Real Estate Investing in Great Meadows, New Jersey (07838)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07838 (Great Meadows, 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 Great Meadows, NJ (07838)?
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Market Analysis: 07838 Great Meadows
The 07838 ZIP covers a section of Great Meadows that demands careful diligence. Prices near $487K look accessible, but the work to make a deal cash flow is real.
Stepping back, the numbers look inviting — $487K purchase price, 0.0% nominal cap — the work to hit that pro forma in 07838 is substantial and deserves full respect.
Nearby ZIPs in Great Meadows have seen price recovery that 07838 has not matched. Warren County data supports the view that the spread is structural rather than temporary.
Put differently, 3,495 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The 07838 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 Great Meadows:
Property Strategy for 07838
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $480,889 | $3,300 | 4.9% | +10.0% | $160,296 |
| 4BR | $576,142 | $3,840 | 4.8% | +10.1% | $144,035 |
Market Trends
Home Value History (with trend line)
📊 How Does 07838 Compare?
| Metric | 07838 | Great Meadows | New Jersey |
|---|---|---|---|
| Home Value | $487,464 | $487,464 | $559,826 |
| 5-Year CAGR | 5.5% | 5.5% | 8.4% |
| Avg Rent | $2,340 | $2,340 | - |
| Cap Rate | 3.7% | 3.7% | - |
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 07838 (Great Meadows, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $487,464 |
| Monthly Rent | $2,340 |
| Price-to-Rent | 17.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 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 (3.7%). 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 07838
Population: 3,495
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 07838
Schools in This ZIP Code
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 1,568 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are homes affordable in Great Meadows, NJ?
Median home price in Great Meadows, NJ is near $487K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
What are rental rates like in Great Meadows, NJ?
The typical rental in Great Meadows, NJ commands about $2,340/mo monthly. That rent profile steady cash flow against the $487K purchase basis.
Is the tenant base reliable in Great Meadows, NJ?
The tenant pool in Great Meadows, NJ is solid, supported by local employment and population fundamentals. Rents of $2,340/mo are well-absorbed by the market.
Is Great Meadows, NJ good for house hacking?
The a challenging house-hack environment in Great Meadows, NJ reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is it like being a landlord in Great Meadows, NJ?
Great Meadows, NJ falls under NJ landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
You know 07838 now. You don’t know where it ranks.
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How 07838 ranks in Allentown-Bethlehem-Easton, PA-NJ
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