1011 SUMMIT Ave · Union City, NJ 07087

$899,000

9 bd · 5.4 ba · — sqft · MultiFamily · 81 Days on market

---

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 +14.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Excellent investment opportunity on Summit Ave in Union City featuring 3 apartments plus ground-level commercial space. Prime location just 5 miles from Manhattan, one bus stop to Port Authority, and minutes to the PATH train. High-demand rental area with exceptional transit access, strong income potential, and long-term appreciation. Ideal for investors seeking a mixed-use asset in the heart of Hudson County.

Key facts

• Prime location
• Listed 81 days

Tags

• GROUND-LEVEL COMMERCIAL SPACE
• PRIME LOCATION
• HIGH-DEMAND RENTAL AREA
• EXCEPTIONAL TRANSIT ACCESS
• STRONG INCOME POTENTIAL
• LONG-TERM APPRECIATION

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.8-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive. Per door: $89/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $820k (8.8% below list).
• Recommended offer: $820k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.3% in Union City — 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 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.
• Market conditions: Rents flat; 226 active listings in the ZIP; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• At $8,201/mo this rent would consume 153% of the median local household income ($64k/yr) (locally 6042% 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 $96k of equity ($6k loan paydown + $90k appreciation (10.0% local appreciation)).
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.9% rent growth), your $252k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$155k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($845k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $820,100 (8.8% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 11TH St	0.15mi	9/3.5	—	6mo	$995,000	—	68
1111 6TH St	0.22mi	10/4.5 (+1)	—	0mo	$940,000	—	68
419 16TH St	0.40mi	10/5.0 (+1)	—	6mo	$900,000	—	57
103 POPLAR St	0.48mi	8/7.0 (-1)	—	6mo	$1,999,999	—	49
300-302 BERGENLINE Ave	0.43mi	8/4.0 (-1)	—	10mo	$1,300,000	—	48
2105 NEW YORK Ave	0.65mi	9/4.0	—	5mo	$942,500	—	47
308 18TH St	0.56mi	8/5.0 (-1)	—	11mo	$1,400,000	—	46
2211 NEW YORK Ave	0.70mi	9/4.0	—	4mo	$960,000	—	46
811 24TH St	0.70mi	10/6.0 (+1)	—	2mo	$948,000	—	45
313 18TH St	0.53mi	8/3.0 (-1)	—	5mo	$999,000	—	44
315 22ND St	0.69mi	8/4.0 (-1)	—	1mo	$1,150,000	—	44
116 BLEECKER St	0.75mi	8/5.0 (-1)	—	4mo	$1,430,000	—	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.95×
• Total profit: $489,632
• Equity at exit: $809,890

10-year hold

• IRR: 21.1%
• Equity multiple: 6.55×
• Total profit: $1,397,104
• Equity at exit: $1,746,559

Cash invested: $251,720 (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

• Home prices YoY: 9.6%
• Rents YoY: 0.9%
• Active inventory: 226
• Price-to-rent: 27.4×

Monthly cashflow live

• Estimated rent: $8,201 high
• Mortgage (P&I): −$4,714
• Tax est. 1.5%: −$1,124 /mo · $13,485/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,722
• Net cashflow: $266

Break-even live

Break-even rent $7,864

Max offer price $899,000

Occupancy floor 92%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.8	$8,202
Total (3 units)			$8,201

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-11
   status Under Contract
2. 2026-02-25
   historical Active Under Contract 413-char remark

   Show marketing remark (413 chars)

   Excellent investment opportunity on Summit Ave in Union City featuring 3 apartments plus ground-level commercial space. Prime location just 5 miles from Manhattan, one bus stop to Port Authority, and minutes to the PATH train. High-demand rental area with exceptional transit access, strong income potential, and long-term appreciation. Ideal for investors seeking a mixed-use asset in the heart of Hudson County.

3. 2026-02-25
   status Active 413-char remark

   Show marketing remark (413 chars)

   Excellent investment opportunity on Summit Ave in Union City featuring 3 apartments plus ground-level commercial space. Prime location just 5 miles from Manhattan, one bus stop to Port Authority, and minutes to the PATH train. High-demand rental area with exceptional transit access, strong income potential, and long-term appreciation. Ideal for investors seeking a mixed-use asset in the heart of Hudson County.

4. 2026-02-17
   status Under Contract 413-char remark

   Show marketing remark (413 chars)

   Excellent investment opportunity on Summit Ave in Union City featuring 3 apartments plus ground-level commercial space. Prime location just 5 miles from Manhattan, one bus stop to Port Authority, and minutes to the PATH train. High-demand rental area with exceptional transit access, strong income potential, and long-term appreciation. Ideal for investors seeking a mixed-use asset in the heart of Hudson County.

5. 2025-12-15
   listed $899,000 Active 413-char remark

   Show marketing remark (413 chars)

   Excellent investment opportunity on Summit Ave in Union City featuring 3 apartments plus ground-level commercial space. Prime location just 5 miles from Manhattan, one bus stop to Port Authority, and minutes to the PATH train. High-demand rental area with exceptional transit access, strong income potential, and long-term appreciation. Ideal for investors seeking a mixed-use asset in the heart of Hudson County.

6. 2025-12-15
   listed $899,000 Active 413-char remark

   Show marketing remark (413 chars)

   Excellent investment opportunity on Summit Ave in Union City featuring 3 apartments plus ground-level commercial space. Prime location just 5 miles from Manhattan, one bus stop to Port Authority, and minutes to the PATH train. High-demand rental area with exceptional transit access, strong income potential, and long-term appreciation. Ideal for investors seeking a mixed-use asset in the heart of Hudson County.

7. 2025-12-14
   listed $899,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $98,412
• − Mortgage interest: −$50,358
• − Property taxes: −$13,485
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,873
• − Management: −$7,873
• − Depreciation: −$26,153
• Taxable loss: −$11,825
• Est. tax savings @ 24.0%: +$2,838
• After-tax cash flow: $6,030/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
• County: Hudson County · 718,323 people
• City population: 66,463
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 66,463
• Household income: $64,310
• Rent vs Own: 80.9% rent · 19.1% own
• Severe rent burden: 6042.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 28% White 10% Asian 4% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 8% Cuban 9% Dominican 17%
• Foreign-born: 55% · Canada, Jamaica, China
• Languages at home: 18% English-only · Spanish 74% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Hudson

• 2024 margin: Strong D (+28.1) · D 62.6% · R 34.6% · Other 2.8%
• 2008→2024 swing: -18.7pp toward R · 2008: 46.7pp · 2024: 28.1pp
• All cycles: 2024: D+28.1 2020: D+46.2 2016: D+51.8 2012: D+55.7 2008: D+46.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.10%
• Current HPI: 597.8126
• Rent YoY: ▲ 0.89%
• 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

+0.0% since first listed

7 events — show timeline

• 2026-03-11 Pending — HCMLS
• 2026-02-25 Contingent — NJMLS
• 2026-02-25 Relisted — NJMLS
• 2026-02-17 Pending — GSMLS
• 2025-12-15 Listed $899,000 NJMLS
• 2025-12-15 Listed $899,000 GSMLS
• 2025-12-14 Listed $899,000 HCMLS