267 Friendship Rd · Monmouth Junction, NJ 08512

$700,000

4 bd · 3.0 ba · 2,428 sqft · SingleFamily public records · 59 Days on market

Built 1944 1.00 ac lot Est $1000k · 30% 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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

Key facts

• Surrounded by trees
• Eat-in kitchen
• Expanded cape cod

Tags

• EXPANDED CAPE COD
• SURROUNDED BY TREES
• CATHEDRAL CEILING
• EAT-IN KITCHEN
• AMPLE STORAGE
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Building has two levels; Lot approximately 1 acre

Exterior

• Parking: Attached garage (1 garage space); Covered parking (1 covered space); Additional open parking; Parking arranged 2-car width and 2 cars deep
• Utilities: Well water; Septic tank sewer; Electricity connected; Oil for fuel
• Home design: Detached property; Two stories; 1 fireplace (wood burning)
• Construction: Photovoltaic power production
• Exterior features: Fenced yard / wall; Patio; Asphalt roof

Interior

• Kitchen: Dishwasher; Electric range/oven; Microwave; Refrigerator; Eat-in kitchen; Separate dining area
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Cathedral ceilings; Skylights; Formal dining room; Family room; Living room; Den/Study; Separate dining area; Eat-in kitchen; Basement with interior and exterior entry, utility room and laundry facilities; 10 total rooms
• Laundry & utility: Washer; Dryer; Basement laundry facilities; Basement utility room

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $700k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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 $650k (7.1% below list).
• Recommended offer: $650k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.0% in Monmouth Junction — 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 68/100 on livability (#301 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• South Brunswick School District (suburban): math 44% / reading 60% proficiency, ranked #92 of 472 in NJ (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Indian Fields Elementary School (math 56% / reading 55%, grade C, #170 of 1,303 statewide, top 13%, 565 students, 9% FRL); Crossroads South Middle School (math 40% / reading 62%, grade C, #94 of 431 statewide, top 23%, 987 students, 11% FRL); South Brunswick High School (math 33% / reading 63%, grade D, #117 of 399 statewide, top 30%, 2,786 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,971 units permitted in Middlesex County in 2024 (1,193 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Middlesex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($679k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $399k; list at $700k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — 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 $650,000 (7.1% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $1,000,336
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 Deerfield Trl	0.48mi	4/2.5	2,574 (+6%)	22mo	$1,060,000	$412	47

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-103,710
• Equity at exit: $104,372

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-77,269
• Equity at exit: $60,523

Cash invested: $196,000 (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 08512

• Active inventory: 61
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $6,500 medium
• Mortgage (P&I): −$3,671
• Tax from tax record: −$1,023 /mo · $12,274/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,365
• Net cashflow: $150

Break-even live

Break-even rent $6,311

Max offer price $700,000

Occupancy floor 93%

Sensitivity live

Price	-10% $546	-5% $348	+0% $150	+5% $-48	+10% $-247
Rent	-10% $-364	-5% $-107	+0% $150	+5% $406	+10% $663
Rate	-1.0pp $502	-0.5pp $328	base $150	+0.5pp $-32	+1.0pp $-216

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Poplar Dr Cranbury, NJ	5.0	2.5	2843	$6,500	$2.29	26d	1	1.27mi

Listing history 34 events

1. 2026-06-21
   days on market $700,000 Active 59 DOM
2. 2026-06-18
   days on market $700,000 Active 56 DOM
3. 2026-06-17
   days on market $700,000 Active 55 DOM
4. 2026-06-16
   days on market $700,000 Active 54 DOM
5. 2026-06-15
   days on market $700,000 Active 53 DOM
6. 2026-06-13
   days on market $700,000 Active 51 DOM
7. 2026-06-09
   days on market $700,000 Active 47 DOM
8. 2026-06-08
   days on market $700,000 Active 46 DOM
9. 2026-06-07
   days on market $700,000 Active 45 DOM
10. 2026-06-04
    pricedays on market $700,000 Active 42 DOM
11. 2026-06-03
    days on market $749,900 Active 41 DOM
12. 2026-06-02
    days on market $749,900 Active 40 DOM
13. 2026-06-01
    days on market $749,900 Active 39 DOM
14. 2026-05-31
    days on market $749,900 Active 38 DOM
15. 2026-04-23
    listed $749,900 Active
16. 2024-10-01
    historical $4,000
17. 2024-09-15
    price $4,000
18. 2024-09-15
    price $699,999
19. 2024-09-08
    listed $4,700
20. 2016-04-25
    soldstatus $398,543
21. 2016-03-24
    soldstatus $410,000 Sold 625-char remark

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

22. 2016-03-24
    soldstatus $410,000

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

23. 2016-03-23
    soldstatus $398,544 Closed
24. 2016-02-05
    status Under Contract 625-char remark

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

25. 2016-02-05
    historical

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

26. 2016-02-03
    historical Contingent - Other 625-char remark

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

27. 2016-02-01
    historical Under Contract - Attorney Review
28. 2016-01-29
    historical
29. 2015-10-24
    price $429,000 625-char remark

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

30. 2015-10-24
    price $429,000

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

31. 2015-09-15
    listed $441,000 Active 625-char remark

    Show marketing remark (625 chars)

    Secluded home on Friendship Rd extension. This updated expanded cape is breathtaking! Expanded multiple times to include 4 bedrooms and his and her offices! Custom kitchen, brick fireplace with custom mantle, Family room with vaulted ceilings and skylights. First floor master bedroom with full bath. Roof 2 yrs, Anderson windows, Oversized garage, brand new oil tank in basement. Waterproofed basement has bilco doors leading outside. Entertain on 2 tier deck, patio and screened gazebo in the park like fenced yd. Cranbury mailing address with South Brunswick school district. Well water in home but public water available.

32. 2015-09-11
    listed $441,000 Active
33. 2015-09-10
    listed $429,000
34. 1990-03-07
    soldstatus $123,000

ⓘ 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: $12,274 · $1,023/mo
• Projected year-2 tax: $14,852 · $1,238/mo
• Expected delta: +$2,578/yr (+$215/mo · 21.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $78,000
• − Mortgage interest: −$39,211
• − Property taxes: −$12,274
• − Insurance: −$3,500
• − Repairs & maintenance: −$6,240
• − Management: −$6,240
• − Depreciation: −$20,364
• Taxable loss: −$9,828
• Est. tax savings @ 24.0%: +$2,359
• After-tax cash flow: $4,155/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: South Brunswick School District
• NCES district ID: 3415210
• Math proficiency: 44% ▼ -20.00%
• Reading proficiency: 60% ▼ -14.00%
• Median HH income: $106,642
• Composite: 49.8/100
• National rank: #1955
• State rank: #92 of 472 in NJ

Livability — Monmouth Junction

• Score: 68/100
• State rank: #301
• US rank: #9228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 18,062
• Population (ZIP): 12,511

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 901,713 people
• By 2030: 930,661 · +3.2%
• By 2040: 986,276 · +9.4%
• By 2050: 1,038,920 · +15.2%
• By 2075: 1,159,418 · +28.6%
• By 2100: 1,221,973 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Asian 26% Hispanic / Latino 15% Black 9% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Scotch-Irish 2% Serbian 1%
• Foreign-born: 34% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 12% Other Indo-European 11% Chinese 7%

Political lean MEDSL · Middlesex

• 2024 margin: Lean D (+8.0) · D 52.5% · R 44.5% · Other 3.0%
• 2008→2024 swing: -13.8pp toward R · 2008: 21.8pp · 2024: 8.0pp
• All cycles: 2024: D+8.0 2020: D+22.0 2016: D+19.8 2012: D+27.0 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.73%
• Current HPI: 258.8171
• 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

+509.7% since first listed

20 events — show timeline

• 2026-04-23 Listed $749,900 CJMLS
• 2024-10-01 Rental Removed $4,000 CJMLS
• 2024-09-15 Price Changed $4,000 CJMLS
• 2024-09-15 Price Changed $699,999 CJMLS
• 2024-09-08 Listed for Rent $4,700 CJMLS
• 2016-04-25 Sold (Public Records) $398,543 Public Records
• 2016-03-24 Sold (MLS) $410,000 BRIGHT MLS
• 2016-03-24 Sold (MLS) $410,000 TREND
• 2016-03-23 Sold (MLS) $398,544 CJMLS
• 2016-02-05 Pending — TREND
• 2016-02-05 Delisted — CJMLS
• 2016-02-03 Contingent — TREND
• 2016-02-01 Contingent — CJMLS
• 2016-01-29 Listing Removed — BRIGHT MLS
• 2015-10-24 Price Changed $429,000 TREND
• 2015-10-24 Price Changed $429,000 CJMLS
• 2015-09-15 Listed $441,000 TREND
• 2015-09-11 Listed $441,000 CJMLS
• 2015-09-10 Listed $429,000 BRIGHT MLS
• 1990-03-07 Sold (Public Records) $123,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $12,274 · +4.1% YoY. Source: county tax records.