423 Woodland St · Trenton, NJ 08610

$225,000

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

Built 1910 1,700 sqft lot Est $200k · 12% over

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Why this score? — see what drove the D- 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 +16.3/30.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 423 Woodland Street! Upon entering you can't miss the beautifully maintained hardwood flooring and spacious living area. Following through the dinning room into the kitchen that over looks the perfect back yard for family time, BBQs, and enjoying the warmer seasons. With a shed for extra storage! Off of the kitchen you'll find a small additional room that can be used as a mud room or pantry. Three nice sized bedrooms and a full bath on the second level. Enjoy this home being partially detached giving you a side alley to bring your trash through! Easy on street parking! Come check it out!

Key facts

• Hardwood flooring
• Partially detached
• Back yard

Tags

• HARDWOOD FLOORING
• SPACIOUS LIVING AREA
• BACK YARD
• SHED FOR EXTRA STORAGE
• SMALL ADDITIONAL ROOM
• PARTIALLY DETACHED

Property features AI

Finance

• Other: Assessor as source for year built and finished area; Above-grade finished area reported as 1,032
• Financial info: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Semi-detached home; Frame construction
• Construction: Frame construction; Concrete perimeter foundation; Above-grade and below-grade structures
• Exterior features: Lot dimensions approximately 17 x 100; No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (natural gas); Natural gas hot water
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $125 ($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 $215k (4.6% below list).
• Recommended offer: $215k (4.6% below list) — sets the bar for 1% rule.

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: Franklin Elementary School (math 3% / reading 14%, grade F, #1,261 of 1,303 statewide, top 97%, 349 students, 57% FRL); Dunn Middle School (math 2% / reading 19%, grade F, #424 of 431 statewide, top 98%, 670 students, 60% FRL); 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 58% FRL vs 80% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 118 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 31% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 22y 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 $88k; list at $225k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $214,650 (4.6% below list)

Questions for the listing agent

1. Built in 1910 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.95% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.37%
• DSCR: 1.11
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $200,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Woodland St	0.07mi	3/1.0	1,007 (-2%)	3mo	$182,000	$181	90
1210 Chestnut Ave	0.36mi	3/1.0	1,047 (+2%)	1mo	$170,000	$162	80
1004 William St	0.52mi	3/1.0	1,068 (+4%)	2mo	$275,000	$257	68
345 Genesee St	0.56mi	3/1.0	1,080 (+5%)	1mo	$110,000	$102	65
212 Hewitt St	0.30mi	2/1.0 (-1)	928 (-10%)	1mo	$180,000	$194	64
1553 Chambers St	0.34mi	3/1.0	1,182 (+14%)	1mo	$225,000	$190	59
921--923 Lyndale Ave	0.75mi	2/1.0 (-1)	1,022 (-1%)	2mo	$251,000	$246	57
632 Lalor St	0.63mi	3/1.0	1,120 (+8%)	2mo	$215,000	$192	54
175 Anderson St	0.52mi	4/1.0 (+1)	1,136 (+10%)	1mo	$225,000	$198	53
320 Commonwealth Ave	0.59mi	2/1.5 (-1)	1,104 (+7%)	4mo	$225,000	$204	50
35 Jersey St	0.69mi	4/1.0 (+1)	1,131 (+10%)	0mo	$210,000	$186	46
336 Columbus Ave	0.61mi	3/3.0	1,162 (+13%)	3mo	$370,000	$318	40

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: -12.5%
• Equity multiple: 0.55×
• Total profit: $-28,480
• Equity at exit: $33,548

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-14,408
• Equity at exit: $19,454

Cash invested: $63,000 (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 08610

• Active inventory: 118
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,146 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$297 /mo · $3,569/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $125

Break-even live

Break-even rent $1,989

Max offer price $225,000

Occupancy floor 89%

Sensitivity live

Price	-10% $252	-5% $188	+0% $125	+5% $61	+10% $-3
Rent	-10% $-45	-5% $40	+0% $125	+5% $209	+10% $294
Rate	-1.0pp $238	-0.5pp $182	base $125	+0.5pp $66	+1.0pp $7

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
837 Genesee St Trenton, NJ	2.0	1.0	850	$1,700	$2.00	23d	1	0.17mi
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	15d	1	0.21mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	23d	1	0.22mi
1132 Genesee St Unit 1132 Trenton, NJ	3.0	1.0	1198	$2,500	$2.09	23d	1	0.25mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	23d	1	0.31mi
1078 Lalor St Unit 1 Trenton, NJ	2.0	1.0	1488	$1,895	$1.27	23d	1	0.38mi
1078 Lalor St Unit 2 Trenton, NJ	2.0	1.0	1488	$1,785	$1.20	23d	1	0.38mi
233 Virginia Ave Trenton, NJ	3.0	1.0	1302	$2,500	$1.92	14d	1	0.43mi
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	23d	1	0.53mi
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	15d	1	0.55mi
225 Home Ave Trenton, NJ	2.0	1.0	800	$1,750	$2.19	23d	1	0.57mi
203 Genesee St Unit 2 Trenton, NJ	2.0	1.0	1452	$1,700	$1.17	23d	1	0.67mi
244 Jersey St Trenton, NJ	3.0	1.5	1368	$2,300	$1.68	15d	1	0.70mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	23d	1	0.72mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	15d	1	0.74mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	23d	1	0.86mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	15d	4	0.92mi
315 Wert Ave Trenton, NJ	2.0	1.0	685	$2,270	$3.31	14d	9	1.02mi
547 Centre St Trenton, NJ	3.0	1.0	1060	$1,850	$1.75	23d	1	1.03mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	23d	1	1.13mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	23d	1	1.18mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	23d	1	1.18mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	23d	1	1.19mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	23d	1	1.25mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	23d	1	1.41mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	1.41mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	15d	1	1.46mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	1.49mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	15d	1	1.49mi

Listing history 4 events

1. 2026-06-22
   days on market $225,000 Active 3 DOM
2. 2026-06-19
   status $225,000 Active 1 DOM
3. 2026-06-18
   remarks 607-char remark
4. 2026-06-18
   listed $225,000 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: $3,569 · $297/mo
• Projected year-2 tax: $4,586 · $382/mo
• Expected delta: +$1,017/yr (+$85/mo · 28.5%)

ⓘ 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 ≥102°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: $25,758
• − Mortgage interest: −$12,603
• − Property taxes: −$3,569
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,061
• − Management: −$2,061
• − Depreciation: −$6,545
• Taxable loss: −$2,207
• Est. tax savings @ 24.0%: +$530
• After-tax cash flow: $2,025/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): 33,465
• Household income: $83,906
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1166.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 43% White 39% Black 15% Two or more races 13% Asian 3%
• Hispanic origin (detail): Puerto Rican 12% Dominican 9%
• Common ancestry: Romanian 5% Hispanic 3% Italian 1%
• Foreign-born: 25% · Canada, Jamaica, Guatemala
• Languages at home: 55% English-only · Spanish 37% French/Haitian/Cajun 3% Other Indo-European 1%

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: ▼ -412.61%
• Current HPI: 296.6642
• Rent YoY: —
• 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

+765.4% since first listed

11 events — show timeline

• 2026-06-19 Listed $225,000 BRIGHT MLS
• 2026-06-18 Coming Soon $225,000 BRIGHT MLS
• 2013-01-14 Listing Removed — BRIGHT MLS
• 2012-07-14 Listed $115,000 BRIGHT MLS
• 2006-03-11 Listing Removed — BRIGHT MLS
• 2005-09-13 Listed $159,000 BRIGHT MLS
• 2004-04-26 Sold (Public Records) $87,900 Public Records
• 2004-04-16 Sold (MLS) $87,900 BRIGHT MLS
• 2004-02-23 Listing Removed — BRIGHT MLS
• 2004-02-19 Listed $87,900 BRIGHT MLS
• 1977-08-05 Sold (Public Records) $26,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $3,569 · +1.5% YoY. Source: county tax records.