Real Estate Investing in Fanwood, New Jersey (07023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07023 (Fanwood, NJ)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Fanwood, NJ (07023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07023 Fanwood
ZIP 07023 inside Union County looks affordable on the surface — median value of $818K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $2,754/mo on a $818K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 07023 sits below the stated 0.0% once reality is priced in.
Within NJ, ZIP 07023 trails on several market indicators that neighboring Union County submarkets outperform. The gap is real and healthy enough to shape underwriting.
A robust renter share of 13% in 07023 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 07023 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Fanwood:
Property Strategy for 07023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $753,028 | $3,830 | 3.7% | +9.0% | $251,009 |
| 4BR | $836,631 | $4,350 | 3.7% | +8.6% | $209,158 |
Market Trends
Home Value History (with trend line)
📊 How Does 07023 Compare?
| Metric | 07023 | Fanwood | New Jersey |
|---|---|---|---|
| Home Value | $818,392 | $818,392 | $559,826 |
| 5-Year CAGR | 7.1% | 7.1% | 8.4% |
| Avg Rent | $2,754 | $2,754 | - |
| Cap Rate | 2.6% | 2.6% | - |
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 07023 (Fanwood, NJ). Anonymous, moderated, never written by AI.
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Property managers serving Union County
Manage rentals here? List your business →Corner Property Management is a property management company serving New Jersey and Pennsylvania. 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 | $818,392 |
| Monthly Rent | $2,754 |
| Price-to-Rent | 24.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | +8.0% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +5.8% ▲ |
🏠 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 (2.6%). 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 07023
Population: 7,714
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 07023
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bayberry School
East End School
Evergreen Elementary School
Evergreen Elementary School
McKinley Elementary 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 1,064 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Fanwood, NJ?
Homes in Fanwood, NJ typically sell near $818K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
What is the typical renter like in Fanwood, NJ?
Fanwood, NJ offers a even-keeled renter base at the $2,754/mo rent level. Tenant turnover is reasonable for well-managed properties.
What monthly rent should investors expect in Fanwood, NJ?
Rental rates in Fanwood, NJ average $2,754/mo. Tenant demand and $818K home values make the yield look reasonable by investor standards.
Is Fanwood, NJ a good market for FHA house hackers?
Fanwood, NJ offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,754/mo rent level.
What is the best play in Fanwood, NJ?
For Fanwood, NJ, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 07023 now. You don’t know where it ranks.
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How 07023 ranks in New York-Newark-Jersey City, NY-NJ-PA
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