1542 Thomas Jefferson Ct #1542 · Mays Landing, NJ 08330

$215,000

2 bd · 2.0 ba · 994 sqft · Condo · 54 Days on market

Built 2000 $216/sqft · 14% below area Est $250k · 14% under $283/mo HOA · 14% of rent

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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).

• ARV discount +13.9/15.0
• Appreciation +10.0/10.0
• Cash flow +9.3/30.0
• 1% rule +4.5/10.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Gorgeous 16x16 Italian tile and berber carpet help highlight this beautiful unit. Master has private bath, walk-in kit w/ blt in counter, and nice yard, in quaint and quiet setting. .. PRICED TO SELL QUICKLY!!!!

Key facts

• First-floor condo
• Kitchen cabinets
• Functional layout

Tags

• FIRST-FLOOR CONDO
• FULL-SIZE WASHER AND DRYER
• FUNCTIONAL LAYOUT
• KITCHEN CABINETS
• WELL MAINTAINED COMMUNITY
• HEART OF MAYS LANDING

Property features AI

Finance

• Other: Pets allowed with restrictions
• HOA & community: Monthly association fee of $283; Association maintains management, sewer, trash, water, pool, and maintenance; Common clubhouse/clubroom

Exterior

• Parking: Off-site parking available; No garage
• Utilities: Public water; Public sewer
• Home design: Condominium (Mays Ldg Vill); 2-story building; Unit is on the first floor; Unit has 1 interior level; Zoned GA-I
• Construction: Approximately 21–25 years old
• Exterior features: Brick exterior; No waterfront

Interior

• Kitchen: Gas stove; Dishwasher; Refrigerator
• Bedrooms: Unit located on the first floor; Single-level unit
• Flooring: Hardwood floors; Wall-to-wall carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dishwasher; Dryer; Gas stove; Refrigerator; Washer; Hardwood floors; Wall-to-wall carpet; Pets allowed (subject to restrictions)
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (5.2% below list).
• Recommended offer: $192k (10.6% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 4.0% in Mays Landing — 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 72/100 on livability (#214 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety B+; Watch: commute C-, cost of living D+, amenities F.
• Hamilton Township School District (suburban): math 9% / reading 37% proficiency, ranked #401 of 472 in NJ (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 244 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $18k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 79% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,127 (10.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.15%
• DSCR: 0.86
• GRM: 8.8

CMA / ARV

• ARV (median comp): $250,365
• List price: $215,000
• Delta: -14.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.78×
• Total profit: $107,232
• Equity at exit: $193,689

10-year hold

• IRR: 19.9%
• Equity multiple: 6.38×
• Total profit: $324,104
• Equity at exit: $417,698

Cash invested: $60,200 (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 08330

• Home prices YoY: 3.9%
• Active inventory: 244
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,039 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$283
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-158

Break-even live

Break-even rent $2,239

Max offer price $192,127

Occupancy floor —

Sensitivity live

Price	-10% $-9	-5% $-84	+0% $-158	+5% $-232	+10% $-307
Rent	-10% $-319	-5% $-239	+0% $-158	+5% $-78	+10% $3
Rate	-1.0pp $-50	-0.5pp $-103	base $-158	+0.5pp $-214	+1.0pp $-270

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1932 Cologne Ave Mays Landing, NJ	1.0–2.0	1.0–2.0	775	$1,825	$2.35	14d	1	0.98mi
5303 Harding Hwy #305 Mays Landing, NJ	1.0	1.0	965	$1,675	$1.74	14d	1	1.36mi

HOA detail condo

• Monthly dues: $283 · $3,396/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $215,000 Under Contract 54 DOM
2. 2026-06-19
   days on market $215,000 Under Contract 52 DOM
3. 2026-06-18
   days on market $215,000 Under Contract 51 DOM
4. 2026-06-17
   days on market $215,000 Under Contract 50 DOM
5. 2026-06-16
   statusdays on market $215,000 Under Contract 49 DOM
6. 2026-06-15
   days on market $215,000 Active 48 DOM
7. 2026-06-14
   days on market $215,000 Active 46 DOM
8. 2026-06-13
   days on market $215,000 Active 45 DOM
9. 2026-06-10
   days on market $215,000 Active 43 DOM
10. 2026-06-09
    days on market $215,000 Active 42 DOM
11. 2026-06-09
    remarks 699-char remark
12. 2026-06-09
    price $215,000 Active 41 DOM
13. 2026-06-08
    days on market $232,500 Active 41 DOM
14. 2026-06-07
    days on market $232,500 Active 40 DOM
15. 2026-06-03
    days on market $232,500 Active 36 DOM
16. 2026-06-02
    days on market $232,500 Active 35 DOM
17. 2026-06-01
    days on market $232,500 Active 34 DOM
18. 2026-05-31
    days on market $232,500 Active 33 DOM
19. 2026-05-30
    days on market $232,500 Active 32 DOM
20. 2026-04-28
    listed $232,500 Active 673-char remark
21. 2006-06-02
    soldstatus $185,000 211-char remark

    Show marketing remark (211 chars)

    Gorgeous 16x16 Italian tile and berber carpet help highlight this beautiful unit. Master has private bath, walk-in kit w/ blt in counter, and nice yard, in quaint and quiet setting. .. PRICED TO SELL QUICKLY!!!!

22. 2006-04-10
    historical 211-char remark

    Show marketing remark (211 chars)

    Gorgeous 16x16 Italian tile and berber carpet help highlight this beautiful unit. Master has private bath, walk-in kit w/ blt in counter, and nice yard, in quaint and quiet setting. .. PRICED TO SELL QUICKLY!!!!

23. 2006-03-04
    listed $187,900 211-char remark

    Show marketing remark (211 chars)

    Gorgeous 16x16 Italian tile and berber carpet help highlight this beautiful unit. Master has private bath, walk-in kit w/ blt in counter, and nice yard, in quaint and quiet setting. .. PRICED TO SELL QUICKLY!!!!

24. 2004-03-19
    soldstatus $138,000

    Show marketing remark (264 chars)

    Absolutely gorgeous! 1st flr unit, 4 yrs old-magnificant 16 x 16 tile from Italy thru-out except both bdrms have Berber carpet. Brand new ceiling fans-upgraded kit, nice yard. Master has private bath & WIC, kitchen has blt in counter. Quick settlement. Hurry

25. 2004-02-26
    historical

    Show marketing remark (264 chars)

    Absolutely gorgeous! 1st flr unit, 4 yrs old-magnificant 16 x 16 tile from Italy thru-out except both bdrms have Berber carpet. Brand new ceiling fans-upgraded kit, nice yard. Master has private bath & WIC, kitchen has blt in counter. Quick settlement. Hurry

26. 2004-01-27
    listed $138,000

    Show marketing remark (264 chars)

    Absolutely gorgeous! 1st flr unit, 4 yrs old-magnificant 16 x 16 tile from Italy thru-out except both bdrms have Berber carpet. Brand new ceiling fans-upgraded kit, nice yard. Master has private bath & WIC, kitchen has blt in counter. Quick settlement. Hurry

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 79% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,467
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − HOA: −$3,396
• − Depreciation: −$6,255
• Taxable loss: −$5,442
• Est. tax savings @ 24.0%: +$1,306
• After-tax cash flow: $-591/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: Hamilton Township School District
• NCES district ID: 3406510
• Math proficiency: 9% ▼ -20.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $60,997
• Composite: 21.34/100
• National rank: #8372
• State rank: #401 of 472 in NJ

Livability — Mays Landing

• Score: 72/100
• State rank: #214
• US rank: #5982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mays Landing, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 29,972
• Household income: $77,167
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1003.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 16% Black 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 84% English-only · Spanish 10% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.58%
• Current HPI: 308.5148
• Rent YoY: —
• Metro: Atlantic City-Hammonton, NJ
• 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

+55.8% since first listed

9 events — show timeline

• 2026-06-16 Contingent — SJSRMLS
• 2026-06-08 Price Changed $215,000 SJSRMLS
• 2026-04-28 Listed $232,500 SJSRMLS
• 2006-06-02 Sold (MLS) $185,000 SJSRMLS
• 2006-04-10 Listing Removed — SJSRMLS
• 2006-03-04 Listed $187,900 SJSRMLS
• 2004-03-19 Sold (MLS) $138,000 SJSRMLS
• 2004-02-26 Listing Removed — SJSRMLS
• 2004-01-27 Listed $138,000 SJSRMLS