324 E Broadway · Salem, NJ 08079

$175,000

4 bd · 3.0 ba · 2,520 sqft · SingleFamily public records · 10 Days on market

Built 1809 6,599 sqft lot Est $232k · 25% 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 +21.1/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +6.7/10.0
• 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

Key facts

• 6,599 sq ft lot
• Garage
• Built 1809

Property features AI

Exterior

• Parking: Detached front-entry garage (1 car); Driveway; On-street parking
• Utilities: Public sewer; Private/community water
• Home design: Detached property; Above-grade finished living area recorded
• Construction: Frame construction; Brick/mortar foundation; Above- and below-grade structures
• Exterior features: Lot dimensions approximately 40 x 165; Not in a federal flood zone; Pets allowed (dogs and cats OK)

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Three bedrooms on the upper level; One bedroom on the main level
• Bathrooms: Three full bathrooms (two full baths on upper level, one full bath on main level)
• Heating & cooling: Baseboard hot water heating; Window cooling units (electric)
• Interior features: Living room; Dining room; Office; Attic; Full basement; Two fireplaces
• Laundry & utility: Hot water: Electric

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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; 1 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,179/mo this rent would consume 48% of the median local household income ($55k/yr) (locally 663% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $545 of equity ($1k loan paydown + $-665 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 $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 15y 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 $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1809 — 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 $175,000

Questions for the listing agent

1. Built in 1809 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.25% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $231,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Olive St	0.12mi	3/2.0 (-1)	2,529 (+0%)	16mo	$133,000	$53	71
63 Seventh St	0.53mi	4/2.5	2,441 (-3%)	0mo	$104,000	$43	68
10 Davis Ave	0.25mi	5/2.0 (+1)	2,685 (+6%)	4mo	$249,999	$93	65
349 E Broadway	0.06mi	5/2.0 (+1)	2,348 (-7%)	16mo	$65,000	$28	64
26 Olive St	0.13mi	4/1.0	2,164 (-14%)	3mo	$200,000	$92	60
337 Craven Ave	0.10mi	5/2.0 (+1)	2,205 (-12%)	9mo	$306,000	$139	58
154 Seventh St	0.35mi	4/2.0	2,692 (+7%)	12mo	$45,000	$17	58
35 Walnut St	0.29mi	4/1.5	2,278 (-10%)	9mo	$180,000	$79	57
49 Market St	0.57mi	5/2.5 (+1)	2,459 (-2%)	10mo	$247,000	$100	54
61 Eighth St	0.53mi	4/2.5	2,344 (-7%)	11mo	$230,000	$98	53
168 Cook Ave	0.67mi	4/3.0	2,720 (+8%)	9mo	$275,000	$101	48
56 New Market St	0.34mi	4/1.5	2,240 (-11%)	15mo	$50,000	$22	47

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: 3.4%
• Equity multiple: 1.16×
• Total profit: $7,797
• Equity at exit: $47,513

10-year hold

• IRR: 9.3%
• Equity multiple: 1.97×
• Total profit: $47,471
• Equity at exit: $54,541

Cash invested: $49,000 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,179 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$482 /mo · $5,789/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $248

Break-even live

Break-even rent $1,865

Max offer price $175,000

Occupancy floor 84%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 E Broadway Salem, NJ	3.0	2.0	1844	$1,980	$1.07	43d	1	0.01mi

Listing history 19 events

1. 2026-05-15
   status Pending
2. 2026-05-04
   listed $175,000 Active
3. 2025-09-30
   historical
4. 2025-02-23
   listed $185,000 Active
5. 2025-01-31
   historical
6. 2025-01-25
   price $185,000
7. 2024-09-17
   status Active
8. 2024-08-28
   status Pending
9. 2024-05-08
   listed $210,000 Active
10. 2012-05-03
    soldstatus $75,000
11. 2012-04-13
    soldstatus $36,500
12. 2012-04-13
    soldstatus $36,500 Sold
13. 2012-03-15
    status Under Contract
14. 2012-03-15
    historical
15. 2012-03-02
    historical
16. 2012-02-29
    historical
17. 2011-09-26
    listed $45,900
18. 2011-09-26
    status Active
19. 2011-09-26
    listed $45,900 Active

ⓘ 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: $5,789 · $482/mo
• Projected year-2 tax: $5,789 · $482/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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: $26,150
• − Mortgage interest: −$9,803
• − Property taxes: −$5,789
• − Insurance: −$875
• − Repairs & maintenance: −$2,092
• − Management: −$2,092
• − Depreciation: −$5,091
• Taxable income: $408
• Est. tax owed @ 24.0%: −$98
• After-tax cash flow: $2,884/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

+281.3% since first listed

19 events — show timeline

• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-04 Listed $175,000 BRIGHT MLS
• 2025-09-30 Listing Removed — BRIGHT MLS
• 2025-02-23 Listed $185,000 BRIGHT MLS
• 2025-01-31 Listing Removed — BRIGHT MLS
• 2025-01-25 Price Changed $185,000 BRIGHT MLS
• 2024-09-17 Relisted — BRIGHT MLS
• 2024-08-28 Pending — BRIGHT MLS
• 2024-05-08 Listed $210,000 BRIGHT MLS
• 2012-05-03 Sold (Public Records) $75,000 Public Records
• 2012-04-13 Sold (MLS) $36,500 TREND
• 2012-04-13 Sold (MLS) $36,500 BRIGHT MLS
• 2012-03-15 Pending — TREND
• 2012-03-15 Delisted — TREND
• 2012-03-02 Listing Removed — BRIGHT MLS
• 2012-02-29 Delisted — TREND
• 2011-09-26 Listed $45,900 TREND
• 2011-09-26 Relisted — TREND
• 2011-09-26 Listed $45,900 BRIGHT MLS

Property tax history

+0.3%/yr

Latest (2025): $5,789 · +4.9% YoY. Source: county tax records.