77 Seventh St · Salem, NJ 08079

$150,000

4 bd · 1.0 ba · 1,386 sqft · SingleFamily public records · 134 Days on market

Built 1920 2,500 sqft lot Est $197k · 24% under

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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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

“Second chance opportunity! Back on the market due to buyer financing issues—no fault of the home. Welcome to this beautifully renovated four-bedroom, one-bath home located in Salem, New Jersey. This move-in-ready property has been fully updated from top to bottom, featuring a brand-new kitchen with new appliances, stylish cabinetry, and modern finishes. Enjoy peace of mind with a new roof, new windows throughout, and durable new vinyl plank flooring that flows seamlessly through the home. A one-year home warranty is included for added buyer confidence. With a fresh, clean interior and thoughtful upgrades, this home offers comfort, functionality, and value. Perfect for homeowner

Key facts

• Built 1920
• Listed 134 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Fee simple ownership
• Construction: Brick construction; Block foundation; Above-grade and below-grade structures
• Exterior features: Lot dimensions approximately 20 x 125

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the second upper level
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Baseboard hot water heating; Oil fuel; Electric hot water
• Interior features: Full basement; Two or more access exits

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 8.4% in Salem — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: schools D, amenities F, commute F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — 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.
• Market conditions: 100 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,055/mo this rent would consume 45% of the median local household income ($55k/yr) (locally 663% 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 $467 of equity ($1k loan paydown + $-570 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $150k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1920 — 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 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?
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 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: 1.37% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.88%
• DSCR: 1.71
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $196,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Fenwick Ave	0.41mi	3/1.0 (-1)	1,344 (-3%)	3mo	$191,250	$142	69
170 Johnson St	0.36mi	3/1.0 (-1)	1,417 (+2%)	9mo	$180,000	$127	67
363 Grant St	0.37mi	3/2.5 (-1)	1,424 (+3%)	0mo	$250,000	$176	67
272 E Broadway	0.37mi	3/2.0 (-1)	1,500 (+8%)	1mo	$65,000	$43	59
304 New Market St	0.56mi	3/1.0 (-1)	1,310 (-6%)	4mo	$186,000	$142	56
352 Allen Ave	0.56mi	3/1.5 (-1)	1,460 (+5%)	6mo	$225,000	$154	53
215 Sinnickson St	0.55mi	3/2.0 (-1)	1,362 (-2%)	13mo	$129,000	$95	51
207 9th St	0.30mi	3/1.5 (-1)	1,562 (+13%)	8mo	$230,000	$147	51
164 N Union St	0.46mi	3/1.5 (-1)	1,516 (+9%)	9mo	$199,000	$131	48
264 E Broadway	0.36mi	3/1.5 (-1)	1,584 (+14%)	5mo	$150,000	$95	48
200 Smith St	0.60mi	3/1.5 (-1)	1,212 (-13%)	10mo	$140,000	$116	36
115 Chestnut St	0.67mi	3/3.5 (-1)	1,282 (-8%)	8mo	$185,000	$144	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.68×
• Total profit: $28,406
• Equity at exit: $40,725

10-year hold

• IRR: 19.5%
• Equity multiple: 3.08×
• Total profit: $87,251
• Equity at exit: $46,749

Cash invested: $42,000 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,055 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$219 /mo · $2,623/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $556

Break-even live

Break-even rent $1,352

Max offer price $150,000

Occupancy floor 68%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	3d	1	0.10mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	1d	1	0.10mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	5d	1	0.17mi
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	44d	1	0.55mi

Listing history 19 events

1. 2026-06-07
   statusdays on market $150,000 Pending 134 DOM
2. 2026-06-04
   days on market $150,000 Active 132 DOM
3. 2026-06-03
   days on market $150,000 Active 131 DOM
4. 2026-06-02
   days on market $150,000 Active 130 DOM
5. 2026-06-01
   days on market $150,000 Active 129 DOM
6. 2026-05-31
   days on market $150,000 Active 128 DOM
7. 2026-05-20
   price $150,000
8. 2026-04-29
   price $160,000
9. 2026-04-29
   price $150,000
10. 2026-04-27
    status Active
11. 2026-03-24
    status Pending
12. 2026-03-24
    price $170,000
13. 2026-03-05
    status Active
14. 2026-03-03
    status Pending
15. 2026-02-25
    price $160,000
16. 2026-02-10
    price $165,000
17. 2026-01-18
    price $170,000
18. 2025-12-17
    listed $180,000 Active
19. 1991-10-01
    soldstatus $95,000

ⓘ 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: $2,623 · $219/mo
• Projected year-2 tax: $3,179 · $265/mo
• Expected delta: +$556/yr (+$46/mo · 21.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,662
• − Mortgage interest: −$8,402
• − Property taxes: −$2,623
• − Insurance: −$750
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$4,364
• Taxable income: $4,577
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $5,572/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: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+57.9% since first listed

13 events — show timeline

• 2026-05-20 Price Changed $150,000 BRIGHT MLS
• 2026-04-29 Price Changed $160,000 BRIGHT MLS
• 2026-04-29 Price Changed $150,000 BRIGHT MLS
• 2026-04-27 Relisted — BRIGHT MLS
• 2026-03-24 Pending — BRIGHT MLS
• 2026-03-24 Price Changed $170,000 BRIGHT MLS
• 2026-03-05 Relisted — BRIGHT MLS
• 2026-03-03 Pending — BRIGHT MLS
• 2026-02-25 Price Changed $160,000 BRIGHT MLS
• 2026-02-10 Price Changed $165,000 BRIGHT MLS
• 2026-01-18 Price Changed $170,000 BRIGHT MLS
• 2025-12-17 Listed $180,000 BRIGHT MLS
• 1991-10-01 Sold (Public Records) $95,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,623 · +4.9% YoY. Source: county tax records.