613 N Olden Ave · Trenton, NJ 08638

$210,000

4 bd · 2.0 ba · 1,268 sqft · SingleFamily public records · 1 Days on market

Built 1900 1,512 sqft lot Est $242k · 13% 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 +27.6/30.0
• ARV discount +13.5/15.0
• DSCR +9.7/10.0
• 1% rule +7.1/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent property being sold absolutely AS IS, no credit, no repairs , no concessions. Buyer responsible for CO. Seller needs to get an affordable housing.

Key facts

• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Cap rate 9.9% vs local median 6.3% in Trenton — 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 76/100 on livability (#133 in NJ, #3,533 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, employment F.
• Trenton Public School District (urban): math 2% / reading 16% proficiency, ranked #471 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Trenton Central High School - Main Campus (math 2% / reading 10%, grade F, #396 of 399 statewide, top 99%, 2,255 students, 56% FRL) — zoned schools average 56% FRL vs 80% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 83 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,551/mo this rent would consume 46% of the median local household income ($67k/yr) (locally 1185% 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 (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $70k; list at $210k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $210,000

Questions for the listing agent

1. Built in 1900 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
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: 1.21% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.83%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $242,188
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
709 Mulberry St S	0.49mi	3/2.0 (-1)	1,240 (-2%)	8mo	$285,000	$230	62
524 St Joes	0.35mi	3/1.0 (-1)	1,260 (-1%)	16mo	$185,000	$147	60
18 Dexter St	0.52mi	3/1.0 (-1)	1,200 (-5%)	1mo	$139,000	$116	57
929 Lanning Ave	0.70mi	3/1.0 (-1)	1,248 (-2%)	8mo	$400,000	$321	49
42 E Paul Ave	0.56mi	4/1.5	1,443 (+14%)	11mo	$275,000	$191	40

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $6,813
• Equity at exit: $31,312

10-year hold

• IRR: 12.8%
• Equity multiple: 2.03×
• Total profit: $60,788
• Equity at exit: $18,157

Cash invested: $58,800 (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 08638

• Rents YoY: 3.3%
• Active inventory: 83
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,551 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$198 /mo · $2,374/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $629

Break-even live

Break-even rent $1,755

Max offer price $210,000

Occupancy floor 70%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	13d	1	0.42mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	0.46mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	0.48mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	13d	1	0.52mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	13d	1	0.54mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	13d	1	0.61mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	13d	1	0.62mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	0.72mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	13d	1	0.78mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.80mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	0.88mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	13d	1	0.91mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	13d	1	0.92mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	13d	1	0.93mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	21d	1	0.94mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	13d	1	1.00mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	13d	1	1.01mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	21d	1	1.07mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	21d	1	1.09mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	21d	1	1.11mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	1.11mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	13d	1	1.23mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	1.25mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	21d	1	1.26mi
21 Bellevue Ave Trenton, NJ	3.0	2.0	1740	$2,400	$1.38	43d	1	1.33mi

Listing history 10 events

1. 2025-09-10
   status Pending
2. 2025-06-21
   historical Active Under Contract
3. 2025-06-21
   listed $210,000 Active
4. 2025-06-19
   historical $210,000
5. 2024-12-19
   status Pending
6. 2024-12-19
   historical
7. 2024-10-30
   price $209,999
8. 2024-09-04
   listed $215,000 Active
9. 2024-09-03
   historical
10. 2016-06-13
    soldstatus $70,000

ⓘ 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: $2,374 · $198/mo
• Projected year-2 tax: $3,801 · $317/mo
• Expected delta: +$1,428/yr (+$119/mo · 60.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,612
• − Mortgage interest: −$11,763
• − Property taxes: −$2,374
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,449
• − Management: −$2,449
• − Depreciation: −$6,109
• Taxable income: $4,418
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $6,485/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: Trenton Public School District
• NCES district ID: 3416290
• Math proficiency: 2% ▼ -8.00%
• Reading proficiency: 16% ▼ -4.00%
• Median HH income: $35,078
• Composite: 7.31/100
• National rank: #9956
• State rank: #471 of 472 in NJ

Livability — Trenton

• Score: 76/100
• State rank: #133
• US rank: #3533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, NJ
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 22,816
• Household income: $66,875
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1185.0

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 381,395 people
• By 2030: 384,640 · +0.9%
• By 2040: 391,431 · +2.6%
• By 2050: 397,845 · +4.3%
• By 2075: 417,281 · +9.4%
• By 2100: 420,327 · +10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 43% White 31% Hispanic / Latino 21% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 2% Iranian 1%
• Foreign-born: 24% · Canada, Guatemala, China
• Languages at home: 76% English-only · Spanish 17% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Mercer

• 2024 margin: Solid D (+33.9) · D 65.9% · R 32.0% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 36.1pp · 2024: 33.9pp
• All cycles: 2024: D+33.9 2020: D+40.0 2016: D+36.2 2012: D+36.8 2008: D+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -286.00%
• Current HPI: 334.5143
• Rent YoY: ▲ 3.31%
• Metro: Trenton-Princeton, NJ
• 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

+200.0% since first listed

10 events — show timeline

• 2025-09-10 Pending — BRIGHT MLS
• 2025-06-21 Contingent — BRIGHT MLS
• 2025-06-21 Listed $210,000 BRIGHT MLS
• 2025-06-19 Coming Soon $210,000 BRIGHT MLS
• 2024-12-19 Pending — BRIGHT MLS
• 2024-12-19 Listing Removed — BRIGHT MLS
• 2024-10-30 Price Changed $209,999 BRIGHT MLS
• 2024-09-04 Listed $215,000 BRIGHT MLS
• 2024-09-03 Coming Soon — BRIGHT MLS
• 2016-06-13 Sold (Public Records) $70,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,374 · +1.5% YoY. Source: county tax records.