1616 Pennsylvania Ave #257 · Vineland, NJ 08361

$170,000

3 bd · 2.0 ba · 1,792 sqft · SingleFamily · 274 Days on market

Built 1998 Est $165k · at est. ↓ 3% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +6.1/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Sale and Agreements are subject to the application approval / process by Berryman's Branch. A fantastic opportunity to own a spacious home without the inflated price point. Welcome to a large corner property with plenty of space. You will find peace of mind with a Newer Roof replaced about 3 and a Half Years Ago, New Breaker Panel installed just a little over a year, And a New HVAC System replaced just last summer. You will also find additional living space open to the Dining area and large Kitchen separate from the main formal living space. A Large private Main Suite with a walk-in shower & larger closet. The additional 2 Bedrooms are on the opposite side of the home with an extra Fu

Key facts

• 2 parking spots
• Community pool
• Built 1998

Property features AI

Finance

• Other: Not in a federal flood zone; Ownership: Land lease; Property condition: Very good
• HOA & community: Land lease amount: $939 monthly; Pets allowed with no pet restrictions; Community pool

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Natural gas available; Hot water: natural gas; Cable TV
• Home design: Manufactured / modular double-wide home; Level entry; Estimated year built
• Construction: Asphalt roof; Manufactured construction; Above-grade structures
• Exterior features: Porch (enclosed); Shed; Lawn sprinkler; Sidewalks; Street lights; Corner lot with front, rear and side yards; Community in-ground fenced pool

Interior

• Kitchen: Electric oven/range; Stainless steel appliances; Dishwasher; Garbage disposal; Microwave
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate; Partially carpeted; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (natural gas); Central air conditioning (natural gas)
• Interior features: Family room off the kitchen; Ceiling fan(s); Breakfast area; Pantry; Drywall walls and ceilings
• Laundry & utility: Laundry on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.5% in Vineland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Vineland Public School District (urban): math 9% / reading 34% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 87 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.57%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $164,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1616 Pennsylvania Ave Unit 137 BLUEBERRY	0.02mi	3/2.0	1,800 (+0%)	5mo	$160,000	$89	94
1616 Pennsylvania Ave #218	0.01mi	3/2.0	1,850 (+3%)	3mo	$184,900	$100	92
1616 Pennsylvania Ave #208	0.13mi	3/2.0	1,850 (+3%)	3mo	$170,000	$92	86
1616 Pennsylvania Ave #174	0.19mi	3/2.0	1,736 (-3%)	1mo	$163,000	$94	85
1616 Pennsylvania #256	0.18mi	3/2.0	1,800 (+0%)	13mo	$170,000	$94	80
1616 Pennsylvania Ave #224	0.04mi	3/2.0	1,904 (+6%)	10mo	$175,000	$92	79
1616 Pennsylvania Ave #243	0.04mi	3/2.0	1,902 (+6%)	12mo	$160,000	$84	78
1616 Pennsylvania Ave #278	0.21mi	4/2.0 (+1)	1,820 (+2%)	10mo	$166,500	$91	74
3717 Nathan Ln	0.36mi	3/2.5	1,710 (-5%)	6mo	$439,900	$257	68
1616 Pennsylvania Ave Unit 248 CHERRY LANE	0.04mi	3/2.0	1,568 (-12%)	11mo	$130,000	$83	68
1616 Pennsylvania Ave Unit 292 CHERRY	0.17mi	3/2.0	1,560 (-13%)	8mo	$100,000	$64	64
2550 Hance Bridge Rd	0.71mi	3/1.5	1,544 (-14%)	12mo	$509,000	$330	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $14,357
• Equity at exit: $25,348

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $66,558
• Equity at exit: $14,698

Cash invested: $47,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 08361

• Active inventory: 87
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,319 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $657

Break-even live

Break-even rent $1,487

Max offer price $170,000

Occupancy floor 67%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $170,000 Active 274 DOM
2. 2026-06-18
   days on market $170,000 Active 273 DOM
3. 2026-06-17
   days on market $170,000 Active 272 DOM
4. 2026-06-16
   days on market $170,000 Active 271 DOM
5. 2026-06-15
   days on market $170,000 Active 270 DOM
6. 2026-06-14
   days on market $170,000 Active 268 DOM
7. 2026-06-13
   days on market $170,000 Active 267 DOM
8. 2026-06-10
   days on market $170,000 Active 265 DOM
9. 2026-06-09
   days on market $170,000 Active 264 DOM
10. 2026-06-08
    days on market $170,000 Active 263 DOM
11. 2026-06-07
    days on market $170,000 Active 262 DOM
12. 2026-06-03
    days on market $170,000 Active 258 DOM
13. 2026-06-02
    days on market $170,000 Active 257 DOM
14. 2026-06-01
    days on market $170,000 Active 256 DOM
15. 2026-05-31
    days on market $170,000 Active 255 DOM
16. 2026-05-30
    days on market $170,000 Active 254 DOM
17. 2026-03-18
    price $170,000
18. 2025-09-19
    listed $175,000 Active
19. 2025-09-17
    historical $175,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,831
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$2,226
• − Management: −$2,226
• − Depreciation: −$4,945
• Taxable income: $5,510
• Est. tax owed @ 24.0%: −$1,322
• After-tax cash flow: $6,566/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

Amenities F Commute F Cost of living C Crime F Employment D+ Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• City population: 45,038
• Population (ZIP): 18,375

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 13% Black 10% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 9% · Canada
• Languages at home: 75% English-only · Spanish 16% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.80%
• Current HPI: 291.3404
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

-2.9% since first listed

3 events — show timeline

• 2026-03-18 Price Changed $170,000 BRIGHT MLS
• 2025-09-19 Listed $175,000 BRIGHT MLS
• 2025-09-17 Coming Soon $175,000 BRIGHT MLS