860 Lower Ferry Rd Unit 2 O · Ewing, NJ 08628

$179,745

2 bd · 1.0 ba · 1,100 sqft · Condo · 16 Days on market

Built 1973 Fair condition $757/mo HOA · 27% of rent

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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 +18.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Cambridge Hall, an affordable senior community in Ewing Township! This spacious 1-bedroom condo features a den that can easily be used as a second bedroom, home office, craft room, or guest space, generous size living room, as well as a kitchen with updated flooring and dining area. Residents of Cambridge Hall enjoy a host of amenities, including two elevators, an updated game room, a community pool, and ample parking for residents and guests. The spacious, welcoming lobby is the perfect place to greet family and friends, while the secure entry system provides peace of mind by allowing residents to buzz visitors in. Whether you're looking to downsize or simply enjoy a low-mainte

Key facts

• $757 HOA
• Community pool
• Built 1973

Property features AI

Finance

• HOA & community: Monthly condo fee: $757 (includes water); Community amenities: elevator, outdoor pool, fitness center, game room, community center

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Condominium unit (Unit/Flat); Mid-rise building (5–8 floors); Entry on floor 1; Senior community (55+)
• Construction: Brick construction; Two elevators
• Exterior features: Community outdoor pool; Parking lot; Above-grade and below-grade shared structures

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Baseboard electric heating; Wall unit cooling (electric); Natural gas hot water
• Interior features: Elevator access
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ewing Township School District (suburban): math 16% / reading 37% proficiency, ranked #358 of 472 in NJ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ewing High School (math 21% / reading 46%, grade F, #251 of 399 statewide, top 64%, 1,109 students, 43% FRL).
• Market conditions: 39 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 16 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• 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 $177,048 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.53% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 5.4

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-17,214
• Equity at exit: $26,801

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $1,755
• Equity at exit: $15,541

Cash invested: $50,329 (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 08628

• Active inventory: 39
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,757 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,696/yr
• Insurance: −$75
• HOA: −$757
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $179

Break-even live

Break-even rent $2,531

Max offer price $179,745

Occupancy floor 89%

Sensitivity live

Price	-10% $303	-5% $241	+0% $179	+5% $117	+10% $55
Rent	-10% $-39	-5% $70	+0% $179	+5% $288	+10% $397
Rate	-1.0pp $270	-0.5pp $225	base $179	+0.5pp $132	+1.0pp $85

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: $44,936
• Closing costs: $5,392
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
830 Lower Ferry Rd Ewing, NJ	3.0	2.0	1438	$2,975	$2.07	14d	1	0.15mi
500 Silvia St Ewing, NJ	1.0–2.0	1.0–2.0	1076	$2,845	$2.64	2d	14	0.44mi
125 W Farrell Ave Ewing Township, NJ	1.0–2.0	1.0	975	$2,460	$2.52	13d	6	0.44mi
34 Western Ave Ewing Township, NJ	1.0–3.0	1.0–1.5	832	$2,218	$2.66	14d	3	1.18mi
33 Sunset Ave Ewing, NJ	3.0	1.0	1260	$2,750	$2.18	14d	1	1.29mi
74 Kyle Way Ewing Township, NJ	2.0	2.0	1253	$2,400	$1.92	22d	1	1.33mi
103 Pennsylvania Ave Ewing, NJ	3.0	1.0	1200	$2,600	$2.17	14d	1	1.39mi

HOA detail condo

• Monthly dues: $757 · $9,084/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $179,745 Active 16 DOM
2. 2026-06-17
   days on market $179,745 Active 15 DOM
3. 2026-06-16
   days on market $179,745 Active 14 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   days on market $179,745 Active 13 DOM
6. 2026-06-14
   days on market $179,745 Active 11 DOM
7. 2026-06-13
   days on market $179,745 Active 10 DOM
8. 2026-06-10
   days on market $179,745 Active 8 DOM
9. 2026-06-09
   days on market $179,745 Active 7 DOM
10. 2026-06-08
    days on market $179,745 Active 6 DOM
11. 2026-06-07
    days on market $179,745 Active 5 DOM
12. 2026-06-03
    listed $179,745 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,087
• − Mortgage interest: −$10,069
• − Property taxes: −$2,696
• − Insurance: −$899
• − Repairs & maintenance: −$2,647
• − Management: −$2,647
• − HOA: −$9,084
• − Depreciation: −$5,229
• Taxable loss: −$183
• Est. tax savings @ 24.0%: +$44
• After-tax cash flow: $2,193/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 · 12 photos

Fair 45/100 Moderate rehab

The home requires moderate renovations to update the kitchen and paint interior walls, which will significantly increase its value for both resale and rental.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate kitchen countertops — dated and in need of replacement
• Moderate kitchen appliances — dated and in need of replacement

Value-add opportunities

• Both update kitchen cabinets, countertops, and appliances — modernizing the kitchen will increase both resale and rental value
• Both paint interior walls — fresh paint can improve the overall appearance and value of the home
• Both landscaping and curb appeal — improved landscaping can enhance the home's curb appeal and attract more potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
kitchen countertops · dated and in need of replacement	Moderate	$3,000–15,000
kitchen appliances · dated and in need of replacement	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both update kitchen cabinets, countertops, and appliances — modernizing the kitchen will increase both resale and rental value ↑
• Both paint interior walls — fresh paint can improve the overall appearance and value of the home ↑
• Both landscaping and curb appeal — improved landscaping can enhance the home's curb appeal and attract more potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ewing Township School District
• NCES district ID: 3404920
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $73,684
• Composite: 25.48/100
• National rank: #7443
• State rank: #358 of 472 in NJ

Livability — Ewing

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 22,816
• Population (ZIP): 9,479

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 0.56)
• Race & ethnicity: White 63% Black 17% Hispanic / Latino 10% Two or more races 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 7% Slovak 3% Scotch-Irish 2%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 6% Other Indo-European 3% German/W. Germanic 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: ▼ -199.76%
• Current HPI: 259.4472
• 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

1 event — show timeline

• 2026-06-02 Listed $179,745 BRIGHT MLS