17 Summer St · Lodi, NJ 07644

$926,000

None bd · None ba · — sqft · MultiFamily · 160 Days on market

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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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

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

Corner property just behind of shopping mall with Amazon Fresh, Aldi tenants , 2story 4unit mixed use( 2 commercial unit+ 2 apt), 1st floor : one tenant use two units together ( front unit; cafe, rear unit: catering & party), 2nd floor; 2apt (1bed each) , separate gas & heating electricity. The 75% of water bill paid by the cafe

Key facts

• Mixed use
• Separate gas
• Commercial unit

Tags

• CORNER PROPERTY
• MIXED USE
• COMMERCIAL UNIT
• SEPARATE GAS

Property features AI

Exterior

• Home design: Residential income property; Mixed-use property
• Exterior features: Asphalt roof

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $926k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive. Per door: $129/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $875k (5.5% below list).
• Recommended offer: $815k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 2.0% in Lodi — 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 67/100 on livability (#342 in NJ) — a middle-class / working-renter tenant base. Strengths: schools A-, crime A-, employment B+; Watch: amenities D-, commute F, cost of living F.
• Lodi School District (suburban): math 18% / reading 49% proficiency, ranked #315 of 472 in NJ (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.8%/yr); 38 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• At $8,754/mo this rent would consume 118% of the median local household income ($89k/yr) (locally 1445% 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 $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($815k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $814,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.95% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Spring St	0.06mi	4/2.0	—	2mo	$650,000	—	83
22 Bernice Pl	0.21mi	5/3.0	—	2mo	$672,000	—	76
175 Union St	0.37mi	4/1.5	—	2mo	$720,000	—	69
45 Arnot St	0.36mi	6/2.0	—	2mo	$760,000	—	69
89 Norwood Ave	0.42mi	6/4.5	—	1mo	$999,000	—	67
144 S Main St	0.37mi	6/3.5	—	4mo	$940,000	—	67
93 Richmond St	0.51mi	5/4.0	—	3mo	$992,500	—	61
102 Charlton Ave	0.60mi	4/3.5	—	4mo	$1,150,000	—	57
247 Malcolm Ave	0.68mi	5/3.0	—	0mo	$757,000	—	56
89 Westminster Pl	0.66mi	4/2.0	—	2mo	$789,000	—	56
363 Macarthur Ave	0.65mi	7/3.0	—	3mo	$699,900	—	54
19 Victor St	0.71mi	4/2.0	—	2mo	$805,000	—	53

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

Projected returns pro-forma

-3.0% appreciation · 4.85% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.61×
• Total profit: $-100,443
• Equity at exit: $138,070

10-year hold

• IRR: 1.3%
• Equity multiple: 1.10×
• Total profit: $26,134
• Equity at exit: $80,064

Cash invested: $259,280 (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 07644

• Home prices YoY: -12.0%
• Rents YoY: 4.8%
• Active inventory: 38
• Price-to-rent: 35.3×

Monthly cashflow live

• Estimated rent: $8,754 high
• Mortgage (P&I): −$4,856
• Tax est. 1.5%: −$1,158 /mo · $13,890/yr
• Insurance: −$386
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,838
• Net cashflow: $516

Break-even live

Break-even rent $8,100

Max offer price $926,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,756
Total (4 units)			$8,754

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: $231,500
• Closing costs: $27,780
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56 Spring St Lodi, NJ	3.0	1.0	—	$2,690	—	1d	1	0.07mi
55 Spring St Unit 2 Lodi, NJ	2.0	1.0	—	$2,400	—	11d	1	0.08mi
55 Spring St Unit 1 Lodi, NJ	3.0	2.0	—	$3,000	—	12d	1	0.08mi
61 Spring St Unit 1st floor Lodi, NJ	3.0	2.0	—	$2,800	—	14d	1	0.08mi
44 S Main St Lodi, NJ	1.0	1.0	740	$2,250	$3.04	2d	2	0.11mi
44 S Main St Unit 6F Lodi, NJ	1.0	1.0	—	$2,100	—	24d	1	0.11mi
25 James St #2 Lodi, NJ	3.0	2.0	—	$3,300	—	24d	1	0.13mi
35 East Pl Lodi, NJ	3.0	2.0	—	$2,800	—	24d	1	0.14mi
13 Roosevelt Ave Unit A Lodi, NJ	3.0	3.0	—	$4,000	—	24d	1	0.15mi
49 Prospect St Lodi, NJ	2.0	1.0	—	$2,200	—	24d	1	0.17mi
60 Roosevelt Ave Unit 2ND FLR Lodi, NJ	2.0	1.0	—	$2,000	—	24d	1	0.22mi
68 Liberty St Unit 1st floor Lodi, NJ	3.0	2.0	—	$3,100	—	24d	1	0.22mi
15 Bernice Pl Unit 2 Lodi, NJ	2.0	1.0	—	$2,300	—	20d	1	0.25mi
133 Washington St Unit 1 Lodi, NJ	3.0	1.0	—	$2,850	—	2d	1	0.26mi
12 Madison Ave Unit 1 Lodi, NJ	2.0	1.5	—	$2,600	—	24d	1	0.27mi
14 River St Lodi, NJ	1.0	1.0	—	$1,750	—	24d	1	0.29mi
124 S Main St Unit back Lodi, NJ	3.0	1.0	—	$2,500	—	24d	1	0.29mi
120 Union St Lodi, NJ	2.0	1.0	—	$2,450	—	10d	1	0.29mi
126 Union St Lodi, NJ	2.0	1.5	—	$2,000	—	21d	1	0.30mi
61 Union St Lodi, NJ	3.0	1.0	—	$2,600	—	21d	1	0.30mi
11 Massey St Lodi, NJ	1.0	1.0	710	$2,050	$2.89	16d	2	0.32mi
37 Corabelle Ave Lodi, NJ	2.0	1.0	—	$2,250	—	2d	1	0.34mi
144 S Main St Unit 1 Lodi, NJ	2.0	2.0	—	$2,700	—	11d	1	0.35mi
144 S Main St Unit 1 Lodi, NJ	2.0	2.0	—	$2,650	—	2d	1	0.35mi
385 Passaic Ave Unit 3 Lodi, NJ	2.0	2.0	—	$3,200	—	6d	1	0.36mi
34 Burns Ave Unit 1 Lodi, NJ	1.0	1.0	—	$1,900	—	24d	1	0.36mi
48 Burns Ave Unit 2 Lodi, NJ	3.0	2.0	—	$3,690	—	4d	1	0.37mi
28 Burns Ave Unit 1 Lodi, NJ	1.0	1.0	—	$1,700	—	12d	1	0.37mi
173 Paterson Ave Fl 1 Lodi, NJ	2.0	1.0	—	$2,500	—	18d	1	0.38mi
61 Chestnut St Unit 2 Lodi, NJ	3.0	2.0	—	$3,900	—	7d	1	0.43mi
60 Church St Unit First Floor Lodi, NJ	3.0	2.0	—	$2,950	—	1d	1	0.44mi
94 1st St Lodi, NJ	2.0	1.0	1000	$2,100	$2.10	6d	1	0.45mi
125 McKinley Ave Lodi, NJ	3.0	2.0	—	$2,900	—	24d	1	0.45mi
238 Westminster Pl Lodi, NJ	3.0	1.0	—	$3,000	—	24d	1	0.46mi
15 Dell Glen Ave Unit 2 Lodi, NJ	3.0	1.0	—	$3,000	—	24d	1	0.48mi
15 Dell Glen Ave Unit 1st floor Lodi, NJ	1.0	1.0	—	$2,000	—	10d	1	0.48mi
81 Church St #4 Lodi, NJ	2.0	1.5	—	$2,900	—	24d	1	0.48mi
285 Westminster Pl Lodi, NJ	2.0	1.0	—	$2,350	—	24d	1	0.49mi
25 Dell Glen Ave Lodi, NJ	3.0	1.0	—	$2,995	—	7d	1	0.50mi
309 Westminster Pl Lodi, NJ	1.0	1.0	800	$2,500	$3.12	24d	1	0.51mi

Listing history 15 events

1. 2026-06-18
   days on market $926,000 Active 160 DOM
2. 2026-06-17
   days on market $926,000 Active 159 DOM
3. 2026-06-16
   days on market $926,000 Active 158 DOM
4. 2026-06-15
   days on market $926,000 Active 157 DOM
5. 2026-06-13
   days on market $926,000 Active 155 DOM
6. 2026-06-09
   days on market $926,000 Active 151 DOM
7. 2026-06-08
   days on market $926,000 Active 150 DOM
8. 2026-06-07
   days on market $926,000 Active 149 DOM
9. 2026-06-04
   days on market $926,000 Active 146 DOM
10. 2026-06-03
    days on market $926,000 Active 145 DOM
11. 2026-06-02
    days on market $926,000 Active 144 DOM
12. 2026-06-01
    days on market $926,000 Active 143 DOM
13. 2026-05-31
    days on market $926,000 Active 142 DOM
14. 2026-03-02
    status Active
15. 2026-01-09
    listed $926,000 Active

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

Taxation est. · year 1

• Rental income: $105,048
• − Mortgage interest: −$51,870
• − Property taxes: −$13,890
• − Insurance: −$4,630
• − Repairs & maintenance: −$8,404
• − Management: −$8,404
• − Depreciation: −$26,938
• Taxable loss: −$9,088
• Est. tax savings @ 24.0%: +$2,181
• After-tax cash flow: $8,377/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: Lodi School District
• NCES district ID: 3408850
• Math proficiency: 18% ▼ -32.00%
• Reading proficiency: 49% ▼ -24.00%
• Median HH income: $54,154
• Composite: 29.38/100
• National rank: #6528
• State rank: #315 of 472 in NJ

Livability — Lodi

• Score: 67/100
• State rank: #342
• US rank: #11056

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lodi, NJ
• County: Bergen County · 586,961 people
• City population: 26,082
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,082
• Household income: $89,305
• Rent vs Own: 57.6% rent · 42.4% own
• Severe rent burden: 1445.0

Population outlook (Bergen County) Hauer SSP2

• Today (2025): 1,021,896 people
• By 2030: 1,063,119 · +4.0%
• By 2040: 1,146,566 · +12.2%
• By 2050: 1,229,132 · +20.3%
• By 2075: 1,429,694 · +39.9%
• By 2100: 1,547,614 · +51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 40% White 39% Two or more races 20% Black 8% Asian 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 1% Dominican 12%
• Common ancestry: Romanian 4% Russian 3% Scottish 1%
• Foreign-born: 38% · Canada, Jamaica, India
• Languages at home: 48% English-only · Spanish 33% Other Indo-European 7% Tagalog/Filipino 3%

Political lean MEDSL · Bergen

• 2024 margin: Toss-up / Even · D 50.7% · R 47.3% · Other 2.0%
• 2008→2024 swing: -6.1pp toward R · 2008: 9.5pp · 2024: 3.4pp
• All cycles: 2024: D+3.4 2020: D+16.4 2016: D+12.0 2012: D+10.8 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.34%
• Current HPI: 333.1595
• Rent YoY: ▲ 4.85%
• 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

2 events — show timeline

• 2026-03-02 Relisted — NJMLS
• 2026-01-09 Listed $926,000 NJMLS