504 Tyler St · Trenton, NJ 08609

$245,000

5 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 254 Days on market

Built 1900 2,040 sqft lot Est $321k · 24% under

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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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 5-bed, 1-bath end unit in Trenton perfect for an investment property or to live in, with beautiful hardwood floors, walk up 3rd floor attic, backyard, front porch & unfinished basement. This three-story home features a spacious living area, a large eat in kitchen, and three bright bedrooms. The unfinished basement & walk up attic both offer ample storage or potential for customization. Enjoy extra privacy in your yard space. Schedule a private showing.

Key facts

• Finished attic
• Large front porch
• Backyard space

Tags

• LARGE FRONT PORCH
• FINISHED ATTIC
• HARDWOOD FLOORS
• BACKYARD SPACE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Semi-detached structure; Shingle roof; Fee simple ownership
• Construction: Brick construction; Block and other foundation types; Built year per assessor
• Exterior features: Not in a federal flood zone; Lot dimensions approximately 24 x 85

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Three bedrooms on the first upper level; Two bedrooms on the second upper level
• Flooring: Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Radiant heating; Hot water/baseboard hot water heating; Natural gas heating and cooling fuel; Natural gas hot water
• Interior features: Eat-in kitchen; Dry wall walls and ceilings; Full, unfinished basement
• Laundry & utility: Laundry hookups available; Laundry area present

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 6.3% in Trenton — 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 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: schools F, 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.
• Market conditions: 33 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,665/mo this rent would consume 47% of the median local household income ($68k/yr) (locally 930% 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 $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

• It's been on market 254 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.09% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $320,608
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 Lyndale Ave	0.48mi	4/1.5 (-1)	1,443 (+5%)	1mo	$360,000	$249	62
33 College St	0.42mi	4/1.0 (-1)	1,404 (+2%)	14mo	$270,000	$192	60
508 Tyler St	0.01mi	4/2.0 (-1)	1,516 (+10%)	23mo	$240,000	$158	55
368 Commonwealth Ave	0.47mi	4/2.0 (-1)	1,346 (-2%)	18mo	$310,000	$230	51
1064 Revere Ave	0.63mi	4/2.0 (-1)	1,344 (-2%)	12mo	$340,000	$253	48
925 Melrose Ave	0.53mi	4/2.5 (-1)	1,546 (+12%)	15mo	$360,000	$233	31

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: -3.3%
• Equity multiple: 0.88×
• Total profit: $-8,456
• Equity at exit: $36,530

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $32,847
• Equity at exit: $21,183

Cash invested: $68,600 (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 08609

• Home prices YoY: -29.3%
• Active inventory: 33
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,665 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$228 /mo · $2,733/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $491

Break-even live

Break-even rent $2,044

Max offer price $245,000

Occupancy floor 77%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	13d	1	0.17mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.31mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	21d	1	0.40mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	13d	1	0.65mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	21d	1	0.76mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	21d	1	0.86mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	1.04mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	21d	1	1.36mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	13d	1	1.39mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	13d	1	1.47mi

Listing history 27 events

1. 2026-05-20
   status Pending
2. 2026-05-11
   price $245,000
3. 2025-11-05
   price $246,900
4. 2025-10-21
   price $254,900
5. 2025-09-07
   listed $259,900 Active
6. 2025-08-31
   historical
7. 2025-08-12
   price $260,000
8. 2025-05-30
   price $270,000
9. 2025-04-23
   price $245,000
10. 2025-03-21
    price $260,000
11. 2025-02-27
    listed $265,000 Active
12. 2024-10-09
    soldstatus $215,000
13. 2024-09-30
    status Pending 477-char remark

    Show marketing remark (477 chars)

    Charming 5-bed, 1-bath end unit in Trenton perfect for an investment property or to live in, with beautiful hardwood floors, walk up 3rd floor attic, backyard, front porch & unfinished basement. This three-story home features a spacious living area, a large eat in kitchen, and three bright bedrooms. The unfinished basement & walk up attic both offer ample storage or potential for customization. Enjoy extra privacy in your yard space. Schedule a private showing.

14. 2024-09-30
    soldstatus $215,000 Closed 477-char remark

    Show marketing remark (477 chars)

    Charming 5-bed, 1-bath end unit in Trenton perfect for an investment property or to live in, with beautiful hardwood floors, walk up 3rd floor attic, backyard, front porch & unfinished basement. This three-story home features a spacious living area, a large eat in kitchen, and three bright bedrooms. The unfinished basement & walk up attic both offer ample storage or potential for customization. Enjoy extra privacy in your yard space. Schedule a private showing.

15. 2024-08-15
    historical Active Under Contract 477-char remark

    Show marketing remark (477 chars)

    Charming 5-bed, 1-bath end unit in Trenton perfect for an investment property or to live in, with beautiful hardwood floors, walk up 3rd floor attic, backyard, front porch & unfinished basement. This three-story home features a spacious living area, a large eat in kitchen, and three bright bedrooms. The unfinished basement & walk up attic both offer ample storage or potential for customization. Enjoy extra privacy in your yard space. Schedule a private showing.

16. 2024-06-10
    listed $225,000 Active 477-char remark

    Show marketing remark (477 chars)

    Charming 5-bed, 1-bath end unit in Trenton perfect for an investment property or to live in, with beautiful hardwood floors, walk up 3rd floor attic, backyard, front porch & unfinished basement. This three-story home features a spacious living area, a large eat in kitchen, and three bright bedrooms. The unfinished basement & walk up attic both offer ample storage or potential for customization. Enjoy extra privacy in your yard space. Schedule a private showing.

17. 2022-05-02
    soldstatus $77,500
18. 2015-12-23
    soldstatus $45,732
19. 2015-08-03
    historical
20. 2015-02-03
    listed $49,900
21. 2005-04-02
    historical
22. 2004-08-02
    listed $89,900
23. 2002-12-31
    historical
24. 2002-06-12
    listed $54,900
25. 1989-02-02
    soldstatus $49,000
26. 1986-12-30
    soldstatus $42,000
27. 1984-06-01
    soldstatus $24,000

ⓘ 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: $2,733 · $228/mo
• Projected year-2 tax: $4,417 · $368/mo
• Expected delta: +$1,684/yr (+$140/mo · 61.6%)

ⓘ 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: $31,980
• − Mortgage interest: −$13,724
• − Property taxes: −$2,733
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,558
• − Management: −$2,558
• − Depreciation: −$7,127
• Taxable income: $2,054
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $5,395/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): 15,938
• Household income: $68,238
• Rent vs Own: 70.2% rent · 29.8% own
• Severe rent burden: 930.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 45% Black 43% Two or more races 12% White 8% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 11%
• Common ancestry: Hispanic 5% Swiss 2% Estonian 1%
• Foreign-born: 32% · Canada, Guatemala, China
• Languages at home: 51% English-only · Spanish 41% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -114.12%
• Current HPI: 275.8566
• 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

+920.8% since first listed

27 events — show timeline

• 2026-05-20 Pending — BRIGHT MLS
• 2026-05-11 Price Changed $245,000 BRIGHT MLS
• 2025-11-05 Price Changed $246,900 BRIGHT MLS
• 2025-10-21 Price Changed $254,900 BRIGHT MLS
• 2025-09-07 Listed $259,900 BRIGHT MLS
• 2025-08-31 Listing Removed — BRIGHT MLS
• 2025-08-12 Price Changed $260,000 BRIGHT MLS
• 2025-05-30 Price Changed $270,000 BRIGHT MLS
• 2025-04-23 Price Changed $245,000 BRIGHT MLS
• 2025-03-21 Price Changed $260,000 BRIGHT MLS
• 2025-02-27 Listed $265,000 BRIGHT MLS
• 2024-10-09 Sold (Public Records) $215,000 Public Records
• 2024-09-30 Pending — BRIGHT MLS
• 2024-09-30 Sold (MLS) $215,000 BRIGHT MLS
• 2024-08-15 Contingent — BRIGHT MLS
• 2024-06-10 Listed $225,000 BRIGHT MLS
• 2022-05-02 Sold (Public Records) $77,500 Public Records
• 2015-12-23 Sold (Public Records) $45,732 Public Records
• 2015-08-03 Listing Removed — BRIGHT MLS
• 2015-02-03 Listed $49,900 BRIGHT MLS
• 2005-04-02 Listing Removed — BRIGHT MLS
• 2004-08-02 Listed $89,900 BRIGHT MLS
• 2002-12-31 Listing Removed — BRIGHT MLS
• 2002-06-12 Listed $54,900 BRIGHT MLS
• 1989-02-02 Sold (Public Records) $49,000 Public Records
• 1986-12-30 Sold (Public Records) $42,000 Public Records
• 1984-06-01 Sold (Public Records) $24,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $2,733 · +1.5% YoY. Source: county tax records.