116 N Main St · Lambertville, NJ 08530-2031

$950,000

4 bd · 2.0 ba · 1,968 sqft · SingleFamily public records · 26 Days on market

Built 1878 3,484 sqft lot Est $691k · 38% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

3 lots, 2 family home, 10 garages. One fantastic opportunity to have a multi-family home in the heart of Lambertville that's close to everything that you could want! This unique home has soaring ceilings, airy rooms, lots of windows and details that only a well kept home from this era can offer. The first unit has a large living room with ornate fireplace, glass paned pocket doors leading to the dining room, and eat-in kitchen, two bedrooms, a full bathroom, access to the basement with laundry room and access to the expansive yard. The second level has a large living room/dining room with a balcony and deck that leads to the yard, a kitchen with breakfast area, two bedrooms, full bath and a

Key facts

• Expansive yard
• Ornate fireplace
• Large living room

Tags

• MULTI-FAMILY HOME
• LARGE LIVING ROOM
• ORNATE FIREPLACE
• GLASS PANED POCKET DOORS
• EXPANSIVE YARD
• BALCONY AND DECK

Property features AI

Finance

• Financial info: Two units (multifamily); Net operating income: 0; Gross operating income: 0; Total operating expenses: 0

Exterior

• Parking: Approximately 20 parking spaces; 10 garage spaces in detached garage; Driveway with 1-car and 2-car widths (driveway exclusive)
• Utilities: Electric service; Natural gas service; Public water; Public sewer
• Home design: Two-story duplex (side-by-side units)
• Construction: Year built: approximate
• Exterior features: Curbs; Patio; Aluminum siding and brick exterior; Asphalt shingle roof

Interior

• Kitchen: Unit 1: Eat-in kitchen; Unit 2: Eat-in kitchen
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom; Total full bathrooms: 2
• Heating & cooling: Two heating units (natural gas); Ceiling fan(s)
• Interior features: Carbon monoxide detector

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $950k.

Deal economics

• At list price, monthly cash flow is $14k ($164k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $950k).
• Recommended offer: $936k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.6% vs local median 4.7% in Lambertville — 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 74/100 on livability (#168 in NJ, #4,460 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute F, cost of living F.
• South Hunterdon Regional School District (rural): math 13% / reading 43% proficiency, ranked #335 of 472 in NJ (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 389 units permitted in Hunterdon County in 2024 (180 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($7k loan paydown + $28k appreciation (3.0% local appreciation)).
• Hunterdon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $266k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($936k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $74k; list at $950k implies a 1184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1878 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $935,750 (1.5% below list)

Questions for the listing agent

1. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.64% ✓
• Cap rate: 23.56%
• Cash-on-cash: 61.68%
• DSCR: 3.74
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $690,768
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 N Franklin St	0.03mi	4/2.5	1,924 (-2%)	19mo	$675,000	$351	77
58 Alexander Ave	0.25mi	4/2.5	2,032 (+3%)	20mo	$530,000	$261	65
57 N Main St	0.53mi	3/1.0 (-1)	1,948 (-1%)	3mo	$950,000	$488	62
103 Highland Ave	0.73mi	4/2.0	2,016 (+2%)	4mo	$715,000	$355	59
44 York St	0.10mi	3/3.5 (-1)	1,820 (-8%)	19mo	$969,600	$533	56
55 S Union St	0.47mi	3/2.5 (-1)	2,248 (+14%)	21mo	$609,000	$271	30
73 S Main St	0.46mi	3/2.5 (-1)	2,256 (+15%)	23mo	$790,000	$350	28
204-1/2 Brunswick Ave	0.66mi	3/1.5 (-1)	1,744 (-11%)	20mo	$600,000	$344	27

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: 66.5%
• Equity multiple: 4.70×
• Total profit: $985,304
• Equity at exit: $427,161

10-year hold

• IRR: 66.0%
• Equity multiple: 9.60×
• Total profit: $2,287,612
• Equity at exit: $658,306

Cash invested: $266,000 (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 08530-2031

• Active inventory: 1
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $25,101 medium
• Mortgage (P&I): −$4,982
• Tax from tax record: −$781 /mo · $9,369/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,271
• Net cashflow: $13,671

Break-even live

Break-even rent $7,796

Max offer price $950,000

Occupancy floor 41%

Sensitivity live

Price	-10% $14,209	-5% $13,940	+0% $13,671	+5% $13,402	+10% $13,134
Rent	-10% $11,688	-5% $12,680	+0% $13,671	+5% $14,663	+10% $15,654
Rate	-1.0pp $14,150	-0.5pp $13,913	base $13,671	+0.5pp $13,425	+1.0pp $13,175

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Arnett Ave Unit 1380124P Lambertville, NJ	4.0	2.0	2497	$25,101	$10.05	44d	1	0.38mi

Listing history 27 events

1. 2026-06-18
   days on market $950,000 Active 26 DOM
2. 2026-06-17
   days on market $950,000 Active 25 DOM
3. 2026-06-16
   days on market $950,000 Active 24 DOM
4. 2026-06-15
   days on market $950,000 Active 23 DOM
5. 2026-06-13
   days on market $950,000 Active 21 DOM
6. 2026-06-09
   days on market $950,000 Active 17 DOM
7. 2026-06-08
   days on market $950,000 Active 16 DOM
8. 2026-06-07
   days on market $950,000 Active 15 DOM
9. 2026-06-04
   days on market $950,000 Active 12 DOM
10. 2026-06-03
    days on market $950,000 Active 11 DOM
11. 2026-06-02
    days on market $950,000 Active 10 DOM
12. 2026-06-01
    days on market $950,000 Active 9 DOM
13. 2026-05-31
    days on market $950,000 Active 8 DOM
14. 2026-05-23
    listed $950,000 Active
15. 2022-09-22
    historical
16. 2022-09-22
    historical
17. 2022-09-20
    status Active
18. 2022-09-20
    status Active
19. 2022-09-06
    historical Active Under Contract
20. 2022-09-06
    historical Active Under Contract
21. 2022-06-24
    price $825,000
22. 2022-06-24
    price $825,000
23. 2022-06-05
    listed $899,000 Active
24. 2022-06-03
    listed $899,000 Active
25. 2015-10-31
    historical
26. 2015-06-30
    listed $590,000
27. 1979-08-01
    soldstatus $74,000

ⓘ 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: $9,369 · $781/mo
• Projected year-2 tax: $16,512 · $1,376/mo
• Expected delta: +$7,143/yr (+$595/mo · 76.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $301,212
• − Mortgage interest: −$53,215
• − Property taxes: −$9,369
• − Insurance: −$4,750
• − Repairs & maintenance: −$24,097
• − Management: −$24,097
• − Depreciation: −$27,636
• Taxable income: $158,048
• Est. tax owed @ 24.0%: −$37,932
• After-tax cash flow: $126,124/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 Hunterdon Regional School District
• NCES district ID: 3400769
• Math proficiency: 13% ▼ -27.00%
• Reading proficiency: 43% ▼ -17.00%
• Median HH income: $82,621
• Composite: 27.54/100
• National rank: #6948
• State rank: #335 of 472 in NJ

Livability — Lambertville

• Score: 74/100
• State rank: #168
• US rank: #4460

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lambertville, NJ

Population outlook (Hunterdon County) Hauer SSP2

• Today (2025): 122,644 people
• By 2030: 121,131 · -1.2%
• By 2040: 117,753 · -4.0%
• By 2050: 112,601 · -8.2%
• By 2075: 104,371 · -14.9%
• By 2100: 93,364 · -23.9%

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

+1183.8% since first listed

14 events — show timeline

• 2026-05-23 Listed $950,000 GSMLS
• 2022-09-22 Listing Removed — BRIGHT MLS
• 2022-09-22 Listing Removed — BRIGHT MLS
• 2022-09-20 Relisted — BRIGHT MLS
• 2022-09-20 Relisted — BRIGHT MLS
• 2022-09-06 Contingent — BRIGHT MLS
• 2022-09-06 Contingent — BRIGHT MLS
• 2022-06-24 Price Changed $825,000 BRIGHT MLS
• 2022-06-24 Price Changed $825,000 BRIGHT MLS
• 2022-06-05 Listed $899,000 BRIGHT MLS
• 2022-06-03 Listed $899,000 BRIGHT MLS
• 2015-10-31 Listing Removed — BRIGHT MLS
• 2015-06-30 Listed $590,000 BRIGHT MLS
• 1979-08-01 Sold (Public Records) $74,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $9,369 · -0.1% YoY. Source: county tax records.