736 Kevin Ct · Ramtown, NJ 08724

$259,000

2 bd · 2.0 ba · 1,200 sqft · Condo public records · 20 Days on market

Built 1983 $216/sqft · 21% below area Est $326k · 21% under $270/mo HOA · 11% of rent

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Why this score? — see what drove the D 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 +8.2/30.0
• 1% rule +4.2/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

2-bed, 1.5-bath townhome in the Evergreen Woods community. Great potential here. With a little TLC, it can be restored to its original charm. Features include an unfinished basement, ideal for storage or a possible future living space. Enjoy access to community amenities, including 3 swimming pools, a clubhouse, playgrounds, a basketball court, and tennis courts. Conveniently located near beaches, schools, shopping, and public transportation. HUD Home Sold AS IS. Information not guaranteed. Equal Housing Opportunity. Buyer pays all transfer fees. Buyer is responsible for utilities during the inspection period. FHA Case #351-566236. Property available to , Owner Occupants, Nonprofits, and Go

Key facts

• $270 HOA
• Built 1983
• Listed 20 days

Property features AI

Finance

• Other: Living area reported as 1200; Located in Ocean County
• HOA & community: Homeowners association with a monthly fee of $270

Exterior

• Parking: No garage
• Utilities: Public sewer
• Home design: Located in the Evergreen Woods subdivision; Brick minor area
• Exterior features: Shingle roof; Property is attached

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom and 1 half bathroom (1.5 total)
• Heating & cooling: Forced air heating; Electric central air conditioning
• Interior features: Unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (8.1% below list).
• Recommended offer: $216k (16.5% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 2.8% in Ramtown — 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 69/100 on livability (#280 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities F, commute F, cost of living F.
• Brick Township Public School District (suburban): math 18% / reading 43% proficiency, ranked #330 of 472 in NJ (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 293 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $8k 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 20 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $74k; list at $259k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% 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 $216,188 (16.5% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• GRM: 9.1

CMA / ARV

• ARV (median comp): $326,296
• List price: $259,000
• Delta: -20.62%
• 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: -22.9%
• Equity multiple: 0.21×
• Total profit: $-57,164
• Equity at exit: $38,618

10-year hold

• IRR: -17.1%
• Equity multiple: 0.05×
• Total profit: $-68,679
• Equity at exit: $22,394

Cash invested: $72,520 (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 08724

• Active inventory: 293
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,379 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$386 /mo · $4,628/yr
• Insurance: −$108
• HOA: −$270
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $-242

Break-even live

Break-even rent $2,686

Max offer price $216,188

Occupancy floor —

Sensitivity live

Price	-10% $-96	-5% $-169	+0% $-242	+5% $-316	+10% $-389
Rent	-10% $-430	-5% $-336	+0% $-242	+5% $-148	+10% $-54
Rate	-1.0pp $-112	-0.5pp $-176	base $-242	+0.5pp $-309	+1.0pp $-378

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Patmore Rd Brick, NJ	2.0	2.0	1280	$2,400	$1.88	20d	1	1.08mi
1126 Sawmill Rd #147 Brick, NJ	2.0	1.5	1088	$2,000	$1.84	18d	1	1.27mi
1128 Sawmill Rd #148 Brick, NJ	2.0	2.5	1088	$2,500	$2.30	4d	1	1.27mi
1144 Sawmill Rd #121 Brick, NJ	2.0	1.5	1088	$2,500	$2.30	14d	1	1.29mi
36 Creek Rd Brick Township, NJ	2.0	1.5	1088	$2,500	$2.30	26d	1	1.33mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-15
   status Active 780-char remark
2. 2026-05-05
   listed $259,000 Active 780-char remark
3. 1994-04-04
   soldstatus $73,990

ⓘ 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: $4,628 · $386/mo
• Projected year-2 tax: $5,539 · $462/mo
• Expected delta: +$910/yr (+$76/mo · 19.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,549
• − Mortgage interest: −$14,508
• − Property taxes: −$4,628
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,284
• − Management: −$2,284
• − HOA: −$3,240
• − Depreciation: −$7,535
• Taxable loss: −$7,225
• Est. tax savings @ 24.0%: +$1,734
• After-tax cash flow: $-1,174/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: Brick Township Public School District
• NCES district ID: 3402220
• Math proficiency: 18% ▼ -24.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $68,717
• Composite: 28.31/100
• National rank: #6785
• State rank: #330 of 472 in NJ

Livability — Ramtown

• Score: 69/100
• State rank: #280
• US rank: #8309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 41,573

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 7% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% Chinese 1%

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: ▼ -524.30%
• Current HPI: 380.6136
• 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

+250.0% since first listed

4 events — show timeline

• 2026-05-26 Pending — MOMLS
• 2026-05-15 Relisted — MOMLS
• 2026-05-05 Listed $259,000 MOMLS
• 1994-04-04 Sold (Public Records) $73,990 Public Records

Property tax history

+3.2%/yr

Latest (2025): $4,628 · +5.2% YoY. Source: county tax records.