1 Alpine Rd Unit A · Pine Ridge at Crestwood, NJ 08759

$189,900

2 bd · 2.0 ba · 1,544 sqft · MultiFamily · 28 Days on market

Built 1983 5,662 sqft lot $123/sqft · 24% below area Est $250k · 24% under $153/mo HOA · 8% of rent

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Why this score? — see what drove the C- 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 +15.0/15.0
• Cash flow +14.8/30.0
• 1% rule +5.1/10.0
• DSCR +4.5/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

55+COMMUNITY IN CRESTWOOD VILLAGE SIX. WELL TAKEN CARE LYNNEWOOD AND IS READY FOR A NEW OWNER.TWO LARGE BEDROOMS AND TWO FULL BATHS.ENJOY THE THREE SEASON ROOM OFF THE KITCHEN.LARGE EAT IN KITCHEN AND A FULL DINING RM.HEATED SUNROOM IN FRONT CAN BE USED YEAR ROUND. NEWER WINDOWS AND WALKING DISTANCE TO CLUBHOUSE VILLAGE SIX.ACTIVE CLUBHOUSE WITH MANY CLUBS TO ENJOY.LOW TAXES AND MAINTENANCE FEE.ROOF AND TERMITE TREATMENT IS INCLUDED IN MAINTENANCE FEE ALSO GRASS CUTTING AND MORE. THIS HOME AS A CEMENT HANDICAPPED RAMP IN FRONT AND ALSO STAIRS. A MUST SEE!

Key facts

• Heated sunroom
• Active clubhouse
• Three-season room

Tags

• HANDICAP ACCESSIBLE
• WALK-IN SHOWER
• HEATED SUNROOM
• THREE-SEASON ROOM
• ACTIVE CLUBHOUSE
• INCLUDED BUS SERVICE

Property features AI

Finance

• HOA & community: HOA present with a monthly fee of $153

Exterior

• Parking: 1-car garage
• Utilities: Public sewer
• Home design: Model: Lynnewood; Fee simple ownership
• Exterior features: Shingle roof

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Baseboard heating; Central electric air conditioning
• Interior features: Outdoor lighting; Light fixtures; Crawl space basement; Living room; Dining room; Sunroom
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $53 ($640/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#481 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B; Watch: employment D, schools F, amenities F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 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 $6k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $78k; list at $190k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,051 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 8.2

CMA / ARV

• ARV (median comp): $249,779
• List price: $189,900
• Delta: -23.97%
• 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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-27,252
• Equity at exit: $28,315

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-18,857
• Equity at exit: $16,419

Cash invested: $53,172 (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 08759

• Active inventory: 648
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$153
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $53

Break-even live

Break-even rent $1,855

Max offer price $189,900

Occupancy floor 92%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Partridge Pl Manchester Township, NJ	3.0	2.0	1248	$1,780	$1.43	12d	1	0.39mi
— Manchester Township, NJ	2.0	2.0	1141	$1,700	$1.49	10d	1	0.44mi
7 Teal Ct Whiting, NJ	2.0	2.0	1056	$1,600	$1.52	3d	1	0.50mi
9B Portsmouth St Unit 54B Whiting, NJ	2.0	2.0	1544	$2,400	$1.55	1d	1	1.18mi
9B Portsmouth St Unit 54B Whiting, NJ	2.0	2.0	1544	$2,350	$1.52	20d	1	1.18mi
16B Ivy Ct Unit A Manchester Township, NJ	2.0	2.0	1544	$2,400	$1.55	1d	1	1.37mi

HOA detail

• Monthly dues: $153 · $1,836/yr

Listing history 8 events

1. 2026-04-30
   listed $189,900 Active 603-char remark
2. 2015-12-01
   soldstatus $77,500 Sold 561-char remark

   Show marketing remark (561 chars)

   55+COMMUNITY IN CRESTWOOD VILLAGE SIX. WELL TAKEN CARE LYNNEWOOD AND IS READY FOR A NEW OWNER.TWO LARGE BEDROOMS AND TWO FULL BATHS.ENJOY THE THREE SEASON ROOM OFF THE KITCHEN.LARGE EAT IN KITCHEN AND A FULL DINING RM.HEATED SUNROOM IN FRONT CAN BE USED YEAR ROUND. NEWER WINDOWS AND WALKING DISTANCE TO CLUBHOUSE VILLAGE SIX.ACTIVE CLUBHOUSE WITH MANY CLUBS TO ENJOY.LOW TAXES AND MAINTENANCE FEE.ROOF AND TERMITE TREATMENT IS INCLUDED IN MAINTENANCE FEE ALSO GRASS CUTTING AND MORE. THIS HOME AS A CEMENT HANDICAPPED RAMP IN FRONT AND ALSO STAIRS. A MUST SEE!

3. 2015-10-30
   historical 561-char remark

   Show marketing remark (561 chars)

   55+COMMUNITY IN CRESTWOOD VILLAGE SIX. WELL TAKEN CARE LYNNEWOOD AND IS READY FOR A NEW OWNER.TWO LARGE BEDROOMS AND TWO FULL BATHS.ENJOY THE THREE SEASON ROOM OFF THE KITCHEN.LARGE EAT IN KITCHEN AND A FULL DINING RM.HEATED SUNROOM IN FRONT CAN BE USED YEAR ROUND. NEWER WINDOWS AND WALKING DISTANCE TO CLUBHOUSE VILLAGE SIX.ACTIVE CLUBHOUSE WITH MANY CLUBS TO ENJOY.LOW TAXES AND MAINTENANCE FEE.ROOF AND TERMITE TREATMENT IS INCLUDED IN MAINTENANCE FEE ALSO GRASS CUTTING AND MORE. THIS HOME AS A CEMENT HANDICAPPED RAMP IN FRONT AND ALSO STAIRS. A MUST SEE!

4. 2015-06-17
   status Active 561-char remark

   Show marketing remark (561 chars)

   55+COMMUNITY IN CRESTWOOD VILLAGE SIX. WELL TAKEN CARE LYNNEWOOD AND IS READY FOR A NEW OWNER.TWO LARGE BEDROOMS AND TWO FULL BATHS.ENJOY THE THREE SEASON ROOM OFF THE KITCHEN.LARGE EAT IN KITCHEN AND A FULL DINING RM.HEATED SUNROOM IN FRONT CAN BE USED YEAR ROUND. NEWER WINDOWS AND WALKING DISTANCE TO CLUBHOUSE VILLAGE SIX.ACTIVE CLUBHOUSE WITH MANY CLUBS TO ENJOY.LOW TAXES AND MAINTENANCE FEE.ROOF AND TERMITE TREATMENT IS INCLUDED IN MAINTENANCE FEE ALSO GRASS CUTTING AND MORE. THIS HOME AS A CEMENT HANDICAPPED RAMP IN FRONT AND ALSO STAIRS. A MUST SEE!

5. 2015-06-13
   historical 561-char remark

   Show marketing remark (561 chars)

   55+COMMUNITY IN CRESTWOOD VILLAGE SIX. WELL TAKEN CARE LYNNEWOOD AND IS READY FOR A NEW OWNER.TWO LARGE BEDROOMS AND TWO FULL BATHS.ENJOY THE THREE SEASON ROOM OFF THE KITCHEN.LARGE EAT IN KITCHEN AND A FULL DINING RM.HEATED SUNROOM IN FRONT CAN BE USED YEAR ROUND. NEWER WINDOWS AND WALKING DISTANCE TO CLUBHOUSE VILLAGE SIX.ACTIVE CLUBHOUSE WITH MANY CLUBS TO ENJOY.LOW TAXES AND MAINTENANCE FEE.ROOF AND TERMITE TREATMENT IS INCLUDED IN MAINTENANCE FEE ALSO GRASS CUTTING AND MORE. THIS HOME AS A CEMENT HANDICAPPED RAMP IN FRONT AND ALSO STAIRS. A MUST SEE!

6. 2015-05-08
   listed $102,500 Active 561-char remark

   Show marketing remark (561 chars)

   55+COMMUNITY IN CRESTWOOD VILLAGE SIX. WELL TAKEN CARE LYNNEWOOD AND IS READY FOR A NEW OWNER.TWO LARGE BEDROOMS AND TWO FULL BATHS.ENJOY THE THREE SEASON ROOM OFF THE KITCHEN.LARGE EAT IN KITCHEN AND A FULL DINING RM.HEATED SUNROOM IN FRONT CAN BE USED YEAR ROUND. NEWER WINDOWS AND WALKING DISTANCE TO CLUBHOUSE VILLAGE SIX.ACTIVE CLUBHOUSE WITH MANY CLUBS TO ENJOY.LOW TAXES AND MAINTENANCE FEE.ROOF AND TERMITE TREATMENT IS INCLUDED IN MAINTENANCE FEE ALSO GRASS CUTTING AND MORE. THIS HOME AS A CEMENT HANDICAPPED RAMP IN FRONT AND ALSO STAIRS. A MUST SEE!

7. 2010-09-07
   soldstatus $80,000

   Show marketing remark (338 chars)

   55+ COMMUNITY IN CRESTWOOD VILLAGE 6. CORNER LYNNEWOOD MODEL WITH 2 LARGE BEDROOMS AND 2 FULL BATHS. NEWER WINDOWS THRU-OUT. SPRINKLER. CENTRAL A/C IS NEWER. HOME IS SUNNY AND BRIGHT AND HAS A THREE SEASON PORCH FROM THE KICHEN TO ENJOY. ALSO LARGE ENCLOSED FRONT PORCH TO ENJOY YEAR ROUND. QUIET STREET YET CLOSE TO SHOPPING AND BEACHES!

8. 2010-02-02
   listed $85,000

   Show marketing remark (338 chars)

   55+ COMMUNITY IN CRESTWOOD VILLAGE 6. CORNER LYNNEWOOD MODEL WITH 2 LARGE BEDROOMS AND 2 FULL BATHS. NEWER WINDOWS THRU-OUT. SPRINKLER. CENTRAL A/C IS NEWER. HOME IS SUNNY AND BRIGHT AND HAS A THREE SEASON PORCH FROM THE KICHEN TO ENJOY. ALSO LARGE ENCLOSED FRONT PORCH TO ENJOY YEAR ROUND. QUIET STREET YET CLOSE TO SHOPPING AND BEACHES!

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,069
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − HOA: −$1,836
• − Depreciation: −$5,524
• Taxable loss: −$2,418
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $1,220/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: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Pine Ridge at Crestwood

• Score: 60/100
• State rank: #481
• US rank: #18916

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Ridge at Crestwood, NJ
• City population: 34,290
• Population (ZIP): 34,290

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.85%
• Current HPI: 274.4679
• 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

+123.4% since first listed

9 events — show timeline

• 2026-05-29 Pending — MOMLS
• 2026-04-30 Listed $189,900 MOMLS
• 2015-12-01 Sold (MLS) $77,500 MOMLS
• 2015-10-30 Delisted — MOMLS
• 2015-06-17 Relisted — MOMLS
• 2015-06-13 Delisted — MOMLS
• 2015-05-08 Listed $102,500 MOMLS
• 2010-09-07 Sold (MLS) $80,000 MOMLS
• 2010-02-02 Listed $85,000 MOMLS