297 S Logan Ave · Trenton, NJ 08629

$124,900

3 bd · 1.0 ba · 793 sqft · Townhouse public records · 10 Days on market

Built 1920 1,830 sqft lot Est $178k · 30% 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
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

See past the clutter into this great investment opportunity. This is a 2 bedroom property with an additional 3rd sleeping space/bedroom in the finished attic space, accessed only thru one of the existing bedrooms. Property has been vacant for a while but some trash removal and renovation can bring it back to life. End unit row home with private back yard space, baseboard heating, and full basement. All offers are as-is and buyer is responsible for any/all certificate of occupancy and transfer of title City/State requirements.

Key facts

• Finished attic space
• Full basement
• Built 1920

Tags

• FINISHED ATTIC SPACE
• PRIVATE BACK YARD SPACE
• FULL BASEMENT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: End-of-row townhouse; Fee simple ownership
• Construction: Frame construction; Foundations include brick/mortar, block, and stone; Above-grade and below-grade structures
• Exterior features: Lot roughly 18.3 x 100 feet; No tidal water

Interior

• Bedrooms: Two bedrooms on the first upper level; One bedroom on the second upper level
• Bathrooms: One full bathroom
• Heating & cooling: Hot water baseboard heating; Natural gas heating and hot water
• Interior features: Estimated living area; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $748 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 13.5% 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: Paul S. Robeson Elementary School (341 students, 89% FRL); Hedgepeth Williams Elementary School (math 4% / reading 23%, grade F, #420 of 431 statewide, top 98%, 582 students, 54% FRL); Trenton Central High School - Main Campus (math 2% / reading 10%, grade F, #396 of 399 statewide, top 99%, 2,255 students, 56% FRL).
• Market conditions: 24 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $125k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $124,900

Questions for the listing agent

1. Built in 1920 — 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: 1.65% ✓
• Cap rate: 13.48%
• Cash-on-cash: 25.66%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $178,425
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
480 S Logan Ave	0.20mi	2/1.0 (-1)	852 (+7%)	2mo	$165,000	$194	72
43-1/2 Logan	0.30mi	3/1.0	864 (+9%)	2mo	$161,000	$186	70
478 S Logan Ave	0.19mi	2/1.0 (-1)	852 (+7%)	16mo	$190,000	$223	61
488 S Logan Ave	0.21mi	3/1.5	888 (+12%)	16mo	$175,000	$197	55
249 Hobart Ave	0.28mi	2/1.5 (-1)	910 (+15%)	11mo	$254,500	$280	47
772 Quinton Ave	0.46mi	3/1.5	888 (+12%)	22mo	$200,000	$225	38
522 Hobart Ave	0.40mi	2/1.0 (-1)	896 (+13%)	24mo	$253,000	$282	35
1725 Roberts Ave	0.69mi	2/1.0 (-1)	704 (-11%)	16mo	$245,000	$348	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 1.78×
• Total profit: $27,439
• Equity at exit: $18,623

10-year hold

• IRR: 27.6%
• Equity multiple: 3.44×
• Total profit: $85,398
• Equity at exit: $10,799

Cash invested: $34,972 (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 08629

• Active inventory: 24
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,058 high
• Mortgage (P&I): −$655
• Tax from tax record: −$171 /mo · $2,050/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $748

Break-even live

Break-even rent $1,111

Max offer price $124,900

Occupancy floor 59%

Sensitivity live

Price	-10% $819	-5% $783	+0% $748	+5% $713	+10% $677
Rent	-10% $585	-5% $667	+0% $748	+5% $829	+10% $911
Rate	-1.0pp $811	-0.5pp $780	base $748	+0.5pp $716	+1.0pp $683

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	0.24mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	0.40mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	22d	1	0.40mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	22d	1	0.47mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	22d	1	0.50mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	22d	1	0.63mi
1474 Nottingham Way Hamilton Township, NJ	1.0–2.0	1.0	775	$2,195	$2.83	22d	1	0.78mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	22d	1	0.83mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	22d	1	0.98mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	15d	1	0.99mi
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	22d	1	1.01mi
110 Nottinghill Ln Hamilton Township, NJ	1.0–2.0	1.0	815	$2,345	$2.88	15d	11	1.31mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	15d	1	1.39mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	15d	4	1.39mi
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	22d	1	1.41mi
837 Genesee St Trenton, NJ	2.0	1.0	850	$1,700	$2.00	22d	1	1.44mi
315 Wert Ave Trenton, NJ	2.0	1.0	685	$2,270	$3.31	14d	9	1.46mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	15d	1	1.49mi
191 Parkinson Ave Trenton, NJ	2.0	1.0	664	$2,400	$3.61	15d	1	1.49mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	15d	2	1.50mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $124,900 Pending 10 DOM
2. 2026-06-03
   days on market $124,900 Active 6 DOM
3. 2026-06-02
   days on market $124,900 Active 5 DOM
4. 2026-06-01
   days on market $124,900 Active 4 DOM
5. 2026-05-31
   days on market $124,900 Active 3 DOM
6. 2026-05-30
   days on market $124,900 Active 2 DOM
7. 2026-05-28
   listed $124,900 Active
8. 1988-07-05
   soldstatus $69,900

ⓘ 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: $2,050 · $171/mo
• Projected year-2 tax: $2,580 · $215/mo
• Expected delta: +$530/yr (+$44/mo · 25.9%)

ⓘ 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 ≥102°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: $24,696
• − Mortgage interest: −$6,996
• − Property taxes: −$2,050
• − Insurance: −$624
• − Repairs & maintenance: −$1,976
• − Management: −$1,976
• − Depreciation: −$3,633
• Taxable income: $7,440
• Est. tax owed @ 24.0%: −$1,786
• After-tax cash flow: $7,190/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
• City population: 177,819
• Population (ZIP): 13,015

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 0.61)
• Race & ethnicity: Hispanic / Latino 50% Black 36% White 11% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Dominican 10%
• Common ancestry: Swiss 5% Hispanic 3%
• Foreign-born: 42% · Canada, Jamaica, Guatemala
• Languages at home: 44% English-only · Spanish 45% French/Haitian/Cajun 6% 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: ▼ -331.65%
• Current HPI: 298.7405
• 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

+78.7% since first listed

2 events — show timeline

• 2026-05-28 Listed $124,900 BRIGHT MLS
• 1988-07-05 Sold (Public Records) $69,900 Public Records

Property tax history

-2.2%/yr

Latest (2025): $2,050 · +1.5% YoY. Source: county tax records.