64 Union St · Salem, NJ 08079

$119,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 58 Days on market

Built 1900 2,627 sqft lot Est $95k · 25% 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 +24.3/30.0
• DSCR +7.8/10.0
• 1% rule +6.9/10.0
• 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
• ARV discount +0.0/15.0

Listing remarks MLS

Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

Key facts

• 2,627 sq ft lot
• Built 1900
• Listed 58 days

Property features AI

Finance

• Other: Not in a federal flood zone; Building not winterized

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Fee simple ownership
• Construction: Above-grade and below-grade structures
• Exterior features: Partial rear fencing; Lot approximately 18 x 146

Interior

• Bedrooms: 1 bedroom on the main level; 1 bedroom on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Baseboard electric heating; Electric hot water
• Interior features: 5 total rooms; Unfinished basement; Two or more access/exit points

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.

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: amenities F, commute F, employment 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.
• Zoned schools: John Fenwick Academy (411 students, 77% FRL); Salem Middle School (math 2% / reading 21%, grade F, #423 of 431 statewide, top 98%, 487 students, 79% FRL); Salem High School (math 17% / reading 37%, grade F, #312 of 399 statewide, top 79%, 420 students, 52% FRL) — zoned schools average 69% FRL vs 85% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 102 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $371 of equity ($823 loan paydown + $-452 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 $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $38k; list at $119k implies a 213% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; 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 $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.19% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.63%
• DSCR: 1.38
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $95,160
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Olive St	0.13mi	2/1.0	884 (+13%)	4mo	$105,000	$119	68
105 Hubbell Ave	0.61mi	2/1.0	862 (+10%)	19mo	$105,000	$122	39

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: 3.6%
• Equity multiple: 1.17×
• Total profit: $5,524
• Equity at exit: $32,309

10-year hold

• IRR: 9.4%
• Equity multiple: 1.98×
• Total profit: $32,654
• Equity at exit: $37,088

Cash invested: $33,320 (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: 102
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,411 high
• Mortgage (P&I): −$624
• Tax from tax record: −$201 /mo · $2,416/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $173

Break-even live

Break-even rent $1,192

Max offer price $119,000

Occupancy floor 83%

Sensitivity live

Price	-10% $240	-5% $207	+0% $173	+5% $139	+10% $106
Rent	-10% $62	-5% $117	+0% $173	+5% $229	+10% $284
Rate	-1.0pp $233	-0.5pp $203	base $173	+0.5pp $142	+1.0pp $111

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Union St Salem, NJ	1.0	1.0	700	$1,050	$1.50	0d	1	0.08mi
56 Olive St Salem, NJ	2.0	1.0	700	$1,200	$1.71	0d	1	0.09mi
218 Sinnickson St Salem, NJ	2.0	1.0	1008	$1,500	$1.49	0d	1	0.22mi
26 Walnut St Unit A Salem, NJ	2.0	1.0	1000	$1,225	$1.23	0d	1	0.34mi
1 9th St Salem, NJ	2.0	1.0	900	$1,450	$1.61	0d	1	0.34mi
124 Yorke St Unit 2BR Salem, NJ	2.0	1.0	750	$1,400	$1.87	11d	1	0.50mi
115 W Broadway Unit 3 Salem, NJ	1.0	1.0	1000	$1,250	$1.25	0d	1	0.62mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	0d	1	0.75mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	5d	1	0.79mi

Listing history 25 events

1. 2026-06-21
   days on market $119,000 Active 58 DOM
2. 2026-06-18
   days on market $119,000 Active 55 DOM
3. 2026-06-17
   days on market $119,000 Active 54 DOM
4. 2026-06-16
   days on market $119,000 Active 53 DOM
5. 2026-06-15
   days on market $119,000 Active 52 DOM
6. 2026-06-13
   days on market $119,000 Active 50 DOM
7. 2026-06-13
   days on market $119,000 Active 49 DOM
8. 2026-06-09
   days on market $119,000 Active 46 DOM
9. 2026-06-08
   days on market $119,000 Active 45 DOM
10. 2026-06-07
    days on market $119,000 Active 44 DOM
11. 2026-06-04
    days on market $119,000 Active 41 DOM
12. 2026-06-03
    days on market $119,000 Active 40 DOM
13. 2026-06-02
    days on market $119,000 Active 39 DOM
14. 2026-06-01
    days on market $119,000 Active 38 DOM
15. 2026-05-31
    days on market $119,000 Active 37 DOM
16. 2026-04-25
    listed $119,000 Active
17. 2026-04-21
    historical $119,000
18. 2023-01-27
    soldstatus $38,000 Closed 910-char remark

    Show marketing remark (910 chars)

    Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

19. 2022-12-30
    historical 910-char remark

    Show marketing remark (910 chars)

    Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

20. 2022-12-22
    price $50,000 910-char remark

    Show marketing remark (910 chars)

    Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

21. 2022-09-09
    status Active 910-char remark

    Show marketing remark (910 chars)

    Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

22. 2022-07-21
    status Pending 910-char remark

    Show marketing remark (910 chars)

    Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

23. 2022-07-07
    listed $55,000 Active 910-char remark

    Show marketing remark (910 chars)

    Come see this refreshed 2 bed, 1 bath home! If you are looking for an affordable option, this is your solution! As you enter into the living room, you'll see newer carpets, for a cozy feeling. The whole house was recently painted. As you continue back, you'll come across a 1st floor bedroom. Keep going and you get to the large, eat-in kitchen. The kitchen has newer laminate flooring. There is also a full bath n the first floor. This home is perfect if you were interested in a rancher. Upstairs, you have another bedroom that also has newer carpet. There is a partial basement for added storage. The back yard is plenty big enough for entertaining, pets, sports. .. whatever you wish! The property is located near highways, schools and amenities. Come see this home before it's too late! House is being sold as-is, where-is, but don't let that fool you! Buyer is responsible for CO/smoke cert, if required.

24. 2021-01-04
    listed $17,000
25. 2020-12-29
    soldstatus $7,000

ⓘ 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: $2,416 · $201/mo
• Projected year-2 tax: $2,689 · $224/mo
• Expected delta: +$274/yr (+$23/mo · 11.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 89% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,928
• − Mortgage interest: −$6,666
• − Property taxes: −$2,416
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$3,462
• Taxable income: $284
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $2,008/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

+1600.0% since first listed

10 events — show timeline

• 2026-04-25 Listed $119,000 BRIGHT MLS
• 2026-04-21 Coming Soon $119,000 BRIGHT MLS
• 2023-01-27 Sold (MLS) $38,000 BRIGHT MLS
• 2022-12-30 Listing Removed — BRIGHT MLS
• 2022-12-22 Price Changed $50,000 BRIGHT MLS
• 2022-09-09 Relisted — BRIGHT MLS
• 2022-07-21 Pending — BRIGHT MLS
• 2022-07-07 Listed $55,000 BRIGHT MLS
• 2021-01-04 Listed $17,000 BRIGHT MLS
• 2020-12-29 Sold (MLS) $7,000 BRIGHT MLS

Property tax history

+4.1%/yr

Latest (2025): $2,416 · +4.9% YoY. Source: county tax records.