6 Rhode Island Ave · Ellisburg, NJ 08002

$215,000

3 bd · 1.0 ba · 1,041 sqft · SingleFamily public records · 4 Days on market

Built 1942 7,000 sqft lot Est $342k · 37% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +7.8/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property is being sold in strictly "AS IS" condition. It is buyers responsibility to obtain all necessary certifications to occupy the property. Closing requires third party approval and settlement will take 3-4 months to settle.

Key facts

• 7,000 sq ft lot
• Parking
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).

Location & tenants

• Location reads 81/100 on livability (#60 in NJ, #1,517 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A, crime A-; Watch: cost of living D-.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.9%/yr); 101 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• This rent runs 33% of the median local income ($101k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,000

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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: 1.28% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $342,489
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Rhode Island Ave	0.04mi	3/2.0	1,114 (+7%)	1mo	$416,200	$374	81
75 Nevada Ave	0.33mi	3/1.0	1,083 (+4%)	2mo	$405,000	$374	76
17 Rhode Island Ave	0.05mi	3/1.0	945 (-9%)	10mo	$285,000	$302	73
3 Rhode Island Ave	0.03mi	3/1.0	921 (-12%)	10mo	$325,000	$353	71
17 Massachusetts Ave	0.06mi	3/1.0	1,089 (+5%)	23mo	$325,000	$298	71
16 Churchill Rd	0.58mi	2/2.0 (-1)	1,006 (-3%)	6mo	$240,000	$239	54
150 Edison Ave	0.44mi	4/2.0 (+1)	1,109 (+6%)	12mo	$436,000	$393	50
10 Gere Ter	0.62mi	3/1.0	960 (-8%)	12mo	$360,000	$375	48
26 Rose Ln	0.64mi	3/2.0	1,136 (+9%)	8mo	$305,000	$268	44
99 Edison Rd	0.74mi	3/1.0	1,110 (+7%)	16mo	$350,000	$315	41
15 Rose Ln	0.62mi	3/1.0	946 (-9%)	21mo	$311,000	$329	38
43 Churchill Rd	0.65mi	3/2.0	1,190 (+14%)	10mo	$336,675	$283	33

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-6,406
• Equity at exit: $32,057

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $30,781
• Equity at exit: $18,589

Cash invested: $60,200 (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 08002

• Rents YoY: 2.9%
• Active inventory: 101
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,751 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$508 /mo · $6,102/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $448

Break-even live

Break-even rent $2,184

Max offer price $215,000

Occupancy floor 79%

Sensitivity live

Price	-10% $570	-5% $509	+0% $448	+5% $387	+10% $326
Rent	-10% $230	-5% $339	+0% $448	+5% $556	+10% $665
Rate	-1.0pp $556	-0.5pp $502	base $448	+0.5pp $392	+1.0pp $335

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Cooper Landing Rd Cherry Hill, NJ	2.0	2.0	1030	$1,900	$1.84	44d	1	0.56mi
401 Cooper Landing Rd Cherry Hill, NJ	2.0	2.0	1030	$2,000	$1.94	19d	1	0.56mi
116 Cherry Parke Cherry Hill, NJ	2.0	1.0	944	$1,850	$1.96	16d	1	0.72mi
116 Cherry Parke Unit C Cherry Hill, NJ	2.0	1.0	950	$1,950	$2.05	44d	1	0.72mi
3005 Chapel Ave W Cherry Hill, NJ	3.0	1.0–2.0	1015	$2,774	$2.73	2d	55	0.91mi
3 Lee Ave Haddonfield, NJ	4.0	2.0	1400	$3,700	$2.64	2d	1	1.03mi
1200 Marlton Pike E Cherry Hill, NJ	2.0	2.0	857	$2,100	$2.45	45d	1	1.13mi
1980 Route 70 W Cherry Hill, NJ	1.0–3.0	1.0–2.0	1043	$3,135	$3.01	2d	8	1.15mi
715 Cooper Landing Rd Cherry Hill, NJ	3.0	2.0	1334	$3,100	$2.32	44d	1	1.18mi
1305 Churchill Downs Way Cherry Hill Township, NJ	2.0	2.0	1293	$5,077	$3.93	2d	1	1.27mi
1 Park Lane Blvd Cherry Hill, NJ	1.0–2.0	1.0–2.0	1197	$4,712	$3.94	2d	26	1.27mi
4536 Champions Run #4536 Cherry Hill, NJ	2.0	2.0	1212	$3,000	$2.48	44d	1	1.32mi
4543 Champions Run Cherry Hill Township, NJ	2.0	2.0	1196	$2,450	$2.05	23d	1	1.32mi
274 Kings Hwy E Haddonfield, NJ	2.0	1.0	869	$2,800	$3.22	23d	1	1.35mi
4322 Champions Run Cherry Hill, NJ	2.0	2.0	1212	$2,850	$2.35	44d	1	1.36mi
700 Citation Ln Cherry Hill, NJ	1.0–2.0	1.0–2.0	1513	$3,500	$2.31	2d	84	1.36mi
1 Evans Mill Ln Cherry Hill Township, NJ	2.0	2.0	1373	$3,425	$2.49	2d	1	1.44mi
Breeders Cup Dr Cherry Hill, NJ	2.0	2.0	1196	$2,650	$2.22	44d	1	1.44mi
223 Breeders Cup Dr Cherry Hill, NJ	3.0	2.0	1460	$3,400	$2.33	44d	1	1.44mi
801 Cooper Landing Rd Cherry Hill, NJ	1.0–2.0	1.0–2.0	830	$2,087	$2.51	2d	10	1.45mi
38 N Haddon Ave Unit A Haddonfield, NJ	2.0	1.5	1500	$3,100	$2.07	6d	1	1.49mi
2022 Crescent Way Cherry Hill, NJ	2.0	2.0	1358	$3,100	$2.28	44d	1	1.49mi

Listing history 3 events

1. 2026-03-05
   status Pending
2. 2026-03-02
   listed $215,000 Active
3. 2026-02-26
   historical $215,000

ⓘ 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: $6,102 · $508/mo
• Projected year-2 tax: $6,102 · $508/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,013
• − Mortgage interest: −$12,043
• − Property taxes: −$6,102
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,641
• − Management: −$2,641
• − Depreciation: −$6,255
• Taxable income: $2,256
• Est. tax owed @ 24.0%: −$541
• After-tax cash flow: $4,832/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: Cherry Hill School District
• NCES district ID: 3403000
• Math proficiency: 27% ▼ -26.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $90,394
• Composite: 40.71/100
• National rank: #3665
• State rank: #181 of 472 in NJ

Livability — Ellisburg

• Score: 81/100
• State rank: #60
• US rank: #1517

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellisburg, NJ
• County: Camden County · 407,624 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 24,015
• Household income: $100,951
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 430.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 12% Asian 12% Black 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 8% Scotch-Irish 2% Italian 2%
• Foreign-born: 18% · Vietnam, Canada, China
• Languages at home: 73% English-only · Spanish 8% Russian/Polish/Slavic 4% Vietnamese 4%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.30%
• Current HPI: 358.1597
• Rent YoY: ▲ 2.90%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-03-05 Pending — BRIGHT MLS
• 2026-03-02 Listed $215,000 BRIGHT MLS
• 2026-02-26 Coming Soon $215,000 BRIGHT MLS

Property tax history

+2.2%/yr

Latest (2025): $6,102 · +5.4% YoY. Source: county tax records.