202 E Main St · Penns Grove, NJ 08069

$175,000

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 8 Days on market

Built 1945 6,016 sqft lot Est $234k · 25% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +6.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss this adorable rancher on a charming corner lot in Penns Grove! This three-bedroom, one-bath home with a basement sits on a beautifully maintained corner property with a classic vinyl picket fence, offering both curb appeal and comfort. Recent major updates include a new roof (2025), new gas hot water heater (2024), and new gas HVAC system (2022)—providing peace of mind for years to come. Apparently, the prior owner did a total rehab from the basement up in 1997, before this current purchased. Don't have all the particulars. You’ll love the two-car off-street asphalt driveway leading to an oversized 21’ x 16’ storage shed/workshop, perfect for hobbi

Key facts

• Vinyl picket fence
• New gas hvac system
• Corner lot

Tags

• CORNER LOT
• VINYL PICKET FENCE
• NEW ROOF
• NEW GAS HOT WATER HEATER
• NEW GAS HVAC SYSTEM
• OVERSIZED STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.2% vs local median 6.0% in Penns Grove — 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 (#519 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A-; Watch: crime F, amenities F, commute 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.
• Zoned schools: Penns Grove Middle School (math 6% / reading 24%, grade F, #415 of 431 statewide, top 97%, 492 students, 73% FRL); Penns Grove High School (math 4% / reading 32%, grade F, #367 of 399 statewide, top 92%, 576 students, 60% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($72k/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 $5k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $76k; list at $175k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $175,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.19% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $234,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Christmas Ave	0.20mi	3/1.5	1,060 (0%)	7mo	$235,150	$222	83
104 Wisteria	0.47mi	3/1.0	1,008 (-5%)	4mo	$240,000	$238	66
5 Dixie Dr	0.37mi	4/1.0 (+1)	1,142 (+8%)	0mo	$260,000	$228	65
257 Regional Dr	0.41mi	4/1.0 (+1)	1,100 (+4%)	11mo	$247,000	$225	60
310 State St	0.70mi	2/1.0 (-1)	1,062 (+0%)	4mo	$202,500	$191	58
116 Lotus Ln	0.57mi	3/1.0	1,184 (+12%)	2mo	$250,000	$211	53
112 Snow Drop Ln	0.53mi	3/1.0	1,184 (+12%)	5mo	$235,000	$198	52
127 N Broad St	0.70mi	2/1.5 (-1)	1,050 (-1%)	11mo	$165,000	$157	50
106 Sack Ave	0.58mi	2/1.0 (-1)	928 (-12%)	5mo	$185,000	$199	44
272 S Broad St	0.72mi	2/1.0 (-1)	1,144 (+8%)	11mo	$185,000	$162	39
91 Mill St	0.73mi	3/1.5	920 (-13%)	5mo	$225,000	$245	38
167 N Dolbow Ave	0.69mi	3/2.0	1,200 (+13%)	7mo	$265,000	$221	36

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-10,926
• Equity at exit: $26,093

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $13,295
• Equity at exit: $15,131

Cash invested: $49,000 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,079 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$380 /mo · $4,564/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $272

Break-even live

Break-even rent $1,735

Max offer price $175,000

Occupancy floor 82%

Sensitivity live

Price	-10% $371	-5% $321	+0% $272	+5% $222	+10% $173
Rent	-10% $107	-5% $190	+0% $272	+5% $354	+10% $436
Rate	-1.0pp $360	-0.5pp $316	base $272	+0.5pp $226	+1.0pp $180

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 Penns Grove Auburn Rd Penns Grove, NJ	1.0–2.0	1.0	875	$1,650	$1.89	2d	3	0.66mi
258 Birch St Penns Grove, NJ	3.0	1.0	1114	$2,100	$1.89	11d	1	0.92mi
79 Delaware Ave Penns Grove, NJ	3.0	1.0	1300	$1,900	$1.46	0d	1	1.01mi

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-04-28
   historical
3. 2026-04-20
   listed $175,000 Active
4. 1997-09-30
   soldstatus $76,000
5. 1996-08-28
   soldstatus $20,000

ⓘ 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: $4,564 · $380/mo
• Projected year-2 tax: $4,564 · $380/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 32% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $24,952
• − Mortgage interest: −$9,803
• − Property taxes: −$4,564
• − Insurance: −$875
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − Depreciation: −$5,091
• Taxable income: $626
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $3,109/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: 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 — Penns Grove

• Score: 57/100
• State rank: #519
• US rank: #22190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Penns Grove, NJ
• County: Salem County · 24,175 people
• 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

+775.0% since first listed

5 events — show timeline

• 2026-05-06 Pending — BRIGHT MLS
• 2026-04-28 Listing Removed — BRIGHT MLS
• 2026-04-20 Listed $175,000 BRIGHT MLS
• 1997-09-30 Sold (Public Records) $76,000 Public Records
• 1996-08-28 Sold (Public Records) $20,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $4,564 · +1.9% YoY. Source: county tax records.