315-317 E Broadway · Salem, NJ 08079

$200,000

8 bd · 4.0 ba · 5,645 sqft · MultiFamily · 2 Days on market

Built 1900 Poor condition 0.31 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Opportunity to own this 4 unit multi-family home with a total of 10 bedrooms and 5 baths in Salem! Being sold AS IS, WHERE IS, Buyer is responsible for all inspections, CO, & certifications. Schedule a tour today!

Key facts

• 0.31 acre lot
• Built 1900

Property features AI

Finance

• Financial info: Improvement assessed value recorded; Land assessed value recorded; Tax assessed value and annual tax recorded

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Fee simple ownership; Year built recorded by assessor
• Construction: Brick/mortar foundation
• Exterior features: Brick and stucco exterior; Detached structure; Above-grade and below-grade structures noted

Interior

• Bedrooms: Four 3-bedroom units
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/?-bath units multifamily listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $200k).
• Cap rate 31.4% vs local median 8.4% in Salem — 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 61/100 on livability (#462 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: schools D, amenities F, commute F.
• Salem City School District (town): math 6% / reading 24% proficiency, ranked #464 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 100 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $7,041/mo this rent would consume 155% of the median local household income ($55k/yr) (locally 663% 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 $623 of equity ($1k loan paydown + $-760 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $200,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 3.52% ✓
• Cap rate: 31.37%
• Cash-on-cash: 89.58%
• DSCR: 4.99
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 91.8%
• Equity multiple: 5.59×
• Total profit: $256,950
• Equity at exit: $54,301

10-year hold

• IRR: 93.3%
• Equity multiple: 11.52×
• Total profit: $589,307
• Equity at exit: $62,332

Cash invested: $56,000 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $7,041 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,479
• Net cashflow: $4,180

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	—	$7,040
Total (4 units)			$7,041

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $200,000 Active 2 DOM
2. 2026-06-17
   status $200,000 Active 1 DOM
3. 2026-06-16
   pricestatusdays on marketlisting id $200,000 Coming Soon 1 DOM
4. 2026-06-15
   days on market $215,000 Active 41 DOM
5. 2026-06-13
   days on market $215,000 Active 39 DOM
6. 2026-06-13
   days on market $215,000 Active 38 DOM
7. 2026-06-09
   days on market $215,000 Active 35 DOM
8. 2026-06-08
   days on market $215,000 Active 34 DOM
9. 2026-06-07
   days on market $215,000 Active 33 DOM
10. 2026-06-04
    pricedays on market $215,000 Active 30 DOM
11. 2026-06-03
    days on market $220,000 Active 29 DOM
12. 2026-06-02
    days on market $220,000 Active 28 DOM
13. 2026-06-01
    days on market $220,000 Active 27 DOM
14. 2026-05-31
    days on market $220,000 Active 26 DOM
15. 2026-05-05
    listed $225,000 Active
16. 2026-04-25
    historical
17. 2026-04-24
    listed $225,000 Active
18. 2025-02-26
    soldstatus $150,000 Closed 219-char remark

    Show marketing remark (219 chars)

    Opportunity to own this 4 unit multi-family home with a total of 10 bedrooms and 5 baths in Salem! Being sold AS IS, WHERE IS, Buyer is responsible for all inspections, CO, & certifications. Schedule a tour today!

19. 2025-01-28
    status Pending 219-char remark

    Show marketing remark (219 chars)

    Opportunity to own this 4 unit multi-family home with a total of 10 bedrooms and 5 baths in Salem! Being sold AS IS, WHERE IS, Buyer is responsible for all inspections, CO, & certifications. Schedule a tour today!

20. 2025-01-12
    historical Active Under Contract 219-char remark

    Show marketing remark (219 chars)

    Opportunity to own this 4 unit multi-family home with a total of 10 bedrooms and 5 baths in Salem! Being sold AS IS, WHERE IS, Buyer is responsible for all inspections, CO, & certifications. Schedule a tour today!

21. 2025-01-06
    listed $135,000 Active 219-char remark

    Show marketing remark (219 chars)

    Opportunity to own this 4 unit multi-family home with a total of 10 bedrooms and 5 baths in Salem! Being sold AS IS, WHERE IS, Buyer is responsible for all inspections, CO, & certifications. Schedule a tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $84,492
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$6,759
• − Management: −$6,759
• − Depreciation: −$5,818
• Taxable income: $49,952
• Est. tax owed @ 24.0%: −$11,988
• After-tax cash flow: $38,174/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This 4-unit multifamily property requires extensive repairs and renovations to become move-in ready. Immediate attention to the roof, exterior, and interior systems is essential to increase its value.

Repairs flagged

• Major kitchen plumbing — Exposed plumbing indicates a major issue that needs addressing
• Major bathroom plumbing — Exposed plumbing indicates a major issue that needs addressing
• Major roof — Missing shingles and visible damage
• Major exterior siding — Boarded-up windows and missing siding
• Major flooring — Exposed subflooring and missing tiles
• Major interior walls — Peeling paint and exposed drywall
• Major HVAC — Exposed ductwork and missing components

Value-add opportunities

• Both Landscaping and exterior repairs — Aesthetic improvements will attract buyers and renters alike
• Both Kitchen and bathroom renovations — Modernizing these spaces will increase both resale and rental value
• Both HVAC system replacement — A reliable HVAC system is crucial for both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen plumbing · Exposed plumbing indicates a major issue that needs addressing	Major	$15,000–50,000
bathroom plumbing · Exposed plumbing indicates a major issue that needs addressing	Major	$15,000–50,000
roof · Missing shingles and visible damage	Major	$15,000–50,000
exterior siding · Boarded-up windows and missing siding	Major	$15,000–50,000
flooring · Exposed subflooring and missing tiles	Major	$15,000–50,000
interior walls · Peeling paint and exposed drywall	Major	$15,000–50,000
HVAC · Exposed ductwork and missing components	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Landscaping and exterior repairs — Aesthetic improvements will attract buyers and renters alike ↑
• Both Kitchen and bathroom renovations — Modernizing these spaces will increase both resale and rental value ↑
• Both HVAC system replacement — A reliable HVAC system is crucial for both buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Salem City School District
• NCES district ID: 3414550
• Math proficiency: 6% ▼ -1.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $27,118
• Composite: 11.51/100
• National rank: #9702
• State rank: #464 of 472 in NJ

Livability — Salem

• Score: 61/100
• State rank: #462
• US rank: #17533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, NJ
• County: Salem County · 24,175 people
• City population: 10,762
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+66.7% since first listed

7 events — show timeline

• 2026-05-05 Listed $225,000 BRIGHT MLS
• 2026-04-25 Listing Removed — BRIGHT MLS
• 2026-04-24 Listed $225,000 BRIGHT MLS
• 2025-02-26 Sold (MLS) $150,000 BRIGHT MLS
• 2025-01-28 Pending — BRIGHT MLS
• 2025-01-12 Contingent — BRIGHT MLS
• 2025-01-06 Listed $135,000 BRIGHT MLS