46 Jones Rd #104 · North Hanover, NJ 08562

$80,000

2 bd · 1.0 ba · 950 sqft · Manufactured · 45 Days on market

Built 1967 Good condition $610/mo HOA · 35% of rent

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Why this score? — see what drove the B+ 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 +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks

Move-in ready with modern upgrades throughout! The kitchen has been beautifully remodeled with a new sink and drain, tile flooring, updated lighting, refreshed cabinets with new hardware, and new window blinds. Enjoy new hardwood flooring in the living and hallway areas plus updated tile, fixtures, and lighting in the bathroom. Major systems have been serviced or repaired including a $2,500 AC and heater repair with a new blower motor, re-leveled structure, new soffit, and plumbing improvements like a flushed water heater with a new heating element and drain system. The home also features new door locks, insulated windows (except the kitchen), and sealed roof repairs after removing old chim

Key facts

• Built 1967
• Listed 44 days

Property features AI

Finance

• Other: Lease not considered
• HOA & community: HOA fee of $610 monthly; Property manager present

Exterior

• Parking: On-street parking
• Utilities: Public water; Private sewer; Electric available; Propane available; Water available
• Home design: Mobile home (single wide); Mobile pre-1976; Estimated major remodel in 2025
• Construction: Metal siding; Other foundation details; Building not winterized
• Exterior features: No basement; Above-grade other structures

Interior

• Kitchen: Built-in range; Built-in microwave; Microwave; Dishwasher; Refrigerator; Stove
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (oil-fired); Central air conditioning; Electric hot water
• Interior features: Open floor plan
• Laundry & utility: Electric dryer; Dryer (general mention)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Northern Burlington County Regional School District (rural): math 27% / reading 57% proficiency, ranked #198 of 472 in NJ (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Clarence B. Lamb Elementary School (math 22% / reading 42%, grade F, #661 of 1,303 statewide, top 54%, 294 students, 32% FRL); Northern Burlington County Regional Middle School (math 27% / reading 56%, grade F, #182 of 431 statewide, top 43%, 703 students, 13% FRL); Northern Burlington County Regional High School (math 27% / reading 58%, grade F, #166 of 399 statewide, top 42%, 1,427 students, 13% FRL).
• Market conditions: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($553 loan paydown + $6k appreciation (7.3% local appreciation)).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.20% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.11%
• DSCR: 1.54
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $50,350
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Jones Mill Rd #104	0.01mi	2/1.0	950 (0%)	14mo	$50,000	$53	88

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

Projected returns pro-forma

7.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 2.98×
• Total profit: $44,390
• Equity at exit: $57,205

10-year hold

• IRR: 25.8%
• Equity multiple: 6.31×
• Total profit: $118,940
• Equity at exit: $110,304

Cash invested: $22,400 (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 08562

• Home prices YoY: 2.5%
• Active inventory: 33
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$610
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $226

Break-even live

Break-even rent $1,472

Max offer price $80,000

Occupancy floor 82%

Sensitivity live

Price	-10% $281	-5% $254	+0% $226	+5% $198	+10% $171
Rent	-10% $87	-5% $157	+0% $226	+5% $295	+10% $365
Rate	-1.0pp $266	-0.5pp $246	base $226	+0.5pp $205	+1.0pp $184

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 E Main St Unit 5 Wrightstown, NJ	2.0	1.0	650	$1,800	$2.77	0d	1	1.21mi
1 Martha Ave Wrightstown, NJ	1.0–2.0	1.0	800	$2,250	$2.81	0d	1	1.33mi
5 E Main St Wrightstown, NJ	1.0	1.0	650	$1,075	$1.65	4d	1	1.39mi

HOA detail

• Monthly dues: $610 · $7,320/yr
• Likely covers: waterroof

Listing history 16 events

1. 2026-06-17
   days on market $80,000 Active 45 DOM
2. 2026-06-16
   days on market $80,000 Active 44 DOM
3. 2026-06-15
   days on market $80,000 Active 43 DOM
4. 2026-06-13
   days on market $80,000 Active 41 DOM
5. 2026-06-12
   days on market $80,000 Active 40 DOM
6. 2026-06-09
   days on market $80,000 Active 37 DOM
7. 2026-06-08
   days on market $80,000 Active 36 DOM
8. 2026-06-07
   days on market $80,000 Active 35 DOM
9. 2026-06-05
   days on market $80,000 Active 33 DOM
10. 2026-06-04
    days on market $80,000 Active 32 DOM
11. 2026-06-03
    days on market $80,000 Active 31 DOM
12. 2026-06-02
    days on market $80,000 Active 30 DOM
13. 2026-06-01
    days on market $80,000 Active 29 DOM
14. 2026-05-31
    days on market $80,000 Active 28 DOM
15. 2026-05-04
    listed $80,000 Active
16. 2026-05-03
    historical $80,000

ⓘ 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: $21,096
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − HOA: −$7,320
• − Depreciation: −$2,327
• Taxable income: $1,992
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $2,233/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready manufactured home features modern upgrades throughout, including a beautifully remodeled kitchen and updated bathroom. The exterior and interior are in good condition, with minor maintenance needed for gutters and deck boards.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace deck boards — Improves durability and appearance
• Both Install new blinds in kitchen — Enhances privacy and light control

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace deck boards — Improves durability and appearance ↑
• Both Install new blinds in kitchen — Enhances privacy and light control ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northern Burlington County Regional School District
• NCES district ID: 3411700
• Math proficiency: 27% ▼ -22.00%
• Reading proficiency: 57% ▼ -10.00%
• Median HH income: $82,110
• Composite: 39.1/100
• National rank: #4042
• State rank: #198 of 472 in NJ

Livability — North Hanover

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,301

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Two or more races 22% Hispanic / Latino 15% Black 6%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 84% English-only · Spanish 12% Russian/Polish/Slavic 2% Tagalog/Filipino 1%

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.34%
• Current HPI: 306.1085
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-04 Listed $80,000 BRIGHT MLS
• 2026-05-03 Coming Soon $80,000 BRIGHT MLS