157 John Vanzandt Dr · Hopewell, NJ 08560

$597,190

3 bd · 2.5 ba · 2,145 sqft · Condo · 37 Days on market

Built 2026

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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 +10.2/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner's suite with a private bathroom.

Key facts

• One car garage
• Kitchen
• Loft

Tags

• ONE CAR GARAGE
• OPEN LIVING AREA
• FAMILY ROOM
• DINING ROOM
• KITCHEN
• LOFT

Property features AI

Finance

• Other: Lease not considered
• HOA & community: Monthly HOA/Condo fee of $399; HOA covers common area maintenance, exterior building maintenance, lawn maintenance, and snow removal; One-time other fees of $1,056; Pets allowed (cats and dogs; number limits apply)

Exterior

• Parking: Attached garage with rear entry and garage door opener; 1 attached garage space plus 1 additional driveway space (2 total parking spaces); On-street parking available
• Utilities: Public water; Public sewer; Natural gas for heating and cooling; Instant hot water
• Home design: Condominium; Interior townhouse/rowhouse; Construction not completed (estimated year built)
• Construction: Combination construction with vinyl siding; Slab foundation
• Exterior features: Common grounds; Dog park; Irrigation water rights; Not in a federal flood zone; Above-grade other structures

Interior

• Kitchen: Built-in microwave; Gas oven/range; Dishwasher; Refrigerator; Disposal; Stainless steel appliances; Instant hot water
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (natural gas)
• Interior features: Level entry on main floor; Doors swing inward; No basement; Estimated living area: 2,145 finished above grade
• Laundry & utility: Washer; Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $597k.

Deal economics

• At list price, monthly cash flow is $-337 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $577k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $434k (27.3% below list).
• Recommended offer: $434k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.4% 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: crime A+, employment A+, housing 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.
• Zoned schools: Bear Tavern Elementary School (math 27% / reading 57%, grade F, #422 of 1,303 statewide, top 35%, 459 students, 3% FRL); Timberlane Middle School (math 40% / reading 69%, grade B-, #68 of 431 statewide, top 16%, 780 students, 3% FRL); Hopewell Valley Central High School (math 44% / reading 71%, grade C, #67 of 399 statewide, top 17%, 1,079 students, 5% FRL) — zoned schools at 4% FRL track the district average.
• Market conditions: 86 active listings in the ZIP; 2 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 $4k of loan paydown is wiped out by about $18k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($579k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $433,946 (27.3% 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 37 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.73% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.42%
• DSCR: 0.89
• GRM: 11.5

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: -20.4%
• Equity multiple: 0.29×
• Total profit: $-118,421
• Equity at exit: $89,043

10-year hold

• IRR: -13.5%
• Equity multiple: 0.21×
• Total profit: $-131,432
• Equity at exit: $51,634

Cash invested: $167,213 (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: 11.5×

Monthly cashflow live

• Estimated rent: $4,339 medium
• Mortgage (P&I): −$3,132
• Tax from tax record: −$160 /mo · $1,921/yr
• Insurance: −$249
• HOA est. from 3 same-building comps: −$225
• Vacancy / Maint / Mgmt: −$911
• Net cashflow: $-337

Break-even live

Break-even rent $4,767

Max offer price $537,574

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-168	+0% $-337	+5% $-506	+10% $-676
Rent	-10% $-680	-5% $-509	+0% $-337	+5% $-166	+10% $5
Rate	-1.0pp $-37	-0.5pp $-186	base $-337	+0.5pp $-492	+1.0pp $-650

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: $149,298
• Closing costs: $17,916
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Ada Hightower Ave Pennington, NJ	4.0	3.5	2453	$4,900	$2.00	45d	1	1.33mi
135 Stoutsburg Blvd Hopewell Township, NJ	3.0	2.5	2129	$3,800	$1.78	45d	1	1.45mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-21
   days on marketlisting id $597,190 Active 37 DOM
2. 2026-06-18
   days on market $597,190 Active 30 DOM
3. 2026-06-17
   days on market $597,190 Active 29 DOM
4. 2026-06-16
   days on market $597,190 Active 28 DOM

   Show marketing remark (330 chars)

   This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner's suite with a private bathroom.

5. 2026-06-15
   price $597,190 Active 27 DOM
6. 2026-06-15
   days on market $599,990 Active 27 DOM
7. 2026-06-14
   days on market $599,990 Active 25 DOM
8. 2026-06-10
   days on market $599,990 Active 22 DOM
9. 2026-06-09
   days on market $599,990 Active 21 DOM
10. 2026-06-08
    days on market $599,990 Active 20 DOM
11. 2026-06-07
    days on market $599,990 Active 19 DOM
12. 2026-06-03
    days on market $599,990 Active 15 DOM

    Show marketing remark (330 chars)

    This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner's suite with a private bathroom.

13. 2026-06-03
    price $599,990 Active 14 DOM

    Show marketing remark (330 chars)

    This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner's suite with a private bathroom.

14. 2026-06-02
    pricedays on market $604,440 Active 14 DOM

    Show marketing remark (330 chars)

    This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner's suite with a private bathroom.

15. 2026-06-01
    days on market $607,390 Active 13 DOM
16. 2026-05-31
    days on market $607,390 Active 12 DOM
17. 2026-05-30
    days on market $607,390 Active 11 DOM
18. 2026-05-15
    listed $643,440 Active 330-char remark

    Show marketing remark (330 chars)

    This three-story townhome offers everything you need to live in comfort. A one-car garage occupies the first floor, while upstairs is the open living area, which features a family room, dining room and kitchen. On the third floor is a loft that is surrounded by three bedrooms, including the owner's suite with a private bathroom.

ⓘ 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: $1,921 · $160/mo
• Projected year-2 tax: $8,396 · $700/mo
• Expected delta: +$6,474/yr (+$540/mo · 337.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $52,074
• − Mortgage interest: −$33,452
• − Property taxes: −$1,921
• − Insurance: −$2,986
• − Repairs & maintenance: −$4,166
• − Management: −$4,166
• − HOA: −$2,700
• − Depreciation: −$17,373
• Taxable loss: −$14,690
• Est. tax savings @ 24.0%: +$3,526
• After-tax cash flow: $-524/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

• 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

-67.1% since first listed

14 events — show timeline

• 2026-06-16 Price Changed $597,190 Zillow
• 2026-06-15 Price Changed $597,190 BRIGHT MLS
• 2026-06-03 Price Changed $599,990 Zillow
• 2026-06-03 Price Changed $599,990 BRIGHT MLS
• 2026-06-02 Price Changed $604,440 Zillow
• 2026-06-01 Price Changed $604,440 BRIGHT MLS
• 2026-05-26 Price Changed $607,390 BRIGHT MLS
• 2026-05-26 Price Changed $607,390 Zillow
• 2026-05-25 Price Changed $610,090 BRIGHT MLS
• 2026-05-25 Price Changed $610,090 Zillow
• 2026-05-19 Price Changed $612,690 Zillow
• 2026-05-19 Listed $612,690 BRIGHT MLS
• 2026-05-15 Listed $643,440 Zillow
• 2026-04-07 Sold (Public Records) $1,812,612 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,921 · +2.8% YoY. Source: county tax records.