23 Yorke St · Salem, NJ 08079

$112,500

4 bd · 1.0 ba · 1,317 sqft · SingleFamily public records · 98 Days on market

Built 1890 4,125 sqft lot Est $187k · 40% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

* * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

Key facts

• Built 1890
• Listed 98 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Semi-detached property; Fee simple ownership; Year built/effective 2026 (estimated)
• Construction: Frame construction; Brick/mortar foundation; Above-grade and below-grade structures
• Exterior features: No tidal water

Interior

• Bedrooms: Four bedrooms on the first upper level
• Bathrooms: One full bathroom (total)
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Estimated living area; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $102k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 8.1% 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: 102 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,182/mo this rent would consume 48% of the median local household income ($55k/yr) (locally 663% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $350 of equity ($778 loan paydown + $-428 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 $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $38k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $87k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; 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 $102,375 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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.
8. 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.
9. 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: 1.94% ✓
• Cap rate: 15.31%
• Cash-on-cash: 32.22%
• DSCR: 2.43
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $187,014
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Yorke St	0.07mi	3/1.5 (-1)	1,197 (-9%)	1mo	$161,000	$135	74
318 Fenwick Ave	0.48mi	3/1.0 (-1)	1,344 (+2%)	3mo	$191,250	$142	67
22 Davis Ave	0.07mi	3/1.0 (-1)	1,158 (-12%)	7mo	$185,000	$160	66
304 New Market St	0.56mi	3/1.0 (-1)	1,310 (-0%)	4mo	$186,000	$142	65
352 Allen Ave	0.29mi	3/1.5 (-1)	1,460 (+11%)	7mo	$225,000	$154	56
170 Johnson St	0.51mi	3/1.0 (-1)	1,417 (+8%)	9mo	$180,000	$127	51
363 Grant St	0.55mi	3/2.5 (-1)	1,424 (+8%)	0mo	$250,000	$176	50
2 New Bridge Rd Unit C3	0.66mi	3/1.5 (-1)	1,400 (+6%)	4mo	$79,000	$56	49
208 9th St	0.52mi	3/1.0 (-1)	1,149 (-13%)	1mo	$224,000	$195	49
272 E Broadway	0.49mi	3/2.0 (-1)	1,500 (+14%)	1mo	$65,000	$43	44
115 Chestnut St	0.65mi	3/3.5 (-1)	1,282 (-3%)	8mo	$185,000	$144	44
28 Chestnut St	0.70mi	3/1.0 (-1)	1,152 (-12%)	9mo	$118,000	$102	34

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: 32.2%
• Equity multiple: 2.55×
• Total profit: $48,671
• Equity at exit: $30,544

10-year hold

• IRR: 36.2%
• Equity multiple: 4.96×
• Total profit: $124,667
• Equity at exit: $35,062

Cash invested: $31,500 (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: 102
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,182 high
• Mortgage (P&I): −$590
• Tax from tax record: −$241 /mo · $2,890/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $846

Break-even live

Break-even rent $1,111

Max offer price $112,500

Occupancy floor 56%

Sensitivity live

Price	-10% $909	-5% $878	+0% $846	+5% $814	+10% $782
Rent	-10% $673	-5% $760	+0% $846	+5% $932	+10% $1,018
Rate	-1.0pp $902	-0.5pp $874	base $846	+0.5pp $817	+1.0pp $787

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: $28,125
• Closing costs: $3,375
• 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	45d	1	0.28mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	6d	1	0.66mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	0d	1	0.86mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	4d	1	0.91mi
695 Salem Quinton Rd Salem, NJ	4.0	1.0	1356	$2,400	$1.77	45d	1	1.38mi

Listing history 36 events

1. 2026-06-16
   status $112,500 Pending 98 DOM
2. 2026-06-08
   statusdays on market $112,500 Active Under Contract 98 DOM
3. 2026-06-07
   days on market $112,500 Active 97 DOM
4. 2026-06-04
   days on market $112,500 Active 94 DOM
5. 2026-06-03
   days on market $112,500 Active 93 DOM
6. 2026-06-02
   days on market $112,500 Active 92 DOM
7. 2026-06-01
   days on market $112,500 Active 91 DOM
8. 2026-05-31
   days on market $112,500 Active 90 DOM
9. 2026-05-19
   price $115,000
10. 2026-05-12
    price $120,000
11. 2026-05-04
    price $125,000
12. 2026-04-20
    price $130,000
13. 2026-04-13
    price $135,000
14. 2026-03-27
    price $139,999
15. 2026-03-18
    price $145,000
16. 2026-03-02
    listed $150,000 Active
17. 2025-10-10
    historical
18. 2025-07-11
    price $105,000
19. 2025-05-30
    price $110,000
20. 2025-04-09
    price $115,000
21. 2025-03-19
    listed $120,000 Active
22. 2024-07-29
    soldstatus $87,000
23. 2024-07-08
    soldstatus $87,000 Closed 751-char remark

    Show marketing remark (751 chars)

    * * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

24. 2024-06-09
    status Pending 751-char remark

    Show marketing remark (751 chars)

    * * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

25. 2024-05-22
    price $95,000 751-char remark

    Show marketing remark (751 chars)

    * * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

26. 2024-04-16
    status Active 751-char remark

    Show marketing remark (751 chars)

    * * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

27. 2024-03-16
    status Pending 751-char remark

    Show marketing remark (751 chars)

    * * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

28. 2024-02-20
    listed $90,000 Active 751-char remark

    Show marketing remark (751 chars)

    * * * Back on the market, don't miss your opportunity! * * * Well maintained 4 bed, 1 bath twin in Salem. Home offers a mudroom at the front of the house. The living space is wide open. This leads back to the kitchen, followed by a laundry area, and a mudroom in the back of the house. There is a large unfinished basement that offers plenty of storage space. Upstairs, there are 4 bedrooms and a full bath. There is an additional room that could be an office, craft room, or possible 5th bedroom. This home is on the outskirts of Salem, almost in Quinton. For years of worry free maintenance, you have a heater approximately 7 years old, water heater approximately 5 years old, roof approximately 3 years old. Sale is subject to a current lease.

29. 2017-06-30
    historical
30. 2016-12-30
    listed $89,900
31. 2011-08-18
    historical
32. 2011-02-18
    listed $80,000
33. 2005-08-17
    soldstatus $51,900
34. 2005-08-12
    soldstatus $51,900
35. 2005-05-17
    historical
36. 2005-01-19
    listed $51,900

ⓘ 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: $2,890 · $241/mo
• Projected year-2 tax: $2,890 · $241/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 69% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,178
• − Mortgage interest: −$6,302
• − Property taxes: −$2,890
• − Insurance: −$562
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − Depreciation: −$3,273
• Taxable income: $8,962
• Est. tax owed @ 24.0%: −$2,151
• After-tax cash flow: $7,997/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

+121.6% since first listed

28 events — show timeline

• 2026-05-19 Price Changed $115,000 BRIGHT MLS
• 2026-05-12 Price Changed $120,000 BRIGHT MLS
• 2026-05-04 Price Changed $125,000 BRIGHT MLS
• 2026-04-20 Price Changed $130,000 BRIGHT MLS
• 2026-04-13 Price Changed $135,000 BRIGHT MLS
• 2026-03-27 Price Changed $139,999 BRIGHT MLS
• 2026-03-18 Price Changed $145,000 BRIGHT MLS
• 2026-03-02 Listed $150,000 BRIGHT MLS
• 2025-10-10 Listing Removed — BRIGHT MLS
• 2025-07-11 Price Changed $105,000 BRIGHT MLS
• 2025-05-30 Price Changed $110,000 BRIGHT MLS
• 2025-04-09 Price Changed $115,000 BRIGHT MLS
• 2025-03-19 Listed $120,000 BRIGHT MLS
• 2024-07-29 Sold (Public Records) $87,000 Public Records
• 2024-07-08 Sold (MLS) $87,000 BRIGHT MLS
• 2024-06-09 Pending — BRIGHT MLS
• 2024-05-22 Price Changed $95,000 BRIGHT MLS
• 2024-04-16 Relisted — BRIGHT MLS
• 2024-03-16 Pending — BRIGHT MLS
• 2024-02-20 Listed $90,000 BRIGHT MLS
• 2017-06-30 Listing Removed — BRIGHT MLS
• 2016-12-30 Listed $89,900 BRIGHT MLS
• 2011-08-18 Listing Removed — BRIGHT MLS
• 2011-02-18 Listed $80,000 BRIGHT MLS
• 2005-08-17 Sold (Public Records) $51,900 Public Records
• 2005-08-12 Sold (MLS) $51,900 BRIGHT MLS
• 2005-05-17 Listing Removed — BRIGHT MLS
• 2005-01-19 Listed $51,900 BRIGHT MLS

Property tax history

+0.8%/yr

Latest (2025): $2,890 · +4.9% YoY. Source: county tax records.