163 Leona Stewart Ln · Hopewell, NJ 08534

$539,990

3 bd · 2.5 ba · 2,185 sqft · Townhouse · 14 Days on market

Built 2026 Good condition 1-car garage $247/sqft · 11% below area Est $605k · 11% under $352/mo HOA · 9% 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).

• ARV discount +12.3/15.0
• Cash flow +6.5/30.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• 1% rule +2.4/10.0
• Rent growth +1.9/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner’s suite with a private bathroom.

Key facts

• One car garage
• Kitchen
• Loft

Tags

• ONE CAR GARAGE
• OPEN LIVING AREA
• FAMILY ROOM
• DINING ROOM
• KITCHEN
• LOFT

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $540k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-918 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $407k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $401k (25.8% below list).
• Recommended offer: $401k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.6% in Hopewell — 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 76/100 on livability (#125 in NJ, #3,403 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D, commute F, cost of living F.
• Hopewell Valley Regional School District (suburban): math 39% / reading 66% proficiency, ranked #72 of 472 in NJ (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Bear Tavern Elementary School (math 27% / reading 57%, grade F, #422 of 1,303 statewide, top 35%, 459 students, 3% FRL); Timberlane Middle School (math 40% / reading 69%, grade B-, #68 of 431 statewide, top 16%, 780 students, 3% FRL); Hopewell Valley Central High School (math 44% / reading 71%, grade C, #67 of 399 statewide, top 17%, 1,079 students, 5% FRL) — zoned schools at 4% FRL track the district average.
• Market conditions: Rents soft (-2.2%/yr); 198 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $400,709 (25.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.74% ✗
• Cap rate: 4.25%
• Cash-on-cash: -7.29%
• DSCR: 0.68
• GRM: 11.2

CMA / ARV

• ARV (median comp): $605,024
• List price: $539,990
• Delta: -9.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Leona Stewart Blvd	0.03mi	3/2.5	2,129 (-3%)	1mo	$552,500	$260	94
150 Leona Stewart	0.03mi	3/2.5	2,185 (0%)	7mo	$570,000	$261	92
130 Leona Stewart Blvd	0.00mi	3/2.5	2,129 (-3%)	8mo	$579,990	$272	89
146 Leona Stewart Blvd	0.03mi	3/2.5	2,129 (-3%)	7mo	$585,000	$275	89
154 Leona Stewart Blvd	0.03mi	3/2.5	2,129 (-3%)	7mo	$595,000	$279	88
108 Fred Clark Dr	0.22mi	3/3.5	2,453 (+12%)	2mo	$728,890	$297	64
112 Fred Clark Dr	0.22mi	3/3.5	2,453 (+12%)	2mo	$771,090	$314	64
148 Ada Hightower Ave	0.24mi	3/3.5	2,453 (+12%)	2mo	$785,000	$320	63
106 Fred Clark	0.22mi	3/3.5	2,487 (+14%)	2mo	$736,000	$296	61
107 Fred Clark Dr	0.23mi	3/3.5	2,453 (+12%)	5mo	$728,090	$297	60
109 Fred Clark Dr	0.23mi	3/3.5	2,453 (+12%)	5mo	$709,090	$289	60
101 Fred Clark Dr	0.24mi	3/3.5	2,453 (+12%)	6mo	$765,090	$312	60

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -32.7%
• Equity multiple: -0.04×
• Total profit: $-157,445
• Equity at exit: $80,514

10-year hold

• IRR: -63.6%
• Equity multiple: -0.70×
• Total profit: $-256,658
• Equity at exit: $46,688

Cash invested: $151,197 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 9 under contract
• Months of supply: 5.4 mo (19%/mo absorbed)
• Median asking: $589,900 ($280/sqft)
• Median days on market: 79 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -1.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 08534

• Home prices YoY: -32.9%
• Rents YoY: -2.2%
• Active inventory: 198
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $4,007 high
• Mortgage (P&I): −$2,832
• Tax est. 1.5%: −$675 /mo · $8,100/yr
• Insurance: −$225
• HOA: −$352
• Vacancy / Maint / Mgmt: −$841
• Net cashflow: $-918

Break-even live

Break-even rent $5,169

Max offer price $407,132

Occupancy floor —

Sensitivity live

Price	-10% $-545	-5% $-732	+0% $-918	+5% $-1,105	+10% $-1,291
Rent	-10% $-1,235	-5% $-1,076	+0% $-918	+5% $-760	+10% $-602
Rate	-1.0pp $-646	-0.5pp $-781	base $-918	+0.5pp $-1,058	+1.0pp $-1,200

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: $134,998
• Closing costs: $16,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Stoutsburg Blvd Hopewell Township, NJ	3.0	2.5	2129	$3,800	$1.78	139d	1	0.07mi
126 Ada Hightower Ave Pennington, NJ	4.0	3.5	2453	$4,900	$2.00	139d	1	0.18mi
144 Ada Hightower Ave Pennington, NJ	4.0	3.5	2453	$4,400	$1.79	6d	1	0.21mi
148 Ada Hightower Ave Pennington, NJ	4.0	3.5	2453	$4,750	$1.94	2d	1	0.22mi
206 Concord Pl Pennington, NJ	3.0	2.5	1594	$3,250	$2.04	6d	1	0.80mi
1 Samuel Peterson Dr Ewing Township, NJ	1.0–2.0	1.0–2.0	1109	$3,915	$3.53	0d	18	1.23mi
406 Pebble Creek Ct Pennington, NJ	3.0	2.5	1908	$3,150	$1.65	6d	1	1.29mi
229 Lewis Fisher Dr Titusville, NJ	3.0	2.5	2129	$3,500	$1.64	6d	1	1.35mi
417 Timberlake Dr Unit 417 Trenton, NJ	2.0	2.0	1552	$2,395	$1.54	4d	1	1.39mi
635 Timberlake Dr Trenton, NJ	2.0	2.0	1510	$1,750	$1.16	6d	1	1.44mi

Property features AI

Finance

• Other: Address: 163 Leona Stewart Ln, Pennington, NJ 08534
• Financial info: List price $604,440

Exterior

• Parking: 1-car garage (1 parking space total)
• Home design: Single-family home
• Exterior features: Living area approximately 2,185

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: New construction Spec home (Arnold plan)

Listing history 50 events

1. 2026-09-24
   days on market $539,990 Active 14 DOM
2. 2026-09-23
   days on market $539,990 Active 13 DOM
3. 2026-09-22
   days on market $539,990 Active 12 DOM
4. 2026-09-21
   pricedays on market $539,990 Active 11 DOM
5. 2026-09-20
   days on market $549,990 Active 10 DOM
6. 2026-09-18
   days on market $549,990 Active 8 DOM
7. 2026-09-17
   days on market $549,990 Active 7 DOM
8. 2026-09-16
   days on market $549,990 Active 6 DOM
9. 2026-09-15
   days on market $549,990 Active 5 DOM
10. 2026-09-15
    price $549,990 Active 4 DOM
11. 2026-09-14
    days on market $546,440 Active 4 DOM
12. 2026-09-13
    days on market $546,440 Active 3 DOM
13. 2026-09-12
    days on market $546,440 Active 2 DOM
14. 2026-09-11
    pricedays on marketlisting id $546,440 Active 1 DOM
15. 2026-09-05
    days on market $555,940 Active 105 DOM
16. 2026-09-04
    days on market $555,940 Active 104 DOM
17. 2026-09-03
    pricedays on market $555,940 Active 103 DOM
18. 2026-08-31
    days on market $559,490 Active 100 DOM
19. 2026-08-30
    days on market $559,490 Active 99 DOM
20. 2026-08-29
    days on market $559,490 Active 98 DOM
21. 2026-08-28
    days on market $559,490 Active 97 DOM
22. 2026-08-27
    days on market $559,490 Active 96 DOM
23. 2026-08-25
    days on market $559,490 Active 94 DOM
24. 2026-08-24
    days on market $559,490 Active 93 DOM
25. 2026-08-23
    days on market $559,490 Active 92 DOM
26. 2026-08-22
    days on market $559,490 Active 91 DOM
27. 2026-08-21
    days on market $559,490 Active 90 DOM
28. 2026-08-20
    days on market $559,490 Active 89 DOM
29. 2026-08-19
    days on market $559,490 Active 88 DOM
30. 2026-08-18
    days on market $559,490 Active 87 DOM
31. 2026-08-17
    days on market $559,490 Active 86 DOM
32. 2026-08-16
    days on market $559,490 Active 85 DOM
33. 2026-08-15
    days on market $559,490 Active 84 DOM
34. 2026-08-15
    days on market $559,490 Active 83 DOM
35. 2026-08-13
    days on market $559,490 Active 82 DOM
36. 2026-08-12
    days on market $559,490 Active 81 DOM
37. 2026-08-11
    days on market $559,490 Active 80 DOM
38. 2026-08-10
    days on market $559,490 Active 79 DOM
39. 2026-08-09
    days on market $559,490 Active 78 DOM
40. 2026-08-08
    days on market $559,490 Active 77 DOM
41. 2026-08-07
    days on market $559,490 Active 76 DOM
42. 2026-08-06
    days on market $559,490 Active 75 DOM
43. 2026-08-05
    days on market $559,490 Active 74 DOM
44. 2026-08-04
    pricedays on market $559,490 Active 73 DOM
45. 2026-08-03
    pricedays on market $560,690 Active 72 DOM
46. 2026-07-31
    days on market $558,690 Active 69 DOM
47. 2026-07-29
    days on market $558,690 Active 67 DOM
48. 2026-07-27
    days on market $558,690 Active 65 DOM
49. 2026-07-25
    days on market $558,690 Active 63 DOM
50. 2026-07-23
    days on market $558,690 Active 61 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $48,085
• − Mortgage interest: −$30,248
• − Property taxes: −$8,100
• − Insurance: −$2,700
• − Repairs & maintenance: −$3,847
• − Management: −$3,847
• − HOA: −$4,224
• − Depreciation: −$15,709
• Taxable loss: −$20,589
• Est. tax savings @ 24.0%: +$4,941
• After-tax cash flow: $-6,076/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 · 22 photos

Good 80/100 None rehab

This three-story townhome is in excellent condition with modern amenities and a well-maintained exterior. It offers a great balance of comfort and style, making it an ideal investment property.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean windows — Improves natural light and aesthetics ↑
• Both Replace ceiling fans — Modernizes and improves airflow ↑
• Both Install smart home devices — Enhances convenience and energy efficiency ↑

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Bear Tavern Elementary School F NJ #422/1,303 Nat'l #17,861/41,679 Middle Timberlane Middle School B- NJ #68/431 Nat'l #2,564/14,009 High Hopewell Valley Central High School C NJ #67/399 Nat'l #4,023/17,239

Schools (NCES district)

• District: Hopewell Valley Regional School District
• NCES district ID: 3407530
• Math proficiency: 39% ▼ -25.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $126,131
• Composite: 52.03/100
• National rank: #1636
• State rank: #72 of 472 in NJ

B Composite livability gradescore 76/100

Livability — Hopewell

• Score: 76/100
• State rank: #125
• US rank: #3403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mercer County · 381,395 people
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 13,272
• Household income: $175,573
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 7% of renters

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Population outlook (Mercer County) Hauer SSP2

• Today (2025): 381,395 people
• By 2030: 384,640 · +0.9%
• By 2040: 391,431 · +2.6%
• By 2050: 397,845 · +4.3%
• By 2075: 417,281 · +9.4%
• By 2100: 420,327 · +10.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Asian 18% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 8% Italian 2% Scotch-Irish 1%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 80% English-only · Other Indo-European 6% Chinese 5% Other Asian/Pacific 3%

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Political lean MEDSL · Mercer

• 2024 margin: Solid D (+33.9) · D 65.9% · R 32.0% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 36.1pp · 2024: 33.9pp
• All cycles: 2024: D+33.9 2020: D+40.0 2016: D+36.2 2012: D+36.8 2008: D+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.16%
• Current HPI: 234.5759
• Rent YoY: ▼ -2.25%
• Metro: Trenton-Princeton, NJ
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

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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

Property features AI

Finance

• Other: Address: 163 Leona Stewart Ln, Pennington, NJ 08534
• Financial info: List price $604,440

Exterior

• Parking: 1-car garage (1 parking space total)
• Home design: Single-family home
• Exterior features: Living area approximately 2,185

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: New construction Spec home (Arnold plan)