752-754 S Broad St · Elizabeth, NJ 07202-2611

$760,000

5 bd · 3.0 ba · 1,733 sqft · MultiFamily · 41 Days on market

Built 1926 Fair condition Est $645k · 18% over

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Why this score? — see what drove the F 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 +11.6/30.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

multi-family in Elizabeth ready to be delivered VACANT. 752 S Broad St is a well-kept property offering strong flexibility for both owner-occupants and investors. Includes a finished basement with high ceilings, a spacious bathroom with soaking tub and bidet, plus washer/dryer hookups.

Key facts

• 2 garage spots
• Built 1926
• Listed 41 days

Property features AI

Finance

• Financial info: Two-unit property; Reported net operating income: 0; Reported gross operating income: 0; Reported total operating expenses: 0

Exterior

• Parking: Detached 2-car garage; Total of about 5 parking spaces; Driveway with additional blacktop parking
• Utilities: Public water; Public sewer; Gas available in the street
• Home design: Two-story multi-unit building
• Construction: Year built: Approximate
• Exterior features: Aluminum siding; Composition shingle roof; No easement

Interior

• Kitchen: Unit 1: Gas range/oven, refrigerator; Unit 2: Gas range/oven, refrigerator
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms
• Bathrooms: 3 full bathrooms total; Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Two heating units with natural gas supply; Window air conditioning units
• Interior features: Finished basement; Gas water heater; Carbon monoxide detectors (in units)
• Laundry & utility: Owner pays water for both units; Tenants pay electric, gas, and heat for both units

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $760k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $727k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $636k (16.4% below list).
• Recommended offer: $636k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.4% in Elizabeth — 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 69/100 on livability (#277 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety B+; Watch: amenities D+, schools D-, crime D-.
• Elizabeth Public Schools (suburban): math 9% / reading 33% proficiency, ranked #430 of 472 in NJ (top 91%) — 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.
• Market conditions: 2 active listings in the ZIP; 1,749 units permitted in Union County in 2024 (1,421 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($5k loan paydown + $23k appreciation (3.0% local appreciation)).
• Union County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($737k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $274k; list at $760k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — 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 $635,700 (16.4% 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 41 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.30%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $644,676
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 Grier Ave	0.31mi	4/3.5 (-1)	1,717 (-1%)	9mo	$639,000	$372	70
843 Garden St	0.55mi	6/3.0 (+1)	1,700 (-2%)	20mo	$615,000	$362	49

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: 6.3%
• Equity multiple: 1.36×
• Total profit: $76,990
• Equity at exit: $341,729

10-year hold

• IRR: 9.2%
• Equity multiple: 2.39×
• Total profit: $294,872
• Equity at exit: $526,645

Cash invested: $212,800 (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 07202-2611

• Active inventory: 2
• Price-to-rent: 29.9×

Monthly cashflow live

• Estimated rent: $6,357 high
• Mortgage (P&I): −$3,986
• Tax est. 1.5%: −$950 /mo · $11,400/yr
• Insurance: −$317
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,335
• Net cashflow: $-230

Break-even live

Break-even rent $6,648

Max offer price $726,696

Occupancy floor 99%

Sensitivity live

Price	-10% $295	-5% $32	+0% $-230	+5% $-493	+10% $-755
Rent	-10% $-732	-5% $-481	+0% $-230	+5% $21	+10% $272
Rate	-1.0pp $153	-0.5pp $-37	base $-230	+0.5pp $-427	+1.0pp $-627

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$6,357
Total (3 units)			$6,357

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: $190,000
• Closing costs: $22,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-07
   days on market $760,000 Active 41 DOM
2. 2026-06-04
   days on market $760,000 Active 38 DOM
3. 2026-06-03
   days on market $760,000 Active 37 DOM
4. 2026-06-02
   days on market $760,000 Active 36 DOM
5. 2026-06-01
   days on market $760,000 Active 35 DOM
6. 2026-05-31
   days on market $760,000 Active 34 DOM
7. 2026-05-14
   status Active
8. 2026-04-20
   status Under Contract
9. 2026-04-04
   listed $760,000 Active
10. 2026-03-31
    historical $760,000
11. 2010-12-14
    soldstatus $274,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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

Taxation est. · year 1

• Rental income: $76,284
• − Mortgage interest: −$42,572
• − Property taxes: −$11,400
• − Insurance: −$3,800
• − Repairs & maintenance: −$6,103
• − Management: −$6,103
• − Depreciation: −$22,109
• Taxable loss: −$15,802
• Est. tax savings @ 24.0%: +$3,793
• After-tax cash flow: $1,031/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

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehabilitation needs. Painting, updating cabinets, and landscaping improvements can significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Cabinets show some wear and tear.
• Minor Bathroom fixtures — Fixtures appear slightly outdated.
• Minor Landscaping — Some areas need trimming and maintenance.

Value-add opportunities

• Resale Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's appeal.
• Rental Landscaping improvements — Well-maintained landscaping can attract more tenants and increase rental value.
• Both HVAC system maintenance — A well-maintained HVAC system improves comfort and energy efficiency, benefiting both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets show some wear and tear.	Minor	$500–3,000
Bathroom fixtures · Fixtures appear slightly outdated.	Minor	$500–3,000
Landscaping · Some areas need trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's appeal. ↑
• Rental Landscaping improvements — Well-maintained landscaping can attract more tenants and increase rental value. ↑
• Both HVAC system maintenance — A well-maintained HVAC system improves comfort and energy efficiency, benefiting both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Elizabeth Public Schools
• NCES district ID: 3404590
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 33% ▼ -19.00%
• Median HH income: $43,785
• Composite: 18.05/100
• National rank: #8979
• State rank: #430 of 472 in NJ

Livability — Elizabeth

• Score: 69/100
• State rank: #277
• US rank: #8270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabeth, 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

+177.4% since first listed

5 events — show timeline

• 2026-05-14 Relisted — GSMLS
• 2026-04-20 Pending — GSMLS
• 2026-04-04 Listed $760,000 GSMLS
• 2026-03-31 Coming Soon $760,000 GSMLS
• 2010-12-14 Sold (MLS) $274,000 GSMLS