218 Orchard St · Elizabeth, NJ 07208-1649

$729,900

8 bd · 4.0 ba · 19,998 sqft · MultiFamily · 26 Days on market

Fair condition 6,098 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 +11.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

TWO FAMILY HOME WITH GARAGE AND DRIVEWAY, SECOND FLOOR HAS THE USE OF THE ATTIC EXTRA SPACE FOR STORAGE. A MUST TO SEE , NEAR KEAN UNIVERSITY, CLOSE TO TRAIN AND MAJOR ROUTES AND OTHER PUBLIC TRANSPORTATION. AN EXCELLENT OPPORTUNITY FOR BOTH AND OWNER OCCUPANTS. NEED

Key facts

• Near kean university
• Garage
• Driveway

Tags

• TWO FAMILY HOME
• GARAGE
• DRIVEWAY
• ATTIC EXTRA SPACE
• NEAR KEAN UNIVERSITY
• CLOSE TO TRAIN

Property features AI

Finance

• Other: Contact listing broker DEL CID REALTY LLC for more information
• Financial info: Property is a 2-unit building; Reported gross and net operating income and expenses are provided (detailed figures available in listing)

Exterior

• Parking: Six parking spaces total; Three-car garage (detached); Driveway with single-car width plus additional parking
• Utilities: Public water; Public sewer available; association sewer; Natural gas available in street
• Home design: Two-story unit style; Green exterior color
• Construction: Aluminum siding construction; Asphalt shingle roof
• Exterior features: Metal fence; Aluminum siding; Asphalt shingle roof

Interior

• Kitchen: Unit 1: Eat-in kitchen with gas range/oven; Unit 2: Eat-in kitchen with gas range/oven
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 1 bedroom; Attic listed as an additional room
• Bathrooms: Four full bathrooms total; Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Two heating units with baseboard (cast iron) heat; Natural gas heating; Two cooling units with wall A/C
• Interior features: Carbon monoxide detector; Smoke detectors; Fire extinguisher; Gas water heater; Finished walkout basement
• Laundry & utility: Owner pays heat and gas for Unit 1; Owner pays electric for Unit 1; Owner pays water for Unit 1; Owner pays water for Unit 2; Tenant pays electric, gas, and heat for Unit 2

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $730k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-283 ($-3k/yr) — negative. Per door: $-141/mo.
• To cash-flow at today's rent, offer at most $689k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $603k (17.4% below list).
• Recommended offer: $603k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.4% in Elizabeth — 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 69/100 on livability (#277 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety B+; Watch: amenities D+, schools D-, crime D-.
• Elizabeth Public Schools (suburban): math 9% / reading 33% proficiency, ranked #430 of 472 in NJ (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 1,749 units permitted in Union County in 2024 (1,421 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($5k loan paydown + $22k 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 ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($719k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $271k; list at $730k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $602,700 (17.4% 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. 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Crime grade is D 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. 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?
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: 0.83% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.66%
• DSCR: 0.93
• GRM: 10.1

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: 6.0%
• Equity multiple: 1.34×
• Total profit: $70,004
• Equity at exit: $328,195

10-year hold

• IRR: 8.9%
• Equity multiple: 2.34×
• Total profit: $274,691
• Equity at exit: $505,787

Cash invested: $204,372 (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 07208-1649

• Active inventory: 1
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $6,027 medium
• Mortgage (P&I): −$3,828
• Tax est. 1.5%: −$912 /mo · $10,948/yr
• Insurance: −$304
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,266
• Net cashflow: $-283

Break-even live

Break-even rent $6,385

Max offer price $688,972

Occupancy floor 100%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$6,028
Total (2 units)			$6,027

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: $182,475
• Closing costs: $21,897
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-15
   status $729,900 Under Contract 26 DOM
2. 2026-06-15
   days on market $729,900 Active 26 DOM
3. 2026-06-13
   days on market $729,900 Active 24 DOM
4. 2026-06-13
   days on market $729,900 Active 23 DOM
5. 2026-06-09
   days on market $729,900 Active 20 DOM
6. 2026-06-08
   days on market $729,900 Active 19 DOM
7. 2026-06-07
   days on market $729,900 Active 18 DOM
8. 2026-06-04
   days on market $729,900 Active 15 DOM
9. 2026-06-03
   days on market $729,900 Active 14 DOM
10. 2026-06-02
    days on market $729,900 Active 13 DOM
11. 2026-06-01
    days on market $729,900 Active 12 DOM
12. 2026-05-31
    days on market $729,900 Active 11 DOM
13. 2026-05-20
    listed $729,900 Active
14. 2017-05-25
    soldstatus $271,000 Sold
15. 2017-01-28
    historical
16. 2017-01-12
    listed $264,900 Active

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

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 ≥101°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,324
• − Mortgage interest: −$40,886
• − Property taxes: −$10,948
• − Insurance: −$3,650
• − Repairs & maintenance: −$5,786
• − Management: −$5,786
• − Depreciation: −$21,233
• Taxable loss: −$15,965
• Est. tax savings @ 24.0%: +$3,832
• After-tax cash flow: $437/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

A moderate rehab project is needed to improve the exterior and increase the home's value.

Repairs flagged

• Moderate siding — Weathered and discolored
• Moderate exterior paint — Needs touch-up

Value-add opportunities

• Both Paint exterior and trim — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and value
• Both Replace siding — Significant improvement in appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Weathered and discolored	Moderate	$3,000–15,000
exterior paint · Needs touch-up	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both Paint exterior and trim — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and value ↑
• Both Replace siding — Significant improvement in appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Elizabeth Public Schools
• NCES district ID: 3404590
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 33% ▼ -19.00%
• Median HH income: $43,785
• Composite: 18.05/100
• National rank: #8979
• State rank: #430 of 472 in NJ

Livability — Elizabeth

• Score: 69/100
• State rank: #277
• US rank: #8270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabeth, 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

+175.5% since first listed

4 events — show timeline

• 2026-05-20 Listed $729,900 GSMLS
• 2017-05-25 Sold (MLS) $271,000 GSMLS
• 2017-01-28 Delisted — GSMLS
• 2017-01-12 Listed $264,900 GSMLS