532 Ringwood Ave · Wanaque, NJ 07465

$975,000

15 bd · 15.0 ba · — sqft · MultiFamily · 55 Days on market

Excellent condition 3,999 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This stunning, turn-key 3-family property has been completely renovated from top to bottom and is ready for its next owner. Featuring a total of 5 bedrooms and 5 bathrooms across three spacious units, it's the perfect setup as owner-occupy one unit while generating rental income, or for investors seeking a strong cash-flowing asset. Each unit boasts modern, high-end finishes including elegant quartz countertops in both the kitchens and bathrooms, sleek stainless steel appliances, and convenient washer/dryer hookups. You'll also enjoy central air conditioning for year-round comfort and fully split utilities meaning each unit has its own separate metering for electricity, gas, and water, which simplifies billing and maximizes landlord convenience. Outside, the property offers 5 private off-street parking spots a rare and valuable feature that adds convenience and appeal for residents.Best of all, the home is completely vacant and move-in ready. No tenants to take over, no repairs needed just immediate possession and endless possibilities. Live in one unit and rent the others, or lease all three for instant income potential.This beautifully updated multi-family gem combines modern living, low-maintenance ownership, and excellent investment value. Don't miss out schedule a showing today!

Key facts

• Move-in ready
• Washer dryer hookups
• Completely renovated

Tags

• COMPLETELY RENOVATED
• MODERN HIGH-END FINISHES
• ELEGANT QUARTZ COUNTERTOPS
• WASHER DRYER HOOKUPS
• CENTRAL AIR CONDITIONING
• MOVE-IN READY

Property features AI

Finance

• Other: Information not provided
• Financial info: Information not provided
• HOA & community: Information not provided

Exterior

• Parking: 5 parking spaces
• Security: Information not provided
• Utilities: Natural gas connected; Electricity connected; Water connected
• Home design: Multi-family residential income property
• Construction: Information not provided
• Exterior features: Natural gas available; Electricity connected; Water connected

Interior

• Kitchen: Information not provided
• Bedrooms: Information not provided
• Flooring: Information not provided
• Bathrooms: 5 full bathrooms
• Heating & cooling: Information not provided
• Interior features: 12 total rooms
• Laundry & utility: Information not provided

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/5.0-bath units multifamily listed at $975k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $975k).
• Recommended offer: $946k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#227 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Wanaque School District (suburban): math 27% / reading 49% proficiency, ranked #222 of 472 in NJ (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 18 active listings in the ZIP; 860 units permitted in Passaic County in 2024 (614 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• Passaic County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $273k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($946k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $945,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.38% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.26%
• DSCR: 1.77
• GRM: 6.0

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: 8.6%
• Equity multiple: 1.34×
• Total profit: $92,324
• Equity at exit: $145,376

10-year hold

• IRR: 17.8%
• Equity multiple: 2.48×
• Total profit: $403,281
• Equity at exit: $84,300

Cash invested: $273,000 (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 07465

• Active inventory: 18
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $13,500 medium
• Mortgage (P&I): −$5,113
• Tax est. 1.5%: −$1,219 /mo · $14,625/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,835
• Net cashflow: $3,927

Break-even live

Break-even rent $8,529

Max offer price $975,000

Occupancy floor 66%

Sensitivity live

Price	-10% $4,601	-5% $4,264	+0% $3,927	+5% $3,590	+10% $3,253
Rent	-10% $2,860	-5% $3,394	+0% $3,927	+5% $4,460	+10% $4,993
Rate	-1.0pp $4,418	-0.5pp $4,175	base $3,927	+0.5pp $3,674	+1.0pp $3,417

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	5	$13,500
Total (3 units)			$13,500

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $975,000 Active 55 DOM
2. 2026-06-18
   days on market $975,000 Active 52 DOM
3. 2026-06-17
   days on market $975,000 Active 51 DOM
4. 2026-06-16
   days on market $975,000 Active 50 DOM
5. 2026-06-15
   days on market $975,000 Active 49 DOM
6. 2026-06-13
   days on market $975,000 Active 47 DOM
7. 2026-06-13
   days on market $975,000 Active 46 DOM
8. 2026-06-09
   days on market $975,000 Active 43 DOM
9. 2026-06-08
   days on market $975,000 Active 42 DOM
10. 2026-06-07
    days on market $975,000 Active 41 DOM
11. 2026-06-04
    days on market $975,000 Active 38 DOM
12. 2026-06-03
    days on market $975,000 Active 37 DOM
13. 2026-06-02
    days on market $975,000 Active 36 DOM
14. 2026-06-01
    days on market $975,000 Active 35 DOM
15. 2026-05-31
    days on market $975,000 Active 34 DOM
16. 2026-04-30
    listed $975,000 Active 1304-char remark

    Show marketing remark (1304 chars)

    This stunning, turn-key 3-family property has been completely renovated from top to bottom and is ready for its next owner. Featuring a total of 5 bedrooms and 5 bathrooms across three spacious units, it's the perfect setup as owner-occupy one unit while generating rental income, or for investors seeking a strong cash-flowing asset. Each unit boasts modern, high-end finishes including elegant quartz countertops in both the kitchens and bathrooms, sleek stainless steel appliances, and convenient washer/dryer hookups. You'll also enjoy central air conditioning for year-round comfort and fully split utilities meaning each unit has its own separate metering for electricity, gas, and water, which simplifies billing and maximizes landlord convenience. Outside, the property offers 5 private off-street parking spots a rare and valuable feature that adds convenience and appeal for residents.Best of all, the home is completely vacant and move-in ready. No tenants to take over, no repairs needed just immediate possession and endless possibilities. Live in one unit and rent the others, or lease all three for instant income potential.This beautifully updated multi-family gem combines modern living, low-maintenance ownership, and excellent investment value. Don't miss out schedule a showing today!

17. 2026-04-27
    listed $975,000 Active

    Show marketing remark (1304 chars)

    This stunning, turn-key 3-family property has been completely renovated from top to bottom and is ready for its next owner. Featuring a total of 5 bedrooms and 5 bathrooms across three spacious units, it's the perfect setup as owner-occupy one unit while generating rental income, or for investors seeking a strong cash-flowing asset. Each unit boasts modern, high-end finishes including elegant quartz countertops in both the kitchens and bathrooms, sleek stainless steel appliances, and convenient washer/dryer hookups. You'll also enjoy central air conditioning for year-round comfort and fully split utilities meaning each unit has its own separate metering for electricity, gas, and water, which simplifies billing and maximizes landlord convenience. Outside, the property offers 5 private off-street parking spots a rare and valuable feature that adds convenience and appeal for residents.Best of all, the home is completely vacant and move-in ready. No tenants to take over, no repairs needed just immediate possession and endless possibilities. Live in one unit and rent the others, or lease all three for instant income potential.This beautifully updated multi-family gem combines modern living, low-maintenance ownership, and excellent investment value. Don't miss out schedule a showing today!

18. 2026-04-27
    historical $975,000 1304-char remark

    Show marketing remark (1304 chars)

    This stunning, turn-key 3-family property has been completely renovated from top to bottom and is ready for its next owner. Featuring a total of 5 bedrooms and 5 bathrooms across three spacious units, it's the perfect setup as owner-occupy one unit while generating rental income, or for investors seeking a strong cash-flowing asset. Each unit boasts modern, high-end finishes including elegant quartz countertops in both the kitchens and bathrooms, sleek stainless steel appliances, and convenient washer/dryer hookups. You'll also enjoy central air conditioning for year-round comfort and fully split utilities meaning each unit has its own separate metering for electricity, gas, and water, which simplifies billing and maximizes landlord convenience. Outside, the property offers 5 private off-street parking spots a rare and valuable feature that adds convenience and appeal for residents.Best of all, the home is completely vacant and move-in ready. No tenants to take over, no repairs needed just immediate possession and endless possibilities. Live in one unit and rent the others, or lease all three for instant income potential.This beautifully updated multi-family gem combines modern living, low-maintenance ownership, and excellent investment value. Don't miss out schedule a showing today!

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 8 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $162,000
• − Mortgage interest: −$54,615
• − Property taxes: −$14,625
• − Insurance: −$4,875
• − Repairs & maintenance: −$12,960
• − Management: −$12,960
• − Depreciation: −$28,364
• Taxable income: $33,601
• Est. tax owed @ 24.0%: −$8,064
• After-tax cash flow: $39,060/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 · 12 photos

Excellent 100/100 None rehab

This stunning, turn-key 3-family property has been completely renovated and is ready for its next owner. Each unit boasts modern, high-end finishes and central air conditioning, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Addition of smart home features — Improves convenience and adds value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Addition of smart home features — Improves convenience and adds value for both resale and rental. ↑

ⓘ 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: Wanaque School District
• NCES district ID: 3416950
• Math proficiency: 27% ▼ -28.00%
• Reading proficiency: 49% ▼ -23.00%
• Median HH income: $85,149
• Composite: 36.11/100
• National rank: #4752
• State rank: #222 of 472 in NJ

Livability — Wanaque

• Score: 72/100
• State rank: #227
• US rank: #6188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wanaque, NJ
• City population: 11,204
• Population (ZIP): 5,969

Population outlook (Passaic County) Hauer SSP2

• Today (2025): 525,915 people
• By 2030: 532,160 · +1.2%
• By 2040: 543,670 · +3.4%
• By 2050: 554,326 · +5.4%
• By 2075: 584,728 · +11.2%
• By 2100: 598,978 · +13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 10% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 13% Iranian 3% Lithuanian 2%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 10% Russian/Polish/Slavic 4% Other Indo-European 2%

Political lean MEDSL · Passaic

• 2024 margin: Toss-up / Even · D 46.9% · R 49.8% · Other 3.3%
• 2008→2024 swing: -24.6pp toward R · 2008: 21.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+16.5 2016: D+21.8 2012: D+27.3 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -182.92%
• Current HPI: 306.5179
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-30 Listed $975,000 GSMLS
• 2026-04-27 Listed $975,000 NJMLS
• 2026-04-27 Coming Soon $975,000 GSMLS