302 Cleveland Ave · Trenton, NJ 08629

$225,000

4 bd · 2.0 ba · 1,295 sqft · Townhouse public records · 4 Days on market

Built 1924 1,890 sqft lot Est $249k · 10% under

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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 +23.2/30.0
• ARV discount +11.8/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

More photos coming soon!

Key facts

• Built 1924
• Listed 4 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Semi-detached property; Fee simple ownership
• Construction: Brick construction; Block foundation; Above-grade and below-grade structures
• Exterior features: Lot dimensions approximately 18.9 x 100 ft; No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the second upper level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Radiator heating; Natural gas heating and hot water
• Interior features: Has one fireplace; Full finished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Cap rate 8.5% vs local median 6.3% in Trenton — 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 (#133 in NJ, #3,533 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools F, crime F, employment F.
• Trenton Public School District (urban): math 2% / reading 16% proficiency, ranked #471 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $66k; list at $225k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $225,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $248,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Cleveland Ave	0.04mi	4/1.0	1,391 (+7%)	2mo	$233,000	$168	80
277 Norway Ave	0.37mi	3/1.5 (-1)	1,240 (-4%)	0mo	$330,000	$266	68
55 S Olden Ave	0.30mi	3/2.0 (-1)	1,410 (+9%)	0mo	$265,000	$188	66
233 Park Ln	0.47mi	3/2.0 (-1)	1,376 (+6%)	1mo	$299,000	$217	62
541 Emmett Ave	0.51mi	4/1.5	1,204 (-7%)	1mo	$275,000	$228	61
2102 Liberty St	0.54mi	3/2.0 (-1)	1,201 (-7%)	3mo	$252,000	$210	55
1109 Nottingham Way	0.64mi	3/1.0 (-1)	1,198 (-8%)	2mo	$230,000	$192	47
202 Commonwealth Ave	0.69mi	4/2.0	1,456 (+12%)	1mo	$275,000	$189	46
503 Tyler St	0.75mi	4/1.0	1,172 (-10%)	2mo	$235,000	$201	44
108 Chambers St	0.69mi	4/2.0	1,488 (+15%)	2mo	$200,000	$134	41
106 Chambers St	0.69mi	4/2.0	1,488 (+15%)	3mo	$200,000	$134	40
1267 Nottingham Way	0.68mi	4/1.0	1,102 (-15%)	3mo	$202,000	$183	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-10,569
• Equity at exit: $33,548

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $24,168
• Equity at exit: $19,454

Cash invested: $63,000 (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 08629

• Active inventory: 25
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,432 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$241 /mo · $2,892/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $406

Break-even live

Break-even rent $1,917

Max offer price $225,000

Occupancy floor 78%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	21d	1	0.17mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	13d	1	0.20mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	13d	1	0.28mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	21d	1	0.31mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	13d	1	0.35mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	0.41mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	0.60mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	21d	1	0.60mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.63mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	21d	1	0.66mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	13d	1	0.70mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	13d	1	0.79mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	13d	1	0.79mi
210 Kuser Rd Trenton, NJ	3.0	1.5	1360	$2,700	$1.99	21d	1	0.92mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	13d	1	0.93mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	0.97mi
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	13d	1	1.19mi
234 Howell St Trenton, NJ	3.0	3.0	1656	$3,600	$2.17	21d	1	1.25mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	13d	1	1.33mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	13d	1	1.36mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	21d	1	1.39mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	1.41mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	1.41mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	13d	1	1.45mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	1.45mi
1132 Genesee St Unit 1132 Trenton, NJ	3.0	1.0	1198	$2,500	$2.09	21d	1	1.47mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	21d	1	1.47mi
88 Sundance Dr Trenton, NJ	3.0	2.5	1730	$3,103	$1.79	43d	1	1.49mi

Listing history 5 events

1. 2026-06-18
   days on market $225,000 Coming Soon 4 DOM
2. 2026-06-17
   days on market $225,000 Coming Soon 3 DOM
3. 2026-06-16
   days on market $225,000 Coming Soon 2 DOM
4. 2026-06-15
   remarks 24-char remark
5. 2026-06-15
   listed $225,000 Coming Soon 1 DOM

ⓘ 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: $2,892 · $241/mo
• Projected year-2 tax: $4,247 · $354/mo
• Expected delta: +$1,355/yr (+$113/mo · 46.9%)

ⓘ 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) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,180
• − Mortgage interest: −$12,603
• − Property taxes: −$2,892
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$6,545
• Taxable income: $1,345
• Est. tax owed @ 24.0%: −$323
• After-tax cash flow: $4,553/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: Trenton Public School District
• NCES district ID: 3416290
• Math proficiency: 2% ▼ -8.00%
• Reading proficiency: 16% ▼ -4.00%
• Median HH income: $35,078
• Composite: 7.31/100
• National rank: #9956
• State rank: #471 of 472 in NJ

Livability — Trenton

• Score: 76/100
• State rank: #133
• US rank: #3533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, NJ
• City population: 177,819
• Population (ZIP): 13,015

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 50% Black 36% White 11% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Dominican 10%
• Common ancestry: Swiss 5% Hispanic 3%
• Foreign-born: 42% · Canada, Jamaica, Guatemala
• Languages at home: 44% English-only · Spanish 45% French/Haitian/Cajun 6% Other Indo-European 2%

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: ▼ -331.65%
• Current HPI: 298.7405
• 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

+238.3% since first listed

2 events — show timeline

• 2026-06-15 Coming Soon $225,000 BRIGHT MLS
• 1989-10-03 Sold (Public Records) $66,500 Public Records

Property tax history

-0.9%/yr

Latest (2025): $2,892 · +1.5% YoY. Source: county tax records.