3677 Sunset Ave · Victory Lakes, NJ 08094

$169,000

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 3 Days on market

Built 1960 0.33 ac lot Est $247k · 32% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +8.4/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The settlement will take 3-4 months to close. Property is being sold in strictly AS IS Condition. it is the buyers responsibility to obtain any necessary certification for occupancy

Key facts

• 0.33 acre lot
• 2 parking spots
• Built 1960

Property features AI

Exterior

• Parking: Two driveway parking spaces; Two total garage/parking spaces; Dirt driveway
• Utilities: Well water; Public sewer; No municipal trash service
• Home design: Detached single-family home; Single-story living (main-level bedrooms)
• Construction: Aluminum siding; Asphalt roof; Slab foundation; Building winterized; Above- and below-grade structures
• Exterior features: Lot roughly 120 x 120; Not in a federal flood zone; Pets allowed (dogs and cats OK)

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Hot water baseboard heating; Oil-fired heat
• Interior features: Main-floor laundry; No basement; 5 total rooms
• Laundry & utility: Laundry located on the main floor; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 9.6% vs local median 5.2% in Victory Lakes — 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 60/100 on livability (#477 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: schools F, amenities F, commute F.
• Monroe Township Public School District (suburban): math 20% / reading 45% proficiency, ranked #302 of 472 in NJ (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 268 active listings in the ZIP; solid renter incomes; 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Gloucester County population projected to shrink 5% 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 $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $169k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
6. 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.
7. 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: 1.34% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.71%
• DSCR: 1.52
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $247,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3519 Sunset Ave	0.21mi	2/1.0	954 (+0%)	8mo	$282,500	$296	83
1128 Poplar Ave	0.45mi	2/1.5	960 (+1%)	0mo	$250,000	$260	75
926 Sycamore Ln	0.28mi	3/1.0 (+1)	1,008 (+6%)	9mo	$240,000	$238	64
104 Jasmine Ln	0.54mi	2/2.0	924 (-3%)	10mo	$88,000	$95	58
2612 S Shore Dr	0.63mi	3/1.0 (+1)	960 (+1%)	8mo	$270,000	$281	58
3624 Lake Ave	0.22mi	3/2.0 (+1)	1,064 (+12%)	4mo	$324,900	$305	58
540 Dogwood Ln	0.65mi	2/2.0	1,000 (+5%)	2mo	$155,000	$155	55
237 Virginia Pl	0.34mi	2/2.0	1,060 (+12%)	7mo	$150,000	$142	55
463 Edgemont Dr	0.53mi	2/2.0	1,026 (+8%)	10mo	$162,500	$158	50
1437 9th Ave	0.52mi	3/1.0 (+1)	1,038 (+9%)	8mo	$315,000	$303	49
1434 10th Ave	0.59mi	3/1.0 (+1)	1,061 (+12%)	0mo	$300,000	$283	48
530 Dogwood Ln	0.65mi	2/2.0	1,056 (+11%)	11mo	$127,500	$121	38

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,167
• Equity at exit: $25,198

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $40,301
• Equity at exit: $14,612

Cash invested: $47,320 (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 08094

• Active inventory: 268
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,260 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$367 /mo · $4,406/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $462

Break-even live

Break-even rent $1,676

Max offer price $169,000

Occupancy floor 75%

Sensitivity live

Price	-10% $558	-5% $510	+0% $462	+5% $414	+10% $366
Rent	-10% $283	-5% $373	+0% $462	+5% $551	+10% $641
Rate	-1.0pp $547	-0.5pp $505	base $462	+0.5pp $418	+1.0pp $374

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $169,000 Active 3 DOM
2. 2026-06-17
   days on market $169,000 Active 2 DOM
3. 2026-06-15
   remarks 182-char remark
4. 2026-06-15
   listed $169,000 Active 1 DOM

ⓘ 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: $4,406 · $367/mo
• Projected year-2 tax: $4,406 · $367/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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,126
• − Mortgage interest: −$9,467
• − Property taxes: −$4,406
• − Insurance: −$845
• − Repairs & maintenance: −$2,170
• − Management: −$2,170
• − Depreciation: −$4,916
• Taxable income: $3,152
• Est. tax owed @ 24.0%: −$756
• After-tax cash flow: $4,787/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: Monroe Township Public School District
• NCES district ID: 3410470
• Math proficiency: 20% ▼ -24.00%
• Reading proficiency: 45% ▼ -9.00%
• Median HH income: $71,557
• Composite: 30.24/100
• National rank: #6295
• State rank: #302 of 472 in NJ

Livability — Victory Lakes

• Score: 60/100
• State rank: #477
• US rank: #18504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victory Lakes, NJ
• County: Gloucester County · 160,422 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 41,595
• Household income: $96,699
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 721.0

Population outlook (Gloucester County) Hauer SSP2

• Today (2025): 298,895 people
• By 2030: 299,031 · +0.0%
• By 2040: 294,020 · -1.6%
• By 2050: 284,188 · -4.9%
• By 2075: 260,720 · -12.8%
• By 2100: 229,565 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Black 10% Two or more races 8% Asian 1%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5% Russian/Polish/Slavic 1%

Political lean MEDSL · Gloucester

• 2024 margin: Toss-up / Even · D 47.8% · R 50.6% · Other 1.6%
• 2008→2024 swing: -15.0pp toward R · 2008: 12.2pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+1.9 2016: R+0.4 2012: D+10.5 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -213.12%
• Current HPI: 278.3849
• 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

+231.4% since first listed

4 events — show timeline

• 2026-06-15 Listed $169,000 BRIGHT MLS
• 2026-06-15 Coming Soon $169,000 BRIGHT MLS
• 1989-06-21 Sold (Public Records) $65,000 Public Records
• 1986-10-14 Sold (Public Records) $51,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $4,406 · +2.9% YoY. Source: county tax records.