860 Lower Ferry Rd Unit 6M · Ewing, NJ 08628

$179,900

2 bd · 2.0 ba · 1,260 sqft · Condo · 27 Days on market

Built 1973 Good condition $757/mo HOA · 27% of rent

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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 +19.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• $757 HOA
• Community pool
• Built 1973

Property features AI

Finance

• Other: Property manager present; Pets not allowed; Property condition listed as excellent; Estimated year built and finished area (above grade finished area ~1,260)
• HOA & community: Monthly condo fee of $757; Association covers appliance maintenance, common area maintenance, electricity, health club, heat, parking fee, pool(s), sewer, snow removal, trash, and water; Community amenities include community center, fitness center, game room, storage bin, elevator, and swimming pool

Exterior

• Parking: Parking lot; Reserved/assigned parking included in association amenities
• Utilities: Public water; Public sewer
• Home design: Condominium unit in a mid-rise building (5–8 floors); Unit/flat in Cambridge Hall; Senior community (55+); Entry on 6th floor
• Construction: Brick construction
• Exterior features: Community pool; Above-grade additional structures

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (including two full on main level)
• Heating & cooling: Baseboard electric heating; Wall unit cooling; Natural gas hot water
• Interior features: Elevator access; Doors swing inward
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $177k (1.5% 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 27 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% 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 $177,201 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.54% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 5.4

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-16,412
• Equity at exit: $26,824

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $3,519
• Equity at exit: $15,554

Cash invested: $50,372 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,775 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$757
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $192

Break-even live

Break-even rent $2,532

Max offer price $179,900

Occupancy floor 88%

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: $44,975
• Closing costs: $5,397
• 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
34 Western Ave Ewing Township, NJ	1.0–3.0	1.0–1.5	832	$2,218	$2.66	13d	3	1.18mi
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
103 Pennsylvania Ave Ewing, NJ	3.0	1.0	1200	$2,600	$2.17	13d	1	1.39mi

HOA detail condo

• Monthly dues: $757 · $9,084/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $179,900 Active 27 DOM
2. 2026-06-17
   days on market $179,900 Active 26 DOM
3. 2026-06-16
   days on market $179,900 Active 25 DOM
4. 2026-06-15
   days on market $179,900 Active 24 DOM
5. 2026-06-14
   days on market $179,900 Active 22 DOM
6. 2026-06-13
   days on market $179,900 Active 21 DOM
7. 2026-06-10
   days on market $179,900 Active 19 DOM
8. 2026-06-09
   days on market $179,900 Active 18 DOM
9. 2026-06-08
   days on market $179,900 Active 17 DOM
10. 2026-06-07
    days on market $179,900 Active 16 DOM
11. 2026-06-03
    days on market $179,900 Active 12 DOM
12. 2026-06-02
    days on market $179,900 Active 11 DOM
13. 2026-06-01
    days on market $179,900 Active 10 DOM
14. 2026-05-31
    days on market $179,900 Active 9 DOM
15. 2026-05-30
    days on market $179,900 Active 8 DOM
16. 2026-05-22
    listed $179,900 Active

ⓘ 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: $33,301
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,664
• − Management: −$2,664
• − HOA: −$9,084
• − Depreciation: −$5,233
• Taxable loss: −$20
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $2,309/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated condo is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-22 Listed $179,900 BRIGHT MLS