500 Central Ave · Union City, NJ 07087-5300

$325,000

1 bd · 1.0 ba · — sqft · Condo · 46 Days on market

Built 1963 Est $582k · 44% under $644/mo HOA · 29% of rent ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Cash flow +2.6/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 1% rule +1.9/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to high rise luxury living and all newer condo at The Lenox. Enjoy the convenience of a full-service condo building just minutes away from New York City. Home features: an open concept living room and dining room, one bedroom studio, tons of closet space and a full bath. Maintenance fees which include heat, hot water, water and gas. Building features: elevator, full-service 24-hour doorman, additional parking available for lease, EV charging station, building security, professional mailing services, fitness center, community room, pet friendly and a laundry room. Conveniently located bordering Jersey City Heights and Weehawken. Be in the heart of all the shops, groceries stores, dog

Key facts

• 9,147 sq ft lot
• Built 1963
• Listed 46 days

Property features AI

Finance

• HOA & community: Monthly association fee (includes common area and exterior maintenance, snow removal)

Exterior

• Parking: Blacktop driveway; On-street parking
• Utilities: Electric service; Natural gas service; Public sewer; Cable TV available
• Home design: One-floor unit in a hi-rise; Located on the 5th floor
• Construction: Approximately built (year approximate)
• Exterior features: Brick exterior; See remarks for roof details

Interior

• Kitchen: Galley-style kitchen; Dishwasher; Gas range/oven; Refrigerator
• Bedrooms: One bedroom on the first floor
• Flooring: See remarks
• Bathrooms: One full bathroom
• Heating & cooling: Gas heating (1 unit); Wall A/C unit(s)
• Interior features: Carbon monoxide detector; Smoke detector; Community living
• Laundry & utility: See remarks for water source

🏷️ Possibly a rental listed for sale. The $325,000 price doesn't fit this home's estimated sale value (~$582,344) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (49.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (30.9% below list).
• Recommended offer: $164k (49.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#117 in NJ, #2,998 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: cost of living F.
• Union City School District (suburban): math 15% / reading 36% proficiency, ranked #399 of 472 in NJ (top 84%) — 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: Thomas A Edison Elementary School (math 7% / reading 25%, grade F, #1,104 of 1,303 statewide, top 85%, 839 students, 92% FRL); Emerson Middle School (math 15% / reading 40%, grade F, #340 of 431 statewide, top 80%, 1,001 students, 87% FRL); Union City High School (math 12% / reading 35%, grade F, #331 of 399 statewide, top 83%, 3,025 students, 83% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $163,717 (49.6% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 0.69% ✗
• Cap rate: 2.18%
• Cash-on-cash: -14.70%
• DSCR: 0.35
• GRM: 12.1

CMA / ARV

• ARV (median comp): $582,344
• List price: $325,000
• Delta: -44.19%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.65×
• Total profit: $-31,408
• Equity at exit: $146,134

10-year hold

• IRR: -0.8%
• Equity multiple: 0.87×
• Total profit: $-11,681
• Equity at exit: $225,210

Cash invested: $91,000 (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 07087-5300

• Active inventory: 1
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,247 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$644
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-1,115

Break-even live

Break-even rent $3,658

Max offer price $163,717

Occupancy floor —

Sensitivity live

Price	-10% $-890	-5% $-1,002	+0% $-1,115	+5% $-1,227	+10% $-1,339
Rent	-10% $-1,292	-5% $-1,203	+0% $-1,115	+5% $-1,026	+10% $-937
Rate	-1.0pp $-951	-0.5pp $-1,032	base $-1,115	+0.5pp $-1,199	+1.0pp $-1,284

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Central Ave Union City, NJ	1.0–2.0	1.0	932	$2,295	$2.46	4d	5	0.01mi
500 Central Ave Union City, NJ	1.0–2.0	1.0	944	$2,350	$2.49	45d	2	0.01mi
500 Central Ave Union City, NJ	1.0–2.0	1.0	932	$2,350	$2.52	18d	4	0.01mi
310 Paterson Plank Rd Unit 3B Union City, NJ	2.0	1.0	—	$2,300	—	45d	1	0.05mi
524 4th St Unit 12 Union City, NJ	2.0	1.0	—	$2,250	—	45d	1	0.08mi
524 4th St Unit 12 Union City, NJ	2.0	1.0	—	$2,100	—	22d	1	0.08mi
524 4th St Unit 10 Union City, NJ	2.0	1.0	—	$2,100	—	45d	1	0.08mi
710 6th St Unit 1 Union City, NJ	2.0	1.0	880	$2,450	$2.78	26d	1	0.09mi
710 6th St Unit 1 Union City, NJ	2.0	1.0	880	$2,450	$2.78	45d	1	0.09mi
712 6th St Unit 1R Union City, NJ	2.0	1.0	924	$2,850	$3.08	45d	1	0.10mi
514 4th St #3 Union City, NJ	1.0	1.0	—	$1,500	—	14d	1	0.10mi
401 Bergenline Ave #1 Union City, NJ	2.0	1.0	700	$2,000	$2.86	14d	1	0.14mi
503 Bergenline Ave Apt 2 Union City, NJ	1.0	1.0	—	$2,400	—	22d	1	0.14mi
50 Grace St Unit 2R Jersey City, NJ	2.0	2.0	900	$2,700	$3.00	26d	1	0.14mi
50 Grace St Jersey City, NJ	2.0	2.0	1000	$2,700	$2.70	20d	1	0.14mi
50 Grace St Unit 3 Jersey City, NJ	2.0	2.0	800	$2,700	$3.38	9d	1	0.14mi
1193 Summit Ave Jersey City, NJ	2.0	1.0	—	$2,195	—	26d	1	0.14mi
1191 Summit Ave Jersey City, NJ	2.0	1.0	—	$2,195	—	26d	1	0.14mi
605 Bergenline Ave #2 Union City, NJ	2.0	1.0	848	$2,700	$3.18	9d	1	0.16mi
509 7th St Unit 1 Union City, NJ	2.0	1.0	—	$2,500	—	23d	1	0.16mi
210 Bergenline Ave #8 Union City, NJ	1.0	1.0	—	$2,075	—	45d	1	0.18mi
416 6th St Unit 3 Union City, NJ	1.0	1.0	—	$1,700	—	45d	1	0.19mi
3695 John F. Kennedy Blvd Unit 31 Jersey City, NJ	1.0	1.0	3	$1,450	$483.33	9d	1	0.20mi
421 7th St Union City, NJ	2.0	2.0	1280	$3,350	$2.62	0d	1	0.20mi
810 West St Apt 2 Union City, NJ	1.0	1.0	—	$1,600	—	45d	1	0.21mi
801 Summit Ave Unit 2A Union City, NJ	2.0	2.0	1200	$2,550	$2.12	26d	1	0.22mi
3656 John F. Kennedy Blvd Unit 03 Jersey City, NJ	1.0	1.0	—	$1,775	—	26d	1	0.22mi
1153 Summit Ave Unit 3 Jersey City, NJ	2.0	1.0	—	$2,300	—	26d	1	0.22mi
609 New York Ave Unit 2L Union City, NJ	2.0	1.0	—	$2,075	—	7d	1	0.22mi
406 7th St Union City, NJ	1.0	1.0	800	$1,750	$2.19	14d	1	0.24mi
510 New York Ave Unit 2 Union City, NJ	1.0	1.0	800	$1,950	$2.44	26d	1	0.24mi
915 Central Ave Unit 1 Union City, NJ	2.0	1.0	—	$2,400	—	46d	1	0.24mi
508 9th St Unit 1F Union City, NJ	1.0	1.0	—	$1,700	—	45d	1	0.24mi
1138 Summit Ave #1 Jersey City, NJ	1.0	1.0	—	$1,999	—	26d	1	0.25mi
311 6th St Union City, NJ	2.0	1.0	—	$1,950	—	9d	2	0.27mi
309 6th St Unit E8 Union City, NJ	2.0	1.0	—	$1,950	—	45d	1	0.28mi
309 6th St Unit C6 Union City, NJ	2.0	1.0	—	$2,050	—	26d	1	0.28mi
316 2nd St Unit B Union City, NJ	—	1.0	700	$1,950	$2.79	6d	1	0.28mi
510 10th St Unit Ground 1 Union City, NJ	—	1.0	360	$1,600	$4.44	0d	1	0.28mi
809-811 New York Ave Unit E1 Union City, NJ	2.0	1.0	—	$2,000	—	23d	1	0.28mi

HOA detail condo

• Monthly dues: $644 · $7,728/yr
• Likely covers: watergasgymdoormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $325,000 Coming Soon 46 DOM
2. 2026-06-18
   days on market $325,000 Coming Soon 43 DOM
3. 2026-06-17
   days on market $325,000 Coming Soon 42 DOM
4. 2026-06-16
   days on market $325,000 Coming Soon 41 DOM
5. 2026-06-15
   days on market $325,000 Coming Soon 40 DOM
6. 2026-06-13
   days on market $325,000 Coming Soon 38 DOM
7. 2026-06-13
   days on market $325,000 Coming Soon 37 DOM
8. 2026-06-09
   days on market $325,000 Coming Soon 34 DOM
9. 2026-06-08
   days on market $325,000 Coming Soon 33 DOM
10. 2026-06-07
    days on market $325,000 Coming Soon 32 DOM
11. 2026-06-04
    days on market $325,000 Coming Soon 29 DOM
12. 2026-06-03
    days on market $325,000 Coming Soon 28 DOM
13. 2026-06-02
    days on market $325,000 Coming Soon 27 DOM
14. 2026-06-01
    days on market $325,000 Coming Soon 26 DOM
15. 2026-05-31
    days on market $325,000 Coming Soon 25 DOM
16. 2026-05-06
    historical $325,000 892-char remark
17. 2025-01-01
    price $2,800
18. 2024-12-12
    listed $2,875
19. 2022-06-22
    price $995
20. 2008-05-23
    soldstatus $351,000

ⓘ 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 ≥98°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,968
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,157
• − Management: −$2,157
• − HOA: −$7,728
• − Depreciation: −$9,455
• Taxable loss: −$19,234
• Est. tax savings @ 24.0%: +$4,616
• After-tax cash flow: $-8,759/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: Union City School District
• NCES district ID: 3416380
• Math proficiency: 15% ▼ -19.00%
• Reading proficiency: 36% ▼ -19.00%
• Median HH income: $41,210
• Composite: 21.55/100
• National rank: #8312
• State rank: #399 of 472 in NJ

Livability — Union City

• Score: 77/100
• State rank: #117
• US rank: #2998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Union City, NJ

Population outlook (Hudson County) Hauer SSP2

• Today (2025): 771,834 people
• By 2030: 818,028 · +6.0%
• By 2040: 907,866 · +17.6%
• By 2050: 994,480 · +28.8%
• By 2075: 1,163,301 · +50.7%
• By 2100: 1,254,703 · +62.6%

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

-7.4% since first listed

5 events — show timeline

• 2026-05-06 Coming Soon $325,000 GSMLS
• 2025-01-01 Price Changed $2,800 HCMLS
• 2024-12-12 Listed for Rent $2,875 HCMLS
• 2022-06-22 Price Changed $995 RENT.
• 2008-05-23 Sold (Public Records) $351,000 Public Records