39 Laurel Ave · Trenton, NJ 08618

$225,000

4 bd · 1.0 ba · 1,285 sqft · SingleFamily public records · 69 Days on market

Built 1911 1,742 sqft lot Est $311k · 28% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• 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

Turnkey, cash-flowing investment with a reliable Section 8 tenant in place, delivering $2,399/month + $50 pet fee for immediate income. Recently renovated in June 2025, offering modern upgrades and strong long-term rental appeal. Buyer responsible for all municipal requirements, making this a compelling opportunity for investors seeking consistent returns. Borrower tour video must be reviewed prior to any showings; pre-approval required for access.

Key facts

• 1,742 sq ft lot
• Built 1911
• Listed 69 days

Property features AI

Finance

• HOA & community: Pets allowed

Exterior

• Parking: No driveway
• Utilities: Electric service; Natural gas; Public sewer; Public water
• Home design: Duplex; Renovated in 2025
• Construction: Renovated construction; Exterior: Aluminum siding and stone
• Exterior features: Patio; Aluminum siding; Stone accents; Asphalt shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating (natural gas); Window A/C units
• Interior features: Eat-in kitchen; Unfinished basement; Patio
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $225,000 price doesn't fit this home's estimated sale value (~$310,970) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/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: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 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: 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); 144 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,583/mo this rent would consume 62% of the median local household income ($50k/yr) (locally 2116% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1911 — 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 $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.44%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $310,970
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Oliver Ave	0.23mi	4/1.0	1,184 (-8%)	0mo	$325,000	$274	76
134 Oliver Ave	0.28mi	3/1.0 (-1)	1,318 (+3%)	4mo	$310,000	$235	74
803 Pennington Ave	0.41mi	3/1.5 (-1)	1,248 (-3%)	1mo	$282,500	$226	68
23 Cadwalader Ter	0.33mi	3/2.0 (-1)	1,344 (+5%)	5mo	$325,000	$242	64
166 Clover Ave	0.59mi	4/2.0	1,336 (+4%)	7mo	$395,000	$296	56
27--29-31 Kelsey	0.66mi	4/1.0	1,365 (+6%)	4mo	$150,000	$110	55
1052 Pennington Rd	0.50mi	3/1.0 (-1)	1,365 (+6%)	9mo	$320,000	$234	54
31 N Lenape Ave	0.55mi	3/1.0 (-1)	1,364 (+6%)	7mo	$301,050	$221	54
21 Clover	0.66mi	3/1.0 (-1)	1,200 (-7%)	3mo	$340,000	$283	50
310 Rutherford Ave	0.72mi	3/1.0 (-1)	1,172 (-9%)	2mo	$162,000	$138	45
7 Pershing Ave	0.69mi	3/1.5 (-1)	1,379 (+7%)	5mo	$404,000	$293	45
325 Concord Ave	0.55mi	3/2.5 (-1)	1,452 (+13%)	10mo	$377,400	$260	33

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-5,893
• Equity at exit: $33,548

10-year hold

• IRR: 6.8%
• Equity multiple: 1.50×
• Total profit: $31,437
• Equity at exit: $19,454

Cash invested: $63,000 (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: 144
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,583 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$271 /mo · $3,257/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $496

Break-even live

Break-even rent $1,956

Max offer price $225,000

Occupancy floor 76%

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 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 N Hermitage Ave Trenton, NJ	5.0	1.5	1316	$2,500	$1.90	12d	1	0.29mi
600 Artisan St Unit 126 Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	20d	1	0.48mi
600 Artisan St Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	12d	3	0.48mi
20 N Overbrook Ave Unit B Trenton, NJ	3.0	1.0	1518	$2,300	$1.52	12d	1	0.49mi
649 W State St Trenton, NJ	5.0	2.0	1870	$2,900	$1.55	12d	1	0.59mi
319 Rutherford Ave Trenton, NJ	4.0	2.0	1100	$2,200	$2.00	21d	1	0.72mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	21d	1	0.76mi
311 Spring St Trenton, NJ	3.0	1.0	1200	$2,200	$1.83	13d	1	0.85mi
186 Passaic St Trenton, NJ	3.0	2.0	1064	$2,400	$2.26	4d	1	0.89mi
510 W Hanover St Trenton, NJ	5.0	1.0	1200	$2,200	$1.83	13d	1	0.89mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	13d	1	0.98mi
311 Calhoun St Trenton, NJ	4.0	1.0	1516	$2,400	$1.58	43d	1	0.98mi
129 Clearfield Ave Trenton, NJ	4.0	1.5	1358	$3,000	$2.21	12d	1	1.00mi
92 Pennwood Dr Ewing, NJ	4.0	3.0	1702	$3,850	$2.26	13d	1	1.04mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	13d	1	1.08mi
21 Bellevue Ave Trenton, NJ	3.0	2.0	1740	$2,400	$1.38	43d	1	1.12mi
34 Western Ave Ewing Township, NJ	1.0–3.0	1.0–1.5	832	$2,685	$3.23	13d	3	1.24mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	1.37mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	1.50mi

Listing history 13 events

1. 2026-05-18
   status Under Contract
2. 2026-04-22
   price $225,000
3. 2026-03-10
   listed $250,000 Active
4. 2026-01-28
   soldstatus $215,000
5. 2025-05-18
   historical $2,399
6. 2025-05-02
   price $2,399
7. 2025-05-01
   listed $2,500
8. 2025-04-30
   historical $2,500
9. 2025-03-30
   listed $2,500
10. 2007-12-19
    soldstatus $68,250
11. 1990-03-12
    soldstatus $33,750
12. 1987-06-03
    soldstatus $27,000
13. 1979-05-01
    soldstatus $8,500

ⓘ 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: $3,257 · $271/mo
• Projected year-2 tax: $4,430 · $369/mo
• Expected delta: +$1,173/yr (+$98/mo · 36.0%)

ⓘ 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: $30,999
• − Mortgage interest: −$12,603
• − Property taxes: −$3,257
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,480
• − Management: −$2,480
• − Depreciation: −$6,545
• Taxable income: $2,508
• Est. tax owed @ 24.0%: −$602
• After-tax cash flow: $5,346/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

+2547.1% since first listed

13 events — show timeline

• 2026-05-18 Pending — GSMLS
• 2026-04-22 Price Changed $225,000 GSMLS
• 2026-03-10 Listed $250,000 GSMLS
• 2026-01-28 Sold (Public Records) $215,000 Public Records
• 2025-05-18 Rental Removed $2,399 TENANTTURNER2
• 2025-05-02 Price Changed $2,399 TENANTTURNER2
• 2025-05-01 Listed for Rent $2,500 TENANTTURNER2
• 2025-04-30 Rental Removed $2,500 RENT.
• 2025-03-30 Listed for Rent $2,500 RENT.
• 2007-12-19 Sold (Public Records) $68,250 Public Records
• 1990-03-12 Sold (Public Records) $33,750 Public Records
• 1987-06-03 Sold (Public Records) $27,000 Public Records
• 1979-05-01 Sold (Public Records) $8,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $3,257 · +1.5% YoY. Source: county tax records.