99 Chestnut St · Salem, NJ 08079

$125,000

3 bd · 1.0 ba · 1,032 sqft · Townhouse public records · 31 Days on market

Built 1925 2,165 sqft lot Est $136k · 8% 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 +27.5/30.0
• ARV discount +11.2/15.0
• DSCR +9.6/10.0
• 1% rule +7.7/10.0
• 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

99 Chestnut St is being offered individually, providing a great opportunity for investors or owner-occupants alike. This 3-bedroom, 1-bath home offers strong potential with a traditional layout, generous living space, and solid structural bones ready for your vision and improvements. Whether you're looking to renovate for increased rental income, add value through cosmetic updates, or customize the home as a primary residence, the possibilities are endless. Located within Salem’s redevelopment area, the property stands to benefit from ongoing revitalization and future growth throughout the neighborhood. With long-term upside potential and flexibility, 99 Chestnut St is an excellent op

Key facts

• Built 1925
• Listed 31 days

Tags

• GENEROUS LIVING SPACE
• SOLID STRUCTURAL BONES

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service available; Natural gas available; Cable TV available; Natural gas hot water
• Home design: Semi-detached property; Main entrance faces west; Entry level is 1; Urban location
• Construction: Aluminum siding; Brick/mortar foundation; Above- and below-grade structures; Year built estimated; major renovation effective 2025
• Exterior features: Front yard; Rear yard; Property located in a federal flood zone

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two bedrooms on the first upper level; One bedroom on the second upper level
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Radiator heat; Natural gas heating and hot water
• Interior features: Open floor plan; Dining area; Kitchen with eat-in space; Carpeted areas
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (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: schools D, amenities F, commute 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.
• Market conditions: 100 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $389 of equity ($864 loan paydown + $-475 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y 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 $69k; list at $125k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.68%
• DSCR: 1.56
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $136,224
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
183 E Broadway Unit C-8	0.28mi	3/—	967 (-6%)	2mo	$60,000	$62	75
229 Sinnickson St	0.27mi	3/1.0	888 (-14%)	7mo	$105,000	$118	59
14 Church St	0.29mi	3/2.0	1,080 (+5%)	23mo	$149,900	$139	56
183 E Broadway	0.28mi	2/1.0 (-1)	888 (-14%)	7mo	$118,000	$133	53
284 Morrison Ave	0.53mi	3/1.0	1,176 (+14%)	1mo	$155,000	$132	51
286 Morrison Ave	0.53mi	2/1.0 (-1)	1,176 (+14%)	1mo	$35,000	$30	46
311 E Broadway	0.41mi	2/1.0 (-1)	1,168 (+13%)	24mo	$83,000	$71	34
106 Eighth St	0.59mi	4/2.0 (+1)	1,170 (+13%)	10mo	$154,500	$132	33

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: 8.3%
• Equity multiple: 1.39×
• Total profit: $13,536
• Equity at exit: $33,938

10-year hold

• IRR: 13.8%
• Equity multiple: 2.46×
• Total profit: $50,939
• Equity at exit: $38,958

Cash invested: $35,000 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,592 high
• Mortgage (P&I): −$656
• Tax from tax record: −$180 /mo · $2,166/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $303

Break-even live

Break-even rent $1,208

Max offer price $125,000

Occupancy floor 76%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Walnut St Unit A Salem, NJ	2.0	1.0	1000	$1,225	$1.23	1d	1	0.24mi
218 Sinnickson St Salem, NJ	2.0	1.0	1008	$1,500	$1.49	1d	1	0.27mi
56 Olive St Salem, NJ	2.0	1.0	700	$1,200	$1.71	1d	1	0.37mi
1 9th St Salem, NJ	2.0	1.0	900	$1,450	$1.61	1d	1	0.42mi
242 Grant St Unit 1ST FLOOR Salem, NJ	2.0	1.0	925	$1,675	$1.81	1d	1	0.50mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	1d	1	0.63mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	1d	1	0.72mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	3d	1	0.72mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	2d	1	0.86mi
124 Yorke St Unit 2BR Salem, NJ	2.0	1.0	750	$1,400	$1.87	10d	1	0.86mi

Listing history 40 events

1. 2026-06-18
   days on market $125,000 Active 31 DOM
2. 2026-06-17
   days on market $125,000 Active 30 DOM
3. 2026-06-16
   days on market $125,000 Active 29 DOM
4. 2026-06-16
   price $125,000 Active 28 DOM
5. 2026-06-15
   days on market $130,000 Active 28 DOM
6. 2026-06-13
   days on market $130,000 Active 26 DOM
7. 2026-06-13
   days on market $130,000 Active 25 DOM
8. 2026-06-09
   days on market $130,000 Active 22 DOM
9. 2026-06-08
   days on market $130,000 Active 21 DOM
10. 2026-06-07
    days on market $130,000 Active 20 DOM
11. 2026-06-04
    days on market $130,000 Active 17 DOM
12. 2026-06-03
    days on market $130,000 Active 16 DOM
13. 2026-06-02
    days on market $130,000 Active 15 DOM
14. 2026-06-01
    days on market $130,000 Active 14 DOM
15. 2026-05-31
    days on market $130,000 Active 13 DOM
16. 2026-05-17
    status Pending
17. 2026-05-06
    listed $130,000 Active
18. 2026-04-25
    historical
19. 2026-04-24
    listed $235,000 Active
20. 2026-02-02
    historical $1,450
21. 2026-01-31
    price $1,450
22. 2025-12-17
    listed $1,550
23. 2025-12-05
    historical $1,550
24. 2025-12-03
    listed $1,550
25. 2025-10-04
    historical $1,550
26. 2025-09-15
    historical
27. 2025-08-28
    price $1,550
28. 2025-08-25
    listed $1,700
29. 2025-08-08
    soldstatus $68,750
30. 2025-07-08
    price $124,999
31. 2025-06-18
    listed $129,999 Active
32. 2025-06-18
    historical
33. 2025-05-30
    price $139,000
34. 2025-05-10
    listed $145,000 Active
35. 2024-12-06
    historical
36. 2024-08-20
    listed $80,000 Active
37. 2019-08-13
    soldstatus $49,900
38. 2019-06-13
    historical
39. 2019-06-10
    listed $49,900 Active
40. 2008-09-02
    soldstatus $55,000

ⓘ 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: $2,166 · $180/mo
• Projected year-2 tax: $2,639 · $220/mo
• Expected delta: +$473/yr (+$39/mo · 21.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $19,109
• − Mortgage interest: −$7,002
• − Property taxes: −$2,166
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$3,636
• Taxable income: $1,825
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $3,204/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

+136.4% since first listed

25 events — show timeline

• 2026-05-17 Pending — BRIGHT MLS
• 2026-05-06 Listed $130,000 BRIGHT MLS
• 2026-04-25 Listing Removed — BRIGHT MLS
• 2026-04-24 Listed $235,000 BRIGHT MLS
• 2026-02-02 Rental Removed $1,450 APPFOLIO
• 2026-01-31 Price Changed $1,450 APPFOLIO
• 2025-12-17 Listed for Rent $1,550 APPFOLIO
• 2025-12-05 Rental Removed $1,550 APPFOLIO
• 2025-12-03 Listed for Rent $1,550 APPFOLIO
• 2025-10-04 Rental Removed $1,550 APPFOLIO
• 2025-09-15 Listing Removed — BRIGHT MLS
• 2025-08-28 Price Changed $1,550 APPFOLIO
• 2025-08-25 Listed for Rent $1,700 APPFOLIO
• 2025-08-08 Sold (Public Records) $68,750 Public Records
• 2025-07-08 Price Changed $124,999 BRIGHT MLS
• 2025-06-18 Listing Removed — BRIGHT MLS
• 2025-06-18 Listed $129,999 BRIGHT MLS
• 2025-05-30 Price Changed $139,000 BRIGHT MLS
• 2025-05-10 Listed $145,000 BRIGHT MLS
• 2024-12-06 Listing Removed — BRIGHT MLS
• 2024-08-20 Listed $80,000 BRIGHT MLS
• 2019-08-13 Sold (Public Records) $49,900 Public Records
• 2019-06-13 Listing Removed — BRIGHT MLS
• 2019-06-10 Listed $49,900 BRIGHT MLS
• 2008-09-02 Sold (Public Records) $55,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $2,166 · +4.9% YoY. Source: county tax records.