616 Somerset St · New Brunswick, NJ 08901

$295,000

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 30 Days on market

Built 1917 2,701 sqft lot Est $335k · 12% 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 +18.8/30.0
• ARV discount +12.9/15.0
• DSCR +5.9/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Did you know that a three bedroom rental in New Brunswick is currently listing for $2,400 a month So with my assistance with mortgage financing and NJ First Time Buyer Programs. .you could probably buy this home for less money than it takes to rent. .my pictures are worth 1000 words. .This home is neat. .well kept. .. bright and cozy . .if you are an investor the tenant would like to stay. .

Key facts

• 2,701 sq ft lot
• 3 parking spots
• Built 1917

Property features AI

Finance

• Other: Garbage service included in tax
• HOA & community: Curbs and sidewalks maintained in the community

Exterior

• Parking: Open parking; Asphalt parking area that fits 3 cars deep
• Utilities: Public water; Public sewer; Electricity connected; Cable TV connected; Natural gas connected
• Home design: 1/2 duplex; Two levels; Exterior entry to full basement
• Construction: Slate roof; Built structure with total building area of 988 (unit not displayed in this section)
• Exterior features: Open porch; Porch; Curbs; Sidewalk; Fencing/wall; Yard; Insulated pane windows; Near shopping; Interior lot; Near public transit

Interior

• Kitchen: Galley-style kitchen; Gas range/oven
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Kitchen; Living room; Formal dining room; Attic; Insulated windows
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (4.0% below list).
• Recommended offer: $283k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.8% in New Brunswick — 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 75/100 on livability (#154 in NJ, #3,986 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, schools F, crime F.
• New Brunswick School District (urban): math 4% / reading 23% proficiency, ranked #463 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.9%/yr); 49 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,971 units permitted in Middlesex County in 2024 (1,193 in 5+ unit buildings).
• At $2,833/mo this rent would consume 52% of the median local household income ($66k/yr) (locally 4329% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Middlesex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $295k implies a 954% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $283,308 (4.0% below list)

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $334,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Lufberry Ave	0.19mi	3/1.5	950 (-4%)	1mo	$250,000	$263	82
53 Mitchell Ave	0.07mi	3/1.0	1,048 (+6%)	17mo	$355,000	$339	73
33 Lufberry Ave	0.16mi	3/1.0	950 (-4%)	19mo	$278,000	$293	70
27 Mitchell Ave	0.23mi	3/1.5	1,030 (+4%)	15mo	$295,000	$286	68
19-A Koolidge Ct	0.26mi	2/1.0 (-1)	885 (-10%)	6mo	$299,000	$338	60
142 Harrison St	0.68mi	3/2.0	958 (-3%)	4mo	$330,000	$344	56
303 Columbus Pl	0.63mi	3/1.5	972 (-2%)	16mo	$410,000	$422	53
30 Lafayette Ave	0.49mi	2/1.0 (-1)	1,064 (+8%)	10mo	$420,000	$395	52
3 Mitchell Ave	0.29mi	2/2.0 (-1)	1,080 (+9%)	20mo	$325,000	$301	46
330 Edpas Rd	0.43mi	2/1.0 (-1)	908 (-8%)	20mo	$300,000	$330	45
115 Frank St	0.69mi	3/2.0	840 (-15%)	3mo	$510,000	$607	36
24 Cogswell Pl	0.64mi	4/2.0 (+1)	1,040 (+5%)	20mo	$420,000	$404	36

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 · 3.87% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-26,562
• Equity at exit: $43,985

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $11,405
• Equity at exit: $25,506

Cash invested: $82,600 (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 08901

• Home prices YoY: -33.2%
• Rents YoY: 3.9%
• Active inventory: 49
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,833 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$274 /mo · $3,285/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $294

Break-even live

Break-even rent $2,460

Max offer price $295,000

Occupancy floor 85%

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 Edpas Rd New Brunswick, NJ	2.0	1.0	908	$2,150	$2.37	7d	1	0.42mi
518 Edpas Rd New Brunswick, NJ	2.0	1.0	908	$1,800	$1.98	3d	1	0.44mi
937 Edpas Rd Unit 1 New Brunswick, NJ	2.0	1.0	908	$2,275	$2.51	2d	1	0.52mi
213 French St Apt 6 New Brunswick, NJ	3.0	1.0	862	$2,895	$3.36	24d	1	0.69mi
265 Franklin Blvd Somerset, NJ	2.0–3.0	1.0	860	$2,950	$3.43	17d	10	0.90mi
79 Renaissance Ln New Brunswick, NJ	2.0	1.5	1067	$2,800	$2.62	16d	1	1.04mi
186 Comstock St New Brunswick, NJ	2.0	1.0	1000	$2,200	$2.20	24d	1	1.06mi
44 Courtlandt St New Brunswick, NJ	3.0	1.0–2.0	930	$4,795	$5.16	1d	1	1.08mi
28 Renaissance Ln New Brunswick, NJ	2.0	1.5	1087	$2,500	$2.30	16d	1	1.10mi
55 Morrell St New Brunswick, NJ	2.0	1.0	503	$2,500	$4.97	24d	2	1.33mi
55 Morrell St New Brunswick, NJ	2.0	1.0	558	$2,600	$4.66	19d	1	1.33mi
60 Paterson St New Brunswick, NJ	1.0–2.0	1.0–1.5	974	$2,985	$3.06	1d	1	1.36mi
110 Somerset St New Brunswick, NJ	1.0–2.0	1.0–2.0	912	$4,433	$4.86	1d	20	1.39mi
39 Throop Ave Unit 3 New Brunswick, NJ	2.0	1.0	1000	$2,400	$2.40	24d	1	1.40mi
7 Livingston Ave New Brunswick, NJ	2.0	1.0–2.0	664	$3,830	$5.77	1d	18	1.41mi
285 George St New Brunswick, NJ	1.0–2.0	1.0–2.0	842	$3,174	$3.77	1d	7	1.43mi
385 George St Unit 2B New Brunswick, NJ	2.0	1.0	1037	$2,650	$2.56	24d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $295,000 Active 30 DOM
2. 2026-06-17
   days on market $295,000 Active 29 DOM
3. 2026-06-16
   days on market $295,000 Active 28 DOM
4. 2026-06-15
   days on market $295,000 Active 27 DOM
5. 2026-06-13
   days on market $295,000 Active 25 DOM
6. 2026-06-13
   days on market $295,000 Active 24 DOM
7. 2026-06-09
   days on market $295,000 Active 21 DOM
8. 2026-06-08
   days on market $295,000 Active 20 DOM
9. 2026-06-07
   days on market $295,000 Active 19 DOM
10. 2026-06-04
    days on market $295,000 Active 16 DOM
11. 2026-06-03
    days on market $295,000 Active 15 DOM
12. 2026-06-02
    days on market $295,000 Active 14 DOM
13. 2026-06-01
    days on market $295,000 Active 13 DOM
14. 2026-05-31
    days on market $295,000 Active 12 DOM
15. 2026-05-18
    listed $295,000 Active
16. 1999-08-03
    soldstatus $28,000

ⓘ 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: $3,285 · $274/mo
• Projected year-2 tax: $5,315 · $443/mo
• Expected delta: +$2,030/yr (+$169/mo · 61.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥101°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,997
• − Mortgage interest: −$16,525
• − Property taxes: −$3,285
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,720
• − Management: −$2,720
• − Depreciation: −$8,582
• Taxable loss: −$1,309
• Est. tax savings @ 24.0%: +$314
• After-tax cash flow: $3,848/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: New Brunswick School District
• NCES district ID: 3411220
• Math proficiency: 4% ▼ -15.00%
• Reading proficiency: 23% ▼ -9.00%
• Median HH income: $40,376
• Composite: 11.53/100
• National rank: #9700
• State rank: #463 of 472 in NJ

Livability — New Brunswick

• Score: 75/100
• State rank: #154
• US rank: #3986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Brunswick, NJ
• County: Middlesex County · 714,427 people
• City population: 57,263
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 57,263
• Household income: $65,810
• Rent vs Own: 78.6% rent · 21.4% own
• Severe rent burden: 4329.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 901,713 people
• By 2030: 930,661 · +3.2%
• By 2040: 986,276 · +9.4%
• By 2050: 1,038,920 · +15.2%
• By 2075: 1,159,418 · +28.6%
• By 2100: 1,221,973 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 50% White 26% Black 12% Two or more races 10% Asian 9% Native American 7%
• Hispanic origin (detail): Mexican 21% Puerto Rican 4% Dominican 10%
• Common ancestry: Romanian 1%
• Foreign-born: 36% · Canada, China, Jamaica
• Languages at home: 44% English-only · Spanish 46% Chinese 3% Other Indo-European 2%

Political lean MEDSL · Middlesex

• 2024 margin: Lean D (+8.0) · D 52.5% · R 44.5% · Other 3.0%
• 2008→2024 swing: -13.8pp toward R · 2008: 21.8pp · 2024: 8.0pp
• All cycles: 2024: D+8.0 2020: D+22.0 2016: D+19.8 2012: D+27.0 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -147.76%
• Current HPI: 297.8885
• Rent YoY: ▲ 3.87%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+953.6% since first listed

2 events — show timeline

• 2026-05-18 Listed $295,000 CJMLS
• 1999-08-03 Sold (Public Records) $28,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $3,285 · +2.6% YoY. Source: county tax records.