256-258-258 Sinnickson St · Salem, NJ 08079

$182,500

6 bd · 2.0 ba · 1,898 sqft · Townhouse public records · 43 Days on market

Built 1920 2,613 sqft lot Est $190k · at est.

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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 +25.3/30.0
• ARV discount +9.2/15.0
• DSCR +8.4/10.0
• 1% rule +7.3/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Prime investment opportunity in the heart of Salem! This side-by-side duplex at 256–258 Sinnickson St offers two generously sized units, each with strong income potential and versatility for both investors and owner-occupants alike. Recently renovated throughout, both units showcase modern upgrades, updated finishes, and are completely move-in ready. Each side features a practical layout with its own private entrance, providing the perfect setup to generate rental income or occupy one unit while leasing the other. Conveniently situated near schools, shopping, public transportation, and major highways, the location supports steady rental demand and future appreciation. Whether you&rsqu

Key facts

• Move-in ready
• Side-by-side duplex
• Updated finishes

Tags

• INVESTMENT OPPORTUNITY
• SIDE-BY-SIDE DUPLEX
• STRONG INCOME POTENTIAL
• PRIVATE ENTRANCE
• UPDATED FINISHES
• MOVE-IN READY

Property features AI

Finance

• Other: Finished above-grade area approximately 1,898
• Financial info: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Natural gas heating and hot water; Public water; Public sewer
• Home design: Semi-detached property; Estimated year built
• Construction: Wood siding; Other type foundation; Above-grade and below-grade structures
• Exterior features: Sidewalks

Interior

• Bedrooms: Three bedrooms on the main level; Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms total (one full on main level, one full on first upper level)
• Heating & cooling: 90% forced air heating; Natural gas hot water
• Interior features: Full basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $182k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Recommended offer: $177k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John Fenwick Academy (411 students, 77% FRL).
• Market conditions: 100 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,250/mo this rent would consume 49% of the median local household income ($55k/yr) (locally 663% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $568 of equity ($1k loan paydown + $-694 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $51k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y 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 $110k; list at $182k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,025 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1920 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.23% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.79%
• DSCR: 1.44
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $189,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Eighth St	0.56mi	5/1.5 (-1)	1,894 (-0%)	11mo	$190,000	$100	58
15 Oak St	0.45mi	5/2.0 (-1)	2,014 (+6%)	23mo	$130,000	$65	44
120 8th St	0.42mi	5/1.5 (-1)	1,660 (-12%)	11mo	$160,000	$96	43
62 8th St	0.56mi	5/1.5 (-1)	1,797 (-5%)	20mo	$190,000	$106	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.35×
• Total profit: $18,070
• Equity at exit: $49,549

10-year hold

• IRR: 13.1%
• Equity multiple: 2.38×
• Total profit: $70,657
• Equity at exit: $56,878

Cash invested: $51,100 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$957
• Tax from tax record: −$328 /mo · $3,934/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $417

Break-even live

Break-even rent $1,723

Max offer price $182,500

Occupancy floor 76%

Sensitivity live

Price	-10% $520	-5% $469	+0% $417	+5% $365	+10% $314
Rent	-10% $239	-5% $328	+0% $417	+5% $506	+10% $595
Rate	-1.0pp $509	-0.5pp $463	base $417	+0.5pp $370	+1.0pp $321

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $182,500 Active 43 DOM
2. 2026-06-17
   days on market $182,500 Active 42 DOM
3. 2026-06-16
   days on market $182,500 Active 41 DOM
4. 2026-06-16
   price $182,500 Active 40 DOM
5. 2026-06-15
   days on market $185,000 Active 40 DOM
6. 2026-06-13
   days on market $185,000 Active 38 DOM
7. 2026-06-13
   days on market $185,000 Active 37 DOM
8. 2026-06-09
   days on market $185,000 Active 34 DOM
9. 2026-06-08
   days on market $185,000 Active 33 DOM
10. 2026-06-07
    days on market $185,000 Active 32 DOM
11. 2026-06-04
    days on market $185,000 Active 29 DOM
12. 2026-06-03
    days on market $185,000 Active 28 DOM
13. 2026-06-02
    days on market $185,000 Active 27 DOM
14. 2026-06-01
    days on market $185,000 Active 26 DOM
15. 2026-05-31
    days on market $185,000 Active 25 DOM
16. 2026-05-06
    listed $185,000 Active
17. 2026-04-25
    historical
18. 2026-04-24
    listed $190,000 Active
19. 2016-10-15
    historical
20. 2016-07-07
    listed $9,200
21. 2016-06-01
    historical
22. 2016-03-01
    listed $10,200
23. 2015-12-21
    historical
24. 2015-09-22
    listed $10,200
25. 2013-12-31
    historical
26. 2013-03-25
    listed $25,000
27. 2012-06-13
    historical
28. 2011-11-12
    listed $29,900
29. 2008-01-18
    soldstatus $110,000
30. 2004-11-17
    soldstatus $25,000

ⓘ 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: $3,934 · $328/mo
• Projected year-2 tax: $4,239 · $353/mo
• Expected delta: +$305/yr (+$25/mo · 7.8%)

ⓘ 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) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,005
• − Mortgage interest: −$10,223
• − Property taxes: −$3,934
• − Insurance: −$912
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − Depreciation: −$5,309
• Taxable income: $2,305
• Est. tax owed @ 24.0%: −$553
• After-tax cash flow: $4,449/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: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+640.0% since first listed

15 events — show timeline

• 2026-05-06 Listed $185,000 BRIGHT MLS
• 2026-04-25 Listing Removed — BRIGHT MLS
• 2026-04-24 Listed $190,000 BRIGHT MLS
• 2016-10-15 Listing Removed — BRIGHT MLS
• 2016-07-07 Listed $9,200 BRIGHT MLS
• 2016-06-01 Listing Removed — BRIGHT MLS
• 2016-03-01 Listed $10,200 BRIGHT MLS
• 2015-12-21 Listing Removed — BRIGHT MLS
• 2015-09-22 Listed $10,200 BRIGHT MLS
• 2013-12-31 Listing Removed — BRIGHT MLS
• 2013-03-25 Listed $25,000 BRIGHT MLS
• 2012-06-13 Listing Removed — BRIGHT MLS
• 2011-11-12 Listed $29,900 BRIGHT MLS
• 2008-01-18 Sold (Public Records) $110,000 Public Records
• 2004-11-17 Sold (Public Records) $25,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $3,934 · +4.9% YoY. Source: county tax records.