598 Van Houten Ave · Clifton, NJ 07013

$999,000

None bd · None ba · — sqft · MultiFamily · 27 Days on market

Fair condition

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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 +13.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Mixed-use 4-unit investment property in Clifton's sought-after Athenia section. Three residential apartments plus one ground-floor commercial storefront generating $4,850/month gross income ($58,200 annually). All utilities are separately metered tenants pay their own gas and electric. Unit breakdown: 1st Fl Front (Commercial): Operating storefront/print shop with half bath. Suitable for retail, professional services, or owner-user occupancy. $1,150/month. 1st Fl Rear (Residential): 1BR, living room, eat-in kitchen, full bath. Electric baseboard heat, wall AC, electric cooking. $850/month. 2nd Fl Front (Residential): 1BR, living room, eat-in kitchen, full bath. Baseboard hot water heat, window AC. $1,150/month. 2nd Fl Rear (Residential): 2BR plus loft, living room, dining room, eat-in kitchen, 2 full baths, in-unit washer/dryer. Baseboard hot water heat, wall AC. $1,700/month. Three units have individual gas hot water furnaces; 1st floor rear is all-electric. Roof replaced 2015. Located on Van Houten Avenue with shops, restaurants, and transit nearby. Quick access to Route 3, Route 46, Garden State Parkway, and NJ Transit bus and rail service. Approximately 15 miles to Manhattan.

Key facts

• In-unit washer dryer
• Roof replaced
• Listed 27 days

Tags

• MIXED-USE INVESTMENT PROPERTY
• SEPARATELY METERED UTILITIES
• IN-UNIT WASHER DRYER
• ROOF REPLACED

Property features AI

Exterior

• Home design: Residential Income property; Mixed Use
• Exterior features: Asphalt roof

Interior

• Interior features: Mixed-use residential income property (combines living and commercial space)

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $999k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2 ($28/yr) — positive. Per door: $1/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $874k (12.5% below list).
• Recommended offer: $874k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.7% in Clifton — 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 77/100 on livability (#110 in NJ, #2,833 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living F.
• Clifton Public School District (suburban): math 21% / reading 40% proficiency, ranked #332 of 472 in NJ (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 860 units permitted in Passaic County in 2024 (614 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• Passaic County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($984k) is reasonable based on typical stale-listing flexibility.

Recommended offer $874,200 (12.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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 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: 0.88% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 SPEER Ave	0.10mi	—/—	—	2mo	$1,050,000	—	81
90 Dick St	0.24mi	4/2.0	—	1mo	$675,000	—	76
9 Spencer Ave	0.28mi	4/2.0	—	4mo	$669,000	—	71
144 Major St	0.36mi	2/1.5	—	2mo	$443,000	—	69
18 Guenther Pl	0.39mi	—/—	—	4mo	$800,000	—	66
190 Martin Ave	0.40mi	6/2.0	—	3mo	$940,000	—	66
102 Scoles Ave	0.53mi	4/4.0	—	2mo	$805,000	—	62
20 Wickham St	0.54mi	4/2.0	—	2mo	$635,000	—	60
138 Scoles Ave	0.51mi	6/3.5	—	5mo	$940,000	—	59
339 Broadway	0.55mi	6/2.0	—	5mo	$650,000	—	58
16 Krueger Pl	0.70mi	6/4.0	—	0mo	$727,000	—	54
354 Summer St	0.63mi	5/2.0	—	4mo	$675,000	—	54

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-161,602
• Equity at exit: $148,954

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-139,994
• Equity at exit: $86,375

Cash invested: $279,720 (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 07013

• Active inventory: 37
• Price-to-rent: 38.1×

Monthly cashflow live

• Estimated rent: $8,742 high
• Mortgage (P&I): −$5,239
• Tax est. 1.5%: −$1,249 /mo · $14,985/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,836
• Net cashflow: $2

Break-even live

Break-even rent $8,739

Max offer price $999,000

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,740
Total (4 units)			$8,742

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Renaissance Dr Unit 2 Clifton, NJ	3.0	2.0	—	$3,200	—	25d	1	0.10mi
32 Althea St Unit Roommate Clifton, NJ	1.0	1.0	—	$1,850	—	25d	1	0.12mi
106 Speer Ave Unit 3 Clifton, NJ	2.0	1.0	—	$2,300	—	22d	1	0.13mi
60 Dick St Unit 2nd Fl Clifton, NJ	2.0	1.0	—	$2,500	—	25d	1	0.20mi
5 Wesley St Unit 2 Passaic, NJ	3.0	1.0	—	$2,500	—	24d	1	0.21mi
30 Bowdoin St #4 Clifton, NJ	2.0	1.5	—	$2,475	—	25d	1	0.25mi
30 Bowdoin St Unit 3 Clifton, NJ	3.0	1.0	—	$2,775	—	5d	1	0.25mi
47 Emma Pl Unit 2 Clifton, NJ	2.0	1.0	—	$2,200	—	3d	1	0.25mi
9 Spencer Ave Clifton, NJ	2.0	1.0	—	$2,400	—	5d	1	0.26mi
77 Wesley St Clifton, NJ	1.0	1.0	800	$1,750	$2.19	2d	1	0.30mi
77 Wesley St Unit 2 Clifton, NJ	1.0	1.0	—	$1,700	—	19d	1	0.30mi
69 La Salle Ave Unit 2 Clifton, NJ	2.0	1.0	—	$2,200	—	25d	1	0.32mi
46 Guenther Pl Passaic, NJ	3.0	1.0	—	$2,900	—	24d	1	0.35mi
99 Spencer Ave #1 Clifton, NJ	3.0	2.0	2700	$3,500	$1.30	5d	1	0.39mi
99 Spencer Ave Clifton, NJ	3.0	2.0	—	$3,500	—	22d	1	0.39mi
417 Boulevard Unit 9 Passaic, NJ	1.0	1.0	—	$1,850	—	5d	1	0.39mi
411 Boulevard Passaic, NJ	1.0	1.0	—	$1,850	—	21d	1	0.39mi
120 Campbell Ave Clifton, NJ	2.0	1.0	—	$2,400	—	7d	1	0.41mi
97 Sipp Ave Unit 2 Clifton, NJ	3.0	2.0	—	$3,500	—	25d	1	0.42mi
373 Broadway Unit 4 Passaic, NJ	2.0	1.0	—	$2,600	—	7d	1	0.53mi
17-19 Wickham St Unit 202 Passaic, NJ	3.0	1.0	—	$3,200	—	24d	1	0.53mi
17-19 Wickham St Unit 203 Passaic, NJ	2.0	1.0	—	$2,700	—	24d	1	0.53mi
109 Scoles Ave Clifton, NJ	2.0	1.0	—	$2,000	—	2d	1	0.57mi
94 Grant St Unit 2 Passaic, NJ	2.0	1.0	—	$2,000	—	13d	1	0.59mi
66 Mount Prospect Ave Unit 15 Clifton, NJ	2.0	2.0	—	$2,900	—	18d	1	0.60mi
66 Mount Prospect Ave Unit 4 Clifton, NJ	2.0	2.0	—	$2,700	—	7d	1	0.60mi
66 Mount Prospect Ave Unit 4 Clifton, NJ	2.0	2.0	—	$2,800	—	25d	1	0.60mi
382 Lafayette Ave Unit 2 Passaic, NJ	2.0	1.0	—	$2,200	—	3d	1	0.61mi
584 Gregory Ave Unit 1st Floor Clifton, NJ	2.0	1.0	—	$2,500	—	10d	1	0.62mi
12 Tromp St Unit 2 Clifton, NJ	2.0	1.0	800	$2,500	$3.12	25d	1	0.62mi
24 Van Vliet Ct Unit 2 Clifton, NJ	3.0	1.0	—	$3,100	—	25d	1	0.69mi
310 Summer St Clifton, NJ	3.0	2.5	—	$3,800	—	25d	1	0.69mi
178 Howe Ave Unit 3 Passaic, NJ	2.0	1.0	—	$2,200	—	18d	1	0.70mi
375 Madison St Unit 5 Passaic, NJ	2.0	1.0	—	$1,595	—	7d	1	0.71mi
355 Madison St Unit 1 Passaic, NJ	2.0	1.0	550	$2,100	$3.82	24d	1	0.76mi
163 Meade Ave Passaic, NJ	3.0	1.0	—	$2,400	—	24d	1	0.78mi
285 Aycrigg Ave Unit 4J Passaic, NJ	1.0	1.0	—	$2,350	—	24d	1	0.82mi
765 Clifton Ave Clifton, NJ	1.0–2.0	1.0	717	$2,475	$3.45	13d	3	0.82mi
3 Lucille Pl Unit 7 Passaic, NJ	3.0	1.0	800	$2,300	$2.88	19d	1	0.84mi
3 Lucille Pl Passaic, NJ	3.0	1.0	800	$2,300	$2.88	24d	1	0.84mi

Listing history 16 events

1. 2026-06-18
   days on market $999,000 Active 27 DOM
2. 2026-06-17
   days on market $999,000 Active 26 DOM
3. 2026-06-16
   days on market $999,000 Active 25 DOM
4. 2026-06-15
   days on market $999,000 Active 24 DOM
5. 2026-06-13
   days on market $999,000 Active 22 DOM
6. 2026-06-13
   days on market $999,000 Active 21 DOM
7. 2026-06-09
   days on market $999,000 Active 18 DOM
8. 2026-06-08
   days on market $999,000 Active 17 DOM
9. 2026-06-07
   days on market $999,000 Active 16 DOM
10. 2026-06-04
    days on market $999,000 Active 13 DOM
11. 2026-06-03
    days on market $999,000 Active 12 DOM
12. 2026-06-02
    days on market $999,000 Active 11 DOM
13. 2026-06-01
    days on market $999,000 Active 10 DOM
14. 2026-05-31
    days on market $999,000 Active 9 DOM
15. 2026-05-22
    historical $999,000 1200-char remark

    Show marketing remark (1200 chars)

    Mixed-use 4-unit investment property in Clifton's sought-after Athenia section. Three residential apartments plus one ground-floor commercial storefront generating $4,850/month gross income ($58,200 annually). All utilities are separately metered tenants pay their own gas and electric. Unit breakdown: 1st Fl Front (Commercial): Operating storefront/print shop with half bath. Suitable for retail, professional services, or owner-user occupancy. $1,150/month. 1st Fl Rear (Residential): 1BR, living room, eat-in kitchen, full bath. Electric baseboard heat, wall AC, electric cooking. $850/month. 2nd Fl Front (Residential): 1BR, living room, eat-in kitchen, full bath. Baseboard hot water heat, window AC. $1,150/month. 2nd Fl Rear (Residential): 2BR plus loft, living room, dining room, eat-in kitchen, 2 full baths, in-unit washer/dryer. Baseboard hot water heat, wall AC. $1,700/month. Three units have individual gas hot water furnaces; 1st floor rear is all-electric. Roof replaced 2015. Located on Van Houten Avenue with shops, restaurants, and transit nearby. Quick access to Route 3, Route 46, Garden State Parkway, and NJ Transit bus and rail service. Approximately 15 miles to Manhattan.

16. 2026-05-21
    listed $999,000 Active

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

Taxation est. · year 1

• Rental income: $104,904
• − Mortgage interest: −$55,960
• − Property taxes: −$14,985
• − Insurance: −$4,995
• − Repairs & maintenance: −$8,392
• − Management: −$8,392
• − Depreciation: −$29,062
• Taxable loss: −$16,882
• Est. tax savings @ 24.0%: +$4,052
• After-tax cash flow: $4,079/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 · 13 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations, focusing on updating the kitchen and bathroom to enhance both resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear visible
• Major Bathroom fixtures — Outdated and possibly leaking

Value-add opportunities

• Both Kitchen renovation — Modernizing the kitchen can increase both resale and rental value
• Both Bathroom renovation — Updating the bathroom can significantly boost both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear visible	Minor	$500–3,000
Bathroom fixtures · Outdated and possibly leaking	Major	$15,000–50,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Kitchen renovation — Modernizing the kitchen can increase both resale and rental value ↑
• Both Bathroom renovation — Updating the bathroom can significantly boost both resale and rental 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: Clifton Public School District
• NCES district ID: 3403300
• Math proficiency: 21% ▼ -18.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $66,455
• Composite: 28.12/100
• National rank: #6820
• State rank: #332 of 472 in NJ

Livability — Clifton

• Score: 77/100
• State rank: #110
• US rank: #2833

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clifton, NJ
• City population: 53,240
• Population (ZIP): 29,419

Population outlook (Passaic County) Hauer SSP2

• Today (2025): 525,915 people
• By 2030: 532,160 · +1.2%
• By 2040: 543,670 · +3.4%
• By 2050: 554,326 · +5.4%
• By 2075: 584,728 · +11.2%
• By 2100: 598,978 · +13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 26% Two or more races 13% Asian 10% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 3% Dominican 4%
• Common ancestry: Romanian 14% Subsaharan African 2% Russian 1%
• Foreign-born: 33% · Canada, Jamaica, South Korea
• Languages at home: 53% English-only · Spanish 19% Russian/Polish/Slavic 9% Other Indo-European 8%

Political lean MEDSL · Passaic

• 2024 margin: Toss-up / Even · D 46.9% · R 49.8% · Other 3.3%
• 2008→2024 swing: -24.6pp toward R · 2008: 21.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+16.5 2016: D+21.8 2012: D+27.3 2008: D+21.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -293.07%
• Current HPI: 294.2089
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-22 Coming Soon $999,000 GSMLS
• 2026-05-21 Listed $999,000 NJMLS