107 Tartan Ln

Moorestown-Lenola, NJ 08036

$105,109B

2 bd · 1.5 ba · 1,030 sqft · Built 2000 · Townhouse · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,233/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$225
• HOA: −$146
• Vac / Maint / Mgmt: −$469
• Net cashflow: $842/mo
• Annual: $10,106/yr
• Cap rate: 15.91%
• Cash-on-cash: 34.34%
• DSCR: 2.53
• 1% rule: 2.12%
• Cash to close: $29,431

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $105k.
• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.4%/yr); year-one equity from $727 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hainesport Township School District (suburban): math 27% / reading 53% proficiency, ranked #205 of 472 in NJ (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 33 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts 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 $32; list at $105k implies a 328366% gain — meaningful room to come down on a strong offer.
• At projected returns (-1.4% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 56% 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.
• Cap rate 15.9% vs local median 3.0% in Moorestown-Lenola — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.