535 Monmouth St · Gloucester City, NJ 08030

$235,000

4 bd · None ba · 4,183 sqft · SingleFamily · 77 Days on market

Built 1890 5,388 sqft lot ↓ 22% 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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a giant property with excellent visibility and access just off the corner of Monmouth and Broadway with immense intrinsic value. Currently set up as a vacant Dental office, the property is zoned RCS. Seller is a dentist and prefers to take equipment with them. Awesome opportunity to potentially covert to Mixed Use with Commercial on the first floor and up to two more residential units on 2nd and 3rd floor. The building looks like it was a side-by-side duplex originally based on the framing and the exterior profile. This property is being underutilized and has plenty of room for highest and best use. Buyer to do their own due diligence to determine viability for residential conversio

Key facts

• Zoned rcs
• 5,388 sq ft lot
• Built 1890

Tags

• ZONED RCS
• COMMERCIAL ON FIRST FLOOR
• ADDITIONAL PARKING IN FREE LOT

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $221k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.5% in Gloucester City — 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 (#215 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: amenities F, commute F.
• Gloucester City Public School District (suburban): math 11% / reading 34% proficiency, ranked #413 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $2,666/mo this rent would consume 50% of the median local household income ($63k/yr) (locally 431% 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.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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: 1.13% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-7,327
• Equity at exit: $35,039

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $33,331
• Equity at exit: $20,319

Cash invested: $65,800 (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 08030

• Home prices YoY: -27.9%
• Active inventory: 90
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,666 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $482

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 77%

Sensitivity live

Price	-10% $645	-5% $563	+0% $482	+5% $401	+10% $320
Rent	-10% $272	-5% $377	+0% $482	+5% $588	+10% $693
Rate	-1.0pp $601	-0.5pp $542	base $482	+0.5pp $421	+1.0pp $359

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-10
   status Pending
2. 2026-01-30
   price $235,000
3. 2025-12-23
   listed $275,000 Active
4. 2025-11-10
   historical
5. 2025-08-08
   price $275,000
6. 2025-07-23
   listed $300,000 Active

ⓘ 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: $31,994
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,559
• − Management: −$2,559
• − Depreciation: −$6,836
• Taxable income: $2,175
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $5,265/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: Gloucester City Public School District
• NCES district ID: 3406000
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 34% ▼ -15.00%
• Median HH income: $51,231
• Composite: 20.01/100
• National rank: #8664
• State rank: #413 of 472 in NJ

Livability — Gloucester City

• Score: 72/100
• State rank: #215
• US rank: #5984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloucester City, NJ
• County: Camden County · 407,624 people
• City population: 13,217
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,217
• Household income: $63,384
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 431.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Black 7% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 13% Other Indo-European 4% Arabic 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.59%
• Current HPI: 298.9139
• 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

-21.7% since first listed

6 events — show timeline

• 2026-03-10 Pending — BRIGHT MLS
• 2026-01-30 Price Changed $235,000 BRIGHT MLS
• 2025-12-23 Listed $275,000 BRIGHT MLS
• 2025-11-10 Listing Removed — BRIGHT MLS
• 2025-08-08 Price Changed $275,000 BRIGHT MLS
• 2025-07-23 Listed $300,000 BRIGHT MLS