371 E Broadway · Salem, NJ 08079

$185,000

6 bd · None ba · 3,440 sqft · SingleFamily public records · 154 Days on market

Built 1900 7,427 sqft lot Est $165k · 12% 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 +23.4/30.0
• 1% rule +7.8/10.0
• DSCR +7.5/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Schools +1.2/10.0

Listing remarks MLS

Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

Key facts

• 7,427 sq ft lot
• Built 1900
• Listed 153 days

Property features AI

Finance

• Other: Property assessed values reported (land and improvement)
• Financial info: Ownership: Fee simple; Rent-controlled property; Total actual rent reported: $22,200; Two units currently leased, one unit vacant, and one month-to-month unit

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached structure
• Construction: Frame construction; Brick/mortar foundation; Above-grade and below-grade structures
• Exterior features: Lot dimensions approximately 55 x 135 feet

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 3-bedroom unit
• Heating & cooling: Baseboard electric heating; Electric heating fuel; Natural gas hot water
• Interior features: Accessible doors 32"+ wide

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% 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: 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: 102 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,361/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 $576 of equity ($1k loan paydown + $-703 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 $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y ago; this cycle's ask has dropped $55k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $185k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $165,120
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52 Market St	0.71mi	7/2.5 (+1)	3,135 (-9%)	5mo	$150,000	$48	43
12 Oak St	0.65mi	5/2.5 (-1)	3,015 (-12%)	3mo	$121,000	$40	42

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: 5.6%
• Equity multiple: 1.26×
• Total profit: $13,357
• Equity at exit: $50,228

10-year hold

• IRR: 11.2%
• Equity multiple: 2.18×
• Total profit: $61,165
• Equity at exit: $57,657

Cash invested: $51,800 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 102
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,361 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$475 /mo · $5,694/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $343

Break-even live

Break-even rent $1,926

Max offer price $185,000

Occupancy floor 80%

Sensitivity live

Price	-10% $448	-5% $396	+0% $343	+5% $291	+10% $239
Rent	-10% $157	-5% $250	+0% $343	+5% $437	+10% $530
Rate	-1.0pp $436	-0.5pp $390	base $343	+0.5pp $295	+1.0pp $247

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-21
   days on market $185,000 Active 154 DOM
2. 2026-06-18
   days on market $185,000 Active 151 DOM
3. 2026-06-17
   days on market $185,000 Active 150 DOM
4. 2026-06-16
   days on market $185,000 Active 149 DOM
5. 2026-06-15
   days on market $185,000 Active 148 DOM
6. 2026-06-13
   days on market $185,000 Active 146 DOM
7. 2026-06-13
   pricedays on market $185,000 Active 145 DOM
8. 2026-06-10
   price $200,000 Active 142 DOM
9. 2026-06-09
   days on market $230,000 Active 142 DOM
10. 2026-06-08
    days on market $230,000 Active 141 DOM
11. 2026-06-07
    days on market $230,000 Active 140 DOM
12. 2026-06-04
    days on market $230,000 Active 137 DOM
13. 2026-06-03
    days on market $230,000 Active 136 DOM
14. 2026-06-02
    days on market $230,000 Active 135 DOM
15. 2026-06-01
    days on market $230,000 Active 134 DOM
16. 2026-05-31
    days on market $230,000 Active 133 DOM
17. 2026-05-19
    price $230,000
18. 2026-01-19
    listed $240,000 Active
19. 2026-01-13
    historical $240,000
20. 2025-01-02
    historical
21. 2024-10-22
    historical $1,650
22. 2024-08-18
    listed $1,650
23. 2024-07-21
    listed $225,000 Active
24. 2020-06-08
    soldstatus $50,000
25. 2019-07-18
    historical 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

26. 2019-06-14
    soldstatus $10,000 Closed 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

27. 2019-05-30
    status Pending 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

28. 2019-05-24
    price $10,000 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

29. 2019-05-14
    price $30,000 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

30. 2019-05-02
    price $35,000 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

31. 2019-04-05
    price $45,000 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

32. 2019-02-04
    price $50,000 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

33. 2018-10-26
    price $59,999 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

34. 2018-05-30
    price $69,999 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

35. 2018-03-12
    listed $79,999 Active 484-char remark

    Show marketing remark (484 chars)

    Investor alert! Triplex, multi-unit home located in Salem. Past tenants paid own utilities. Newer windows throughout the property. All units have electric baseboard heat, the two units upstairs have their own side entrances. The large downstairs apartment has four bedrooms and it has porch off of the kitchen which leads to a fenced in backyard. The property also features a garage along with a carport. Being Sold "As Is" CASH ONLY NOT HOLDING A NOTE NO SELLERS FINANCING!

36. 2007-11-09
    soldstatus $152,000
37. 2007-11-07
    soldstatus $152,000
38. 2006-10-16
    listed $152,000
39. 2005-01-20
    soldstatus $80,000
40. 2005-01-14
    soldstatus $80,000
41. 2004-12-15
    historical
42. 2004-08-30
    listed $80,000
43. 2000-04-27
    soldstatus $30,000
44. 2000-02-17
    listed $30,000
45. 2000-01-20
    historical
46. 1999-10-20
    listed $69,900

ⓘ 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: $5,694 · $475/mo
• Projected year-2 tax: $5,694 · $475/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $28,330
• − Mortgage interest: −$10,363
• − Property taxes: −$5,694
• − Insurance: −$925
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − Depreciation: −$5,382
• Taxable income: $1,433
• Est. tax owed @ 24.0%: −$344
• After-tax cash flow: $3,776/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

+229.0% since first listed

30 events — show timeline

• 2026-05-19 Price Changed $230,000 BRIGHT MLS
• 2026-01-19 Listed $240,000 BRIGHT MLS
• 2026-01-13 Coming Soon $240,000 BRIGHT MLS
• 2025-01-02 Listing Removed — BRIGHT MLS
• 2024-10-22 Rental Removed $1,650 BRIGHTMLS
• 2024-08-18 Listed for Rent $1,650 BRIGHTMLS
• 2024-07-21 Listed $225,000 BRIGHT MLS
• 2020-06-08 Sold (Public Records) $50,000 Public Records
• 2019-07-18 Listing Removed — BRIGHT MLS
• 2019-06-14 Sold (MLS) $10,000 BRIGHT MLS
• 2019-05-30 Pending — BRIGHT MLS
• 2019-05-24 Price Changed $10,000 BRIGHT MLS
• 2019-05-14 Price Changed $30,000 BRIGHT MLS
• 2019-05-02 Price Changed $35,000 BRIGHT MLS
• 2019-04-05 Price Changed $45,000 BRIGHT MLS
• 2019-02-04 Price Changed $50,000 BRIGHT MLS
• 2018-10-26 Price Changed $59,999 BRIGHT MLS
• 2018-05-30 Price Changed $69,999 BRIGHT MLS
• 2018-03-12 Listed $79,999 BRIGHT MLS
• 2007-11-09 Sold (Public Records) $152,000 Public Records
• 2007-11-07 Sold (MLS) $152,000 BRIGHT MLS
• 2006-10-16 Listed $152,000 BRIGHT MLS
• 2005-01-20 Sold (Public Records) $80,000 Public Records
• 2005-01-14 Sold (MLS) $80,000 BRIGHT MLS
• 2004-12-15 Listing Removed — BRIGHT MLS
• 2004-08-30 Listed $80,000 BRIGHT MLS
• 2000-04-27 Sold (MLS) $30,000 BRIGHT MLS
• 2000-02-17 Listed $30,000 BRIGHT MLS
• 2000-01-20 Listing Removed — BRIGHT MLS
• 1999-10-20 Listed $69,900 BRIGHT MLS

Property tax history

+0.7%/yr

Latest (2025): $5,694 · +4.9% YoY. Source: county tax records.