71 Unionville Ave #2 · Sussex, NJ 07461-2130

$325,000

3 bd · 2.0 ba · — sqft · Condo · 221 Days on market

Built 1900 ↓ 7% since listing

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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 +10.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Fantastic opportunity for owner-occupant or investor! This spacious 2-family home in the heart of Sussex Borough features two separate units and a large garage underneath, perfect for vehicles or storage. Each unit offers ca omfortable living space with great natural light and flexible layouts.

Key facts

• 8,712 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Property configured as a 2-unit building; Gross operating income reported at $30,000; Net operating income reported as $0; Total operating expenses reported as $0; Unit 1 rent: $1,700; Unit 2 rent: $800

Exterior

• Parking: 4 parking spaces; Gravel driveway parking/driveway
• Utilities: All utilities underground; Electric service available; Natural gas available; Public water; Public sewer
• Home design: Two-story unit style
• Construction: Approximate year built; Cinder block and wood construction; Asphalt shingle roof
• Exterior features: Cinder block siding; Wood siding; Asphalt shingle roof; Gravel driveway

Interior

• Kitchen: Range/Oven - Electric (Unit 1 and Unit 2); Refrigerator (Unit 1 and Unit 2)
• Bedrooms: Unit 1: 2 bedrooms (single level); Unit 2: 1 bedroom (single level)
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Steam radiators heating (single heating unit); Natural gas heating source; Cooling: see remarks
• Interior features: 8 total rooms; Eat-in kitchens in both units; Living rooms in both units; Bedrooms included in room descriptions
• Laundry & utility: Tenants pay for electric, gas, heat, and water (both units)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $-198 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $259k (20.2% below list).
• Recommended offer: $259k (20.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#407 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: employment C-, cost of living D, amenities F.
• Sussex-Wantage Regional School District (rural): math 19% / reading 45% proficiency, ranked #304 of 472 in NJ (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Clifton E. Lawrence (388 students, 26% FRL); Sussex Middle School (math 16% / reading 49%, grade F, #279 of 431 statewide, top 66%, 312 students, 26% FRL); High Point Regional High School District (math 21% / reading 47%, grade F, #243 of 399 statewide, top 63%, 817 students, 16% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 184 units permitted in Sussex County in 2024 (18 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• Sussex County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 221 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,200 (20.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 221 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.62%
• DSCR: 0.88
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.1%
• Equity multiple: 1.29×
• Total profit: $26,559
• Equity at exit: $146,134

10-year hold

• IRR: 8.2%
• Equity multiple: 2.23×
• Total profit: $112,354
• Equity at exit: $225,210

Cash invested: $91,000 (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 07461-2130

• Active inventory: 1
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,592 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $-198

Break-even live

Break-even rent $2,843

Max offer price $296,302

Occupancy floor —

Sensitivity live

Price	-10% $26	-5% $-86	+0% $-198	+5% $-311	+10% $-423
Rent	-10% $-403	-5% $-301	+0% $-198	+5% $-96	+10% $6
Rate	-1.0pp $-35	-0.5pp $-116	base $-198	+0.5pp $-283	+1.0pp $-368

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Unionville Ave Unit C Sussex, NJ	4.0	2.5	—	$3,350	—	15d	1	0.09mi
48 Unionville Ave Unit A Sussex, NJ	3.0	2.0	—	$2,950	—	15d	1	0.09mi
1 Wilson Rd Unit 14B Sussex, NJ	2.0	1.0	810	$1,900	$2.35	15d	1	0.20mi
36 E Main St Unit A Sussex, NJ	2.0	1.0	—	$1,800	—	5d	1	0.25mi
89 Main St Unit 2 Sussex, NJ	3.0	1.5	—	$2,650	—	15d	1	0.32mi
89 Main St Unit A Sussex, NJ	2.0	1.0	—	$2,250	—	15d	1	0.32mi
8 Newton Ave Sussex, NJ	2.0	1.0	—	$1,595	—	1d	1	0.35mi
35 Main St Sussex, NJ	2.0	1.0	—	$1,700	—	22d	1	0.39mi
43 Clove Ave Unit 1 Wantage, NJ	2.0	1.0	—	$3,499	—	15d	1	0.42mi
707 State Rt 23 Wantage, NJ	3.0	2.0	—	$2,300	—	4d	1	0.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-13
   statusdays on market $325,000 Under Contract 221 DOM
2. 2026-06-10
   days on market $325,000 Active 220 DOM
3. 2026-06-09
   days on market $325,000 Active 219 DOM
4. 2026-06-08
   days on market $325,000 Active 218 DOM
5. 2026-06-07
   days on market $325,000 Active 217 DOM
6. 2026-06-04
   days on market $325,000 Active 214 DOM
7. 2026-06-03
   days on market $325,000 Active 213 DOM
8. 2026-06-02
   days on market $325,000 Active 212 DOM
9. 2026-06-01
   days on market $325,000 Active 211 DOM
10. 2026-05-31
    days on market $325,000 Active 210 DOM
11. 2026-04-07
    price $325,000
12. 2025-11-17
    status Active
13. 2025-11-06
    status Under Contract
14. 2025-10-22
    listed $349,900 Active

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

Taxation est. · year 1

• Rental income: $31,104
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,488
• − Management: −$2,488
• − Depreciation: −$9,455
• Taxable loss: −$8,032
• Est. tax savings @ 24.0%: +$1,928
• After-tax cash flow: $-452/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: Sussex-Wantage Regional School District
• NCES district ID: 3415960
• Math proficiency: 19% ▼ -25.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $75,187
• Composite: 30.16/100
• National rank: #6323
• State rank: #304 of 472 in NJ

Livability — Sussex

• Score: 64/100
• State rank: #407
• US rank: #14224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sussex, NJ

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 133,413 people
• By 2030: 127,324 · -4.6%
• By 2040: 113,987 · -14.6%
• By 2050: 100,391 · -24.8%
• By 2075: 78,063 · -41.5%
• By 2100: 62,346 · -53.3%

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

-7.1% since first listed

4 events — show timeline

• 2026-04-07 Price Changed $325,000 GSMLS
• 2025-11-17 Relisted — GSMLS
• 2025-11-06 Pending — GSMLS
• 2025-10-22 Listed $349,900 GSMLS