724 Putnam Ave · Trenton, NJ 08648

$310,000

4 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 1 Days on market

Built 1956 7,500 sqft lot Est $417k · 26% under

---

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
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this 4 bedroom, 1 bath home. Dining room is neutral & includes upgraded light, hardwood floors, wainscotting and pantry area. Family room offers built-in bookcases, 2 year young double hung windows & 18' bay window, wood fireplace w/ blowers, newer doors, mantle & stone around. Living room is neutral. 4th bedroom/den completes the first floor. Upstairs includes 3 bedrooms and full bath with oak cabinets and tile around the sink. The outside is nicely landscaped. Extra features include: One car detached garage with loft and vinyl siding. Double pane tilt in windows throughout with 25 year warranty. House and garage have a maintenance free exterior.

Key facts

• 7,500 sq ft lot
• Garage
• Built 1956

Property features AI

Exterior

• Parking: Detached garage with one garage space; Driveway parking; Garage door opener
• Utilities: Public water; Public sewer; 200+ amp electric service; Natural gas for heating and hot water
• Home design: Detached single-family home; Pitched shingle roof; Facing direction not specified; Good property condition; Fee simple ownership
• Construction: Vinyl siding exterior; Brick/mortar foundation; Built year source: Assessor
• Exterior features: Patio(s); Sidewalks; Street lights; Exterior lighting; Front yard; Rear yard

Interior

• Kitchen: Self-cleaning oven; Dishwasher
• Bedrooms: Three bedrooms on the upper level; One bedroom on the main level
• Flooring: Wood flooring; Fully carpeted areas
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Butler's pantry; Ceiling fan(s); Eat-in kitchen; Living room, dining room and family room included among the rooms; Full basement with outside entrance; One fireplace
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $44 ($533/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 (8.8% below list).
• Recommended offer: $283k (8.8% below list) — sets the bar for 1% rule.

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: crime F, employment F.
• Lawrence Township Public School District (suburban): math 24% / reading 52% proficiency, ranked #217 of 472 in NJ (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Slackwood Elementary School (math 24% / reading 34%, grade F, #731 of 1,303 statewide, top 59%, 238 students, 49% FRL); Lawrence Middle School (math 22% / reading 61%, grade F, #182 of 431 statewide, top 43%, 549 students, 30% FRL); Lawrence High School (math 26% / reading 63%, grade F, #149 of 399 statewide, top 40%, 1,207 students, 32% FRL) — zoned schools average 37% FRL vs 17% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.0%/yr); 121 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).

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.
• Mercer County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $74k; list at $310k implies a 316% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $282,805 (8.8% below list)

Questions for the listing agent

1. Built in 1956 — 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. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $416,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
747 Putnam Ave	0.06mi	3/1.0 (-1)	1,374 (+2%)	14mo	$380,000	$277	77
767 Bunker Hill Ave	0.48mi	4/1.0	1,372 (+2%)	6mo	$425,000	$310	69
70 Sixth Ave	0.45mi	4/1.0	1,310 (-2%)	12mo	$410,000	$313	64
19 Graf Ave	0.36mi	3/2.0 (-1)	1,410 (+5%)	6mo	$449,000	$318	61
1588 Brunswick Ave	0.26mi	3/1.0 (-1)	1,268 (-6%)	15mo	$380,000	$300	61
140 Slack Ave	0.38mi	4/1.0	1,260 (-6%)	19mo	$365,000	$290	56
83 Helen Ave	0.58mi	4/2.0	1,281 (-5%)	7mo	$399,900	$312	55
844 Bunker Hill Ave	0.57mi	3/2.0 (-1)	1,350 (+0%)	12mo	$435,000	$322	54
2102 Princeton Pike	0.40mi	4/1.0	1,178 (-12%)	9mo	$349,500	$297	54
929 Lanning Ave	0.57mi	3/1.0 (-1)	1,248 (-7%)	8mo	$400,000	$321	50
710 Nathan Hale	0.66mi	4/1.5	1,284 (-4%)	15mo	$355,000	$276	48
709 Mulberry St S	0.65mi	3/2.0 (-1)	1,240 (-8%)	8mo	$285,000	$230	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.36×
• Total profit: $-55,622
• Equity at exit: $46,222

10-year hold

• IRR: -19.1%
• Equity multiple: 0.12×
• Total profit: $-76,531
• Equity at exit: $26,803

Cash invested: $86,800 (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 08648

• Rents YoY: -0.0%
• Active inventory: 121
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,828 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$435 /mo · $5,219/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $44

Break-even live

Break-even rent $2,772

Max offer price $310,000

Occupancy floor 93%

Sensitivity live

Price	-10% $220	-5% $132	+0% $44	+5% $-43	+10% $-131
Rent	-10% $-179	-5% $-67	+0% $44	+5% $156	+10% $268
Rate	-1.0pp $201	-0.5pp $123	base $44	+0.5pp $-36	+1.0pp $-118

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	15d	1	0.55mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	23d	1	0.67mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	23d	1	0.89mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	15d	1	0.92mi
21 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,000	$1.56	15d	1	0.92mi
25 Adella Ave Trenton, NJ	3.0	1.0	1280	$2,050	$1.60	15d	1	0.93mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	15d	1	1.15mi
255 Hollywood Dr Trenton, NJ	4.0	1.0	1650	$2,950	$1.79	23d	1	1.20mi
8 Joan Ter Trenton, NJ	3.0	2.0	1397	$3,250	$2.33	23d	1	1.27mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	15d	1	1.39mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	15d	1	1.43mi
340 Connecticut Ave Unit 2 Hamilton Township, NJ	3.0	1.0	1400	$2,850	$2.04	15d	1	1.45mi

Listing history 2 events

1. 2026-06-02
   remarks 677-char remark
2. 2026-06-02
   listed $310,000 Pending 1 DOM

ⓘ 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: $5,219 · $435/mo
• Projected year-2 tax: $6,469 · $539/mo
• Expected delta: +$1,250/yr (+$104/mo · 23.9%)

ⓘ 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 6/10 Major 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,937
• − Mortgage interest: −$17,365
• − Property taxes: −$5,219
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,715
• − Management: −$2,715
• − Depreciation: −$9,018
• Taxable loss: −$4,645
• Est. tax savings @ 24.0%: +$1,115
• After-tax cash flow: $1,648/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: Lawrence Township Public School District
• NCES district ID: 3408400
• Math proficiency: 24% ▼ -20.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $89,210
• Composite: 36.47/100
• National rank: #4661
• State rank: #217 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

• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 31,323
• Household income: $125,514
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 724.0

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 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 16% Asian 14% Black 12% Two or more races 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 10% Scotch-Irish 2% Italian 1%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 66% English-only · Spanish 12% Other Indo-European 6% Russian/Polish/Slavic 6%

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: ▼ -323.66%
• Current HPI: 260.9615
• Rent YoY: ▬ -0.01%
• 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

+316.1% since first listed

5 events — show timeline

• 2026-06-01 Pending — BRIGHT MLS
• 2026-06-01 Listed $310,000 BRIGHT MLS
• 2006-08-16 Listing Removed — BRIGHT MLS
• 2006-06-22 Listed $325,000 BRIGHT MLS
• 1984-11-01 Sold (Public Records) $74,500 Public Records

Property tax history

+3.2%/yr

Latest (2025): $5,219 · +2.2% YoY. Source: county tax records.