118 CORBIN Ave #103 · Jersey City, NJ 07306

$225,000

1 bd · 1.0 ba · 405 sqft · Condo public records · 40 Days on market

Built 1900 $376/mo HOA · 15% of rent

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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 +13.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 1 bedroom, 1 bathroom condo located in the desirable Journal Square neighborhood of Jersey City. This unit offers the perfect blend of comfort and convenience. Situated in the heart of Journal Square, this condo provides unparalleled access to the vibrant energy of the city. With easy access to transportation, dining, shopping, and entertainment options, you'll have everything you need right at your doorstep. With Journal Square PATH station just moments away, Connect effortlessly to Manhattan and other parts of the city, making your daily travels a breeze.

Key facts

• Recent upgrades
• Renovated bathroom
• Brand new dishwasher

Tags

• UPDATED CONDO
• RECENT UPGRADES
• BRAND NEW DISHWASHER
• RENOVATED BATHROOM
• SHARED WASHER DRYER ROOM
• VIBRANT JOURNAL SQUARE

Property features AI

Finance

• Other: Lead paint form: Yes
• HOA & community: Managed by 118 Corbin Association; Monthly maintenance fee of $376 (2026); Maintenance covers heat, water, and hot water

Exterior

• Parking: No parking
• Utilities: Heat included in maintenance; Water included in maintenance; Hot water included in maintenance
• Home design: Condominium; Entry on level 1
• Construction: Brick construction
• Exterior features: Brick exterior; Near shopping, bus, parks, schools, and PATH

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas oven/range
• Bedrooms: 1 bedroom (level 1)
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall A/C; Radiator heat
• Interior features: Dishwasher; Microwave; Refrigerator; Gas oven/range; Washer/dryer room (common)
• Laundry & utility: Common washer/dryer room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $15 ($185/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 1.8% in Jersey City — 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 77/100 on livability (#116 in NJ, #2,955 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Jersey City Public Schools (urban): math 16% / reading 38% proficiency, ranked #369 of 472 in NJ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mahatma K. Gandhi School (math 13% / reading 31%, grade F, #951 of 1,303 statewide, top 75%, 1,001 students, 54% FRL); Academy I (math 60% / reading 76%, grade A-, #14 of 431 statewide, top 3%, 403 students, 46% FRL); William L Dickinson High School (math 11% / reading 35%, grade F, #337 of 399 statewide, top 85%, 2,024 students, 59% FRL) — zoned schools average 53% FRL vs 69% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.6%/yr); 219 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• This rent runs 40% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 6.38%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.43×
• Total profit: $-36,070
• Equity at exit: $33,548

10-year hold

• IRR: -8.4%
• Equity multiple: 0.48×
• Total profit: $-32,557
• Equity at exit: $19,454

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 6 Strongly Tenant-Friendly
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City Jersey City: 6 Strongly Tenant-Friendly · D+34

Rent Control Ordinance covers buildings 4+ units pre-1986.

Methodology + full state rankings →

ZIP-level market 07306

• Rents YoY: 2.6%
• Active inventory: 219
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,503 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$312 /mo · $3,748/yr
• Insurance: −$94
• HOA: −$376
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $15

Break-even live

Break-even rent $2,484

Max offer price $225,000

Occupancy floor 94%

Sensitivity live

Price	-10% $143	-5% $79	+0% $15	+5% $-48	+10% $-112
Rent	-10% $-182	-5% $-83	+0% $15	+5% $114	+10% $213
Rate	-1.0pp $129	-0.5pp $73	base $15	+0.5pp $-43	+1.0pp $-102

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43 Cottage St Unit 2012 Jersey City, NJ	—	1.0	367	$2,475	$6.74	26d	1	0.46mi
43 Cottage St Unit 2123 Jersey City, NJ	—	1.0	373	$2,425	$6.50	26d	1	0.46mi
43 Cottage St Unit 912 Jersey City, NJ	—	1.0	367	$2,375	$6.47	26d	1	0.46mi
43 Cottage St Unit 617 Jersey City, NJ	—	1.0	370	$2,325	$6.28	26d	1	0.46mi
9 Homestead Pl Jersey City, NJ	3.0	1.0–2.0	572	$3,733	$6.53	26d	19	0.49mi
9 Homestead Pl Jersey City, NJ	3.0	1.0–2.0	572	$3,950	$6.91	26d	18	0.49mi
425 Summit Ave Jersey City, NJ	3.0	1.0–2.0	807	$3,880	$4.80	0d	24	0.55mi
129 Magnolia Ave Jersey City, NJ	3.0	1.0–1.5	613	$2,007	$3.27	3d	3	0.59mi
115 Magnolia Ave Jersey City, NJ	—	1.0	300	$1,650	$5.50	9d	1	0.63mi
165 Hopkins Ave Unit 12 Jersey City, NJ	—	1.0	300	$1,595	$5.32	16d	1	0.67mi
64 Baldwin Ave Jersey City, NJ	1.0	1.0	340	$1,700	$5.00	9d	2	0.81mi
164 Ogden Ave #302 Jersey City, NJ	1.0	1.0	303	$2,100	$6.93	9d	1	1.32mi
303 1st St Jersey City, NJ	1.0	1.0	546	$4,586	$8.40	1d	37	1.47mi

HOA detail condo

• Monthly dues: $376 · $4,512/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $225,000 Active 40 DOM
2. 2026-06-18
   days on market $225,000 Active 37 DOM
3. 2026-06-17
   days on market $225,000 Active 36 DOM
4. 2026-06-16
   days on market $225,000 Active 35 DOM
5. 2026-06-15
   days on market $225,000 Active 34 DOM
6. 2026-06-13
   days on market $225,000 Active 32 DOM
7. 2026-06-13
   days on market $225,000 Active 31 DOM
8. 2026-06-09
   days on market $225,000 Active 28 DOM
9. 2026-06-08
   days on market $225,000 Active 27 DOM
10. 2026-06-07
    days on market $225,000 Active 26 DOM
11. 2026-06-04
    days on market $225,000 Active 23 DOM
12. 2026-06-03
    days on market $225,000 Active 22 DOM
13. 2026-06-02
    days on market $225,000 Active 21 DOM
14. 2026-06-01
    days on market $225,000 Active 20 DOM
15. 2026-05-31
    days on market $225,000 Active 19 DOM
16. 2026-05-12
    listed $225,000 Active
17. 2024-03-01
    soldstatus $200,000 Sold 579-char remark

    Show marketing remark (579 chars)

    Welcome to this 1 bedroom, 1 bathroom condo located in the desirable Journal Square neighborhood of Jersey City. This unit offers the perfect blend of comfort and convenience. Situated in the heart of Journal Square, this condo provides unparalleled access to the vibrant energy of the city. With easy access to transportation, dining, shopping, and entertainment options, you'll have everything you need right at your doorstep. With Journal Square PATH station just moments away, Connect effortlessly to Manhattan and other parts of the city, making your daily travels a breeze.

18. 2024-01-17
    status Under Contract 579-char remark

    Show marketing remark (579 chars)

    Welcome to this 1 bedroom, 1 bathroom condo located in the desirable Journal Square neighborhood of Jersey City. This unit offers the perfect blend of comfort and convenience. Situated in the heart of Journal Square, this condo provides unparalleled access to the vibrant energy of the city. With easy access to transportation, dining, shopping, and entertainment options, you'll have everything you need right at your doorstep. With Journal Square PATH station just moments away, Connect effortlessly to Manhattan and other parts of the city, making your daily travels a breeze.

19. 2024-01-03
    listed $187,500 Active 579-char remark

    Show marketing remark (579 chars)

    Welcome to this 1 bedroom, 1 bathroom condo located in the desirable Journal Square neighborhood of Jersey City. This unit offers the perfect blend of comfort and convenience. Situated in the heart of Journal Square, this condo provides unparalleled access to the vibrant energy of the city. With easy access to transportation, dining, shopping, and entertainment options, you'll have everything you need right at your doorstep. With Journal Square PATH station just moments away, Connect effortlessly to Manhattan and other parts of the city, making your daily travels a breeze.

20. 2023-12-07
    historical
21. 2023-11-15
    listed $187,500 Active
22. 2020-12-18
    historical
23. 2020-12-10
    price $184,999
24. 2020-10-29
    listed $191,500 Active
25. 2016-05-24
    soldstatus $115,000
26. 2014-04-29
    soldstatus $92,500
27. 2011-06-01
    historical
28. 2010-09-16
    listed $109,900
29. 2010-07-21
    historical
30. 2010-05-06
    listed $117,900

ⓘ 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: $3,748 · $312/mo
• Projected year-2 tax: $4,675 · $390/mo
• Expected delta: +$927/yr (+$77/mo · 24.7%)

ⓘ 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 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: $30,036
• − Mortgage interest: −$12,603
• − Property taxes: −$3,748
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,403
• − Management: −$2,403
• − HOA: −$4,512
• − Depreciation: −$6,545
• Taxable loss: −$3,303
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $977/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: Jersey City Public Schools
• NCES district ID: 3407830
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $58,431
• Composite: 24.43/100
• National rank: #7678
• State rank: #369 of 472 in NJ

Livability — Jersey City

• Score: 77/100
• State rank: #116
• US rank: #2955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jersey City, NJ
• County: Hudson County · 718,323 people
• City population: 294,078
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 54,017
• Household income: $74,953
• Rent vs Own: 75.8% rent · 24.2% own
• Severe rent burden: 4050.0

Population outlook (Hudson County) Hauer SSP2

• Today (2025): 771,834 people
• By 2030: 818,028 · +6.0%
• By 2040: 907,866 · +17.6%
• By 2050: 994,480 · +28.8%
• By 2075: 1,163,301 · +50.7%
• By 2100: 1,254,703 · +62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Asian 33% White 25% Hispanic / Latino 25% Two or more races 15% Black 12% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Dominican 6%
• Common ancestry: Romanian 2% Hispanic 1% Scotch-Irish 1%
• Foreign-born: 51% · Canada, China, Jamaica
• Languages at home: 38% English-only · Spanish 20% Other Indo-European 18% Arabic 8%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -219.21%
• Current HPI: 352.909
• Rent YoY: ▲ 2.65%
• 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

+90.8% since first listed

15 events — show timeline

• 2026-05-12 Listed $225,000 HCMLS
• 2024-03-01 Sold (MLS) $200,000 HCMLS
• 2024-01-17 Pending — HCMLS
• 2024-01-03 Listed $187,500 HCMLS
• 2023-12-07 Listing Removed — HCMLS
• 2023-11-15 Listed $187,500 HCMLS
• 2020-12-18 Listing Removed — HCMLS
• 2020-12-10 Price Changed $184,999 HCMLS
• 2020-10-29 Listed $191,500 HCMLS
• 2016-05-24 Sold (Public Records) $115,000 Public Records
• 2014-04-29 Sold (Public Records) $92,500 Public Records
• 2011-06-01 Listing Removed — HCMLS
• 2010-09-16 Listed $109,900 HCMLS
• 2010-07-21 Listing Removed — HCMLS
• 2010-05-06 Listed $117,900 HCMLS

Property tax history

+10.5%/yr

Latest (2025): $3,748 · +4.6% YoY. Source: county tax records.