242 N Broad St · Carneys Point, NJ 08069

$230,000

4 bd · 1.5 ba · 1,570 sqft · SingleFamily public records · 164 Days on market

Built 1948 7,902 sqft lot $146/sqft · 6% below area Est $244k · 6% under

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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 +22.8/30.0
• ARV discount +10.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income-producing investment! Tenant-occupied 4BR/1.5BA currently generating $2,000/month in rent, great for investors seeking immediate cash flow. Seller prefers to sell with the adjacent property (244 N Broad) for added upside. Sold as-is. Do not enter without confirmed appointment-tenant occupied.

Key facts

• 7,902 sq ft lot
• Built 1948
• Listed 163 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.1% in Carneys Point — 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 57/100 on livability (#515 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing B+; Watch: employment C-, schools D-, amenities F.
• Penns Grove-Carneys Point Regional School District (suburban): math 6% / reading 21% proficiency, ranked #462 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 101 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,717/mo this rent would consume 45% of the median local household income ($72k/yr) (locally 696% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $26k; list at $230k implies a 785% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.18% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• GRM: 7.1

CMA / ARV

• ARV (median comp): $243,747
• List price: $230,000
• Delta: -5.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 Washington Ave	0.17mi	3/1.0 (-1)	1,525 (-3%)	1mo	$350,000	$230	80
311 Pine St	0.29mi	3/2.0 (-1)	1,680 (+7%)	5mo	$290,000	$173	64
14 E Union St	0.44mi	3/2.0 (-1)	1,599 (+2%)	8mo	$331,000	$207	63
31 Elvin Ave	0.49mi	3/1.0 (-1)	1,555 (-1%)	7mo	$260,000	$167	63
111 Grove St	0.43mi	4/2.0	1,409 (-10%)	3mo	$279,900	$199	59
89 Delaware Ave	0.54mi	4/2.0	1,440 (-8%)	8mo	$280,000	$194	53
114 Guest St	0.44mi	4/1.0	1,440 (-8%)	15mo	$190,000	$132	51
111 E Del A Vue Ave	0.39mi	3/2.0 (-1)	1,350 (-14%)	11mo	$340,000	$252	42
106 W Harmony St	0.69mi	4/2.0	1,413 (-10%)	10mo	$87,500	$62	40
65 Penn St	0.64mi	3/2.0 (-1)	1,640 (+4%)	18mo	$250,000	$152	40
35 Franklin St	0.65mi	3/2.5 (-1)	1,792 (+14%)	6mo	$335,000	$187	32
92 N Virginia Ave	0.61mi	3/1.0 (-1)	1,788 (+14%)	14mo	$175,000	$98	30

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-11,790
• Equity at exit: $34,294

10-year hold

• IRR: 4.8%
• Equity multiple: 1.36×
• Total profit: $22,929
• Equity at exit: $19,886

Cash invested: $64,400 (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 08069

• Home prices YoY: -18.8%
• Active inventory: 101
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,717 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$447 /mo · $5,360/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $398

Break-even live

Break-even rent $2,213

Max offer price $230,000

Occupancy floor 80%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 Delaware Ave Penns Grove, NJ	3.0	1.0	1300	$1,900	$1.46	1d	1	0.56mi
74 Delaware Ave Penns Grove, NJ	4.0	3.0	2000	$2,900	$1.45	43d	1	0.59mi

Listing history 27 events

1. 2026-06-18
   days on market $230,000 Active 164 DOM
2. 2026-06-17
   days on market $230,000 Active 163 DOM
3. 2026-06-16
   days on market $230,000 Active 162 DOM
4. 2026-06-15
   days on market $230,000 Active 161 DOM
5. 2026-06-13
   days on market $230,000 Active 159 DOM
6. 2026-06-09
   days on market $230,000 Active 155 DOM
7. 2026-06-08
   days on market $230,000 Active 154 DOM
8. 2026-06-07
   days on market $230,000 Active 153 DOM
9. 2026-06-04
   days on market $230,000 Active 150 DOM
10. 2026-06-03
    days on market $230,000 Active 149 DOM
11. 2026-06-02
    days on market $230,000 Active 148 DOM
12. 2026-06-01
    days on market $230,000 Active 147 DOM
13. 2026-05-31
    days on market $230,000 Active 146 DOM
14. 2026-04-15
    price $230,000 300-char remark

    Show marketing remark (300 chars)

    Income-producing investment! Tenant-occupied 4BR/1.5BA currently generating $2,000/month in rent, great for investors seeking immediate cash flow. Seller prefers to sell with the adjacent property (244 N Broad) for added upside. Sold as-is. Do not enter without confirmed appointment-tenant occupied.

15. 2026-01-06
    listed $235,000 Active 300-char remark

    Show marketing remark (300 chars)

    Income-producing investment! Tenant-occupied 4BR/1.5BA currently generating $2,000/month in rent, great for investors seeking immediate cash flow. Seller prefers to sell with the adjacent property (244 N Broad) for added upside. Sold as-is. Do not enter without confirmed appointment-tenant occupied.

16. 2025-12-24
    historical $235,000 300-char remark

    Show marketing remark (300 chars)

    Income-producing investment! Tenant-occupied 4BR/1.5BA currently generating $2,000/month in rent, great for investors seeking immediate cash flow. Seller prefers to sell with the adjacent property (244 N Broad) for added upside. Sold as-is. Do not enter without confirmed appointment-tenant occupied.

17. 2020-07-07
    soldstatus $26,000 Closed 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

18. 2020-05-26
    status Pending 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

19. 2020-05-23
    historical Active Under Contract 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

20. 2020-05-12
    price $26,000 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

21. 2020-03-13
    price $37,000 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

22. 2020-03-05
    price $39,000 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

23. 2020-03-05
    status Active 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

24. 2020-02-25
    historical 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

25. 2020-02-06
    price $49,000 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

26. 2019-11-26
    listed $79,000 Active 242-char remark

    Show marketing remark (242 chars)

    A lot of potential for this cozy 4 bedroom bungalow. Living, front room, kitchen and basement and sits on a nice size lot. Property is being sold as is where is. All inspections are done at buyer's expense, seller will not activate utilities.

27. 1985-03-22
    soldstatus $35,000

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $5,360 · $447/mo
• Projected year-2 tax: $5,543 · $462/mo
• Expected delta: +$184/yr (+$15/mo · 3.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $32,605
• − Mortgage interest: −$12,884
• − Property taxes: −$5,360
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,608
• − Management: −$2,608
• − Depreciation: −$6,691
• Taxable income: $1,304
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $4,462/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: Penns Grove-Carneys Point Regional School District
• NCES district ID: 3412840
• Math proficiency: 6% ▼ -16.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $44,930
• Composite: 11.98/100
• National rank: #9665
• State rank: #462 of 472 in NJ

Livability — Carneys Point

• Score: 57/100
• State rank: #515
• US rank: #21958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carneys Point, NJ
• County: Salem County · 24,175 people
• City population: 13,413
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,413
• Household income: $71,942
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 696.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 22% Black 22% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.07%
• Current HPI: 290.3853
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+557.1% since first listed

14 events — show timeline

• 2026-04-15 Price Changed $230,000 BRIGHT MLS
• 2026-01-06 Listed $235,000 BRIGHT MLS
• 2025-12-24 Coming Soon $235,000 BRIGHT MLS
• 2020-07-07 Sold (MLS) $26,000 BRIGHT MLS
• 2020-05-26 Pending — BRIGHT MLS
• 2020-05-23 Contingent — BRIGHT MLS
• 2020-05-12 Price Changed $26,000 BRIGHT MLS
• 2020-03-13 Price Changed $37,000 BRIGHT MLS
• 2020-03-05 Price Changed $39,000 BRIGHT MLS
• 2020-03-05 Relisted — BRIGHT MLS
• 2020-02-25 Listing Removed — BRIGHT MLS
• 2020-02-06 Price Changed $49,000 BRIGHT MLS
• 2019-11-26 Listed $79,000 BRIGHT MLS
• 1985-03-22 Sold (Public Records) $35,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $5,360 · +12.3% YoY. Source: county tax records.