56-58 Hamilton St · Somerville, NJ 08876-2926

$525,000

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 102 Days on market

Built 1900 5,227 sqft lot $337/sqft · at area comps Est $635k · 17% under

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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 +8.0/30.0
• Appreciation +5.0/10.0
• Livability +4.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0

Listing remarks MLS

Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

Key facts

• Two family duplex
• Expansion potential
• Eat in kitchen

Tags

• TWO FAMILY DUPLEX
• BRIGHT LIVING ROOM
• EAT IN KITCHEN
• FULL BASEMENT
• EXPANSION POTENTIAL

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $525k.

Deal economics

• At list price, monthly cash flow is $-540 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $430k (18.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $388k (26.1% below list).
• Recommended offer: $388k (26.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 84/100 on livability (#31 in NJ, #782 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute C-, cost of living F.
• Somerville Public School District (suburban): math 19% / reading 49% proficiency, ranked #283 of 472 in NJ (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Van Derveer Elementary School (math 14% / reading 45%, grade F, #731 of 1,303 statewide, top 59%, 717 students, 40% FRL); Somerville Middle School (math 13% / reading 46%, grade F, #316 of 431 statewide, top 74%, 341 students, 40% FRL); Somerville High School (math 27% / reading 56%, grade F, #177 of 399 statewide, top 45%, 1,109 students, 16% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 678 units permitted in Somerset County in 2024 (296 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($4k loan paydown + $16k appreciation (3.0% local appreciation)).
• Somerset County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $525k implies a 425% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $388,145 (26.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.74% ✗
• Cap rate: 5.06%
• Cash-on-cash: -4.41%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

• ARV (median comp): $635,013
• List price: $525,000
• Delta: -17.32%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Central Ave	0.34mi	4/2.5	1,488 (-5%)	5mo	$525,000	$353	71
84 Southside Ave	0.24mi	4/2.5	1,632 (+5%)	18mo	$635,000	$389	64
99 Eastern Ave	0.53mi	3/1.0 (-1)	1,792 (+15%)	15mo	$415,000	$232	29

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: 3.4%
• Equity multiple: 1.20×
• Total profit: $28,906
• Equity at exit: $236,063

10-year hold

• IRR: 6.8%
• Equity multiple: 2.03×
• Total profit: $151,233
• Equity at exit: $363,801

Cash invested: $147,000 (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 08876-2926

• Active inventory: 1
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $3,881 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$634 /mo · $7,611/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $-540

Break-even live

Break-even rent $4,565

Max offer price $429,634

Occupancy floor —

Sensitivity live

Price	-10% $-243	-5% $-391	+0% $-540	+5% $-688	+10% $-837
Rent	-10% $-846	-5% $-693	+0% $-540	+5% $-387	+10% $-233
Rate	-1.0pp $-275	-0.5pp $-406	base $-540	+0.5pp $-676	+1.0pp $-814

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
87 Fairview Ave Somerville, NJ	3.0	1.5	1100	$3,500	$3.18	0d	1	0.43mi
3 Sternadori Rd Somerville, NJ	3.0	2.5	1930	$4,250	$2.20	26d	1	0.48mi

Listing history 18 events

1. 2026-06-02
   statusdays on market $525,000 Under Contract 102 DOM
2. 2026-06-01
   days on market $525,000 Active 101 DOM
3. 2026-05-31
   days on market $525,000 Active 100 DOM
4. 2026-05-18
   price $525,000 781-char remark

   Show marketing remark (782 chars)

   Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

5. 2026-05-18
   price $525,000 782-char remark

   Show marketing remark (782 chars)

   Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

6. 2026-05-04
   price $535,000 781-char remark

   Show marketing remark (782 chars)

   Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

7. 2026-05-04
   price $535,000 782-char remark

   Show marketing remark (782 chars)

   Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

8. 2026-03-16
   price $550,000 781-char remark

   Show marketing remark (782 chars)

   Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

9. 2026-03-16
   price $550,000 782-char remark

   Show marketing remark (782 chars)

   Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

10. 2026-02-20
    listed $575,000 Active 781-char remark

    Show marketing remark (782 chars)

    Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

11. 2026-02-20
    listed $575,000 Active 782-char remark

    Show marketing remark (782 chars)

    Prime Investment Opportunity in the Heart of Somerville! Seize the chance to own this charming and income-generating two-family duplex in one of Somerville's most desirable neighborhoods. Perfect for investors or owner-occupants looking to offset their mortgage! The first-floor apartment offers 2 spacious bedrooms, 1 full bath, a bright living room, an eat-in kitchen, and a full basement--ideal for additional storage or expansion potential. The second-floor apartment features 2 generous bedrooms, 1 full bath, a comfortable living room, and an inviting eat-in kitchen. Whether you choose to live in one unit and rent the other or expand your investment portfolio, this property presents endless potential. Don't miss out on this rare opportunity to own in a thriving community!

12. 2025-09-12
    status Pending
13. 2025-07-16
    price $574,000
14. 2025-06-12
    price $625,000
15. 2025-04-10
    price $650,000
16. 2025-03-03
    listed $675,000 Active
17. 1987-06-11
    soldstatus $100,000
18. 1979-02-01
    soldstatus $10,000

ⓘ 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: $7,611 · $634/mo
• Projected year-2 tax: $10,342 · $862/mo
• Expected delta: +$2,731/yr (+$228/mo · 35.9%)

ⓘ 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) · 23% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,577
• − Mortgage interest: −$29,408
• − Property taxes: −$7,611
• − Insurance: −$2,625
• − Repairs & maintenance: −$3,726
• − Management: −$3,726
• − Depreciation: −$15,273
• Taxable loss: −$15,792
• Est. tax savings @ 24.0%: +$3,790
• After-tax cash flow: $-2,688/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: Somerville Public School District
• NCES district ID: 3415090
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $70,103
• Composite: 31.32/100
• National rank: #6001
• State rank: #283 of 472 in NJ

Livability — Somerville

• Score: 84/100
• State rank: #31
• US rank: #782

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Somerville, NJ

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 356,675 people
• By 2030: 367,194 · +2.9%
• By 2040: 386,571 · +8.4%
• By 2050: 401,708 · +12.6%
• By 2075: 438,898 · +23.1%
• By 2100: 448,170 · +25.7%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+5150.0% since first listed

15 events — show timeline

• 2026-05-18 Price Changed $525,000 GSMLS
• 2026-05-18 Price Changed $525,000 MOMLS
• 2026-05-04 Price Changed $535,000 GSMLS
• 2026-05-04 Price Changed $535,000 MOMLS
• 2026-03-16 Price Changed $550,000 GSMLS
• 2026-03-16 Price Changed $550,000 MOMLS
• 2026-02-20 Listed $575,000 MOMLS
• 2026-02-20 Listed $575,000 GSMLS
• 2025-09-12 Pending — MOMLS
• 2025-07-16 Price Changed $574,000 MOMLS
• 2025-06-12 Price Changed $625,000 MOMLS
• 2025-04-10 Price Changed $650,000 MOMLS
• 2025-03-03 Listed $675,000 MOMLS
• 1987-06-11 Sold (Public Records) $100,000 Public Records
• 1979-02-01 Sold (Public Records) $10,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $7,611 · +3.2% YoY. Source: county tax records.