429 Fairmount Ave #304 · Jersey City, NJ 07306-5911

$235,000

1 bd · 1.0 ba · 488 sqft · Condo public records · 46 Days on market

Built 1925 $388/mo HOA · 14% of rent

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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 +17.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +5.6/10.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Welcome to this beautifully maintained 1-bedroom, 1-bath home at Fairmount Court, ideally situated in the vibrant Journal Square section of Jersey City. This bright and inviting residence offers a comfortable living area, functional kitchen with ample cabinetry, and a spacious bedroom retreat.Perfect for commuters, you're just minutes from the Journal Square Transportation Center, plus easy access to buses, restaurants, caf s, and shopping. Whether you're a first-time buyer or savvy investor, this is an exceptional opportunity to own in one of Jersey City's most convenient and growing neighborhoods.Move right in and enjoy city living at its best!

Key facts

• $388 HOA
• Built 1925
• Listed 46 days

Property features AI

Finance

• Other: Tenant belongings excluded
• HOA & community: Monthly maintenance fee of $380; Maintenance covers gas; Managed by Matrix Group (contact available)

Exterior

• Parking: No parking
• Utilities: Gas included in maintenance
• Home design: Condominium in Fairmount Court
• Construction: Brick construction
• Exterior features: Brick exterior; Near shopping, bus, parks, schools, and PATH

Interior

• Kitchen: One kitchen (includes refrigerator and gas oven/range)
• Bedrooms: One bedroom on level 1
• Flooring: Hardwood floors
• Bathrooms: One full bathroom
• Heating & cooling: Gas heat; Radiator heating; Window A/C
• Interior features: Intercom; Hardwood floors; Refrigerator; Gas oven/range
• Laundry & utility: Building washer/dryer room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $228k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: 1 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• 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 $66k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y 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 $102k; list at $235k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $227,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.18% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.52%
• DSCR: 1.16
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.9%
• Equity multiple: 1.62×
• Total profit: $40,881
• Equity at exit: $105,666

10-year hold

• IRR: 13.1%
• Equity multiple: 2.96×
• Total profit: $128,708
• Equity at exit: $162,844

Cash invested: $65,800 (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 07306-5911

• Active inventory: 1
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,776 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$282 /mo · $3,383/yr
• Insurance: −$98
• HOA: −$388
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $193

Break-even live

Break-even rent $2,532

Max offer price $235,000

Occupancy floor 88%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Baldwin Ave Jersey City, NJ	1.0	1.0	340	$1,700	$5.00	7d	2	0.63mi
36 Journal Square Plz Jersey City, NJ	3.0	1.0–2.0	874	$4,563	$5.22	1d	127	0.67mi
425 Summit Ave Jersey City, NJ	2.0	1.0–2.0	751	$3,882	$5.17	1d	30	0.72mi
9 Homestead Pl Jersey City, NJ	3.0	1.0–2.0	572	$3,950	$6.91	24d	18	0.84mi
9 Homestead Pl Jersey City, NJ	3.0	1.0–2.0	572	$3,733	$6.53	24d	19	0.84mi
129 Magnolia Ave Jersey City, NJ	3.0	1.0–1.5	613	$2,007	$3.27	2d	3	0.85mi
115 Magnolia Ave Jersey City, NJ	—	1.0	300	$1,650	$5.50	7d	1	0.87mi
43 Cottage St Unit 617 Jersey City, NJ	—	1.0	370	$2,325	$6.28	24d	1	0.87mi
43 Cottage St Unit 2123 Jersey City, NJ	—	1.0	373	$2,425	$6.50	24d	1	0.87mi
43 Cottage St Unit 912 Jersey City, NJ	—	1.0	367	$2,375	$6.47	24d	1	0.87mi
43 Cottage St Unit 2012 Jersey City, NJ	—	1.0	367	$2,475	$6.74	24d	1	0.87mi
400 Claremont Ave Jersey City, NJ	2.0	1.0–2.0	1392	$2,780	$2.00	5d	22	1.08mi
165 Hopkins Ave Unit 12 Jersey City, NJ	—	1.0	300	$1,595	$5.32	15d	1	1.17mi

HOA detail condo

• Monthly dues: $388 · $4,656/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-15
   days on marketlisting id $235,000 Active 46 DOM
2. 2026-06-15
   days on market $235,000 Active 14 DOM
3. 2026-06-13
   days on market $235,000 Active 12 DOM
4. 2026-06-13
   days on market $235,000 Active 11 DOM
5. 2026-06-09
   days on market $235,000 Active 8 DOM
6. 2026-06-08
   days on market $235,000 Active 7 DOM
7. 2026-06-07
   days on market $235,000 Active 6 DOM
8. 2026-06-04
   days on market $235,000 Active 3 DOM
9. 2026-06-03
   days on market $235,000 Active 2 DOM
10. 2026-06-02
    days on marketlisting id $235,000 Active 1 DOM
11. 2026-06-01
    days on market $235,000 Active 32 DOM
12. 2026-05-31
    pricedays on market $235,000 Active 31 DOM
13. 2026-04-30
    listed $239,900 Active 654-char remark

    Show marketing remark (654 chars)

    Welcome to this beautifully maintained 1-bedroom, 1-bath home at Fairmount Court, ideally situated in the vibrant Journal Square section of Jersey City. This bright and inviting residence offers a comfortable living area, functional kitchen with ample cabinetry, and a spacious bedroom retreat.Perfect for commuters, you're just minutes from the Journal Square Transportation Center, plus easy access to buses, restaurants, caf s, and shopping. Whether you're a first-time buyer or savvy investor, this is an exceptional opportunity to own in one of Jersey City's most convenient and growing neighborhoods.Move right in and enjoy city living at its best!

14. 2026-04-22
    price $239,900
15. 2026-04-09
    price $255,000
16. 2026-02-26
    listed $260,000 Active
17. 2021-04-20
    historical
18. 2021-04-13
    price $188,000
19. 2021-03-09
    listed $190,000 Active
20. 2015-08-12
    soldstatus $102,250
21. 2015-08-01
    price $102,250
22. 2015-07-28
    soldstatus $102,250 Sold
23. 2015-07-10
    historical Under Contract
24. 2015-07-10
    listed $105,000 Active
25. 2015-07-10
    price $105,000
26. 2015-06-02
    historical
27. 2015-05-08
    status Back On Market
28. 2015-03-17
    status Contingent (Deposit Accepted by Owner)
29. 2015-02-11
    price $105,000
30. 2015-02-09
    status Active
31. 2015-02-01
    historical
32. 2014-12-08
    price $112,500
33. 2014-12-02
    listed $107,500 Active
34. 2012-09-04
    soldstatus $90,000
35. 2012-05-03
    historical
36. 2011-12-14
    listed $100,000
37. 2011-12-02
    historical
38. 2011-11-09
    listed $100,000
39. 2011-05-24
    historical
40. 2010-12-23
    listed $115,000
41. 2007-10-01
    historical
42. 2007-06-13
    listed $179,000
43. 2005-10-26
    soldstatus $138,000
44. 1998-11-18
    soldstatus $736,666

ⓘ 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: $3,383 · $282/mo
• Projected year-2 tax: $4,617 · $385/mo
• Expected delta: +$1,234/yr (+$103/mo · 36.5%)

ⓘ 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: $33,316
• − Mortgage interest: −$13,164
• − Property taxes: −$3,383
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,665
• − Management: −$2,665
• − HOA: −$4,656
• − Depreciation: −$6,836
• Taxable loss: −$1,229
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $2,612/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

-67.4% since first listed

32 events — show timeline

• 2026-04-30 Listed $239,900 GSMLS
• 2026-04-22 Price Changed $239,900 HCMLS
• 2026-04-09 Price Changed $255,000 HCMLS
• 2026-02-26 Listed $260,000 HCMLS
• 2021-04-20 Listing Removed — HCMLS
• 2021-04-13 Price Changed $188,000 HCMLS
• 2021-03-09 Listed $190,000 HCMLS
• 2015-08-12 Sold (Public Records) $102,250 Public Records
• 2015-08-01 Price Changed $102,250 HCMLS
• 2015-07-28 Sold (MLS) $102,250 HCMLS
• 2015-07-10 Contingent — HCMLS
• 2015-07-10 Listed $105,000 HCMLS
• 2015-07-10 Price Changed $105,000 HCMLS
• 2015-06-02 Listing Removed — HCMLS
• 2015-05-08 Relisted — HCMLS
• 2015-03-17 Pending — HCMLS
• 2015-02-11 Price Changed $105,000 HCMLS
• 2015-02-09 Relisted — HCMLS
• 2015-02-01 Listing Removed — HCMLS
• 2014-12-08 Price Changed $112,500 HCMLS
• 2014-12-02 Listed $107,500 HCMLS
• 2012-09-04 Sold (Public Records) $90,000 Public Records
• 2012-05-03 Listing Removed — HCMLS
• 2011-12-14 Listed $100,000 HCMLS
• 2011-12-02 Listing Removed — HCMLS
• 2011-11-09 Listed $100,000 HCMLS
• 2011-05-24 Listing Removed — HCMLS
• 2010-12-23 Listed $115,000 HCMLS
• 2007-10-01 Listing Removed — HCMLS
• 2007-06-13 Listed $179,000 HCMLS
• 2005-10-26 Sold (Public Records) $138,000 Public Records
• 1998-11-18 Sold (Public Records) $736,666 Public Records

Property tax history

+3.7%/yr

Latest (2025): $3,383 · +4.6% YoY. Source: county tax records.