67 Walnut St · Salem, NJ 08079

$100,000

3 bd · 1.5 ba · 1,738 sqft · SingleFamily public records · 69 Days on market

Built 1890 6,090 sqft lot

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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
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

INVESTORS ALERT! We offer a 3 BR/2 BA period home (circa1890) , w/ eat in KIT, DR and main floor Laundry. There are high ceilings and hard wood flooring associated with homes of this period, as well as bump out and curved entrance ways into specific rooms. UNWIND on your enclosed front porch and watch the world go by. We show a generous walk up (floored) attic - PLENTY OF STORAGE here! There is a full (unfinished) BAS w/ electric for the hobbyist and additional storage space. Off street parking. If your dream is to renovate a period home, we are in a historic district and are priced to sell. BRING YOUR VISION and make this one your own OR remodel for a great income producing property. We are nestled on a nice lot, with some trees, providing a peaceful retreat into yesteryear. Conveniently located to area shopping and restaurants. Why not put us on your viewing list to see what we have to offer YOU?!!!

Key facts

• Full basement
• 6,090 sq ft lot
• Built 1890

Tags

• FULL BASEMENT
• PARTIALLY FINISHED ATTIC
• EASY ACCESS TO ROUTE 45

Property features AI

Exterior

• Parking: Paved driveway; On-street parking; Driveway parking
• Utilities: Public water; Public sewer; Electric heating and hot water
• Home design: Detached home; Pitched shingle roof; Frame construction; Block foundation
• Construction: Frame construction; Block foundation; Pitched shingle roof; Detached structure
• Exterior features: Enclosed porch; Porches; Not in a federal flood zone

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms on the upper level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric baseboard heat; Electric hot water
• Interior features: Eat-in kitchen; 7 total rooms
• Laundry & utility: Laundry on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 8.1% in Salem — 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 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John Fenwick Academy (411 students, 77% FRL); Salem Middle School (math 2% / reading 21%, grade F, #423 of 431 statewide, top 98%, 487 students, 79% FRL); Salem High School (math 17% / reading 37%, grade F, #312 of 399 statewide, top 79%, 420 students, 52% FRL) — zoned schools average 69% FRL vs 85% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 103 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $311 of equity ($691 loan paydown + $-380 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $100k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; flood insurance adds $66/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 1.94% ✓
• Cap rate: 13.59%
• Cash-on-cash: 26.04%
• DSCR: 2.16
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $213,774
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Walnut St	0.20mi	4/2.0 (+1)	1,764 (+2%)	2mo	$70,000	$40	80
175 9th St	0.41mi	3/1.0	1,776 (+2%)	3mo	$195,000	$110	73
178 Cook Ave	0.43mi	3/1.5	1,665 (-4%)	0mo	$255,000	$153	73
200 N Union St	0.45mi	3/2.0	1,686 (-3%)	2mo	$207,500	$123	70
264 E Broadway	0.26mi	3/1.5	1,584 (-9%)	5mo	$150,000	$95	69
334 Craven Ave	0.41mi	4/1.5 (+1)	1,843 (+6%)	2mo	$245,000	$133	64
272 E Broadway	0.25mi	3/2.0	1,500 (-14%)	1mo	$65,000	$43	62
207 9th St	0.34mi	3/1.5	1,562 (-10%)	8mo	$230,000	$147	60
187 7th St	0.33mi	4/2.0 (+1)	1,929 (+11%)	3mo	$67,000	$35	57
14 Hillcrest Ave	0.57mi	4/1.0 (+1)	1,649 (-5%)	6mo	$196,000	$119	53
164 N Union St	0.58mi	3/1.5	1,516 (-13%)	9mo	$199,000	$131	44
18 Market St	0.65mi	2/1.0 (-1)	1,546 (-11%)	2mo	$235,870	$153	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 2.07×
• Total profit: $29,989
• Equity at exit: $27,150

10-year hold

• IRR: 27.2%
• Equity multiple: 3.95×
• Total profit: $82,527
• Equity at exit: $31,166

Cash invested: $28,000 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 103
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$524
• Tax from tax record: −$362 /mo · $4,340/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $541

Break-even live

Break-even rent $1,258

Max offer price $100,000

Occupancy floor 67%

Sensitivity live

Price	-10% $598	-5% $570	+0% $541	+5% $513	+10% $485
Rent	-10% $388	-5% $464	+0% $541	+5% $618	+10% $695
Rate	-1.0pp $592	-0.5pp $567	base $541	+0.5pp $515	+1.0pp $489

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	46d	1	0.33mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	7d	1	0.45mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	0d	1	0.46mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	0d	1	0.66mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	4d	1	0.74mi

Listing history 36 events

1. 2026-06-22
   days on market $100,000 Active 69 DOM
2. 2026-06-21
   days on market $100,000 Active 68 DOM
3. 2026-06-18
   days on market $100,000 Active 65 DOM
4. 2026-06-17
   days on market $100,000 Active 64 DOM
5. 2026-06-16
   days on market $100,000 Active 63 DOM
6. 2026-06-15
   days on market $100,000 Active 62 DOM
7. 2026-06-13
   days on market $100,000 Active 60 DOM
8. 2026-06-13
   days on market $100,000 Active 59 DOM
9. 2026-06-09
   days on market $100,000 Active 56 DOM
10. 2026-06-08
    days on market $100,000 Active 55 DOM
11. 2026-06-07
    days on market $100,000 Active 54 DOM
12. 2026-06-04
    days on market $100,000 Active 51 DOM
13. 2026-06-03
    days on market $100,000 Active 50 DOM
14. 2026-06-02
    days on market $100,000 Active 49 DOM
15. 2026-06-01
    days on market $100,000 Active 48 DOM
16. 2026-05-31
    days on market $100,000 Active 47 DOM
17. 2026-05-08
    price $100,000
18. 2026-04-14
    listed $125,000 Active
19. 2024-04-10
    status Pending
20. 2024-04-10
    historical
21. 2023-09-14
    listed $120,000 Active
22. 2022-03-18
    soldstatus $52,500 Closed 914-char remark

    Show marketing remark (914 chars)

    INVESTORS ALERT! We offer a 3 BR/2 BA period home (circa1890) , w/ eat in KIT, DR and main floor Laundry. There are high ceilings and hard wood flooring associated with homes of this period, as well as bump out and curved entrance ways into specific rooms. UNWIND on your enclosed front porch and watch the world go by. We show a generous walk up (floored) attic - PLENTY OF STORAGE here! There is a full (unfinished) BAS w/ electric for the hobbyist and additional storage space. Off street parking. If your dream is to renovate a period home, we are in a historic district and are priced to sell. BRING YOUR VISION and make this one your own OR remodel for a great income producing property. We are nestled on a nice lot, with some trees, providing a peaceful retreat into yesteryear. Conveniently located to area shopping and restaurants. Why not put us on your viewing list to see what we have to offer YOU?!!!

23. 2022-03-04
    status Pending 914-char remark

    Show marketing remark (914 chars)

    INVESTORS ALERT! We offer a 3 BR/2 BA period home (circa1890) , w/ eat in KIT, DR and main floor Laundry. There are high ceilings and hard wood flooring associated with homes of this period, as well as bump out and curved entrance ways into specific rooms. UNWIND on your enclosed front porch and watch the world go by. We show a generous walk up (floored) attic - PLENTY OF STORAGE here! There is a full (unfinished) BAS w/ electric for the hobbyist and additional storage space. Off street parking. If your dream is to renovate a period home, we are in a historic district and are priced to sell. BRING YOUR VISION and make this one your own OR remodel for a great income producing property. We are nestled on a nice lot, with some trees, providing a peaceful retreat into yesteryear. Conveniently located to area shopping and restaurants. Why not put us on your viewing list to see what we have to offer YOU?!!!

24. 2022-02-11
    listed $52,500 Active 914-char remark

    Show marketing remark (914 chars)

    INVESTORS ALERT! We offer a 3 BR/2 BA period home (circa1890) , w/ eat in KIT, DR and main floor Laundry. There are high ceilings and hard wood flooring associated with homes of this period, as well as bump out and curved entrance ways into specific rooms. UNWIND on your enclosed front porch and watch the world go by. We show a generous walk up (floored) attic - PLENTY OF STORAGE here! There is a full (unfinished) BAS w/ electric for the hobbyist and additional storage space. Off street parking. If your dream is to renovate a period home, we are in a historic district and are priced to sell. BRING YOUR VISION and make this one your own OR remodel for a great income producing property. We are nestled on a nice lot, with some trees, providing a peaceful retreat into yesteryear. Conveniently located to area shopping and restaurants. Why not put us on your viewing list to see what we have to offer YOU?!!!

25. 2018-12-21
    historical
26. 2018-12-18
    price $31,500
27. 2018-11-16
    price $39,400
28. 2018-11-15
    listed $34,900 Active
29. 2011-12-31
    historical
30. 2011-06-01
    listed $85,900
31. 2011-03-31
    historical
32. 2010-10-02
    listed $89,900
33. 2010-01-05
    soldstatus $46,000
34. 2009-11-21
    soldstatus $46,000
35. 2009-11-19
    historical
36. 2008-06-16
    listed $45,000

ⓘ 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: $4,340 · $362/mo
• Projected year-2 tax: $4,340 · $362/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,323
• − Mortgage interest: −$5,602
• − Property taxes: −$4,340
• − Insurance: −$1,298
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$2,909
• Taxable income: $5,443
• Est. tax owed @ 24.0%: −$1,306
• After-tax cash flow: $5,188/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: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+122.2% since first listed

20 events — show timeline

• 2026-05-08 Price Changed $100,000 BRIGHT MLS
• 2026-04-14 Listed $125,000 BRIGHT MLS
• 2024-04-10 Pending — BRIGHT MLS
• 2024-04-10 Listing Removed — BRIGHT MLS
• 2023-09-14 Listed $120,000 BRIGHT MLS
• 2022-03-18 Sold (MLS) $52,500 BRIGHT MLS
• 2022-03-04 Pending — BRIGHT MLS
• 2022-02-11 Listed $52,500 BRIGHT MLS
• 2018-12-21 Listing Removed — BRIGHT MLS
• 2018-12-18 Price Changed $31,500 BRIGHT MLS
• 2018-11-16 Price Changed $39,400 BRIGHT MLS
• 2018-11-15 Listed $34,900 BRIGHT MLS
• 2011-12-31 Listing Removed — BRIGHT MLS
• 2011-06-01 Listed $85,900 BRIGHT MLS
• 2011-03-31 Listing Removed — BRIGHT MLS
• 2010-10-02 Listed $89,900 BRIGHT MLS
• 2010-01-05 Sold (Public Records) $46,000 Public Records
• 2009-11-21 Sold (MLS) $46,000 BRIGHT MLS
• 2009-11-19 Listing Removed — BRIGHT MLS
• 2008-06-16 Listed $45,000 BRIGHT MLS

Property tax history

+0.8%/yr

Latest (2025): $4,340 · +4.9% YoY. Source: county tax records.