1405 Farrell Ave #237 · Cherry Hill, NJ 08002

$86,863

1 bd · 1.0 ba · 608 sqft · Manufactured · 12 Days on market

Built 2025 1,200 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sweetest little corner of heaven for the single owner or couple just starting out or downsizing! Occupancy for 2 -this unit has all that one could want in a new home for less than $87, 000 !!! it comes with a step-saver kitchen with a handsome stainless steel farm sink with high faucet and racks, a hardwood cutting board & stainless attachments for the gourmet chef, the range is gas (propane) and comes with a built in microwave with exterior venting, a full-sized dishwasher for fast and easy clean-up, and a stainless fridge with top freezer and an interior ice maker. At the end of the cooking area is a dining area suitable for a table of 4. The bathroom provides a walk-in shower w

Key facts

• Built in microwave
• Step saver kitchen
• Stainless fridge

Tags

• STEP SAVER KITCHEN
• STAINLESS STEEL FARM SINK
• GAS RANGE
• BUILT IN MICROWAVE
• FULL SIZED DISHWASHER
• STAINLESS FRIDGE

Property features AI

Finance

• Other: Property listed as fee simple ownership; Property condition reported as excellent; Estimated above-grade finished area (608 sq ft)
• Financial info: Lease not considered; Income/expense note: annual ground rent
• HOA & community: Located in Cherry Hill Mobile Home Park; Ground rent exists (annual payments, 99 years remaining)

Exterior

• Parking: One assigned parking space (space #237); On-street parking and parking lot available; Assigned and free parking
• Utilities: Public water; Public sewer; Electric service (100 amp, 220 volts, circuit breakers); Electric hot water; Propane available; Cable TV available; Municipal trash service
• Home design: Manufactured single-wide home; Entry on level 1; Facing direction not specified
• Construction: Vinyl siding with asphalt shingle roof; Pillar/post/pier foundation; Structure is manufactured; Construction completed; Building not winterized
• Exterior features: Exterior lighting; Side yard(s); Shed on property

Interior

• Kitchen: Built-in range; Built-in microwave; Dishwasher; Icemaker; Exhaust fan
• Bedrooms: One bedroom on the entry/main level
• Flooring: Carpet; Luxury vinyl tile; Vinyl
• Bathrooms: One full bathroom with walk-in/stall shower
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning
• Interior features: Stall shower and walk-in shower; Built-in shelving/fixtures; Dining area; Galley-style kitchen; Recessed lighting; Window treatments; Storm door; Drywall and paneled walls
• Laundry & utility: Washer/dryer hookups on main floor; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $87k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.9%/yr); 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $600 of loan paydown is wiped out by about $3k 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 + 2.9% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $86,863

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.97% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.14%
• DSCR: 2.65
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.9% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 2.39×
• Total profit: $33,727
• Equity at exit: $12,952

10-year hold

• IRR: 39.9%
• Equity multiple: 4.72×
• Total profit: $90,510
• Equity at exit: $7,510

Cash invested: $24,322 (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 08002

• Rents YoY: 2.9%
• Active inventory: 99
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,713 high
• Mortgage (P&I): −$456
• Tax est. 1.5%: −$109 /mo · $1,303/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $753

Break-even live

Break-even rent $760

Max offer price $86,863

Occupancy floor 51%

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: $21,716
• Closing costs: $2,606
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 Meadowlands BLVD Cherry Hill Township, NJ	1.0	1.0	729	$1,184	$1.62	43d	1	0.42mi
210 W Crystal Lake Ave Haddonfield, NJ	1.0–2.0	1.0	780	$1,649	$2.11	2d	14	1.25mi
401 Cooper Landing Rd Cherry Hill, NJ	1.0	1.0	506	$1,700	$3.36	24d	1	1.27mi
2395 New Jersey Cherry Hill Township, NJ	3.0	1.0–3.0	1050	$2,745	$2.61	1d	15	1.38mi
13 Wilkins Ave Unit 2ND FL Haddonfield, NJ	1.0	1.0	700	$2,500	$3.57	24d	1	1.43mi

Listing history 10 events

1. 2026-06-18
   days on market $86,863 Active 12 DOM
2. 2026-06-17
   days on market $86,863 Active 11 DOM
3. 2026-06-16
   days on market $86,863 Active 10 DOM
4. 2026-06-15
   days on market $86,863 Active 9 DOM
5. 2026-06-13
   days on market $86,863 Active 7 DOM
6. 2026-06-13
   days on market $86,863 Active 6 DOM
7. 2026-06-09
   days on market $86,863 Active 3 DOM
8. 2026-06-08
   days on market $86,863 Active 2 DOM
9. 2026-06-07
   remarks 695-char remark
10. 2026-06-07
    listed $86,863 Active 1 DOM

ⓘ 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: $20,554
• − Mortgage interest: −$4,866
• − Property taxes: −$1,303
• − Insurance: −$434
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$2,527
• Taxable income: $8,135
• Est. tax owed @ 24.0%: −$1,952
• After-tax cash flow: $7,082/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: Cherry Hill School District
• NCES district ID: 3403000
• Math proficiency: 27% ▼ -26.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $90,394
• Composite: 40.71/100
• National rank: #3665
• State rank: #181 of 472 in NJ

Livability — Cherry Hill

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Golden Triangle, NJ
• County: Camden County · 407,624 people
• City population: 76,725
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 24,015
• Household income: $100,951
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 430.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 12% Asian 12% Black 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 8% Scotch-Irish 2% Italian 2%
• Foreign-born: 18% · Vietnam, Canada, China
• Languages at home: 73% English-only · Spanish 8% Russian/Polish/Slavic 4% Vietnamese 4%

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: ▼ -201.30%
• Current HPI: 358.1597
• Rent YoY: ▲ 2.90%
• 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

+414.0% since first listed

9 events — show timeline

• 2026-06-06 Listed $86,863 BRIGHT MLS
• 2026-02-10 Listing Removed — BRIGHT MLS
• 2026-01-27 Relisted — BRIGHT MLS
• 2026-01-25 Listing Removed — BRIGHT MLS
• 2025-11-04 Relisted — BRIGHT MLS
• 2025-10-31 Listing Removed — BRIGHT MLS
• 2025-06-05 Listed $85,863 BRIGHT MLS
• 2012-06-30 Listing Removed — BRIGHT MLS
• 2011-07-19 Listed $16,900 BRIGHT MLS