$4,749 Closing Credit¹
#3948404, Listing Office: ELLEN ROSENBAUM REAL ESTATE
$349,000 List price
189 Pennington Ave Trenton, NJ 08618
$4,144
Closing credit¹
2,480 sqft
0.06 acres
$141 / sqft
Multi-Family
Property details
About 189 Pennington Ave
New Price! 189 Pennington Avenue presents a compelling investment opportunity with significant upside potential through strategic management and market repositioning. This mixed-use property comprises residential and commercial units, offering a balanced and diversified income stream. First floor unit approximately 500 sq ft, 1 bedroom 1 bathroom. Renting at $1,225/mo. Second Floor Unit, 3 bedrooms including finished attic. Approximately 1,500 sq. ft. renting at $1,160/mo. which is significantly below market value with older couple currently staying there for 10+ years. Market rent is $1,800 for 3 bedroom. The commercial unit, currently operating as a hair salon, is rented at $850/month, also below market value of $1,000/mo. There is an opportunity to negotiate future lease agreements in line with market escalations, potentially increasing income by 20-25%. The property's gross annual rental income potential, if all units are rented at current rates, is $38,820. However, with adjustments to market rent rates, the projected annual income could rise to $48,300. Recent renovations and market adjustments enhance operational efficiency, providing a strategic advantage for increased net operating income (NOI). The mixed-use nature of the property reduces vacancy risks and enhances overall financial stability, making it an attractive option for real estate investors. In a revitalizing area, 189 Pennington Avenue offers promising growth in rental income and property value, making it a lucrative investment opportunity. Should you need assistance finding a mixed use loan the current owner is happy to assist.
Highlights
Home typeTriplex
HeatingBaseboard
StatusSale Pending
(PENDING)
(PENDING)
CoolingWindow Unit(s)
Size2,480 sqft
Lot size0.06 Acres
Year built1896
ParkingOn Street
MLS #NJME2043384
Summary
- MLS Number: NJME2043384
- MLS Name: BRIGHT
- Office Name: Weichert Realtors-Princeton Junction
- Office Phone: (609) 799-3500
- Office Email: bcarroll@weichertrealtors.net
- Listing Agent: Joseph Miczak
- Agent Phone: (732) 682-3740
- Agent Email: jmiczak@weichert.com
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.
BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 9:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$349,000
189 Pennington Ave
$4,144
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 16, 2021 | Home Sold | $170,000 |
| Oct 28, 2019 | Home Sold | $100,800 |
| Sep 02, 2004 | Home Sold | $160,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $136,500 | $7,598 |
| 2022 | $109,500 | $6,080 |
| 2021 | $109,500 | $6,060 |
| 2020 | $109,500 | $5,963 |
| 2019 | $109,500 | $6,203 |
History based on county public records data.
Nearby schools
1
Battle Monument Intermediate School
Public District 4-6
0.1 mi
•145 Pennington Ave
2
Benjamin C. Gregory Elementary School
Public District PK-3
0.4 mi
•500 Rutherford Ave
1
Ulysses S. Grant Intermediate School
Public District 4-6
0.9 mi
•159 N Clinton Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $23,803. Typical income of Trenton, NJ residents is less than $<35k annually. Typical family type is single, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
62%
<35k
27%
35k-100k
9%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
51%
Single, No Kids
32%
Single, with Kids
11%
Married, No Kids
6%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
16%
<11 yrs old
9%
12-17 yrs old
29%
18-34 yrs old
40%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
NHRA Drag Racing
Horse Races
Where do the neighbors shop?
Burlington
Big Lots
Stein Mart
Where do the neighbors go to eat?
Popeyes
Golden Corral
LongHorn Steakhouse
What do the neighbors drive?
Dodge
Kia
Buick
What do the neighbors listen to?
Urban Contemporary
Adult Standards
Contemporary Inspirational
All data provided by Home Junction and Claritas
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This home is located at 189 Pennington Ave in Trenton, NJ and zip code 08618 in the Pennington / Prospect neighborhood. This 2,480 square foot home, which was built in 1896, sits on a 0.06 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since May 15, 2024 and is currently priced at $349,000.
In February 2025, from all listings sold in Trenton, NJ there were more than 27 sold above asking price, over 20 sold below and more than 8 were sold right at the asked price. The number of listings in Trenton, NJ decreased by 2.2% between January and February 2025. While the average time on the market in February 2025 was 52 days, the median list price was $338,000.
From Rocket Homes Real Estate and based on county public records data.