194 Washington St · Rocky Hill, NJ 08553-1020

$599,999

4 bd · 2.0 ba · 1,792 sqft · SingleFamily public records · 51 Days on market

Built 1900 5,662 sqft lot Est $610k · at est.

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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 +8.2/15.0
• Schools +6.5/10.0
• Cash flow +5.6/30.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

Key facts

• Recent updates
• Private driveway
• Recessed lighting

Tags

• SPACIOUS UNITS
• RECENT UPDATES
• LAMINATE PLANK FLOORING
• RECESSED LIGHTING
• AMPLE OFF-STREET PARKING
• PRIVATE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $600k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (49.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $373k (37.8% below list).
• Recommended offer: $304k (49.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#127 in NJ, #3,410 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: schools D+, amenities F, cost of living F.
• Montgomery Township School District (rural): math 59% / reading 71% proficiency, ranked #15 of 472 in NJ (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 3% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 678 units permitted in Somerset County in 2024 (296 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• Somerset County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($582k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask is 33% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $460k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $304,008 (49.3% 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 51 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.62% ✗
• Cap rate: 3.79%
• Cash-on-cash: -8.92%
• DSCR: 0.60
• GRM: 13.4

CMA / ARV

• ARV (median comp): $609,925
• List price: $599,999
• Delta: -1.63%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Crescent Ave	0.30mi	4/2.0	1,700 (-5%)	6mo	$715,000	$421	72
142 Washington St	0.17mi	3/2.0 (-1)	1,677 (-6%)	11mo	$560,550	$334	67
74 Crescent Ave	0.17mi	3/2.0 (-1)	1,678 (-6%)	15mo	$675,000	$402	64

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.80×
• Total profit: $-34,088
• Equity at exit: $269,786

10-year hold

• IRR: 1.1%
• Equity multiple: 1.17×
• Total profit: $28,780
• Equity at exit: $415,772

Cash invested: $168,000 (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 08553-1020

• Active inventory: 1
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,730 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$800 /mo · $9,595/yr
• Insurance: −$250
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$783
• Net cashflow: $-1,676

Break-even live

Break-even rent $5,851

Max offer price $304,008

Occupancy floor —

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17A Andover Cir Unit 17A Princeton, NJ	3.0	2.5	1612	$3,800	$2.36	43d	1	0.74mi
168 Windham Ct Princeton, NJ	3.0	2.5	1987	$3,800	$1.91	43d	1	0.77mi
40 Roxbury Ct Princeton, NJ	3.0	2.5	1612	$3,700	$2.30	43d	1	0.81mi
31 Chicopee Dr Princeton, NJ	3.0	2.5	1569	$3,600	$2.29	13d	1	0.86mi

Listing history 31 events

1. 2026-06-14
   days on market $599,999 Active 51 DOM
2. 2026-06-10
   days on market $599,999 Active 48 DOM
3. 2026-06-09
   days on market $599,999 Active 47 DOM
4. 2026-06-08
   days on market $599,999 Active 46 DOM
5. 2026-06-07
   days on market $599,999 Active 45 DOM
6. 2026-06-03
   days on market $599,999 Active 41 DOM
7. 2026-06-02
   days on market $599,999 Active 40 DOM
8. 2026-06-01
   days on market $599,999 Active 39 DOM
9. 2026-05-31
   days on market $599,999 Active 38 DOM
10. 2026-05-30
    days on market $599,999 Active 37 DOM
11. 2026-04-23
    listed $599,999 Active 820-char remark
12. 2023-03-13
    soldstatus $459,900
13. 2023-02-22
    soldstatus $459,900 Sold

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

14. 2023-02-22
    soldstatus $459,900 Closed

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

15. 2023-01-10
    status Under Contract
16. 2023-01-09
    status Pending

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

17. 2022-12-01
    listed $449,900 Active
18. 2022-11-17
    status Active

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

19. 2022-11-16
    historical

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

20. 2022-08-09
    price $449,900

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

21. 2022-06-08
    price $459,900

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

22. 2022-05-04
    price $479,900

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

23. 2022-02-17
    listed $499,900 Active

    Show marketing remark (663 chars)

    Affordable Living in the Village of Rocky Hill!!Desirable Duplex in Historic Rocky Hill-One side has been Fully Restored and is vacant-Unit 194A is occupied and not restored-This tenant has no lease--Current rent $1600/mo- good cash flow-Tenant pays all utilities--Oil bill-water and sewer bill is shared by both tenants Walkout basement -Bucolic view of the canal-Walk out your door to kayaking/fishing/walk/bike the canal Plus coffee or a glass of wine a block away!!!!!!! Close to Princeton---Top Rated Montgomery School system--Solid investment -Have your tenant pay your monthly mortgage-Live Reasonably and Build Equity!!! Perfect Plan during a Recession---

24. 2010-08-23
    soldstatus $230,000
25. 2008-09-17
    historical
26. 2007-11-29
    listed $359,900
27. 2006-06-22
    historical
28. 2006-06-22
    historical
29. 2005-09-15
    listed $425,000
30. 2005-09-15
    listed $425,000
31. 1997-08-29
    soldstatus $129,000

ⓘ 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: $9,595 · $800/mo
• Projected year-2 tax: $12,268 · $1,022/mo
• Expected delta: +$2,672/yr (+$223/mo · 27.8%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,766
• − Mortgage interest: −$33,609
• − Property taxes: −$9,595
• − Insurance: −$8,118
• − Repairs & maintenance: −$3,581
• − Management: −$3,581
• − Depreciation: −$17,455
• Taxable loss: −$31,174
• Est. tax savings @ 24.0%: +$7,482
• After-tax cash flow: $-12,625/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: Montgomery Township School District
• NCES district ID: 3410590
• Math proficiency: 59% ▼ -17.00%
• Reading proficiency: 71% ▼ -7.00%
• Median HH income: $152,313
• Composite: 64.96/100
• National rank: #506
• State rank: #15 of 472 in NJ

Livability — Rocky Hill

• Score: 76/100
• State rank: #127
• US rank: #3410

Category grades

Amenities F Commute C 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: Rocky Hill, NJ

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 356,675 people
• By 2030: 367,194 · +2.9%
• By 2040: 386,571 · +8.4%
• By 2050: 401,708 · +12.6%
• By 2075: 438,898 · +23.1%
• By 2100: 448,170 · +25.7%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

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

+256.5% since first listed

20 events — show timeline

• 2023-03-13 Sold (Public Records) $459,900 Public Records
• 2023-02-22 Sold (MLS) $459,900 GSMLS
• 2023-02-22 Sold (MLS) $459,900 BRIGHT MLS
• 2023-01-10 Pending — GSMLS
• 2023-01-09 Pending — BRIGHT MLS
• 2022-12-01 Listed $449,900 GSMLS
• 2022-11-17 Relisted — BRIGHT MLS
• 2022-11-16 Listing Removed — BRIGHT MLS
• 2022-08-09 Price Changed $449,900 BRIGHT MLS
• 2022-06-08 Price Changed $459,900 BRIGHT MLS
• 2022-05-04 Price Changed $479,900 BRIGHT MLS
• 2022-02-17 Listed $499,900 BRIGHT MLS
• 2010-08-23 Sold (Public Records) $230,000 Public Records
• 2008-09-17 Listing Removed — BRIGHT MLS
• 2007-11-29 Listed $359,900 BRIGHT MLS
• 2006-06-22 Listing Removed — BRIGHT MLS
• 2006-06-22 Listing Removed — BRIGHT MLS
• 2005-09-15 Listed $425,000 BRIGHT MLS
• 2005-09-15 Listed $425,000 BRIGHT MLS
• 1997-08-29 Sold (Public Records) $129,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $9,595 · +4.8% YoY. Source: county tax records.