79 Walnut St · Salem, NJ 08079

$89,900

3 bd · 1.0 ba · 1,316 sqft · SingleFamily public records · 162 Days on market

Built 1910 3,241 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Handy persons special! Excellent opportunity! This 3 bedroom twin home has lots of potential for the savvy investor. Fix up to live in, resell or rent out. Potential rent $1500- $1600 per month. Being sold as is. Schedule appt today!

Key facts

• Built 1910
• Listed 161 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Semi-detached property; Fee simple ownership
• Construction: Other foundation; Above-grade and below-grade structures
• Exterior features: Lot dimensions approximately 20 x 162

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Radiator / hot water heating; Oil-fired heating; Electric hot water; Cooling: Other
• Interior features: Partial basement

🏷️ Possibly a rental listed for sale. The $89,900 price doesn't fit this home's estimated sale value (~$202,664) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 8.4% 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: 100 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $280 of equity ($622 loan paydown + $-342 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 9 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 $26k; list at $90k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.87% ✓
• Cap rate: 14.33%
• Cash-on-cash: 28.69%
• DSCR: 2.28
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $202,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 New Market St	0.07mi	3/1.0	1,310 (-0%)	4mo	$186,000	$142	92
410 Magnolia St	0.46mi	2/1.0 (-1)	1,310 (-0%)	1mo	$170,000	$130	72
318 Fenwick Ave	0.51mi	3/1.0	1,344 (+2%)	3mo	$191,250	$142	71
197 Pine Ave	0.63mi	3/1.0	1,318 (+0%)	2mo	$205,000	$156	68
201 Chestnut St	0.56mi	3/1.0	1,308 (-1%)	6mo	$128,500	$98	68
208 9th St	0.37mi	3/1.0	1,149 (-13%)	1mo	$224,000	$195	61
272 E Broadway	0.28mi	3/2.0	1,500 (+14%)	1mo	$65,000	$43	59
14 Yorke St	0.51mi	3/1.5	1,197 (-9%)	1mo	$161,000	$135	58
188 Cook Ave	0.45mi	4/2.0 (+1)	1,260 (-4%)	6mo	$210,000	$167	57
179 Victory Ave	0.41mi	4/1.5 (+1)	1,449 (+10%)	0mo	$238,000	$164	56
352 Allen Ave	0.42mi	3/1.5	1,460 (+11%)	6mo	$225,000	$154	55
363 Grant St	0.56mi	3/2.5	1,424 (+8%)	0mo	$250,000	$176	54

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: 25.0%
• Equity multiple: 2.19×
• Total profit: $29,999
• Equity at exit: $24,408

10-year hold

• IRR: 29.5%
• Equity multiple: 4.20×
• Total profit: $80,579
• Equity at exit: $28,018

Cash invested: $25,172 (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: 100
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,682 high
• Mortgage (P&I): −$471
• Tax from tax record: −$218 /mo · $2,614/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $535

Break-even live

Break-even rent $1,004

Max offer price $89,900

Occupancy floor 63%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Sinnickson St Salem, NJ	2.0	1.0	1008	$1,500	$1.49	1d	1	0.10mi
26 Walnut St Unit A Salem, NJ	2.0	1.0	1000	$1,225	$1.23	1d	1	0.19mi
1 9th St Salem, NJ	2.0	1.0	900	$1,450	$1.61	1d	1	0.32mi
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	43d	1	0.33mi
380 E Broadway Salem, NJ	2.0	1.0	1300	$1,350	$1.04	1d	1	0.43mi
242 Grant St Unit 1ST FLOOR Salem, NJ	2.0	1.0	925	$1,675	$1.81	1d	1	0.49mi
270-272 Grant St Salem, NJ	4.0	1.0	1644	$2,100	$1.28	5d	1	0.50mi
124 Yorke St Unit 37 Salem, NJ	2.0	1.0	1220	$1,350	$1.11	2d	1	0.67mi
37 Eighth St Salem, NJ	3.0	1.0	1092	$1,850	$1.69	1d	1	0.71mi
23 7th St Unit B Salem, NJ	3.0	1.0	1000	$1,450	$1.45	3d	1	0.73mi

Listing history 37 events

1. 2026-06-18
   days on market $89,900 Active 162 DOM
2. 2026-06-17
   days on market $89,900 Active 161 DOM
3. 2026-06-16
   days on market $89,900 Active 160 DOM
4. 2026-06-15
   days on market $89,900 Active 159 DOM
5. 2026-06-13
   days on market $89,900 Active 157 DOM
6. 2026-06-13
   days on market $89,900 Active 156 DOM
7. 2026-06-09
   days on market $89,900 Active 153 DOM
8. 2026-06-08
   days on market $89,900 Active 152 DOM
9. 2026-06-07
   days on market $89,900 Active 151 DOM
10. 2026-06-04
    days on market $89,900 Active 148 DOM
11. 2026-06-03
    days on market $89,900 Active 147 DOM
12. 2026-06-02
    days on market $89,900 Active 146 DOM
13. 2026-06-01
    days on market $89,900 Active 145 DOM
14. 2026-05-31
    days on market $89,900 Active 144 DOM
15. 2026-01-08
    listed $89,900 Active
16. 2026-01-03
    historical $89,900
17. 2025-06-18
    historical
18. 2025-05-23
    listed $90,000 Active
19. 2025-05-23
    listed $90,000 Active
20. 2025-04-15
    historical
21. 2024-11-24
    price $90,000
22. 2024-10-19
    listed $80,000 Active
23. 2021-03-31
    soldstatus $26,000 Closed
24. 2021-03-10
    status Pending
25. 2021-02-22
    listed $29,325 Active
26. 2012-10-03
    historical
27. 2012-10-03
    soldstatus $18,201 Sold
28. 2012-10-03
    soldstatus $18,201
29. 2012-08-23
    status Under Contract
30. 2012-07-29
    historical
31. 2012-05-11
    listed $25,000 Active
32. 2012-05-11
    listed $25,000
33. 2009-08-30
    historical
34. 2009-02-10
    listed $68,000
35. 2008-12-01
    historical
36. 2007-05-17
    listed $68,000
37. 1995-02-21
    soldstatus $42,000

ⓘ 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: $2,614 · $218/mo
• Projected year-2 tax: $2,614 · $218/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 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $20,180
• − Mortgage interest: −$5,036
• − Property taxes: −$2,614
• − Insurance: −$1,247
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − Depreciation: −$2,615
• Taxable income: $5,439
• Est. tax owed @ 24.0%: −$1,305
• After-tax cash flow: $5,118/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

+114.0% since first listed

23 events — show timeline

• 2026-01-08 Listed $89,900 BRIGHT MLS
• 2026-01-03 Coming Soon $89,900 BRIGHT MLS
• 2025-06-18 Listing Removed — BRIGHT MLS
• 2025-05-23 Listed $90,000 BRIGHT MLS
• 2025-05-23 Listed $90,000 MOMLS
• 2025-04-15 Listing Removed — BRIGHT MLS
• 2024-11-24 Price Changed $90,000 BRIGHT MLS
• 2024-10-19 Listed $80,000 BRIGHT MLS
• 2021-03-31 Sold (MLS) $26,000 BRIGHT MLS
• 2021-03-10 Pending — BRIGHT MLS
• 2021-02-22 Listed $29,325 BRIGHT MLS
• 2012-10-03 Delisted — TREND
• 2012-10-03 Sold (MLS) $18,201 BRIGHT MLS
• 2012-10-03 Sold (MLS) $18,201 TREND
• 2012-08-23 Pending — TREND
• 2012-07-29 Listing Removed — BRIGHT MLS
• 2012-05-11 Listed $25,000 BRIGHT MLS
• 2012-05-11 Listed $25,000 TREND
• 2009-08-30 Listing Removed — BRIGHT MLS
• 2009-02-10 Listed $68,000 BRIGHT MLS
• 2008-12-01 Listing Removed — BRIGHT MLS
• 2007-05-17 Listed $68,000 BRIGHT MLS
• 1995-02-21 Sold (Public Records) $42,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $2,614 · +4.9% YoY. Source: county tax records.