120-122 Lodi St · Hackensack, NJ 07601

$1,899,999

None bd · None ba · — sqft · MultiFamily · 50 Days on market

Fair condition

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Why this score? — see what drove the D+ 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 +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Welcome to this Unique Investment Opportunity! This is a legal 8 unit, residential apartment within 3 separate buildings. 4-1 bedroom units, 3-2 bedroom units and a 1-3 bedroom unit. This phenomenal property has been well kept with updates in the last 10 years. This great complex boasts 13 bedrooms, 8 bathrooms and most units with separate utilities. All units currently occupied. The Parking lot consists of 8 parking spaces and a possible tandem 2 car in the alley/driveway adjacent to building 120. Located in a 60x100 lot, yields a 5.5 cap rate with a net annual income of $96,848.

Key facts

• Separate utilities
• 3 separate buildings
• Close to shopping

Tags

• 8 UNIT RESIDENTIAL PROPERTY
• 3 SEPARATE BUILDINGS
• 8 PARKING SPACES
• SEPARATE UTILITIES
• CLOSE TO NYC TRANSPORT
• CLOSE TO SHOPPING

Property features AI

Exterior

• Home design: Residential income property; Mixed-use
• Exterior features: Flat roof

What this means for you Summary

Snapshot

• This is a 6×1bd/1ba + 1×2bd/1ba + 1×3bd/1ba units multifamily listed at $1.90M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $193/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.86M (2.2% below list).
• Recommended offer: $1.84M (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.9% in Hackensack — 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 83/100 on livability (#34 in NJ, #850 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Hackensack School District (suburban): math 11% / reading 35% proficiency, ranked #405 of 472 in NJ (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.8%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• At $18,577/mo this rent would consume 265% of the median local household income ($84k/yr) (locally 3524% 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.
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($1.84M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $1.31M; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $1,842,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $841,421
• List price: $1,899,999
• Delta: 125.81%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 Cleveland St	0.13mi	4/3.0	—	4mo	$950,000	—	78
70 Pink St	0.15mi	7/4.0	—	6mo	$900,000	—	76
146 Hobart St	0.17mi	5/2.0	—	6mo	$590,000	—	75
125 Kansas St	0.18mi	3/2.0	—	7mo	$599,000	—	73
13A Wilson St	0.24mi	3/2.5	—	7mo	$560,000	—	71
129 Hudson St	0.26mi	4/3.0	—	6mo	$750,000	—	70
90 Dewitt Pl	0.36mi	3/3.0	—	4mo	$690,000	—	67
337 Hudson St	0.60mi	6/2.0	—	2mo	$625,000	—	58
119 Union St	0.55mi	7/3.0	—	5mo	$780,000	—	58
352 Chestnut Ave	0.58mi	4/2.0	—	5mo	$732,000	—	57
418 Taylor Ave	0.74mi	4/2.5	—	3mo	$655,000	—	50
80 PHILLIPS Ave	0.68mi	4/2.0	—	6mo	$790,000	—	50

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 · 3.76% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-194,864
• Equity at exit: $283,296

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $17,839
• Equity at exit: $164,277

Cash invested: $532,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City Hackensack: 0 Strongly Tenant-Friendly · D+12

Rent Leveling Ordinance.

Methodology + full state rankings →

ZIP-level market 07601

• Rents YoY: 3.8%
• Active inventory: 94
• Price-to-rent: 73.8×

Monthly cashflow live

• Estimated rent: $18,577 high
• Mortgage (P&I): −$9,964
• Tax est. 1.5%: −$2,375 /mo · $28,500/yr
• Insurance: −$792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,901
• Net cashflow: $1,545

Break-even live

Break-even rent $16,621

Max offer price $1,899,999

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$12,870
1× unit	2	1	$2,575
1× unit	3	1	$3,130
Total (8 units)			$18,577

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: $475,000
• Closing costs: $57,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92 Troast St Hackensack, NJ	1.0	1.0	—	$1,100	—	44d	1	0.07mi
75 Lodi St Hackensack, NJ	3.0	1.0	—	$2,850	—	21d	1	0.11mi
70 Pink St Unit 2 Hackensack, NJ	3.0	2.0	—	$3,200	—	44d	1	0.13mi
90 Ackerson St Unit 1st Floor Hackensack, NJ	2.0	1.0	—	$2,400	—	44d	1	0.18mi
39 Lodi St Unit 2 Hackensack, NJ	1.0	1.0	—	$1,850	—	8d	1	0.18mi
186 S Main St Unit 2 Hackensack, NJ	2.0	1.0	—	$2,000	—	44d	1	0.19mi
17 Wilson St South Hackensack, NJ	1.0	1.0	—	$1,950	—	25d	1	0.21mi
100 Kansas St Unit 2 Hackensack, NJ	1.0	1.0	—	$1,950	—	44d	1	0.23mi
22 Broadway Unit 2 Hackensack, NJ	3.0	1.0	—	$2,600	—	44d	1	0.24mi
43 Jackson Ave #1 Hackensack, NJ	3.0	3.5	—	$3,800	—	44d	1	0.27mi
45 Jackson Ave #2 Hackensack, NJ	3.0	2.5	—	$4,100	—	44d	1	0.27mi
52 Reilly Ct Hackensack, NJ	3.0	2.5	—	$3,900	—	3d	1	0.28mi
52 Reilly Ct #1 Hackensack, NJ	3.0	2.5	—	$4,000	—	44d	1	0.28mi
90 Essex St Hackensack, NJ	1.0	1.0	—	$1,825	—	25d	1	0.32mi
233 Jackson Ave Hackensack, NJ	3.0	1.0	—	$2,900	—	25d	1	0.33mi
90 Dewitt Pl Unit 2 Hackensack, NJ	3.0	1.0	—	$3,000	—	8d	1	0.39mi
39 Union St #402 Hackensack, NJ	3.0	3.0	—	$3,500	—	5d	1	0.41mi
22 Sussex St Unit D Hackensack, NJ	1.0	1.0	836	$2,550	$3.05	44d	1	0.43mi
32 Franklin St Unit 2 Hackensack, NJ	2.0	1.0	—	$2,800	—	22d	1	0.44mi
22 Sussex St Hackensack, NJ	1.0	1.0	837	$2,600	$3.11	2d	1	0.44mi
75 Union St Hackensack, NJ	2.0	2.0	1200	$3,000	$2.50	25d	1	0.49mi
70 Polifly Rd Hackensack, NJ	1.0	1.0	500	$2,395	$4.79	25d	6	0.51mi
100 State St Hackensack, NJ	1.0–2.0	1.0	831	$2,925	$3.52	6d	10	0.52mi
100 Polifly Rd Hackensack, NJ	2.0	1.0	575	$2,295	$3.99	3d	7	0.52mi
54 Polifly Rd #311 Hackensack, NJ	2.0	2.0	1220	$2,995	$2.45	25d	1	0.52mi
309 Hudson St Hackensack, NJ	1.0	1.0	—	$1,525	—	21d	1	0.53mi
54 Polifly Rd #311 Hackensack, NJ	2.0	2.0	—	$2,995	—	44d	1	0.54mi
47 Polifly Rd Unit 1A Hackensack, NJ	1.0	1.0	—	$2,000	—	25d	1	0.55mi
47 Polifly Rd Unit 1A Hackensack, NJ	1.0	1.0	—	$2,000	—	44d	1	0.55mi
115 Polifly Rd Hackensack, NJ	2.0	2.0	—	$2,850	—	3d	1	0.56mi
115 Polifly Rd Hackensack, NJ	1.0–2.0	1.0–2.0	—	$2,850	—	25d	3	0.57mi
115 Polifly Rd Hackensack, NJ	1.0–2.0	1.0–2.0	—	$2,850	—	15d	2	0.57mi
216 Mary St Unit 4A Hackensack, NJ	1.0	1.0	—	$1,675	—	5d	1	0.58mi
129 Union St Hackensack, NJ	2.0	1.0	—	$2,400	—	25d	1	0.60mi
345 Hudson St Unit 3 Hackensack, NJ	2.0	1.0	—	$2,350	—	44d	1	0.60mi
114 Atlantic St #2 Hackensack, NJ	2.0	1.0	—	$2,500	—	44d	1	0.61mi
114 Atlantic St Unit 1 Hackensack, NJ	1.0	2.0	—	$2,400	—	44d	1	0.61mi
263 Sutton Ave Hackensack, NJ	3.0	2.0	—	$3,600	—	44d	1	0.61mi
154 Ames St Hackensack, NJ	2.0	1.0	—	$2,800	—	22d	1	0.62mi
136 State St Hackensack, NJ	1.0	1.0	—	$1,975	—	44d	1	0.62mi

Listing history 19 events

1. 2026-06-18
   days on market $1,899,999 Active 50 DOM
2. 2026-06-17
   days on market $1,899,999 Active 49 DOM
3. 2026-06-16
   days on market $1,899,999 Active 48 DOM
4. 2026-06-15
   days on market $1,899,999 Active 47 DOM
5. 2026-06-13
   days on market $1,899,999 Active 45 DOM
6. 2026-06-13
   days on market $1,899,999 Active 44 DOM
7. 2026-06-09
   days on market $1,899,999 Active 41 DOM
8. 2026-06-08
   days on market $1,899,999 Active 40 DOM
9. 2026-06-07
   days on market $1,899,999 Active 39 DOM
10. 2026-06-04
    days on market $1,899,999 Active 36 DOM
11. 2026-06-03
    days on market $1,899,999 Active 35 DOM
12. 2026-06-02
    days on market $1,899,999 Active 34 DOM
13. 2026-06-01
    days on market $1,899,999 Active 33 DOM
14. 2026-05-31
    days on market $1,899,999 Active 32 DOM
15. 2026-05-04
    price $1,899,999 557-char remark
16. 2026-04-29
    listed $1,999,000 Active 557-char remark
17. 2023-03-03
    soldstatus $1,310,000 Sold 587-char remark

    Show marketing remark (587 chars)

    Welcome to this Unique Investment Opportunity! This is a legal 8 unit, residential apartment within 3 separate buildings. 4-1 bedroom units, 3-2 bedroom units and a 1-3 bedroom unit. This phenomenal property has been well kept with updates in the last 10 years. This great complex boasts 13 bedrooms, 8 bathrooms and most units with separate utilities. All units currently occupied. The Parking lot consists of 8 parking spaces and a possible tandem 2 car in the alley/driveway adjacent to building 120. Located in a 60x100 lot, yields a 5.5 cap rate with a net annual income of $96,848.

18. 2022-09-14
    historical Under Contract 587-char remark

    Show marketing remark (587 chars)

    Welcome to this Unique Investment Opportunity! This is a legal 8 unit, residential apartment within 3 separate buildings. 4-1 bedroom units, 3-2 bedroom units and a 1-3 bedroom unit. This phenomenal property has been well kept with updates in the last 10 years. This great complex boasts 13 bedrooms, 8 bathrooms and most units with separate utilities. All units currently occupied. The Parking lot consists of 8 parking spaces and a possible tandem 2 car in the alley/driveway adjacent to building 120. Located in a 60x100 lot, yields a 5.5 cap rate with a net annual income of $96,848.

19. 2022-07-21
    listed $1,400,000 Active 587-char remark

    Show marketing remark (587 chars)

    Welcome to this Unique Investment Opportunity! This is a legal 8 unit, residential apartment within 3 separate buildings. 4-1 bedroom units, 3-2 bedroom units and a 1-3 bedroom unit. This phenomenal property has been well kept with updates in the last 10 years. This great complex boasts 13 bedrooms, 8 bathrooms and most units with separate utilities. All units currently occupied. The Parking lot consists of 8 parking spaces and a possible tandem 2 car in the alley/driveway adjacent to building 120. Located in a 60x100 lot, yields a 5.5 cap rate with a net annual income of $96,848.

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $222,924
• − Mortgage interest: −$106,429
• − Property taxes: −$28,500
• − Insurance: −$9,500
• − Repairs & maintenance: −$17,834
• − Management: −$17,834
• − Depreciation: −$55,273
• Taxable loss: −$12,446
• Est. tax savings @ 24.0%: +$2,987
• After-tax cash flow: $21,531/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance to improve its condition and value. Painting, cleaning, and updating the kitchen and bathrooms would significantly enhance its appeal and marketability.

Repairs flagged

• Moderate kitchen cabinets — Cabinets appear worn and need cleaning
• Moderate bathroom fixtures — Fixtures appear old and need cleaning
• Moderate exterior siding — Siding appears worn and may need repainting

Value-add opportunities

• Both painting and cleaning — Painting and cleaning would improve appearance and functionality
• Both kitchen and bathroom updates — Updating these areas would improve functionality and appeal
• Both exterior repainting — Repainting the exterior would improve curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Cabinets appear worn and need cleaning	Moderate	$3,000–15,000
bathroom fixtures · Fixtures appear old and need cleaning	Moderate	$3,000–15,000
exterior siding · Siding appears worn and may need repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both painting and cleaning — Painting and cleaning would improve appearance and functionality ↑
• Both kitchen and bathroom updates — Updating these areas would improve functionality and appeal ↑
• Both exterior repainting — Repainting the exterior would improve curb appeal and value ↑

ⓘ 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: Hackensack School District
• NCES district ID: 3406270
• Math proficiency: 11% ▼ -19.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $57,580
• Composite: 21.03/100
• National rank: #8453
• State rank: #405 of 472 in NJ

Livability — Hackensack

• Score: 83/100
• State rank: #34
• US rank: #850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hackensack, NJ
• County: Bergen County · 586,961 people
• City population: 46,057
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 46,057
• Household income: $84,277
• Rent vs Own: 63.4% rent · 36.6% own
• Severe rent burden: 3524.0

Population outlook (Bergen County) Hauer SSP2

• Today (2025): 1,021,896 people
• By 2030: 1,063,119 · +4.0%
• By 2040: 1,146,566 · +12.2%
• By 2050: 1,229,132 · +20.3%
• By 2075: 1,429,694 · +39.9%
• By 2100: 1,547,614 · +51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 36% White 28% Black 20% Two or more races 14% Asian 12%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Dominican 10%
• Common ancestry: Romanian 2% Scotch-Irish 1% Hispanic 1%
• Foreign-born: 40% · Canada, Jamaica, South Korea
• Languages at home: 49% English-only · Spanish 31% Other Indo-European 5% Other Asian/Pacific 4%

Political lean MEDSL · Bergen

• 2024 margin: Toss-up / Even · D 50.7% · R 47.3% · Other 2.0%
• 2008→2024 swing: -6.1pp toward R · 2008: 9.5pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+16.4 2016: D+12.0 2012: D+10.8 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.41%
• Current HPI: 298.1434
• Rent YoY: ▲ 3.76%
• 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

+35.7% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $1,899,999 NJMLS
• 2026-04-29 Listed $1,999,000 NJMLS
• 2023-03-03 Sold (MLS) $1,310,000 NJMLS
• 2022-09-14 Contingent — NJMLS
• 2022-07-21 Listed $1,400,000 NJMLS