1 Mill St · Mays Landing, NJ 08330

$300,000

3 bd · 1.5 ba · 2,092 sqft · SingleFamily public records · 62 Days on market

Built 1918 $143/sqft · 16% below area Est $357k · 16% under

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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 +14.7/15.0
• Cash flow +13.8/30.0
• Appreciation +10.0/10.0
• 1% rule +4.3/10.0
• DSCR +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

This spacious 1918 historic home is full of character and ready for its next chapter. It offers 3 bedrooms plus an extra room that could be used as a 4th bedroom, office, or guest space. The first floor features a formal dining room, an updated kitchen, and a comfortable living room with a fireplace. Just off the living room is a bright sunroom with tons of windows, perfect for relaxing. There’s also a first floor laundry area and a nicely updated half bath. Beautiful hardwood floors run throughout the home. Upstairs, you’ll find three bedrooms, an additional bonus room, and a full bathroom, along with a screened-in balcony for some outdoor space. The basement offers plenty of storage and includes an upgraded electrical panel, newer tankless hot water heater, and a newer high-efficiency boiler for the baseboard heat on the first floor. A detached garage provides even more storage. The home does need some work, but it has great space, solid features, and tons of potential to make it your own.

Key facts

• First floor laundry
• Updated kitchen
• Bright sunroom

Tags

• HISTORIC HOME
• UPDATED KITCHEN
• BRIGHT SUNROOM
• FIRST FLOOR LAUNDRY
• SCREENED-IN BALCONY
• UPGRADED ELECTRICAL PANEL

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $27 ($323/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (7.0% below list).
• Recommended offer: $279k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% in Mays Landing — 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 72/100 on livability (#214 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety B+; Watch: commute C-, cost of living D+, amenities F.
• Hamilton Township School District (suburban): math 9% / reading 37% proficiency, ranked #401 of 472 in NJ (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 240 active listings in the ZIP; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $210k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate 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 $278,892 (7.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.93% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 9.0

CMA / ARV

• ARV (median comp): $356,816
• List price: $300,000
• Delta: -15.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Mill St	0.00mi	3/1.5	2,092 (0%)	1mo	$300,000	$143	99
6062 Main St	0.45mi	4/2.0 (+1)	2,000 (-4%)	8mo	$430,000	$215	58
1007 Matthews Ave Ave	0.54mi	4/1.5 (+1)	1,848 (-12%)	2mo	$298,000	$161	49
6161 Falcon Run Rd	0.60mi	3/2.5	1,900 (-9%)	16mo	$340,000	$179	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.97×
• Total profit: $165,205
• Equity at exit: $270,264

10-year hold

• IRR: 21.7%
• Equity multiple: 6.78×
• Total profit: $485,366
• Equity at exit: $582,834

Cash invested: $84,000 (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 08330

• Home prices YoY: 3.9%
• Active inventory: 240
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,789 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$478 /mo · $5,738/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $27

Break-even live

Break-even rent $2,755

Max offer price $300,000

Occupancy floor 94%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-05
   historical Under Contract 1018-char remark

   Show marketing remark (1018 chars)

   This spacious 1918 historic home is full of character and ready for its next chapter. It offers 3 bedrooms plus an extra room that could be used as a 4th bedroom, office, or guest space. The first floor features a formal dining room, an updated kitchen, and a comfortable living room with a fireplace. Just off the living room is a bright sunroom with tons of windows, perfect for relaxing. There’s also a first floor laundry area and a nicely updated half bath. Beautiful hardwood floors run throughout the home. Upstairs, you’ll find three bedrooms, an additional bonus room, and a full bathroom, along with a screened-in balcony for some outdoor space. The basement offers plenty of storage and includes an upgraded electrical panel, newer tankless hot water heater, and a newer high-efficiency boiler for the baseboard heat on the first floor. A detached garage provides even more storage. The home does need some work, but it has great space, solid features, and tons of potential to make it your own.

2. 2026-03-26
   listed $300,000 Active 1018-char remark

   Show marketing remark (1018 chars)

   This spacious 1918 historic home is full of character and ready for its next chapter. It offers 3 bedrooms plus an extra room that could be used as a 4th bedroom, office, or guest space. The first floor features a formal dining room, an updated kitchen, and a comfortable living room with a fireplace. Just off the living room is a bright sunroom with tons of windows, perfect for relaxing. There’s also a first floor laundry area and a nicely updated half bath. Beautiful hardwood floors run throughout the home. Upstairs, you’ll find three bedrooms, an additional bonus room, and a full bathroom, along with a screened-in balcony for some outdoor space. The basement offers plenty of storage and includes an upgraded electrical panel, newer tankless hot water heater, and a newer high-efficiency boiler for the baseboard heat on the first floor. A detached garage provides even more storage. The home does need some work, but it has great space, solid features, and tons of potential to make it your own.

3. 2023-02-10
   soldstatus $209,500
4. 2023-01-30
   soldstatus $209,500 Closed 1107-char remark

   Show marketing remark (1107 chars)

   OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

5. 2022-12-12
   status Pending 1107-char remark

   Show marketing remark (1107 chars)

   OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

6. 2022-12-07
   historical Active Under Contract 1107-char remark

   Show marketing remark (1107 chars)

   OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

7. 2022-11-11
   price $219,000 1107-char remark

   Show marketing remark (1107 chars)

   OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

8. 2022-10-28
   status Active 1107-char remark

   Show marketing remark (1107 chars)

   OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

9. 2022-09-21
   status Pending 1107-char remark

   Show marketing remark (1107 chars)

   OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

10. 2022-08-19
    price $230,000 1107-char remark

    Show marketing remark (1107 chars)

    OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

11. 2022-07-25
    listed $249,999 Active 1107-char remark

    Show marketing remark (1107 chars)

    OPEN HOUSE SUNDAY 11am-1pm! NEW PRICE. Introducing 1 Mill Street, Mays Landing. This property is historic and has great bones. Built in 1918, this property has your high ceilings, open and spacious living space and large size bedrooms. The property consists of nearly 2,000 sqft and a lot size of nearly 6,400 sqft. Downstairs, you enter the property to a bright and spacious foyer. On the right is a large living room and a den/office space. Across from this, is a sizable dinning room, then kitchen, laundry room and restroom. Upstairs: Four large and bright newly painted bedrooms and a full restroom and plenty of storage space. Additionally, there is a balcony on the second floor. This property has an unfinished basement. Dry and bright and a great walking height. The roof is a few years old. The property is well maintained. For modern updates, bring your vision to life and custom it to your taste and lifestyle, with this property. Just Kitchen and restroom needs updating, but perfectly functioning. A MUST SEE ! Local to Waterfront District, Gold Coast, Atlantic City. Book your viewing today !

ⓘ 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: $5,738 · $478/mo
• Projected year-2 tax: $6,604 · $550/mo
• Expected delta: +$866/yr (+$72/mo · 15.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,467
• − Mortgage interest: −$16,805
• − Property taxes: −$5,738
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,677
• − Management: −$2,677
• − Depreciation: −$8,727
• Taxable loss: −$4,657
• Est. tax savings @ 24.0%: +$1,118
• After-tax cash flow: $1,440/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: Hamilton Township School District
• NCES district ID: 3406510
• Math proficiency: 9% ▼ -20.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $60,997
• Composite: 21.34/100
• National rank: #8372
• State rank: #401 of 472 in NJ

Livability — Mays Landing

• Score: 72/100
• State rank: #214
• US rank: #5982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mays Landing, NJ
• County: Atlantic County · 143,611 people
• City population: 29,972
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 29,972
• Household income: $77,167
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1003.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 16% Black 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 84% English-only · Spanish 10% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.58%
• Current HPI: 308.5148
• Rent YoY: —
• Metro: Atlantic City-Hammonton, NJ
• 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

+20.0% since first listed

11 events — show timeline

• 2026-05-05 Contingent — SJSRMLS
• 2026-03-26 Listed $300,000 SJSRMLS
• 2023-02-10 Sold (Public Records) $209,500 Public Records
• 2023-01-30 Sold (MLS) $209,500 BRIGHT MLS
• 2022-12-12 Pending — BRIGHT MLS
• 2022-12-07 Contingent — BRIGHT MLS
• 2022-11-11 Price Changed $219,000 BRIGHT MLS
• 2022-10-28 Relisted — BRIGHT MLS
• 2022-09-21 Pending — BRIGHT MLS
• 2022-08-19 Price Changed $230,000 BRIGHT MLS
• 2022-07-25 Listed $249,999 BRIGHT MLS

Property tax history

+1.7%/yr

Latest (2025): $5,738 · +2.6% YoY. Source: county tax records.