230 Niles St #3 · Elizabeth, NJ 07202-4076

$679,000

6 bd · 3.0 ba · 29,997 sqft · MultiFamily · 92 Days on market

2,613 sqft lot

---

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).

• Cash flow +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

WOW!!! CALLING ALL INVESTORS. .. YOU NOW HAVE THE OPPPORTUNITY TO PURCHASE A 3 FAMILY HOME IN PETERSTOWN ELIZ AT AN AFFORDABLE PRICE!!!TENANTS PAYS UTILITIES. .LANDLORD PAYS ONLY COLD WATER AND SEWER. .. ONE OF THE THREE BOILERS IS BRAND NEW!! IF YOU ARE LOOKING FOR A MONEY MAKING MULTI FAMILY WHICH REQUIRES VERY LITTLE MAINTENANCE YOU HAVE IT IF YOU HURRY

Key facts

• 2,613 sq ft lot
• Listed 92 days

Property features AI

Finance

• Financial info: Property contains 3 units; Reported net operating income: 999; Reported gross operating income: 999; Reported total operating expenses: 9,999; Expenses include cold water, insurance, and taxes; Unit rents indicated: Unit 1 rent listed as 1,450; Unit 2 rent listed as 0; Unit 3 rent listed as 9,999; Security deposits shown for Unit 1 and Unit 3

Exterior

• Parking: On-street parking
• Security: Carbon monoxide detectors and smoke detectors in units; Fire extinguisher
• Utilities: Public water; Public sewer; Electric service available; Natural gas available; Cable TV available; Garbage service included
• Home design: 3-story building; Under/over unit style; Red brick exterior; Level lot
• Construction: Brick siding; Flat roof
• Exterior features: Curbs; Patio; Privacy fence; Sidewalk; Storage shed; Storm door(s); Thermal windows and doors

Interior

• Kitchen: Gas range/oven in Units 2 and 3; Eat-in kitchen in Units 2 and 3
• Bedrooms: Unit 1: 1 bedroom (single level); Unit 2: 2 bedrooms (single level); Unit 3: 3 bedrooms (three levels)
• Flooring: Tile floors
• Bathrooms: Three full bathrooms total (across units)
• Heating & cooling: Three heating units; Baseboard hot water heating; Natural gas heating; See remarks (additional heating/cooling details)
• Interior features: Carbon monoxide detector; Fire extinguisher; Smoke detector; Tile floors; Gas water heater; See remarks (additional interior details)
• Laundry & utility: Utilities: Electric and natural gas

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $679k.

Deal economics

• At list price, monthly cash flow is $640 ($8k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $675k (0.6% below list).
• Recommended offer: $618k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.4% in Elizabeth — 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 69/100 on livability (#277 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety B+; Watch: amenities D+, crime D-, cost of living F.
• Elizabeth Public Schools (suburban): math 9% / reading 33% proficiency, ranked #430 of 472 in NJ (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Nicholas S. Lacorte-Peterstown School No. 3 (math 5% / reading 21%, grade F, #1,162 of 1,303 statewide, top 90%, 807 students, 86% FRL); Elizabeth High School - Frank J Cicarell Academy (math 32% / reading 75%, grade C-, #88 of 399 statewide, top 22%, 1,281 students, 75% FRL).
• Zoned-school proficiency averages 33% at this address vs 21% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Elizabeth Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 1 active listings in the ZIP; 1,749 units permitted in Union County in 2024 (1,421 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($5k loan paydown + $20k appreciation (3.0% local appreciation)).
• Union County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $190k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($618k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $617,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.04%
• DSCR: 1.18
• GRM: 8.4

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: 11.3%
• Equity multiple: 1.65×
• Total profit: $122,665
• Equity at exit: $305,308

10-year hold

• IRR: 13.5%
• Equity multiple: 3.00×
• Total profit: $379,786
• Equity at exit: $470,516

Cash invested: $190,120 (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 07202-4076

• Active inventory: 1
• Price-to-rent: 25.1×

Monthly cashflow live

• Estimated rent: $6,750 medium
• Mortgage (P&I): −$3,561
• Tax est. 1.5%: −$849 /mo · $10,185/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,418
• Net cashflow: $640

Break-even live

Break-even rent $5,940

Max offer price $679,000

Occupancy floor 86%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,750
Total (3 units)			$6,750

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: $169,750
• Closing costs: $20,370
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-13
   days on market $679,000 Active 92 DOM
2. 2026-06-13
   days on market $679,000 Active 91 DOM
3. 2026-06-09
   days on market $679,000 Active 88 DOM
4. 2026-06-08
   days on market $679,000 Active 87 DOM
5. 2026-06-07
   days on market $679,000 Active 86 DOM
6. 2026-06-04
   days on market $679,000 Active 83 DOM
7. 2026-06-03
   days on market $679,000 Active 82 DOM
8. 2026-06-02
   days on market $679,000 Active 81 DOM
9. 2026-06-01
   days on market $679,000 Active 80 DOM
10. 2026-05-31
    days on market $679,000 Active 79 DOM
11. 2026-03-13
    listed $679,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,000
• − Mortgage interest: −$38,035
• − Property taxes: −$10,185
• − Insurance: −$3,395
• − Repairs & maintenance: −$6,480
• − Management: −$6,480
• − Depreciation: −$19,753
• Taxable loss: −$3,327
• Est. tax savings @ 24.0%: +$799
• After-tax cash flow: $8,480/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: Elizabeth Public Schools
• NCES district ID: 3404590
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 33% ▼ -19.00%
• Median HH income: $43,785
• Composite: 18.05/100
• National rank: #8979
• State rank: #430 of 472 in NJ

Livability — Elizabeth

• Score: 69/100
• State rank: #277
• US rank: #8270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabeth, NJ

Population outlook (Union County) Hauer SSP2

• Today (2025): 596,450 people
• By 2030: 616,880 · +3.4%
• By 2040: 658,185 · +10.4%
• By 2050: 696,707 · +16.8%
• By 2075: 785,448 · +31.7%
• By 2100: 836,583 · +40.3%

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

1 event — show timeline

• 2026-03-13 Listed $679,000 GSMLS