35 Eakin St · Salem, NJ 08079

$39,900

3 bd · 1.0 ba · 1,649 sqft · SingleFamily public records · 17 Days on market

Built 1890 3,463 sqft lot

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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).

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

Listing remarks

This property is a 2 story home located in Salem City. This home is in need of a full rehab. Located close to Main Street and the downtown area with local shopping and amenities.

Key facts

• Close to main street
• 2 story home
• Full rehab

Tags

• 2 STORY HOME
• FULL REHAB
• CLOSE TO MAIN STREET
• DOWNTOWN AREA
• LOCAL SHOPPING
• AMENITIES

Property features AI

Finance

• Other: Ownership: Fee simple; Year built and finished area source: Assessor

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family structure; Above-grade finished living area recorded from assessor
• Construction: Frame construction; Brick/mortar foundation; Above and below grade structures
• Exterior features: Lot dimensions approximately 33 x 105; No tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Interior features: Interior access to basement; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 43.9% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $124 of equity ($276 loan paydown + $-152 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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

• Watch-outs: flood insurance adds $66/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $39,301 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.85% ✓
• Cap rate: 43.94%
• Cash-on-cash: 134.46%
• DSCR: 6.98
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $219,317
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
264 E Broadway	0.24mi	3/1.5	1,584 (-4%)	5mo	$150,000	$95	76
200 N Union St	0.37mi	3/2.0	1,686 (+2%)	2mo	$207,500	$123	73
178 Cook Ave	0.49mi	3/1.5	1,665 (+1%)	0mo	$255,000	$153	73
272 E Broadway	0.22mi	3/2.0	1,500 (-9%)	1mo	$65,000	$43	69
14 Hillcrest Ave	0.48mi	4/1.0 (+1)	1,649 (0%)	6mo	$196,000	$119	68
175 9th St	0.39mi	3/1.0	1,776 (+8%)	3mo	$195,000	$110	67
6 Walnut St	0.24mi	4/2.0 (+1)	1,764 (+7%)	2mo	$70,000	$40	67
352 Allen Ave	0.31mi	3/1.5	1,460 (-12%)	6mo	$225,000	$154	59
334 Craven Ave	0.33mi	4/1.5 (+1)	1,843 (+12%)	2mo	$245,000	$133	56
18 Market St	0.70mi	2/1.0 (-1)	1,546 (-6%)	2mo	$235,870	$153	50
179 Victory Ave	0.51mi	4/1.5 (+1)	1,449 (-12%)	0mo	$238,000	$164	49
363 Grant St	0.49mi	3/2.5	1,424 (-14%)	0mo	$250,000	$176	48

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.60×
• Total profit: $73,691
• Equity at exit: $10,833

10-year hold

• IRR: —
• Equity multiple: 15.87×
• Total profit: $166,115
• Equity at exit: $12,435

Cash invested: $11,172 (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: 1.7×

Monthly cashflow live

• Estimated rent: $1,934 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $1,185

Break-even live

Break-even rent $433

Max offer price $39,900

Occupancy floor 34%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	43d	1	0.22mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	1d	1	0.33mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	5d	1	0.43mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	2d	1	0.65mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	1d	1	0.66mi

Listing history 13 events

1. 2026-06-18
   days on market $39,900 Active 17 DOM
2. 2026-06-17
   days on market $39,900 Active 16 DOM
3. 2026-06-16
   days on market $39,900 Active 15 DOM
4. 2026-06-15
   days on market $39,900 Active 14 DOM
5. 2026-06-13
   days on market $39,900 Active 12 DOM
6. 2026-06-13
   days on market $39,900 Active 11 DOM
7. 2026-06-09
   days on market $39,900 Active 8 DOM
8. 2026-06-08
   days on market $39,900 Active 7 DOM
9. 2026-06-07
   days on market $39,900 Active 6 DOM
10. 2026-06-04
    days on market $39,900 Active 3 DOM
11. 2026-06-03
    days on market $39,900 Active 2 DOM
12. 2026-06-02
    remarks 178-char remark
13. 2026-06-02
    listed $39,900 Active 1 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 75% 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: $23,203
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$997
• − Repairs & maintenance: −$1,856
• − Management: −$1,856
• − Depreciation: −$1,161
• Taxable income: $14,500
• Est. tax owed @ 24.0%: −$3,480
• After-tax cash flow: $10,744/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: 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

+187.1% since first listed

3 events — show timeline

• 2026-06-01 Listed $39,900 BRIGHT MLS
• 2002-06-30 Listing Removed — BRIGHT MLS
• 2001-08-13 Listed $13,900 BRIGHT MLS

Property tax history

-1.2%/yr

Latest (2025): $2,140 · +4.9% YoY. Source: county tax records.