1616 Pennsylvania Ave Unit 262 CHERRY STREET · Vineland, NJ 08360

$150,000

3 bd · 2.0 ba · 1,421 sqft · Manufactured · 117 Days on market

Built 2005 1,421 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amenities include community club house and pool in nicer mobile home community. Well cared for home on large lot. Extras include New central air 2015, Heat and hot water approx. 7 years old. Shed with electric, heated Florida Room. Master Bathroom has sunk in soak tub with separate stall shower. Florida Room, Master Bedroom and Dining Room furniture included. Seller will contribute $2,000 toward Buyer's closing costs.

Key facts

• Open floor plan
• Soaking tub
• Natural light

Tags

• OPEN FLOOR PLAN
• LARGE KITCHEN
• NATURAL LIGHT
• INCLUDED APPLIANCES
• MAIN BED WITH CLOSETS
• SOAKING TUB

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Manufactured / modular property; Land lease ownership with approximately 100 years remaining; Land lease payment of $900 monthly
• Construction: Manufactured construction; Above-grade structure
• Exterior features: Community pool; Property is in excellent condition; Located in a senior community

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (oil); Central air conditioning
• Interior features: No basement; Living area reported as estimated

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 4.5% in Vineland — 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 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Vineland Public School District (urban): math 9% / reading 34% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 175 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• This rent runs 40% of the median local income ($65k/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 $4k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 32 sale attempts since 15y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $150k implies a 175% gain — meaningful room to come down on a strong offer.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.46% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.94%
• DSCR: 1.89
• GRM: 5.7

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: 12.1%
• Equity multiple: 1.48×
• Total profit: $20,187
• Equity at exit: $22,365

10-year hold

• IRR: 21.1%
• Equity multiple: 2.78×
• Total profit: $74,963
• Equity at exit: $12,969

Cash invested: $42,000 (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 08360

• Active inventory: 175
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,196 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $698

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 63%

Sensitivity live

Price	-10% $802	-5% $750	+0% $698	+5% $646	+10% $594
Rent	-10% $525	-5% $611	+0% $698	+5% $785	+10% $872
Rate	-1.0pp $774	-0.5pp $736	base $698	+0.5pp $659	+1.0pp $620

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $150,000 Active 117 DOM
2. 2026-06-19
   days on market $150,000 Active 115 DOM
3. 2026-06-18
   days on market $150,000 Active 114 DOM
4. 2026-06-17
   days on market $150,000 Active 113 DOM
5. 2026-06-16
   days on market $150,000 Active 112 DOM
6. 2026-06-15
   days on market $150,000 Active 111 DOM
7. 2026-06-14
   days on market $150,000 Active 109 DOM
8. 2026-06-13
   days on market $150,000 Active 108 DOM
9. 2026-06-10
   days on market $150,000 Active 106 DOM
10. 2026-06-09
    days on market $150,000 Active 105 DOM
11. 2026-06-08
    days on market $150,000 Active 104 DOM
12. 2026-06-07
    days on market $150,000 Active 103 DOM
13. 2026-06-03
    days on market $150,000 Active 99 DOM
14. 2026-06-02
    days on market $150,000 Active 98 DOM
15. 2026-06-01
    days on market $150,000 Active 97 DOM
16. 2026-05-31
    days on market $150,000 Active 96 DOM
17. 2026-05-30
    days on market $150,000 Active 95 DOM
18. 2026-04-07
    price $150,000
19. 2026-03-29
    price $160,000
20. 2026-02-24
    listed $170,000 Active
21. 2018-04-12
    soldstatus $54,500 Sold 421-char remark

    Show marketing remark (421 chars)

    Amenities include community club house and pool in nicer mobile home community. Well cared for home on large lot. Extras include New central air 2015, Heat and hot water approx. 7 years old. Shed with electric, heated Florida Room. Master Bathroom has sunk in soak tub with separate stall shower. Florida Room, Master Bedroom and Dining Room furniture included. Seller will contribute $2,000 toward Buyer's closing costs.

22. 2018-04-12
    soldstatus $54,500 Closed

    Show marketing remark (421 chars)

    Amenities include community club house and pool in nicer mobile home community. Well cared for home on large lot. Extras include New central air 2015, Heat and hot water approx. 7 years old. Shed with electric, heated Florida Room. Master Bathroom has sunk in soak tub with separate stall shower. Florida Room, Master Bedroom and Dining Room furniture included. Seller will contribute $2,000 toward Buyer's closing costs.

23. 2018-02-26
    listed $58,900 Active 421-char remark

    Show marketing remark (421 chars)

    Amenities include community club house and pool in nicer mobile home community. Well cared for home on large lot. Extras include New central air 2015, Heat and hot water approx. 7 years old. Shed with electric, heated Florida Room. Master Bathroom has sunk in soak tub with separate stall shower. Florida Room, Master Bedroom and Dining Room furniture included. Seller will contribute $2,000 toward Buyer's closing costs.

24. 2018-02-26
    listed $58,900 Active

    Show marketing remark (421 chars)

    Amenities include community club house and pool in nicer mobile home community. Well cared for home on large lot. Extras include New central air 2015, Heat and hot water approx. 7 years old. Shed with electric, heated Florida Room. Master Bathroom has sunk in soak tub with separate stall shower. Florida Room, Master Bedroom and Dining Room furniture included. Seller will contribute $2,000 toward Buyer's closing costs.

25. 2018-02-16
    historical
26. 2017-12-06
    price $59,900
27. 2017-10-10
    soldstatus $72,500
28. 2017-08-16
    listed $59,900
29. 2017-08-01
    historical
30. 2017-07-29
    price $72,500
31. 2017-06-30
    soldstatus $85,000
32. 2017-05-07
    listed
33. 2017-02-03
    listed $74,000
34. 2016-12-27
    listed
35. 2016-12-14
    historical
36. 2016-09-30
    soldstatus $110,000
37. 2016-06-17
    historical
38. 2016-06-17
    historical
39. 2016-06-15
    listed $69,900 Active
40. 2016-06-03
    soldstatus $61,000
41. 2016-03-23
    listed $74,900 Active
42. 2016-03-23
    listed $79,900 Active
43. 2016-03-04
    listed
44. 2015-10-29
    soldstatus $118,500
45. 2015-10-15
    listed
46. 2015-10-06
    historical
47. 2015-09-10
    listed $45,000 Active
48. 2015-08-28
    soldstatus $75,000
49. 2015-06-17
    soldstatus $65,000
50. 2015-04-20
    listed

ⓘ 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: $26,350
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − Depreciation: −$4,364
• Taxable income: $6,368
• Est. tax owed @ 24.0%: −$1,528
• After-tax cash flow: $6,849/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: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• County: Cumberland County · 80,266 people
• City population: 45,038
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 45,038
• Household income: $65,359
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1328.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 51% White 32% Two or more races 17% Black 11% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 33% Dominican 2%
• Common ancestry: Romanian 2% Subsaharan African 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 37% Russian/Polish/Slavic 2% Other Indo-European 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -320.06%
• Current HPI: 278.786
• Rent YoY: —
• Metro: Vineland-Bridgeton, 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

+105.8% since first listed

76 events — show timeline

• 2026-04-07 Price Changed $150,000 BRIGHT MLS
• 2026-03-29 Price Changed $160,000 BRIGHT MLS
• 2026-02-24 Listed $170,000 BRIGHT MLS
• 2018-04-12 Sold (MLS) $54,500 BRIGHT MLS
• 2018-04-12 Sold (MLS) $54,500 TREND
• 2018-02-26 Listed $58,900 BRIGHT MLS
• 2018-02-26 Listed $58,900 TREND
• 2018-02-16 Listing Removed — BRIGHT MLS
• 2017-12-06 Price Changed $59,900 SJSRMLS
• 2017-10-10 Sold (MLS) $72,500 TREND
• 2017-08-16 Listed $59,900 BRIGHT MLS
• 2017-08-01 Listing Removed — BRIGHT MLS
• 2017-07-29 Price Changed $72,500 CMCMLS
• 2017-06-30 Sold (MLS) $85,000 TREND
• 2017-05-07 Listed — TREND
• 2017-02-03 Listed $74,000 BRIGHT MLS
• 2016-12-27 Listed — TREND
• 2016-12-14 Listing Removed — SJSRMLS
• 2016-09-30 Sold (MLS) $110,000 TREND
• 2016-06-17 Listing Removed — SJSRMLS
• 2016-06-17 Listing Removed — SJSRMLS
• 2016-06-15 Listed $69,900 SJSRMLS
• 2016-06-03 Sold (MLS) $61,000 TREND
• 2016-03-23 Listed $74,900 SJSRMLS
• 2016-03-23 Listed $79,900 SJSRMLS
• 2016-03-04 Listed — TREND
• 2015-10-29 Sold (MLS) $118,500 TREND
• 2015-10-15 Listed — TREND
• 2015-10-06 Listing Removed — SJSRMLS
• 2015-09-10 Listed $45,000 SJSRMLS
• 2015-08-28 Sold (MLS) $75,000 TREND
• 2015-06-17 Sold (MLS) $65,000 TREND
• 2015-04-20 Listed — TREND
• 2015-03-11 Listed — TREND
• 2014-09-05 Listed — TREND
• 2014-06-30 Sold (MLS) $65,000 TREND
• 2014-05-22 Listed — TREND
• 2014-03-14 Sold (MLS) $80,000 TREND
• 2013-12-02 Sold (MLS) $6,500 TREND
• 2013-09-19 Listed — TREND
• 2013-08-26 Sold (MLS) $41,000 TREND
• 2013-08-09 Listed — TREND
• 2013-07-31 Sold (MLS) $10,000 TREND
• 2013-07-31 Sold (MLS) $10,000 SJSRMLS
• 2013-06-20 Listing Removed — SJSRMLS
• 2013-06-06 Sold (MLS) $59,900 TREND
• 2013-05-14 Listed — TREND
• 2013-05-14 Listed $15,000 SJSRMLS
• 2013-05-10 Listed — TREND
• 2013-04-01 Listing Removed — SJSRMLS
• 2012-12-13 Sold (MLS) $75,000 TREND
• 2012-12-13 Sold (MLS) $75,000 SJSRMLS
• 2012-12-13 Sold (MLS) $75,000 BRIGHT MLS
• 2012-12-13 Sold (MLS) $75,000 TREND
• 2012-11-01 Listing Removed — SJSRMLS
• 2012-09-11 Listed $51,900 SJSRMLS
• 2012-03-31 Listing Removed — SJSRMLS
• 2012-03-19 Listing Removed — SJSRMLS
• 2012-01-14 Listing Removed — SJSRMLS
• 2012-01-04 Listed — TREND
• 2012-01-04 Listed $84,900 SJSRMLS
• 2012-01-04 Listing Removed — BRIGHT MLS
• 2012-01-04 Listed $89,900 BRIGHT MLS
• 2012-01-04 Listed $89,900 TREND
• 2012-01-01 Listing Removed — SJSRMLS
• 2011-12-05 Listed — TREND
• 2011-09-18 Listed $124,900 SJSRMLS
• 2011-09-12 Listed $64,900 SJSRMLS
• 2011-08-31 Listed $88,500 SJSRMLS
• 2011-07-18 Sold (MLS) $80,000 TREND
• 2011-06-05 Listing Removed — SJSRMLS
• 2011-04-16 Listing Removed — SJSRMLS
• 2011-03-04 Listed $72,900 SJSRMLS
• 2011-01-26 Listing Removed — SJSRMLS
• 2011-01-01 Listing Removed — SJSRMLS
• 2010-11-12 Listing Removed — SJSRMLS