18 Dexter St · Trenton, NJ 08638-4126

$135,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 11 Days on market

Built 1912 1,742 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

3 bedroom Twin With Covered Front Porch. Private Rear yard, Plenty of Street Parking. Full Eat-In Kitchen and Spacious Living Room. Newer Roof, and Boiler. Plenty of Storage. Easy To Show!

Key facts

• Covered front porch
• Eat in kitchen
• Large living room

Tags

• FENCED IN YARD
• COVERED FRONT PORCH
• FULL UNFINISHED BASEMENT
• LARGE LIVING ROOM
• EAT IN KITCHEN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electric service available; Gas available in street; Public water; Public sewer
• Home design: 1/2 duplex
• Construction: Approximate year built; Flat roof
• Exterior features: Brick exterior; Level lot

Interior

• Kitchen: Appliances: see remarks
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating; Window A/C units
• Interior features: Eat-in kitchen; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 12.9% 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: 1 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $76k; list at $135k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• 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 $135,000

Questions for the listing agent

1. Built in 1912 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.59% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.58%
• DSCR: 2.05
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $276,000
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Dexter St	0.00mi	3/1.0	1,200 (0%)	1mo	$139,000	$116	99
68 Myrtle	0.60mi	2/1.0 (-1)	1,208 (+1%)	6mo	$300,000	$248	61
133 Robbins Ave	0.65mi	3/2.5	1,176 (-2%)	6mo	$370,000	$315	55
709 Mulberry St S	0.69mi	3/2.0	1,240 (+3%)	8mo	$285,000	$230	52
22 Klagg Ave	0.66mi	2/1.0 (-1)	1,140 (-5%)	10mo	$150,000	$132	48
119 Robbins Ave	0.65mi	3/1.0	1,056 (-12%)	3mo	$355,000	$336	48
68 Weber	0.67mi	3/1.0	1,105 (-8%)	10mo	$157,000	$142	47
39 Heil Ave	0.28mi	2/1.0 (-1)	1,050 (-12%)	18mo	$145,000	$138	47
48 Homestead Ave	0.65mi	2/1.5 (-1)	1,054 (-12%)	4mo	$270,000	$256	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 2.68×
• Total profit: $63,627
• Equity at exit: $60,702

10-year hold

• IRR: 30.2%
• Equity multiple: 5.24×
• Total profit: $160,280
• Equity at exit: $93,549

Cash invested: $37,800 (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 08638-4126

• Active inventory: 1
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,152 high
• Mortgage (P&I): −$708
• Tax from tax record: −$193 /mo · $2,315/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $743

Break-even live

Break-even rent $1,212

Max offer price $135,000

Occupancy floor 60%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	13d	1	0.21mi
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	21d	1	0.22mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	13d	1	0.39mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	0.43mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	13d	1	0.49mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	13d	1	0.54mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	0.60mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	13d	1	0.65mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	13d	1	0.75mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	21d	1	0.79mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	0.88mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	0.89mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	1.00mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	21d	1	1.00mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	13d	1	1.00mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	21d	1	1.00mi
8 Belvidere St Trenton, NJ	2.0	1.0	1260	$1,900	$1.51	21d	1	1.02mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	1.03mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	13d	2	1.03mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	21d	1	1.04mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	21d	1	1.07mi
319 Rutherford Ave Trenton, NJ	4.0	2.0	1100	$2,200	$2.00	21d	1	1.09mi
27 Passaic St Trenton, NJ	2.0	1.0	900	$1,700	$1.89	21d	1	1.19mi
1001 Pennington Rd Unit 1-2B Ewing Township, NJ	2.0	1.0	700	$1,200	$1.71	21d	1	1.21mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	13d	1	1.22mi
311 Spring St Trenton, NJ	3.0	1.0	1200	$2,200	$1.83	13d	1	1.30mi
186 Passaic St Trenton, NJ	3.0	2.0	1064	$2,400	$2.26	4d	1	1.30mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	21d	1	1.31mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	13d	1	1.39mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	13d	1	1.39mi
600 Artisan St Unit 126 Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	20d	1	1.40mi
600 Artisan St Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	12d	3	1.40mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	13d	1	1.45mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	13d	1	1.45mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	13d	1	1.45mi
550 Lawrenceville Rd Lawrence Township, NJ	1.0–2.0	1.0	910	$1,655	$1.82	21d	1	1.47mi
756 Cherry Tree Ln Lawrence Township, NJ	2.0	1.0	1207	$2,200	$1.82	13d	1	1.49mi

Listing history 8 events

1. 2026-04-14
   status Under Contract
2. 2026-04-03
   listed $135,000 Active
3. 2007-05-03
   soldstatus $76,370
4. 2007-01-19
   soldstatus $76,370 188-char remark

   Show marketing remark (188 chars)

   3 bedroom Twin With Covered Front Porch. Private Rear yard, Plenty of Street Parking. Full Eat-In Kitchen and Spacious Living Room. Newer Roof, and Boiler. Plenty of Storage. Easy To Show!

5. 2006-11-27
   historical 188-char remark

   Show marketing remark (188 chars)

   3 bedroom Twin With Covered Front Porch. Private Rear yard, Plenty of Street Parking. Full Eat-In Kitchen and Spacious Living Room. Newer Roof, and Boiler. Plenty of Storage. Easy To Show!

6. 2006-08-28
   listed $76,370 188-char remark

   Show marketing remark (188 chars)

   3 bedroom Twin With Covered Front Porch. Private Rear yard, Plenty of Street Parking. Full Eat-In Kitchen and Spacious Living Room. Newer Roof, and Boiler. Plenty of Storage. Easy To Show!

7. 1990-11-21
   soldstatus $62,000
8. 1983-05-01
   soldstatus $19,500

ⓘ 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: $2,315 · $193/mo
• Projected year-2 tax: $2,838 · $237/mo
• Expected delta: +$523/yr (+$44/mo · 22.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°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: $25,823
• − Mortgage interest: −$7,562
• − Property taxes: −$2,315
• − Insurance: −$675
• − Repairs & maintenance: −$2,066
• − Management: −$2,066
• − Depreciation: −$3,927
• Taxable income: $7,212
• Est. tax owed @ 24.0%: −$1,731
• After-tax cash flow: $7,184/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+592.3% since first listed

8 events — show timeline

• 2026-04-14 Pending — GSMLS
• 2026-04-03 Listed $135,000 GSMLS
• 2007-05-03 Sold (Public Records) $76,370 Public Records
• 2007-01-19 Sold (MLS) $76,370 BRIGHT MLS
• 2006-11-27 Listing Removed — BRIGHT MLS
• 2006-08-28 Listed $76,370 BRIGHT MLS
• 1990-11-21 Sold (Public Records) $62,000 Public Records
• 1983-05-01 Sold (Public Records) $19,500 Public Records

Property tax history

-1.5%/yr

Latest (2025): $2,315 · +1.5% YoY. Source: county tax records.