46 Delevan St · Lambertville, NJ 08530

$785,000

4 bd · 3.0 ba · 2,048 sqft · SingleFamily public records · 19 Days on market

Built 1828 3,001 sqft lot Est $860k · 9% 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 +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New construction within the bones of an antique home, this property was gutted to studs, reconfigured floor plan to match modern tastes, and is being completely redone from scratch. Featuring a first floor bedroom (or bonus living room if you so desire), then main level has been blown wide open with a free flowing dining room/kitchen and sitting area. Walk out to the covered patio and green grass backyard, full of light. Upstairs the second level offers three bedrooms and a bonus/flex room on the third floor. A driveway offers off-street parking for three cars (stacked). Enjoy the walk-to-everything lifestyle just minutes from both the N Union commercial district and downtown Lambertville and "sister city" across the bridge - New Hope, PA. More photos coming soon as the work progresses

Key facts

• 3,001 sq ft lot
• 3 parking spots
• Built 1828

Property features AI

Finance

• Other: Fee simple ownership; Property condition listed as excellent; Finished above-grade area reported as 2,390; Total below-grade area reported as 0; No tidal water; Bus stop within one mile

Exterior

• Parking: Paved driveway; Driveway parking with 3 spaces (total 3 garage/parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached structure; Construction not completed / new construction (effective year 2026); Frame construction; Stone foundation
• Construction: Frame construction; Stone foundation; Construction not completed
• Exterior features: Lot dimensions approximately 25.00 x 120.00; Sidewalks; Shed on the property; Other above-grade and below-grade structures

Interior

• Bedrooms: Three bedrooms on the upper level; One bedroom on the main level
• Bathrooms: Three full bathrooms (two on the upper level, one on the main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfinished basement; Sidewalks
• Laundry & utility: Laundry on the main floor

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $785k.

Deal economics

• At list price, monthly cash flow is $8k ($97k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $785k).
• Recommended offer: $773k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 4.7% in Lambertville — 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 (#168 in NJ, #4,460 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute F, cost of living F.
• South Hunterdon Regional School District (rural): math 13% / reading 43% proficiency, ranked #335 of 472 in NJ (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 52 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 389 units permitted in Hunterdon County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Hunterdon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $220k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($773k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $420k; list at $785k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1828 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $773,225 (1.5% below list)

Questions for the listing agent

1. Built in 1828 — 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. 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.
4. 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.
5. 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: 2.16% ✓
• Cap rate: 18.59%
• Cash-on-cash: 43.92%
• DSCR: 2.95
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $860,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 N Franklin St	0.09mi	4/2.5	1,924 (-6%)	19mo	$675,000	$351	68
58 Alexander Ave	0.31mi	4/2.5	2,032 (-1%)	20mo	$530,000	$261	66
10 Perry St	0.21mi	3/2.5 (-1)	2,275 (+11%)	2mo	$1,305,000	$574	63
100 W Bridge St	0.70mi	3/2.5 (-1)	2,000 (-2%)	0mo	$2,050,000	$1,025	56
103 Highland Ave	0.74mi	4/2.0	2,016 (-2%)	4mo	$715,000	$355	56
44 York St	0.06mi	3/3.5 (-1)	1,820 (-11%)	19mo	$969,600	$533	56
57 N Main St	0.46mi	3/1.0 (-1)	1,948 (-5%)	3mo	$950,000	$488	55
30 Highland Ave	0.66mi	4/2.5	2,294 (+12%)	2mo	$652,000	$284	45
58 W Mechanic St	0.67mi	3/3.0 (-1)	2,300 (+12%)	3mo	$966,000	$420	41
81 New St	0.72mi	4/2.0	2,106 (+3%)	22mo	$1,025,000	$487	40
55 S Union St	0.43mi	3/2.5 (-1)	2,248 (+10%)	21mo	$609,000	$271	39
204-1/2 Brunswick Ave	0.69mi	3/1.5 (-1)	1,744 (-15%)	20mo	$600,000	$344	16

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: 40.9%
• Equity multiple: 2.75×
• Total profit: $385,373
• Equity at exit: $117,046

10-year hold

• IRR: 47.1%
• Equity multiple: 5.53×
• Total profit: $996,230
• Equity at exit: $67,872

Cash invested: $219,800 (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 08530

• Active inventory: 52
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $16,990 medium
• Mortgage (P&I): −$4,117
• Tax from tax record: −$934 /mo · $11,206/yr
• Insurance: −$327
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,568
• Net cashflow: $8,044

Break-even live

Break-even rent $6,807

Max offer price $785,000

Occupancy floor 48%

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: $196,250
• Closing costs: $23,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Arnett Ave Unit 1380124P Lambertville, NJ	4.0	2.0	2497	$25,101	$10.05	44d	1	0.36mi
70 W Bridge St New Hope, PA	3.0	2.5	2718	$6,800	$2.50	10d	1	0.64mi
242 S Sugan Rd New Hope, PA	5.0	2.0	2744	$4,500	$1.64	1d	1	1.42mi

Listing history 30 events

1. 2026-06-18
   status $785,000 Pending 19 DOM
2. 2026-06-10
   status $785,000 Active Under Contract 19 DOM
3. 2026-06-09
   status $785,000 Pending 19 DOM
4. 2026-06-08
   days on market $785,000 Active 19 DOM
5. 2026-06-07
   days on market $785,000 Active 18 DOM
6. 2026-06-04
   days on market $785,000 Active 15 DOM
7. 2026-06-03
   days on market $785,000 Active 14 DOM
8. 2026-06-02
   days on market $785,000 Active 13 DOM
9. 2026-06-01
   days on market $785,000 Active 12 DOM
10. 2026-05-31
    days on market $785,000 Active 11 DOM
11. 2026-05-22
    listed $784,996 Active 806-char remark

    Show marketing remark (806 chars)

    New construction within the bones of an antique home, this property was gutted to studs, reconfigured floor plan to match modern tastes, and is being completely redone from scratch. Featuring a first floor bedroom (or bonus living room if you so desire), then main level has been blown wide open with a free flowing dining room/kitchen and sitting area. Walk out to the covered patio and green grass backyard, full of light. Upstairs the second level offers three bedrooms and a bonus/flex room on the third floor. A driveway offers off-street parking for three cars (stacked). Enjoy the walk-to-everything lifestyle just minutes from both the N Union commercial district and downtown Lambertville and "sister city" across the bridge - New Hope, PA. More photos coming soon as the work progresses

12. 2026-05-20
    listed $785,000 Active
13. 2026-05-19
    historical $785,000
14. 2025-11-26
    soldstatus $420,000
15. 2025-11-25
    soldstatus $420,000 Closed 734-char remark

    Show marketing remark (734 chars)

    Wonderful Renovation Opportunity in the Heart of Lambertville This single detached home with off-street parking presents the perfect project for those looking to create their dream residence. Gutted to the studs and ready for renovation, this spacious two-story home with an attic offers abundant square footage and endless design possibilities. Located outside of the flood zone in one of Lambertville’s most sought-after neighborhoods, the property comes with architectural plans to help guide your vision. A private driveway provides plenty of off-street parking—an added convenience in this desirable town setting. Whether you bring your toolbox or your contractor, this Lambertville gem is ready for its next chapter.

16. 2025-10-23
    status Pending 734-char remark

    Show marketing remark (734 chars)

    Wonderful Renovation Opportunity in the Heart of Lambertville This single detached home with off-street parking presents the perfect project for those looking to create their dream residence. Gutted to the studs and ready for renovation, this spacious two-story home with an attic offers abundant square footage and endless design possibilities. Located outside of the flood zone in one of Lambertville’s most sought-after neighborhoods, the property comes with architectural plans to help guide your vision. A private driveway provides plenty of off-street parking—an added convenience in this desirable town setting. Whether you bring your toolbox or your contractor, this Lambertville gem is ready for its next chapter.

17. 2025-09-30
    listed $399,900 Active 734-char remark

    Show marketing remark (734 chars)

    Wonderful Renovation Opportunity in the Heart of Lambertville This single detached home with off-street parking presents the perfect project for those looking to create their dream residence. Gutted to the studs and ready for renovation, this spacious two-story home with an attic offers abundant square footage and endless design possibilities. Located outside of the flood zone in one of Lambertville’s most sought-after neighborhoods, the property comes with architectural plans to help guide your vision. A private driveway provides plenty of off-street parking—an added convenience in this desirable town setting. Whether you bring your toolbox or your contractor, this Lambertville gem is ready for its next chapter.

18. 2024-07-29
    soldstatus $564,900
19. 2024-07-23
    historical
20. 2024-07-23
    soldstatus $564,900 Closed
21. 2024-07-23
    soldstatus $564,900 Sold
22. 2024-06-21
    status Pending
23. 2024-06-21
    status Under Contract
24. 2024-04-26
    historical Under Contract Cont. to Show
25. 2024-04-26
    status Active Under Contract
26. 2023-12-17
    historical
27. 2023-12-16
    historical
28. 2023-09-18
    listed $575,000 Active
29. 2023-09-17
    listed $575,000 Active
30. 2023-09-14
    historical $575,000

ⓘ 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: $11,206 · $934/mo
• Projected year-2 tax: $15,376 · $1,281/mo
• Expected delta: +$4,170/yr (+$348/mo · 37.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 62% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $203,877
• − Mortgage interest: −$43,972
• − Property taxes: −$11,206
• − Insurance: −$3,925
• − Repairs & maintenance: −$16,310
• − Management: −$16,310
• − Depreciation: −$22,836
• Taxable income: $89,317
• Est. tax owed @ 24.0%: −$21,436
• After-tax cash flow: $75,096/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: South Hunterdon Regional School District
• NCES district ID: 3400769
• Math proficiency: 13% ▼ -27.00%
• Reading proficiency: 43% ▼ -17.00%
• Median HH income: $82,621
• Composite: 27.54/100
• National rank: #6948
• State rank: #335 of 472 in NJ

Livability — Lambertville

• Score: 74/100
• State rank: #168
• US rank: #4460

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lambertville, NJ
• Population (ZIP): 8,146

Population outlook (Hunterdon County) Hauer SSP2

• Today (2025): 122,644 people
• By 2030: 121,131 · -1.2%
• By 2040: 117,753 · -4.0%
• By 2050: 112,601 · -8.2%
• By 2075: 104,371 · -14.9%
• By 2100: 93,364 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 8% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 6% Iranian 2% Serbian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Hunterdon

• 2024 margin: Lean R (+6.7) · D 45.7% · R 52.4% · Other 1.9%
• 2008→2024 swing: +6.7pp toward D · 2008: -13.3pp · 2024: -6.7pp
• All cycles: 2024: R+6.7 2020: R+4.4 2016: R+13.8 2012: R+18.8 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -193.68%
• Current HPI: 226.5618
• 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

+36.5% since first listed

20 events — show timeline

• 2026-05-22 Listed $784,996 GSMLS
• 2026-05-20 Listed $785,000 BRIGHT MLS
• 2026-05-19 Coming Soon $785,000 BRIGHT MLS
• 2025-11-26 Sold (Public Records) $420,000 Public Records
• 2025-11-25 Sold (MLS) $420,000 BRIGHT MLS
• 2025-10-23 Pending — BRIGHT MLS
• 2025-09-30 Listed $399,900 BRIGHT MLS
• 2024-07-29 Sold (Public Records) $564,900 Public Records
• 2024-07-23 Listing Removed — BRIGHT MLS
• 2024-07-23 Sold (MLS) $564,900 GSMLS
• 2024-07-23 Sold (MLS) $564,900 BRIGHT MLS
• 2024-06-21 Pending — BRIGHT MLS
• 2024-06-21 Pending — GSMLS
• 2024-04-26 Contingent — GSMLS
• 2024-04-26 Relisted — BRIGHT MLS
• 2023-12-17 Delisted — GSMLS
• 2023-12-16 Listing Removed — BRIGHT MLS
• 2023-09-18 Listed $575,000 GSMLS
• 2023-09-17 Listed $575,000 BRIGHT MLS
• 2023-09-14 Coming Soon $575,000 BRIGHT MLS

Property tax history

+4.4%/yr

Latest (2025): $11,206 · +13.7% YoY. Source: county tax records.