100 Luttgen Pl Unit A2 · Linden, NJ 07036-2838

$270,000

2 bd · 1.0 ba · 810 sqft · Condo public records · 46 Days on market

Built 1998 $352/mo HOA · 14% of rent

---

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).

• Cash flow +9.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• 1% rule +4.5/10.0
• Livability +3.4/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Bright and comfortable 2-bedroom, 1-bath garden-style condo offering the perfect blend of space, convenience, and location in the heart of Linden. Step inside to find a welcoming layout featuring a spacious living room, a separate dining room and an eat-in kitchen with room for casual meals and everyday living. Both bedrooms offer comfortable proportions while the full bathroom is centrally located for convenience. This well-maintained garden apartment also includes laundry facilities in the building, making day-to-day living easy and efficient. You'll appreciate the added benefit of an assigned parking space, providing stress-free parking year-round. Ideally situated just minutes from down

Key facts

• Laundry facilities
• Garden style condo
• Separate dining room

Tags

• GARDEN STYLE CONDO
• SEPARATE DINING ROOM
• EAT IN KITCHEN
• LAUNDRY FACILITIES
• ASSIGNED PARKING SPACE
• COMMUTER FRIENDLY LOCATION

Property features AI

Finance

• HOA & community: Monthly association fee ($352); Association fee includes exterior and common area maintenance, water, sewer, and snow removal

Exterior

• Parking: Assigned off-street parking in an exclusive parking lot (1 space)
• Utilities: Electric service; Water provided by association; Sewer provided by association
• Home design: One-floor unit; Approximate year built (not specified)
• Construction: Brick construction; Flat roof
• Exterior features: Curbs and sidewalks; Brick exterior; Flat roof

Interior

• Kitchen: Electric range/oven; Refrigerator
• Bedrooms: Two bedrooms on the first floor (12x10 and 11x11)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom with tub/shower
• Heating & cooling: Electric radiant heat; Wall A/C unit(s)
• Interior features: Eat-in kitchen; Tub/shower in bathroom; Community living
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-213 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (5.0% below list).
• Recommended offer: $232k (13.9% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 2.5% in Linden — 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 67/100 on livability (#324 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: schools D, amenities F, commute F.
• Linden Public School District (suburban): math 12% / reading 39% proficiency, ranked #378 of 472 in NJ (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,749 units permitted in Union County in 2024 (1,421 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Union County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $270k implies a 170% 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 $232,447 (13.9% 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 46 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 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: 0.95% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.37%
• DSCR: 0.85
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.25×
• Total profit: $19,254
• Equity at exit: $121,404

10-year hold

• IRR: 7.7%
• Equity multiple: 2.16×
• Total profit: $87,926
• Equity at exit: $187,098

Cash invested: $75,600 (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 07036-2838

• Active inventory: 1
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$358 /mo · $4,297/yr
• Insurance: −$112
• HOA: −$352
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-213

Break-even live

Break-even rent $2,834

Max offer price $232,447

Occupancy floor —

Sensitivity live

Price	-10% $-60	-5% $-136	+0% $-213	+5% $-289	+10% $-365
Rent	-10% $-415	-5% $-314	+0% $-213	+5% $-111	+10% $-10
Rate	-1.0pp $-77	-0.5pp $-144	base $-213	+0.5pp $-283	+1.0pp $-354

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 W Price St Linden, NJ	1.0	1.0	1095	$2,150	$1.96	2d	1	0.26mi
27 W Elizabeth Ave Linden, NJ	1.0–2.0	1.0–2.0	1015	$3,902	$3.84	24d	1	0.32mi
565 E Elm St Unit 1 Linden, NJ	2.0	1.0	975	$2,400	$2.46	11d	1	0.34mi
307 W Elizabeth Ave Linden, NJ	2.0	1.0–2.0	921	$3,035	$3.30	0d	13	0.40mi
103 S Wood Ave Linden, NJ	1.0–2.0	1.0	679	$2,390	$3.52	0d	14	0.43mi
100 S Wood Ave Linden, NJ	1.0	1.0	595	$2,350	$3.95	6d	9	0.44mi
1001 W Elizabeth Ave Linden, NJ	1.0–2.0	1.0–2.0	655	$2,850	$4.35	3d	19	0.68mi
138 Union Ave Linden, NJ	2.0	1.0	1100	$2,200	$2.00	25d	1	0.71mi
343 Academy Ter Linden, NJ	1.0	1.0	620	$2,149	$3.47	25d	1	0.79mi
1120 E Saint Georges Ave Apt 425 Linden, NJ	1.0	1.0	840	$2,352	$2.80	0d	1	0.82mi
1120 E Saint Georges Ave Apt 222 Linden, NJ	1.0	1.0	874	$2,300	$2.63	19d	1	0.82mi
1140 E Saint Georges Ave Unit 306 Linden, NJ	1.0	1.0	756	$2,258	$2.99	25d	1	0.87mi
1116 N Stiles St Linden, NJ	1.0–2.0	1.0	600	$2,355	$3.92	2d	4	1.02mi
417 Raritan Rd Roselle, NJ	2.0	2.0	1073	$2,672	$2.49	0d	2	1.08mi
1201 N Wood Ave Roselle, NJ	1.0–2.0	1.0	633	$2,055	$3.25	3d	6	1.10mi
632 Cora Pl Unit 2 Rahway, NJ	2.0	1.0	750	$2,200	$2.93	2d	1	1.23mi
905 Ross St Rahway, NJ	1.0–2.0	1.0	925	$2,400	$2.59	25d	4	1.30mi

HOA detail condo

• Monthly dues: $352 · $4,224/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $270,000 Active 46 DOM
2. 2026-06-17
   days on market $270,000 Active 45 DOM
3. 2026-06-16
   days on market $270,000 Active 44 DOM
4. 2026-06-15
   days on market $270,000 Active 43 DOM
5. 2026-06-13
   days on market $270,000 Active 41 DOM
6. 2026-06-09
   days on market $270,000 Active 37 DOM
7. 2026-06-08
   days on market $270,000 Active 36 DOM
8. 2026-06-07
   days on market $270,000 Active 35 DOM
9. 2026-06-04
   days on market $270,000 Active 32 DOM
10. 2026-06-03
    days on market $270,000 Active 31 DOM
11. 2026-06-02
    days on market $270,000 Active 30 DOM
12. 2026-06-01
    days on market $270,000 Active 29 DOM
13. 2026-05-31
    days on market $270,000 Active 28 DOM
14. 2026-05-13
    status Active
15. 2026-03-21
    status Under Contract
16. 2026-03-12
    listed $285,000 Active
17. 2003-04-10
    soldstatus $100,000

ⓘ 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: $4,297 · $358/mo
• Projected year-2 tax: $5,510 · $459/mo
• Expected delta: +$1,213/yr (+$101/mo · 28.2%)

ⓘ 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 8/10 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 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,773
• − Mortgage interest: −$15,124
• − Property taxes: −$4,297
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,462
• − Management: −$2,462
• − HOA: −$4,224
• − Depreciation: −$7,855
• Taxable loss: −$7,000
• Est. tax savings @ 24.0%: +$1,680
• After-tax cash flow: $-871/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: Linden Public School District
• NCES district ID: 3408610
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $61,302
• Composite: 23.44/100
• National rank: #7886
• State rank: #378 of 472 in NJ

Livability — Linden

• Score: 67/100
• State rank: #324
• US rank: #10173

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Linden, NJ

Population outlook (Union County) Hauer SSP2

• Today (2025): 596,450 people
• By 2030: 616,880 · +3.4%
• By 2040: 658,185 · +10.4%
• By 2050: 696,707 · +16.8%
• By 2075: 785,448 · +31.7%
• By 2100: 836,583 · +40.3%

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

+185.0% since first listed

4 events — show timeline

• 2026-05-13 Relisted — GSMLS
• 2026-03-21 Pending — GSMLS
• 2026-03-12 Listed $285,000 GSMLS
• 2003-04-10 Sold (Public Records) $100,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $4,297 · +4.5% YoY. Source: county tax records.