1241 ANDERSON Ave #19 · Fort Lee, NJ 07024

$175,000

1 bd · 1.0 ba · 500 sqft · Condo · 22 Days on market

Good condition $780/mo HOA · 29% of rent

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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 +17.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.9/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 1 bedroom home with parking in Fort Lee’s desirable Plateau Gardens! Hardwood floors throughout, and the spacious kitchen has custom wood cabinetry, tiled backsplash, and ceiling fan. The bedroom is large with sunny south facing windows, and the bathroom has white cabinets, white tiles, and gold accents. Heat, water, taxes, cable, internet landscaping, snow removal and parking spot #19 are included in the monthly HOA fee. Laundry room on site. 4x8 storage room is available for rent for $50/month. The Plateau Gardens are conveniently located next to transit to NYC, post office, grocery store, restaurants and schools.

Key facts

• Gold accents
• Ceiling fan
• White cabinets

Tags

• CUSTOM WOOD CABINETRY
• TILED BACKSPLASH
• CEILING FAN
• SUNNY SOUTH FACING WINDOWS
• WHITE CABINETS
• GOLD ACCENTS

Property features AI

Finance

• Other: Lead paint form: Yes; Pets not allowed; Lot number 4; Approximately 500 square feet; Some personal property and a white floor-height cabinet in the kitchen are excluded
• HOA & community: Managed by Delev Property Management (contact: [phone]); Monthly maintenance fee $780 (2026); Maintenance covers taxes, water, gas, parking, and hot water; Complex: Plateau Gardens

Exterior

• Parking: Parking space for 1 car (spot #19)
• Utilities: Water included in maintenance; Gas included in maintenance; Hot water included in maintenance; Power (standard utilities available)
• Home design: Condominium in Plateau Gardens, Fort Lee; Entry level: 1
• Construction: Brick construction
• Exterior features: Brick exterior; Shared backyard; Near shopping, bus, parks, and schools; Installed parking spot #19

Interior

• Kitchen: One kitchen with gas oven/range and refrigerator
• Bedrooms: 1 bedroom (level 1)
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiator heating; Gas heating; Window air conditioning
• Interior features: Hardwood floors; Refrigerator; Washer/Dryer; Gas oven/range; Window A/C; Radiator heating; Gas heating
• Laundry & utility: Washer/Dryer included; Shared washer/dryer room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 1.5% in Fort Lee — 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 89/100 on livability (#2 in NJ, #139 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Fort Lee School District (suburban): math 46% / reading 63% proficiency, ranked #105 of 472 in NJ (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: School No. 4 (math 57% / reading 57%, grade C+, #145 of 1,303 statewide, top 12%, 400 students, 10% FRL); Lewis F. Cole Middle School (math 43% / reading 64%, grade C+, #77 of 431 statewide, top 18%, 1,194 students, 16% FRL); Fort Lee High School (math 35% / reading 66%, grade D+, #101 of 399 statewide, top 26%, 1,160 students, 12% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: Rents flat; 207 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• This rent runs 30% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($172k) 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

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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 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: 1.54% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.39%
• DSCR: 1.15
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.50×
• Total profit: $-24,456
• Equity at exit: $26,093

10-year hold

• IRR: -11.6%
• Equity multiple: 0.40×
• Total profit: $-29,259
• Equity at exit: $15,131

Cash invested: $49,000 (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 07024

• Home prices YoY: -19.8%
• Rents YoY: 0.9%
• Active inventory: 207
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,694 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$780
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $139

Break-even live

Break-even rent $2,518

Max offer price $175,000

Occupancy floor 90%

Sensitivity live

Price	-10% $260	-5% $199	+0% $139	+5% $78	+10% $18
Rent	-10% $-74	-5% $32	+0% $139	+5% $245	+10% $351
Rate	-1.0pp $227	-0.5pp $183	base $139	+0.5pp $93	+1.0pp $47

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1350 15th St Fort Lee, NJ	1.0–2.0	1.0–2.0	756	$2,550	$3.37	0d	3	0.29mi
1203 River Rd Unit 17M Edgewater, NJ	—	1.0	650	$2,450	$3.77	9d	1	0.72mi
695 Anderson Ave Cliffside Park, NJ	2.0	1.0–2.0	938	$3,440	$3.67	26d	15	0.94mi
691 Anderson Ave Unit 1112 Cliffside Park, NJ	—	1.0	600	$2,950	$4.92	26d	1	0.94mi
691 Anderson Ave Unit 1214 Cliffside Park, NJ	—	1.0	600	$2,875	$4.79	26d	1	0.94mi
691 Anderson Ave Unit 1116 Cliffside Park, NJ	—	1.0	602	$2,975	$4.94	26d	1	0.94mi
691 Anderson Ave Unit 1012 Cliffside Park, NJ	—	1.0	600	$2,805	$4.67	26d	1	0.94mi
691 Anderson Ave Unit 1516 Cliffside Park, NJ	—	1.0	600	$2,595	$4.33	26d	1	0.94mi
691 Anderson Ave Unit 1412 Cliffside Park, NJ	—	1.0	600	$3,100	$5.17	26d	1	0.94mi
691 Anderson Ave Ph 12 Cliffside Park, NJ	—	1.0	600	$3,250	$5.42	26d	1	0.94mi
1015 Ponsi St Fort Lee, NJ	—	1.0	390	$1,700	$4.36	20d	1	0.95mi
2020 Hudson St Unit 930 Fort Lee, NJ	—	1.0	630	$2,350	$3.73	26d	1	0.97mi
2020 Hudson St Unit 1236 Fort Lee, NJ	—	1.0	630	$2,328	$3.70	26d	1	0.97mi
2 Columbia Ter Edgewater, NJ	1.0	1.0	500	$1,650	$3.30	17d	1	0.98mi
2030 Hudson St Fort Lee, NJ	3.0	1.0–2.5	1341	$4,517	$3.37	0d	1	1.00mi
2055 Center Ave Fort Lee, NJ	—	1.0	575	$2,500	$4.35	26d	1	1.00mi
2040 Hudson St Unit 514 Fort Lee, NJ	—	1.0	590	$2,358	$4.00	26d	1	1.01mi
69 Main St Fort Lee, NJ	2.0	1.0–2.0	1126	$3,925	$3.48	26d	7	1.03mi
495 Main ST Unit 1L Fort Lee, NJ	1.0	1.0	625	$1,850	$2.96	17d	1	1.04mi
508 Broad Ave Palisades Park, NJ	1.0	1.0	650	$2,250	$3.46	3d	1	1.06mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$3,593	$2.78	0d	9	1.07mi
509 Broad Ave Palisades Park, NJ	1.0	1.0	500	$1,850	$3.70	6d	1	1.09mi
800 Park Ave Fort Lee, NJ	3.0	1.0–3.0	1122	$5,704	$5.08	0d	42	1.12mi
658-660 Palisade Ave Cliffside Park, NJ	1.0	1.0	530	$1,900	$3.58	18d	2	1.14mi
2050 Central Rd Fort Lee, NJ	1.0–2.0	1.0–2.0	1013	$3,378	$3.33	0d	11	1.15mi
243 Lincoln Ave Apt 1 Cliffside Park, NJ	1.0	1.0	750	$2,995	$3.99	26d	1	1.16mi
2100 N Central Rd Fort Lee, NJ	2.0	1.0–2.0	699	$3,622	$5.18	0d	20	1.27mi
210 Broad Ave Unit 3B Leonia, NJ	1.0	1.0	700	$2,295	$3.28	9d	1	1.30mi
930 Banta Pl Ridgefield, NJ	1.0–2.0	1.0	785	$2,025	$2.58	0d	9	1.32mi
100 River Mews Ln Edgewater, NJ	3.0	1.0–2.0	988	$3,677	$3.72	0d	1	1.47mi

HOA detail condo

• Monthly dues: $780 · $9,360/yr
• Likely covers: waterinternetcablelandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-13
   statusdays on marketlisting id $175,000 Under Contract 22 DOM
2. 2026-06-09
   days on market $175,000 Active Under Contract - Attorney Review 20 DOM
3. 2026-06-08
   days on market $175,000 Active Under Contract - Attorney Review 19 DOM
4. 2026-06-07
   days on market $175,000 Active Under Contract - Attorney Review 18 DOM
5. 2026-06-04
   days on market $175,000 Active Under Contract - Attorney Review 15 DOM
6. 2026-06-03
   days on market $175,000 Active Under Contract - Attorney Review 14 DOM
7. 2026-06-02
   days on market $175,000 Active Under Contract - Attorney Review 13 DOM
8. 2026-06-01
   days on market $175,000 Active Under Contract - Attorney Review 12 DOM
9. 2026-05-31
   days on market $175,000 Active Under Contract - Attorney Review 11 DOM
10. 2026-05-20
    listed $175,000 Active

    Show marketing remark (652 chars)

    Beautiful 1 bedroom home with parking in Fort Lee’s desirable Plateau Gardens! Hardwood floors throughout, and the spacious kitchen has custom wood cabinetry, tiled backsplash, and ceiling fan. The bedroom is large with sunny south facing windows, and the bathroom has white cabinets, white tiles, and gold accents. Heat, water, taxes, cable, internet landscaping, snow removal and parking spot #19 are included in the monthly HOA fee. Laundry room on site. 4x8 storage room is available for rent for $50/month. The Plateau Gardens are conveniently located next to transit to NYC, post office, grocery store, restaurants and schools.

11. 2026-05-20
    listed $175,000 Active 652-char remark

    Show marketing remark (652 chars)

    Beautiful 1 bedroom home with parking in Fort Lee’s desirable Plateau Gardens! Hardwood floors throughout, and the spacious kitchen has custom wood cabinetry, tiled backsplash, and ceiling fan. The bedroom is large with sunny south facing windows, and the bathroom has white cabinets, white tiles, and gold accents. Heat, water, taxes, cable, internet landscaping, snow removal and parking spot #19 are included in the monthly HOA fee. Laundry room on site. 4x8 storage room is available for rent for $50/month. The Plateau Gardens are conveniently located next to transit to NYC, post office, grocery store, restaurants and schools.

ⓘ 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 ≥99°F today · 14 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: $32,324
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,586
• − Management: −$2,586
• − HOA: −$9,360
• − Depreciation: −$5,091
• Taxable loss: −$602
• Est. tax savings @ 24.0%: +$144
• After-tax cash flow: $1,807/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 · 15 photos

Good 80/100 Cosmetic rehab

This well-maintained townhouse in Fort Lee's Plateau Gardens offers a good investment opportunity with minimal repairs and a good condition score.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace ceiling fan — Improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace ceiling fan — Improves energy efficiency and aesthetics ↑

ⓘ 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: Fort Lee School District
• NCES district ID: 3405310
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 63% ▼ -11.00%
• Median HH income: $71,442
• Composite: 48.5/100
• National rank: #2121
• State rank: #105 of 472 in NJ

Livability — Fort Lee

• Score: 89/100
• State rank: #2
• US rank: #139

Category grades

Amenities A+ Commute A+ 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

• Census place: Fort Lee, NJ
• County: Bergen County · 586,961 people
• City population: 40,024
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 40,024
• Household income: $107,396
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 1963.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Asian 44% White 38% Hispanic / Latino 12% Two or more races 9% Black 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 1% Dominican 4%
• Common ancestry: Scotch-Irish 5% Romanian 3% Scandinavian 1%
• Foreign-born: 50% · South Korea, China, Canada
• Languages at home: 39% English-only · Korean 21% Spanish 10% Chinese 9%

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: ▼ -61.44%
• Current HPI: 248.6123
• Rent YoY: ▲ 0.95%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-20 Listed $175,000 NJMLS
• 2026-05-20 Listed $175,000 HCMLS