45 Carroll Ave · Monroe, NJ 08094

$235,000

3 bd · 1.5 ba · 1,536 sqft · Townhouse public records · 33 Days on market

Built 1900 9,148 sqft lot Est $300k · 22% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in a charming neighborhood, this traditional twin home exudes warmth and character, making it the perfect place to create lasting memories. Built in 1900, this residence combines classic architectural style with modern conveniences, offering a delightful living experience. Step inside to discover a spacious layout that encompasses 1,536 square feet of finished living space. The hardwood flooring throughout adds a touch of elegance, while the abundance of natural light from double-pane windows creates a bright and inviting atmosphere. The main floor laundry is a thoughtful feature that enhances everyday convenience, allowing you to manage chores with ease. The heart of the home is th

Key facts

• Garage
• Built 1900
• Listed 32 days

Property features AI

Finance

• Other: Ownership: Fee simple; Pets allowed with no pet restrictions

Exterior

• Parking: Detached garage (1 garage space); Driveway parking (1 space); On-street parking available; Asphalt driveway
• Utilities: 100 amp electric service; Natural gas available; Public water; Public sewer; Cable TV and phone available
• Home design: Semi-detached home; Approximately 1,536 finished square feet above grade; Estimated year built
• Construction: Frame construction with vinyl siding; Architectural shingle roof; Concrete perimeter foundation; Double-pane windows; Garage(s) on site
• Exterior features: Porch(es); Not in a federal flood zone; Tidal water: No

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Range (not specified electric/gas)
• Bedrooms: Three bedrooms on the upper level
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Hot water baseboard heating; Natural gas heating and hot water
• Interior features: Plaster walls; Full basement
• Laundry & utility: Washer; Dryer; Main-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $235k.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $228k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• This rent runs 40% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $66k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% 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.

Recommended offer $227,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.39% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.75%
• DSCR: 1.75
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $299,520
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
444 Longfellow Dr	0.52mi	3/1.5	1,424 (-7%)	8mo	$275,000	$193	57
22 E Garwood Ave	0.53mi	3/1.5	1,480 (-4%)	20mo	$237,000	$160	53
908 Thoreau Ln	0.56mi	3/2.5	1,511 (-2%)	17mo	$310,000	$205	53
910 Thoreau Ln	0.57mi	2/1.5 (-1)	1,403 (-9%)	2mo	$285,000	$203	52
452 Longfellow Dr	0.54mi	3/1.5	1,424 (-7%)	14mo	$294,900	$207	50
906 Thoreau Ln	0.56mi	2/1.5 (-1)	1,655 (+8%)	9mo	$250,000	$151	49
422 Longfellow Dr	0.46mi	3/2.5	1,730 (+13%)	21mo	$312,000	$180	36
445 Longfellow Dr	0.51mi	3/2.5	1,750 (+14%)	19mo	$342,000	$195	33
750 Ames Rd	0.51mi	3/2.5	1,314 (-14%)	23mo	$300,000	$228	29
960 Poe Ct	0.68mi	3/2.5	1,725 (+12%)	24mo	$293,000	$170	24

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: 8.0%
• Equity multiple: 1.31×
• Total profit: $20,499
• Equity at exit: $35,039

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $93,466
• Equity at exit: $20,319

Cash invested: $65,800 (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: 6.0×

Monthly cashflow live

• Estimated rent: $3,256 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$324 /mo · $3,882/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $919

Break-even live

Break-even rent $2,093

Max offer price $235,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,052	-5% $985	+0% $919	+5% $852	+10% $786
Rent	-10% $661	-5% $790	+0% $919	+5% $1,047	+10% $1,176
Rate	-1.0pp $1,037	-0.5pp $978	base $919	+0.5pp $858	+1.0pp $796

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 Hampton Way Williamstown, NJ	4.0	2.0	2012	$2,750	$1.37	2d	1	0.28mi
62 Washington Ave Williamstown, NJ	3.0	1.5	1434	$2,600	$1.81	8d	1	0.33mi

Listing history 3 events

1. 2026-06-01
   days on market $235,000 Active 33 DOM
2. 2026-05-31
   days on market $235,000 Active 32 DOM
3. 2026-04-30
   listed $235,000 Active

ⓘ 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: $3,882 · $324/mo
• Projected year-2 tax: $4,867 · $406/mo
• Expected delta: +$985/yr (+$82/mo · 25.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $39,075
• − Mortgage interest: −$13,164
• − Property taxes: −$3,882
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,126
• − Management: −$3,126
• − Depreciation: −$6,836
• Taxable income: $7,766
• Est. tax owed @ 24.0%: −$1,864
• After-tax cash flow: $9,160/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 — Monroe

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Williamstown, 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

1 event — show timeline

• 2026-04-30 Listed $235,000 BRIGHT MLS

Property tax history

+1.4%/yr

Latest (2025): $3,882 · +2.9% YoY. Source: county tax records.