316 Garnet Dr Unit 3B · Burlington, NJ 08016

$115,000

1 bd · 1.0 ba · 770 sqft · Townhouse public records · 35 Days on market

Built 1969 Est $121k · at est. $506/mo HOA · 29% 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).

• Cash flow +19.8/30.0
• 1% rule +10.0/10.0
• ARV discount +9.7/15.0
• DSCR +6.3/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained and move-in ready condo in the desirable Rosewood community of Burlington Township! This charming 2-bedroom, 1-bath unit offers a bright and open living space with plenty of natural light, spacious bedrooms, and a functional layout perfect for comfortable everyday living. Enjoy a cozy living room, an updated kitchen with ample cabinet space, and a private balcony ideal for relaxing outdoors. Conveniently located near shopping, restaurants, major highways, and public transportation for an easy commute. Association amenities include exterior maintenance, lawn care, snow removal, and more. A great opportunity for first-time buyers, downsizers, or investors!

Key facts

• Private balcony
• Updated kitchen
• $506 HOA

Tags

• UPDATED KITCHEN
• PRIVATE BALCONY
• ASSOCIATION AMENITIES

Property features AI

Finance

• Other: Pets allowed with size/weight restrictions
• HOA & community: HOA fee $506 per month; Condo/co-op fee frequency: unknown (fee noted monthly)

Exterior

• Parking: Assigned parking space in a parking lot (1 total assigned)
• Utilities: Public water; Public sewer
• Home design: Condominium ownership; Interior townhouse/rowhouse; 770 finished square feet above grade
• Construction: Brick construction; Concrete perimeter foundation; Asphalt, shingle and slate roof
• Exterior features: No tidal water; Other structures both above and below grade

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating (natural gas); Wall unit cooling (electric); Natural gas hot water
• Interior features: No basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.9% in Burlington — 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 78/100 on livability (#89 in NJ, #2,359 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F.
• Burlington Township School District (suburban): math 20% / reading 50% proficiency, ranked #258 of 472 in NJ (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: B. Bernice Young Elementary School (577 students, 31% FRL); Burlington Township Middle School At Springside (math 21% / reading 54%, grade F, #217 of 431 statewide, top 51%, 822 students, 29% FRL); Burlington Township High School (math 30% / reading 56%, grade F, #163 of 399 statewide, top 41%, 1,187 students, 27% FRL).
• Market conditions: 179 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $115k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1969 — 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: 1.53% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $120,890
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Garnet Dr	0.01mi	1/1.0	770 (0%)	13mo	$121,000	$157	89
311 Garnet Dr	0.01mi	1/1.0	746 (-3%)	22mo	$90,000	$121	76
1207 Megans Ln	0.24mi	2/1.0 (+1)	757 (-2%)	18mo	$229,900	$304	66

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-9,583
• Equity at exit: $17,147

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $4,167
• Equity at exit: $9,943

Cash invested: $32,200 (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 08016

• Home prices YoY: -21.8%
• Active inventory: 179
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$603
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$48
• HOA: −$506
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $137

Break-even live

Break-even rent $1,587

Max offer price $115,000

Occupancy floor 87%

Sensitivity live

Price	-10% $202	-5% $170	+0% $137	+5% $105	+10% $72
Rent	-10% $-2	-5% $68	+0% $137	+5% $207	+10% $276
Rate	-1.0pp $195	-0.5pp $167	base $137	+0.5pp $107	+1.0pp $77

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 Garnet Dr Burlington, NJ	2.0	1.0	956	$1,900	$1.99	16d	1	0.06mi
511 Garnet Dr Burlington, NJ	2.0	1.5	1052	$1,950	$1.85	26d	1	0.08mi
1508 Mt Holly Rd Burlington, NJ	1.0	1.0	570	$781	$1.37	26d	1	0.34mi
106 Whaler Way Burlington, NJ	1.0–3.0	1.0	932	$1,949	$2.09	0d	1	0.89mi
815 High St Burlington, NJ	1.0	1.0	850	$1,700	$2.00	26d	1	1.13mi
1701 Salem Rd Burlington, NJ	1.0–2.0	1.0	730	$1,525	$2.09	0d	2	1.23mi

HOA detail

• Monthly dues: $506 · $6,072/yr
• Likely covers: landscapingsnow removalexterior maint.

Listing history 19 events

1. 2026-06-21
   pricedays on market $115,000 Active 35 DOM
2. 2026-06-18
   days on market $125,000 Active 32 DOM
3. 2026-06-17
   days on market $125,000 Active 31 DOM
4. 2026-06-16
   days on market $125,000 Active 30 DOM
5. 2026-06-15
   days on market $125,000 Active 29 DOM
6. 2026-06-13
   days on market $125,000 Active 27 DOM
7. 2026-06-09
   days on market $125,000 Active 23 DOM
8. 2026-06-08
   pricedays on market $125,000 Active 22 DOM
9. 2026-06-07
   days on market $130,000 Active 21 DOM
10. 2026-06-04
    days on market $130,000 Active 18 DOM
11. 2026-06-03
    days on market $130,000 Active 17 DOM
12. 2026-06-02
    days on market $130,000 Active 16 DOM
13. 2026-06-01
    days on market $130,000 Active 15 DOM
14. 2026-05-31
    days on market $130,000 Active 14 DOM
15. 2026-05-17
    listed $130,000 Active
16. 2021-04-22
    soldstatus $74,400
17. 2013-09-16
    soldstatus $35,000
18. 1995-09-07
    soldstatus $42,500
19. 1990-10-30
    soldstatus $50,900

ⓘ 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: $1,156 · $96/mo
• Projected year-2 tax: $2,010 · $167/mo
• Expected delta: +$854/yr (+$71/mo · 73.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,123
• − Mortgage interest: −$6,442
• − Property taxes: −$1,156
• − Insurance: −$575
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − HOA: −$6,072
• − Depreciation: −$3,345
• Taxable income: $153
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $1,611/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: Burlington Township School District
• NCES district ID: 3402460
• Math proficiency: 20% ▼ -22.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $82,078
• Composite: 33.29/100
• National rank: #5508
• State rank: #258 of 472 in NJ

Livability — Burlington

• Score: 78/100
• State rank: #89
• US rank: #2359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Burlington County · 323,710 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 34,920
• Household income: $98,463
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 1045.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 33% Two or more races 10% Hispanic / Latino 9% Asian 7%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 84% English-only · Spanish 4% Other Indo-European 4% French/Haitian/Cajun 2%

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: ▼ -83.42%
• Current HPI: 298.7935
• 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

+155.4% since first listed

5 events — show timeline

• 2026-05-17 Listed $130,000 BRIGHT MLS
• 2021-04-22 Sold (Public Records) $74,400 Public Records
• 2013-09-16 Sold (Public Records) $35,000 Public Records
• 1995-09-07 Sold (Public Records) $42,500 Public Records
• 1990-10-30 Sold (Public Records) $50,900 Public Records

Property tax history

-0.7%/yr

Latest (2025): $1,156 · +0.6% YoY. Source: county tax records.