708 Southard St · Trenton, NJ 08638

$265,000

4 bd · 1.5 ba · 1,190 sqft · Townhouse public records · 1 Days on market

Built 1906 1,198 sqft lot Est $195k · 36% over

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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).

• Cash flow +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully renovated 4-bedroom, 1.5-bath home that offers the perfect blend of modern style and everyday comfort. The stunning kitchen features quartz countertops, modern cabinetry, and updated finishes throughout. The main level includes a convenient powder room, while the second floor offers three spacious bedrooms and a full bath. The finished third floor provides a spacious fourth bedroom, home office, or flex space. Enjoy central air conditioning, forced-air heating, and laundry hookups. Fully renovated from top to bottom, this move-in-ready home is ideally located just minutes from the Trenton Train Station for easy commuting to New York City and Philadelphia, and a s

Key facts

• Forced-air heating
• Quartz countertops
• Finished third floor

Tags

• RENOVATED KITCHEN
• QUARTZ COUNTERTOPS
• MODERN CABINETRY
• FINISHED THIRD FLOOR
• CENTRAL AIR CONDITIONING
• FORCED-AIR HEATING

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: End of row townhouse; Fee simple ownership; Year built recorded by assessor
• Construction: Brick construction; Brick/mortar foundation; Above grade and below grade structures
• Exterior features: Lot dimensions roughly 20 x 60 feet; No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the second upper level; Additional room listed as 'Bedroom 3'
• Bathrooms: One full bathroom (on upper level); One half bathroom (on main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (natural gas); Natural gas hot water
• Interior features: Full, unfinished basement; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $265k.

Deal economics

• At list price, monthly cash flow is $362 ($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 $246k (7.0% below list).
• Recommended offer: $246k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 6.3% in Trenton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools F, crime F, employment F.
• Trenton Public School District (urban): math 2% / reading 16% proficiency, ranked #471 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 83 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,256 units permitted in Mercer County in 2024 (1,303 in 5+ unit buildings).
• This rent runs 44% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• Current owner paid $4k; list at $265k implies a 6525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $246,391 (7.0% below list)

Questions for the listing agent

1. Built in 1906 — 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: 0.93% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $195,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
535 Brunswick Ave	0.25mi	3/2.0 (-1)	1,223 (+3%)	4mo	$200,000	$164	74
119 Wayne Ave	0.29mi	4/1.5	1,318 (+11%)	6mo	$170,000	$129	64
92 Evans Ave	0.11mi	4/1.5	1,368 (+15%)	8mo	$279,000	$204	63
18 Evans Ave	0.14mi	4/2.0	1,348 (+13%)	8mo	$220,000	$163	63
55 Heil Ave	0.60mi	4/2.0	1,200 (+1%)	7mo	$224,999	$187	62
135 Fountain Ave	0.37mi	3/1.5 (-1)	1,086 (-9%)	2mo	$195,000	$180	62
100 Monument Pl	0.49mi	3/1.5 (-1)	1,156 (-3%)	7mo	$209,000	$181	62
1314 Princeton Ave	0.54mi	4/1.5	1,092 (-8%)	4mo	$173,730	$159	57
23 Cain Ave	0.55mi	3/1.0 (-1)	1,102 (-7%)	8mo	$120,000	$109	48
629 Ohio Ave	0.67mi	4/1.0	1,044 (-12%)	1mo	$252,000	$241	46
50 Kelsey Ave	0.60mi	3/1.0 (-1)	1,291 (+8%)	7mo	$200,000	$155	45
1242 N Olden Ave	0.74mi	4/2.0	1,290 (+8%)	6mo	$167,000	$129	45

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-19,201
• Equity at exit: $39,512

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $15,723
• Equity at exit: $22,912

Cash invested: $74,200 (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 08638

• Rents YoY: 3.3%
• Active inventory: 83
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,464 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$84 /mo · $1,007/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $362

Break-even live

Break-even rent $2,005

Max offer price $265,000

Occupancy floor 80%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 W Ingham Ave Trenton, NJ	4.0	1.0	1126	$2,000	$1.78	13d	1	0.20mi
134 Old Rose St Trenton, NJ	4.0	2.0	1212	$2,300	$1.90	21d	1	0.25mi
24 New Trent St Trenton, NJ	3.0	2.0	1336	$2,350	$1.76	13d	1	0.32mi
125 Olive St Trenton, NJ	2.0–3.0	1.0–1.5	896	$1,392	$1.55	21d	1	0.56mi
42 Grant St Trenton, NJ	4.0	1.0	1000	$2,000	$2.00	13d	1	0.57mi
1314 Princeton Ave Trenton, NJ	4.0	1.0	1092	$2,400	$2.20	13d	1	0.57mi
1100 Prospect St Unit 1 Ewing Township, NJ	3.0	1.0	1100	$2,000	$1.82	21d	1	0.74mi
319 Rutherford Ave Trenton, NJ	4.0	2.0	1100	$2,200	$2.00	21d	1	0.76mi
901 Brunswick Ave #7 Trenton, NJ	3.0	1.0	940	$2,800	$2.98	13d	1	0.77mi
331 Ellis Ave Trenton, NJ	3.0	1.0	1190	$2,275	$1.91	21d	1	0.81mi
186 Passaic St Trenton, NJ	3.0	2.0	1064	$2,400	$2.26	4d	1	0.94mi
311 Spring St Trenton, NJ	3.0	1.0	1200	$2,200	$1.83	13d	1	0.94mi
234 Walnut Ave Trenton, NJ	4.0	1.0	1480	$2,200	$1.49	21d	1	0.96mi
510 W Hanover St Trenton, NJ	5.0	1.0	1200	$2,200	$1.83	13d	1	0.98mi
510 N Hermitage Ave Trenton, NJ	5.0	1.5	1316	$2,500	$1.90	13d	1	1.06mi
417 Walnut Ave Trenton, NJ	3.0	1.0	992	$2,050	$2.07	21d	1	1.08mi
600 Artisan St Unit 126 Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	20d	1	1.10mi
600 Artisan St Trenton, NJ	3.0	2.0	1392	$2,650	$1.90	13d	3	1.10mi
1165 E State St Trenton, NJ	3.0	1.0	900	$1,749	$1.94	13d	1	1.12mi
1040 Indiana Ave Trenton, NJ	3.0	1.0	1232	$2,950	$2.39	13d	1	1.13mi
416 Klagg Ave Trenton, NJ	3.0	1.0	1034	$2,300	$2.22	21d	1	1.21mi
635 Chambers St Trenton, NJ	4.0	2.0	1312	$2,500	$1.91	13d	1	1.37mi
219 Woodlawn Ave Trenton, NJ	3.0	1.0	1456	$2,355	$1.62	13d	1	1.37mi
117 Park Ave Morrisville, PA	3.0	2.0	1396	$3,200	$2.29	13d	1	1.42mi
121 Columbus Ave Trenton, NJ	3.0	1.0	1050	$1,900	$1.81	21d	1	1.47mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $265,000 Coming Soon 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: $1,007 · $84/mo
• Projected year-2 tax: $3,803 · $317/mo
• Expected delta: +$2,796/yr (+$233/mo · 277.6%)

ⓘ 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 ≥102°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: $29,567
• − Mortgage interest: −$14,844
• − Property taxes: −$1,007
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,365
• − Management: −$2,365
• − Depreciation: −$7,709
• Taxable loss: −$49
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $4,361/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: Trenton Public School District
• NCES district ID: 3416290
• Math proficiency: 2% ▼ -8.00%
• Reading proficiency: 16% ▼ -4.00%
• Median HH income: $35,078
• Composite: 7.31/100
• National rank: #9956
• State rank: #471 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

• Census place: Trenton, NJ
• County: Mercer County · 327,655 people
• City population: 177,819
• Metro: Trenton-Princeton, NJ
• Population (ZIP): 22,816
• Household income: $66,875
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 1185.0

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 0.68)
• Race & ethnicity: Black 43% White 31% Hispanic / Latino 21% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 2% Iranian 1%
• Foreign-born: 24% · Canada, Guatemala, China
• Languages at home: 76% English-only · Spanish 17% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -286.00%
• Current HPI: 334.5143
• Rent YoY: ▲ 3.31%
• 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

+307.1% since first listed

3 events — show timeline

• 2026-06-19 Coming Soon $265,000 BRIGHT MLS
• 2016-02-24 Sold (Public Records) $4,000 Public Records
• 2007-05-18 Sold (Public Records) $65,100 Public Records

Property tax history

-3.5%/yr

Latest (2025): $1,007 · +1.5% YoY. Source: county tax records.