2026-06-07
   days on market $160,000 Active 26 DOM
10. 2026-06-03
    days on market $160,000 Active 22 DOM
11. 2026-06-02
    days on market $160,000 Active 21 DOM
12. 2026-06-01
    days on market $160,000 Active 20 DOM
13. 2026-05-31
    days on market $160,000 Active 19 DOM
14. 2026-05-30
    days on market $160,000 Active 18 DOM
15. 2026-05-12
    listed $160,000 Active
16. 2014-06-24
    soldstatus $32,000 59-char remark

    Show marketing remark (59 chars)

    Row house available in Trenton. Seller to provide clear CO.

17. 2014-06-24
    soldstatus $32,000 Sold 59-char remark

    Show marketing remark (59 chars)

    Row house available in Trenton. Seller to provide clear CO.

18. 2014-06-14
    status Under Contract 59-char remark

    Show marketing remark (59 chars)

    Row house available in Trenton. Seller to provide clear CO.

19. 2014-05-30
    historical 59-char remark

    Show marketing remark (59 chars)

    Row house available in Trenton. Seller to provide clear CO.

20. 2014-05-06
    listed $34,250 59-char remark

    Show marketing remark (59 chars)

    Row house available in Trenton. Seller to provide clear CO.

21. 2014-05-06
    listed $34,250 Active 59-char remark

    Show marketing remark (59 chars)

    Row house available in Trenton. Seller to provide clear CO.

22. 1980-12-01
    soldstatus $13,612

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$1,058/yr (+$88/mo · 56.7%)

ⓘ 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: $21,055
• − Mortgage interest: −$8,962
• − Property taxes: −$1,867
• − Insurance: −$800
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$4,655
• Taxable income: $1,402
• Est. tax owed @ 24.0%: −$337
• After-tax cash flow: $3,561/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): 31,995
• Household income: $56,788
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 2147.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 62% Black 20% Two or more races 18% White 14% Native American 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 2% Swiss 1% Hispanic 1%
• Foreign-born: 37% · Canada, Jamaica, Guatemala
• Languages at home: 41% English-only · Spanish 57% French/Haitian/Cajun 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: ▼ -267.62%
• Current HPI: 276.5427
• Rent YoY: ▲ 4.71%
• 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

+1075.4% since first listed

8 events — show timeline

• 2026-05-12 Listed $160,000 FSBO.com
• 2014-06-24 Sold (MLS) $32,000 TREND
• 2014-06-24 Sold (MLS) $32,000 BRIGHT MLS
• 2014-06-14 Pending — TREND
• 2014-05-30 Listing Removed — BRIGHT MLS
• 2014-05-06 Listed $34,250 TREND
• 2014-05-06 Listed $34,250 BRIGHT MLS
• 1980-12-01 Sold (Public Records) $13,612 Public Records

Property tax history

-1.6%/yr

Latest (2025): $1,867 · +1.5% YoY. Source: county tax records.