291 N. Virginia Avenue-LOT #36 291 N. Virginia Avenue, Lot #36 #36 · Carneys Point, NJ 08069

$65,000

2 bd · 1.0 ba · 800 sqft · Manufactured · 129 Days on market

Built 2006 $81/sqft · 59% below area $575/mo HOA · 31% of rent

---

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
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced right, this ready to move in mobile home is situated in a quiet, well maintained community area located in bustling Carneys Point Township off Route 130 (N. Virginia Avenue). The location provides access to schools, churches and the necessities of life making this trailer convenient as well as being in very good condition; ready for the new owner. Currently is tenant occupied (rent $1,000.00 per month) and is currently on month to month lease. Seller pays lot rent at $575, collected monthly. Make this your new home or the ideal investment and continue to rent it out. Propane heating, with 2 assigned parking places dedicated per unit. Nice location and affordable living.

Key facts

• Propane heating
• Access to schools
• Quiet community area

Tags

• QUIET COMMUNITY AREA
• ACCESS TO SCHOOLS
• PROPANE HEATING
• 2 ASSIGNED PARKING PLACES

🏷️ Possibly a rental listed for sale. The $65,000 price doesn't fit this home's estimated sale value (~$157,228) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $420 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 5.1% in Carneys Point — 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 57/100 on livability (#515 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing B+; Watch: employment C-, schools D-, amenities F.
• Penns Grove-Carneys Point Regional School District (suburban): math 6% / reading 21% proficiency, ranked #462 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 101 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($72k/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 $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: major wind risk, 27% 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.81% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.70%
• DSCR: 2.23
• GRM: 3.0

CMA / ARV

• ARV (median comp): $157,228
• List price: $65,000
• Delta: -58.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.2%
• Equity multiple: 1.91×
• Total profit: $16,603
• Equity at exit: $9,692

10-year hold

• IRR: 30.4%
• Equity multiple: 3.77×
• Total profit: $50,457
• Equity at exit: $5,620

Cash invested: $18,200 (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 08069

• Home prices YoY: -18.8%
• Active inventory: 101
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$575
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $420

Break-even live

Break-even rent $1,296

Max offer price $65,000

Occupancy floor 72%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 Penns Grove Auburn Rd Penns Grove, NJ	1.0–2.0	1.0	875	$1,650	$1.89	1d	3	0.49mi

HOA detail

• Monthly dues: $575 · $6,900/yr
• Likely covers: parking

Listing history 17 events

1. 2026-06-18
   days on market $65,000 Active 129 DOM
2. 2026-06-17
   days on market $65,000 Active 128 DOM
3. 2026-06-16
   days on market $65,000 Active 127 DOM
4. 2026-06-15
   days on market $65,000 Active 126 DOM
5. 2026-06-13
   days on market $65,000 Active 124 DOM
6. 2026-06-09
   days on market $65,000 Active 120 DOM
7. 2026-06-08
   days on market $65,000 Active 119 DOM
8. 2026-06-07
   days on market $65,000 Active 118 DOM
9. 2026-06-04
   days on market $65,000 Active 115 DOM
10. 2026-06-03
    days on market $65,000 Active 114 DOM
11. 2026-06-02
    days on market $65,000 Active 113 DOM
12. 2026-06-01
    days on market $65,000 Active 112 DOM
13. 2026-05-31
    days on market $65,000 Active 111 DOM
14. 2026-03-20
    price $65,000 685-char remark

    Show marketing remark (685 chars)

    Priced right, this ready to move in mobile home is situated in a quiet, well maintained community area located in bustling Carneys Point Township off Route 130 (N. Virginia Avenue). The location provides access to schools, churches and the necessities of life making this trailer convenient as well as being in very good condition; ready for the new owner. Currently is tenant occupied (rent $1,000.00 per month) and is currently on month to month lease. Seller pays lot rent at $575, collected monthly. Make this your new home or the ideal investment and continue to rent it out. Propane heating, with 2 assigned parking places dedicated per unit. Nice location and affordable living.

15. 2026-02-09
    listed $61,800 Active 685-char remark

    Show marketing remark (685 chars)

    Priced right, this ready to move in mobile home is situated in a quiet, well maintained community area located in bustling Carneys Point Township off Route 130 (N. Virginia Avenue). The location provides access to schools, churches and the necessities of life making this trailer convenient as well as being in very good condition; ready for the new owner. Currently is tenant occupied (rent $1,000.00 per month) and is currently on month to month lease. Seller pays lot rent at $575, collected monthly. Make this your new home or the ideal investment and continue to rent it out. Propane heating, with 2 assigned parking places dedicated per unit. Nice location and affordable living.

16. 2015-09-30
    historical
17. 2015-03-30
    listed $20,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,938
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − HOA: −$6,900
• − Depreciation: −$1,891
• Taxable income: $4,696
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $3,914/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: Penns Grove-Carneys Point Regional School District
• NCES district ID: 3412840
• Math proficiency: 6% ▼ -16.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $44,930
• Composite: 11.98/100
• National rank: #9665
• State rank: #462 of 472 in NJ

Livability — Carneys Point

• Score: 57/100
• State rank: #515
• US rank: #21958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carneys Point, NJ
• County: Salem County · 24,175 people
• City population: 13,413
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,413
• Household income: $71,942
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 696.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 22% Black 22% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.07%
• Current HPI: 290.3853
• Rent YoY: —
• 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

+225.0% since first listed

4 events — show timeline

• 2026-03-20 Price Changed $65,000 BRIGHT MLS
• 2026-02-09 Listed $61,800 BRIGHT MLS
• 2015-09-30 Listing Removed — BRIGHT MLS
• 2015-03-30 Listed $20,000 BRIGHT MLS