1107 Mrtn King Jr · Trenton, NJ 08638

$155,000

3 bd · 1.0 ba · 1,157 sqft · Townhouse public records · 15 Days on market

Built 1929 3,001 sqft lot Est $208k · 26% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Check out this great opportunity! Three bedrooms, 1 bathroom with a full finished attic, easily converted into additional living space. Parking is a standout feature — long private driveway is tough to come by on this street. Strictly AS-IS. Buyer is responsible for the CO, any and all municipal inspections, certs, permits, etc. No repairs, no credits. Special treat - This property can be purchased together with 1103 Martin Luther King Blvd — a rare opportunity to grab two properties at once on the same block. This is an estate sale.

Key facts

• Garage
• Full finished attic
• Garage

Tags

• FULL FINISHED ATTIC
• LONG PRIVATE DRIVEWAY
• GARAGE

Property features AI

Exterior

• Parking: Detached garage with one garage space; Driveway
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Semi-detached property; Above-grade finished living area recorded by assessor
• Construction: Brick construction; Brick/mortar foundation; Other structures both above grade and below grade
• Exterior features: Lot dimensions approximately 30 x 100; No tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Radiator heating; Natural gas heating and hot water
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $155k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% 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: Dr. Martin Luther King Jr. Elementary School (math 3% / reading 6%); Luis Munoz-Rivera Ms (math 2% / reading 20%); 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 (+3.3%/yr); 83 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 41% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $155k implies a 533% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $152,675 (1.5% below list)

Questions for the listing agent

1. Built in 1929 — 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 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?
4. 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?
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: 1.46% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.30%
• DSCR: 1.81
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $208,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Phillips Ave	0.07mi	2/1.0 (-1)	1,158 (+0%)	1mo	$230,000	$199	91
23 Cain Ave	0.24mi	3/1.0	1,102 (-5%)	8mo	$120,000	$109	74
535 Brunswick Ave	0.26mi	3/2.0	1,223 (+6%)	4mo	$200,000	$164	71
1314 Princeton Ave	0.22mi	4/1.5 (+1)	1,092 (-6%)	4mo	$173,730	$159	69
55 Heil Ave	0.29mi	4/2.0 (+1)	1,200 (+4%)	8mo	$224,999	$187	65
629 Ohio Ave	0.42mi	4/1.0 (+1)	1,044 (-10%)	1mo	$252,000	$241	58
135 Fountain Ave	0.61mi	3/1.5	1,086 (-6%)	2mo	$195,000	$180	58
813 Spruce St	0.53mi	3/1.5	1,062 (-8%)	6mo	$225,000	$212	54
1242 N Olden Ave	0.44mi	4/2.0 (+1)	1,290 (+12%)	6mo	$167,000	$129	46
50 Kelsey Ave	0.66mi	3/1.0	1,291 (+12%)	7mo	$200,000	$155	44
119 Wayne Ave	0.51mi	4/1.5 (+1)	1,318 (+14%)	6mo	$170,000	$129	41
1542 Princeton Ave	0.49mi	4/2.0 (+1)	1,330 (+15%)	5mo	$305,000	$229	39

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.41×
• Total profit: $17,818
• Equity at exit: $23,111

10-year hold

• IRR: 19.7%
• Equity multiple: 2.68×
• Total profit: $73,013
• Equity at exit: $13,402

Cash invested: $43,400 (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 08638

• Rents YoY: 3.3%
• Active inventory: 83
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,268 high
• Mortgage (P&I): −$813
• Tax from tax record: −$253 /mo · $3,033/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $662

Break-even live

Break-even rent $1,431

Max offer price $155,000

Occupancy floor 66%

Sensitivity live

Price	-10% $750	-5% $706	+0% $662	+5% $618	+10% $574
Rent	-10% $483	-5% $572	+0% $662	+5% $751	+10% $841
Rate	-1.0pp $740	-0.5pp $701	base $662	+0.5pp $622	+1.0pp $581

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	15d	1	0.20mi
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	22d	1	0.26mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	15d	1	0.42mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	15d	1	0.43mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	22d	1	0.45mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	15d	1	0.46mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	22d	1	0.62mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	22d	1	0.67mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	15d	1	0.75mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	15d	1	0.80mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	22d	1	0.93mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	22d	1	0.97mi
8 Belvidere St Trenton, NJ	2.0	1.0	1260	$1,900	$1.51	22d	1	0.99mi
319 Rutherford Ave Trenton, NJ	4.0	2.0	1100	$2,200	$2.00	22d	1	1.02mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	22d	1	1.03mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	15d	2	1.07mi
1001 Pennington Rd Unit 1-2B Ewing Township, NJ	2.0	1.0	700	$1,200	$1.71	22d	1	1.08mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	22d	1	1.11mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	22d	1	1.12mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	1.12mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	22d	1	1.14mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	22d	1	1.15mi
27 Passaic St Trenton, NJ	2.0	1.0	900	$1,700	$1.89	22d	1	1.17mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	22d	1	1.19mi
311 Spring St Trenton, NJ	3.0	1.0	1200	$2,200	$1.83	15d	1	1.24mi
186 Passaic St Trenton, NJ	3.0	2.0	1064	$2,400	$2.26	6d	1	1.25mi
600 Artisan St Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	14d	3	1.32mi
600 Artisan St Unit 126 Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	22d	1	1.32mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	15d	1	1.34mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	22d	1	1.42mi
550 Lawrenceville Rd Lawrence Township, NJ	1.0–2.0	1.0	910	$1,655	$1.82	22d	1	1.48mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	15d	1	1.49mi

Listing history 3 events

1. 2026-06-16
   status $155,000 Pending 15 DOM
2. 2026-05-08
   listed $155,000 Active
3. 1982-11-01
   soldstatus $24,500

ⓘ 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: $3,033 · $253/mo
• Projected year-2 tax: $3,446 · $287/mo
• Expected delta: +$413/yr (+$34/mo · 13.6%)

ⓘ 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 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: $27,221
• − Mortgage interest: −$8,682
• − Property taxes: −$3,033
• − Insurance: −$775
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − Depreciation: −$4,509
• Taxable income: $5,866
• Est. tax owed @ 24.0%: −$1,408
• After-tax cash flow: $6,535/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): 22,816
• Household income: $66,875
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1185.0

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 0.68)
• Race & ethnicity: Black 43% White 31% Hispanic / Latino 21% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 2% Iranian 1%
• Foreign-born: 24% · Canada, Guatemala, China
• Languages at home: 76% English-only · Spanish 17% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -286.00%
• Current HPI: 334.5143
• Rent YoY: ▲ 3.31%
• 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

+532.7% since first listed

2 events — show timeline

• 2026-05-08 Listed $155,000 BRIGHT MLS
• 1982-11-01 Sold (Public Records) $24,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $3,033 · +1.5% YoY. Source: county tax records.