233 Sinnickson St · Salem, NJ 08079

$95,000

2 bd · 1.0 ba · 1,032 sqft · Townhouse public records · 38 Days on market

Built 1890 2,178 sqft lot Est $122k · 22% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Brick Duplex which consist of (2) single side by side twins. Each deeded separately but being sold together. This side consist of 2 bedrooms and bath upstairs. Downstairs is a Living Room, Dining Room and Kitchen. Laundry room on main floor and full basement. This has a long term tenant and currently rents for $ 850.00 month.

Key facts

• Built 1890
• Listed 37 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Electric cooling; Natural gas heating and hot water; Public water; Sewer permit applied for
• Home design: Semi-detached property; Brick exterior
• Construction: Estimated year built; Other foundation; Other structures above and below grade
• Exterior features: Public water; Sewer permit applied for

Interior

• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Hot water heated by natural gas
• Interior features: No basement

🏷️ Possibly a rental listed for sale. The $95,000 price doesn't fit this home's estimated sale value (~$121,776) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $95k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 8.4% 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: schools D, amenities F, commute 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.
• Market conditions: 100 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $296 of equity ($657 loan paydown + $-361 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $95k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.51% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.66%
• DSCR: 1.83
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $121,776
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
183 E Broadway Unit C-8	0.30mi	3/— (+1)	967 (-6%)	2mo	$60,000	$62	69
229 Sinnickson St	0.01mi	3/1.0 (+1)	888 (-14%)	7mo	$105,000	$118	66
286 Morrison Ave	0.33mi	2/1.0	1,176 (+14%)	1mo	$35,000	$30	61
14 Church St	0.15mi	3/2.0 (+1)	1,080 (+5%)	23mo	$149,900	$139	57
183 E Broadway	0.30mi	2/1.0	888 (-14%)	7mo	$118,000	$133	57
284 Morrison Ave	0.33mi	3/1.0 (+1)	1,176 (+14%)	1mo	$155,000	$132	56
311 E Broadway	0.16mi	2/1.0	1,168 (+13%)	24mo	$83,000	$71	51

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: 17.5%
• Equity multiple: 1.82×
• Total profit: $21,938
• Equity at exit: $25,793

10-year hold

• IRR: 22.4%
• Equity multiple: 3.40×
• Total profit: $63,856
• Equity at exit: $29,608

Cash invested: $26,600 (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: 100
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,433 high
• Mortgage (P&I): −$498
• Tax from tax record: −$180 /mo · $2,166/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $414

Break-even live

Break-even rent $909

Max offer price $95,000

Occupancy floor 66%

Sensitivity live

Price	-10% $467	-5% $440	+0% $414	+5% $387	+10% $360
Rent	-10% $300	-5% $357	+0% $414	+5% $470	+10% $527
Rate	-1.0pp $461	-0.5pp $438	base $414	+0.5pp $389	+1.0pp $364

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Sinnickson St Salem, NJ	2.0	1.0	1008	$1,500	$1.49	2d	1	0.05mi
56 Olive St Salem, NJ	2.0	1.0	700	$1,200	$1.71	2d	1	0.10mi
85 Union St Salem, NJ	1.0	1.0	700	$1,050	$1.50	2d	1	0.13mi
26 Walnut St Unit A Salem, NJ	2.0	1.0	1000	$1,225	$1.23	2d	1	0.17mi
1 9th St Salem, NJ	2.0	1.0	900	$1,450	$1.61	2d	1	0.25mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	2d	1	0.33mi
242 Grant St Unit 1ST FLOOR Salem, NJ	2.0	1.0	925	$1,675	$1.81	2d	1	0.44mi
115 W Broadway Unit 3 Salem, NJ	1.0	1.0	1000	$1,250	$1.25	0d	1	0.45mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	3d	1	0.65mi
124 Yorke St Unit 2BR Salem, NJ	2.0	1.0	750	$1,400	$1.87	10d	1	0.65mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	2d	1	0.66mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	4d	1	0.69mi

Listing history 34 events

1. 2026-06-18
   days on market $95,000 Active 38 DOM
2. 2026-06-17
   days on market $95,000 Active 37 DOM
3. 2026-06-16
   days on market $95,000 Active 36 DOM
4. 2026-06-16
   price $95,000 Active 35 DOM
5. 2026-06-15
   days on market $100,000 Active 35 DOM
6. 2026-06-13
   days on market $100,000 Active 33 DOM
7. 2026-06-13
   days on market $100,000 Active 32 DOM
8. 2026-06-09
   days on market $100,000 Active 29 DOM
9. 2026-06-08
   days on market $100,000 Active 28 DOM
10. 2026-06-07
    days on market $100,000 Active 27 DOM
11. 2026-06-04
    days on market $100,000 Active 24 DOM
12. 2026-06-03
    days on market $100,000 Active 23 DOM
13. 2026-06-02
    days on market $100,000 Active 22 DOM
14. 2026-06-01
    days on market $100,000 Active 21 DOM
15. 2026-05-31
    days on market $100,000 Active 20 DOM
16. 2026-05-11
    listed $100,000 Active
17. 2026-05-11
    historical $100,000
18. 2023-04-12
    soldstatus $56,500
19. 2023-03-20
    soldstatus $56,500 Closed 327-char remark

    Show marketing remark (327 chars)

    Brick Duplex which consist of (2) single side by side twins. Each deeded separately but being sold together. This side consist of 2 bedrooms and bath upstairs. Downstairs is a Living Room, Dining Room and Kitchen. Laundry room on main floor and full basement. This has a long term tenant and currently rents for $ 850.00 month.

20. 2023-02-22
    status Pending 327-char remark

    Show marketing remark (327 chars)

    Brick Duplex which consist of (2) single side by side twins. Each deeded separately but being sold together. This side consist of 2 bedrooms and bath upstairs. Downstairs is a Living Room, Dining Room and Kitchen. Laundry room on main floor and full basement. This has a long term tenant and currently rents for $ 850.00 month.

21. 2023-02-18
    historical Active Under Contract 327-char remark

    Show marketing remark (327 chars)

    Brick Duplex which consist of (2) single side by side twins. Each deeded separately but being sold together. This side consist of 2 bedrooms and bath upstairs. Downstairs is a Living Room, Dining Room and Kitchen. Laundry room on main floor and full basement. This has a long term tenant and currently rents for $ 850.00 month.

22. 2023-01-30
    listed $59,900 Active 327-char remark

    Show marketing remark (327 chars)

    Brick Duplex which consist of (2) single side by side twins. Each deeded separately but being sold together. This side consist of 2 bedrooms and bath upstairs. Downstairs is a Living Room, Dining Room and Kitchen. Laundry room on main floor and full basement. This has a long term tenant and currently rents for $ 850.00 month.

23. 2023-01-28
    historical $59,900 327-char remark

    Show marketing remark (327 chars)

    Brick Duplex which consist of (2) single side by side twins. Each deeded separately but being sold together. This side consist of 2 bedrooms and bath upstairs. Downstairs is a Living Room, Dining Room and Kitchen. Laundry room on main floor and full basement. This has a long term tenant and currently rents for $ 850.00 month.

24. 2008-05-19
    soldstatus $115,000
25. 2008-05-16
    soldstatus $115,000 393-char remark

    Show marketing remark (393 chars)

    Brick Duplex each side features two bedrooms, new bathroom with tile floor, living room, dining room, new kitchen, and washer & dryer hookup! Roof is two years old, all new electrical in 233, all new plumbing to curb both sides, new high efficiency natural gas heaters, central air conditioning! Fully rented with excellent tenants! Two units on seperate Deeds, taxes are for both sides.

26. 2008-03-31
    historical 393-char remark

    Show marketing remark (393 chars)

    Brick Duplex each side features two bedrooms, new bathroom with tile floor, living room, dining room, new kitchen, and washer & dryer hookup! Roof is two years old, all new electrical in 233, all new plumbing to curb both sides, new high efficiency natural gas heaters, central air conditioning! Fully rented with excellent tenants! Two units on seperate Deeds, taxes are for both sides.

27. 2007-09-18
    listed $129,000 393-char remark

    Show marketing remark (393 chars)

    Brick Duplex each side features two bedrooms, new bathroom with tile floor, living room, dining room, new kitchen, and washer & dryer hookup! Roof is two years old, all new electrical in 233, all new plumbing to curb both sides, new high efficiency natural gas heaters, central air conditioning! Fully rented with excellent tenants! Two units on seperate Deeds, taxes are for both sides.

28. 2004-06-07
    soldstatus $45,000
29. 2004-06-04
    soldstatus $25,000
30. 2004-04-12
    historical
31. 2004-02-13
    listed $25,000
32. 2003-12-04
    historical
33. 2003-12-04
    listed $12,500
34. 1993-09-15
    soldstatus $35,000

ⓘ 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: $2,166 · $180/mo
• Projected year-2 tax: $2,266 · $189/mo
• Expected delta: +$100/yr (+$8/mo · 4.6%)

ⓘ 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) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $17,192
• − Mortgage interest: −$5,321
• − Property taxes: −$2,166
• − Insurance: −$475
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$2,764
• Taxable income: $3,716
• Est. tax owed @ 24.0%: −$892
• After-tax cash flow: $4,071/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

+185.7% since first listed

19 events — show timeline

• 2026-05-11 Listed $100,000 BRIGHT MLS
• 2026-05-11 Coming Soon $100,000 BRIGHT MLS
• 2023-04-12 Sold (Public Records) $56,500 Public Records
• 2023-03-20 Sold (MLS) $56,500 BRIGHT MLS
• 2023-02-22 Pending — BRIGHT MLS
• 2023-02-18 Contingent — BRIGHT MLS
• 2023-01-30 Listed $59,900 BRIGHT MLS
• 2023-01-28 Coming Soon $59,900 BRIGHT MLS
• 2008-05-19 Sold (Public Records) $115,000 Public Records
• 2008-05-16 Sold (MLS) $115,000 BRIGHT MLS
• 2008-03-31 Listing Removed — BRIGHT MLS
• 2007-09-18 Listed $129,000 BRIGHT MLS
• 2004-06-07 Sold (Public Records) $45,000 Public Records
• 2004-06-04 Sold (MLS) $25,000 BRIGHT MLS
• 2004-04-12 Listing Removed — BRIGHT MLS
• 2004-02-13 Listed $25,000 BRIGHT MLS
• 2003-12-04 Listed $12,500 BRIGHT MLS
• 2003-12-04 Listing Removed — BRIGHT MLS
• 1993-09-15 Sold (Public Records) $35,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,166 · +4.9% YoY. Source: county tax records.