156 Washington St · Trenton, NJ 08611

$215,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 19 Days on market

Built 1900 1,237 sqft lot Est $263k · 18% 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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 3-bedroom, 1 full bath home. Property is tenant-occupied Lease in place through June 1. Tenant pays on time and maintains the property in good condition. Buyer responsible for verifying all lease terms and occupancy status. Property is being sold strictly as-is. Buyer responsible for all inspections, certifications, and due diligence.

Key facts

• Built 1900
• Listed 19 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heating and hot water
• Home design: Semi-detached brick home; Ownership is fee simple
• Construction: Brick construction; Other-type foundation; Above- and below-grade structures
• Exterior features: Lot dimensions approximately 13 x 95

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Baseboard hot water heating; Window air conditioning units (electric)
• Interior features: Unfinished basement; Living area recorded from assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (7.2% below list).
• Recommended offer: $200k (7.2% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Washington Elementary School (math 0% / reading 11%, grade F, #1,291 of 1,303 statewide, top 99%, 289 students, 65% FRL); Dunn Middle School (math 2% / reading 19%, grade F, #424 of 431 statewide, top 98%, 670 students, 60% FRL); Trenton Central High School - Main Campus (math 2% / reading 10%, grade F, #396 of 399 statewide, top 99%, 2,255 students, 56% FRL) — zoned schools average 60% FRL vs 80% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 84 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 42% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 19 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago 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.
• Current owner paid $148k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $199,600 (7.2% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.93% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $262,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
775 Chambers St	0.07mi	4/1.0 (+1)	1,028 (+5%)	18mo	$185,000	$180	69
811 Anderson St	0.44mi	2/1.0 (-1)	1,026 (+5%)	0mo	$206,000	$201	66
162 E Franklin St	0.46mi	3/1.0	960 (-2%)	14mo	$270,000	$281	63
100 Wagner St	0.70mi	3/1.0	928 (-5%)	0mo	$320,000	$345	58
1045 Fairmount Ave	0.49mi	3/1.0	1,078 (+10%)	4mo	$240,000	$223	57
861 Lyndale Ave	0.42mi	3/1.0	1,046 (+7%)	20mo	$280,000	$268	53
59 Pierce Ave	0.61mi	2/1.0 (-1)	952 (-3%)	15mo	$225,000	$236	49
1051 Quinton Ave	0.37mi	4/1.0 (+1)	1,116 (+14%)	11mo	$295,000	$264	45
212 Tioga St	0.58mi	4/1.5 (+1)	1,127 (+15%)	2mo	$298,000	$264	39
612 Tindall Ave	0.62mi	2/1.0 (-1)	910 (-7%)	18mo	$315,000	$346	39
36 Emanuel St	0.57mi	2/1.0 (-1)	1,127 (+15%)	13mo	$370,000	$328	32
618 E Franklin St	0.66mi	2/1.5 (-1)	1,075 (+10%)	17mo	$315,000	$293	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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.59×
• Total profit: $-24,512
• Equity at exit: $32,057

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,354
• Equity at exit: $18,589

Cash invested: $60,200 (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 08611

• Rents YoY: 4.7%
• Active inventory: 84
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,996 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$253 /mo · $3,033/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $107

Break-even live

Break-even rent $1,861

Max offer price $215,000

Occupancy floor 90%

Sensitivity live

Price	-10% $229	-5% $168	+0% $107	+5% $46	+10% $-15
Rent	-10% $-51	-5% $28	+0% $107	+5% $186	+10% $265
Rate	-1.0pp $215	-0.5pp $162	base $107	+0.5pp $51	+1.0pp $-5

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	23d	1	0.15mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	23d	1	0.27mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	23d	1	0.36mi
837 Genesee St Trenton, NJ	2.0	1.0	850	$1,700	$2.00	23d	1	0.62mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	15d	4	0.66mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	23d	1	0.68mi
225 Home Ave Trenton, NJ	2.0	1.0	800	$1,750	$2.19	23d	1	0.72mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	23d	1	0.76mi
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	15d	1	0.77mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	23d	1	0.94mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	0.94mi
191 Parkinson Ave Trenton, NJ	2.0	1.0	664	$2,400	$3.61	15d	1	1.01mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	15d	1	1.03mi
547 Centre St Trenton, NJ	3.0	1.0	1060	$1,850	$1.75	23d	1	1.06mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	1.13mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	15d	2	1.14mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	23d	1	1.21mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	23d	1	1.24mi
315 Wert Ave Trenton, NJ	2.0	1.0	685	$2,270	$3.31	14d	9	1.28mi

Listing history 24 events

1. 2026-06-14
   status $215,000 Pending 19 DOM
2. 2026-05-19
   historical Under Contract - Attorney Review 352-char remark

   Show marketing remark (352 chars)

   Well-maintained 3-bedroom, 1 full bath home. Property is tenant-occupied Lease in place through June 1. Tenant pays on time and maintains the property in good condition. Buyer responsible for verifying all lease terms and occupancy status. Property is being sold strictly as-is. Buyer responsible for all inspections, certifications, and due diligence.

3. 2026-05-18
   historical Active Under Contract
4. 2026-04-30
   listed $215,000 Active
5. 2026-04-28
   historical $215,000
6. 2026-04-21
   listed $215,000 Active 352-char remark

   Show marketing remark (352 chars)

   Well-maintained 3-bedroom, 1 full bath home. Property is tenant-occupied Lease in place through June 1. Tenant pays on time and maintains the property in good condition. Buyer responsible for verifying all lease terms and occupancy status. Property is being sold strictly as-is. Buyer responsible for all inspections, certifications, and due diligence.

7. 2023-06-20
   soldstatus $148,000
8. 2023-06-15
   historical 324-char remark

   Show marketing remark (324 chars)

   Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

9. 2023-06-14
   soldstatus $148,000 Closed 324-char remark

   Show marketing remark (324 chars)

   Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

10. 2023-03-21
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

11. 2023-03-16
    historical Active Under Contract 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

12. 2023-03-04
    status Active 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

13. 2023-02-21
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

14. 2023-02-16
    historical Active Under Contract 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

15. 2023-02-01
    listed $132,900 Active 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

16. 2023-01-29
    historical $132,900 324-char remark

    Show marketing remark (324 chars)

    Well maintained home, ready to move-in or purchase as an investment property with an established tenant paying $1,500. per month. Home shows well, hardwood floors, ceramic tile. Living room, formal dining room, eat-in kitchen. Three bedrooms and bath. Call today to schedule your tour. FINAL AND BEST, FRIDAY, MARCH 10 @ 5PM

17. 2016-12-30
    historical
18. 2016-06-20
    listed $49,000
19. 2007-10-16
    historical
20. 2007-07-16
    listed $115,000
21. 2007-04-24
    soldstatus $88,900
22. 2007-04-13
    historical
23. 2007-03-15
    listed $88,900
24. 2004-07-27
    soldstatus $75,000

ⓘ 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: $3,033 · $253/mo
• Projected year-2 tax: $4,193 · $349/mo
• Expected delta: +$1,160/yr (+$97/mo · 38.2%)

ⓘ 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: $23,952
• − Mortgage interest: −$12,043
• − Property taxes: −$3,033
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$6,255
• Taxable loss: −$2,287
• Est. tax savings @ 24.0%: +$549
• After-tax cash flow: $1,833/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): 31,995
• Household income: $56,788
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 2147.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 62% Black 20% Two or more races 18% White 14% Native American 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 2% Swiss 1% Hispanic 1%
• Foreign-born: 37% · Canada, Jamaica, Guatemala
• Languages at home: 41% English-only · Spanish 57% French/Haitian/Cajun 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: ▼ -267.62%
• Current HPI: 276.5427
• Rent YoY: ▲ 4.71%
• 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

+186.7% since first listed

23 events — show timeline

• 2026-05-19 Contingent — CJMLS
• 2026-05-18 Contingent — BRIGHT MLS
• 2026-04-30 Listed $215,000 BRIGHT MLS
• 2026-04-28 Coming Soon $215,000 BRIGHT MLS
• 2026-04-21 Listed $215,000 CJMLS
• 2023-06-20 Sold (Public Records) $148,000 Public Records
• 2023-06-15 Listing Removed — BRIGHT MLS
• 2023-06-14 Sold (MLS) $148,000 BRIGHT MLS
• 2023-03-21 Pending — BRIGHT MLS
• 2023-03-16 Contingent — BRIGHT MLS
• 2023-03-04 Relisted — BRIGHT MLS
• 2023-02-21 Pending — BRIGHT MLS
• 2023-02-16 Contingent — BRIGHT MLS
• 2023-02-01 Listed $132,900 BRIGHT MLS
• 2023-01-29 Coming Soon $132,900 BRIGHT MLS
• 2016-12-30 Listing Removed — BRIGHT MLS
• 2016-06-20 Listed $49,000 BRIGHT MLS
• 2007-10-16 Listing Removed — BRIGHT MLS
• 2007-07-16 Listed $115,000 BRIGHT MLS
• 2007-04-24 Sold (MLS) $88,900 BRIGHT MLS
• 2007-04-13 Listing Removed — BRIGHT MLS
• 2007-03-15 Listed $88,900 BRIGHT MLS
• 2004-07-27 Sold (Public Records) $75,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $3,033 · +1.5% YoY. Source: county tax records.