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Rent slips to $3,376, 29 comps deep
Updated 10 days ago
Your Investment Paths
Turnkey Rental
113 Spear Street shows excellent rental potential. Market analysis suggests a monthly income ranging between $3,376 and $3,730. This consistent demand positions the property as a reliable asset for generating steady cash flow in Metuchen. With a projected rental yield of approximately 5.17%, the property remains a solid choice for investors. These figures reflect current neighborhood performance and highlight the income-generating capabilities of this well-located single-family home.
More about this home
Neighborhood Assessment
Metuchen's Spear Street neighborhood shines with strong schools—Edgar Middle (8/10) and Metuchen High (8/10) nearby—and walkability perks like near shopping and train access. It's quiet, park-adjacent, and comps show solid values around 700K, with this 3-bed/3-bath, 1,266 sqft renovated Cape Cod listing at 825K. Low flood/fire risk, though wind/heat concerns linger. Overall, a stable, family-friendly spot with steady demand.[55 words]
Market Activity
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Rental Income
$43K
Yield
5.2%
Appreciation
$23K
Year 1 Estimates
Fix-and-Flip
Modernizing your home significantly boosts value, with price per square foot rising from 615 dollars to 621 dollars. This 1.1 percent increase helps your property shine, securing a stronger position in the market with higher potential returns. These updates create a welcoming, move-in-ready space that attracts quality tenants and buyers alike. With a potential rent of 3,376 dollars, these upgrades turn your home into a standout gem, blending lifestyle comfort with smarter equity growth.
Value Add
$9K
Appreciation
$22K
Post Typical Renovation
Buy-Rehab-Rent
This property offers solid post-renovation potential, with values reaching up to $854,000. Renovations are essential to maximize market appeal, as current data suggests a significant uplift is possible by aligning the home with premium local comps. Projected rental income hits approximately $3,376 monthly, resulting in a 5% yield. While this is a stable performer, investors should carefully weigh renovation costs against this rental return to ensure the final cash flow remains robust.
Rental Income
$41K
Yield
5.0%
Appreciation
$22K
Year 1 Estimates, Post Typical Renovation
Estimated value
$825K
$40K over comp median
Comparative Market Analysis
$660K – $975K
~235 days to sell
Based on 8 comps
113 Spear St, Metuchen Investment Report: Flip & Rental Analysis · Frontflip