152 Broad St · Carneys Point, NJ 08069

$218,762

4 bd · 2.0 ba · — sqft · MultiFamily · 103 Days on market

Built 1950 Poor condition Est $192k · 14% over

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +7.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +1.5/5.0
• ARV discount +1.3/15.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent potential. This Home is a pre-foreclosure and needs work. Septic system needs replacement. Send all offers!!

Key facts

• Built 1950
• Listed 102 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $219k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $199k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 5.1% in Carneys Point — 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 57/100 on livability (#515 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing B+; Watch: employment C-, schools D-, amenities F.
• Penns Grove-Carneys Point Regional School District (suburban): math 6% / reading 21% proficiency, ranked #462 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 101 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• At $2,722/mo this rent would consume 45% of the median local household income ($72k/yr) (locally 696% 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.
• Salem County population projected at -23% 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 $61k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($199k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $199,073 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% 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 1950 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.50%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $192,278
• List price: $218,762
• Delta: 13.77%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
94 N Virginia Ave	0.39mi	3/2.0 (-1)	1,176	9mo	$110,000	$94	57
303 Pine St	0.53mi	3/2.0 (-1)	1,346	4mo	$245,000	$182	55
26 State St	0.51mi	4/—	3,360	11mo	$277,000	$82	54
14 Railroad Ave	0.53mi	4/2.5	2,537	10mo	$270,000	$106	53
118 E Del A Vue Ave	0.55mi	5/2.0 (+1)	1,800	15mo	$212,000	$118	44
8-10 S Smith Ave	0.60mi	4/2.0	1,921	20mo	$220,000	$115	43
92-94 Railroad Ave	0.59mi	5/— (+1)	2,628	16mo	$225,000	$86	41

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $5,242
• Equity at exit: $32,618

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $57,075
• Equity at exit: $18,915

Cash invested: $61,253 (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 08069

• Home prices YoY: -18.8%
• Active inventory: 101
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,722 medium
• Mortgage (P&I): −$1,147
• Tax est. 1.5%: −$273 /mo · $3,281/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $638

Break-even live

Break-even rent $1,914

Max offer price $218,762

Occupancy floor 72%

Sensitivity live

Price	-10% $789	-5% $714	+0% $638	+5% $563	+10% $487
Rent	-10% $423	-5% $531	+0% $638	+5% $746	+10% $853
Rate	-1.0pp $748	-0.5pp $694	base $638	+0.5pp $582	+1.0pp $524

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: $54,690
• Closing costs: $6,563
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
79 Delaware Ave Penns Grove, NJ	3.0	1.0	1300	$1,900	$1.46	1d	1	0.38mi
74 Delaware Ave Penns Grove, NJ	4.0	3.0	2000	$2,900	$1.45	44d	1	0.41mi

Listing history 14 events

1. 2026-06-18
   days on market $218,762 Active 103 DOM
2. 2026-06-17
   days on market $218,762 Active 102 DOM
3. 2026-06-16
   days on market $218,762 Active 101 DOM
4. 2026-06-15
   days on market $218,762 Active 100 DOM
5. 2026-06-13
   days on market $218,762 Active 98 DOM
6. 2026-06-09
   days on market $218,762 Active 94 DOM
7. 2026-06-08
   days on market $218,762 Active 93 DOM
8. 2026-06-07
   days on market $218,762 Active 92 DOM
9. 2026-06-04
   days on market $218,762 Active 89 DOM
10. 2026-06-03
    days on market $218,762 Active 88 DOM
11. 2026-06-02
    days on market $218,762 Active 87 DOM
12. 2026-06-01
    days on market $218,762 Active 86 DOM
13. 2026-05-31
    days on market $218,762 Active 85 DOM
14. 2026-03-06
    listed $218,762 Active 118-char remark

    Show marketing remark (118 chars)

    Excellent potential. This Home is a pre-foreclosure and needs work. Septic system needs replacement. Send all offers!!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 62% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,659
• − Mortgage interest: −$12,254
• − Property taxes: −$3,281
• − Insurance: −$1,094
• − Repairs & maintenance: −$2,613
• − Management: −$2,613
• − Depreciation: −$6,364
• Taxable income: $4,440
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $6,593/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 · 5 photos

Poor 30/100 Extensive rehab

This pre-foreclosure property requires extensive repairs and updates to its exterior, interior, and landscaping to become move-in ready and increase its value.

Repairs flagged

• Major Siding — Significant wear and tear
• Major Porch — Debris and clutter
• Major Living room — Clutter and outdated decor
• Major Bathroom — Outdated fixtures and small space
• Major Landscaping — Overgrown lawn and debris

Value-add opportunities

• Both Paint and interior updates — Fresh paint and updated decor can significantly improve the home's appeal
• Both Landscaping and curb appeal — A well-maintained lawn and curb appeal can attract more buyers
• Both Bathroom renovation — A modern, spacious bathroom can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · Significant wear and tear	Major	$15,000–50,000
Porch · Debris and clutter	Major	$15,000–50,000
Living room · Clutter and outdated decor	Major	$15,000–50,000
Bathroom · Outdated fixtures and small space	Major	$15,000–50,000
Landscaping · Overgrown lawn and debris	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint and interior updates — Fresh paint and updated decor can significantly improve the home's appeal ↑
• Both Landscaping and curb appeal — A well-maintained lawn and curb appeal can attract more buyers ↑
• Both Bathroom renovation — A modern, spacious bathroom can increase both resale and rental value ↑

ⓘ 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: Penns Grove-Carneys Point Regional School District
• NCES district ID: 3412840
• Math proficiency: 6% ▼ -16.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $44,930
• Composite: 11.98/100
• National rank: #9665
• State rank: #462 of 472 in NJ

Livability — Carneys Point

• Score: 57/100
• State rank: #515
• US rank: #21958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carneys Point, NJ
• County: Salem County · 24,175 people
• City population: 13,413
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,413
• Household income: $71,942
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 696.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 22% Black 22% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.07%
• Current HPI: 290.3853
• 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

1 event — show timeline

• 2026-03-06 Listed $218,762 CJMLS