403 Klag · Trenton, NJ 08638

$219,900

3 bd · 1.0 ba · 1,296 sqft · Townhouse public records · 13 Days on market

Built 1877 1,651 sqft lot Est $245k · 10% under

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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 +22.8/30.0
• ARV discount +12.1/15.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

Key facts

• Open floor plan
• Fenced yard
• Remodeled bathroom

Tags

• OPEN FLOOR PLAN
• GOURMET KITCHEN
• STAINLESS APPLIANCE PACKAGE
• BACK COVERED PORCH
• FENCED YARD
• REMODELED BATHROOM

Property features AI

Finance

• Financial info: Assessor-reported above-grade finished area: 1,296 sq ft; Ownership interest: Fee Simple

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heating and hot water; Electric for dryer
• Home design: Semi-detached home; Shingle roof; Frame construction; Brick/mortar foundation; Fee simple ownership
• Construction: Frame construction; Shingle roof; Brick/mortar foundation; Above-grade and below-grade structures
• Exterior features: Lot approximately 16.5 x 100 ft; No tidal water

Interior

• Kitchen: Stove; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: Two bedrooms on the first upper level; One bedroom on the second upper level
• Flooring: Luxury vinyl plank; Carpet
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Window AC units; Ceiling fans
• Interior features: High walls and ceilings; Unfinished basement
• Laundry & utility: Washer; Electric dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $220k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 8.4% 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: 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.
• Zoned schools: Wilson Elementary School (math 2% / reading 12%, grade F, #1,280 of 1,303 statewide, top 99%, 361 students, 71% FRL); Luis Munoz-Rivera Ms (math 2% / reading 20%); Trenton Central High School - Main Campus (math 2% / reading 10%, grade F, #396 of 399 statewide, top 99%, 2,255 students, 56% FRL) — zoned schools average 64% FRL vs 80% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 83 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 44% of the median local income ($67k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 $135k; list at $220k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $219,900

Questions for the listing agent

1. Built in 1877 — 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: 1.11% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.47%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $244,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Klag	0.00mi	3/1.0	1,296 (0%)	1mo	$219,900	$170	99
50 Mechanics Ave	0.27mi	3/1.0	1,200 (-7%)	1mo	$117,500	$98	74
1109 Nottingham Way	0.49mi	3/1.0	1,198 (-8%)	2mo	$230,000	$192	63
752 Puritan Ave	0.58mi	3/1.5	1,260 (-3%)	5mo	$212,500	$169	62
1242 N Olden Ave	0.63mi	4/2.0 (+1)	1,290 (-0%)	6mo	$167,000	$129	56
712 Ohio Ave	0.48mi	3/2.0	1,386 (+7%)	9mo	$220,000	$159	55
1542 Princeton Ave	0.68mi	4/2.0 (+1)	1,330 (+3%)	5mo	$305,000	$229	51
3 Van Buren Pl	0.71mi	2/2.5 (-1)	1,260 (-3%)	2mo	$324,000	$257	49
754 Puritan Ave	0.59mi	3/1.0	1,120 (-14%)	5mo	$215,000	$192	46
1267 Nottingham Way	0.64mi	4/1.0 (+1)	1,102 (-15%)	3mo	$202,000	$183	38
124 Waverly Pl	0.74mi	3/1.5	1,112 (-14%)	8mo	$305,000	$274	33
201 Woodlawn Ave	0.75mi	3/2.0	1,456 (+12%)	9mo	$275,000	$189	33

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-10,402
• Equity at exit: $32,788

10-year hold

• IRR: 5.6%
• Equity multiple: 1.42×
• Total profit: $25,751
• Equity at exit: $19,013

Cash invested: $61,572 (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 08638

• Rents YoY: 3.3%
• Active inventory: 83
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,442 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$301 /mo · $3,616/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $383

Break-even live

Break-even rent $1,957

Max offer price $219,900

Occupancy floor 79%

Sensitivity live

Price	-10% $508	-5% $446	+0% $383	+5% $321	+10% $259
Rent	-10% $190	-5% $287	+0% $383	+5% $480	+10% $576
Rate	-1.0pp $494	-0.5pp $439	base $383	+0.5pp $326	+1.0pp $268

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	22d	1	0.03mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	15d	1	0.36mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	15d	1	0.58mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	15d	1	0.59mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	15d	1	0.60mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	22d	1	0.62mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	0.80mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	15d	1	0.80mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	15d	1	0.81mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	22d	1	0.82mi
756 Cherry Tree Ln Lawrence Township, NJ	2.0	1.0	1207	$2,200	$1.82	15d	1	0.87mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	22d	1	0.87mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	15d	1	0.93mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	0.93mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	22d	1	0.98mi
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	22d	1	1.04mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	15d	1	1.06mi
550 Lawrenceville Rd Lawrence Township, NJ	1.0–2.0	1.0	910	$1,655	$1.82	22d	1	1.06mi
2140 Princeton Pike Lawrenceville, NJ	2.0	1.0	952	$2,700	$2.84	22d	1	1.08mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	22d	1	1.13mi
239 Ardmore Ave Trenton, NJ	4.0	2.0	1665	$2,750	$1.65	22d	1	1.14mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	22d	1	1.16mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	22d	1	1.30mi
34 Southard St #2 Trenton, NJ	2.0	2.0	1808	$2,150	$1.19	22d	1	1.32mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	22d	1	1.35mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	15d	1	1.36mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	15d	1	1.41mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	22d	1	1.48mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	22d	1	1.48mi

Listing history 15 events

1. 2026-04-29
   status Pending
2. 2026-04-16
   listed $219,900 Active
3. 2025-12-24
   soldstatus $135,000
4. 2025-12-24
   soldstatus $135,000
5. 2022-12-07
   soldstatus $165,777
6. 2022-11-30
   status Pending 839-char remark

   Show marketing remark (839 chars)

   Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

7. 2022-11-29
   soldstatus $165,777 Closed 839-char remark

   Show marketing remark (839 chars)

   Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

8. 2022-11-06
   historical Active Under Contract 839-char remark

   Show marketing remark (839 chars)

   Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

9. 2022-10-28
   status Active 839-char remark

   Show marketing remark (839 chars)

   Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

10. 2022-10-27
    historical 839-char remark

    Show marketing remark (839 chars)

    Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

11. 2022-10-27
    listed $165,777 Active 839-char remark

    Show marketing remark (839 chars)

    Totally remodeled and just waiting for your buyer!! From you pull up to this home you will be blown away by the exterior renovation which includes, new vinyl siding, new windows, new front step and covered back porch. Enter the front door and enjoy the open floor plan featuring formal living and dining rooms. New laminate floors, ceiling fan and freshly painted. The dining room leads into the large gourmet kitchen featuring full stainless appliance package including microwave, stove and refrigerator. The back covered porch is great for those lazy summer days and cool nights. The fenced yard is great for family gatherings. Head upstairs to fully carpeted 2 bedrooms, remodeled bathroom and separate laundry room. The fully finished attic is great for a 3rd bedroom or play area. Bring your fussiest buyer this one won't last long!!

12. 2008-06-06
    historical
13. 2007-12-06
    listed $60,000
14. 2006-06-30
    historical
15. 2006-03-08
    listed $59,000

ⓘ 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: $3,616 · $301/mo
• Projected year-2 tax: $4,546 · $379/mo
• Expected delta: +$930/yr (+$77/mo · 25.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°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: $29,309
• − Mortgage interest: −$12,318
• − Property taxes: −$3,616
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,345
• − Management: −$2,345
• − Depreciation: −$6,397
• Taxable income: $1,189
• Est. tax owed @ 24.0%: −$285
• After-tax cash flow: $4,315/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): 22,816
• Household income: $66,875
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1185.0

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 0.68)
• Race & ethnicity: Black 43% White 31% Hispanic / Latino 21% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 2% Iranian 1%
• Foreign-born: 24% · Canada, Guatemala, China
• Languages at home: 76% English-only · Spanish 17% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -286.00%
• Current HPI: 334.5143
• Rent YoY: ▲ 3.31%
• 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

+272.7% since first listed

15 events — show timeline

• 2026-04-29 Pending — BRIGHT MLS
• 2026-04-16 Listed $219,900 BRIGHT MLS
• 2025-12-24 Sold (Public Records) $135,000 Public Records
• 2025-12-24 Sold (Public Records) $135,000 Public Records
• 2022-12-07 Sold (Public Records) $165,777 Public Records
• 2022-11-30 Pending — BRIGHT MLS
• 2022-11-29 Sold (MLS) $165,777 BRIGHT MLS
• 2022-11-06 Contingent — BRIGHT MLS
• 2022-10-28 Relisted — BRIGHT MLS
• 2022-10-27 Listed $165,777 BRIGHT MLS
• 2022-10-27 Listing Removed — BRIGHT MLS
• 2008-06-06 Listing Removed — BRIGHT MLS
• 2007-12-06 Listed $60,000 BRIGHT MLS
• 2006-06-30 Listing Removed — BRIGHT MLS
• 2006-03-08 Listed $59,000 BRIGHT MLS

Property tax history

+5.8%/yr

Latest (2025): $3,616 · +1.5% YoY. Source: county tax records.