December 18, 2025 | Fresh Inventory Report
Based on my analysis of NJMLS listings with DOM 0-3 (excluding previously analyzed properties), I found only 4 qualifying properties from today's new inventory.
Today's slim pickings reveal a winter market cooling into the holidays. Sellers haven't adjusted pricing to match—three of four properties show negative cash flow for traditional investors. However, Edgewater's 13 Columbia Terrace stands out as a strong house-hack opportunity.
🎯 TOP OPPORTUNITY
🏆 #1: EDGEWATER — 3 Units — $795,000
13 Columbia Terrace | MLS# 25042380 | DOM: 0
The Setup
Century-old three-family in Edgewater's Undercliff area featuring a 2BR/2BA owner's unit with private yard, plus two 1BR units. Listing claims owner's unit is "fully renovated" with modern finishes, while both rental units are tenant-occupied.
The Numbers
Metric | Value |
|---|---|
Asking Price | $795,000 |
Units | 3 |
Price Per Unit | $265,000 |
Year Built | 1900-1939 |
Lot Size | 32,025 sf (25x125) |
Annual Taxes | $11,397 |
Est. Monthly Rent | $5,050 |
Annual Gross Income | $60,600 |
GRM | 13.1 |
NOI (45% expense ratio) | $33,330 |
Cap Rate | 4.2% |
Cash-on-Cash (25% down, 6%) | -1.2% |
Why It Works (House-Hack Play)
Occupy the renovated 2BR/2BA with private yard for $2,298/month NET after rental income
Save $1,200-$1,500/month versus renting equivalent space in Edgewater
FHA financing available: 3.5% down = $27,825
When you move out in 2-3 years and rent your unit at $3,500+, building cash flows $1,200/month positive
Edgewater waterfront lifestyle at 60% off market rent
Build equity in appreciating Bergen County asset
The Risk
Taxes approaching $1,000/month eat into margins
Seller's Net Op Inc of $37,000 doesn't align with conservative modeling
As owner-occupant controlling maintenance, you can beat the 45% expense ratio
The Play
BUY for house-hackers with 2+ year horizon—this is the Edgewater waterfront lifestyle at 60% off market rent while building equity. PASS for pure investors due to negative leverage.
📊 WATCH LIST
#2: JERSEY CITY — 4 Units — $975,000
18 Brinkerhoff Street | MLS# 25043474 | DOM: 1
The Setup
Turnkey four-unit in Jersey City's rapidly redeveloping area with three 2BR/1BA units plus one 1BR/1BA. One unit delivered vacant, central air in all apartments, separately metered (5 electric meters, individual water heaters).
The Numbers
Metric | Value |
|---|---|
Asking Price | $975,000 |
Units | 4 |
Price Per Unit | $243,750 |
Annual Taxes | $12,579 |
Est. Monthly Rent | $9,600 |
Annual Gross Income | $115,200 |
GRM | 8.5 |
Cap Rate | 6.5% |
Cash-on-Cash (25% down, 6%) | 4.8% |
The Angle
Vacant 1BR unit resets immediately at $3,000+ while the three occupied 2BRs likely run $2,000-$2,200. Conservative estimate of $9,600/month total, with upside to $10,000+ as leases roll.
The Risk
"Rapidly improving redevelopment area" is broker-speak for transitional neighborhood. Bank across the street "expected for conversion" is speculative appreciation talk, not current cashflow.
Verdict: WATCH — Solid GRM and near-breakeven cash flow with clear rent growth path as area gentrifies, but needs diligence on actual in-place rents and tenant quality.
⛔ PASS LIST
#3: BLOOMFIELD — 3 Units — $939,000
65 Grove Street | MLS# 25043378 | DOM: 2
Three-family with off-street parking for 4+ cars. First-floor 3BR/1BA is vacant, second floor at $2,517, third floor at $1,950. Essex County taxes at $1,309/month are brutal, and the $/unit premium ($313k) prices in appreciation that hasn't arrived yet.
Cap Rate: 4.9% | Cash-on-Cash: -0.5%
Verdict: PASS — Barely breakeven with zero margin for vacancy or capex. Only makes sense for owner-occupant willing to absorb negative leverage.
#4: PATERSON — 3 Units — $749,000
495-497 32nd Street | MLS# 25043136 | DOM: 3
Three-family off Route 20 with one occupied unit, plus two vacant units (2BR and 1BR). Taxes at $1,350/month on a Paterson property are exceptionally high relative to rents. "24 hour notice...investors" suggests difficult tenant situation.
Cap Rate: 4.7% | Cash-on-Cash: -1.6%
Verdict: PASS — Negative cash flow even after stabilizing vacancies. Passaic County tax burden destroys any prayer of positive leverage at this basis.
📋 DEAL RANKINGS
Rank | Address | Town | Price | $/Unit | Cap Rate | CoC | Verdict |
|---|---|---|---|---|---|---|---|
1 | 13 Columbia Terrace | Edgewater | $795,000 | $265,000 | 4.2% | -1.2% | BUY (house-hack) |
2 | 18 Brinkerhoff Street | Jersey City | $975,000 | $243,750 | 6.5% | 4.8% | WATCH |
3 | 65 Grove Street | Bloomfield | $939,000 | $313,000 | 4.9% | -0.5% | PASS |
4 | 495-497 32nd Street | Paterson | $749,000 | $249,667 | 4.7% | -1.6% | PASS |
🎬 TODAY'S MARKET SNAPSHOT
Today's slim pickings (only 4 new listings in 3 days) reveal a winter market cooling into the holidays, but sellers haven't adjusted pricing to match—three of four properties show negative cash flow for traditional investors banking on 25% down conventional financing.
The standout insight: Edgewater's 13 Columbia Terrace transforms from an investor "pass" into a house-hacker "buy" when you run the FHA math—$2,298/month net housing cost in a $795k Bergen County property is a $1,200-$1,500/month arbitrage versus renting, with a path to $1,200/month positive cash flow once you move out.
Jersey City's Brinkerhoff property offers the only viable pure-investor play at near-breakeven cash flow with gentrification upside, while Bloomfield and Paterson continue testing seller-side pricing that ignores the interest rate reality crushing multifamily deals across North Jersey.
Market remains seller-favorable with buyers accepting sub-5% cash-on-cash returns on most properties. Patient capital wins—wait for motivated sellers or distressed opportunities rather than chasing overpriced stabilized assets.