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6115 Buchanan Pl #2 🏷️ Likely Rental
C- Composite 53.22
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 +13.0/30.0
  • Appreciation +5.0/10.0
  • Condition / age +4.0/5.0
  • DSCR +3.9/10.0
  • Livability +3.9/5.0
  • 1% rule +3.7/10.0
  • Rent growth +2.5/5.0
  • Schools +2.3/10.0

$969,000

6115 Buchanan Pl #2 · West New York, NJ 07093-2914
3 bd · 2.5 ba · 3,750 sqft · MultiFamily · 190 Days on market
Built 1909 Good condition 3,920 sqft lot $258/sqft · 24% below area Est $1.268M · 24% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Property offers 10"15 parking spaces, making it a strong investment or redevelopment opportunity. Prime Hudson County location just minutes from NYC with direct bus access and close proximity to the Lincoln Tunnel. Surrounded by active redevelopment and rising property values, with strong rental and condo demand from NYC commuters. Walkable to Bergenline Avenue retail, dining, and transit. Area transitioning from low-rise to higher-density growth. Rear tenant pays $5,000 per month for parking and requires 30"60 days to relocate vehicles.

Key facts

  • Strong rental demand
  • Direct bus access
  • Active redevelopment

Tags

HUDSON COUNTY LOCATIONDIRECT BUS ACCESSWALKABLE TO BERGENLINE AVENUEACTIVE REDEVELOPMENTSTRONG RENTAL DEMANDSTRONG CONDO DEMAND

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏷️ Possibly a rental listed for sale. The $969,000 price doesn't fit this home's estimated sale value (~$1,268,261) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

  • This is a 3-bed/2.5-bath multifamily listed at $969k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-57 ($-689/yr) — negative.
  • To cash-flow at today's rent, offer at most $961k (0.9% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $840k (13.3% below list).
  • Recommended offer: $840k (13.3% below list) — sets the bar for 1% rule.
  • Cap rate 6.2% vs local median 1.9% in West New York — 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 (#119 in NJ, #3,034 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: cost of living F.
  • West New York Board Of Education (suburban): math 10% / reading 34% proficiency, ranked #420 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
  • Zoned schools: Harry L Bain (math 7% / reading 26%, grade F, #1,094 of 1,303 statewide, top 85%, 650 students, 82% FRL); West New York Middle School (math 8% / reading 41%, grade F, #365 of 431 statewide, top 86%, 1,096 students, 87% FRL); Memorial High School (math 15% / reading 43%, grade F, #298 of 399 statewide, top 75%, 2,251 students, 80% FRL).
  • Market conditions: 1 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 49d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).

Forward outlook

  • In year one you build about $36k of equity ($7k loan paydown + $29k appreciation (3.0% local appreciation)).
  • Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
  • At projected returns (3.0% appreciation + 3.0% rent growth), your $271k cash investment doubles in ~7 years — after that, you're playing with house money.
  • By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

  • It's been on market 190 days — a 12% lower offer ($853k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: built in 1909 — 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 $840,400 (13.3% 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. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
  3. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  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 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
0.87%
Cap rate
6.22%
Cash-on-cash
-0.25%
DSCR
0.99
GRM
9.6

CMA / ARV

ARV (median comp)
$1,268,261
List price
$969,000
Delta
-23.60%
Verdict
UNDERPRICED
Comps
3 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
8707 Churchill Rd 1.33mi 3/2.5 3,611 (-4%) 4mo $1,220,000 $338 55
8709 CHURCHILL Rd 1.33mi 3/2.5 3,871 (+3%) 15mo $1,175,000 $304 47
8715 CHURCHILL Rd 1.34mi 3/2.5 3,575 (-5%) 27mo $1,275,000 $357 37
9 SOMERSET Ln Ph 606-607 1.37mi 4/4.0 (+1) 4,180 (+12%) 11mo $2,448,000 $586 26
1000 AVENUE AT PORT IMPERIAL Unit TH104 0.96mi 4/4.5 (+1) 4,000 (+7%) 20mo $3,200,000 $800 24
7--9 CLIFTON Ter 1.04mi 4/4.0 (+1) 2,816 (-25%) 13mo $1,850,000 $657 18
TH1 OXFORD Lndg 1.40mi 4/4.0 (+1) 3,050 (-19%) 14mo $2,525,000 $828 17
62 ETON Row 1.47mi 3/3.5 3,020 (-20%) 24mo $3,000,000 $993 16
245 W 74th St Unit MAIS-1A 1.47mi 4/2.5 (+1) 3,192 (-15%) 26mo $760,000 $238 15
120 36th St Unit 1-A 1.32mi 4/2.5 (+1) 2,912 (-22%) 27mo $575,000 $197 15
9 SOMERSET Ln Ph 615-616 1.37mi 4/4.0 (+1) 3,000 (-20%) 26mo $2,400,000 $800 9
3 OXFORD Lndg 1.40mi 4/5.0 (+1) 3,148 (-16%) 20mo $2,300,000 $731 8

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
7.3%
Equity multiple
1.42×
Total profit
$113,202
Equity at exit
$435,704
10-year hold
IRR
10.0%
Equity multiple
2.51×
Total profit
$408,437
Equity at exit
$671,472

Cash invested: $271,320 (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.

ZIP-level market 07093-2914

Active inventory
1
Price-to-rent
19.2×

Monthly cashflow live

Estimated rent
$8,404 high interval (Pro) →
Mortgage (P&I)
$5,082
Tax est. 1.5%
$1,211 /mo · $14,535/yr
Insurance
$404
HOA
$0
Vacancy / Maint / Mgmt
$1,765
Net cashflow
$-57

2-unit breakdown (identical units grouped — click to expand)

UnitsBedsBathsEst. rent
Total (2 units) $8,404

Break-even live

Break-even rent $8,477
Max offer price $960,697
Occupancy floor 96%

Sensitivity live

Price -10% $612 -5% $277 +0% $-57 +5% $-392 +10% $-727
Rent -10% $-721 -5% $-389 +0% $-57 +5% $275 +10% $607
Rate -1.0pp $431 -0.5pp $189 base $-57 +0.5pp $-308 +1.0pp $-564

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
$242,250
Closing costs
$29,070
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
6100 Broadway Unit 1 West New York, NJ 2.0 1.0 $2,000 35d 1 0.04mi
121 62nd St Unit 1 West New York, NJ 2.0 1.0 $2,700 84d 1 0.04mi
153 61st St Unit 2nd fl West New York, NJ 3.0 2.0 $2,550 103d 1 0.05mi
110 61st St West New York, NJ 2.0 1.0 750 $1,950 $2.60 11d 1 0.06mi
6111 Park Ave Unit 1B West New York, NJ 3.0 1.5 950 $2,950 $3.11 11d 1 0.07mi
6107 Park Ave #4 West New York, NJ 2.0 1.0 $2,800 89d 1 0.08mi
6119 Park Ave Apt B4 West New York, NJ 2.0 1.0 750 $2,150 $2.87 74d 1 0.08mi
6119 Park Ave Apt E2 West New York, NJ 2.0 1.0 800 $2,100 $2.62 61d 1 0.08mi
6105 Park Ave Unit 2 West New York, NJ 3.0 2.0 $3,480 18d 1 0.08mi
217 62nd St Unit 2 West New York, NJ 3.0 1.0 $2,800 120d 1 0.08mi
6035 Park Ave West New York, NJ 1.0–2.0 1.0–2.0 847 $3,295 $3.89 0d 9 0.10mi
6308 Broadway Unit 5 West New York, NJ 2.0 1.0 800 $2,150 $2.69 47d 1 0.11mi
119 64th St Unit 2 West New York, NJ 3.0 1.0 950 $2,500 $2.63 120d 1 0.13mi
103 Westover Pl #6 West New York, NJ 3.0 1.0 1010 $2,650 $2.62 74d 1 0.13mi
103 Westover Pl #6 West New York, NJ 3.0 1.0 1010 $2,650 $2.62 43d 1 0.13mi
103 Westover Pl #6 West New York, NJ 3.0 1.0 1010 $2,650 $2.62 11d 1 0.13mi
103 Westover Pl #6 West New York, NJ 3.0 1.0 1010 $2,650 $2.62 50d 1 0.13mi
124 64th St Unit 2 West New York, NJ 2.0 1.0 1000 $2,100 $2.10 63d 1 0.14mi
6020 Hudson Ave West New York, NJ 2.0 2.0 1230 $3,350 $2.72 64d 1 0.15mi
6025 JFK Blvd E Unit 407 West New York, NJ 2.0 1.0 988 $3,450 $3.49 103d 1 0.16mi
6025 Boulevard E #401 West New York, NJ 2.0 2.0 1071 $3,500 $3.27 18d 1 0.16mi
119 60th St Unit 10 West New York, NJ 2.0 1.0 $2,200 48d 1 0.16mi
119 60th St Apt 12 West New York, NJ 2.0 1.0 $2,000 120d 1 0.16mi
6114 Monroe Pl Unit 2 West New York, NJ 4.0 1.0 $3,000 106d 1 0.16mi
125 65th St Unit 1 West New York, NJ 3.0 1.0 1278 $2,600 $2.03 5d 1 0.17mi
51 64th St #2 West New York, NJ 3.0 1.0 $3,300 6d 1 0.17mi
6404 Park Ave Unit 35 West New York, NJ 2.0 1.0 $2,300 80d 1 0.18mi
6002 Hudson Ave Unit 3 West New York, NJ 3.0 1.0 900 $2,475 $2.75 11d 1 0.18mi
6412 Park Ave Unit 5E West New York, NJ 2.0 1.0 $2,200 84d 1 0.19mi
6412 Park Ave Unit 4D West New York, NJ 2.0 1.0 $2,200 22d 1 0.19mi
160 59th St Unit B100 West New York, NJ 3.0 1.0 $2,400 12d 1 0.19mi
160 59th St Unit C1 West New York, NJ 2.0 1.0 $2,100 12d 1 0.19mi
39 64th St Unit 3 West New York, NJ 3.0 1.0 1500 $2,500 $1.67 4d 1 0.20mi
26 62nd St Unit 1 West New York, NJ 2.0 1.0 $2,450 6d 1 0.20mi
39 64th St Unit 2 West New York, NJ 3.0 1.0 $2,990 49d 1 0.20mi
39 64th St Unit 2 West New York, NJ 3.0 1.0 1500 $2,600 $1.73 4d 1 0.20mi
304 60th St Unit 4 West New York, NJ 3.0 1.0 $2,595 120d 1 0.20mi
6114 Highland Pl Unit 1B West New York, NJ 2.0 1.0 $2,300 90d 1 0.20mi
6114 Highland Pl Unit 1B West New York, NJ 2.0 1.0 700 $2,300 $3.29 7d 1 0.20mi
37 64th St #2 West New York, NJ 3.0 1.0 $2,650 51d 1 0.20mi

Property features AI

Finance

Financial info
2 total unitsReported gross operating income: 11,400,000Reported total operating expenses: 300Net operating income reported as 0Expenses include hot and cold waterUnit 1 rent: 1500 with $3,000 security depositUnit 2 rent: 3000 with $6,000 security deposit

Exterior

Parking
Approximately 15 parking spacesBlacktop surface parking lot (exclusive)
Security
Carbon monoxide detectors and smoke detectors in units
Utilities
Electric serviceNatural gasPublic waterPublic sewer
Home design
Two-story buildingBeige exterior colorFlat roof
Construction
Aluminum and vinyl sidingHas home warranty
Exterior features
Metal fence, partially fenced yardSidewalk

Interior

Kitchen
Unit 1: Dishwasher, Electric range/oven, Gas range/oven, RefrigeratorUnit 2: Dishwasher, Microwave, Electric range/oven, Gas range/oven, Refrigerator
Bedrooms
Unit 1: 2 bedroomsUnit 2: 1 bedroom
Flooring
Vinyl/linoleum floors
Bathrooms
2 full bathrooms1 half bathroomUnit 1: 1 bathroomUnit 2: 1 bathroomUnit 3: 1 half bathroom
Heating & cooling
Two heating units (natural gas)Two cooling units
Interior features
BlindsCarbon monoxide detectorFire extinguisherSmoke detectorVinyl/linoleum floorsWalk-in closetElectric and gas water heatersBasement with Bilco-style door (unfinished)
Laundry & utility
Unit 2: Laundry roomTenant pays electric, gas, and heat for each unit

Listing history 50 events

  1. 2026-08-31
    days on market $969,000 Active 190 DOM
  2. 2026-08-29
    days on market $969,000 Active 188 DOM
  3. 2026-08-28
    days on market $969,000 Active 187 DOM
  4. 2026-08-27
    days on market $969,000 Active 186 DOM
  5. 2026-08-25
    days on market $969,000 Active 184 DOM
  6. 2026-08-24
    days on market $969,000 Active 183 DOM
  7. 2026-08-23
    days on market $969,000 Active 182 DOM
  8. 2026-08-22
    days on market $969,000 Active 181 DOM
  9. 2026-08-21
    days on market $969,000 Active 180 DOM
  10. 2026-08-20
    days on market $969,000 Active 179 DOM
  11. 2026-08-19
    days on market $969,000 Active 178 DOM
  12. 2026-08-18
    days on market $969,000 Active 177 DOM
  13. 2026-08-17
    days on market $969,000 Active 176 DOM
  14. 2026-08-16
    days on market $969,000 Active 175 DOM
  15. 2026-08-15
    days on market $969,000 Active 174 DOM
  16. 2026-08-14
    days on market $969,000 Active 173 DOM
  17. 2026-08-13
    days on market $969,000 Active 172 DOM
  18. 2026-08-12
    days on market $969,000 Active 171 DOM
  19. 2026-08-11
    days on market $969,000 Active 170 DOM
  20. 2026-08-10
    days on market $969,000 Active 169 DOM
  21. 2026-08-09
    days on market $969,000 Active 168 DOM
  22. 2026-08-08
    days on market $969,000 Active 167 DOM
  23. 2026-08-06
    days on market $969,000 Active 165 DOM
  24. 2026-08-05
    days on market $969,000 Active 164 DOM
  25. 2026-08-04
    days on market $969,000 Active 163 DOM
  26. 2026-08-03
    days on market $969,000 Active 162 DOM
  27. 2026-07-31
    days on market $969,000 Active 159 DOM
  28. 2026-07-30
    days on market $969,000 Active 157 DOM
  29. 2026-07-28
    days on market $969,000 Active 156 DOM
  30. 2026-07-26
    days on market $969,000 Active 154 DOM
  31. 2026-07-24
    days on market $969,000 Active 152 DOM
  32. 2026-07-23
    days on market $969,000 Active 151 DOM
  33. 2026-07-22
    days on market $969,000 Active 150 DOM
  34. 2026-07-21
    days on market $969,000 Active 149 DOM
  35. 2026-07-20
    days on market $969,000 Active 148 DOM
  36. 2026-07-18
    days on market $969,000 Active 146 DOM
  37. 2026-07-18
    days on market $969,000 Active 145 DOM
  38. 2026-07-16
    days on market $969,000 Active 144 DOM
  39. 2026-07-15
    days on market $969,000 Active 143 DOM
  40. 2026-07-14
    days on market $969,000 Active 142 DOM
  41. 2026-07-13
    days on market $969,000 Active 141 DOM
  42. 2026-07-13
    days on market $969,000 Active 140 DOM
  43. 2026-07-11
    days on market $969,000 Active 139 DOM
  44. 2026-07-10
    days on market $969,000 Active 138 DOM
  45. 2026-07-09
    days on market $969,000 Active 137 DOM
  46. 2026-07-07
    days on market $969,000 Active 135 DOM
  47. 2026-07-06
    days on market $969,000 Active 134 DOM
  48. 2026-07-06
    days on market $969,000 Active 133 DOM
  49. 2026-07-05
    days on market $969,000 Active 132 DOM
  50. 2026-07-03
    days on market $969,000 Active 131 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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 7/10 Severe 7 d/yr ≥99°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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$100,848
− Mortgage interest
−$54,279
− Property taxes
−$14,535
− Insurance
−$4,845
− Repairs & maintenance
−$8,068
− Management
−$8,068
− Depreciation
−$28,189
Taxable loss
−$17,136
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$4,113
After-tax cash flow
$3,424/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $18,750–$56,250 screening

The property is in good condition with modern updates and minimal maintenance required. It offers strong investment potential in a prime location with rising property values.

Value-add opportunities

  • Both Landscaping and curb appeal improvements — Enhanced landscaping can improve both resale and rental value.
  • Both Painting exterior and interior walls — Fresh paint can make the property more appealing and increase its value.

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 23/100

Zoned Schools

Elementary Harry L Bain F NJ #1,094/1,303 Nat'l #35,887/41,679 Middle West New York Middle School F NJ #365/431 Nat'l #10,474/14,009 High Memorial High School F NJ #298/399 Nat'l #11,621/17,239

Schools (NCES district)

District
West New York Board Of Education
NCES district ID
3417580
Math proficiency
10% ▼ -19.00%
Reading proficiency
34% ▼ -9.00%
Median HH income
$46,745
Composite
19.16/100
National rank
#8824
State rank
#420 of 472 in NJ
B Composite livability gradescore 77/100

Livability — West New York

Score
77/100
State rank
#119
US rank
#3034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
West New York, NJ

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%

Not yet ingested

Political lean
Race & ethnicity
Common origin
Civics

Price history

1 event — show timeline
  • 2026-02-22 Listed $969,000 GSMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…