179 Corolla Dr #179 · Egg Harbor, NJ 08234-3907

$364,990

3 bd · 2.5 ba · 1,500 sqft · Condo

Built 2026 Excellent condition

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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 +7.5/15.0
• Cash flow +7.2/30.0
• Appreciation +5.0/10.0
• Condition / age +5.0/5.0
• 1% rule +3.1/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• DSCR +1.4/10.0

Listing remarks

This home is currently under construction and will be ready for an est May 2026 Move-In! Tides at Ocean Club offers New Construction, Two-Story Townhomes in Egg Harbor Township, with easy access to major commuting routes situated within an amenity filled community offering a 7,500 Sq. Ft. Clubhouse, Outdoor Pool, Basketball Court, Playgrounds, Tennis Courts, Bike Rack & Walking Trails! The Delmar is a stunning new construction 2 story townhome plan featuring 1,500 square feet of living space including 3 bedrooms, 2.5 baths and a 1-car garage. The convenience of townhome living meets the amenities of a single-family home with the Delmar. The main level eat-in kitchen with large pantr

Key facts

• Garage
• Community pool
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $365k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-496 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $336k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (19.4% below list).
• Recommended offer: $294k (19.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Egg Harbor Township School District (suburban): math 18% / reading 46% proficiency, ranked #311 of 472 in NJ (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clayton J. Davenport Elementary School (math 17% / reading 32%, grade F, #878 of 1,303 statewide, top 70%, 757 students, 64% FRL); Fernwood Avenue Middle School (math 13% / reading 50%, grade F, #289 of 431 statewide, top 69%, 883 students, 50% FRL); Egg Harbor Township High School (math 32% / reading 52%, grade F, #169 of 399 statewide, top 44%, 2,335 students, 47% FRL) — zoned schools average 54% FRL vs 34% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($3k loan paydown + $11k appreciation (3.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $294,193 (19.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.81% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.83%
• DSCR: 0.74
• GRM: 10.3

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: 2.1%
• Equity multiple: 1.12×
• Total profit: $12,590
• Equity at exit: $164,115

10-year hold

• IRR: 5.7%
• Equity multiple: 1.88×
• Total profit: $89,484
• Equity at exit: $252,921

Cash invested: $102,197 (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 08234-3907

• Active inventory: 1
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,942 medium
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,475/yr
• Insurance: −$152
• HOA est. from 1 same-building comp: −$298
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $-496

Break-even live

Break-even rent $3,570

Max offer price $293,183

Occupancy floor —

Sensitivity live

Price	-10% $-244	-5% $-370	+0% $-496	+5% $-622	+10% $-748
Rent	-10% $-729	-5% $-612	+0% $-496	+5% $-380	+10% $-264
Rate	-1.0pp $-312	-0.5pp $-403	base $-496	+0.5pp $-591	+1.0pp $-687

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: $91,248
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Hermosa Dr Unit 222 Egg Harbor Township, NJ	3.0	2.5	1500	$2,850	$1.90	15d	1	0.11mi
103 Corolla DR Egg Harbor Township, NJ	3.0	2.5	1500	$3,000	$2.00	23d	1	0.13mi
208 Hermosa DR Egg Harbor Township, NJ	3.0	2.5	1500	$3,000	$2.00	23d	1	0.14mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 1 events

1. 2026-02-01
   listed $364,990

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,303
• − Mortgage interest: −$20,445
• − Property taxes: −$5,475
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,824
• − Management: −$2,824
• − HOA: −$3,576
• − Depreciation: −$10,618
• Taxable loss: −$12,284
• Est. tax savings @ 24.0%: +$2,948
• After-tax cash flow: $-3,007/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

Excellent 100/100 None rehab

This move-in-ready townhome is in excellent condition with modern finishes and a well-maintained exterior. Potential buyers and renters will appreciate the curb appeal and smart home features.

Value-add opportunities

• Resale Painting the exterior siding — Enhances curb appeal and can increase property value
• Resale Landscaping improvements — Enhances curb appeal and can increase property value
• Both Adding smart home features — Improves convenience and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Enhances curb appeal and can increase property value ↑
• Resale Landscaping improvements — Enhances curb appeal and can increase property value ↑
• Both Adding smart home features — Improves convenience and can increase both resale and rental 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: Egg Harbor Township School District
• NCES district ID: 3404560
• Math proficiency: 18% ▼ -24.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $71,612
• Composite: 29.81/100
• National rank: #6421
• State rank: #311 of 472 in NJ

Livability — Egg Harbor

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

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-02-01 Listed $364,990 CMCMLS