311 Monroe Ave · Plainfield, NJ 07063-1346

$439,000

4 bd · 2.0 ba · 1,896 sqft · SingleFamily public records · 15 Days on market

Built 1921 0.26 ac lot Est $559k · 22% 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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• Appreciation +5.0/10.0
• DSCR +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Welcome home to this charming 4-bedroom, 2 full bath Cape offering comfort, flexibility, and convenience. The inviting enclosed front porch provides the perfect space for a mudroom, playroom, sitting area, or seasonal entryway. Inside, you'll find a versatile floor plan featuring two spacious bedrooms and a full bath on the first level, ideal for guests, or those seeking first-floor living. The second level offers two additional generously sized bedrooms and a second full bath, providing ample space for everyone. The functional kitchen includes a separate door leading to the backyard, offering easy access for outdoor enjoyment and everyday living. Additional features include 2-zone heating

Key facts

• 0.26 acre lot
• Garage
• Listed 15 days

Property features AI

Exterior

• Parking: Detached on-site garage (1-car); Shared driveway
• Utilities: Natural gas service; Public sewer; Public water
• Home design: Cape Cod style
• Construction: Full unfinished basement
• Exterior features: Vinyl siding; Composition shingle roof; Enclosed porch(es)

Interior

• Kitchen: Separate dining area; Dishwasher; Gas range/oven; Microwave; Refrigerator; Wine refrigerator
• Bedrooms: Two bedrooms on the first floor; Two bedrooms on the second floor
• Flooring: Carpeting; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Multi-zone heating (natural gas); Multi-zone cooling
• Interior features: Enclosed porch; Full unfinished basement with laundry and utility rooms; 7 total rooms
• Laundry & utility: Washer; Dryer; Basement laundry room; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $439k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $407k (7.3% below list).
• Recommended offer: $407k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.3% in Plainfield — 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 65/100 on livability (#384 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-; Watch: crime D+, amenities F, cost of living F.
• Plainfield Public School District (suburban): math 17% / reading 25% proficiency, ranked #588 of 612 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Clinton Elementary School (413 students, 75% FRL); Hubbard Middle School (math 24% / reading 24%, grade F, #365 of 431 statewide, top 86%, 775 students, 91% FRL); Plainfield High School (1,925 students, 78% FRL).
• Market conditions: 1 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,749 units permitted in Union County in 2024 (1,421 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($3k loan paydown + $13k appreciation (3.0% local appreciation)).
• Union County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $123k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $118k; list at $439k implies a 272% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — 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 $406,961 (7.3% below list)

Questions for the listing agent

1. Built in 1921 — 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. 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?
4. Crime grade is D 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?
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: 0.93% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $559,320
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
345 Clinton Ave	0.36mi	3/2.0 (-1)	1,974 (+4%)	2mo	$611,000	$310	70
400 Grant Ave #04	0.28mi	4/3.5	2,069 (+9%)	10mo	$675,000	$326	57
242 Chestnut Ave	0.68mi	4/2.0	1,884 (-1%)	14mo	$587,139	$312	56
525 Pleasant Ave	0.69mi	3/2.0 (-1)	1,932 (+2%)	5mo	$570,000	$295	55
951-55 Myrtle Ave	0.36mi	3/1.5 (-1)	1,720 (-9%)	12mo	$461,000	$268	51
1154 Foster Ave	0.71mi	3/1.0 (-1)	2,024 (+7%)	8mo	$510,000	$252	40
552 Parkview Ave	0.72mi	4/2.0	2,140 (+13%)	12mo	$520,000	$243	35

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: 8.6%
• Equity multiple: 1.49×
• Total profit: $60,577
• Equity at exit: $197,393

10-year hold

• IRR: 11.2%
• Equity multiple: 2.67×
• Total profit: $205,211
• Equity at exit: $304,207

Cash invested: $122,920 (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 07063-1346

• Active inventory: 1
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $4,070 high
• Mortgage (P&I): −$2,302
• Tax from tax record: −$611 /mo · $7,328/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$855
• Net cashflow: $119

Break-even live

Break-even rent $3,919

Max offer price $439,000

Occupancy floor 92%

Sensitivity live

Price	-10% $368	-5% $243	+0% $119	+5% $-5	+10% $-129
Rent	-10% $-202	-5% $-42	+0% $119	+5% $280	+10% $441
Rate	-1.0pp $340	-0.5pp $231	base $119	+0.5pp $5	+1.0pp $-110

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: $109,750
• Closing costs: $13,170
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Lafayette Pl Plainfield, NJ	5.0	3.0	2352	$4,100	$1.74	4d	1	0.51mi
925 Plainfield Ave Plainfield, NJ	3.0	1.5	2500	$3,800	$1.52	17d	1	0.87mi
1824 Eganey St South Plainfield, NJ	4.0	1.5	1350	$3,400	$2.52	4d	1	1.06mi
208 W 7th St Unit 3 Plainfield, NJ	3.0	2.0	1400	$3,699	$2.64	0d	1	1.14mi
707 Station Rd Dunellen, NJ	3.0	2.5	2090	$4,750	$2.27	4d	1	1.41mi
707 Station Rd Dunellen, NJ	3.0	2.5	2090	$4,750	$2.27	0d	1	1.41mi

Listing history 11 events

1. 2026-06-21
   days on market $439,000 Active 15 DOM
2. 2026-06-18
   days on market $439,000 Active 12 DOM
3. 2026-06-17
   days on market $439,000 Active 11 DOM
4. 2026-06-16
   days on market $439,000 Active 10 DOM
5. 2026-06-15
   days on market $439,000 Active 9 DOM
6. 2026-06-13
   days on market $439,000 Active 7 DOM
7. 2026-06-09
   days on market $439,000 Active 3 DOM
8. 2026-06-08
   days on market $439,000 Active 2 DOM
9. 2026-06-07
   status $439,000 Active 1 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $439,000 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: $7,328 · $611/mo
• Projected year-2 tax: $9,130 · $761/mo
• Expected delta: +$1,801/yr (+$150/mo · 24.6%)

ⓘ 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 7/10 Severe 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,835
• − Mortgage interest: −$24,591
• − Property taxes: −$7,328
• − Insurance: −$2,195
• − Repairs & maintenance: −$3,907
• − Management: −$3,907
• − Depreciation: −$12,771
• Taxable loss: −$5,863
• Est. tax savings @ 24.0%: +$1,407
• After-tax cash flow: $2,838/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: Plainfield Public School District
• NCES district ID: 3413140
• Math proficiency: 17% ▲ 1.00%
• Reading proficiency: 25% ▲ 1.00%
• Median HH income: $52,983
• Composite: 22.21/100
• National rank: #13512
• State rank: #588 of 612 in NJ

Livability — Plainfield

• Score: 65/100
• State rank: #384
• US rank: #13086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainfield, NJ

Population outlook (Union County) Hauer SSP2

• Today (2025): 596,450 people
• By 2030: 616,880 · +3.4%
• By 2040: 658,185 · +10.4%
• By 2050: 696,707 · +16.8%
• By 2075: 785,448 · +31.7%
• By 2100: 836,583 · +40.3%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+1691.8% since first listed

4 events — show timeline

• 2026-06-03 Coming Soon $439,000 GSMLS
• 2018-08-02 Sold (Public Records) $118,000 Public Records
• 2018-07-31 Sold (MLS) $118,000 GSMLS
• 1974-07-01 Sold (Public Records) $24,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $7,328 · +2.2% YoY. Source: county tax records.