25 Florida Grove Rd #2 · Keasbey, NJ 08832-1108

$590,000

4 bd · 3.0 ba · 2,084 sqft · MultiFamily · 16 Days on market

Built 1935 Good condition 5,227 sqft lot $283/sqft · 14% below area Est $688k · 14% 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 +14.7/30.0
• ARV discount +13.9/15.0
• Appreciation +5.0/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Two-family property being sold as-is. Each unit offers 2 bedrooms and 1 full bath. Finish basement with a full bathroom, playroom and extra space. Property includes driveway, garage, and fenced backyard with gazebo and shed.Property is delivery vacant, Second floor current vacant. Use supra for showings. Separate utilities. Great opportunity for investors or owner-occupants. HIGHEST AND BEST BY TUESDAY AT 1PM.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1935

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $590k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive. Per door: $78/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $536k (9.2% below list).
• Recommended offer: $536k (9.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Woodbridge Township School District (suburban): math 28% / reading 46% proficiency, ranked #234 of 472 in NJ (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,971 units permitted in Middlesex County in 2024 (1,193 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• Middlesex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $165k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($581k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $535,800 (9.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.91% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $688,396
• List price: $590,000
• Delta: -14.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130-132 Judy Dr	0.11mi	4/3.0	2,160 (+4%)	7mo	$680,000	$315	83
578 Sayre Ave	0.53mi	4/2.0	1,872 (-10%)	1mo	$690,000	$369	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.49×
• Total profit: $81,057
• Equity at exit: $265,290

10-year hold

• IRR: 11.1%
• Equity multiple: 2.66×
• Total profit: $274,880
• Equity at exit: $408,843

Cash invested: $165,200 (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 08832-1108

• Active inventory: 1
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $5,358 high
• Mortgage (P&I): −$3,094
• Tax est. 1.5%: −$738 /mo · $8,850/yr
• Insurance: −$246
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,125
• Net cashflow: $155

Break-even live

Break-even rent $5,161

Max offer price $590,000

Occupancy floor 92%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$5,358
Total (2 units)			$5,358

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: $147,500
• Closing costs: $17,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Emmett Ave Perth Amboy, NJ	3.0	2.0	1800	$2,900	$1.61	43d	1	0.55mi
556 Amboy Ave Perth Amboy, NJ	3.0	1.5	1554	$3,000	$1.93	24d	1	1.00mi
273 Oak St Fl 2 Perth Amboy, NJ	4.0	1.0	1680	$3,000	$1.79	13d	1	1.06mi
198 New Brunswick Ave Unit 2 Perth Amboy, NJ	3.0	1.0	2026	$3,000	$1.48	24d	1	1.35mi

Listing history 3 events

1. 2026-05-11
   status Under Contract 414-char remark

   Show marketing remark (414 chars)

   Two-family property being sold as-is. Each unit offers 2 bedrooms and 1 full bath. Finish basement with a full bathroom, playroom and extra space. Property includes driveway, garage, and fenced backyard with gazebo and shed.Property is delivery vacant, Second floor current vacant. Use supra for showings. Separate utilities. Great opportunity for investors or owner-occupants. HIGHEST AND BEST BY TUESDAY AT 1PM.

2. 2026-04-25
   listed $590,000 Active 414-char remark

   Show marketing remark (414 chars)

   Two-family property being sold as-is. Each unit offers 2 bedrooms and 1 full bath. Finish basement with a full bathroom, playroom and extra space. Property includes driveway, garage, and fenced backyard with gazebo and shed.Property is delivery vacant, Second floor current vacant. Use supra for showings. Separate utilities. Great opportunity for investors or owner-occupants. HIGHEST AND BEST BY TUESDAY AT 1PM.

3. 2026-04-20
   historical $590,000 414-char remark

   Show marketing remark (414 chars)

   Two-family property being sold as-is. Each unit offers 2 bedrooms and 1 full bath. Finish basement with a full bathroom, playroom and extra space. Property includes driveway, garage, and fenced backyard with gazebo and shed.Property is delivery vacant, Second floor current vacant. Use supra for showings. Separate utilities. Great opportunity for investors or owner-occupants. HIGHEST AND BEST BY TUESDAY AT 1PM.

ⓘ 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 7/10 Severe 7 d/yr ≥99°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,296
• − Mortgage interest: −$33,049
• − Property taxes: −$8,850
• − Insurance: −$2,950
• − Repairs & maintenance: −$5,144
• − Management: −$5,144
• − Depreciation: −$17,164
• Taxable loss: −$8,004
• Est. tax savings @ 24.0%: +$1,921
• After-tax cash flow: $3,787/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 · 13 photos

Good 75/100 Cosmetic rehab

This two-family home is in good condition with cosmetic updates needed. The property is move-in ready with a good layout and potential for rental or resale value enhancement.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both update window treatments — improves aesthetic and energy efficiency
• Both install modern lighting fixtures — enhances interior aesthetics and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both update window treatments — improves aesthetic and energy efficiency ↑
• Both install modern lighting fixtures — enhances interior aesthetics and energy efficiency ↑

ⓘ 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: Woodbridge Township School District
• NCES district ID: 3418120
• Math proficiency: 28% ▼ -14.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $79,382
• Composite: 34.75/100
• National rank: #5131
• State rank: #234 of 472 in NJ

Livability — Keasbey

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Keasbey, NJ

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 901,713 people
• By 2030: 930,661 · +3.2%
• By 2040: 986,276 · +9.4%
• By 2050: 1,038,920 · +15.2%
• By 2075: 1,159,418 · +28.6%
• By 2100: 1,221,973 · +35.5%

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

+0.0% since first listed

3 events — show timeline

• 2026-05-11 Pending — GSMLS
• 2026-04-25 Listed $590,000 GSMLS
• 2026-04-20 Coming Soon $590,000 GSMLS