327 Walnut Ave · Trenton, NJ 08609

$219,000

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 390 Days on market

Built 1891 2,052 sqft lot Est $311k · 30% 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks, This well-maintained 3 bedroom 1 Bath home will not disappoint. This home features a large living room with crown molding 9-foot ceilings and plenty of room to entertain family and friends. You will fall in love with the custom eat-in kitchen with built-in dishwasher tumbled marble flooring, granite countertops, Gas cooktop, and stainless steel appliances. Pride of ownership shows throughout the home and the owner has done many upgrades. The Tastefully decorated bathroom features marble flooring, a separate makeup counter, a Jacuzzi soaking tub, and a separate stand-up shower. The Main bedroom and second bedroom feature gleaming hardwood floors and plenty of closet space

Key facts

• 2 parking spots
• Built 1891
• Listed 390 days

Property features AI

Exterior

• Parking: Two total garage/parking spaces; Driveway with two spaces; Off-street parking on a concrete driveway
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Above-grade finished living area reported (per assessor)
• Construction: Brick construction; Block foundation; Other structures above grade and below grade
• Exterior features: Lot dimensions approximately 16.40 x 125.00; Not in a federal flood zone

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two bedrooms on the first upper level; One bedroom on the second upper level; Room list includes: Living Room, Master Bedroom, Bedroom 2, Bedroom 3, Kitchen
• Bathrooms: One full bathroom (located on the first upper level)
• Heating & cooling: Hot water baseboard heating; Natural gas heating and hot water; 150 Amp electric service
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 6.3% 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: 33 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 39% of the median local income ($68k/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 $2k of loan paydown is wiped out by about $7k 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 390 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y ago; this cycle's ask has dropped $21k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $219k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 390 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 1891 — 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 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?
6. 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?
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 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: 1.01% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $310,880
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Tioga St	0.16mi	4/1.5 (+1)	1,127 (-3%)	2mo	$298,000	$264	79
872 Revere Ave	0.58mi	3/1.0	1,200 (+3%)	8mo	$293,000	$244	60
861 Lyndale Ave	0.60mi	3/1.0	1,046 (-10%)	20mo	$280,000	$268	39
1008 Quinton Ave	0.72mi	3/2.0	1,192 (+3%)	24mo	$300,000	$252	38
194 Atlantic Ave	0.67mi	4/2.0 (+1)	1,008 (-13%)	3mo	$390,000	$387	36
212 Atlantic Ave	0.67mi	4/2.0 (+1)	1,248 (+8%)	14mo	$400,000	$321	36
775 Chambers St	0.64mi	4/1.0 (+1)	1,028 (-11%)	17mo	$185,000	$180	32
320 Atlantic Ave	0.71mi	3/1.0	1,016 (-12%)	19mo	$310,000	$305	30
218 Atlantic Ave	0.67mi	4/1.0 (+1)	1,008 (-13%)	20mo	$350,000	$347	25
472-476 S Logan Ave	0.71mi	2/1.5 (-1)	1,024 (-12%)	22mo	$235,000	$229	22

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-12,316
• Equity at exit: $32,654

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $18,990
• Equity at exit: $18,935

Cash invested: $61,320 (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 08609

• Home prices YoY: -29.3%
• Active inventory: 33
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,218 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$148 /mo · $1,779/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $364

Break-even live

Break-even rent $1,757

Max offer price $219,000

Occupancy floor 79%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
339 Tioga St #339 Trenton, NJ	2.0	1.0	864	$1,850	$2.14	21d	1	0.09mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.10mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	0.13mi
105 Walnut Ave Unit 1 Trenton, NJ	2.0	1.0	1200	$2,000	$1.67	21d	1	0.29mi
1163 E State St Unit 9 Trenton, NJ	2.0	1.0	775	$1,770	$2.28	21d	1	0.33mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	14d	1	0.33mi
720 Monmouth St Unit 204 Trenton, NJ	2.0	1.0	1011	$1,750	$1.73	21d	1	0.41mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	14d	1	0.45mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	14d	1	0.47mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	0.50mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	14d	1	0.57mi
428 Cleveland Ave Trenton, NJ	4.0	2.0	1400	$2,500	$1.79	21d	1	0.65mi
176 Division St Apt 106 Trenton, NJ	2.0	1.0	975	$1,700	$1.74	21d	1	0.74mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	14d	1	0.78mi
340 Connecticut Ave Unit 1 Hamilton Township, NJ	2.0	1.0	1000	$2,500	$2.50	14d	1	0.78mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	0.91mi
216 E State St Trenton, NJ	1.0–2.0	1.0	811	$1,895	$2.34	14d	2	0.91mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	0.92mi
71 Clark St Trenton, NJ	1.0–2.0	1.0–2.0	975	$2,350	$2.41	14d	4	0.93mi
77 Race St Trenton, NJ	2.0	1.0	950	$1,700	$1.79	21d	1	0.95mi
202 E Hanover St Unit 5G Trenton, NJ	2.0	1.0	750	$1,200	$1.60	21d	1	0.96mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	1.04mi
705 Anderson St Trenton, NJ	3.0	1.0	1132	$1,800	$1.59	14d	1	1.04mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	21d	1	1.07mi
203 Genesee St Unit 2 Trenton, NJ	2.0	1.0	1452	$1,700	$1.17	21d	1	1.09mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	14d	1	1.14mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	14d	1	1.15mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	14d	1	1.17mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	14d	1	1.17mi
1103 Division St Trenton, NJ	4.0	1.0	1296	$2,000	$1.54	21d	1	1.20mi
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	14d	1	1.21mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	1.23mi
1474 Nottingham Way Hamilton Township, NJ	1.0–2.0	1.0	775	$2,195	$2.83	21d	1	1.29mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	14d	1	1.29mi
837 Genesee St Trenton, NJ	2.0	1.0	850	$1,700	$2.00	21d	1	1.32mi
225 Home Ave Trenton, NJ	2.0	1.0	800	$1,750	$2.19	21d	1	1.33mi
8 Belvidere St Trenton, NJ	2.0	1.0	1260	$1,900	$1.51	21d	1	1.33mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	14d	1	1.33mi
313 Home Ave Trenton, NJ	3.0	1.0	1112	$2,100	$1.89	14d	1	1.40mi
1049 Genesee St Trenton, NJ	3.0	1.0	1270	$2,300	$1.81	21d	1	1.42mi

Listing history 37 events

1. 2026-04-24
   status Pending
2. 2026-04-22
   historical Active Under Contract
3. 2026-02-10
   price $219,000
4. 2025-12-09
   price $229,000
5. 2025-10-07
   price $237,500
6. 2025-08-18
   price $245,000
7. 2025-08-18
   status Active
8. 2024-11-05
   status Pending
9. 2024-11-05
   historical
10. 2024-10-31
    historical Active Under Contract
11. 2024-08-07
    status Active
12. 2024-07-03
    status Pending
13. 2024-07-02
    historical Active Under Contract
14. 2024-06-18
    status Active
15. 2024-06-16
    historical Active Under Contract
16. 2024-05-29
    price $219,500
17. 2024-05-03
    listed $239,900 Active
18. 2018-11-10
    historical
19. 2018-10-24
    status Active
20. 2018-10-07
    status Pending
21. 2018-09-29
    status Pending
22. 2018-09-15
    historical Active Under Contract
23. 2018-08-20
    price $47,500
24. 2018-06-15
    listed $50,000 Active
25. 2012-05-29
    historical
26. 2011-07-11
    listed $31,000
27. 2011-03-31
    historical
28. 2010-09-06
    listed $44,000
29. 2006-01-03
    historical
30. 2005-09-20
    listed $132,000
31. 2005-09-15
    soldstatus $120,000
32. 2005-09-15
    soldstatus $120,000
33. 2005-02-07
    soldstatus $92,000
34. 2004-01-23
    soldstatus $31,900
35. 2003-11-19
    historical
36. 2003-10-21
    listed $31,900
37. 1995-05-03
    soldstatus $9,500

ⓘ 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: $1,779 · $148/mo
• Projected year-2 tax: $3,616 · $301/mo
• Expected delta: +$1,837/yr (+$153/mo · 103.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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: $26,619
• − Mortgage interest: −$12,267
• − Property taxes: −$1,779
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,130
• − Management: −$2,130
• − Depreciation: −$6,371
• Taxable income: $848
• Est. tax owed @ 24.0%: −$204
• After-tax cash flow: $4,170/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): 15,938
• Household income: $68,238
• Rent vs Own: 70.2% rent · 29.8% own
• Severe rent burden: 930.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 45% Black 43% Two or more races 12% White 8% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 11%
• Common ancestry: Hispanic 5% Swiss 2% Estonian 1%
• Foreign-born: 32% · Canada, Guatemala, China
• Languages at home: 51% English-only · Spanish 41% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -114.12%
• Current HPI: 275.8566
• Rent YoY: —
• 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

+2205.3% since first listed

37 events — show timeline

• 2026-04-24 Pending — BRIGHT MLS
• 2026-04-22 Contingent — BRIGHT MLS
• 2026-02-10 Price Changed $219,000 BRIGHT MLS
• 2025-12-09 Price Changed $229,000 BRIGHT MLS
• 2025-10-07 Price Changed $237,500 BRIGHT MLS
• 2025-08-18 Price Changed $245,000 BRIGHT MLS
• 2025-08-18 Relisted — BRIGHT MLS
• 2024-11-05 Pending — BRIGHT MLS
• 2024-11-05 Listing Removed — BRIGHT MLS
• 2024-10-31 Contingent — BRIGHT MLS
• 2024-08-07 Relisted — BRIGHT MLS
• 2024-07-03 Pending — BRIGHT MLS
• 2024-07-02 Contingent — BRIGHT MLS
• 2024-06-18 Relisted — BRIGHT MLS
• 2024-06-16 Contingent — BRIGHT MLS
• 2024-05-29 Price Changed $219,500 BRIGHT MLS
• 2024-05-03 Listed $239,900 BRIGHT MLS
• 2018-11-10 Listing Removed — BRIGHT MLS
• 2018-10-24 Relisted — BRIGHT MLS
• 2018-10-07 Pending — BRIGHT MLS
• 2018-09-29 Pending — BRIGHT MLS
• 2018-09-15 Contingent — BRIGHT MLS
• 2018-08-20 Price Changed $47,500 BRIGHT MLS
• 2018-06-15 Listed $50,000 BRIGHT MLS
• 2012-05-29 Listing Removed — BRIGHT MLS
• 2011-07-11 Listed $31,000 BRIGHT MLS
• 2011-03-31 Listing Removed — BRIGHT MLS
• 2010-09-06 Listed $44,000 BRIGHT MLS
• 2006-01-03 Listing Removed — BRIGHT MLS
• 2005-09-20 Listed $132,000 BRIGHT MLS
• 2005-09-15 Sold (Public Records) $120,000 Public Records
• 2005-09-15 Sold (Public Records) $120,000 Public Records
• 2005-02-07 Sold (Public Records) $92,000 Public Records
• 2004-01-23 Sold (MLS) $31,900 BRIGHT MLS
• 2003-11-19 Listing Removed — BRIGHT MLS
• 2003-10-21 Listed $31,900 BRIGHT MLS
• 1995-05-03 Sold (Public Records) $9,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,779 · +6.1% YoY. Source: county tax records.