270-270A Sitgreaves St · Phillipsburg, NJ 08865-3103

$369,999

4 bd · 4.0 ba · 1,768 sqft · MultiFamily · 33 Days on market

Good condition 2,613 sqft lot $209/sqft · 20% below area Est $462k · 20% 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 +15.9/30.0
• ARV discount +15.0/15.0
• Appreciation +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to this renovated duplex (both units), offering an exceptional opportunity for both owner-occupants and investors. Recent updates have been made to the roof and other key areas of the home, adding value and peace of mind for future ownership. Each unit features two spacious bedrooms and one full bathroom, along with a comfortable living room, a dedicated dining area, and a well-sized kitchen suited for everyday living. Just off the kitchen, a versatile back room includes laundry hookups and additional space ideal for storage or extended functionality. Upstairs, both units offer two generously sized bedrooms, with the main bathroom conveniently situated between them. A walk-up attic

Key facts

• 2,613 sq ft lot
• 4 parking spots
• Listed 33 days

Property features AI

Finance

• Financial info: Property is a 2-unit building; Reported net operating income: $0; Reported gross operating income: $0; Reported total operating expenses: $0

Exterior

• Parking: 4 parking spaces; On-street parking; Exclusive parking lot
• Utilities: All underground utilities; Public water; Public sewer
• Home design: Two-story duplex (side-by-side); Renovated in 2020; Level lot
• Construction: Vinyl siding; Asphalt shingle roof; Unfinished basement
• Exterior features: Sidewalk; See remarks

Interior

• Kitchen: Dishwasher (each unit); Gas range/oven (each unit); Refrigerator (each unit); Eat-in kitchen (each unit)
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Attic access in each unit
• Flooring: Tile floors; Vinyl/linoleum floors
• Bathrooms: 2 full bathrooms in each unit
• Heating & cooling: Forced hot air heating (2 units); Natural gas fuel; Central air conditioning (1 unit)
• Interior features: Blinds; Fire extinguisher; Smoke detector; Tile floors; Vinyl/linoleum floors; See remarks
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $370k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive. Per door: $55/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 $346k (6.5% below list).
• Recommended offer: $346k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.9% in Phillipsburg — 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 (#135 in NJ, #3,552 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools C-, commute F.
• Phillipsburg School District (suburban): math 17% / reading 37% proficiency, ranked #381 of 472 in NJ (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 630 units permitted in Warren County in 2024 (315 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($3k loan paydown + $11k appreciation (3.0% local appreciation)).
• Warren County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $104k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $65k; list at $370k implies a 469% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $346,100 (6.5% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 6% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.94% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $461,709
• List price: $369,999
• Delta: -19.86%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.7%
• Equity multiple: 1.50×
• Total profit: $51,719
• Equity at exit: $166,368

10-year hold

• IRR: 11.2%
• Equity multiple: 2.68×
• Total profit: $174,413
• Equity at exit: $256,392

Cash invested: $103,600 (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 08865-3103

• Active inventory: 2
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $3,461 high
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $111

Break-even live

Break-even rent $3,321

Max offer price $369,999

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,460
Total (2 units)			$3,461

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
689 Sayre Ave Phillipsburg, NJ	4.0	1.5	1376	$2,200	$1.60	2d	1	0.31mi
355 Thomas St Phillipsburg, NJ	3.0	1.5	1400	$2,250	$1.61	11d	1	0.39mi
226 Vista Dr Easton, PA	3.0	1.5	1358	$2,195	$1.62	2d	1	0.81mi
199 Cedar Park Blvd Easton, PA	1.0–3.0	1.0–4.0	1410	$3,035	$2.15	2d	10	1.16mi
103 Highlands Cir Easton, PA	4.0	2.5	1955	$3,400	$1.74	2d	1	1.17mi
61 Rose St Phillipsburg, NJ	4.0	1.0	2000	$2,500	$1.25	2d	1	1.23mi
322 Saint John St Easton, PA	3.0	1.5	1583	$1,895	$1.20	44d	1	1.39mi

Listing history 18 events

1. 2026-06-13
   status $369,999 Under Contract 33 DOM
2. 2026-06-10
   days on market $369,999 Active 33 DOM
3. 2026-06-09
   days on market $369,999 Active 32 DOM
4. 2026-06-08
   days on market $369,999 Active 31 DOM
5. 2026-06-07
   days on market $369,999 Active 30 DOM
6. 2026-06-05
   days on market $369,999 Active 27 DOM
7. 2026-06-03
   days on market $369,999 Active 26 DOM
8. 2026-06-02
   days on market $369,999 Active 25 DOM
9. 2026-06-01
   days on market $369,999 Active 24 DOM
10. 2026-05-31
    days on market $369,999 Active 23 DOM
11. 2026-05-31
    days on market $369,999 Active 22 DOM
12. 2026-05-08
    listed $384,999 Active 1500-char remark
13. 2026-04-30
    historical $384,999 1500-char remark
14. 2019-10-23
    soldstatus $65,000 Sold
15. 2019-09-30
    historical
16. 2019-09-18
    status Active
17. 2019-08-21
    historical
18. 2019-08-10
    listed $80,000 Active

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,532
• − Mortgage interest: −$20,726
• − Property taxes: −$5,550
• − Insurance: −$2,647
• − Repairs & maintenance: −$3,323
• − Management: −$3,323
• − Depreciation: −$10,764
• Taxable loss: −$4,800
• Est. tax savings @ 24.0%: +$1,152
• After-tax cash flow: $2,481/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

Good 80/100 Cosmetic rehab

This renovated duplex is in excellent condition with recent updates, making it an attractive investment opportunity.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New ceiling fans — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New ceiling fans — Improves comfort and energy efficiency ↑

ⓘ 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: Phillipsburg School District
• NCES district ID: 3412960
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $45,364
• Composite: 23.2/100
• National rank: #7943
• State rank: #381 of 472 in NJ

Livability — Phillipsburg

• Score: 76/100
• State rank: #135
• US rank: #3552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phillipsburg, NJ

Population outlook (Warren County) Hauer SSP2

• Today (2025): 105,498 people
• By 2030: 103,974 · -1.4%
• By 2040: 99,748 · -5.5%
• By 2050: 94,535 · -10.4%
• By 2075: 87,220 · -17.3%
• By 2100: 80,421 · -23.8%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+362.5% since first listed

9 events — show timeline

• 2026-06-10 Pending — GSMLS
• 2026-05-23 Price Changed $369,999 GSMLS
• 2026-05-08 Listed $384,999 GSMLS
• 2026-04-30 Coming Soon $384,999 GSMLS
• 2019-10-23 Sold (MLS) $65,000 GSMLS
• 2019-09-30 Delisted — GSMLS
• 2019-09-18 Relisted — GSMLS
• 2019-08-21 Delisted — GSMLS
• 2019-08-10 Listed $80,000 GSMLS