472 Walker St · Fairview, NJ 07022

$1,650,000

None bd · None ba · — sqft · MultiFamily · 50 Days on market

Fair condition

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Why this score? — see what drove the D+ 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 +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Appreciation +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks

Prime Investment Opportunity: Fully Leased 6-Unit Multifamily Looking for a "set it and forget it" addition to your portfolio or 1031 Exchange? This 6-unit walk-up offers immediate cash flow, long-term stability, and a layout that maximizes rental income. Situated in a high-demand area, this property is perfectly positioned for the savvy investor. This property offers a versatile unit mix designed to attract a wide range of residents: Four 4 Spacious 3-Bedroom Units: Each featuring 1 full bath. These generous layouts are the backbone of the building's revenue. Two 2 Efficient 1-Bedroom Units: Parking & Storage: Total of four garage spaces. Each side of the building features

Key facts

• Retail convenience
• High demand area
• Versatile unit mix

Tags

• HIGH DEMAND AREA
• VERSATILE UNIT MIX
• 100 PERCENT OCCUPANCY
• COMMUTERS DREAM
• RETAIL CONVENIENCE
• LAUNDRY AREA READY

Property features AI

Exterior

• Home design: Residential Income property; Mixed-use
• Exterior features: Flat roof

What this means for you Summary

Snapshot

• This is a 4×3bd/1ba + 2×1bd/1ba units multifamily listed at $1.65M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $223/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.61M (2.3% below list).
• Recommended offer: $1.60M (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.5% in Fairview — 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 74/100 on livability (#174 in NJ, #4,548 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute C-, schools D-, cost of living F.
• Fairview Public School District (suburban): math 6% / reading 30% proficiency, ranked #440 of 472 in NJ (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• At $16,125/mo this rent would consume 304% of the median local household income ($64k/yr) (locally 1247% 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 (-2.1%/yr); year-one equity from $11k of loan paydown is wiped out by about $35k of value loss. Plan a longer hold.
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($1.60M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $1,600,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.47%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 Walker St	0.14mi	7/3.5	—	1mo	$935,000	—	80
385A Roosevelt St	0.26mi	4/3.5	—	2mo	$860,000	—	74
423 8th St	0.30mi	4/2.0	—	1mo	$690,000	—	73
373 Jersey Ave	0.28mi	7/5.0	—	2mo	$1,170,000	—	73
174 Maple St	0.33mi	7/5.5	—	2mo	$1,200,000	—	70
677 Greeley Ave	0.41mi	4/2.0	—	1mo	$700,000	—	68
397 Oak St	0.51mi	5/3.0	—	0mo	$925,000	—	64
272 Wilson Ave	0.55mi	4/3.0	—	0mo	$800,000	—	62
214 Morris St	0.53mi	6/3.0	2,296	1mo	$930,000	$405	62
579 Oregon Ave	0.63mi	3/3.0	—	0mo	$750,000	—	58
9005 Smith Ave	0.68mi	4/4.0	—	1mo	$825,000	—	55
800 De Lalla Ter	0.72mi	5/3.5	—	0mo	$1,150,000	—	54

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

Projected returns pro-forma

-2.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.74×
• Total profit: $-118,601
• Equity at exit: $313,508

10-year hold

• IRR: 1.7%
• Equity multiple: 1.14×
• Total profit: $63,585
• Equity at exit: $261,329

Cash invested: $462,000 (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 07022

• Home prices YoY: -0.6%
• Active inventory: 25
• Price-to-rent: 46.4×

Monthly cashflow live

• Estimated rent: $16,125 high
• Mortgage (P&I): −$8,653
• Tax est. 1.5%: −$2,062 /mo · $24,750/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,386
• Net cashflow: $1,336

Break-even live

Break-even rent $14,434

Max offer price $1,650,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$11,848
▸ 2× units	1	1	$4,278
Total (6 units)			$16,125

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
491 Walker St Unit 3C Fairview, NJ	2.0	2.0	—	$3,099	—	24d	1	0.03mi
208 Bergen Blvd Unit 3 Fairview, NJ	1.0	1.0	—	$1,750	—	24d	1	0.06mi
319 7th St Fairview, NJ	3.0	2.0	—	$3,500	—	21d	1	0.14mi
520 Cliff St Fairview, NJ	1.0–2.0	1.0–2.0	900	$3,000	$3.33	3d	1	0.14mi
225 6th St #2 Fairview, NJ	3.0	2.0	—	$3,000	—	24d	1	0.17mi
333 Bergen Blvd Fairview, NJ	1.0	1.0	723	$2,675	$3.70	7d	1	0.17mi
311 6th St Unit C Fairview, NJ	2.0	1.0	—	$2,200	—	7d	1	0.17mi
399 Walker St Unit 1B Fairview, NJ	3.0	1.0	—	$3,200	—	20d	1	0.20mi
440 Morningside Ave Fairview, NJ	1.0	1.0	650	$1,900	$2.92	24d	1	0.20mi
311 5th St Unit 2 Fairview, NJ	3.0	1.0	—	$3,000	—	24d	1	0.22mi
311 5th St Unit B Fairview, NJ	2.0	1.0	—	$2,400	—	24d	1	0.22mi
371 Bergen Blvd Fairview, NJ	1.0–2.0	1.0	900	$3,000	$3.33	3d	5	0.26mi
150 6th St Unit 3 Fairview, NJ	1.0	1.0	—	$1,750	—	20d	1	0.27mi
648 Fairview Ave Unit 2 Fairview, NJ	3.0	1.0	—	$3,000	—	24d	1	0.28mi
129 6th St #1 Fairview, NJ	2.0	1.0	—	$2,395	—	20d	1	0.30mi
2 Carlen Ct Unit 1 Fairview, NJ	3.0	2.0	—	$3,900	—	18d	1	0.31mi
174 Maple St Apt 3 Fairview, NJ	3.0	2.0	—	$3,400	—	2d	1	0.31mi
7 Luxoro Pl Unit 1 Fairview, NJ	2.0	1.0	—	$2,500	—	7d	1	0.32mi
380 Park Ave Unit 2 Fairview, NJ	2.0	1.0	—	$2,000	—	24d	1	0.32mi
322 Anderson Ave Fairview, NJ	1.0	1.0	—	$1,900	—	24d	1	0.34mi
182 Anderson Ave Unit 3A Fairview, NJ	1.0	1.0	—	$2,950	—	24d	1	0.35mi
261 Walker St Fairview, NJ	1.0	1.0	—	$1,812	—	24d	1	0.36mi
261 Walker St Unit 6 Fairview, NJ	1.0	1.0	—	$1,775	—	3d	1	0.36mi
470 Bergen Blvd Unit 2nd Fl Ridgefield, NJ	3.0	1.0	—	$2,900	—	24d	1	0.36mi
4 Burdette Pl Fairview, NJ	2.0	1.0	—	$1,950	—	21d	1	0.37mi
166 Sedore Ave Unit 1 Fairview, NJ	1.0	1.0	—	$1,500	—	7d	1	0.38mi
455 Fairview Ave Fairview, NJ	1.0	1.0	900	$1,822	$2.02	1d	4	0.38mi
403 Anderson Ave Unit 4 B Fairview, NJ	2.0	1.0	—	$1,900	—	3d	1	0.39mi
370 Henry St Apt 2 Fairview, NJ	3.0	2.0	—	$2,900	—	24d	1	0.39mi
282-284 Washington St Unit 284 Fairview, NJ	3.0	1.5	—	$4,000	—	24d	1	0.43mi
248 Clark Ter Cliffside Park, NJ	3.0	2.5	—	$4,750	—	24d	1	0.44mi
307 Henry St #2 Fairview, NJ	2.0	1.0	—	$2,500	—	24d	1	0.45mi
505 Westview Ave Unit 1st Floor Ridgefield, NJ	3.0	1.0	—	$3,000	—	2d	1	0.45mi
44 Bergen Blvd Unit 9 Fairview, NJ	1.0	1.0	—	$1,850	—	24d	1	0.45mi
509 Saint Pauls Ave Unit Second Floor Cliffside Park, NJ	1.0	1.0	—	$2,000	—	24d	1	0.45mi
44 Bergen Blvd #4 Fairview, NJ	1.0	1.0	—	$1,900	—	24d	1	0.46mi
284 John St Unit 1 Cliffside Park, NJ	1.0	1.0	—	$2,000	—	24d	1	0.46mi
234 Kamena St Unit 3 Fairview, NJ	3.0	1.0	—	$2,800	—	24d	1	0.46mi
238 Clark Ter Unit 2nd floor Cliffside Park, NJ	3.0	1.0	—	$3,000	—	24d	1	0.46mi
365 Commercial Ave Unit 2 Cliffside Park, NJ	1.0	1.0	—	$1,750	—	24d	1	0.46mi

Listing history 15 events

1. 2026-06-18
   days on market $1,650,000 Active 50 DOM
2. 2026-06-17
   days on market $1,650,000 Active 49 DOM
3. 2026-06-16
   days on market $1,650,000 Active 48 DOM
4. 2026-06-15
   days on market $1,650,000 Active 47 DOM
5. 2026-06-13
   days on market $1,650,000 Active 45 DOM
6. 2026-06-13
   days on market $1,650,000 Active 44 DOM
7. 2026-06-09
   days on market $1,650,000 Active 41 DOM
8. 2026-06-08
   days on market $1,650,000 Active 40 DOM
9. 2026-06-07
   days on market $1,650,000 Active 39 DOM
10. 2026-06-04
    days on market $1,650,000 Active 36 DOM
11. 2026-06-03
    days on market $1,650,000 Active 35 DOM
12. 2026-06-02
    days on market $1,650,000 Active 34 DOM
13. 2026-06-01
    days on market $1,650,000 Active 33 DOM
14. 2026-05-31
    days on market $1,650,000 Active 32 DOM
15. 2026-04-27
    listed $1,650,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $193,500
• − Mortgage interest: −$92,426
• − Property taxes: −$24,750
• − Insurance: −$8,250
• − Repairs & maintenance: −$15,480
• − Management: −$15,480
• − Depreciation: −$48,000
• Taxable loss: −$10,886
• Est. tax savings @ 24.0%: +$2,613
• After-tax cash flow: $18,644/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

This 6-unit multifamily property presents as needing moderate renovations to improve its condition and value. Immediate updates to the kitchen and bathrooms, along with a new HVAC system, would significantly enhance its resale and rental potential.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Major bathroom fixtures — dated and in poor condition
• Major bathroom tile — dated and in poor condition
• Unknown HVAC system — photos do not show HVAC

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing kitchen will appeal to buyers and renters
• Both replace bathroom fixtures and tile — modernizing bathrooms will appeal to buyers and renters
• Both install new HVAC system — modernizing HVAC will improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen countertops · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
bathroom tile · dated and in poor condition	Major	$15,000–50,000
HVAC system · photos do not show HVAC	Unknown	$500–3,000
Total estimated repair cost · 5 items		$36,500–133,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing kitchen will appeal to buyers and renters ↑
• Both replace bathroom fixtures and tile — modernizing bathrooms will appeal to buyers and renters ↑
• Both install new HVAC system — modernizing HVAC will improve comfort and energy efficiency ↑

ⓘ 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: Fairview Public School District
• NCES district ID: 3405070
• Math proficiency: 6% ▼ -20.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $49,155
• Composite: 16.08/100
• National rank: #9236
• State rank: #440 of 472 in NJ

Livability — Fairview

• Score: 74/100
• State rank: #174
• US rank: #4548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview, NJ
• County: Bergen County · 586,961 people
• City population: 15,099
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,099
• Household income: $63,606
• Rent vs Own: 66.8% rent · 33.2% own
• Severe rent burden: 1247.0

Population outlook (Bergen County) Hauer SSP2

• Today (2025): 1,021,896 people
• By 2030: 1,063,119 · +4.0%
• By 2040: 1,146,566 · +12.2%
• By 2050: 1,229,132 · +20.3%
• By 2075: 1,429,694 · +39.9%
• By 2100: 1,547,614 · +51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 29% Two or more races 16% Asian 4% Native American 1% Black 1%
• Hispanic origin (detail): Puerto Rican 5% Cuban 4% Dominican 7%
• Common ancestry: Lithuanian 2% Iranian 1% Italian 1%
• Foreign-born: 48% · Canada, Jamaica, South Korea
• Languages at home: 29% English-only · Spanish 56% Arabic 4% Other Indo-European 4%

Political lean MEDSL · Bergen

• 2024 margin: Toss-up / Even · D 50.7% · R 47.3% · Other 2.0%
• 2008→2024 swing: -6.1pp toward R · 2008: 9.5pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+16.4 2016: D+12.0 2012: D+10.8 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.09%
• Current HPI: 342.7225
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

• 2026-04-27 Listed $1,650,000 NJMLS