366 8TH St · Jersey City, NJ 07302

$1,899,000

16 bd · 18.0 ba · — sqft · MultiFamily · 34 Days on market

Poor condition

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Why this score? — see what drove the C 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +2.4/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Prime downtown JC location for a 4 family home with a commercial space on the ground floor. The property features 4/1 bedroom apartments, a 4 car garage and a commercial space on the ground floor. Each unit is beautifully laid out as a railroad style apartment and a well-known and established jersey city pizzeria is located at the street level of this property. This is a great opportunity to own a historic and income producing property in the heart of downtown Jersey City.

Key facts

• Historic property
• Commercial space
• Downtown jc location

Tags

• DOWNTOWN JC LOCATION
• COMMERCIAL SPACE
• RAILROAD STYLE APARTMENT
• HISTORIC PROPERTY
• INCOME PRODUCING PROPERTY

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.5-bath units multifamily listed at $1.90M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $924/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($21k rent vs $1.90M).
• Recommended offer: $1.84M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 1.8% in Jersey 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 (#116 in NJ, #2,955 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Jersey City Public Schools (urban): math 16% / reading 38% proficiency, ranked #369 of 472 in NJ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 383 active listings in the ZIP; high-income renter base; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $21,292/mo this rent would consume 146% of the median local household income ($175k/yr) (locally 2672% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $13k of loan paydown is wiped out by about $57k of value loss. Plan a longer hold.
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($1.84M) is reasonable based on typical stale-listing flexibility.
• 6 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.

Recommended offer $1,842,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.42% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-62,892
• Equity at exit: $283,147

10-year hold

• IRR: 7.0%
• Equity multiple: 1.54×
• Total profit: $287,141
• Equity at exit: $164,191

Cash invested: $531,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 6 Strongly Tenant-Friendly
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City Jersey City: 6 Strongly Tenant-Friendly · D+34

Rent Control Ordinance covers buildings 4+ units pre-1986.

Methodology + full state rankings →

ZIP-level market 07302

• Home prices YoY: -25.1%
• Rents YoY: 3.4%
• Active inventory: 383
• Price-to-rent: 29.7×

Monthly cashflow live

• Estimated rent: $21,292 high
• Mortgage (P&I): −$9,959
• Tax est. 1.5%: −$2,374 /mo · $28,485/yr
• Insurance: −$791
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,471
• Net cashflow: $3,697

Break-even live

Break-even rent $16,612

Max offer price $1,899,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4.5	$21,292
Total (4 units)			$21,292

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: $474,750
• Closing costs: $56,970
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-27
   status Under Contract
2. 2026-03-19
   historical
3. 2026-01-20
   price $1,899,000
4. 2026-01-04
   listed $1,990,000 Active
5. 2025-12-22
   historical
6. 2025-11-26
   status Back On Market
7. 2025-10-31
   listed $1,995,000 Active
8. 2025-10-28
   historical
9. 2025-09-24
   historical
10. 2025-06-23
    price $1,995,000
11. 2025-06-23
    status Active
12. 2025-06-13
    historical
13. 2025-04-25
    listed $2,200,000 Active
14. 2025-03-24
    listed $1,899,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $255,504
• − Mortgage interest: −$106,374
• − Property taxes: −$28,485
• − Insurance: −$9,495
• − Repairs & maintenance: −$20,440
• − Management: −$20,440
• − Depreciation: −$55,244
• Taxable income: $15,026
• Est. tax owed @ 24.0%: −$3,606
• After-tax cash flow: $40,759/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 · 1 photo

Poor 20/100 Extensive rehab

This 4-unit multi-family property in Jersey City, NJ, requires extensive repairs and updates to its roof, exterior, landscaping, and interior. The property's poor condition and lack of maintenance make it a significant investment opportunity for an investor looking to renovate and increase its value.

Repairs flagged

• Major roof — The roof appears to be old and possibly leaking.
• Major exterior siding — The exterior siding is in poor condition, with visible wear and tear.
• Major exterior paint — The exterior paint is peeling and in poor condition.
• Major landscaping — The landscaping is overgrown and in poor condition, with no visible curb appeal or maintenance.
• Major interior walls/paint — The condition of the exterior suggests the interior may also be in poor condition, with no visible walls or paint in the photos.
• Major systems — The condition of the exterior suggests the interior may also be in poor condition, with no visible systems in the photos.
• Major flooring — The condition of the exterior suggests the interior may also be in poor condition, with no visible flooring in the photos.

Value-add opportunities

• Both roof replacement — Replacing the roof would improve the overall condition of the property and make it more attractive to potential buyers or renters.
• Both exterior siding and paint — Updating the exterior siding and paint would improve the curb appeal and make the property more attractive to potential buyers or renters.
• Both landscaping — Maintaining the landscaping would improve the curb appeal and make the property more attractive to potential buyers or renters.
• Both interior repairs and updates — Updating the interior walls, paint, and flooring would improve the overall condition of the property and make it more attractive to potential buyers or renters.
• Both systems upgrades — Upgrading the systems would improve the overall condition of the property and make it more attractive to potential buyers or renters.
• Both commercial space improvements — Improving the commercial space on the ground floor would increase the property's rental income and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be old and possibly leaking.	Major	$15,000–50,000
exterior siding · The exterior siding is in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior paint · The exterior paint is peeling and in poor condition.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and in poor condition, with no visible curb appeal or maintenance.	Major	$15,000–50,000
interior walls/paint · The condition of the exterior suggests the interior may also be in poor condition, with no visible walls or paint in the photos.	Major	$15,000–50,000
systems · The condition of the exterior suggests the interior may also be in poor condition, with no visible systems in the photos.	Major	$15,000–50,000
flooring · The condition of the exterior suggests the interior may also be in poor condition, with no visible flooring in the photos.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both roof replacement — Replacing the roof would improve the overall condition of the property and make it more attractive to potential buyers or renters. ↑
• Both exterior siding and paint — Updating the exterior siding and paint would improve the curb appeal and make the property more attractive to potential buyers or renters. ↑
• Both landscaping — Maintaining the landscaping would improve the curb appeal and make the property more attractive to potential buyers or renters. ↑
• Both interior repairs and updates — Updating the interior walls, paint, and flooring would improve the overall condition of the property and make it more attractive to potential buyers or renters. ↑
• Both systems upgrades — Upgrading the systems would improve the overall condition of the property and make it more attractive to potential buyers or renters. ↑
• Both commercial space improvements — Improving the commercial space on the ground floor would increase the property's rental income and make it more attractive to potential buyers or renters. ↑

ⓘ 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: Jersey City Public Schools
• NCES district ID: 3407830
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $58,431
• Composite: 24.43/100
• National rank: #7678
• State rank: #369 of 472 in NJ

Livability — Jersey City

• Score: 77/100
• State rank: #116
• US rank: #2955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jersey City, NJ
• County: Hudson County · 718,323 people
• City population: 294,078
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 56,220
• Household income: $175,077
• Rent vs Own: 76.0% rent · 24.0% own
• Severe rent burden: 2672.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 39% Asian 34% Hispanic / Latino 15% Two or more races 11% Black 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 40% · China, Canada, South Korea
• Languages at home: 55% English-only · Other Indo-European 14% Spanish 10% Chinese 9%

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: ▼ -160.49%
• Current HPI: 479.7768
• Rent YoY: ▲ 3.42%
• 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

+0.0% since first listed

14 events — show timeline

• 2026-04-27 Pending — HCMLS
• 2026-03-19 Listing Removed — HCMLS
• 2026-01-20 Price Changed $1,899,000 HCMLS
• 2026-01-04 Listed $1,990,000 HCMLS
• 2025-12-22 Listing Removed — HCMLS
• 2025-11-26 Relisted — HCMLS
• 2025-10-31 Listed $1,995,000 HCMLS
• 2025-10-28 Listing Removed — HCMLS
• 2025-09-24 Listing Removed — HCMLS
• 2025-06-23 Price Changed $1,995,000 HCMLS
• 2025-06-23 Relisted — HCMLS
• 2025-06-13 Listing Removed — HCMLS
• 2025-04-25 Listed $2,200,000 HCMLS
• 2025-03-24 Listed $1,899,000 HCMLS