Real Estate Investing in Cedar Grove, New Jersey (07009)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07009 (Cedar Grove, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 29.4 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cedar Grove, NJ (07009)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07009 Cedar Grove
Not every below-median market is a bargain. Cedar Grove's 07009 ZIP sits at signals that favor experienced operators who can absorb the risk $778K pricing implies.
For an experienced owner, 07009 can be a a viable market for hunting ground — but the discount at $778K reflects genuine risk that outside investors often underestimate.
Looking more closely, 07009 offers a low basis, the region around Cedar Grove has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 07009 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 07009 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Cedar Grove:
Property Strategy for 07009
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $626,037 | $2,450 | 2.8% | +7.8% | $313,018 |
| 3BR | $739,152 | $3,070 | 3.0% | +7.6% | $246,384 |
| 4BR | $843,731 | $3,490 | 3.0% | +7.3% | $210,933 |
| 5BR | $1,165,051 | — | — | +9.4% | $233,010 |
Market Trends
Home Value History (with trend line)
📊 How Does 07009 Compare?
| Metric | 07009 | Cedar Grove | New Jersey |
|---|---|---|---|
| Home Value | $778,140 | $778,140 | $559,826 |
| 5-Year CAGR | 5.4% | 5.4% | 8.4% |
| Avg Rent | $2,205 | $2,205 | - |
| Cap Rate | 2.2% | 2.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07009 (Cedar Grove, NJ). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 07009 (Cedar Grove, NJ)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Essex County
Manage rentals here? List your business →Associa Community Management Corporation of New Jersey is an HOA property management company serving Northern and Central New Jersey. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $778,140 |
| Monthly Rent | $2,205 |
| Price-to-Rent | 29.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +7.9% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07009
Population: 13,317
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07009
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Beatrice Gilmore School
Essex County West Caldwell Tech
Grover Cleveland Middle School
Henry B. Whitehorne Middle School
James Caldwell High School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,024 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of vacancy should I budget for in Cedar Grove, NJ?
Cedar Grove, NJ carries elevated vacancy risk. Expect even-keeled absorption at market rents of $2,205/mo.
Are landlord laws favorable in Cedar Grove, NJ?
NJ ranks as a tenant-protective state for landlord-tenant law. Cedar Grove generally follows the statewide framework, so landlords face reasonable operating rules.
What kind of market is Cedar Grove, NJ for investors?
The 3.0/5 investability rating in Cedar Grove, NJ reflects its $778K prices and $2,205/mo rents. Investors generally consider it a solid option within NJ.
Does house hacking work in Cedar Grove, NJ?
House hacking in Cedar Grove, NJ is a challenging. With home values around $778K and rents at $2,205/mo, owner-occupants can offset a meaningful share of PITI.
What are rental rates like in Cedar Grove, NJ?
Rent in Cedar Grove, NJ is around $2,205/mo. The resulting rent-to-value relationship with $778K pricing is reasonable for most investor models.
You know 07009 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 07009 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 07009 ranks in New York-Newark-Jersey City, NY-NJ-PA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 07009 (Cedar Grove)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 07009 (Cedar Grove, NJ).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.