429 FAIRMOUNT Ave · Jersey City, NJ 07306

$235,000

1 bd · 1.0 ba · 488 sqft · Condo · 1 Days on market

Built 1925

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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 +16.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• DSCR +5.1/10.0
• 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

Welcome to this beautifully maintained 1-bedroom, 1-bath home at Fairmount Court, ideally situated in the vibrant Journal Square section of Jersey City. This bright and inviting residence offers a comfortable living area, functional kitchen with ample cabinetry, and a spacious bedroom retreat. Perfect for commuters, you’re just minutes from the Journal Square Transportation Center, plus easy access to buses, restaurants, cafés, and shopping. Whether you're a first-time buyer or savvy investor, this is an exceptional opportunity to own in one of Jersey City’s most convenient and growing neighborhoods. Move right in and enjoy city living at its best!

Key facts

• Functional kitchen
• Easy access to buses
• Shopping

Tags

• COMFORTABLE LIVING AREA
• FUNCTIONAL KITCHEN
• SPACIOUS BEDROOM RETREAT
• EASY ACCESS TO BUSES
• RESTAURANTS AND CAFÉS
• SHOPPING

Property features AI

Finance

• Other: Lead paint form: Yes; Tenants belongings excluded
• HOA & community: Maintenance covers heat and water

Exterior

• Parking: No parking
• Home design: Built in 1925
• Construction: Brick construction
• Exterior features: Brick exterior; Elevator in building; Lot number 14

Interior

• Kitchen: One kitchen (level 1)
• Bedrooms: 1 bedroom (level 1)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Radiators; Steam heating
• Interior features: Refrigerator; Gas oven/range; Radiator/steam hot water heating

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Cap rate 7.0% 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.
• Market conditions: Rents rising (+2.6%/yr); 217 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 42% 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $235,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.12% ✓
• Cap rate: 6.97%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 7.4

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: -12.8%
• Equity multiple: 0.54×
• Total profit: $-30,366
• Equity at exit: $35,039

10-year hold

• IRR: -4.3%
• Equity multiple: 0.72×
• Total profit: $-18,416
• Equity at exit: $20,319

Cash invested: $65,800 (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: 217
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,643 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA est. from 6 same-building comps: −$332
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $132

Break-even live

Break-even rent $2,476

Max offer price $235,000

Occupancy floor 90%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Baldwin Ave Jersey City, NJ	1.0	1.0	340	$1,700	$5.00	8d	2	0.63mi
36 Journal Square Plz Jersey City, NJ	3.0	1.0–2.0	874	$4,563	$5.22	2d	127	0.67mi
425 Summit Ave Jersey City, NJ	2.0	1.0–2.0	751	$3,882	$5.17	2d	30	0.72mi
9 Homestead Pl Jersey City, NJ	3.0	1.0–2.0	572	$3,950	$6.91	25d	18	0.84mi
9 Homestead Pl Jersey City, NJ	3.0	1.0–2.0	572	$3,733	$6.53	24d	19	0.84mi
129 Magnolia Ave Jersey City, NJ	3.0	1.0–1.5	613	$2,007	$3.27	2d	3	0.85mi
115 Magnolia Ave Jersey City, NJ	—	1.0	300	$1,650	$5.50	8d	1	0.87mi
43 Cottage St Unit 617 Jersey City, NJ	—	1.0	370	$2,325	$6.28	25d	1	0.87mi
43 Cottage St Unit 2123 Jersey City, NJ	—	1.0	373	$2,425	$6.50	25d	1	0.87mi
43 Cottage St Unit 912 Jersey City, NJ	—	1.0	367	$2,375	$6.47	25d	1	0.87mi
43 Cottage St Unit 2012 Jersey City, NJ	—	1.0	367	$2,475	$6.74	25d	1	0.87mi
400 Claremont Ave Jersey City, NJ	2.0	1.0–2.0	1392	$2,780	$2.00	5d	22	1.08mi
165 Hopkins Ave Unit 12 Jersey City, NJ	—	1.0	300	$1,595	$5.32	15d	1	1.17mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-02
   remarks 656-char remark
2. 2026-06-02
   listed $235,000 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°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: $31,715
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,537
• − Management: −$2,537
• − HOA: −$3,984
• − Depreciation: −$6,836
• Taxable loss: −$2,044
• Est. tax savings @ 24.0%: +$490
• After-tax cash flow: $2,073/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

+6.9% since first listed

8 events — show timeline

• 2026-06-01 Listed $235,000 HCMLS
• 2026-01-12 Rental Removed $2,200 HCMLS
• 2025-10-30 Listed for Rent $2,200 HCMLS
• 2025-10-08 Rental Removed $2,200 HCMLS
• 2025-08-23 Listed for Rent $2,200 HCMLS
• 2022-03-19 Price Changed $1,600 RENT.
• 2007-02-20 Listing Removed — HCMLS
• 2006-08-29 Listed $219,900 HCMLS