3 Harrison Ave · Hopewell, NJ 08560

$349,900

3 bd · 1.0 ba · 1,612 sqft · SingleFamily public records · 177 Days on market

Built 1920 6,534 sqft lot $217/sqft · 30% below area Est $501k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 2.3% in Hopewell — 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 (#125 in NJ, #3,403 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities D, commute F, cost of living F.
• Hopewell Valley Regional School District (suburban): math 39% / reading 66% proficiency, ranked #72 of 472 in NJ (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 2% free/reduced lunch — higher-income household profile.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $177k; list at $350k implies a 98% 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: 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 $307,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 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 A-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?
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: 2.03% ✓
• Cap rate: 16.51%
• Cash-on-cash: 36.49%
• DSCR: 2.62
• GRM: 4.1

CMA / ARV

• ARV (median comp): $501,306
• List price: $349,900
• Delta: -30.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Morgan Ave	0.09mi	3/1.0	1,406 (-13%)	7mo	$360,500	$256	69
25 Patterson Ave	0.07mi	4/2.0 (+1)	1,731 (+7%)	15mo	$511,000	$295	63
36 Wilfred Ave	0.22mi	4/3.0 (+1)	1,657 (+3%)	22mo	$400,000	$241	53
41 Wilfred Ave	0.21mi	3/1.0	1,408 (-13%)	19mo	$445,000	$316	53
1083 General Greene Rd	0.52mi	4/1.5 (+1)	1,416 (-12%)	11mo	$400,000	$282	40
1264 General Mercer Ave	0.72mi	4/2.0 (+1)	1,819 (+13%)	23mo	$517,000	$284	17

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.36×
• Total profit: $133,274
• Equity at exit: $52,171

10-year hold

• IRR: 39.4%
• Equity multiple: 4.69×
• Total profit: $361,332
• Equity at exit: $30,253

Cash invested: $97,972 (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 08560

• Home prices YoY: -18.6%
• Active inventory: 86
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $7,100 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$649 /mo · $7,791/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,491
• Net cashflow: $2,979

Break-even live

Break-even rent $3,329

Max offer price $349,900

Occupancy floor 53%

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 River Dr Unit 1336812P Titusville, NJ	2.0	1.5	1496	$7,100	$4.75	43d	1	1.28mi

Listing history 35 events

1. 2026-06-18
   days on market $349,900 Active 177 DOM
2. 2026-06-17
   days on market $349,900 Active 176 DOM
3. 2026-06-16
   days on market $349,900 Active 175 DOM
4. 2026-06-15
   days on market $349,900 Active 174 DOM
5. 2026-06-14
   days on market $349,900 Active 172 DOM
6. 2026-06-10
   days on market $349,900 Active 169 DOM
7. 2026-06-09
   days on market $349,900 Active 168 DOM
8. 2026-06-08
   days on market $349,900 Active 167 DOM
9. 2026-06-07
   days on market $349,900 Active 166 DOM
10. 2026-06-03
    days on market $349,900 Active 162 DOM
11. 2026-06-02
    days on market $349,900 Active 161 DOM
12. 2026-06-01
    days on market $349,900 Active 160 DOM
13. 2026-05-31
    days on market $349,900 Active 159 DOM
14. 2026-05-30
    days on market $349,900 Active 158 DOM
15. 2026-05-16
    price $349,900 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

16. 2026-05-16
    status Active 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

17. 2026-05-15
    historical 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

18. 2026-03-26
    price $379,900 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

19. 2026-03-26
    status Active 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

20. 2026-03-13
    status Pending 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

21. 2026-02-22
    historical Active Under Contract 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

22. 2026-01-10
    price $384,900 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

23. 2025-11-21
    listed $389,900 Active 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

24. 2025-11-17
    historical $389,900 160-char remark

    Show marketing remark (160 chars)

    3-bedroom detached home in move-in condition. Fenced-in yard, newer 3-zoned heating system, oversized well pressure tank, 2-year-old well pump, freshly painted.

25. 2013-05-29
    soldstatus $177,000
26. 2013-05-28
    soldstatus $177,000 Sold 521-char remark

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

27. 2013-05-28
    soldstatus $177,000

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

28. 2013-05-21
    status Under Contract 521-char remark

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

29. 2013-03-25
    historical
30. 2013-03-16
    price $184,900 521-char remark

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

31. 2012-10-22
    price $189,900 521-char remark

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

32. 2012-07-12
    listed $199,900 Active 521-char remark

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

33. 2012-07-12
    listed $184,900

    Show marketing remark (521 chars)

    BACK ON THE MARKET!! Amazing home at a great price located a short walk to the Delaware River. Recently updated, this property has a new roof (2012), New Septic (2009), fresh paint, new windows and doors, and many other updates. At this price it will not last long. Enjoy the conveniences of having New Hope and Lambertville down the road in this quaint neighborhood of Titusville. Other amenities include, wood floors, fenced yard, large rooms, vaulted ceilings, and much more. Make an appointment to see this home today

34. 1987-08-25
    soldstatus $138,000
35. 1983-03-01
    soldstatus $55,000

ⓘ 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: $7,791 · $649/mo
• Projected year-2 tax: $8,252 · $688/mo
• Expected delta: +$461/yr (+$38/mo · 5.9%)

ⓘ 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 5/10 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $85,200
• − Mortgage interest: −$19,600
• − Property taxes: −$7,791
• − Insurance: −$1,750
• − Repairs & maintenance: −$6,816
• − Management: −$6,816
• − Depreciation: −$10,179
• Taxable income: $32,249
• Est. tax owed @ 24.0%: −$7,740
• After-tax cash flow: $28,009/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: Hopewell Valley Regional School District
• NCES district ID: 3407530
• Math proficiency: 39% ▼ -25.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $126,131
• Composite: 52.03/100
• National rank: #1636
• State rank: #72 of 472 in NJ

Livability — Hopewell

• Score: 76/100
• State rank: #125
• US rank: #3403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington Crossing, NJ
• Population (ZIP): 3,334

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: Predominantly White (87%)
• Race & ethnicity: White 87% Asian 6% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Lithuanian 4% Serbian 2%
• Foreign-born: 6% · China
• Languages at home: 91% English-only · French/Haitian/Cajun 3% Chinese 2% Spanish 1%

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: ▼ -56.39%
• Current HPI: 246.241
• 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

+536.2% since first listed

21 events — show timeline

• 2026-05-16 Price Changed $349,900 BRIGHT MLS
• 2026-05-16 Relisted — BRIGHT MLS
• 2026-05-15 Listing Removed — BRIGHT MLS
• 2026-03-26 Price Changed $379,900 BRIGHT MLS
• 2026-03-26 Relisted — BRIGHT MLS
• 2026-03-13 Pending — BRIGHT MLS
• 2026-02-22 Contingent — BRIGHT MLS
• 2026-01-10 Price Changed $384,900 BRIGHT MLS
• 2025-11-21 Listed $389,900 BRIGHT MLS
• 2025-11-17 Coming Soon $389,900 BRIGHT MLS
• 2013-05-29 Sold (Public Records) $177,000 Public Records
• 2013-05-28 Sold (MLS) $177,000 BRIGHT MLS
• 2013-05-28 Sold (MLS) $177,000 TREND
• 2013-05-21 Pending — TREND
• 2013-03-25 Listing Removed — BRIGHT MLS
• 2013-03-16 Price Changed $184,900 TREND
• 2012-10-22 Price Changed $189,900 TREND
• 2012-07-12 Listed $199,900 TREND
• 2012-07-12 Listed $184,900 BRIGHT MLS
• 1987-08-25 Sold (Public Records) $138,000 Public Records
• 1983-03-01 Sold (Public Records) $55,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $7,791 · +2.8% YoY. Source: county tax records.