9 Bissell St · Wharton, NJ 07803-3201

$460,000

3 bd · 2.0 ba · 1,811 sqft · SingleFamily public records · 65 Days on market

Built 1915 4,791 sqft lot $254/sqft · 11% below area Est $515k · 11% under

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Why this score? — see what drove the D 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).

• ARV discount +12.3/15.0
• Cash flow +7.7/30.0
• Schools +5.6/10.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks MLS

Welcome to 9 Bissell Street, a beautifully maintained circa 1915 Craftsman home in the heart of Mine Hill. This charming residence showcases timeless character with modern updates throughout.A standout feature is the stunning stone front porch perfect for relaxing and enjoying the neighborhood setting. Inside, you'll find refreshed hardwood floors that enhance the home's warmth and original craftsmanship, along with abundant natural light flowing through the living spaces.The updated kitchen offers both style and functionality, ideal for everyday living and entertaining. Additional updates include a new roof, providing peace of mind for years to come.Conveniently located near parks, shopping, dining, and major commuting routes, this home offers the perfect blend of classic charm and modern convenience.

Key facts

• 4,791 sq ft lot
• 3 parking spots
• Built 1915

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $460k.

Deal economics

• At list price, monthly cash flow is $-524 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $367k (20.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (25.0% below list).
• Recommended offer: $345k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#245 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute D-, cost of living F.
• Mine Hill Township School District (suburban): math 55% / reading 65% proficiency, ranked #233 of 612 in NJ (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Canfield Avenue School (math 22% / reading 47%, grade F, #582 of 1,303 statewide, top 49%, 355 students, 26% FRL).
• Zoned-school proficiency averages 34% at this address vs 60% district-wide (-26 pts) — the specific schools serving this property underperform the Mine Hill Township School District average; the district grade overstates school quality for this exact location.
• Market conditions: 1 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($3k loan paydown + $14k appreciation (3.0% local appreciation)).
• Morris County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $460k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,837 (25.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 4.93%
• Cash-on-cash: -4.88%
• DSCR: 0.78
• GRM: 11.1

CMA / ARV

• ARV (median comp): $515,468
• List price: $460,000
• Delta: -10.76%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.0%
• Equity multiple: 1.17×
• Total profit: $22,145
• Equity at exit: $206,836

10-year hold

• IRR: 6.4%
• Equity multiple: 1.98×
• Total profit: $125,794
• Equity at exit: $318,759

Cash invested: $128,800 (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 07803-3201

• Active inventory: 1
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,448 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$644 /mo · $7,729/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $-524

Break-even live

Break-even rent $4,111

Max offer price $367,464

Occupancy floor —

Sensitivity live

Price	-10% $-263	-5% $-394	+0% $-524	+5% $-654	+10% $-784
Rent	-10% $-796	-5% $-660	+0% $-524	+5% $-388	+10% $-251
Rate	-1.0pp $-292	-0.5pp $-407	base $-524	+0.5pp $-643	+1.0pp $-764

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Center Grove Rd Randolph, NJ	2.0	2.0–2.5	1484	$3,848	$2.59	0d	6	1.31mi
29 Oxford Rd Unit 29 Wharton, NJ	3.0	3.0	2150	$3,250	$1.51	20d	1	1.38mi
1 W Dickerson St Dover, NJ	1.0–2.0	1.0–2.0	943	$3,095	$3.28	0d	21	1.42mi

Listing history 20 events

1. 2026-06-21
   days on market $460,000 Active 65 DOM
2. 2026-06-18
   days on market $460,000 Active 62 DOM
3. 2026-06-17
   days on market $460,000 Active 61 DOM
4. 2026-06-16
   days on market $460,000 Active 60 DOM
5. 2026-06-15
   days on market $460,000 Active 59 DOM
6. 2026-06-13
   days on market $460,000 Active 57 DOM
7. 2026-06-13
   pricedays on market $460,000 Active 56 DOM
8. 2026-06-09
   days on market $500,000 Active 53 DOM
9. 2026-06-08
   days on market $500,000 Active 52 DOM
10. 2026-06-07
    days on market $500,000 Active 51 DOM
11. 2026-06-04
    days on market $500,000 Active 48 DOM
12. 2026-06-03
    days on market $500,000 Active 47 DOM
13. 2026-06-02
    days on market $500,000 Active 46 DOM
14. 2026-06-01
    days on market $500,000 Active 45 DOM
15. 2026-05-31
    days on market $500,000 Active 44 DOM
16. 2026-04-29
    price $500,000 813-char remark

    Show marketing remark (813 chars)

    Welcome to 9 Bissell Street, a beautifully maintained circa 1915 Craftsman home in the heart of Mine Hill. This charming residence showcases timeless character with modern updates throughout.A standout feature is the stunning stone front porch perfect for relaxing and enjoying the neighborhood setting. Inside, you'll find refreshed hardwood floors that enhance the home's warmth and original craftsmanship, along with abundant natural light flowing through the living spaces.The updated kitchen offers both style and functionality, ideal for everyday living and entertaining. Additional updates include a new roof, providing peace of mind for years to come.Conveniently located near parks, shopping, dining, and major commuting routes, this home offers the perfect blend of classic charm and modern convenience.

17. 2026-04-17
    listed $525,000 Active 813-char remark

    Show marketing remark (813 chars)

    Welcome to 9 Bissell Street, a beautifully maintained circa 1915 Craftsman home in the heart of Mine Hill. This charming residence showcases timeless character with modern updates throughout.A standout feature is the stunning stone front porch perfect for relaxing and enjoying the neighborhood setting. Inside, you'll find refreshed hardwood floors that enhance the home's warmth and original craftsmanship, along with abundant natural light flowing through the living spaces.The updated kitchen offers both style and functionality, ideal for everyday living and entertaining. Additional updates include a new roof, providing peace of mind for years to come.Conveniently located near parks, shopping, dining, and major commuting routes, this home offers the perfect blend of classic charm and modern convenience.

18. 2026-04-15
    historical $525,000 813-char remark

    Show marketing remark (813 chars)

    Welcome to 9 Bissell Street, a beautifully maintained circa 1915 Craftsman home in the heart of Mine Hill. This charming residence showcases timeless character with modern updates throughout.A standout feature is the stunning stone front porch perfect for relaxing and enjoying the neighborhood setting. Inside, you'll find refreshed hardwood floors that enhance the home's warmth and original craftsmanship, along with abundant natural light flowing through the living spaces.The updated kitchen offers both style and functionality, ideal for everyday living and entertaining. Additional updates include a new roof, providing peace of mind for years to come.Conveniently located near parks, shopping, dining, and major commuting routes, this home offers the perfect blend of classic charm and modern convenience.

19. 1988-09-06
    soldstatus $140,000
20. 1978-10-01
    soldstatus $48,000

ⓘ 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: $7,729 · $644/mo
• Projected year-2 tax: $9,592 · $799/mo
• Expected delta: +$1,862/yr (+$155/mo · 24.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $41,380
• − Mortgage interest: −$25,767
• − Property taxes: −$7,729
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,310
• − Management: −$3,310
• − Depreciation: −$13,382
• Taxable loss: −$14,418
• Est. tax savings @ 24.0%: +$3,460
• After-tax cash flow: $-2,826/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: Mine Hill Township School District
• NCES district ID: 3410350
• Math proficiency: 55% ▼ -5.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $87,344
• Composite: 56.23/100
• National rank: #2507
• State rank: #233 of 612 in NJ

Livability — Wharton

• Score: 71/100
• State rank: #245
• US rank: #6817

Category grades

Amenities F Commute D- 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

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+941.7% since first listed

5 events — show timeline

• 2026-04-29 Price Changed $500,000 GSMLS
• 2026-04-17 Listed $525,000 GSMLS
• 2026-04-15 Coming Soon $525,000 GSMLS
• 1988-09-06 Sold (Public Records) $140,000 Public Records
• 1978-10-01 Sold (Public Records) $48,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $7,729 · +0.4% YoY. Source: county tax records.