26 Orchard St · Summit, NJ 07901-3923

$650,000

5 bd · 2.0 ba · 2,028 sqft · SingleFamily public records · 9 Days on market

Built 1900 6,534 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 +10.5/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Appreciation +5.0/10.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great opportunity for investors and builders. This property is strictly sold as-is.

Key facts

• 6,534 sq ft lot
• 4 parking spots
• Listed 9 days

Property features AI

Finance

• Financial info: 2 total units; Unit 1 rent: $2,000; Unit 1 security deposit: $3,000; Unit 2 rent: $1,625; Unit 2 security deposit: $2,438; Reported net operating income: $0; Reported gross operating income: $0; Reported total operating expenses: $0

Exterior

• Parking: 4 parking spaces; Single-car-width driveway; Blacktop driveway
• Utilities: Electric service; Natural gas service; Public water; Public sewer
• Home design: Two-story unit
• Construction: Aluminum siding; Asphalt shingle roof
• Exterior features: Open porch(es); Storage shed; Level lot

Interior

• Kitchen: Range/Oven - Gas (both units); Refrigerator (both units); Kitchen exhaust fan (both units)
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms
• Flooring: Tile floors
• Bathrooms: 2 full bathrooms (total); Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Two heating units; Natural gas heating; Window A/C units
• Interior features: Carbon monoxide detector; Smoke detector; Fire extinguisher; Tile floors; Gas water heater; Unfinished basement
• Laundry & utility: Owner pays water for both units; Tenant pays electric, gas, and heat for both units

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $-337 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $590k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $495k (23.9% below list).
• Recommended offer: $495k (23.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#26 in NJ, #713 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Summit Public School District (suburban): math 65% / reading 69% proficiency, ranked #24 of 472 in NJ (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Primary Center At Jefferson (143 students, 18% FRL); Summit High School (math 67% / reading 68%, grade B, #34 of 399 statewide, top 8%, 1,161 students, 14% FRL).
• Market conditions: 1 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,749 units permitted in Union County in 2024 (1,421 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($4k loan paydown + $20k appreciation (3.0% local appreciation)).
• Union County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $355k; list at $650k implies a 83% 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 $494,800 (23.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 0.76% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.22%
• DSCR: 0.90
• GRM: 10.9

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: 5.4%
• Equity multiple: 1.31×
• Total profit: $56,767
• Equity at exit: $292,268

10-year hold

• IRR: 8.4%
• Equity multiple: 2.28×
• Total profit: $232,155
• Equity at exit: $450,420

Cash invested: $182,000 (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 07901-3923

• Active inventory: 1
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $4,948 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$566 /mo · $6,796/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,039
• Net cashflow: $-337

Break-even live

Break-even rent $5,374

Max offer price $590,483

Occupancy floor —

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 Ashwood Ave Unit A Summit, NJ	4.0	1.5	1500	$3,800	$2.53	22d	1	0.43mi
11 Pine Ter W Short Hills, NJ	4.0	3.5	2960	$8,800	$2.97	1d	1	1.34mi

Listing history 7 events

1. 2026-04-30
   status Under Contract
2. 2026-04-21
   listed $650,000 Active
3. 2014-01-10
   soldstatus $355,000
4. 2014-01-09
   soldstatus $355,000
5. 1999-01-29
   soldstatus $151,500
6. 1999-01-26
   soldstatus $151,500
7. 1994-12-07
   soldstatus $150,000

ⓘ 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: $6,796 · $566/mo
• Projected year-2 tax: $11,490 · $958/mo
• Expected delta: +$4,695/yr (+$391/mo · 69.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥102°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,376
• − Mortgage interest: −$36,410
• − Property taxes: −$6,796
• − Insurance: −$3,250
• − Repairs & maintenance: −$4,750
• − Management: −$4,750
• − Depreciation: −$18,909
• Taxable loss: −$15,489
• Est. tax savings @ 24.0%: +$3,717
• After-tax cash flow: $-326/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: Summit Public School District
• NCES district ID: 3415900
• Math proficiency: 65% ▼ -11.00%
• Reading proficiency: 69% ▼ -16.00%
• Median HH income: $120,812
• Composite: 63.64/100
• National rank: #604
• State rank: #24 of 472 in NJ

Livability — Summit

• Score: 84/100
• State rank: #26
• US rank: #713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, NJ

Population outlook (Union County) Hauer SSP2

• Today (2025): 596,450 people
• By 2030: 616,880 · +3.4%
• By 2040: 658,185 · +10.4%
• By 2050: 696,707 · +16.8%
• By 2075: 785,448 · +31.7%
• By 2100: 836,583 · +40.3%

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

+333.3% since first listed

7 events — show timeline

• 2026-04-30 Pending — GSMLS
• 2026-04-21 Listed $650,000 GSMLS
• 2014-01-10 Sold (Public Records) $355,000 Public Records
• 2014-01-09 Sold (MLS) $355,000 GSMLS
• 1999-01-29 Sold (Public Records) $151,500 Public Records
• 1999-01-26 Sold (Public Records) $151,500 Public Records
• 1994-12-07 Sold (Public Records) $150,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $6,796 · +2.6% YoY. Source: county tax records.