4 Walnut St · Salem, NJ 08079

$225,000

4 bd · 2.0 ba · 1,760 sqft · SingleFamily public records

Built 1900 3,119 sqft lot Est $213k · 6% over

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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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +5.5/10.0
• ARV discount +5.0/15.0
• 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

SELLER OFFERING CLOSING COST HELP IF NEEDED! USDA AREA, qualified for 0% down , call us about special financing. Welcome to 4 Walnut- private corner lot - Brand new SS appliances - Quartz tops - Luxury Vinyl Planks throughout - EE hit hat lighting - New roof and siding - 6 panel solid doors - Buying agent friendly. Easy access, Go and Show anytime. 20 minutes from Christiana Mall!

Key facts

• 3,119 sq ft lot
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).

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; 2 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,370/mo this rent would consume 52% of the median local household income ($55k/yr) (locally 663% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $701 of equity ($2k loan paydown + $-855 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 $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 20y 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 $55k; list at $225k implies a 309% 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: major 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 $225,000

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. 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?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $212,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Walnut St	0.01mi	4/2.0	1,764 (+0%)	2mo	$70,000	$40	98
187 7th St	0.13mi	4/2.0	1,929 (+10%)	3mo	$67,000	$35	76
175 9th St	0.25mi	3/1.0 (-1)	1,776 (+1%)	3mo	$195,000	$110	76
334 Craven Ave	0.36mi	4/1.5	1,843 (+5%)	2mo	$245,000	$133	72
200 N Union St	0.40mi	3/2.0 (-1)	1,686 (-4%)	2mo	$207,500	$123	68
264 E Broadway	0.14mi	3/1.5 (-1)	1,584 (-10%)	5mo	$150,000	$95	66
272 E Broadway	0.15mi	3/2.0 (-1)	1,500 (-15%)	1mo	$65,000	$43	62
207 9th St	0.19mi	3/1.5 (-1)	1,562 (-11%)	8mo	$230,000	$147	58
178 Cook Ave	0.60mi	3/1.5 (-1)	1,665 (-5%)	0mo	$255,000	$153	56
321 Fenwick Ave	0.37mi	3/1.0 (-1)	1,622 (-8%)	10mo	$196,100	$121	52
14 Hillcrest Ave	0.72mi	4/1.0	1,649 (-6%)	6mo	$196,000	$119	47
164 N Union St	0.48mi	3/1.5 (-1)	1,516 (-14%)	9mo	$199,000	$131	40

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: 2.6%
• Equity multiple: 1.12×
• Total profit: $7,426
• Equity at exit: $61,088

10-year hold

• IRR: 8.4%
• Equity multiple: 1.87×
• Total profit: $54,890
• Equity at exit: $70,124

Cash invested: $63,000 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,370 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$317 /mo · $3,805/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $282

Break-even live

Break-even rent $2,014

Max offer price $225,000

Occupancy floor 83%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	5d	1	0.27mi
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	44d	1	0.30mi

Listing history 50 events

1. 2026-04-25
   historical $2,475
2. 2026-04-10
   listed $225,000
3. 2026-04-10
   historical
4. 2026-03-13
   listed $2,475
5. 2026-01-16
   historical
6. 2025-11-04
   price $225,000
7. 2025-08-31
   listed $240,000 Active
8. 2025-08-27
   historical
9. 2025-07-29
   price $249,888
10. 2025-07-12
    price $260,000
11. 2025-07-08
    status Active
12. 2025-05-11
    status Pending
13. 2025-04-24
    listed $265,000 Active
14. 2025-04-21
    historical
15. 2025-03-29
    price $273,999
16. 2025-03-07
    listed $279,000 Active
17. 2025-02-24
    historical
18. 2025-02-12
    soldstatus $55,000
19. 2025-01-28
    soldstatus $55,000 Closed
20. 2025-01-05
    historical Active Under Contract
21. 2024-11-02
    price $79,995
22. 2024-11-02
    status Active
23. 2024-10-31
    historical
24. 2024-10-11
    price $79,999
25. 2024-05-08
    listed $85,300 Active
26. 2022-10-24
    soldstatus $55,000
27. 2022-09-14
    soldstatus $55,000 Closed
28. 2022-06-29
    status Pending
29. 2022-06-09
    price $55,000
30. 2022-05-24
    price $65,900
31. 2022-05-16
    listed $80,000 Active
32. 2020-10-13
    soldstatus $47,000
33. 2020-10-08
    soldstatus $47,000 Closed
34. 2020-09-24
    price $47,000
35. 2020-09-24
    status Pending
36. 2020-09-21
    price $54,999
37. 2020-09-01
    price $49,000
38. 2020-08-03
    price $59,900
39. 2020-07-29
    price $49,999
40. 2020-07-14
    price $59,999
41. 2020-06-10
    price $62,900
42. 2020-04-23
    listed $67,900 Active
43. 2014-09-24
    soldstatus $61,250
44. 2011-03-30
    historical
45. 2010-12-17
    soldstatus $200,000
46. 2010-09-01
    listed $50,000
47. 2009-08-31
    historical
48. 2009-04-06
    listed $84,900
49. 2006-10-30
    historical
50. 2006-04-26
    listed $89,900

ⓘ 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: $3,805 · $317/mo
• Projected year-2 tax: $4,704 · $392/mo
• Expected delta: +$899/yr (+$75/mo · 23.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% 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: $28,442
• − Mortgage interest: −$12,603
• − Property taxes: −$3,805
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,275
• − Management: −$2,275
• − Depreciation: −$6,545
• Taxable loss: −$188
• Est. tax savings @ 24.0%: +$45
• After-tax cash flow: $3,425/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

-95.1% since first listed

53 events — show timeline

• 2026-04-25 Rental Removed $2,475 BRIGHTMLS
• 2026-04-10 Listing Removed — BRIGHT MLS
• 2026-04-10 Listed $225,000 BRIGHT MLS
• 2026-03-13 Listed for Rent $2,475 BRIGHTMLS
• 2026-01-16 Listing Removed — BRIGHT MLS
• 2025-11-04 Price Changed $225,000 BRIGHT MLS
• 2025-08-31 Listed $240,000 BRIGHT MLS
• 2025-08-27 Listing Removed — BRIGHT MLS
• 2025-07-29 Price Changed $249,888 BRIGHT MLS
• 2025-07-12 Price Changed $260,000 BRIGHT MLS
• 2025-07-08 Relisted — BRIGHT MLS
• 2025-05-11 Pending — BRIGHT MLS
• 2025-04-24 Listed $265,000 BRIGHT MLS
• 2025-04-21 Listing Removed — BRIGHT MLS
• 2025-03-29 Price Changed $273,999 BRIGHT MLS
• 2025-03-07 Listed $279,000 BRIGHT MLS
• 2025-02-24 Coming Soon — BRIGHT MLS
• 2025-02-12 Sold (Public Records) $55,000 Public Records
• 2025-01-28 Sold (MLS) $55,000 BRIGHT MLS
• 2025-01-05 Contingent — BRIGHT MLS
• 2024-11-02 Price Changed $79,995 BRIGHT MLS
• 2024-11-02 Relisted — BRIGHT MLS
• 2024-10-31 Listing Removed — BRIGHT MLS
• 2024-10-11 Price Changed $79,999 BRIGHT MLS
• 2024-05-08 Listed $85,300 BRIGHT MLS
• 2022-10-24 Sold (Public Records) $55,000 Public Records
• 2022-09-14 Sold (MLS) $55,000 BRIGHT MLS
• 2022-06-29 Pending — BRIGHT MLS
• 2022-06-09 Price Changed $55,000 BRIGHT MLS
• 2022-05-24 Price Changed $65,900 BRIGHT MLS
• 2022-05-16 Listed $80,000 BRIGHT MLS
• 2020-10-13 Sold (Public Records) $47,000 Public Records
• 2020-10-08 Sold (MLS) $47,000 BRIGHT MLS
• 2020-09-24 Price Changed $47,000 BRIGHT MLS
• 2020-09-24 Pending — BRIGHT MLS
• 2020-09-21 Price Changed $54,999 BRIGHT MLS
• 2020-09-01 Price Changed $49,000 BRIGHT MLS
• 2020-08-03 Price Changed $59,900 BRIGHT MLS
• 2020-07-29 Price Changed $49,999 BRIGHT MLS
• 2020-07-14 Price Changed $59,999 BRIGHT MLS
• 2020-06-10 Price Changed $62,900 BRIGHT MLS
• 2020-04-23 Listed $67,900 BRIGHT MLS
• 2014-09-24 Sold (Public Records) $61,250 Public Records
• 2011-03-30 Listing Removed — BRIGHT MLS
• 2010-12-17 Sold (Public Records) $200,000 Public Records
• 2010-09-01 Listed $50,000 BRIGHT MLS
• 2009-08-31 Listing Removed — BRIGHT MLS
• 2009-04-06 Listed $84,900 BRIGHT MLS
• 2006-10-30 Listing Removed — BRIGHT MLS
• 2006-04-26 Listed $89,900 BRIGHT MLS
• 2006-04-17 Sold (MLS) $51,000 BRIGHT MLS
• 2006-03-27 Listing Removed — BRIGHT MLS
• 2006-01-12 Listed $51,000 BRIGHT MLS

Property tax history

+2.0%/yr

Latest (2025): $3,805 · +4.9% YoY. Source: county tax records.