401 Undercliff Ave · Edgewater, NJ 07020

$2,099,000

None bd · None ba · — sqft · MultiFamily · 135 Days on market

↓ 9% since listing

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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 +14.5/30.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Five family, excellent condition, eat in kitchens, new appliances and flooring. .. laundry room. .. Great location on Undercliff Avenue. .. includes 5 off street parking spaces. .. plus 4 garages. .. back yard. .. minutes to ferry Bridge and all transportation.

Key facts

• Updated exterior
• Eat in kitchen
• Heart of edgewater

Tags

• HEART OF EDGEWATER
• WALKING DISTANCE TO WHOLEFOODS
• UPDATED APARTMENTS
• UPDATED EXTERIOR
• HARDWOOD FLOORS
• EAT IN KITCHEN

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/?-bath units multifamily listed at $2.10M.

Deal economics

• At list price, monthly cash flow is $458 ($6k/yr) — positive. Per door: $92/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.80M (14.3% below list).
• Recommended offer: $1.80M (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 1.6% in Edgewater — 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 80/100 on livability (#74 in NJ, #1,774 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: cost of living F.
• Edgewater School District (suburban): math 51% / reading 58% proficiency, ranked #276 of 612 in NJ (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.0%/yr); 90 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• At $17,996/mo this rent would consume 174% of the median local household income ($124k/yr) (locally 1039% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $164k of equity ($15k loan paydown + $150k appreciation (7.1% local appreciation)).
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.1% appreciation + 4.0% rent growth), your $588k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$262k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($1.85M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• 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 $1,799,600 (14.3% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
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 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: 0.86% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Undercliff Ave	0.01mi	5/3.0	—	6mo	$999,000	—	82
46 GARDEN Pl	0.21mi	6/3.0	—	4mo	$1,200,000	—	75
65 Knox Ave	0.26mi	4/4.0	—	2mo	$1,395,000	—	74
251 Grant Ave	0.42mi	4/2.0	—	1mo	$685,000	—	67
32 Hudson Ter	0.34mi	6/3.0	—	8mo	$1,380,000	—	65
266 Wayne Ave	0.47mi	3/3.5	—	7mo	$1,150,000	—	60
16 Oakdene Ave	0.54mi	4/3.5	—	9mo	$930,000	—	55
768 Florence Pl	0.67mi	5/3.0	—	6mo	$989,000	—	51
582A Undercliff Ave	0.62mi	5/5.5	—	10mo	$3,100,000	—	50
582B Undercliff Ave	0.62mi	4/5.5	—	11mo	$2,850,000	—	50
376-378 Columbia Ave	0.66mi	8/4.0	—	9mo	$1,111,000	—	49
400 Nelson Ave	0.72mi	3/3.0	—	9mo	$950,000	—	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.12% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 2.36×
• Total profit: $796,507
• Equity at exit: $1,471,442

10-year hold

• IRR: 18.5%
• Equity multiple: 4.97×
• Total profit: $2,331,614
• Equity at exit: $2,810,509

Cash invested: $587,720 (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 07020

• Home prices YoY: 2.5%
• Rents YoY: 4.0%
• Active inventory: 90
• Price-to-rent: 48.6×

Monthly cashflow live

• Estimated rent: $17,996 high
• Mortgage (P&I): −$11,007
• Tax from tax record: −$1,876 /mo · $22,517/yr
• Insurance: −$875
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,779
• Net cashflow: $458

Break-even live

Break-even rent $17,416

Max offer price $2,099,000

Occupancy floor 92%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	—	$17,995
Total (5 units)			$17,996

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: $524,750
• Closing costs: $62,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Columbia Ter Edgewater, NJ	1.0	1.0	500	$1,650	$3.30	15d	1	0.08mi
10 Hilliard Ave Unit 5 Edgewater, NJ	2.0	1.0	—	$2,200	—	24d	1	0.10mi
10 Hilliard Ave Unit 4 Edgewater, NJ	3.0	1.0	—	$2,550	—	24d	1	0.10mi
100 Carlyle Dr Unit 16ES Cliffside Park, NJ	2.0	2.5	—	$4,850	—	24d	1	0.10mi
144 Panorama Dr Edgewater, NJ	2.0	2.5	—	$4,500	—	24d	1	0.15mi
100 Carlyle Dr Unit 17B-N Cliffside Park, NJ	1.0	1.5	—	$3,300	—	24d	1	0.15mi
100 Carlyle Dr Unit 11J-N Cliffside Park, NJ	2.0	2.5	—	$4,750	—	24d	1	0.15mi
119 Panorama Dr #119 Edgewater, NJ	3.0	2.5	—	$6,000	—	19d	1	0.15mi
35A Edgewater Pl Edgewater, NJ	3.0	2.0	—	$3,500	—	24d	1	0.16mi
905 River Rd Unit 327 Edgewater, NJ	1.0	1.0	—	$2,700	—	24d	1	0.17mi
200 Winston Dr Unit 1006 Cliffside Park, NJ	1.0	1.0	—	$3,150	—	2d	1	0.18mi
200 Winston Dr Unit 3018 Cliffside Park, NJ	2.0	2.0	—	$3,700	—	24d	1	0.18mi
200 Winston Dr #2907 Cliffside Park, NJ	2.0	2.0	—	$4,000	—	24d	1	0.18mi
200 Winston Dr #3011 Cliffside Park, NJ	1.0	1.0	—	$2,850	—	22d	1	0.18mi
46 Hudson Ave Unit B Edgewater, NJ	3.0	2.0	—	$4,000	—	20d	1	0.18mi
46 Hudson Ave Unit C Edgewater, NJ	2.0	1.0	—	$3,000	—	20d	1	0.18mi
100 Tower Dr Edgewater, NJ	1.0–3.0	1.0–2.5	1290	$5,617	$4.35	1d	9	0.20mi
30 Lafayette Ave Cliffside Park, NJ	3.0	3.5	—	$8,100	—	4d	1	0.20mi
300 Winston Dr Unit L5 Cliffside Park, NJ	3.0	2.0	—	$4,300	—	24d	1	0.22mi
11 Beverly Pl Edgewater, NJ	2.0	1.0	—	$3,000	—	24d	1	0.22mi
300 Winston Dr #2118 Cliffside Park, NJ	2.0	2.0	—	$3,600	—	24d	1	0.23mi
30 Knox Ave Cliffside Park, NJ	3.0	1.5	—	$4,000	—	24d	1	0.24mi
300 Winston Dr Unit 1020 Cliffside Park, NJ	2.0	1.5	—	$3,000	—	2d	1	0.24mi
300 Winston Dr Unit 318 Cliffside Park, NJ	2.0	2.0	—	$3,400	—	24d	1	0.24mi
300 Winston Dr Unit 2112 Cliffside Park, NJ	2.0	2.0	—	$3,350	—	24d	1	0.24mi
46 Garden Pl Unit 2 Edgewater, NJ	3.0	1.0	—	$3,800	—	17d	1	0.24mi
68 Lafayette Ave Cliffside Park, NJ	2.0	1.0	—	$2,500	—	24d	1	0.25mi
28 Garden Pl #163 Edgewater, NJ	2.0	2.0	—	$3,500	—	10d	1	0.26mi
100 Grand Cove Way Unit 5A Edgewater, NJ	2.0	2.0	—	$3,950	—	12d	1	0.27mi
21 Valley Pl Unit 3 Edgewater, NJ	1.0	1.0	—	$2,200	—	22d	1	0.28mi
23 Valley Pl Edgewater, NJ	3.0	1.0	—	$3,700	—	24d	1	0.28mi
400 Crown Ct #561 Edgewater, NJ	2.0	2.0	—	$3,275	—	13d	1	0.29mi
1055 River Rd Edgewater, NJ	1.0	1.5	—	$2,775	—	6d	2	0.30mi
300 Crown Ct #523 Edgewater, NJ	2.0	2.0	—	$3,200	—	20d	1	0.30mi
825 Palisade Ave Unit C2 Fort Lee, NJ	2.0	2.0	—	$2,800	—	24d	1	0.31mi
30 Hudson Ter Unit C Edgewater, NJ	1.0	1.0	—	$2,000	—	24d	1	0.31mi
32 Hudson Ter Unit 2 Edgewater, NJ	3.0	2.0	—	$3,800	—	6d	1	0.31mi
32 Hudson Ter Unit 2 Edgewater, NJ	3.0	2.0	—	$3,850	—	24d	1	0.31mi
20 Lawton Ave Cliffside Park, NJ	1.0	1.0	—	$1,750	—	24d	1	0.32mi
553 Undercliff Ave #5 Edgewater, NJ	1.0	1.0	—	$2,295	—	24d	1	0.33mi

Listing history 21 events

1. 2026-06-18
   days on market $2,099,000 Active 135 DOM
2. 2026-06-17
   days on market $2,099,000 Active 134 DOM
3. 2026-06-16
   days on market $2,099,000 Active 133 DOM
4. 2026-06-15
   days on market $2,099,000 Active 132 DOM
5. 2026-06-13
   days on market $2,099,000 Active 130 DOM
6. 2026-06-13
   days on market $2,099,000 Active 129 DOM
7. 2026-06-09
   days on market $2,099,000 Active 126 DOM
8. 2026-06-08
   days on market $2,099,000 Active 125 DOM
9. 2026-06-07
   days on market $2,099,000 Active 124 DOM
10. 2026-06-04
    days on market $2,099,000 Active 121 DOM
11. 2026-06-03
    days on market $2,099,000 Active 120 DOM
12. 2026-06-02
    days on market $2,099,000 Active 119 DOM
13. 2026-06-01
    days on market $2,099,000 Active 118 DOM
14. 2026-05-31
    days on market $2,099,000 Active 117 DOM
15. 2026-03-24
    price $2,099,000
16. 2026-02-03
    listed $2,195,000 Active
17. 2024-08-20
    soldstatus $1,950,000 Sold 261-char remark

    Show marketing remark (261 chars)

    Five family, excellent condition, eat in kitchens, new appliances and flooring. .. laundry room. .. Great location on Undercliff Avenue. .. includes 5 off street parking spaces. .. plus 4 garages. .. back yard. .. minutes to ferry Bridge and all transportation.

18. 2024-07-08
    historical Under Contract - Attorney Review 261-char remark

    Show marketing remark (261 chars)

    Five family, excellent condition, eat in kitchens, new appliances and flooring. .. laundry room. .. Great location on Undercliff Avenue. .. includes 5 off street parking spaces. .. plus 4 garages. .. back yard. .. minutes to ferry Bridge and all transportation.

19. 2024-01-25
    historical

    Show marketing remark (261 chars)

    Five family, excellent condition, eat in kitchens, new appliances and flooring. .. laundry room. .. Great location on Undercliff Avenue. .. includes 5 off street parking spaces. .. plus 4 garages. .. back yard. .. minutes to ferry Bridge and all transportation.

20. 2024-01-25
    listed $2,300,000 Active 261-char remark

    Show marketing remark (261 chars)

    Five family, excellent condition, eat in kitchens, new appliances and flooring. .. laundry room. .. Great location on Undercliff Avenue. .. includes 5 off street parking spaces. .. plus 4 garages. .. back yard. .. minutes to ferry Bridge and all transportation.

21. 2024-01-24
    listed $2,300,000 Active

ⓘ 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: $22,517 · $1,876/mo
• Projected year-2 tax: $37,391 · $3,116/mo
• Expected delta: +$14,874/yr (+$1,240/mo · 66.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $215,952
• − Mortgage interest: −$117,577
• − Property taxes: −$22,517
• − Insurance: −$10,495
• − Repairs & maintenance: −$17,276
• − Management: −$17,276
• − Depreciation: −$61,062
• Taxable loss: −$30,251
• Est. tax savings @ 24.0%: +$7,260
• After-tax cash flow: $12,762/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: Edgewater School District
• NCES district ID: 3404440
• Math proficiency: 51% ▲ 2.00%
• Reading proficiency: 58% ▼ -3.00%
• Median HH income: $95,596
• Composite: 52.69/100
• National rank: #3328
• State rank: #276 of 612 in NJ

Livability — Edgewater

• Score: 80/100
• State rank: #74
• US rank: #1774

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewater, NJ
• County: Bergen County · 586,961 people
• City population: 14,759
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 14,759
• Household income: $124,050
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 1039.0

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 0.66)
• Race & ethnicity: Asian 42% White 38% Hispanic / Latino 12% Two or more races 10% Black 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 2% Dominican 1%
• Common ancestry: Scotch-Irish 3% Romanian 2% Lithuanian 2%
• Foreign-born: 53% · South Korea, China, Canada
• Languages at home: 43% English-only · Korean 15% 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: ▲ 7.12%
• Current HPI: 296.478
• Rent YoY: ▲ 4.02%
• 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

-8.7% since first listed

7 events — show timeline

• 2026-03-24 Price Changed $2,099,000 NJMLS
• 2026-02-03 Listed $2,195,000 NJMLS
• 2024-08-20 Sold (MLS) $1,950,000 NJMLS
• 2024-07-08 Contingent — NJMLS
• 2024-01-25 Delisted — NJMLS
• 2024-01-25 Listed $2,300,000 NJMLS
• 2024-01-24 Listed $2,300,000 NJMLS

Property tax history

+6.4%/yr

Latest (2025): $22,517 · +33.0% YoY. Source: county tax records.