83 Coles Rd · Blackwood, NJ 08012

$135,000

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 101 Days on market

Built 1825

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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
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is Fannie Mae Homepath property. Make this house your home with tender loving care. This property is located near the major road, It has 2 bedrooms, 1 full bath and unfinished basement. Very good investment opportunity.

Key facts

• Built 1825
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.6% in Blackwood — 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 70/100 on livability (#269 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-; Watch: schools C-, cost of living C-, amenities F.
• Gloucester Township Public Schools (suburban): math 14% / reading 41% proficiency, ranked #351 of 472 in NJ (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.2%/yr); 174 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 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 $933 of loan paydown is wiped out by about $4k 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 + 4.2% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.
• Current owner paid $10k; list at $135k implies a 1250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1825 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% 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 $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1825 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.58% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.01%
• DSCR: 1.85
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $302,376
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
342 Empire Ave	0.44mi	3/2.0 (+1)	1,091 (+6%)	1mo	$185,000	$170	60
531 Cloverdale Rd	0.64mi	3/1.0 (+1)	1,008 (-2%)	11mo	$295,000	$293	52
326 Hillcrest Ln	0.56mi	3/1.0 (+1)	1,120 (+8%)	8mo	$335,000	$299	48
529 E Blenheim Ave	0.62mi	3/2.0 (+1)	1,155 (+12%)	11mo	$350,000	$303	34
307 North Dr	0.46mi	3/1.5 (+1)	912 (-12%)	23mo	$207,000	$227	32
242 Cedar Ave	0.71mi	3/1.0 (+1)	1,161 (+12%)	12mo	$286,000	$246	31
122 Keystone Ave	0.69mi	2/1.0	1,152 (+12%)	21mo	$230,000	$200	31
116 Keystone Ave	0.72mi	3/2.0 (+1)	1,176 (+14%)	6mo	$350,000	$298	29

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.50×
• Total profit: $18,903
• Equity at exit: $20,129

10-year hold

• IRR: 22.3%
• Equity multiple: 3.03×
• Total profit: $76,642
• Equity at exit: $11,672

Cash invested: $37,800 (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 08012

• Rents YoY: 4.2%
• Active inventory: 174
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,130 high
• Mortgage (P&I): −$708
• Tax from tax record: −$319 /mo · $3,832/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $599

Break-even live

Break-even rent $1,372

Max offer price $135,000

Occupancy floor 67%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Blenheim-Erial Rd Blackwood, NJ	1.0–2.0	1.0–2.0	1439	$2,670	$1.85	1d	1	0.32mi
230 Almonesson Rd Unit A Blackwood, NJ	2.0	1.0	900	$1,900	$2.11	10d	1	0.73mi
1501 Old Black Horse Pike Blackwood, NJ	1.0–2.0	1.0–1.5	1045	$2,170	$2.08	1d	25	0.90mi
227 Washington Ave Apt D2 Blackwood, NJ	1.0	1.0	700	$1,395	$1.99	10d	1	0.90mi
227 Washington Ave Blackwood, NJ	1.0	1.0	700	$1,375	$1.96	1d	1	0.91mi
432 Highland Ests Clementon, NJ	1.0	1.0	827	$1,500	$1.81	12d	1	1.21mi
1341 Blackwood Clementon Rd Clementon, NJ	1.0–2.0	1.0	925	$2,564	$2.77	1d	26	1.23mi
590 Lower Landing Rd Blackwood, NJ	3.0	1.0–1.5	1030	$2,087	$2.03	1d	10	1.39mi
752 Davistown Rd Blackwood, NJ	1.0–2.0	1.0–2.0	950	$2,817	$2.96	1d	19	1.42mi
1200 Little Gloucester Rd Clementon, NJ	1.0–2.0	1.0	875	$3,100	$3.54	1d	1	1.47mi

Listing history 37 events

1. 2026-06-18
   days on market $135,000 Active 101 DOM
2. 2026-06-17
   days on market $135,000 Active 100 DOM
3. 2026-06-16
   days on market $135,000 Active 99 DOM
4. 2026-06-15
   days on market $135,000 Active 98 DOM
5. 2026-06-13
   days on market $135,000 Active 96 DOM
6. 2026-06-13
   days on market $135,000 Active 95 DOM
7. 2026-06-09
   days on market $135,000 Active 92 DOM
8. 2026-06-08
   days on market $135,000 Active 91 DOM
9. 2026-06-07
   days on market $135,000 Active 90 DOM
10. 2026-06-04
    days on market $135,000 Active 87 DOM
11. 2026-06-03
    days on market $135,000 Active 86 DOM
12. 2026-06-02
    days on market $135,000 Active 85 DOM
13. 2026-06-01
    days on market $135,000 Active 84 DOM
14. 2026-05-31
    days on market $135,000 Active 83 DOM
15. 2026-03-05
    listed $135,000 Active 224-char remark

    Show marketing remark (224 chars)

    This is Fannie Mae Homepath property. Make this house your home with tender loving care. This property is located near the major road, It has 2 bedrooms, 1 full bath and unfinished basement. Very good investment opportunity.

16. 2024-09-18
    historical
17. 2024-07-11
    price $350,000
18. 2024-07-02
    price $414,999
19. 2024-06-18
    listed $415,000 Active
20. 2024-04-09
    historical
21. 2024-02-26
    historical Active Under Contract
22. 2024-02-17
    price $75,000
23. 2024-02-08
    price $89,000
24. 2024-01-12
    listed $95,000 Active
25. 2024-01-08
    historical
26. 2023-12-01
    price $119,900
27. 2023-11-21
    price $129,900
28. 2023-11-09
    listed $139,900 Active
29. 2018-02-28
    soldstatus $10,000 Sold
30. 2018-02-28
    soldstatus $10,000
31. 2018-02-20
    status Under Contract
32. 2018-02-03
    price $13,900
33. 2018-01-06
    price $16,900
34. 2017-11-29
    listed $21,000 Active
35. 2017-11-29
    listed $13,900
36. 1986-08-07
    soldstatus $42,000
37. 1984-01-01
    soldstatus $5,310,000

ⓘ 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: $3,832 · $319/mo
• Projected year-2 tax: $3,832 · $319/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $25,554
• − Mortgage interest: −$7,562
• − Property taxes: −$3,832
• − Insurance: −$675
• − Repairs & maintenance: −$2,044
• − Management: −$2,044
• − Depreciation: −$3,927
• Taxable income: $5,470
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $5,873/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: Gloucester Township Public Schools
• NCES district ID: 3406030
• Math proficiency: 14% ▼ -28.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $72,539
• Composite: 26.18/100
• National rank: #7269
• State rank: #351 of 472 in NJ

Livability — Blackwood

• Score: 70/100
• State rank: #269
• US rank: #7928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Camden County · 407,624 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 41,812
• Household income: $95,451
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 1264.0

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 (71%)
• Race & ethnicity: White 71% Black 10% Hispanic / Latino 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 4% Tagalog/Filipino 1%

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: ▼ -232.79%
• Current HPI: 315.9676
• Rent YoY: ▲ 4.16%
• 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

-97.5% since first listed

23 events — show timeline

• 2026-03-05 Listed $135,000 Fizber.com
• 2024-09-18 Listing Removed — BRIGHT MLS
• 2024-07-11 Price Changed $350,000 BRIGHT MLS
• 2024-07-02 Price Changed $414,999 BRIGHT MLS
• 2024-06-18 Listed $415,000 BRIGHT MLS
• 2024-04-09 Listing Removed — BRIGHT MLS
• 2024-02-26 Contingent — BRIGHT MLS
• 2024-02-17 Price Changed $75,000 BRIGHT MLS
• 2024-02-08 Price Changed $89,000 BRIGHT MLS
• 2024-01-12 Listed $95,000 BRIGHT MLS
• 2024-01-08 Listing Removed — BRIGHT MLS
• 2023-12-01 Price Changed $119,900 BRIGHT MLS
• 2023-11-21 Price Changed $129,900 BRIGHT MLS
• 2023-11-09 Listed $139,900 BRIGHT MLS
• 2018-02-28 Sold (MLS) $10,000 BRIGHT MLS
• 2018-02-28 Sold (MLS) $10,000 TREND
• 2018-02-20 Pending — TREND
• 2018-02-03 Price Changed $13,900 TREND
• 2018-01-06 Price Changed $16,900 TREND
• 2017-11-29 Listed $13,900 BRIGHT MLS
• 2017-11-29 Listed $21,000 TREND
• 1986-08-07 Sold (Public Records) $42,000 Public Records
• 1984-01-01 Sold (Public Records) $5,310,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $3,832 · +1.8% YoY. Source: county tax records.