35 Jersey St · Trenton, NJ 08611

$199,000

4 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 21 Days on market

Built 1908 1,260 sqft lot Est $284k · 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.8/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 35 Jersey Street—an excellent opportunity for both investors and owner-occupants! This move-in-ready home features brand-new flooring, fresh paint throughout, 4 spacious bedrooms, and 1 full bathroom. New Furnace! Enjoy the convenience of on-street permit parking and a fenced-in backyard, perfect for relaxing or entertaining.

Key facts

• New furnace
• Fresh paint
• New flooring

Tags

• NEW FLOORING
• FRESH PAINT
• NEW FURNACE
• ON-STREET PERMIT PARKING
• FENCED-IN BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: schools F, 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.
• Market conditions: Rents rising fast (+4.7%/yr); 84 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• At $2,342/mo this rent would consume 49% of the median local household income ($57k/yr) (locally 2147% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 4.7% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago 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.
• Current owner paid $90k; list at $199k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• 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 $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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: 1.18% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $284,256
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Jeremiah Ave	0.57mi	3/1.0 (-1)	1,108 (+10%)	7mo	$325,000	$293	47
412 Bow Hill Ave	0.74mi	3/2.0 (-1)	1,014 (+1%)	13mo	$325,000	$321	44
55 Jeremiah Ave	0.56mi	3/1.0 (-1)	1,108 (+10%)	15mo	$302,000	$273	40
147 Jeremiah Ave	0.64mi	4/1.0	1,085 (+8%)	21mo	$310,000	$286	40
26 Barricklo St	0.64mi	3/1.0 (-1)	1,108 (+10%)	20mo	$282,500	$255	32
436 Woodland St	0.72mi	3/1.0 (-1)	1,092 (+8%)	22mo	$288,000	$264	30
1109 Genesee St	0.74mi	3/1.0 (-1)	888 (-12%)	20mo	$250,000	$282	24

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $5,282
• Equity at exit: $29,672

10-year hold

• IRR: 13.6%
• Equity multiple: 2.17×
• Total profit: $65,073
• Equity at exit: $17,206

Cash invested: $55,720 (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 08611

• Rents YoY: 4.7%
• Active inventory: 84
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,342 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$199 /mo · $2,385/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $525

Break-even live

Break-even rent $1,678

Max offer price $199,000

Occupancy floor 73%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	13d	1	0.19mi
244 Jersey St Trenton, NJ	3.0	1.5	1368	$2,300	$1.68	13d	1	0.22mi
547 Centre St Trenton, NJ	3.0	1.0	1060	$1,850	$1.75	21d	1	0.33mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	21d	1	0.40mi
233 Virginia Ave Trenton, NJ	3.0	1.0	1302	$2,500	$1.92	12d	1	0.49mi
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	13d	1	0.59mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	21d	1	0.73mi
1132 Genesee St Unit 1132 Trenton, NJ	3.0	1.0	1198	$2,500	$2.09	21d	1	0.79mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	13d	1	0.98mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	1.08mi
117 Park Ave Morrisville, PA	3.0	2.0	1396	$3,200	$2.29	12d	1	1.26mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	1.31mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	1.40mi
130 Harper Ave Morrisville, PA	3.0	2.5	1276	$3,500	$2.74	12d	1	1.45mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	1.48mi

Listing history 19 events

1. 2026-04-10
   status Pending
2. 2026-03-20
   listed $199,000 Active
3. 2026-02-09
   soldstatus $90,000
4. 2010-12-31
   historical
5. 2009-03-23
   listed $54,999
6. 2008-05-15
   historical
7. 2008-01-14
   historical
8. 2008-01-07
   listed $69,900
9. 2008-01-03
   historical
10. 2007-12-26
    listed $89,900
11. 2007-07-16
    listed $94,900
12. 2007-06-13
    historical
13. 2006-12-18
    listed $89,900
14. 2006-11-30
    historical
15. 2006-02-28
    historical
16. 2005-12-03
    listed $99,000
17. 2005-12-03
    listed $110,000
18. 1996-11-18
    soldstatus $25,000
19. 1996-11-01
    soldstatus $25,000

ⓘ 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: $2,385 · $199/mo
• Projected year-2 tax: $3,670 · $306/mo
• Expected delta: +$1,285/yr (+$107/mo · 53.9%)

ⓘ 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 (unshaded) · 0% 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: $28,103
• − Mortgage interest: −$11,147
• − Property taxes: −$2,385
• − Insurance: −$995
• − Repairs & maintenance: −$2,248
• − Management: −$2,248
• − Depreciation: −$5,789
• Taxable income: $3,290
• Est. tax owed @ 24.0%: −$790
• After-tax cash flow: $5,508/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
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 31,995
• Household income: $56,788
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 2147.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 62% Black 20% Two or more races 18% White 14% Native American 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 2% Swiss 1% Hispanic 1%
• Foreign-born: 37% · Canada, Jamaica, Guatemala
• Languages at home: 41% English-only · Spanish 57% French/Haitian/Cajun 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: ▼ -267.62%
• Current HPI: 276.5427
• Rent YoY: ▲ 4.71%
• Metro: Trenton-Princeton, NJ
• 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

+696.0% since first listed

19 events — show timeline

• 2026-04-10 Pending — BRIGHT MLS
• 2026-03-20 Listed $199,000 BRIGHT MLS
• 2026-02-09 Sold (Public Records) $90,000 Public Records
• 2010-12-31 Listing Removed — BRIGHT MLS
• 2009-03-23 Listed $54,999 BRIGHT MLS
• 2008-05-15 Listing Removed — BRIGHT MLS
• 2008-01-14 Listing Removed — BRIGHT MLS
• 2008-01-07 Listed $69,900 BRIGHT MLS
• 2008-01-03 Listing Removed — BRIGHT MLS
• 2007-12-26 Listed $89,900 BRIGHT MLS
• 2007-07-16 Listed $94,900 BRIGHT MLS
• 2007-06-13 Listing Removed — BRIGHT MLS
• 2006-12-18 Listed $89,900 BRIGHT MLS
• 2006-11-30 Listing Removed — BRIGHT MLS
• 2006-02-28 Listing Removed — BRIGHT MLS
• 2005-12-03 Listed $110,000 BRIGHT MLS
• 2005-12-03 Listed $99,000 BRIGHT MLS
• 1996-11-18 Sold (Public Records) $25,000 Public Records
• 1996-11-01 Sold (Public Records) $25,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,385 · +1.5% YoY. Source: county tax records.