128 Magowan Ave · Hamilton, NJ 08619

$265,000

2 bd · 1.0 ba · 850 sqft · SingleFamily public records · 1 Days on market

Built 1930 4,818 sqft lot Est $315k · 16% under

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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).

• ARV discount +14.7/15.0
• Cash flow +12.4/30.0
• 1% rule +4.1/10.0
• DSCR +3.7/10.0
• Rent growth +2.9/5.0
• Schools +2.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

harming 1930s Bungalow in the Heart of Hamilton Township! Don't miss this opportunity to own a classic bungalow full of character and potential. This cozy home features 2 bedrooms, 1 full bath, and a spacious full basement offering plenty of storage. The inviting layout combines vintage charm with everyday functionality. Step outside to enjoy the fully fenced backyard, perfect for pets, gardening, entertaining, or simply relaxing in your own private outdoor space. Conveniently located in the heart of Hamilton Township, you'll be just minutes from shopping, dining, parks, schools, major highways, and public transportation. Whether you're a first-time homebuyer, downsizing, or looking for an

Key facts

• 4,818 sq ft lot
• Built 1930

Tags

• FULLY FENCED BACKYARD
• SPACIOUS FULL BASEMENT
• PRIVATE OUTDOOR SPACE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Municipal trash service
• Home design: Detached property; Below-average condition (per listing data)
• Construction: Brick/mortar foundation; Asphalt roof
• Exterior features: Not in a federal flood zone; Lot dimensions approximately 43 x 112

Interior

• Bedrooms: One bedroom on the main level; One bedroom on the upper level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (90%); Oil-fired heating; Electric hot water
• Interior features: Full basement with interior access; 5 total rooms; Living area reported by assessor
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-43 ($-512/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (8.8% below list).
• Recommended offer: $242k (8.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hamilton Township Public School District (suburban): math 17% / reading 41% proficiency, ranked #338 of 472 in NJ (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Klockner Elementary School (math 12% / reading 32%, grade F, #951 of 1,303 statewide, top 75%, 265 students, 49% FRL); Richard C Crockett Middle School (math 15% / reading 41%, grade F, #335 of 431 statewide, top 79%, 863 students, 51% FRL); Hamilton North - Nottingham (math 14% / reading 52%, grade F, #259 of 399 statewide, top 66%, 1,005 students, 46% FRL) — zoned schools average 49% FRL vs 29% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 74 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

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

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $241,671 (8.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.91% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $315,350
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Smith Ave	0.14mi	2/1.0	960 (+13%)	20mo	$250,000	$260	56
49 Nebraska Ave	0.36mi	2/1.0	768 (-10%)	24mo	$285,000	$371	48

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 · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.34×
• Total profit: $-48,905
• Equity at exit: $39,512

10-year hold

• IRR: -14.9%
• Equity multiple: 0.20×
• Total profit: $-59,030
• Equity at exit: $22,912

Cash invested: $74,200 (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 08619

• Rents YoY: 1.6%
• Active inventory: 74
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,417 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$452 /mo · $5,421/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-43

Break-even live

Break-even rent $2,471

Max offer price $257,465

Occupancy floor 97%

Sensitivity live

Price	-10% $107	-5% $32	+0% $-43	+5% $-118	+10% $-193
Rent	-10% $-234	-5% $-138	+0% $-43	+5% $53	+10% $148
Rate	-1.0pp $91	-0.5pp $25	base $-43	+0.5pp $-111	+1.0pp $-181

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
197 Nebraska Ave Hamilton Township, NJ	1.0–2.0	1.0	825	$2,300	$2.79	15d	1	0.56mi
1474 Nottingham Way Hamilton Township, NJ	1.0–2.0	1.0	775	$2,195	$2.83	23d	1	0.70mi
108 Brookside Ave Unit 2 Hamilton Township, NJ	1.0	1.0	650	$1,350	$2.08	23d	1	1.06mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	1.24mi
1555 Klockner Rd Unit 20201 Hamilton Township, NJ	1.0	1.0	808	$2,700	$3.34	23d	1	1.25mi
1555 Klockner Rd Unit 5204 Hamilton Township, NJ	2.0	2.0	1100	$3,000	$2.73	23d	1	1.25mi
1555 Klockner Rd Unit 20205 Hamilton Township, NJ	2.0	2.0	1100	$3,200	$2.91	23d	1	1.25mi
1555 Klockner Rd Unit 20203 Hamilton Township, NJ	2.0	2.0	1048	$2,600	$2.48	23d	1	1.25mi
1555 Klockner Rd Unit 20306 Hamilton Township, NJ	1.0	1.0	979	$2,900	$2.96	23d	1	1.25mi
740 Estates Blvd Hamilton Township, NJ	1.0–2.0	1.0	801	$2,155	$2.69	15d	29	1.33mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	23d	1	1.36mi
114 Washington Ct Hamilton Township, NJ	1.0	1.0	560	$1,475	$2.63	23d	3	1.38mi
900 Grand Central Dr Hamilton Township, NJ	1.0–3.0	1.0–2.5	1401	$3,342	$2.39	15d	31	1.39mi
515 Dakota Dr Hamilton Township, NJ	1.0	1.0	725	$2,195	$3.03	23d	1	1.47mi

Listing history 2 events

1. 2026-06-22
   remarks 699-char remark
2. 2026-06-22
   listed $265,000 Coming Soon 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: $5,421 · $452/mo
• Projected year-2 tax: $6,010 · $501/mo
• Expected delta: +$589/yr (+$49/mo · 10.9%)

ⓘ 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 ≥101°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: $29,001
• − Mortgage interest: −$14,844
• − Property taxes: −$5,421
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$7,709
• Taxable loss: −$4,939
• Est. tax savings @ 24.0%: +$1,185
• After-tax cash flow: $673/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: Hamilton Township Public School District
• NCES district ID: 3406540
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $71,425
• Composite: 27.33/100
• National rank: #6990
• State rank: #338 of 472 in NJ

Livability — Hamilton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Mercerville, NJ
• County: Mercer County · 327,655 people
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 24,089
• Household income: $105,946
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 613.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 14% Two or more races 9% Black 9% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 9% Scotch-Irish 2% Swiss 2%
• Foreign-born: 14% · Canada, China, Guatemala
• Languages at home: 81% English-only · Spanish 9% Other Indo-European 4% Chinese 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: ▼ -551.86%
• Current HPI: 279.9705
• Rent YoY: ▲ 1.60%
• 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

1 event — show timeline

• 2026-06-21 Coming Soon $265,000 BRIGHT MLS

Property tax history

+1.9%/yr

Latest (2025): $5,421 · +5.2% YoY. Source: county tax records.