1616 Pennsylvania Ave #48 · Vineland, NJ 08361

$72,900

2 bd · 1.0 ba · 1,000 sqft · Manufactured · 24 Days on market

Manufactured home Built 1977 Fair condition 80 ac lot Garage $73/sqft · 37% below area Est $115k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0
• Manufactured-home adj. -6.2

Listing remarks

Welcome to Berryman's Branch in Vineland NJ! This well maintained mobile home offers an enclosed porch, new water heater, new HVAC unit, new windows and freshly painted siding! All of the essentials have been updated in 2024! With a little more updating this 2 bed 1 bath mobile home can be the perfect, cozy place to call home. Included in this sale is the 65 inch TV and console with electric fireplace in the living room! Also, porch furniture and other items can be included with offer. The park offers a new recreation area for private events or daily gathering and also a community pool! Buyer must be park approved. Make your appointment today!

Key facts

• Community pool
• New water heater
• New hvac unit

Tags

• ENCLOSED PORCH
• NEW WATER HEATER
• NEW HVAC UNIT
• NEW WINDOWS
• FRESHLY PAINTED SIDING
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $73k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $72k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 4.4% 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+, crime F, amenities 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.
• Zoned schools: Dr. William Mennies Elementary School (math 0% / reading 23%, grade F, #1,206 of 1,303 statewide, top 93%, 602 students, 0% FRL); Anthony Rossi Elementary School (math 10% / reading 31%, grade F, #985 of 1,303 statewide, top 76%, 611 students, 0% FRL); Vineland Senior High School (math 10% / reading 34%, grade F, #346 of 399 statewide, top 88%, 2,780 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 173 active listings in the ZIP; solid renter incomes; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• This rent is only 17% of the median local income ($103k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $504 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($72k) is reasonable based on typical stale-listing flexibility.

Recommended offer $71,806 (1.5% below list)

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 1977 — 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. 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: 2.06% ✓
• Cap rate: 17.55%
• Cash-on-cash: 40.20%
• DSCR: 2.79
• GRM: 4.0

CMA / ARV

• ARV (median comp): $114,859
• List price: $72,900
• Delta: -36.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1616 Pennsylvania Ave #98	0.01mi	3/1.0 (+1)	1,008 (+1%)	10mo	$37,000	$37	85
1616 Pennsylvania Ave #90	0.01mi	2/1.0	780 (-22%)	11mo	$60,000	$77	66
1616 Pennsylvania Ave Unit 27 BLUEBERRY	0.00mi	3/2.0 (+1)	1,200 (+20%)	4mo	$90,000	$75	62
Hance Bridge Rd	1.48mi	2/2.0	1,017 (+2%)	8mo	$147,500	$145	52
2414 E Sherman Ave	0.77mi	3/1.0 (+1)	1,008 (+1%)	11mo	$255,000	$253	50
1081 E Butler Ave	0.77mi	2/1.0	900 (-10%)	4mo	$261,500	$291	45
2880 S Lincoln Ave	0.76mi	3/1.0 (+1)	964 (-4%)	12mo	$312,000	$324	44
3501 S Lincoln Ave	0.66mi	2/2.0	1,100 (+10%)	12mo	$180,000	$164	39
2110 Mays Landing Rd Lot 287	1.24mi	3/1.0 (+1)	900 (-10%)	8mo	$62,500	$69	37
2736 London Ln	1.19mi	2/1.0	868 (-13%)	14mo	$125,000	$144	32
3321 Wilderness Dr	0.80mi	3/2.0 (+1)	1,156 (+16%)	4mo	$328,000	$284	27
1017 Alexander Dr	1.35mi	3/2.0 (+1)	1,247 (+25%)	11mo	$322,000	$258	22

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: 36.6%
• Equity multiple: 2.56×
• Total profit: $31,760
• Equity at exit: $10,870

10-year hold

• IRR: 43.3%
• Equity multiple: 5.11×
• Total profit: $83,826
• Equity at exit: $6,303

Cash invested: $20,412 (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 08361

• Active inventory: 173
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,503 medium
• Mortgage (P&I): −$382
• Tax est. 1.5%: −$91 /mo · $1,094/yr
• Insurance: −$30
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $684

Break-even live

Break-even rent $638

Max offer price $72,900

Occupancy floor 50%

Sensitivity live

Price	-10% $734	-5% $709	+0% $684	+5% $659	+10% $633
Rent	-10% $565	-5% $624	+0% $684	+5% $743	+10% $803
Rate	-1.0pp $720	-0.5pp $702	base $684	+0.5pp $665	+1.0pp $646

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: $18,225
• Closing costs: $2,187
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Ownership: Land leaseIncome/expense note: Annual ground rent
• HOA & community: Land lease: $853 monthlyGround rent paid annually

Exterior

• Parking: Driveway parking2 driveway spaces2 total garage/parking spaces
• Utilities: Public waterPublic sewer (listed also as public septic)Municipal trash not provided
• Home design: Mobile home (pre-1976)Aluminum sidingMetal roofBuilding not winterizedYear built estimated
• Construction: Aluminum siding constructionMetal roofAbove-grade structuresPets allowed on a case-by-case basis
• Exterior features: Community poolGround rent exists (annual payment)Property managed on siteTidal water not present

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas)Central air conditioning (electric)Electric hot water
• Interior features: Paneled wallsNo basement

Listing history 32 events

1. 2026-09-24
   days on market $72,900 Active 24 DOM
2. 2026-09-24
   days on market $72,900 Active 23 DOM
3. 2026-09-22
   days on market $72,900 Active 22 DOM
4. 2026-09-20
   days on market $72,900 Active 20 DOM
5. 2026-09-19
   days on market $72,900 Active 19 DOM
6. 2026-09-18
   days on market $72,900 Active 18 DOM
7. 2026-09-17
   days on market $72,900 Active 17 DOM
8. 2026-09-16
   days on market $72,900 Active 16 DOM
9. 2026-09-15
   days on market $72,900 Active 15 DOM
10. 2026-09-15
    price $72,900 Active 14 DOM
11. 2026-09-14
    days on market $76,900 Active 14 DOM
12. 2026-09-13
    days on market $76,900 Active 13 DOM
13. 2026-09-12
    days on market $76,900 Active 12 DOM
14. 2026-09-11
    days on market $76,900 Active 11 DOM
15. 2026-09-05
    days on market $76,900 Active 5 DOM
16. 2026-09-04
    days on market $76,900 Active 4 DOM
17. 2026-09-03
    days on market $76,900 Active 3 DOM
18. 2026-09-02
    remarks 651-char remark
19. 2026-09-02
    pricedays on marketlisting id $76,900 Active 2 DOM
20. 2026-07-04
    days on market $79,900 Active 14 DOM
21. 2026-07-03
    days on market $79,900 Active 13 DOM
22. 2026-07-02
    days on market $79,900 Active 12 DOM
23. 2026-07-01
    days on market $79,900 Active 11 DOM
24. 2026-06-30
    days on market $79,900 Active 10 DOM
25. 2026-06-29
    days on market $79,900 Active 9 DOM
26. 2026-06-28
    days on market $79,900 Active 8 DOM
27. 2026-06-28
    days on market $79,900 Active 7 DOM
28. 2026-06-27
    days on market $79,900 Active 6 DOM
29. 2026-06-26
    days on market $79,900 Active 5 DOM
30. 2026-06-23
    days on market $79,900 Active 2 DOM
31. 2026-06-21
    remarks 634-char remark
32. 2026-06-21
    listed $79,900 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: $18,039
• − Mortgage interest: −$4,084
• − Property taxes: −$1,094
• − Insurance: −$364
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$2,121
• Taxable income: $7,491
• Est. tax owed @ 24.0%: −$1,798
• After-tax cash flow: $6,408/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 · 13 photos

Fair 45/100 Moderate rehab Est. rehab $25,000–$45,000 screening

This mobile home requires moderate repairs and maintenance to improve its condition and increase its resale and rental value.

Repairs flagged

• Major roof — Aged roof with potential leaks.
• Major exterior siding — Weathered and discolored siding needs repainting.
• Major flooring — Worn flooring in porch and living areas needs replacement.
• Major interior walls/paint — Worn interior walls and paint need fresh coats.
• Major HVAC unit — May need cleaning and maintenance to ensure efficiency.
• Major landscaping — Basic landscaping with overgrown areas needs improvement.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can improve curb appeal and home value. ↑
• Both Replace worn flooring — New flooring can enhance the living space and increase appeal. ↑
• Both Improve landscaping — A well-maintained yard can significantly boost curb appeal and home value. ↑
• Both Paint interior walls and refresh paint — Fresh paint can make the interior look more modern and appealing. ↑
• Both Clean and maintain HVAC unit — A clean and efficient HVAC system can improve comfort and energy efficiency, boosting both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 19/100

Zoned Schools

Elementary Dr. William Mennies Elementary School F NJ #1,206/1,303 Nat'l #38,387/41,679 Middle Veterans Memorial Middle F NJ #379/431 Nat'l #11,105/14,009 High Vineland Senior High School F NJ #346/399 Nat'l #13,673/17,239

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

C Composite livability gradescore 66/100

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 · 152,743 people
• City population: 45,038
• Metro: Vineland, NJ
• Population (ZIP): 18,375
• Household income: $103,482
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 18% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 13% Black 10% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 9% · Canada
• Languages at home: 75% English-only · Spanish 16% Other Indo-European 4% Russian/Polish/Slavic 2%

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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: ▼ -215.80%
• Current HPI: 291.3404
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

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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

Property features AI

Finance

• Other: Ownership: Land leaseIncome/expense note: Annual ground rent
• HOA & community: Land lease: $853 monthlyGround rent paid annually

Exterior

• Parking: Driveway parking2 driveway spaces2 total garage/parking spaces
• Utilities: Public waterPublic sewer (listed also as public septic)Municipal trash not provided
• Home design: Mobile home (pre-1976)Aluminum sidingMetal roofBuilding not winterizedYear built estimated
• Construction: Aluminum siding constructionMetal roofAbove-grade structuresPets allowed on a case-by-case basis
• Exterior features: Community poolGround rent exists (annual payment)Property managed on siteTidal water not present

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas)Central air conditioning (electric)Electric hot water
• Interior features: Paneled wallsNo basement

Price history

2 events — show timeline

• 2026-07-04 Listing Removed — BRIGHT MLS
• 2026-06-20 Listed $79,900 BRIGHT MLS