217-219 NEW YORK Ave · Union City, NJ 07087

$975,000

24 bd · 12.0 ba · — sqft · MultiFamily · 32 Days on market

Fair condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

217-219 New York Ave, Union City, NJ – Offered at $975,000 | Rare 4-Family Opportunity on a 50x50 Lot. Welcome to 217-219 New York Ave, a rare opportunity to own a solid four-family property in one of Union City’s most convenient and consistently high-demand locations. Situated on an oversized 50x50 lot with driveway parking, this property offers strong income potential, long-term upside, and flexibility for both investors and owner-occupants looking to offset expenses with substantial rental income. The building spans four levels and features a total of 8 bedrooms, 4 full baths, 4 kitchens, multiple living spaces, and additional flexible space. Each residential level offers a t

Key facts

• 50x50 lot
• Driveway parking
• 3 parking spots

Tags

• 50X50 LOT
• DRIVEWAY PARKING
• STRONG INCOME POTENTIAL
• SUBSTANTIAL RENTAL INCOME
• MULTIPLE LIVING SPACES
• TRADITIONAL 2 BEDROOM LAYOUT

Property features AI

Exterior

• Parking: Parking for 3+ cars
• Utilities: Lot dimensions approximately 50 x 50
• Home design: Multi-story building
• Construction: Lead paint disclosure applicable
• Exterior features: Aluminum/Vinyl and stone exterior

Interior

• Kitchen: One kitchen per floor (three total)
• Bedrooms: Two bedrooms on first floor; Two bedrooms on second floor; Two bedrooms on third floor
• Bathrooms: Three full bathrooms (one on each floor)
• Heating & cooling: Baseboard heating; Gas heating; Radiators
• Interior features: Radiator and baseboard heating; Gas heating source

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/3.0-bath units multifamily listed at $975k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $13k ($155k/yr) — positive. Per door: $3k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $975k).
• Recommended offer: $946k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.2% vs local median 2.3% in Union City — 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 (#117 in NJ, #2,998 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: cost of living F.
• Union City School District (suburban): math 15% / reading 36% proficiency, ranked #399 of 472 in NJ (top 84%) — 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.
• Zoned schools: Thomas A Edison Elementary School (math 7% / reading 25%, grade F, #1,104 of 1,303 statewide, top 85%, 839 students, 92% FRL); Emerson Middle School (math 15% / reading 40%, grade F, #340 of 431 statewide, top 80%, 1,001 students, 87% FRL); Union City High School (math 12% / reading 35%, grade F, #331 of 399 statewide, top 83%, 3,025 students, 83% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: Rents flat; 228 active listings in the ZIP; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $24,930/mo this rent would consume 465% of the median local household income ($64k/yr) (locally 6042% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $104k of equity ($7k loan paydown + $98k appreciation (10.0% local appreciation)).
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $273k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$168k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($946k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $945,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.56% ✓
• Cap rate: 22.24%
• Cash-on-cash: 56.95%
• DSCR: 3.53
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: 67.9%
• Equity multiple: 5.78×
• Total profit: $1,304,768
• Equity at exit: $878,357

10-year hold

• IRR: 60.7%
• Equity multiple: 12.35×
• Total profit: $3,097,748
• Equity at exit: $1,894,211

Cash invested: $273,000 (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 07087

• Home prices YoY: 9.6%
• Rents YoY: 0.9%
• Active inventory: 228
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $24,930 medium
• Mortgage (P&I): −$5,113
• Tax est. 1.5%: −$1,219 /mo · $14,625/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,235
• Net cashflow: $12,957

Break-even live

Break-even rent $8,529

Max offer price $975,000

Occupancy floor 43%

Sensitivity live

Price	-10% $13,630	-5% $13,294	+0% $12,957	+5% $12,620	+10% $12,283
Rent	-10% $10,987	-5% $11,972	+0% $12,957	+5% $13,941	+10% $14,926
Rate	-1.0pp $13,448	-0.5pp $13,205	base $12,957	+0.5pp $12,704	+1.0pp $12,447

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	3	$24,928
Total (4 units)			$24,930

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $975,000 Active 32 DOM
2. 2026-06-18
   days on market $975,000 Active 29 DOM
3. 2026-06-17
   days on market $975,000 Active 28 DOM
4. 2026-06-16
   days on market $975,000 Active 27 DOM
5. 2026-06-15
   days on market $975,000 Active 26 DOM
6. 2026-06-13
   days on market $975,000 Active 24 DOM
7. 2026-06-13
   days on market $975,000 Active 23 DOM
8. 2026-06-09
   days on market $975,000 Active 20 DOM
9. 2026-06-08
   days on market $975,000 Active 19 DOM
10. 2026-06-07
    days on market $975,000 Active 18 DOM
11. 2026-06-04
    days on market $975,000 Active 15 DOM
12. 2026-06-03
    days on market $975,000 Active 14 DOM
13. 2026-06-02
    days on market $975,000 Active 13 DOM
14. 2026-06-01
    days on market $975,000 Active 12 DOM
15. 2026-05-31
    days on market $975,000 Active 11 DOM
16. 2026-05-20
    listed $975,000 Active

ⓘ 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 ≥98°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: $299,160
• − Mortgage interest: −$54,615
• − Property taxes: −$14,625
• − Insurance: −$4,875
• − Repairs & maintenance: −$23,933
• − Management: −$23,933
• − Depreciation: −$28,364
• Taxable income: $148,816
• Est. tax owed @ 24.0%: −$35,716
• After-tax cash flow: $119,765/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 · 12 photos

Fair 45/100 Moderate rehab

This four-family property requires moderate renovations to improve its condition and value. Key areas for improvement include appliances, flooring, and painting. Upgrades will significantly enhance its resale and rental potential.

Repairs flagged

• Major Appliances — Outdated and worn
• Major Flooring — Worn and in need of replacement
• Major Paint — Peeling and in need of repainting

Value-add opportunities

• Both New flooring — Improves aesthetics and functionality
• Both New appliances — Enhances comfort and appeal
• Both Paint job — Refreshes the interior and exterior

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Outdated and worn	Major	$15,000–50,000
Flooring · Worn and in need of replacement	Major	$15,000–50,000
Paint · Peeling and in need of repainting	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New flooring — Improves aesthetics and functionality ↑
• Both New appliances — Enhances comfort and appeal ↑
• Both Paint job — Refreshes the interior and exterior ↑

ⓘ 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: Union City School District
• NCES district ID: 3416380
• Math proficiency: 15% ▼ -19.00%
• Reading proficiency: 36% ▼ -19.00%
• Median HH income: $41,210
• Composite: 21.55/100
• National rank: #8312
• State rank: #399 of 472 in NJ

Livability — Union City

• Score: 77/100
• State rank: #117
• US rank: #2998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, NJ
• County: Hudson County · 718,323 people
• City population: 66,463
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 66,463
• Household income: $64,310
• Rent vs Own: 80.9% rent · 19.1% own
• Severe rent burden: 6042.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 28% White 10% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 8% Cuban 9% Dominican 17%
• Foreign-born: 55% · Canada, Jamaica, China
• Languages at home: 18% English-only · Spanish 74% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.10%
• Current HPI: 597.8126
• Rent YoY: ▲ 0.89%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

1 event — show timeline

• 2026-05-20 Listed $975,000 HCMLS