48 Atterbury Ave · Trenton, NJ 08618

$199,000

5 bd · 1.0 ba · 1,588 sqft · Townhouse public records · 4 Days on market

Built 1909 2,200 sqft lot Est $175k · 14% 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity, This semi attached home is tenant occupied with long term tenant who would like to stay in the home. Totally renovated, new modern kitchen with ceramic tiles, brand new stainless steel appliances (refrigerator, stove and dishwasher), new gas heater and gas hot water heater, new electric service and most wiring, new windows, main roof is new, fenced yard, new light fixtures through entire house, new bath, recessed lighting, new laminate floors in living room and dining room, electric fireplace. This is a Must SEE!!! Multiple offers received. Highest and best is due by 5:00 9/29/2020

Key facts

• Built 1909
• Listed 4 days

Property features AI

Finance

• Other: Ownership: Fee simple; Above-grade finished area reported by assessor

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Public sewer; Hot water: natural gas
• Home design: Semi-detached structure
• Construction: Concrete perimeter foundation; Above-grade and below-grade structures
• Exterior features: Brick front; Lot dimensions approximately 22 x 100 feet; No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level; Two bedrooms on the second upper level
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Radiator heating (natural gas); Window air conditioning units (powered by natural gas)
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Cap rate 10.3% 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: Rents rising (+2.6%/yr); 144 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,722/mo this rent would consume 65% of the median local household income ($50k/yr) (locally 2116% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 18y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $199k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $199,000

Questions for the listing agent

1. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.37% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.18%
• DSCR: 1.63
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $174,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Delawareview Ave	0.07mi	4/1.0 (-1)	1,564 (-2%)	8mo	$172,500	$110	82
506 Riverside Ave	0.10mi	4/1.0 (-1)	1,402 (-12%)	3mo	$160,000	$114	69
58 W End Ave	0.25mi	4/1.0 (-1)	1,506 (-5%)	8mo	$80,000	$53	68
508 Riverside Ave	0.10mi	4/1.0 (-1)	1,384 (-13%)	1mo	$160,000	$116	68
12 Jarvis Pl	0.30mi	4/1.0 (-1)	1,736 (+9%)	10mo	$160,000	$92	57
31 Bryn Mawr Ave	0.71mi	4/1.0 (-1)	1,596 (+0%)	7mo	$181,050	$113	55
129 Passaic St	0.45mi	4/1.5 (-1)	1,734 (+9%)	9mo	$190,000	$110	49
205 Rosemont Ave	0.59mi	4/1.0 (-1)	1,432 (-10%)	10mo	$120,000	$84	43
28 Bryn Mawr Ave	0.69mi	4/1.0 (-1)	1,428 (-10%)	4mo	$130,000	$91	42
22 Bryn Mawr Ave	0.68mi	4/1.0 (-1)	1,772 (+12%)	6mo	$205,000	$116	39
210 Highland Ave	0.69mi	4/1.0 (-1)	1,422 (-10%)	10mo	$115,000	$81	37
212 Highland Ave	0.70mi	4/1.0 (-1)	1,422 (-10%)	10mo	$115,000	$81	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 · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $4,511
• Equity at exit: $29,672

10-year hold

• IRR: 11.3%
• Equity multiple: 1.87×
• Total profit: $48,649
• Equity at exit: $17,206

Cash invested: $55,720 (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 08618

• Rents YoY: 2.6%
• Active inventory: 144
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,722 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$366 /mo · $4,388/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $592

Break-even live

Break-even rent $1,973

Max offer price $199,000

Occupancy floor 73%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 W State St Trenton, NJ	5.0	2.0	1870	$2,900	$1.55	12d	1	0.19mi
510 W Hanover St Trenton, NJ	5.0	1.0	1200	$2,200	$1.83	13d	1	0.34mi
223 Spring St Trenton, NJ	6.0	2.0	1490	$2,700	$1.81	4d	1	0.50mi
319 Rutherford Ave Trenton, NJ	4.0	2.0	1100	$2,200	$2.00	21d	1	0.52mi
510 N Hermitage Ave Trenton, NJ	5.0	1.5	1316	$2,500	$1.90	12d	1	0.54mi
311 Calhoun St Trenton, NJ	4.0	1.0	1516	$2,400	$1.58	43d	1	0.56mi
73 Bellevue Ave Trenton, NJ	4.0	2.0	1950	$2,400	$1.23	13d	1	0.68mi
73 Oak Ln #2 Trenton, NJ	4.0	1.0	1886	$2,300	$1.22	13d	1	0.88mi
1442 W State St Trenton, NJ	5.0	2.5	1956	$3,000	$1.53	12d	1	1.02mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	13d	1	1.12mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	1.20mi
129 Clearfield Ave Trenton, NJ	4.0	1.5	1358	$3,000	$2.21	12d	1	1.22mi

Listing history 9 events

1. 2026-06-18
   days on market $199,000 Active 4 DOM
2. 2026-06-17
   days on market $199,000 Active 3 DOM
3. 2026-06-16
   days on market $199,000 Active 2 DOM
4. 2026-06-15
   statusdays on market $199,000 Active 1 DOM
5. 2026-06-14
   days on market $199,000 Coming Soon 6 DOM
6. 2026-06-10
   days on market $199,000 Coming Soon 3 DOM
7. 2026-06-09
   days on market $199,000 Coming Soon 2 DOM
8. 2026-06-08
   remarks 693-char remark
9. 2026-06-08
   listed $199,000 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: $4,388 · $366/mo
• Projected year-2 tax: $4,672 · $389/mo
• Expected delta: +$284/yr (+$24/mo · 6.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°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: $32,665
• − Mortgage interest: −$11,147
• − Property taxes: −$4,388
• − Insurance: −$1,792
• − Repairs & maintenance: −$2,613
• − Management: −$2,613
• − Depreciation: −$5,789
• Taxable income: $4,322
• Est. tax owed @ 24.0%: −$1,037
• After-tax cash flow: $6,065/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
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 35,634
• Household income: $50,390
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2116.0

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 0.59)
• Race & ethnicity: Black 59% White 19% Hispanic / Latino 16% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 2% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 10% Other Indo-European 3% Arabic 1%

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: ▼ -309.54%
• Current HPI: 288.6841
• Rent YoY: ▲ 2.60%
• Metro: Trenton-Princeton, NJ
• 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

+231.7% since first listed

34 events — show timeline

• 2026-06-07 Coming Soon $199,000 BRIGHT MLS
• 2026-04-27 Listing Removed — BRIGHT MLS
• 2026-04-21 Price Changed $199,000 BRIGHT MLS
• 2026-01-23 Listed $210,000 BRIGHT MLS
• 2021-02-05 Sold (Public Records) $76,000 Public Records
• 2020-12-01 Sold (MLS) $76,000 BRIGHT MLS
• 2020-11-17 Pending — BRIGHT MLS
• 2020-10-03 Contingent — BRIGHT MLS
• 2020-08-13 Relisted — BRIGHT MLS
• 2020-08-12 Contingent — BRIGHT MLS
• 2020-07-15 Listed $69,999 BRIGHT MLS
• 2016-10-17 Listing Removed — BRIGHT MLS
• 2015-04-17 Listed $91,200 BRIGHT MLS
• 2015-04-01 Listing Removed — BRIGHT MLS
• 2014-10-01 Listed $91,200 BRIGHT MLS
• 2014-09-19 Listing Removed — BRIGHT MLS
• 2014-03-19 Listed $100,000 BRIGHT MLS
• 2012-12-11 Listing Removed — BRIGHT MLS
• 2012-08-10 Listed $105,000 BRIGHT MLS
• 2012-07-23 Listing Removed — BRIGHT MLS
• 2012-04-23 Listed $105,000 BRIGHT MLS
• 2012-04-10 Listing Removed — BRIGHT MLS
• 2011-10-10 Listed $115,000 BRIGHT MLS
• 2011-08-15 Listing Removed — BRIGHT MLS
• 2010-11-16 Listed $125,000 BRIGHT MLS
• 2010-08-19 Listing Removed — BRIGHT MLS
• 2010-07-02 Listed $129,900 BRIGHT MLS
• 2010-06-21 Listing Removed — BRIGHT MLS
• 2009-09-21 Listed $129,900 BRIGHT MLS
• 2009-08-22 Listing Removed — BRIGHT MLS
• 2009-02-23 Listed $143,000 BRIGHT MLS
• 2008-10-09 Sold (MLS) $40,000 BRIGHT MLS
• 2008-09-20 Listing Removed — BRIGHT MLS
• 2008-08-26 Listed $60,000 BRIGHT MLS

Property tax history

+0.2%/yr

Latest (2025): $4,388 · +1.5% YoY. Source: county tax records.