63 Seventh St · Salem, NJ 08079

$100,000

4 bd · 2.5 ba · 2,441 sqft · SingleFamily · 1 Days on market

Built 1925 8,281 sqft lot Est $137k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

BANK OWNED PROPERTY! ALL OFFERS MUST HAVE PREQUAL & PROOF OF FUNDS! PROPERTY SOLD AS IS! ALL CERTS AND REPAIRS AND THE RESPONSIBILITY OF THE BUYER!!

Key facts

• 8,281 sq ft lot
• Built 1925

Property features AI

Finance

• Other: Pets allowed with no restrictions
• Financial info: Ground rent payment frequency: annually

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Detached structure; Fee simple ownership
• Construction: Frame construction; Block foundation
• Exterior features: Long lot approximately 40 x 207; Not in a federal flood zone; Above-grade and below-grade structures

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the second upper level
• Bathrooms: Two full bathrooms (all upper levels); One half bathroom on the main level
• Heating & cooling: 90% forced air heating; Window air conditioning units (electric)
• Interior features: Additional bedroom(s); Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 20.6% vs local median 8.1% in Salem — 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 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John Fenwick Academy (411 students, 77% FRL); Salem Middle School (math 2% / reading 21%, grade F, #423 of 431 statewide, top 98%, 487 students, 79% FRL); Salem High School (math 17% / reading 37%, grade F, #312 of 399 statewide, top 79%, 420 students, 52% FRL) — zoned schools average 69% FRL vs 85% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 103 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,383/mo this rent would consume 52% of the median local household income ($55k/yr) (locally 663% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $311 of equity ($691 loan paydown + $-380 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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 $48k; list at $100k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $100,000

Questions for the listing agent

1. Built in 1925 — 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 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?
4. 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.
5. 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.
6. 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: 2.38% ✓
• Cap rate: 20.59%
• Cash-on-cash: 51.08%
• DSCR: 3.27
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $136,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
63 Seventh St	0.00mi	4/2.5	2,441 (0%)	1mo	$104,000	$43	100
61 Eighth St	0.07mi	4/2.5	2,344 (-4%)	11mo	$230,000	$98	81
49 Market St	0.21mi	5/2.5 (+1)	2,459 (+1%)	10mo	$247,000	$100	75
154 Seventh St	0.20mi	4/2.0	2,692 (+10%)	12mo	$45,000	$17	61
234-236 Church St	0.44mi	5/2.0 (+1)	2,394 (-2%)	18mo	$50,000	$21	55
35 Walnut St	0.50mi	4/1.5	2,278 (-7%)	9mo	$180,000	$79	54
349 E Broadway	0.59mi	5/2.0 (+1)	2,348 (-4%)	16mo	$65,000	$28	46
19 Olive St	0.60mi	3/2.0 (-1)	2,529 (+4%)	16mo	$133,000	$53	46
337 Craven Ave	0.52mi	5/2.0 (+1)	2,205 (-10%)	9mo	$306,000	$139	45
56 New Market St	0.53mi	4/1.5	2,240 (-8%)	16mo	$50,000	$22	45
26 Olive St	0.62mi	4/1.0	2,164 (-11%)	3mo	$200,000	$92	44
201 Wesley St	0.54mi	3/1.0 (-1)	2,175 (-11%)	21mo	$122,000	$56	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.1%
• Equity multiple: 3.54×
• Total profit: $71,242
• Equity at exit: $27,150

10-year hold

• IRR: 55.0%
• Equity multiple: 7.11×
• Total profit: $171,072
• Equity at exit: $31,166

Cash invested: $28,000 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 103
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,383 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $1,192

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,261	-5% $1,226	+0% $1,192	+5% $1,157	+10% $1,123
Rent	-10% $1,003	-5% $1,098	+0% $1,192	+5% $1,286	+10% $1,380
Rate	-1.0pp $1,242	-0.5pp $1,217	base $1,192	+0.5pp $1,166	+1.0pp $1,140

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	7d	1	0.17mi
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	46d	1	0.55mi

Listing history 12 events

1. 2026-05-03
   status Pending
2. 2026-05-02
   listed $100,000 Active
3. 2008-09-26
   soldstatus $48,000 157-char remark

   Show marketing remark (157 chars)

   BANK OWNED PROPERTY! ALL OFFERS MUST HAVE PREQUAL & PROOF OF FUNDS! PROPERTY SOLD AS IS! ALL CERTS AND REPAIRS AND THE RESPONSIBILITY OF THE BUYER!!

4. 2008-08-24
   historical 157-char remark

   Show marketing remark (157 chars)

   BANK OWNED PROPERTY! ALL OFFERS MUST HAVE PREQUAL & PROOF OF FUNDS! PROPERTY SOLD AS IS! ALL CERTS AND REPAIRS AND THE RESPONSIBILITY OF THE BUYER!!

5. 2008-08-08
   listed $56,500 157-char remark

   Show marketing remark (157 chars)

   BANK OWNED PROPERTY! ALL OFFERS MUST HAVE PREQUAL & PROOF OF FUNDS! PROPERTY SOLD AS IS! ALL CERTS AND REPAIRS AND THE RESPONSIBILITY OF THE BUYER!!

6. 2007-10-17
   historical
7. 2007-09-21
   listed $129,900
8. 2007-01-27
   historical
9. 2006-08-13
   listed $112,500
10. 2004-07-28
    soldstatus $65,000
11. 2004-05-24
    historical
12. 2003-06-13
    listed $65,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,600
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,288
• − Management: −$2,288
• − Depreciation: −$2,909
• Taxable income: $13,514
• Est. tax owed @ 24.0%: −$3,243
• After-tax cash flow: $11,058/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: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+53.8% since first listed

12 events — show timeline

• 2026-05-03 Pending — BRIGHT MLS
• 2026-05-02 Listed $100,000 BRIGHT MLS
• 2008-09-26 Sold (MLS) $48,000 SJSRMLS
• 2008-08-24 Listing Removed — SJSRMLS
• 2008-08-08 Listed $56,500 SJSRMLS
• 2007-10-17 Listing Removed — BRIGHT MLS
• 2007-09-21 Listed $129,900 BRIGHT MLS
• 2007-01-27 Listing Removed — BRIGHT MLS
• 2006-08-13 Listed $112,500 BRIGHT MLS
• 2004-07-28 Sold (MLS) $65,000 BRIGHT MLS
• 2004-05-24 Listing Removed — BRIGHT MLS
• 2003-06-13 Listed $65,000 BRIGHT MLS