616A Bosworth Ct Unit A

Leisure Village West, NJ 08759

$259,900D

2 bd · 2.0 ba · 1,164 sqft · Built 1976 · SingleFamily · Pending · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,766/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$341
• Vac / Maint / Mgmt: −$581
• Net cashflow: $48/mo
• Annual: $576/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• 1% rule: 1.06%
• Cash to close: $72,772

Investor read

• This is a 2-bed/2.0-bath single-family listed at $260k.
• At list price, monthly cash flow is $48 ($576/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• It's been on market 88 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#261 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $260k implies a 300% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 61% 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.

Questions for listing agent

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.