56 HAMILTON Ave #4 · Fairview, NJ 07022

$1,395,000

28 bd · 16.0 ba · — sqft · MultiFamily · 20 Days on market

Good condition

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0

Multi-family units

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

Listing remarks

4 FAMILY WITH A 7.6% CAP RATE, THIS PROPERTY WAS REMODELED FROM GUT TO STUD ABOUT 6 YEARS AGO, NEW ELECTRICITY, NEW PLUMBING, NEWER ROOF, NEW SHEETROCK, PROPERTY HAS SEPARATE UTILITIES, TENANTS PAY HEAT & HOT WATER, FIRST FLOOR FEATURES 2 APTS, ONE HAS A TWO BEDROOM UNIT AND THE OTHE APT HAS A 1 UNIT APT. SECOND FLOOR HAS 3 BEDROOMS. 1 FB. 3RD FLOOR HAS 2 BEDROOMS, FULL BATH, DECK WITH PARIAL NYC VIEW, NYC TRANSPORTATION 1 BLOCK AWAY. NEXT TO NORTH HUDSON PARK. EXPENSES= water & sewer $4,800, insurance $6,000. taxes $21,045, total expenses, $31,845. total income $11,500 x 12=$138,000 net income $106,155.00

Key facts

• Separate utilities
• New electricity
• New plumbing

Tags

• REMODELED FROM GUT TO STUD
• NEW ELECTRICITY
• NEW PLUMBING
• NEWER ROOF
• NEW SHEETROCK
• SEPARATE UTILITIES

Property features AI

Exterior

• Parking: No designated parking
• Home design: Multi-level building with at least three floors
• Construction: Lead paint form on file
• Exterior features: Stucco exterior

Interior

• Kitchen: 5 kitchens total (2 on level 1, 1 on level 2, 2 on level 3)
• Bedrooms: Floor 1: 2 bedrooms; Floor 2: 3 bedrooms; Floor 3: 2 bedrooms
• Bathrooms: 4 total bathrooms (all full); Floor 1: 2 full bathrooms; Floor 2: 1 full bathroom; Floor 3: 1 full bathroom
• Heating & cooling: Hot air heating; Window A/C units; Baseboard heating; Gas heating
• Interior features: Finished full basement

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $1.40M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive. Per door: $937/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.40M).
• Recommended offer: $1.37M (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.5% in Fairview — 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 (#174 in NJ, #4,548 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute C-, schools D-, cost of living F.
• Fairview Public School District (suburban): math 6% / reading 30% proficiency, ranked #440 of 472 in NJ (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• At $17,032/mo this rent would consume 321% of the median local household income ($64k/yr) (locally 1247% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $10k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $391k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($1.37M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $1,374,075 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.72%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.17×
• Total profit: $66,612
• Equity at exit: $265,056

10-year hold

• IRR: 12.1%
• Equity multiple: 2.06×
• Total profit: $414,223
• Equity at exit: $220,942

Cash invested: $390,600 (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 07022

• Home prices YoY: -0.6%
• Active inventory: 25
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $17,032 medium
• Mortgage (P&I): −$7,316
• Tax est. 1.5%: −$1,744 /mo · $20,925/yr
• Insurance: −$581
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,577
• Net cashflow: $3,748

Break-even live

Break-even rent $12,287

Max offer price $1,395,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$17,032
Total (4 units)			$17,032

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: $348,750
• Closing costs: $41,850
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,395,000 Active 20 DOM
2. 2026-06-17
   days on market $1,395,000 Active 19 DOM
3. 2026-06-16
   days on market $1,395,000 Active 18 DOM
4. 2026-06-15
   days on market $1,395,000 Active 17 DOM
5. 2026-06-13
   days on market $1,395,000 Active 15 DOM
6. 2026-06-13
   days on market $1,395,000 Active 14 DOM
7. 2026-06-09
   days on market $1,395,000 Active 11 DOM
8. 2026-06-08
   days on market $1,395,000 Active 10 DOM
9. 2026-06-07
   days on market $1,395,000 Active 9 DOM
10. 2026-06-04
    days on market $1,395,000 Active 6 DOM
11. 2026-06-03
    days on market $1,395,000 Active 5 DOM
12. 2026-06-02
    days on market $1,395,000 Active 4 DOM
13. 2026-06-02
    remarks 617-char remark
14. 2026-06-02
    price $1,395,000 Active 3 DOM
15. 2026-06-01
    days on market $1,475,000 Active 3 DOM
16. 2026-05-31
    days on market $1,475,000 Active 2 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $204,384
• − Mortgage interest: −$78,142
• − Property taxes: −$20,925
• − Insurance: −$7,772
• − Repairs & maintenance: −$16,351
• − Management: −$16,351
• − Depreciation: −$40,582
• Taxable income: $24,262
• Est. tax owed @ 24.0%: −$5,823
• After-tax cash flow: $39,157/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with recent renovations. It has a good roof, exterior, and interior, and is ready for a fresh coat of paint and some landscaping to further enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and property value
• Both Landscaping the front yard — Improves curb appeal and property value
• Both Updating the interior paint — Enhances the overall look and feel of the property

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and property value ↑
• Both Landscaping the front yard — Improves curb appeal and property value ↑
• Both Updating the interior paint — Enhances the overall look and feel of the property ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fairview Public School District
• NCES district ID: 3405070
• Math proficiency: 6% ▼ -20.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $49,155
• Composite: 16.08/100
• National rank: #9236
• State rank: #440 of 472 in NJ

Livability — Fairview

• Score: 74/100
• State rank: #174
• US rank: #4548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview, NJ
• County: Bergen County · 586,961 people
• City population: 15,099
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,099
• Household income: $63,606
• Rent vs Own: 66.8% rent · 33.2% own
• Severe rent burden: 1247.0

Population outlook (Bergen County) Hauer SSP2

• Today (2025): 1,021,896 people
• By 2030: 1,063,119 · +4.0%
• By 2040: 1,146,566 · +12.2%
• By 2050: 1,229,132 · +20.3%
• By 2075: 1,429,694 · +39.9%
• By 2100: 1,547,614 · +51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 29% Two or more races 16% Asian 4% Native American 1% Black 1%
• Hispanic origin (detail): Puerto Rican 5% Cuban 4% Dominican 7%
• Common ancestry: Lithuanian 2% Iranian 1% Italian 1%
• Foreign-born: 48% · Canada, Jamaica, South Korea
• Languages at home: 29% English-only · Spanish 56% Arabic 4% Other Indo-European 4%

Political lean MEDSL · Bergen

• 2024 margin: Toss-up / Even · D 50.7% · R 47.3% · Other 2.0%
• 2008→2024 swing: -6.1pp toward R · 2008: 9.5pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+16.4 2016: D+12.0 2012: D+10.8 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.09%
• Current HPI: 342.7225
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+99900.0% since first listed

2 events — show timeline

• 2026-05-30 Price Changed $1,475,000 HCMLS
• 2026-05-29 Listed $1,475 HCMLS