Flooding during very heavy rains has occurred in the homes nearest the river. However, it is rare. Since 1955, there have been 4 floods, and some of the homes date back to the 1930s -- and are in superb condition. The neighborhood has other architecturally beautiful homes, trees, walkable sidewalks -- and an active community group that holds block parties, outdoor movie nights, plant sales and helps elderly neighbors. (Try finding that in Ewing or even Princeton!)
The neighborhood backs up on the D&R Canal, so is great for dogwalkers and bike riders. You will be hard pressed to find homes this nice for the price ($250K range) -- stone Tudors among them -- in NJ. Again, very friendly, diverse (black, white, Asian and Hispanic) neighborhood with professional, middle and upper middle class couples and families.
You may feel more comfortable with a home security system, but the neighbors do tend to look out for one another. In addition, thanks to the community group, the neighborhood has an excellent relationship with the Trenton Police Department. The school district is not good (not a surprise), but with these prices, you may be able to afford a good private school (Villa Victoria is close by, Solebury is drivable). Spend some time in the neighborhood and see how nice it is for yourself!