29-A Lane Ave · Gloucester City, NJ 08030

$329,900

4 bd · None ba · 2,232 sqft · MultiFamily · 14 Days on market

Built 1930 Fair condition 6,800 sqft lot Est $299k · 10% 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• 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

This multi-family property would make a great investment property, or owner occupant, with additional rental income. The current owners live on the main floor, with long term tenants living on the upper level. The current tenants are on a month to month lease, and would love to stay in this rental. The property sits on a beautiful lot 68x 100 completely fenced in, with a three car driveway, along with street parking. This property really needs to be shown in person to be appreciated. The tenant upstairs works nights, so try to give adequate time to show. This property is being strictly in its as-is condition, seller will make no repairs, or give credits for repairs

Key facts

• 6,800 sq ft lot
• 2 parking spots
• Built 1930

Property features AI

Finance

• Financial info: Existing month-to-month lease(s); Total actual rent reported: $18,000

Exterior

• Parking: Paved driveway; Driveway parking (2 spaces); On-street parking; Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer (and public septic listed); Natural gas for heating and hot water; Cable TV and phone available; Municipal trash service
• Home design: Detached property; 2 stories; Good to very good condition
• Construction: Frame construction; Block foundation; Pitched roof with architectural fiberglass shingles; Built per assessor records
• Exterior features: Sidewalks; Front yard; Rear yard; Side yards

Interior

• Kitchen: Built-in range; Gas oven/range / stove; Range hood; ENERGY STAR dishwasher; Dishwasher; Garbage disposal; Refrigerator; Oven
• Bedrooms: Two 2-bedroom units (multifamily configuration)
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: Master bath(s)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans; Window air conditioning units
• Interior features: Second kitchen; Additional stairway; Open floor plan; Kitchenette; Master bath(s); Drywall walls and ceilings
• Laundry & utility: Washer (front loading); Dryer (front loading, gas)

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $330k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $854 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Cap rate 9.4% vs local median 5.5% in Gloucester City — 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 72/100 on livability (#215 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: amenities F, commute F.
• Gloucester City Public School District (suburban): math 11% / reading 34% proficiency, ranked #413 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gloucester City High School (math 21% / reading 42%, grade F, #275 of 399 statewide, top 69%, 702 students, 59% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 90 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $3,967/mo this rent would consume 75% of the median local household income ($63k/yr) (locally 431% 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 $10k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 38% 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 $329,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.10%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $299,088
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Market St	0.60mi	3/3.0 (-1)	2,346 (+5%)	17mo	$265,000	$113	44
318 Monmouth St	0.67mi	4/—	2,428 (+9%)	14mo	$325,000	$134	42

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $998
• Equity at exit: $49,189

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $71,155
• Equity at exit: $28,524

Cash invested: $92,372 (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 08030

• Home prices YoY: -27.9%
• Active inventory: 90
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $3,967 high
• Mortgage (P&I): −$1,730
• Tax est. 1.5%: −$412 /mo · $4,948/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $854

Break-even live

Break-even rent $2,886

Max offer price $329,900

Occupancy floor 73%

Sensitivity live

Price	-10% $1,082	-5% $968	+0% $854	+5% $740	+10% $626
Rent	-10% $541	-5% $697	+0% $854	+5% $1,011	+10% $1,167
Rate	-1.0pp $1,020	-0.5pp $938	base $854	+0.5pp $769	+1.0pp $682

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,966
Total (2 units)			$3,967

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
840 Cumberland St Unit 2 Gloucester City, NJ	3.0	1.0	1642	$2,200	$1.34	25d	1	0.27mi
322 Nicholson Rd Gloucester City, NJ	4.0	2.0	1968	$3,200	$1.63	25d	1	0.71mi
18 Pine St Westville, NJ	4.0	2.5	1800	$2,950	$1.64	2d	1	1.35mi

Listing history 4 events

1. 2026-06-07
   status $329,900 Pending 14 DOM
2. 2026-05-22
   historical Active Under Contract
3. 2026-05-08
   listed $329,900 Active
4. 2026-05-04
   historical $329,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 38% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,604
• − Mortgage interest: −$18,480
• − Property taxes: −$4,948
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,808
• − Management: −$3,808
• − Depreciation: −$9,597
• Taxable income: $5,313
• Est. tax owed @ 24.0%: −$1,275
• After-tax cash flow: $8,974/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

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its curb appeal and interior condition, but is currently move-in ready for tenants.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Minor Interior paint — Some areas appear worn

Value-add opportunities

• Both Painting and updating the exterior siding — Improves curb appeal and value
• Both Updating the kitchen appliances and cabinetry — Modernizes the space and increases value
• Both Landscaping and curb appeal improvements — Enhances the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Interior paint · Some areas appear worn	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Painting and updating the exterior siding — Improves curb appeal and value ↑
• Both Updating the kitchen appliances and cabinetry — Modernizes the space and increases value ↑
• Both Landscaping and curb appeal improvements — Enhances the home's appearance and 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: Gloucester City Public School District
• NCES district ID: 3406000
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 34% ▼ -15.00%
• Median HH income: $51,231
• Composite: 20.01/100
• National rank: #8664
• State rank: #413 of 472 in NJ

Livability — Gloucester City

• Score: 72/100
• State rank: #215
• US rank: #5984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloucester City, NJ
• County: Camden County · 407,624 people
• City population: 13,217
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,217
• Household income: $63,384
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 431.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Black 7% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 13% Other Indo-European 4% Arabic 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.59%
• Current HPI: 298.9139
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-22 Contingent — BRIGHT MLS
• 2026-05-08 Listed $329,900 BRIGHT MLS
• 2026-05-04 Coming Soon $329,900 BRIGHT MLS