155 Seventh St · Salem, NJ 08079

$190,000

5 bd · 2.0 ba · 1,524 sqft · SingleFamily public records · 98 Days on market

Built 1920 3,820 sqft lot Est $166k · 14% over

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +7.2/10.0
• 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
• ARV discount +1.0/15.0

Listing remarks

Spacious and beautifully renovated, this five-bedroom, two-full-bath home offers exceptional size and value in the heart of Salem. Featuring a brand-new roof, new flooring throughout, and fresh updates from top to bottom, this move-in-ready property combines modern comfort with generous living space. The home boasts large rooms, flexible living areas, and plenty of natural light—perfect for a growing household, multi-generational living, or anyone looking for room to spread out. With its impressive square footage and thoughtful renovations, this is a rare opportunity to own a truly huge home at an affordable price point. Conveniently located near local amenities, schools, and major ro

Key facts

• Brand new roof
• New flooring
• Natural light

Tags

• BRAND NEW ROOF
• NEW FLOORING
• FLEXIBLE LIVING AREAS
• NATURAL LIGHT
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.

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: amenities F, commute F, employment 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.
• Zoned schools: John Fenwick Academy (411 students, 77% FRL); Salem Middle School (math 2% / reading 21%, grade F, #423 of 431 statewide, top 98%, 487 students, 79% FRL); Salem High School (math 17% / reading 37%, grade F, #312 of 399 statewide, top 79%, 420 students, 52% FRL) — zoned schools average 69% FRL vs 85% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 102 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,310/mo this rent would consume 51% 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 $592 of equity ($1k loan paydown + $-722 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 $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; list at $190k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $172,900 (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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.22% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $166,116
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Johnson St	0.27mi	5/1.5	1,500 (-2%)	20mo	$163,000	$109	66
8 Eakin St	0.27mi	4/2.0 (-1)	1,676 (+10%)	17mo	$226,000	$135	52
59 Chestnut St	0.41mi	4/1.5 (-1)	1,416 (-7%)	19mo	$130,000	$92	46

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: 7.6%
• Equity multiple: 1.36×
• Total profit: $18,891
• Equity at exit: $51,586

10-year hold

• IRR: 13.1%
• Equity multiple: 2.39×
• Total profit: $73,683
• Equity at exit: $59,216

Cash invested: $53,200 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,310 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$314 /mo · $3,770/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $435

Break-even live

Break-even rent $1,759

Max offer price $190,000

Occupancy floor 76%

Sensitivity live

Price	-10% $543	-5% $489	+0% $435	+5% $382	+10% $328
Rent	-10% $253	-5% $344	+0% $435	+5% $527	+10% $618
Rate	-1.0pp $531	-0.5pp $484	base $435	+0.5pp $386	+1.0pp $336

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	7d	1	0.11mi

Listing history 5 events

1. 2026-04-15
   status Pending
2. 2026-04-01
   price $190,000
3. 2026-01-18
   price $199,000
4. 2026-01-06
   listed $205,000 Active
5. 2025-10-28
   soldstatus $110,000

ⓘ 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: $3,770 · $314/mo
• Projected year-2 tax: $4,251 · $354/mo
• Expected delta: +$480/yr (+$40/mo · 12.7%)

ⓘ 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 (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°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: $27,725
• − Mortgage interest: −$10,643
• − Property taxes: −$3,770
• − Insurance: −$950
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − Depreciation: −$5,527
• Taxable income: $2,398
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $4,650/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

+72.7% since first listed

5 events — show timeline

• 2026-04-15 Pending — BRIGHT MLS
• 2026-04-01 Price Changed $190,000 BRIGHT MLS
• 2026-01-18 Price Changed $199,000 BRIGHT MLS
• 2026-01-06 Listed $205,000 BRIGHT MLS
• 2025-10-28 Sold (Public Records) $110,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $3,770 · +4.9% YoY. Source: county tax records.