11 Mercer St · Paterson, NJ 07524

$480,000

4 bd · 3.0 ba · 1,224 sqft · SingleFamily public records · 136 Days on market

1,873 sqft lot

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Why this score? — see what drove the F 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 +8.9/10.0
• ARV discount +7.5/15.0
• Cash flow +4.6/30.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Great opportunity for investors or first time buyers. This conveniently located 4 bedroom, 3 bath home features a finished basement and 1 parking spot. Close to shopping, transportation and local amenities. Property sold as is, no repairs or credits. Equipped with solar panels offering potential energy savings. Best and Highest due Tuesday 2/24 5pm.

Key facts

• Finished basement
• Solar panels
• 1,873 sq ft lot

Tags

• FINISHED BASEMENT
• SOLAR PANELS

Property features AI

Finance

• Other: Listing is residential income (investment) property
• Financial info: Annual tax amount reported
• HOA & community: Not specified

Exterior

• Parking: Not specified
• Security: Not specified
• Utilities: Utilities: See remarks
• Home design: Multifamily residence
• Construction: Not specified
• Exterior features: Residential income property

Interior

• Kitchen: Details not provided
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 3 full bathrooms
• Heating & cooling: Not specified
• Interior features: 10 total rooms
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $480k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (44.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (47.8% below list).
• Recommended offer: $250k (47.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#293 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: schools D, employment D, crime F.
• Paterson Public School District (suburban): math 6% / reading 26% proficiency, ranked #458 of 472 in NJ (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 11 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 860 units permitted in Passaic County in 2024 (614 in 5+ unit buildings).
• At $2,504/mo this rent would consume 61% of the median local household income ($49k/yr) (locally 1287% 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 $40k of equity ($3k loan paydown + $37k appreciation (7.7% local appreciation)).
• Passaic County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $248k; list at $480k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $250,446 (47.8% 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 136 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.52% ✗
• Cap rate: 3.25%
• Cash-on-cash: -10.86%
• DSCR: 0.52
• GRM: 16.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.83×
• Total profit: $111,334
• Equity at exit: $355,194

10-year hold

• IRR: 11.9%
• Equity multiple: 3.83×
• Total profit: $380,326
• Equity at exit: $696,208

Cash invested: $134,400 (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 07524

• Home prices YoY: 2.1%
• Active inventory: 11
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$477 /mo · $5,730/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-1,216

Break-even live

Break-even rent $4,044

Max offer price $265,167

Occupancy floor —

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: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Lyon St Unit 2 Paterson, NJ	3.0	1.0	1500	$2,060	$1.37	24d	1	0.01mi
85 Holsman St Paterson, NJ	3.0	1.0	950	$1,775	$1.87	24d	1	0.46mi
393 Madison Ave Unit 1 Paterson, NJ	3.0	1.0	1000	$2,200	$2.20	21d	1	0.49mi
116 N 1st St Unit 2 Paterson, NJ	3.0	2.0	1000	$2,200	$2.20	24d	1	0.51mi
290 Governor St Paterson, NJ	3.0	3.0	1100	$2,800	$2.55	24d	1	0.53mi
517 E 18th St Paterson, NJ	3.0	1.0	850	$1,800	$2.12	24d	1	0.55mi
171 Godwin Ave Unit 3 Paterson, NJ	3.0	1.0	950	$1,750	$1.84	18d	1	0.57mi
209 N 4th St Unit 1st Floor Paterson, NJ	3.0	1.0	800	$2,350	$2.94	24d	1	0.59mi
209 N 4th St Paterson, NJ	3.0	1.0	800	$2,350	$2.94	1d	1	0.59mi
225 E 19th St Unit 2 Paterson, NJ	3.0	1.0	1200	$2,900	$2.42	24d	1	0.59mi
200 Godwin Ave Paterson, NJ	3.0	1.0	1500	$2,400	$1.60	24d	1	0.62mi
307 N 7th St Unit 2 Prospect Park, NJ	4.0	2.0	1380	$3,600	$2.61	1d	1	0.66mi
132 N 3rd St Paterson, NJ	1.0–3.0	1.0	700	$2,200	$3.14	13d	2	0.68mi
85 Jefferson St Unit 2 Paterson, NJ	3.0	1.5	1000	$2,250	$2.25	5d	1	0.69mi
550 E 25th St Unit 2 Paterson, NJ	4.0	2.0	1000	$3,300	$3.30	5d	1	0.80mi
145 E 31st St Paterson, NJ	3.0	1.0	906	$2,300	$2.54	4d	1	1.06mi
36 W Prospect St Unit 1 Hawthorne, NJ	3.0	1.5	1100	$2,750	$2.50	24d	1	1.16mi
265 Fairview Ave Prospect Park, NJ	3.0	1.0	1488	$2,900	$1.95	1d	1	1.20mi
393 Straight St Apt 2 Paterson, NJ	3.0	1.0	1000	$2,100	$2.10	24d	1	1.30mi

Listing history 25 events

1. 2026-06-18
   days on market $480,000 Active 136 DOM
2. 2026-06-17
   pricestatusdays on market $480,000 Active 135 DOM
3. 2026-06-16
   days on market $399,000 Active Under Contract 134 DOM
4. 2026-06-15
   days on market $399,000 Active Under Contract 133 DOM
5. 2026-06-13
   days on market $399,000 Active Under Contract 131 DOM
6. 2026-06-13
   days on market $399,000 Active Under Contract 130 DOM
7. 2026-06-09
   days on market $399,000 Active Under Contract 127 DOM
8. 2026-06-08
   days on market $399,000 Active Under Contract 126 DOM
9. 2026-06-07
   days on market $399,000 Active Under Contract 125 DOM
10. 2026-06-04
    days on market $399,000 Active Under Contract 122 DOM
11. 2026-06-03
    days on market $399,000 Active Under Contract 121 DOM
12. 2026-06-02
    days on market $399,000 Active Under Contract 120 DOM
13. 2026-06-01
    days on market $399,000 Active Under Contract 119 DOM
14. 2026-05-31
    days on market $399,000 Active Under Contract 118 DOM
15. 2026-03-09
    status Under Contract 356-char remark

    Show marketing remark (356 chars)

    Great opportunity for investors or first time buyers. This conveniently located 4 bedroom, 3 bath home features a finished basement and 1 parking spot. Close to shopping, transportation and local amenities. Property sold as is, no repairs or credits. Equipped with solar panels offering potential energy savings. Best and Highest due Tuesday 2/24 5pm.

16. 2026-02-11
    price $399,000 356-char remark

    Show marketing remark (356 chars)

    Great opportunity for investors or first time buyers. This conveniently located 4 bedroom, 3 bath home features a finished basement and 1 parking spot. Close to shopping, transportation and local amenities. Property sold as is, no repairs or credits. Equipped with solar panels offering potential energy savings. Best and Highest due Tuesday 2/24 5pm.

17. 2026-02-11
    price $399,000

    Show marketing remark (356 chars)

    Great opportunity for investors or first time buyers. This conveniently located 4 bedroom, 3 bath home features a finished basement and 1 parking spot. Close to shopping, transportation and local amenities. Property sold as is, no repairs or credits. Equipped with solar panels offering potential energy savings. Best and Highest due Tuesday 2/24 5pm.

18. 2026-02-03
    listed $480,000 Active
19. 2026-02-01
    listed $480,000 Active 356-char remark

    Show marketing remark (356 chars)

    Great opportunity for investors or first time buyers. This conveniently located 4 bedroom, 3 bath home features a finished basement and 1 parking spot. Close to shopping, transportation and local amenities. Property sold as is, no repairs or credits. Equipped with solar panels offering potential energy savings. Best and Highest due Tuesday 2/24 5pm.

20. 2007-08-29
    soldstatus $248,000
21. 2004-10-14
    soldstatus $150,000
22. 2004-07-21
    soldstatus $170,000
23. 2002-05-31
    soldstatus $130,000
24. 2002-04-25
    soldstatus $75,900
25. 1999-05-03
    soldstatus $116,000

ⓘ 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: $5,730 · $477/mo
• Projected year-2 tax: $8,841 · $737/mo
• Expected delta: +$3,111/yr (+$259/mo · 54.3%)

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

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 ≥100°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,054
• − Mortgage interest: −$26,887
• − Property taxes: −$5,730
• − Insurance: −$2,400
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − Depreciation: −$13,964
• Taxable loss: −$23,736
• Est. tax savings @ 24.0%: +$5,697
• After-tax cash flow: $-8,897/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: Paterson Public School District
• NCES district ID: 3412690
• Math proficiency: 6% ▼ -12.00%
• Reading proficiency: 26% ▼ -4.00%
• Median HH income: $34,365
• Composite: 13.02/100
• National rank: #9568
• State rank: #458 of 472 in NJ

Livability — Paterson

• Score: 69/100
• State rank: #293
• US rank: #8763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paterson, NJ
• County: Passaic County · 360,294 people
• City population: 85,452
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 13,808
• Household income: $49,103
• Rent vs Own: 80.6% rent · 19.4% own
• Severe rent burden: 1287.0

Population outlook (Passaic County) Hauer SSP2

• Today (2025): 525,915 people
• By 2030: 532,160 · +1.2%
• By 2040: 543,670 · +3.4%
• By 2050: 554,326 · +5.4%
• By 2075: 584,728 · +11.2%
• By 2100: 598,978 · +13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 40% Black 26% White 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Dominican 35%
• Foreign-born: 46% · Canada, Jamaica, Guatemala
• Languages at home: 31% English-only · Spanish 69% Other Indo-European 1%

Political lean MEDSL · Passaic

• 2024 margin: Toss-up / Even · D 46.9% · R 49.8% · Other 3.3%
• 2008→2024 swing: -24.6pp toward R · 2008: 21.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+16.5 2016: D+21.8 2012: D+27.3 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.71%
• Current HPI: 374.7398
• Rent YoY: —
• 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

+244.0% since first listed

11 events — show timeline

• 2026-03-09 Pending — GSMLS
• 2026-02-11 Price Changed $399,000 GSMLS
• 2026-02-11 Price Changed $399,000 NJMLS
• 2026-02-03 Listed $480,000 NJMLS
• 2026-02-01 Listed $480,000 GSMLS
• 2007-08-29 Sold (Public Records) $248,000 Public Records
• 2004-10-14 Sold (Public Records) $150,000 Public Records
• 2004-07-21 Sold (Public Records) $170,000 Public Records
• 2002-05-31 Sold (Public Records) $130,000 Public Records
• 2002-04-25 Sold (Public Records) $75,900 Public Records
• 1999-05-03 Sold (Public Records) $116,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $5,730 · +4.7% YoY. Source: county tax records.