410 Washington St · Trenton, NJ 08611

$180,000

2 bd · 1.0 ba · 1,056 sqft · Townhouse public records · 43 Days on market

Built 1886 1,260 sqft lot Est $201k · 10% under

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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 +22.8/30.0
• ARV discount +12.1/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Key facts

• Built 1886
• Listed 43 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Year built (per assessor)
• Construction: Brick construction; Stone foundation; Above grade and below grade structures
• Exterior features: 12.6 x 100 lot dimensions; No tidal water

Interior

• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard hot water heating; Natural gas heating and hot water
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 6.0% in Trenton — 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 76/100 on livability (#133 in NJ, #3,533 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools F, crime F, employment F.
• Trenton Public School District (urban): math 2% / reading 16% proficiency, ranked #471 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 84 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 41% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $80k; list at $180k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — 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 $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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?
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: 1.07% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $200,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Commonwealth Ave	0.21mi	2/1.5	1,104 (+4%)	4mo	$225,000	$204	77
1210 Chestnut Ave	0.42mi	3/1.0 (+1)	1,047 (-1%)	1mo	$170,000	$162	73
921--923 Lyndale Ave	0.44mi	2/1.0	1,022 (-3%)	2mo	$251,000	$246	73
327 Woodland St	0.36mi	3/1.0 (+1)	1,007 (-5%)	3mo	$182,000	$181	68
212 Hewitt St	0.25mi	2/1.0	928 (-12%)	1mo	$180,000	$194	67
345 Genesee St	0.53mi	3/1.0 (+1)	1,080 (+2%)	1mo	$110,000	$102	66
32 Washington St	0.36mi	3/0.5 (+1)	1,136 (+8%)	4mo	$164,000	$144	60
336 Columbus Ave	0.27mi	3/3.0 (+1)	1,162 (+10%)	3mo	$370,000	$318	55
1553 Chambers St	0.67mi	3/1.0 (+1)	1,182 (+12%)	1mo	$225,000	$190	43
41 Hollywood Ave	0.75mi	3/1.0 (+1)	1,180 (+12%)	2mo	$196,000	$166	39
508 Monmouth St	0.71mi	3/1.0 (+1)	1,192 (+13%)	3mo	$160,000	$134	38
2102 Liberty St	0.65mi	3/2.0 (+1)	1,201 (+14%)	3mo	$252,000	$210	35

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 · 4.71% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-5,939
• Equity at exit: $26,839

10-year hold

• IRR: 8.4%
• Equity multiple: 1.69×
• Total profit: $34,747
• Equity at exit: $15,563

Cash invested: $50,400 (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 08611

• Rents YoY: 4.7%
• Active inventory: 84
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,927 high
• Mortgage (P&I): −$944
• Tax from tax record: −$191 /mo · $2,297/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $312

Break-even live

Break-even rent $1,532

Max offer price $180,000

Occupancy floor 79%

Sensitivity live

Price	-10% $414	-5% $363	+0% $312	+5% $261	+10% $210
Rent	-10% $159	-5% $236	+0% $312	+5% $388	+10% $464
Rate	-1.0pp $402	-0.5pp $357	base $312	+0.5pp $265	+1.0pp $218

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	15d	1	0.24mi
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	22d	1	0.26mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	22d	1	0.38mi
837 Genesee St Trenton, NJ	2.0	1.0	850	$1,700	$2.00	22d	1	0.48mi
435 Tyler St Unit 115 Trenton, NJ	1.0	1.0	860	$1,600	$1.86	22d	1	0.53mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	22d	1	0.54mi
720 Monmouth St Unit 103 Trenton, NJ	1.0	1.0	832	$1,450	$1.74	22d	1	0.54mi
720 Monmouth St Unit 111 Trenton, NJ	1.0	1.0	1102	$1,500	$1.36	22d	1	0.54mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	22d	1	0.57mi
1132 Genesee St Unit 1132 Trenton, NJ	3.0	1.0	1198	$2,500	$2.09	22d	1	0.59mi
203 Genesee St Unit 2 Trenton, NJ	2.0	1.0	1452	$1,700	$1.17	22d	1	0.63mi
225 Home Ave Trenton, NJ	2.0	1.0	800	$1,750	$2.19	22d	1	0.68mi
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	15d	1	0.72mi
233 Virginia Ave Trenton, NJ	3.0	1.0	1302	$2,500	$1.92	14d	1	0.73mi
1078 Lalor St Unit 1 Trenton, NJ	2.0	1.0	1488	$1,895	$1.27	22d	1	0.73mi
1078 Lalor St Unit 2 Trenton, NJ	2.0	1.0	1488	$1,785	$1.20	22d	1	0.73mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	15d	4	0.77mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	22d	1	0.81mi
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	22d	1	0.83mi
244 Jersey St Trenton, NJ	3.0	1.5	1368	$2,300	$1.68	15d	1	0.88mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	22d	1	0.90mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	22d	1	1.07mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	1.07mi
547 Centre St Trenton, NJ	3.0	1.0	1060	$1,850	$1.75	22d	1	1.08mi
315 Wert Ave Trenton, NJ	2.0	1.0	685	$2,270	$3.31	14d	9	1.13mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	15d	1	1.13mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	15d	1	1.19mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	15d	1	1.19mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	15d	2	1.30mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	22d	1	1.37mi
210 Kuser Rd Trenton, NJ	3.0	1.5	1360	$2,700	$1.99	22d	1	1.39mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,220	$1.36	22d	1	1.40mi

Listing history 26 events

1. 2026-06-18
   days on market $180,000 Active 43 DOM
2. 2026-06-17
   days on market $180,000 Active 42 DOM
3. 2026-06-16
   days on market $180,000 Active 41 DOM
4. 2026-06-15
   days on market $180,000 Active 40 DOM
5. 2026-06-14
   days on market $180,000 Active 38 DOM
6. 2026-06-10
   days on market $180,000 Active 35 DOM
7. 2026-06-09
   days on market $180,000 Active 34 DOM
8. 2026-06-08
   days on market $180,000 Active 33 DOM
9. 2026-06-07
   days on market $180,000 Active 32 DOM
10. 2026-06-03
    days on market $180,000 Active 28 DOM
11. 2026-06-02
    days on market $180,000 Active 27 DOM
12. 2026-06-01
    days on market $180,000 Active 26 DOM
13. 2026-05-31
    days on market $180,000 Active 25 DOM
14. 2026-05-30
    days on market $180,000 Active 24 DOM
15. 2026-05-06
    listed $180,000 Active
16. 2021-07-16
    soldstatus $80,000
17. 2014-11-20
    historical
18. 2014-05-20
    listed $49,900
19. 2014-05-01
    historical
20. 2013-10-31
    listed $59,900
21. 2007-07-11
    soldstatus $92,900
22. 2007-07-02
    soldstatus $88,900
23. 2007-05-24
    historical
24. 2007-05-08
    listed $88,900
25. 2002-06-27
    soldstatus $54,000
26. 1995-08-07
    soldstatus $36,000

ⓘ 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: $2,297 · $191/mo
• Projected year-2 tax: $3,390 · $282/mo
• Expected delta: +$1,092/yr (+$91/mo · 47.6%)

ⓘ 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 1/10 Low
• 🌡 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,119
• − Mortgage interest: −$10,083
• − Property taxes: −$2,297
• − Insurance: −$900
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − Depreciation: −$5,236
• Taxable income: $904
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $3,523/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: Trenton Public School District
• NCES district ID: 3416290
• Math proficiency: 2% ▼ -8.00%
• Reading proficiency: 16% ▼ -4.00%
• Median HH income: $35,078
• Composite: 7.31/100
• National rank: #9956
• State rank: #471 of 472 in NJ

Livability — Trenton

• Score: 76/100
• State rank: #133
• US rank: #3533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, NJ
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 31,995
• Household income: $56,788
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 2147.0

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 381,395 people
• By 2030: 384,640 · +0.9%
• By 2040: 391,431 · +2.6%
• By 2050: 397,845 · +4.3%
• By 2075: 417,281 · +9.4%
• By 2100: 420,327 · +10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 62% Black 20% Two or more races 18% White 14% Native American 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 2% Swiss 1% Hispanic 1%
• Foreign-born: 37% · Canada, Jamaica, Guatemala
• Languages at home: 41% English-only · Spanish 57% French/Haitian/Cajun 2%

Political lean MEDSL · Mercer

• 2024 margin: Solid D (+33.9) · D 65.9% · R 32.0% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 36.1pp · 2024: 33.9pp
• All cycles: 2024: D+33.9 2020: D+40.0 2016: D+36.2 2012: D+36.8 2008: D+36.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -267.62%
• Current HPI: 276.5427
• Rent YoY: ▲ 4.71%
• Metro: Trenton-Princeton, NJ
• 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

+400.0% since first listed

12 events — show timeline

• 2026-05-06 Listed $180,000 BRIGHT MLS
• 2021-07-16 Sold (Public Records) $80,000 Public Records
• 2014-11-20 Listing Removed — BRIGHT MLS
• 2014-05-20 Listed $49,900 BRIGHT MLS
• 2014-05-01 Listing Removed — BRIGHT MLS
• 2013-10-31 Listed $59,900 BRIGHT MLS
• 2007-07-11 Sold (Public Records) $92,900 Public Records
• 2007-07-02 Sold (MLS) $88,900 BRIGHT MLS
• 2007-05-24 Listing Removed — BRIGHT MLS
• 2007-05-08 Listed $88,900 BRIGHT MLS
• 2002-06-27 Sold (Public Records) $54,000 Public Records
• 1995-08-07 Sold (Public Records) $36,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,297 · +1.5% YoY. Source: county tax records.