M-E-T-H-O-D

The Thomas family is at a crossroads.

Emily Thomas—a New Jersey native , new mom , and career-driven powerhouse —has started to imagine what life might look like with her own family a bit closer.

With childcare, work, and home all colliding in one hectic swirl , she’s realizing just how much of a difference a nearby grandparent could make. The line between chaos and calm? Let’s call it thin.

While her partner’s parents live in the city, Emily knows that there’s no substitute for her own mom.

Like our friends the Garcias (re: The Great $1M Tradeoff series), the Thomases are now weighing a move to the suburbs. Emily’s Midtown West office at 1 Penn Plaza makes the NJ Transit Northeast Corridor a natural focus, so we’re taking a similar path on the Real Garden Estate Adventure—this time heading west, every fifteen minutes on the NJT, to see what life (and real estate) looks like out that way.

As we head out, let’s preview the properties and then our full methodology, which will help us dial in on the precise monthly time and financial commitments facing the Thomases.

NJ Transit: Northeast Corridor Stop >>> Property Address

• New York Penn Station >>> 340 West 55th Street #7B

• Newark Penn >>> 632 Belgrove Dr, Kearny Town, NJ 07032

• North Elizabeth >>> 216 W 6th Ave, Roselle Boro, NJ 07203

• Rahway >>> 150 Carolyn Ave, Colonia, NJ 07067

• Edison >>> 12 Edgewood Rd, Edison, NJ 08820

• Jersey Avenue >>> 10 Julie Ct, Somerset, NJ 08873

• Hamilton >>> 36 Birdie Way, Lawrenceville, NJ 08648

• Reference Point: 530 Grand Street #E8C

Methodology

The methodology below details the criteria and assumptions used for comparing eight real estate properties in New Jersey and New York City. The goal is to set a consistent baseline for evaluating which property offers the best overall value—a combination of affordability, space, and minimal time burden—for the Thomases.

The analysis focuses on properties accessible via the New Jersey Transit (NJT) Northeast Corridor Line, segmented by proximity to Midtown, and includes two New York City co-ops, including one on the Lower East Side.

Property Selection and Constraints

• Price Constraint: Properties were identified to be priced at, under, or near $1,000,000. A few properties in the final analysis exceeded the $1M mark, but the criteria were maintained for the overall property search, with a $1M (or less) closing price achievable for all.

• Availability: At the time of selection, each property was current and available.

• Property Types: The analysis includes co-ops (NYC) and single-family homes.

Transit Proximity and Access

• Final Destination: All commutes end at One Penn Plaza (via NY Penn Station or a nearby subway stop).

• Final Leg of Commute: The walk from the transit exit (train or subway) to One Penn Plaza is assumed to be 5 minutes for all properties.

• Proximity Mode: Properties are classified by the Thomases’ assumed mode of transit to the station: Walking or Driving. In New York, all commutes to/from the subways are walked, while in New Jersey all commutes to/from the trains are driven.

Transit Framework and Temporal Cost

• NJ Transit Segments: NJ properties are grouped around 15-minute train ride increments along the Northeast Corridor line.

• Train Time (NJ): The actual ride length is based on the reported schedule time for a local train.

• Subway Time (NYC): The actual ride length is assumed to be either 5 minutes (Midtown West) or 15 minutes (Lower East Side) to reach the subway stop closest to Penn Plaza.

  • Assumption: Punctuality: All trains and subways are assumed to run on time—no delays. (Shah, right, NJ Transit! Also, shah, right, MTA!)

  • Assumption: Commute Frequency: The analysis assumes 22 working days per month.

• Temporal Cost: This is just a fancy way of saying that we calculated the total number of hours spent commuting per month, added them up, and reported back.

Commute Cost Assumptions

• NYC Subway Pass: Commuting cost is based on a monthly MetroCard fee of $132.

• NJ Transit Pass (Estimated): Cost is based on a proportional scaling method, with Hamilton Station’s published monthly rate of $547 serving as the 100% benchmark.

  • Proportional Scaling: Other stations are priced at fixed percentages of the Hamilton rate: 16.67%, 50%, 66.67%, and 83.33%. These figures are provided to give us some cost measure, assuming that monthly cards increase in cost the longer the train legs.

• Driving Cost (NJ Properties Only): The cost for the driving portion of the commute (if applicable) is calculated based on:

  • Gas Price: $3.01 per gallon.

  • Calculation: The total monthly driving cost accounts for a full 22 working days per month (round trip) and is added to the NJT monthly pass price.

  • No Taxis! We are not taking any taxis on this voyage.

Monthly Overhead and Financial Assumptions

The monthly overhead is normalized to reflect the true all-in cost of carrying the property (excluding commuting cost).

• Mortgage Rate: A 5.875% interest rate for a 30-year fixed mortgage is assumed for calculating the monthly Principal and Interest (P&I) payment.

• Down Payment: The Thomases will put 20% down.

• Monthly Maintenance: For NYC properties (both co-ops), the amount of monthly maintenance charges is stipulated in the listing (and the specific property post).

• NYC Utilities: For NYC properties, $200 is allocated for internet and electricity. The rest is covered in the specific maintenance fee.

• NJ Overhead: For NJ properties, the amount of monthly property taxes is stipulated in the listing (and the specific property post). Fees for electricity, heating, water/sewer, and internet are estimated at $530/month, regardless of the property.

• HOA Dues: No HOA dues are included in the NYC properties. In NJ, one property has an HOA fee of $729/month. The rest of the NJ properties do not have listed HOA fees; however, we are assuming $150/month for these.

Nature of the Estimates

The resulting figures are illustrative, best-case examples intended solely for a comparative analysis of the eight properties, setting a consistent baseline to determine the best financial and temporal value for the Thomases.

Coming up, our first property!