613-615 S New York Rd · Absecon Highlands, NJ 08205

$199,000

6 bd · 0.0 ba · — sqft · SingleFamily · 190 Days on market

Built 1900 Poor condition 0.43 ac lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wow! Redevelopment opportunity in a designated Redevelopment Zone! 613 & 615 S New York Ave are being sold together—but will not be sold individually—even though each parcel holds a separate deed. Originally used as a boarding house, these lots offer strong potential for adaptive reuse or ground-up development. Concept plans are available for potential townhome development, with additional options under Galloway Township's Redevelopment Plan. Although currently deed-restricted for moderate to affordable housing, opportunity still exists for strategic redevelopment aligned with township goals.

Key facts

• 0.43 acre lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath single-family listed at $199k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 240 active listings in the ZIP; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 45% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 11 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.75% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.51%
• DSCR: 2.31
• GRM: 4.8

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: 24.0%
• Equity multiple: 1.99×
• Total profit: $55,067
• Equity at exit: $29,672

10-year hold

• IRR: 31.9%
• Equity multiple: 3.88×
• Total profit: $160,527
• Equity at exit: $17,206

Cash invested: $55,720 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 240
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,475 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $1,370

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,508	-5% $1,439	+0% $1,370	+5% $1,301	+10% $1,233
Rent	-10% $1,096	-5% $1,233	+0% $1,370	+5% $1,507	+10% $1,645
Rate	-1.0pp $1,470	-0.5pp $1,421	base $1,370	+0.5pp $1,319	+1.0pp $1,266

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   days on market $199,000 Active 190 DOM
2. 2026-06-18
   days on market $199,000 Active 189 DOM
3. 2026-06-17
   days on market $199,000 Active 188 DOM
4. 2026-06-16
   days on market $199,000 Active 187 DOM
5. 2026-06-15
   days on market $199,000 Active 186 DOM
6. 2026-06-14
   days on market $199,000 Active 184 DOM
7. 2026-06-13
   days on market $199,000 Active 183 DOM
8. 2026-06-10
   days on market $199,000 Active 181 DOM
9. 2026-06-09
   days on market $199,000 Active 180 DOM
10. 2026-06-08
    days on market $199,000 Active 179 DOM
11. 2026-06-07
    days on market $199,000 Active 178 DOM
12. 2026-06-03
    days on market $199,000 Active 174 DOM
13. 2026-06-02
    days on market $199,000 Active 173 DOM
14. 2026-06-01
    days on market $199,000 Active 172 DOM
15. 2026-05-31
    days on market $199,000 Active 171 DOM
16. 2026-05-30
    days on market $199,000 Active 170 DOM
17. 2025-12-11
    listed $199,000 Active 617-char remark

    Show marketing remark (613 chars)

    Wow! Redevelopment opportunity in a designated Redevelopment Zone! 613 & 615 S New York Ave are being sold together—but will not besold individually—even though each parcel holds a separate deed. Originally used as a boarding house, these lots offer strong potential foradaptive reuse or ground-up development. Concept plans are available for potential townhome development, with additional options underGalloway Township's Redevelopment Plan. Although currently deed-restricted for moderate to affordable housing, opportunity still exists forstrategic redevelopment aligned with township goals.

18. 2025-12-11
    listed $199,000 Active 613-char remark

    Show marketing remark (613 chars)

    Wow! Redevelopment opportunity in a designated Redevelopment Zone! 613 & 615 S New York Ave are being sold together—but will not besold individually—even though each parcel holds a separate deed. Originally used as a boarding house, these lots offer strong potential foradaptive reuse or ground-up development. Concept plans are available for potential townhome development, with additional options underGalloway Township's Redevelopment Plan. Although currently deed-restricted for moderate to affordable housing, opportunity still exists forstrategic redevelopment aligned with township goals.

19. 2025-12-10
    historical
20. 2025-12-10
    historical
21. 2025-12-10
    historical
22. 2025-12-10
    historical
23. 2025-12-04
    listed $199,000 Active
24. 2025-08-21
    historical
25. 2025-08-21
    historical
26. 2025-07-11
    listed $199,000 Active
27. 2025-07-11
    listed $199,000 Active
28. 2025-07-11
    listed $199,000 Active
29. 2025-07-11
    listed $199,000 Active
30. 2025-07-11
    historical
31. 2025-07-11
    historical
32. 2025-06-19
    price $99,000
33. 2025-06-19
    price $399,000
34. 2025-06-18
    price $399,000
35. 2025-06-18
    price $99,000
36. 2025-05-16
    listed $499,000 Active
37. 2025-05-16
    listed $159,000 Active
38. 2025-04-14
    listed $499,000 Active
39. 2025-04-13
    listed $159,000 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: $41,701
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,336
• − Management: −$3,336
• − Depreciation: −$5,789
• Taxable income: $14,113
• Est. tax owed @ 24.0%: −$3,387
• After-tax cash flow: $13,054/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance to bring it up to a livable condition. Significant structural and aesthetic improvements are needed to increase its resale and rental value.

Repairs flagged

• Major Exposed subfloor in kitchen and bath — Structural damage
• Major Boarded-up windows — Security and weather protection
• Major Missing shingles on roof — Leakage and safety hazard
• Major Peeling paint on exterior and interior — Aesthetic and safety hazard
• Major Structural damage to foundation — Stability and safety hazard

Value-add opportunities

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Replace missing shingles — Prevents water damage and improves safety
• Both Board up windows — Improves security and weather protection
• Both Replace exposed subfloor — Prevents further structural damage and improves safety
• Both Inspect and repair foundation — Ensures structural stability and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed subfloor in kitchen and bath · Structural damage	Major	$15,000–50,000
Boarded-up windows · Security and weather protection	Major	$15,000–50,000
Missing shingles on roof · Leakage and safety hazard	Major	$15,000–50,000
Peeling paint on exterior and interior · Aesthetic and safety hazard	Major	$15,000–50,000
Structural damage to foundation · Stability and safety hazard	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace missing shingles — Prevents water damage and improves safety ↑
• Both Board up windows — Improves security and weather protection ↑
• Both Replace exposed subfloor — Prevents further structural damage and improves safety ↑
• Both Inspect and repair foundation — Ensures structural stability and safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Absecon Highlands

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Absecon Highlands, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 28,877
• Household income: $93,370
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 732.0

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 0.58)
• Race & ethnicity: White 62% Hispanic / Latino 14% Two or more races 12% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 7% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 7% Russian/Polish/Slavic 3%

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: ▼ -44.12%
• Current HPI: 315.4814
• 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

+25.2% since first listed

23 events — show timeline

• 2025-12-11 Listed $199,000 SJSRMLS
• 2025-12-11 Listed $199,000 BRIGHT MLS
• 2025-12-10 Listing Removed — BRIGHT MLS
• 2025-12-10 Listing Removed — BRIGHT MLS
• 2025-12-10 Listing Removed — SJSRMLS
• 2025-12-10 Listing Removed — SJSRMLS
• 2025-12-04 Listed $199,000 GSMLS
• 2025-08-21 Listing Removed — SJSRMLS
• 2025-08-21 Listing Removed — BRIGHT MLS
• 2025-07-11 Listing Removed — BRIGHT MLS
• 2025-07-11 Listing Removed — SJSRMLS
• 2025-07-11 Listed $199,000 BRIGHT MLS
• 2025-07-11 Listed $199,000 BRIGHT MLS
• 2025-07-11 Listed $199,000 SJSRMLS
• 2025-07-11 Listed $199,000 SJSRMLS
• 2025-06-19 Price Changed $99,000 SJSRMLS
• 2025-06-19 Price Changed $399,000 SJSRMLS
• 2025-06-18 Price Changed $399,000 BRIGHT MLS
• 2025-06-18 Price Changed $99,000 BRIGHT MLS
• 2025-05-16 Listed $159,000 BRIGHT MLS
• 2025-05-16 Listed $499,000 BRIGHT MLS
• 2025-04-14 Listed $499,000 SJSRMLS
• 2025-04-13 Listed $159,000 SJSRMLS