496 Grove Ave · Metuchen, NJ 08820

$350,000

4 bd · 1.5 ba · 1,704 sqft · SingleFamily public records · 1 Days on market

Built 1932 0.26 ac lot

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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 +19.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.2/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks! This * * as-is * * 4-bedroom, 1. 5 baths is the perfect chance for buyers, renovators, or investors ready to bring their vision to life. With solid bones and a functional layout, this * * fixer-upper * * offers endless potential to update, redesign, and truly make it your own. Whether you’re looking to renovate and resell, create a rental property, or customize a home to your personal style, this is a * * great investment * * with room to add real value. The property features generous living space, a desirable lot, and a location that supports long-term upside. Being sold * * as-is * * , the home presents an honest opportunity for improvement while

Key facts

• 0.26 acre lot
• Built 1932

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 7.7% vs local median 2.4% in Metuchen — 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 84/100 on livability (#29 in NJ, #766 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living F.
• Edison Township School District (suburban): math 44% / reading 64% proficiency, ranked #91 of 472 in NJ (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.3%/yr); 105 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,971 units permitted in Middlesex County in 2024 (1,193 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Middlesex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1932 — 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 $350,000

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.87%
• DSCR: 1.22
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $795,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 Adams St	0.24mi	3/2.0 (-1)	1,500 (-12%)	2mo	$950,000	$633	60
426 Grove Ave	0.27mi	4/2.0	1,836 (+8%)	16mo	$900,000	$490	60
144 James St	0.08mi	3/1.5 (-1)	1,500 (-12%)	16mo	$700,000	$467	58
24 Turner Ct	0.73mi	4/2.0	1,668 (-2%)	9mo	$854,000	$512	53
266 Middlesex Ave	0.59mi	3/2.0 (-1)	1,800 (+6%)	6mo	$700,000	$389	51
34 Remington Dr	0.58mi	3/2.5 (-1)	1,762 (+3%)	10mo	$880,000	$499	50
22 Mayfield Pl	0.69mi	4/2.0	1,858 (+9%)	4mo	$781,000	$420	48
41 Oliver Ave	0.62mi	3/2.0 (-1)	1,843 (+8%)	4mo	$810,000	$440	47
24 Lench Ave	0.73mi	3/1.5 (-1)	1,616 (-5%)	11mo	$711,000	$440	43
20 Oak Hills Rd	0.67mi	4/2.5	1,904 (+12%)	8mo	$861,000	$452	38
3 Mayfield Pl	0.74mi	3/2.0 (-1)	1,488 (-13%)	10mo	$632,000	$425	29
649 Grove Ave	0.73mi	4/3.0	1,476 (-13%)	12mo	$800,000	$542	28

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 · 2.27% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-34,049
• Equity at exit: $52,186

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-7,804
• Equity at exit: $30,262

Cash invested: $98,000 (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 08820

• Rents YoY: 2.3%
• Active inventory: 105
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,089 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$851 /mo · $10,212/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $398

Break-even live

Break-even rent $3,585

Max offer price $350,000

Occupancy floor 85%

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
434 Plainfield Rd Edison, NJ	4.0	3.0	1872	$4,300	$2.30	1d	1	1.22mi
68 Central Ave Metuchen, NJ	3.0	3.0	2000	$3,495	$1.75	25d	1	1.24mi
272 Lake Ave Metuchen, NJ	4.0	2.5	1865	$3,600	$1.93	21d	1	1.35mi

Listing history 6 events

1. 2026-03-11
   status Pending
2. 2026-03-11
   listed $350,000 Active
3. 2005-06-07
   soldstatus $371,000
4. 1998-10-06
   soldstatus $155,000
5. 1998-01-08
   soldstatus $65,000
6. 1998-01-08
   soldstatus $120,000

ⓘ 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: $10,212 · $851/mo
• Projected year-2 tax: $10,212 · $851/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,063
• − Mortgage interest: −$19,605
• − Property taxes: −$10,212
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,925
• − Management: −$3,925
• − Depreciation: −$10,182
• Taxable loss: −$536
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $4,901/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: Edison Township School District
• NCES district ID: 3404500
• Math proficiency: 44% ▼ -20.00%
• Reading proficiency: 64% ▼ -13.00%
• Median HH income: $89,889
• Composite: 49.84/100
• National rank: #1948
• State rank: #91 of 472 in NJ

Livability — Metuchen

• Score: 84/100
• State rank: #29
• US rank: #766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Middlesex County · 714,427 people
• City population: 18,206
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 39,978
• Household income: $171,363
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 510.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 901,713 people
• By 2030: 930,661 · +3.2%
• By 2040: 986,276 · +9.4%
• By 2050: 1,038,920 · +15.2%
• By 2075: 1,159,418 · +28.6%
• By 2100: 1,221,973 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Asian (70%)
• Race & ethnicity: Asian 70% White 17% Black 5% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Scotch-Irish 2% Romanian 1% Estonian 1%
• Foreign-born: 55% · China, Canada, South Korea
• Languages at home: 33% English-only · Other Indo-European 37% Other Asian/Pacific 14% Chinese 8%

Political lean MEDSL · Middlesex

• 2024 margin: Lean D (+8.0) · D 52.5% · R 44.5% · Other 3.0%
• 2008→2024 swing: -13.8pp toward R · 2008: 21.8pp · 2024: 8.0pp
• All cycles: 2024: D+8.0 2020: D+22.0 2016: D+19.8 2012: D+27.0 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -576.40%
• Current HPI: 282.3267
• Rent YoY: ▲ 2.27%
• 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

+438.5% since first listed

6 events — show timeline

• 2026-03-11 Pending — BRIGHT MLS
• 2026-03-11 Listed $350,000 BRIGHT MLS
• 2005-06-07 Sold (Public Records) $371,000 Public Records
• 1998-10-06 Sold (Public Records) $155,000 Public Records
• 1998-01-08 Sold (Public Records) $120,000 Public Records
• 1998-01-08 Sold (Public Records) $65,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $10,212 · -0.0% YoY. Source: county tax records.