167 La Cascata #167

Lindenwold, NJ 08021

$190,000D+

2 bd · 1.5 ba · 1,016 sqft · Built 1975 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,905/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$317
• HOA: −$210
• Vac / Maint / Mgmt: −$400
• Net cashflow: $-18/mo
• Annual: $-217/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• 1% rule: 1.00%
• Cash to close: $53,200

Investor read

• This is a 2-bed/1.5-bath single-family listed at $190k. Condition is rated average.
• At list price, monthly cash flow is $-18 ($-217/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (1.4% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• It's been on market 49 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 68/100 on livability (#312 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, cost of living B; Watch: employment C-, crime D, amenities D-.
• 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.
• Zoned schools: Charles W. Lewis Middle School (math 13% / reading 44%, grade F, #332 of 431 statewide, top 77%, 707 students, 54% FRL); Highland Regional High School (math 9% / reading 41%, grade F, #325 of 399 statewide, top 81%, 1,204 students, 31% FRL).
• Market conditions: Rents rising (+3.0%/yr); 242 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.
• This rent runs 34% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Exterior siding — There are some minor discolorations and stains on the exterior siding.
• Minor: Interior walls/paint — There is some minor discoloration on the interior walls and paint.
• Minor: Landscaping — The landscaping appears to be in average condition with some minor overgrowth and lack of maintenance.
• Minor: Bathrooms — The bathrooms appear to be in average condition with some minor wear.
• Minor: Kitchen — The kitchen appears to be in average condition with some minor wear.