138 The Orchards Unit C · Hightstown, NJ 08512

$145,000

1 bd · 1.0 ba · 800 sqft · Condo · 2 Days on market

Built 1973 Fair condition $536/mo HOA

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Why this score? — see what drove the C 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 +20.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

Key facts

• Desirable location
• $536 HOA
• Community pool

Tags

• FIRST-FLOOR CO-OP UNIT
• SHARED LAUNDRY FACILITIES
• LANDSCAPED COMMON AREAS
• DESIRABLE LOCATION

🏢 Co-op / cooperative unit. The $145,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.0% vs local median 3.2% in Hightstown — 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 75/100 on livability (#158 in NJ, #4,069 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• East Windsor Regional School District (suburban): math 17% / reading 48% proficiency, ranked #287 of 472 in NJ (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 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 $1k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: 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 $145,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.52% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 5.5

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-10,222
• Equity at exit: $21,620

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $9,197
• Equity at exit: $12,537

Cash invested: $40,600 (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 08512

• Active inventory: 61
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,204 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$536
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $203

Break-even live

Break-even rent $1,947

Max offer price $145,000

Occupancy floor 86%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Schindler Dr East Windsor, NJ	1.0	1.0–2.0	923	$2,250	$2.44	1d	2	0.16mi
1 Schindler Dr Unit 1304 East Windsor, NJ	1.0	1.0	812	$2,200	$2.71	17d	1	0.17mi
164 One Mile Rd East Windsor, NJ	1.0–2.0	1.0–2.0	1017	$2,200	$2.16	1d	1	0.55mi
174 One Mile Rd East Windsor, NJ	2.0	2.0	1104	$2,500	$2.26	1d	1	0.62mi
B23 Garden View Ter East Windsor, NJ	1.0	1.0	742	$1,834	$2.47	1d	1	1.11mi
49 Garden View Ter #7 East Windsor, NJ	1.0	1.0	810	$1,850	$2.28	7d	1	1.32mi

HOA detail condo

• Monthly dues: $536 · $6,432/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 2 DOM
2. 2026-06-17
   pricedays on marketlisting id $145,000 Active 1 DOM
3. 2026-06-09
   days on market $142,000 Active 298 DOM
4. 2026-06-08
   days on market $142,000 Active 297 DOM
5. 2026-06-07
   days on market $142,000 Active 296 DOM
6. 2026-06-04
   days on market $142,000 Active 293 DOM
7. 2026-06-03
   days on market $142,000 Active 292 DOM
8. 2026-06-02
   days on market $142,000 Active 291 DOM
9. 2026-06-01
   days on market $142,000 Active 290 DOM
10. 2026-05-31
    days on market $142,000 Active 289 DOM
11. 2026-03-28
    status Active 587-char remark

    Show marketing remark (587 chars)

    This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

12. 2026-03-28
    status Active 587-char remark

    Show marketing remark (587 chars)

    This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

13. 2026-01-22
    historical Active Under Contract 587-char remark

    Show marketing remark (587 chars)

    This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

14. 2026-01-22
    historical Under Contract - Attorney Review 587-char remark

    Show marketing remark (587 chars)

    This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

15. 2025-06-12
    listed $142,000 Active 587-char remark

    Show marketing remark (587 chars)

    This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

16. 2025-06-12
    listed $142,000 Active 587-char remark

    Show marketing remark (587 chars)

    This charming 1-bedroom, 1-bath first-floor co-op unit offers comfortable living in a quiet, well-maintained community. The home features a bright and open layout with a spacious living area and a large bedroom. Located on the ground level for easy access, this unit also includes shared laundry facilities and beautifully landscaped common areas. Conveniently situated near shopping, restaurants, parks, and major highways, this is a perfect opportunity for affordable homeownership in a desirable location. Please note that only Cash Buyers and Owner occupants are permitted by the HOA

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥100°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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,442
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,115
• − Management: −$2,115
• − HOA: −$6,432
• − Depreciation: −$4,218
• Taxable income: $539
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $2,303/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

Fair 45/100 Cosmetic rehab

This 1-bedroom, 1-bath condo offers a fair condition with cosmetic updates needed to enhance its curb appeal and value.

Repairs flagged

• Minor exterior paint — Slight discoloration on brick
• Minor interior paint — Slight fading
• Minor kitchen appliances — Dated design

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Paint interior — Improves appearance and value
• Both Replace kitchen appliances — Modernizes the space and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Slight discoloration on brick	Minor	$500–3,000
interior paint · Slight fading	Minor	$500–3,000
kitchen appliances · Dated design	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Paint interior — Improves appearance and value ↑
• Both Replace kitchen appliances — Modernizes the space and adds value ↑

ⓘ 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: East Windsor Regional School District
• NCES district ID: 3404320
• Math proficiency: 17% ▼ -26.00%
• Reading proficiency: 48% ▼ -9.00%
• Median HH income: $80,846
• Composite: 31.1/100
• National rank: #6072
• State rank: #287 of 472 in NJ

Livability — Hightstown

• Score: 75/100
• State rank: #158
• US rank: #4069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 29,504
• Population (ZIP): 12,511

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: White 47% Asian 26% Hispanic / Latino 15% Black 9% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 4% Scotch-Irish 2% Serbian 1%
• Foreign-born: 34% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 12% Other Indo-European 11% Chinese 7%

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: ▼ -140.73%
• Current HPI: 258.8171
• 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

6 events — show timeline

• 2026-03-28 Relisted — CJMLS
• 2026-03-28 Relisted — BRIGHT MLS
• 2026-01-22 Contingent — BRIGHT MLS
• 2026-01-22 Contingent — CJMLS
• 2025-06-12 Listed $142,000 BRIGHT MLS
• 2025-06-12 Listed $142,000 CJMLS