120 Highland Ave

Barrington, NJ 08035

$687,000C

5 bd · 3.5 ba · 2,960 sqft · Built 1965 · SingleFamily · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,500/mo
• Mortgage (P&I): −$3,603
• Tax + insurance: −$1,518
• HOA: −$0
• Vac / Maint / Mgmt: −$1,575
• Net cashflow: $804/mo
• Annual: $9,651/yr
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• 1% rule: 1.09%
• Cash to close: $192,360

Investor read

• This is a 5-bed/3.5-bath single-family listed at $687k.
• At list price, monthly cash flow is $804 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $687k).
• It's been on market 70 days — a 6% lower offer ($646k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $646k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#63 in NJ, #1,562 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F.
• Barrington School District (suburban): math 18% / reading 42% proficiency, ranked #338 of 472 in NJ (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Avon Elementary School (math 22% / reading 37%, grade F, #731 of 1,303 statewide, top 59%, 310 students, 26% FRL); Woodland Middle School (math 17% / reading 43%, grade F, #313 of 431 statewide, top 73%, 245 students, 27% FRL).
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 17 sale attempts since 24y ago 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.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.