134 Lamplighter Ct

Greentree, NJ 08053

$279,900D+

3 bd · 2.5 ba · 1,856 sqft · Built 1992 · Townhouse · Coming Soon · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,840/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$877
• HOA: −$100
• Vac / Maint / Mgmt: −$596
• Net cashflow: $-202/mo
• Annual: $-2,420/yr
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• 1% rule: 1.01%
• Cash to close: $78,372

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $280k.
• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (12.7% below list).
• Meets the 1% rule at list price ($3k rent vs $280k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $244k (12.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#121 in NJ, #3,201 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities D-, commute F, cost of living F.
• Lenape Regional High School District (suburban): math 34% / reading 60% proficiency, ranked #136 of 472 in NJ (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cherokee High School (math 32% / reading 59%, grade D-, #138 of 399 statewide, top 36%, 2,179 students, 10% FRL).
• Watch-outs: property tax is 3.3% of price.
• Market conditions: Rents rising (+3.0%/yr); 191 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.4% vs local median 3.6% in Greentree — 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.

Questions for listing agent

• 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?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.