12 Parkside Ave · Trenton, NJ 08618

$740,000

30 bd · None ba · 4,614 sqft · MultiFamily public records · 107 Days on market

Built 1914 0.29 ac lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Located in the heart of Trenton’s sought-after historic area, this nicely updated 6-unit multifamily property offers a rare blend of classic charm and modern improvements. The building features spacious units with thoughtful renovations, preserving original character while providing today’s conveniences. Updates include refreshed interiors, well-maintained common areas, and strong mechanicals, making this a turnkey opportunity for investors or owner-occupants. Conveniently situated near downtown, public transportation, government offices, and local amenities, this property delivers both historic appeal and consistent rental demand. A solid addition to any investment portfolio.

Key facts

• Strong mechanicals
• Historic area
• Refreshed interiors

Tags

• HISTORIC AREA
• SPACIOUS UNITS
• THOUGHTFUL RENOVATIONS
• REFRESHED INTERIORS
• WELL-MAINTAINED COMMON AREAS
• STRONG MECHANICALS

Property features AI

Exterior

• Parking: Detached garage with front entry; Covered parking; Driveway; Total of 2 garage/parking spaces (2-car garage)
• Utilities: Public water; Public sewer; 200+ amp electric service; Natural gas for heating and hot water
• Home design: Detached structure; Shingle roof; Fee simple ownership
• Construction: Concrete construction; Concrete perimeter foundation; Estimated year built
• Exterior features: Lot dimensions approximately 125 x 100; Tidal water not present; Other structures above and below grade

Interior

• Bedrooms: Three 1-room units; Two 1-bedroom units; One 3-bedroom unit
• Flooring: Wood
• Heating & cooling: Hot water heating (natural gas); Wall cooling units (natural gas cooling fuel)
• Interior features: Wood flooring; Full unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 6 × 5-bed/?-bath units multifamily listed at $740k.

Deal economics

• At list price, monthly cash flow is $7k ($88k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $740k).
• Recommended offer: $673k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.2% 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; 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $15,473/mo this rent would consume 368% 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 $5k of loan paydown is wiped out by about $22k 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 $207k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($673k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago 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 $51k; list at $740k implies a 1351% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $673,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.09% ✓
• Cap rate: 18.25%
• Cash-on-cash: 42.69%
• DSCR: 2.90
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 39.0%
• Equity multiple: 2.66×
• Total profit: $343,386
• Equity at exit: $110,336

10-year hold

• IRR: 45.2%
• Equity multiple: 5.24×
• Total profit: $878,527
• Equity at exit: $63,982

Cash invested: $207,200 (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: 23.9×

Monthly cashflow live

• Estimated rent: $15,473 medium
• Mortgage (P&I): −$3,881
• Tax from tax record: −$664 /mo · $7,971/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,249
• Net cashflow: $7,370

Break-even live

Break-even rent $6,143

Max offer price $740,000

Occupancy floor 47%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	5	—	$15,474
Total (6 units)			$15,473

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: $185,000
• Closing costs: $22,200
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   status Pending
2. 2026-02-25
   price $740,000
3. 2026-01-25
   listed $750,000 Active
4. 2004-09-15
   historical
5. 2004-06-21
   listed $325,000
6. 1975-09-16
   soldstatus $51,000

ⓘ 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: $7,971 · $664/mo
• Projected year-2 tax: $13,198 · $1,100/mo
• Expected delta: +$5,228/yr (+$436/mo · 65.6%)

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

Taxation est. · year 1

• Rental income: $185,676
• − Mortgage interest: −$41,452
• − Property taxes: −$7,971
• − Insurance: −$3,700
• − Repairs & maintenance: −$14,854
• − Management: −$14,854
• − Depreciation: −$21,527
• Taxable income: $81,318
• Est. tax owed @ 24.0%: −$19,516
• After-tax cash flow: $68,929/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

+1351.0% since first listed

6 events — show timeline

• 2026-05-12 Pending — BRIGHT MLS
• 2026-02-25 Price Changed $740,000 BRIGHT MLS
• 2026-01-25 Listed $750,000 BRIGHT MLS
• 2004-09-15 Listing Removed — BRIGHT MLS
• 2004-06-21 Listed $325,000 BRIGHT MLS
• 1975-09-16 Sold (Public Records) $51,000 Public Records

Property tax history

+4.8%/yr

Latest (2014): $7,971 · +0.6% YoY. Source: county tax records.