49 Bond St · Trenton, NJ 08618

$130,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 1 Days on market

Built 1892 4,356 sqft lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• 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

Listing remarks

This charming 2-bedroom, 1-bathroom townhouse in the Battle Monument subdivision offers a wonderful affordable opportunity for a homeowner or prime investment opportunity with significant potential for returns. Built in 1892 and effectively renovated in 2022, this property combines historic character with modern amenities. Interior features include a dining room enhancing the living space's appeal. The kitchen is equipped with stainless steel appliances, including a gas stove and refrigerator. This property boasts two generous sized bedrooms with built in closets and a full bathroom with tub shower. The unfinished basement offers additional storage. On the exterior, the property boasts a we

Key facts

• Unfinished basement
• Dining room
• Gas stove

Tags

• DINING ROOM
• STAINLESS STEEL APPLIANCES
• GAS STOVE
• REFRIGERATOR
• UNFINISHED BASEMENT
• WELL MAINTAINED LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.3% vs local median 5.8% 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: 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.
• Zoned schools: Dr. Martin Luther King Jr. Elementary School (math 3% / reading 6%); Luis Munoz-Rivera Ms (math 2% / reading 20%); Trenton Central High School - Main Campus (math 2% / reading 10%, grade F, #396 of 399 statewide, top 99%, 2,255 students, 56% FRL) — zoned schools average 56% FRL vs 80% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.6%/yr); 148 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 42% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1892 — 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 $130,000

Questions for the listing agent

1. Built in 1892 — 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: 1.37% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.14%
• DSCR: 1.63
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $261,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Bond St	0.02mi	3/1.0 (+1)	898 (-0%)	7mo	$181,050	$202	88
1 W State St Unit 1	0.68mi	3/1.0 (+1)	1,025 (+14%)	18mo	$297,000	$290	24

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 · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.15×
• Total profit: $5,613
• Equity at exit: $19,383

10-year hold

• IRR: 13.2%
• Equity multiple: 2.03×
• Total profit: $37,465
• Equity at exit: $11,240

Cash invested: $36,400 (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: 148
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,781 high
• Mortgage (P&I): −$682
• Tax from tax record: −$242 /mo · $2,910/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $429

Break-even live

Break-even rent $1,238

Max offer price $130,000

Occupancy floor 71%

Sensitivity live

Price	-10% $502	-5% $466	+0% $429	+5% $392	+10% $355
Rent	-10% $288	-5% $359	+0% $429	+5% $499	+10% $570
Rate	-1.0pp $494	-0.5pp $462	base $429	+0.5pp $395	+1.0pp $361

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	22d	1	0.30mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,220	$1.36	22d	1	0.41mi
12 Belvidere St Trenton, NJ	1.0	1.0	1068	$1,600	$1.50	22d	1	0.51mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	22d	1	0.52mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	15d	2	0.57mi
150 E State St Trenton, NJ	1.0	1.0	627	$1,750	$2.79	22d	1	0.58mi
27 Passaic St Trenton, NJ	2.0	1.0	900	$1,700	$1.89	22d	1	0.69mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	22d	1	0.82mi
186 Passaic St Trenton, NJ	3.0	2.0	1064	$2,400	$2.26	6d	1	0.84mi
307 Spring St Unit 3 Trenton, NJ	2.0	1.0	559	$1,800	$3.22	15d	1	0.84mi
307 Spring St Unit 2 Trenton, NJ	2.0	1.0	689	$1,750	$2.54	15d	1	0.84mi
329 W State St Trenton, NJ	1.0	1.0	650	$1,500	$2.31	22d	1	0.90mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	15d	1	0.91mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	22d	1	1.07mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	22d	1	1.08mi
720 Monmouth St Unit 103 Trenton, NJ	1.0	1.0	832	$1,450	$1.74	22d	1	1.13mi
720 Monmouth St Unit 111 Trenton, NJ	1.0	1.0	1102	$1,500	$1.36	22d	1	1.13mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	22d	1	1.13mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	22d	1	1.14mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	1.14mi
435 Tyler St Unit 115 Trenton, NJ	1.0	1.0	860	$1,600	$1.86	22d	1	1.14mi
435 Tyler St Unit 123 Trenton, NJ	1.0	1.0	607	$1,475	$2.43	22d	1	1.14mi
435 Tyler St Apt 203 Trenton, NJ	1.0	1.0	662	$1,500	$2.27	22d	1	1.14mi
1001 Pennington Rd Unit 1-2B Ewing Township, NJ	2.0	1.0	700	$1,200	$1.71	22d	1	1.17mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	15d	4	1.21mi
732 W State St Fl back Trenton, NJ	1.0	1.0	600	$1,150	$1.92	22d	1	1.30mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	22d	1	1.32mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	22d	1	1.42mi
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	22d	1	1.44mi
176 Division St Apt 211 Trenton, NJ	1.0	1.0	675	$1,450	$2.15	22d	1	1.44mi
27 E Palmer St Unit 6 Morrisville, PA	2.0	1.0	1100	$2,100	$1.91	15d	1	1.46mi
27 E Palmer St Unit 5 Morrisville, PA	2.0	1.0	750	$1,750	$2.33	15d	1	1.46mi

Listing history 2 events

1. 2026-06-07
   remarks 699-char remark
2. 2026-06-07
   listed $130,000 Pending 1 DOM

ⓘ 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: $2,910 · $242/mo
• Projected year-2 tax: $3,073 · $256/mo
• Expected delta: +$164/yr (+$14/mo · 5.6%)

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

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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,376
• − Mortgage interest: −$7,282
• − Property taxes: −$2,910
• − Insurance: −$650
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − Depreciation: −$3,782
• Taxable income: $3,333
• Est. tax owed @ 24.0%: −$800
• After-tax cash flow: $4,347/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

4 events — show timeline

• 2026-06-04 Pending — BRIGHT MLS
• 2026-03-07 Listing Removed — BRIGHT MLS
• 2026-03-06 Listed $130,000 BRIGHT MLS
• 2023-08-30 Rental Removed — BUILDIUM

Property tax history

+4.9%/yr

Latest (2025): $2,910 · +1.5% YoY. Source: county tax records.