120 32ND St Unit 2N · Union City, NJ 07087

$310,000

1 bd · 1.0 ba · 578 sqft · Condo public records · 116 Days on market

Built 1966 $371/mo HOA · 14% of rent

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +2.2/10.0

Listing remarks MLS

This beautifully renovated, bright, south-facing one bedroom condo in the Cambridge building also comes with one parking spot. Highly connected location with a quick 13 minute commute to midtown Manhattan, as well as easy access to Hoboken and Weehawken. Contemporary kitchen and bath, easy layout, and plenty of storage make this the perfect home. The building is pet friendly, has on-site laundry facilities, and low monthly maintenance costs.

Key facts

• Parking spot
• South facing
• Pet friendly

Tags

• SOUTH FACING
• PARKING SPOT
• HIGHLY CONNECTED LOCATION
• EASY ACCESS TO HOBOKEN
• EASY ACCESS TO WEEHAWKEN
• PET FRIENDLY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $310k.

Deal economics

• At list price, monthly cash flow is $-272 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (12.2% below list).
• Recommended offer: $262k (15.5% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 2.3% in Union City — 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 77/100 on livability (#117 in NJ, #2,998 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: cost of living F.
• Union City School District (suburban): math 15% / reading 36% proficiency, ranked #399 of 472 in NJ (top 84%) — 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.
• Zoned schools: George Washington Elementary School (math 10% / reading 29%, grade F, #1,012 of 1,303 statewide, top 79%, 779 students, 90% FRL); Union Hill Middle School (math 18% / reading 40%, grade F, #321 of 431 statewide, top 77%, 849 students, 91% FRL); Union City High School (math 12% / reading 35%, grade F, #331 of 399 statewide, top 83%, 3,025 students, 83% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: Rents flat; 228 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $2,722/mo this rent would consume 51% of the median local household income ($64k/yr) (locally 6042% 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 $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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.

Recommended offer $261,920 (15.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.88% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.76%
• DSCR: 0.83
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.68×
• Total profit: $146,053
• Equity at exit: $279,273

10-year hold

• IRR: 18.5%
• Equity multiple: 6.00×
• Total profit: $433,635
• Equity at exit: $602,262

Cash invested: $86,800 (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 07087

• Home prices YoY: 9.6%
• Rents YoY: 0.9%
• Active inventory: 228
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,722 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$297 /mo · $3,560/yr
• Insurance: −$129
• HOA: −$371
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $-272

Break-even live

Break-even rent $3,066

Max offer price $261,920

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-184	+0% $-272	+5% $-360	+10% $-448
Rent	-10% $-487	-5% $-380	+0% $-272	+5% $-165	+10% $-57
Rate	-1.0pp $-116	-0.5pp $-193	base $-272	+0.5pp $-352	+1.0pp $-434

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 32nd St Unit 412 Weehawken, NJ	1.0	1.0	683	$2,815	$4.12	9d	1	0.11mi
221 Jane St #1 Weehawken, NJ	1.0	1.0	600	$2,100	$3.50	24d	1	0.13mi
311 Park Ave Weehawken, NJ	1.0	1.0	400	$2,500	$6.25	26d	1	0.23mi
2709 Bergenline Ave Unit 3B Union City, NJ	1.0	1.0	700	$1,550	$2.21	24d	1	0.30mi
115 37th St Unit 102 Union City, NJ	1.0	1.0	600	$2,500	$4.17	7d	1	0.34mi
210 36th St Unit 3L Union City, NJ	1.0	1.0	750	$2,100	$2.80	9d	1	0.34mi
2105 New York Ave Unit Basement Union City, NJ	2.0	1.0	700	$2,100	$3.00	45d	1	0.38mi
5 Port Imperial Blvd Weehawken Township, NJ	1.0–2.0	1.0–2.0	809	$3,578	$4.42	0d	30	0.40mi
2705 Central Ave Unit 1 Union City, NJ	2.0	1.0	500	$2,300	$4.60	19d	1	0.41mi
1575 Harbor Blvd Unit 1402W Weehawken, NJ	—	1.0	527	$2,700	$5.12	26d	1	0.43mi
115 20th St Apt 1 Union City, NJ	1.0	1.0	750	$2,300	$3.07	26d	1	0.44mi
700 Harbor Blvd Unit 1001 Weehawken Township, NJ	1.0	1.0	700	$4,000	$5.71	26d	1	0.45mi
1600 Harbor Blvd Weehawken, NJ	3.0	1.0–2.0	998	$4,691	$4.70	4d	12	0.46mi
801 Harbor Blvd Unit 1013A Weehawken, NJ	—	1.0	575	$2,850	$4.96	26d	1	0.47mi
801 Harbor Blvd Unit 1512A Weehawken, NJ	1.0	1.0	720	$3,450	$4.79	26d	1	0.47mi
1810 Palisade Ave Unit 1R Union City, NJ	1.0	1.0	736	$2,600	$3.53	22d	1	0.49mi
121 41st St #1 Union City, NJ	2.0	1.0	553	$2,300	$4.16	19d	1	0.53mi
1620 Palisade Ave Unit B Union City, NJ	1.0	1.0	500	$1,800	$3.60	26d	1	0.55mi
1620 Palisade Ave #1 Union City, NJ	1.0	1.0	500	$1,950	$3.90	26d	1	0.55mi
1618 Bergenline Ave Unit 3F Union City, NJ	2.0	1.0	700	$2,250	$3.21	9d	1	0.61mi
1500 Harbor Blvd Weehawken, NJ	2.0	1.0–2.0	795	$5,134	$6.45	0d	12	0.63mi
800 Harbor Blvd Weehawken Township, NJ	2.0	1.0–2.0	927	$4,828	$5.21	4d	28	0.64mi
9 Grand St Unit 2A Weehawken, NJ	1.0	1.0	550	$2,775	$5.05	24d	1	0.66mi
1505 Harbor Blvd Unit 432 Weehawken, NJ	—	1.0	525	$3,368	$6.42	26d	1	0.67mi
1501 Harbor Blvd Unit 332 Weehawken, NJ	—	1.0	525	$2,750	$5.24	26d	1	0.67mi
1501 Harbor Blvd Unit 302 Weehawken, NJ	1.0	1.0	723	$3,500	$4.84	26d	1	0.67mi
1505 Harbor Blvd Unit 502 Weehawken, NJ	1.0	1.0	723	$3,928	$5.43	26d	1	0.67mi
1525 Harbor Blvd Weehawken Township, NJ	2.0	1.0–2.0	798	$6,110	$7.65	0d	14	0.67mi
100 Harbor Blvd Weehawken, NJ	2.0	1.0–2.0	890	$5,644	$6.34	0d	12	0.72mi
1500 Avenue At Port Imperial Weehawken, NJ	2.0	1.0–2.0	914	$3,960	$4.33	0d	20	0.73mi
2626 Grand Ave North Bergen, NJ	1.0	1.0	736	$2,522	$3.42	0d	6	0.76mi
1300 Avenue At Port Imperial Weehawken, NJ	3.0	1.0–2.0	968	$3,833	$3.96	0d	18	0.77mi
621 14th St Unit 1314944P Union City, NJ	1.0	1.0	559	$6,229	$11.13	0d	2	0.81mi
1100 Avenue At Port Imperial Weehawken, NJ	3.0	1.0–2.0	924	$4,602	$4.98	0d	19	0.82mi
1901 Kennedy Blvd North Bergen, NJ	1.0	1.0	650	$2,075	$3.19	19d	2	0.83mi
1206 Bergenline Ave Union City, NJ	1.0	1.0	500	$1,695	$3.39	12d	1	0.83mi
900 Ave At Port Imperial Blvd Weehawken, NJ	2.0	1.0–2.0	791	$4,715	$5.96	0d	25	0.88mi
4701 Park Ave Unit 2B Union City, NJ	1.0	1.0	600	$1,725	$2.88	26d	1	0.88mi
1500 Washington St Hoboken, NJ	1.0	1.0	735	$3,988	$5.43	22d	3	0.91mi
1500 Washington St Hoboken, NJ	1.0	1.0	735	$3,825	$5.20	16d	3	0.91mi

HOA detail condo

• Monthly dues: $371 · $4,452/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-03-31
   status Under Contract
2. 2025-12-05
   listed $310,000 Active 445-char remark

   Show marketing remark (445 chars)

   This beautifully renovated, bright, south-facing one bedroom condo in the Cambridge building also comes with one parking spot. Highly connected location with a quick 13 minute commute to midtown Manhattan, as well as easy access to Hoboken and Weehawken. Contemporary kitchen and bath, easy layout, and plenty of storage make this the perfect home. The building is pet friendly, has on-site laundry facilities, and low monthly maintenance costs.

3. 2025-12-05
   listed $310,000 Active

   Show marketing remark (445 chars)

   This beautifully renovated, bright, south-facing one bedroom condo in the Cambridge building also comes with one parking spot. Highly connected location with a quick 13 minute commute to midtown Manhattan, as well as easy access to Hoboken and Weehawken. Contemporary kitchen and bath, easy layout, and plenty of storage make this the perfect home. The building is pet friendly, has on-site laundry facilities, and low monthly maintenance costs.

4. 2025-10-17
   historical
5. 2025-06-06
   price $350,000
6. 2025-04-16
   listed $380,000 Active
7. 2024-03-23
   historical $2,400
8. 2024-03-08
   price $2,400
9. 2024-03-02
   listed $2,600
10. 2023-11-21
    soldstatus $310,000 Sold
11. 2023-10-12
    status Under Contract
12. 2023-09-29
    listed $289,900 Active
13. 2022-07-22
    soldstatus $279,900 Sold
14. 2022-06-17
    historical
15. 2022-05-18
    listed $279,900 Active

ⓘ 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: $3,560 · $297/mo
• Projected year-2 tax: $5,639 · $470/mo
• Expected delta: +$2,080/yr (+$173/mo · 58.4%)

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

Taxation est. · year 1

• Rental income: $32,663
• − Mortgage interest: −$17,365
• − Property taxes: −$3,560
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,613
• − Management: −$2,613
• − HOA: −$4,452
• − Depreciation: −$9,018
• Taxable loss: −$8,508
• Est. tax savings @ 24.0%: +$2,042
• After-tax cash flow: $-1,224/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: Union City School District
• NCES district ID: 3416380
• Math proficiency: 15% ▼ -19.00%
• Reading proficiency: 36% ▼ -19.00%
• Median HH income: $41,210
• Composite: 21.55/100
• National rank: #8312
• State rank: #399 of 472 in NJ

Livability — Union City

• Score: 77/100
• State rank: #117
• US rank: #2998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, NJ
• County: Hudson County · 718,323 people
• City population: 66,463
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 66,463
• Household income: $64,310
• Rent vs Own: 80.9% rent · 19.1% own
• Severe rent burden: 6042.0

Population outlook (Hudson County) Hauer SSP2

• Today (2025): 771,834 people
• By 2030: 818,028 · +6.0%
• By 2040: 907,866 · +17.6%
• By 2050: 994,480 · +28.8%
• By 2075: 1,163,301 · +50.7%
• By 2100: 1,254,703 · +62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 28% White 10% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 8% Cuban 9% Dominican 17%
• Foreign-born: 55% · Canada, Jamaica, China
• Languages at home: 18% English-only · Spanish 74% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.10%
• Current HPI: 597.8126
• Rent YoY: ▲ 0.89%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+10.8% since first listed

15 events — show timeline

• 2026-03-31 Pending — HCMLS
• 2025-12-05 Listed $310,000 NJMLS
• 2025-12-05 Listed $310,000 HCMLS
• 2025-10-17 Listing Removed — HCMLS
• 2025-06-06 Price Changed $350,000 HCMLS
• 2025-04-16 Listed $380,000 HCMLS
• 2024-03-23 Rental Removed $2,400 HCMLS
• 2024-03-08 Price Changed $2,400 HCMLS
• 2024-03-02 Listed for Rent $2,600 HCMLS
• 2023-11-21 Sold (MLS) $310,000 HCMLS
• 2023-10-12 Pending — HCMLS
• 2023-09-29 Listed $289,900 HCMLS
• 2022-07-22 Sold (MLS) $279,900 HCMLS
• 2022-06-17 Listing Removed — HCMLS
• 2022-05-18 Listed $279,900 HCMLS

Property tax history

+2.5%/yr

Latest (2021): $3,560 · +1.2% YoY. Source: county tax records.