23 Mcphelin Ave · Ashland, NJ 08034

$505,000

4 bd · 2.5 ba · 2,167 sqft · SingleFamily public records · 37 Days on market

Built 1928 0.26 ac lot $233/sqft · 15% below area Est $591k · 15% under

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Why this score? — see what drove the D 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).

• ARV discount +14.1/15.0
• Cash flow +10.1/30.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +3.1/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 23 McPhellin Avenue in Cherry Hill - PHOTOS COMING SOON Tucked away on a quiet cul-de-sac and set on a rare double lot, this beautiful home offers the perfect blend of character, space, and flexibility. Natural sunlight pours through the many windows throughout the home, creating a warm and inviting atmosphere in every room. “The lovely living room features a beautiful fireplace as a focal point and access to both a screened-in porch and an open-air porch ideal for relaxing or entertaining year-round. ” The flow of the main level is both functional and inviting, with a dedicated dining room perfectly situated between the kitchen and living room. The kitchen offers a charming breakfast room, creating a bright and cheerful space to start your day, along with access to a side deck—perfect for morning coffee or casual outdoor dining. A standout feature of this home is the versatile 225 sq ft main-level bonus suite. Currently used as an in-law suite, this private space includes its own entrance. , a full handicap-accessible bathroom, and two walk-in closets. Whether used for multi-generational living, guests, a family room, or a home office, it offers incredible flexibility. Main floor laundry adds everyday convenience. Upstairs, you’ll find three comfortable bedrooms and a beautifully renovated full bathroom. The primary bedroom features a charming Juliette balcony along with a walk-in closet area. Hardwood flooring lies beneath the carpeting, ready to be revealed and restored. Throughout the home, you’ll find timeless built-ins adding both character and practical storage. A walk-up attic provides even more space for storage or future possibilities. The expansive double lot offers endless opportunities to enjoy the outdoors—whether gardening, entertaining, or simply unwinding in your own private setting. Additional features - gutter guards This is a home that truly adapts to your lifestyle—filled with light, charm, and room to grow.

Key facts

• 0.26 acre lot
• 2 parking spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $505k.

Deal economics

• At list price, monthly cash flow is $-297 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $453k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $432k (14.5% below list).
• Recommended offer: $432k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.4% in Ashland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 79/100 on livability (#83 in NJ, #1,995 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A-; Watch: amenities F, cost of living F.
• 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.
• Zoned schools: A. Russell Knight Elementary School (math 42% / reading 62%, grade C-, #209 of 1,303 statewide, top 19%, 452 students, 8% FRL); John A. Carusi Middle School (math 12% / reading 51%, grade F, #289 of 431 statewide, top 69%, 841 students, 29% FRL); Cherry Hill High School West (math 11% / reading 51%, grade F, #277 of 399 statewide, top 70%, 1,355 students, 24% FRL).
• Market conditions: Rents rising (+2.6%/yr); 84 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $4,316/mo this rent would consume 45% of the median local household income ($114k/yr) (locally 344% 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 $3k of loan paydown is wiped out by about $15k 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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($490k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,610 (14.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 9.8

CMA / ARV

• ARV (median comp): $591,027
• List price: $505,000
• Delta: -14.56%
• 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
316 N Woodstock Dr	0.37mi	4/3.0	2,049 (-5%)	6mo	$585,000	$286	66
1003 Roumfort Ave	0.66mi	4/2.5	2,236 (+3%)	0mo	$605,000	$271	64
120 Warfield Rd	0.72mi	4/3.0	2,218 (+2%)	0mo	$750,000	$338	60
205 Park Ln	0.22mi	5/3.0 (+1)	2,384 (+10%)	7mo	$869,000	$365	60
307 Provincetown Cir	0.55mi	5/2.5 (+1)	2,257 (+4%)	6mo	$425,000	$188	58
336 Bortons Mill Ct	0.73mi	4/2.5	2,184 (+1%)	10mo	$771,000	$353	56
43 Centre St	0.60mi	3/2.5 (-1)	2,033 (-6%)	1mo	$880,000	$433	56
300 Portsmouth Rd	0.47mi	5/2.5 (+1)	2,345 (+8%)	6mo	$565,000	$241	54
109 Old Carriage Rd	0.69mi	4/3.0	2,049 (-5%)	6mo	$665,000	$325	52
368 Kresson Rd	0.72mi	4/2.5	2,085 (-4%)	10mo	$420,000	$201	52
613 Centre St	0.43mi	3/2.0 (-1)	2,368 (+9%)	8mo	$825,000	$348	51
2 Evergreen Ln	0.75mi	4/2.0	2,391 (+10%)	8mo	$849,500	$355	40

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 · 2.56% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.28×
• Total profit: $-102,434
• Equity at exit: $75,297

10-year hold

• IRR: -15.3%
• Equity multiple: 0.15×
• Total profit: $-120,464
• Equity at exit: $43,663

Cash invested: $141,400 (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 08034

• Rents YoY: 2.6%
• Active inventory: 84
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $4,316 high
• Mortgage (P&I): −$2,648
• Tax from tax record: −$848 /mo · $10,173/yr
• Insurance: −$210
• HOA: −$0
• Vacancy / Maint / Mgmt: −$906
• Net cashflow: $-297

Break-even live

Break-even rent $4,692

Max offer price $452,585

Occupancy floor —

Sensitivity live

Price	-10% $-11	-5% $-154	+0% $-297	+5% $-440	+10% $-583
Rent	-10% $-638	-5% $-467	+0% $-297	+5% $-126	+10% $44
Rate	-1.0pp $-42	-0.5pp $-168	base $-297	+0.5pp $-428	+1.0pp $-561

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: $126,250
• Closing costs: $15,150
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 N Brookfield Rd Cherry Hill, NJ	3.0	1.5	1413	$3,200	$2.26	17d	1	0.55mi
15 Potter St Haddonfield, NJ	3.0	2.0	1650	$4,500	$2.73	0d	1	0.62mi
300 Kings Hwy E Unit C Haddonfield, NJ	3.0	2.5	1800	$5,750	$3.19	0d	1	0.66mi
300 Kings Hwy E Unit B Haddonfield, NJ	3.0	3.0	2000	$6,275	$3.14	0d	1	0.66mi
239 Kings Hwy E Unit B Haddonfield, NJ	3.0	2.0	1800	$3,000	$1.67	26d	1	0.68mi
406 Kings Hwy E Haddonfield, NJ	3.0	2.5	1908	$4,600	$2.41	0d	1	0.72mi
13 Tanner St Unit A2 Haddonfield, NJ	3.0	3.0	1600	$4,200	$2.62	0d	1	0.75mi
3 Lee Ave Haddonfield, NJ	4.0	2.0	1400	$3,700	$2.64	0d	1	0.75mi
35 Grove St Unit 2 Haddonfield, NJ	4.0	2.0	2000	$4,000	$2.00	0d	1	0.76mi
148 Heritage Rd Haddonfield, NJ	4.0	2.0	2452	$7,500	$3.06	0d	1	0.84mi
154 E Valleybrook Rd Cherry Hill, NJ	3.0	1.5	1413	$3,300	$2.34	45d	1	0.96mi

Listing history 8 events

1. 2026-06-09
   status $505,000 Pending 37 DOM
2. 2026-06-02
   status $505,000 Active Under Contract 37 DOM
3. 2026-06-01
   days on market $505,000 Active 37 DOM
4. 2026-05-31
   days on market $505,000 Active 36 DOM
5. 2026-05-11
   status Pending 2016-char remark

   Show marketing remark (2016 chars)

   Welcome to 23 McPhellin Avenue in Cherry Hill - PHOTOS COMING SOON Tucked away on a quiet cul-de-sac and set on a rare double lot, this beautiful home offers the perfect blend of character, space, and flexibility. Natural sunlight pours through the many windows throughout the home, creating a warm and inviting atmosphere in every room. “The lovely living room features a beautiful fireplace as a focal point and access to both a screened-in porch and an open-air porch ideal for relaxing or entertaining year-round. ” The flow of the main level is both functional and inviting, with a dedicated dining room perfectly situated between the kitchen and living room. The kitchen offers a charming breakfast room, creating a bright and cheerful space to start your day, along with access to a side deck—perfect for morning coffee or casual outdoor dining. A standout feature of this home is the versatile 225 sq ft main-level bonus suite. Currently used as an in-law suite, this private space includes its own entrance. , a full handicap-accessible bathroom, and two walk-in closets. Whether used for multi-generational living, guests, a family room, or a home office, it offers incredible flexibility. Main floor laundry adds everyday convenience. Upstairs, you’ll find three comfortable bedrooms and a beautifully renovated full bathroom. The primary bedroom features a charming Juliette balcony along with a walk-in closet area. Hardwood flooring lies beneath the carpeting, ready to be revealed and restored. Throughout the home, you’ll find timeless built-ins adding both character and practical storage. A walk-up attic provides even more space for storage or future possibilities. The expansive double lot offers endless opportunities to enjoy the outdoors—whether gardening, entertaining, or simply unwinding in your own private setting. Additional features - gutter guards This is a home that truly adapts to your lifestyle—filled with light, charm, and room to grow.

6. 2026-05-04
   historical Active Under Contract 2016-char remark

   Show marketing remark (2016 chars)

   Welcome to 23 McPhellin Avenue in Cherry Hill - PHOTOS COMING SOON Tucked away on a quiet cul-de-sac and set on a rare double lot, this beautiful home offers the perfect blend of character, space, and flexibility. Natural sunlight pours through the many windows throughout the home, creating a warm and inviting atmosphere in every room. “The lovely living room features a beautiful fireplace as a focal point and access to both a screened-in porch and an open-air porch ideal for relaxing or entertaining year-round. ” The flow of the main level is both functional and inviting, with a dedicated dining room perfectly situated between the kitchen and living room. The kitchen offers a charming breakfast room, creating a bright and cheerful space to start your day, along with access to a side deck—perfect for morning coffee or casual outdoor dining. A standout feature of this home is the versatile 225 sq ft main-level bonus suite. Currently used as an in-law suite, this private space includes its own entrance. , a full handicap-accessible bathroom, and two walk-in closets. Whether used for multi-generational living, guests, a family room, or a home office, it offers incredible flexibility. Main floor laundry adds everyday convenience. Upstairs, you’ll find three comfortable bedrooms and a beautifully renovated full bathroom. The primary bedroom features a charming Juliette balcony along with a walk-in closet area. Hardwood flooring lies beneath the carpeting, ready to be revealed and restored. Throughout the home, you’ll find timeless built-ins adding both character and practical storage. A walk-up attic provides even more space for storage or future possibilities. The expansive double lot offers endless opportunities to enjoy the outdoors—whether gardening, entertaining, or simply unwinding in your own private setting. Additional features - gutter guards This is a home that truly adapts to your lifestyle—filled with light, charm, and room to grow.

7. 2026-04-08
   listed $505,000 Active 2016-char remark

   Show marketing remark (2016 chars)

   Welcome to 23 McPhellin Avenue in Cherry Hill - PHOTOS COMING SOON Tucked away on a quiet cul-de-sac and set on a rare double lot, this beautiful home offers the perfect blend of character, space, and flexibility. Natural sunlight pours through the many windows throughout the home, creating a warm and inviting atmosphere in every room. “The lovely living room features a beautiful fireplace as a focal point and access to both a screened-in porch and an open-air porch ideal for relaxing or entertaining year-round. ” The flow of the main level is both functional and inviting, with a dedicated dining room perfectly situated between the kitchen and living room. The kitchen offers a charming breakfast room, creating a bright and cheerful space to start your day, along with access to a side deck—perfect for morning coffee or casual outdoor dining. A standout feature of this home is the versatile 225 sq ft main-level bonus suite. Currently used as an in-law suite, this private space includes its own entrance. , a full handicap-accessible bathroom, and two walk-in closets. Whether used for multi-generational living, guests, a family room, or a home office, it offers incredible flexibility. Main floor laundry adds everyday convenience. Upstairs, you’ll find three comfortable bedrooms and a beautifully renovated full bathroom. The primary bedroom features a charming Juliette balcony along with a walk-in closet area. Hardwood flooring lies beneath the carpeting, ready to be revealed and restored. Throughout the home, you’ll find timeless built-ins adding both character and practical storage. A walk-up attic provides even more space for storage or future possibilities. The expansive double lot offers endless opportunities to enjoy the outdoors—whether gardening, entertaining, or simply unwinding in your own private setting. Additional features - gutter guards This is a home that truly adapts to your lifestyle—filled with light, charm, and room to grow.

8. 2026-03-28
   historical $505,000 2016-char remark

   Show marketing remark (2016 chars)

   Welcome to 23 McPhellin Avenue in Cherry Hill - PHOTOS COMING SOON Tucked away on a quiet cul-de-sac and set on a rare double lot, this beautiful home offers the perfect blend of character, space, and flexibility. Natural sunlight pours through the many windows throughout the home, creating a warm and inviting atmosphere in every room. “The lovely living room features a beautiful fireplace as a focal point and access to both a screened-in porch and an open-air porch ideal for relaxing or entertaining year-round. ” The flow of the main level is both functional and inviting, with a dedicated dining room perfectly situated between the kitchen and living room. The kitchen offers a charming breakfast room, creating a bright and cheerful space to start your day, along with access to a side deck—perfect for morning coffee or casual outdoor dining. A standout feature of this home is the versatile 225 sq ft main-level bonus suite. Currently used as an in-law suite, this private space includes its own entrance. , a full handicap-accessible bathroom, and two walk-in closets. Whether used for multi-generational living, guests, a family room, or a home office, it offers incredible flexibility. Main floor laundry adds everyday convenience. Upstairs, you’ll find three comfortable bedrooms and a beautifully renovated full bathroom. The primary bedroom features a charming Juliette balcony along with a walk-in closet area. Hardwood flooring lies beneath the carpeting, ready to be revealed and restored. Throughout the home, you’ll find timeless built-ins adding both character and practical storage. A walk-up attic provides even more space for storage or future possibilities. The expansive double lot offers endless opportunities to enjoy the outdoors—whether gardening, entertaining, or simply unwinding in your own private setting. Additional features - gutter guards This is a home that truly adapts to your lifestyle—filled with light, charm, and room to grow.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $10,173 · $848/mo
• Projected year-2 tax: $11,374 · $948/mo
• Expected delta: +$1,201/yr (+$100/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,793
• − Mortgage interest: −$28,288
• − Property taxes: −$10,173
• − Insurance: −$2,525
• − Repairs & maintenance: −$4,143
• − Management: −$4,143
• − Depreciation: −$14,691
• Taxable loss: −$12,170
• Est. tax savings @ 24.0%: +$2,921
• After-tax cash flow: $-640/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 — Ashland

• Score: 79/100
• State rank: #83
• US rank: #1995

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, NJ
• County: Camden County · 407,624 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 20,901
• Household income: $114,012
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 344.0

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 10% Two or more races 9% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 5% Scotch-Irish 4% Italian 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 80% English-only · Spanish 7% Other Indo-European 4% Chinese 3%

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: ▼ -218.26%
• Current HPI: 335.0212
• Rent YoY: ▲ 2.56%
• 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

4 events — show timeline

• 2026-05-11 Pending — BRIGHT MLS
• 2026-05-04 Contingent — BRIGHT MLS
• 2026-04-08 Listed $505,000 BRIGHT MLS
• 2026-03-28 Coming Soon $505,000 BRIGHT MLS

Property tax history

+2.0%/yr

Latest (2025): $10,173 · +5.4% YoY. Source: county tax records.