Real Estate Investing in Franklin Park, New Jersey (08823)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 08823 (Franklin Park, NJ)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Franklin Park, NJ (08823)?
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Market Analysis: 08823 Franklin Park
This part of Somerset County is not an easy win. The 08823 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Turning to rents, the numbers look inviting — $430K purchase price, 0.0% nominal cap — the work to hit that pro forma in 08823 is substantial and deserves full respect.
Nearby ZIPs in Franklin Park have seen price recovery that 08823 has not matched. Somerset County data supports the view that the spread is structural rather than temporary.
Who lives in 08823 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 08823 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 Franklin Park:
Property Strategy for 08823
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $375,760 | $3,000 | 5.7% | +10.6% | $187,880 |
| 3BR | $520,273 | $3,600 | 5.0% | +9.8% | $173,424 |
| 4BR | $878,997 | $3,980 | 3.3% | +9.6% | $219,749 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 08823 Compare?
| Metric | 08823 | Franklin Park | New Jersey |
|---|---|---|---|
| Home Value | $430,122 | $430,122 | $559,826 |
| 5-Year CAGR | 8.0% | 8.0% | 8.4% |
| Avg Rent | $2,673 | $2,673 | - |
| Cap Rate | 4.9% | 4.9% | - |
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 08823 (Franklin Park, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $430,122 |
| Monthly Rent | $2,673 |
| Price-to-Rent | 13.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 12.9% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (4.9%). 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 08823
Population: 8,873
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 08823
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Brunswick Acres Elementary School
Cambridge Elementary School
Constable Elementary School
Greenbrook 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 2,429 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Franklin Park, NJ?
Franklin Park, NJ home values average about $430K. That price point suits investors targeting rentals with $2,673/mo in monthly income.
What is it like being a landlord in Franklin Park, NJ?
Franklin Park, NJ falls under NJ landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
How much rent can I charge in Franklin Park, NJ?
Expect rents around $2,673/mo per month in Franklin Park, NJ. With home values at $430K, the yield math works out to reasonable levels for rental investors.
What real estate strategy is ideal for Franklin Park, NJ?
Most investors in Franklin Park, NJ run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
What kind of tenants rent in Franklin Park, NJ?
Working renters make up the core of the Franklin Park, NJ tenant base. The pool is reasonable for investors targeting long-term holds.
You know 08823 now. You don’t know where it ranks.
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How 08823 ranks in New York-Newark-Jersey City, NY-NJ-PA
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