18 GRAHAM St · Jersey City, NJ 07307

$1,250,000

48 bd · 24.0 ba · — sqft · MultiFamily · 64 Days on market

Built 1900

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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
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

AN EXCEPTIONAL 6 FAMILY ALL 2 BEDROOMS 1 BATHROOMS. INVESTMENT OPPORTUNITY IN A PRIME LOCATION WITHIN THE HEIGHTS. THIS WELL-MAINTAINED PROPERTY FEATURES UNITS THAT HAVE BEEN THOUGHTFULLY RENOVATED IN RECENT YEARS, SHOWCASING MODERN FINISHES SUCH AS GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, UPDATED BATHROOMS, AND NEW FLOORING THROUGHOUT. THE PROPERTY ALSO BENEFITS FROM UPDATED MAJOR SYSTEMS, INCLUDING NEWER HOT WATER HEATERS AND A FURNACE, HELPING TO MINIMIZE MAINTENANCE COSTS AND ENSURE LONG-TERM RELIABILITY. IDEALLY SITUATED JUST A FEW BLOCKS FROM THE ELEVATOR TO THE HOBOKEN LIGHT RAIL AND ONLY HALF A BLOCK FROM A DIRECT BUS TO NYC, THIS LOCATION OFFERS OUTSTANDING CONVENIENCE FOR

Key facts

• New flooring
• Modern finishes
• Updated bathrooms

Tags

• THOUGHTFULLY RENOVATED
• MODERN FINISHES
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOMS
• NEW FLOORING

Property features AI

Exterior

• Parking: No parking available
• Home design: Six-family building with all units configured as 2-bedroom, 1-bath; Multiple stories (four finished residential floors)
• Construction: Lead paint disclosure present
• Exterior features: Aluminum/Vinyl and brick exterior; Lot number 36

Interior

• Kitchen: One kitchen per floor (four kitchens total)
• Bedrooms: Two bedrooms on Floor 1; Two bedrooms on Floor 2; Two bedrooms on Floor 3; Two bedrooms on Floor 4
• Bathrooms: Four full bathrooms (one on each floor)
• Interior features: Full basement with partial finish and walk-out access; Window A/C units; Baseboard heating; Gas heating; Hot water heating

What this means for you Summary

Snapshot

• This is a 6 × 8-bed/?-bath units multifamily listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $12k ($141k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($26k rent vs $1.25M).
• Recommended offer: $1.18M (6.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 1.8% in Jersey City — 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 77/100 on livability (#116 in NJ, #2,955 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Jersey City Public Schools (urban): math 16% / reading 38% proficiency, ranked #369 of 472 in NJ (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 287 active listings in the ZIP; solid renter incomes; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $26,080/mo this rent would consume 376% of the median local household income ($83k/yr) (locally 2550% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $38k of value loss. Plan a longer hold.
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $350k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $319k; list at $1.25M implies a 291% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,175,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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?
9. 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.
10. 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.
11. 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: 2.09% ✓
• Cap rate: 17.57%
• Cash-on-cash: 40.27%
• DSCR: 2.79
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.04% rent growth · sell at horizon

5-year hold

• IRR: 36.7%
• Equity multiple: 2.56×
• Total profit: $547,110
• Equity at exit: $186,379

10-year hold

• IRR: 43.4%
• Equity multiple: 5.13×
• Total profit: $1,446,151
• Equity at exit: $108,077

Cash invested: $350,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 6 Strongly Tenant-Friendly
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City Jersey City: 6 Strongly Tenant-Friendly · D+34

Rent Control Ordinance covers buildings 4+ units pre-1986.

Methodology + full state rankings →

ZIP-level market 07307

• Rents YoY: 3.0%
• Active inventory: 287
• Price-to-rent: 24.0×

Monthly cashflow live

• Estimated rent: $26,080 medium
• Mortgage (P&I): −$6,555
• Tax from tax record: −$1,782 /mo · $21,379/yr
• Insurance: −$521
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,477
• Net cashflow: $11,746

Break-even live

Break-even rent $11,212

Max offer price $1,250,000

Occupancy floor 50%

Sensitivity live

Price	-10% $12,453	-5% $12,099	+0% $11,746	+5% $11,392	+10% $11,038
Rent	-10% $9,685	-5% $10,715	+0% $11,746	+5% $12,776	+10% $13,806
Rate	-1.0pp $12,375	-0.5pp $12,064	base $11,746	+0.5pp $11,422	+1.0pp $11,092

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

Units	Beds	Baths	Est. rent
▸ 6× units	8	—	$26,082
Total (6 units)			$26,080

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $1,250,000 Active 64 DOM
2. 2026-06-17
   days on market $1,250,000 Active 63 DOM
3. 2026-06-16
   days on market $1,250,000 Active 62 DOM
4. 2026-06-15
   days on market $1,250,000 Active 61 DOM
5. 2026-06-13
   days on market $1,250,000 Active 59 DOM
6. 2026-06-13
   days on market $1,250,000 Active 58 DOM
7. 2026-06-09
   days on market $1,250,000 Active 55 DOM
8. 2026-06-08
   days on market $1,250,000 Active 54 DOM
9. 2026-06-07
   days on market $1,250,000 Active 53 DOM
10. 2026-06-04
    days on market $1,250,000 Active 50 DOM
11. 2026-06-03
    days on market $1,250,000 Active 49 DOM
12. 2026-06-02
    days on market $1,250,000 Active 48 DOM
13. 2026-06-01
    days on market $1,250,000 Active 47 DOM
14. 2026-05-31
    days on market $1,250,000 Active 46 DOM
15. 2026-04-15
    listed $1,250,000 Active
16. 2025-01-06
    historical
17. 2024-08-01
    listed $1,450,000 Active
18. 2006-02-21
    soldstatus $319,300
19. 1979-07-01
    soldstatus $39,500

ⓘ 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: $21,379 · $1,782/mo
• Projected year-2 tax: $26,252 · $2,188/mo
• Expected delta: +$4,873/yr (+$406/mo · 22.8%)

ⓘ 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 ≥98°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: $312,960
• − Mortgage interest: −$70,019
• − Property taxes: −$21,379
• − Insurance: −$6,250
• − Repairs & maintenance: −$25,037
• − Management: −$25,037
• − Depreciation: −$36,364
• Taxable income: $128,874
• Est. tax owed @ 24.0%: −$30,930
• After-tax cash flow: $110,018/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: Jersey City Public Schools
• NCES district ID: 3407830
• Math proficiency: 16% ▼ -17.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $58,431
• Composite: 24.43/100
• National rank: #7678
• State rank: #369 of 472 in NJ

Livability — Jersey City

• Score: 77/100
• State rank: #116
• US rank: #2955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jersey City, NJ
• County: Hudson County · 718,323 people
• City population: 294,078
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 42,645
• Household income: $83,297
• Rent vs Own: 64.4% rent · 35.6% own
• Severe rent burden: 2550.0

Population outlook (Hudson County) Hauer SSP2

• Today (2025): 771,834 people
• By 2030: 818,028 · +6.0%
• By 2040: 907,866 · +17.6%
• By 2050: 994,480 · +28.8%
• By 2075: 1,163,301 · +50.7%
• By 2100: 1,254,703 · +62.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 42% White 27% Asian 24% Two or more races 18% Black 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 2% Dominican 9% Salvadoran 1%
• Common ancestry: Romanian 2% Scotch-Irish 1%
• Foreign-born: 43% · Canada, Jamaica, China
• Languages at home: 41% English-only · Spanish 32% Other Indo-European 16% Other Asian/Pacific 4%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -271.12%
• Current HPI: 471.33
• Rent YoY: ▲ 3.04%
• 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

+3064.6% since first listed

5 events — show timeline

• 2026-04-15 Listed $1,250,000 HCMLS
• 2025-01-06 Listing Removed — HCMLS
• 2024-08-01 Listed $1,450,000 HCMLS
• 2006-02-21 Sold (Public Records) $319,300 Public Records
• 1979-07-01 Sold (Public Records) $39,500 Public Records

Property tax history

+8.6%/yr

Latest (2025): $21,379 · +4.6% YoY. Source: county tax records.