2409 Fries Mill Rd · Glassboro, NJ 08094

$375,000

3 bd · 1.5 ba · 1,544 sqft · SingleFamily public records · 81 Days on market

Built 1972 1.00 ac lot Est $594k · 37% 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 +15.0/15.0
• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is Knocking with this great 4 bedrm, 1.5 bath split level home in great condition. Located on an acre lot, across from Scotland Run Golf Course (16th hole). House sits 150' off road. Featuring remodelled kitchen with pergo flooring an half bath, living rm with vaulted ceiling, master bedrm on lower level-could also be a family room. Large garage approx. 3 yrs. old with partially finished loft area, which could be finished to workout area or office, etc. Also includes wrap around deck, serene setting. Home Warranty included. This home is a pleasure to show. Commerical possibilities available.

Key facts

• Owned solar panels
• Gracious sized area
• Oversized garage

Tags

• WOOD BURNING STOVE
• GRACIOUS SIZED AREA
• OVERSIZED GARAGE
• OWNED SOLAR PANELS

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Detached garage with 3 garage spaces; Driveway parking; Oversized garage with additional storage area
• Utilities: Public water; On-site septic; Natural gas heating fuel; Electric cooling fuel; Hot water: other
• Home design: Detached property; Frame construction
• Construction: Frame construction; Other foundation
• Exterior features: Above-grade and below-grade structures noted

Interior

• Kitchen: Kitchen
• Bedrooms: 3 bedrooms on the upper level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living room; Family room; Attic; No basement
• Laundry & utility: Laundry on lower floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $349k (6.8% below list).
• Recommended offer: $349k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.5% in Glassboro — 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 81/100 on livability (#57 in NJ, #1,498 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: cost of living D-.
• 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.
• Zoned schools: Holly Glen Elementary School (math 22% / reading 37%, grade F, #731 of 1,303 statewide, top 59%, 505 students, 43% FRL); Williamstown Middle School (math 18% / reading 43%, grade F, #303 of 431 statewide, top 72%, 1,819 students, 30% FRL); Williamstown High School (math 21% / reading 50%, grade F, #234 of 399 statewide, top 59%, 1,782 students, 26% FRL).
• Market conditions: 270 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 43% 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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $245k; list at $375k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $349,443 (6.8% below list)

Questions for the listing agent

1. It's been on market 81 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 1972 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $594,440
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Spyglass Hill Dr	0.34mi	3/2.0	1,520 (-2%)	22mo	$585,000	$385	61

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-53,919
• Equity at exit: $55,914

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-37,882
• Equity at exit: $32,423

Cash invested: $105,000 (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 08094

• Active inventory: 270
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,494 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$532 /mo · $6,381/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$734
• Net cashflow: $106

Break-even live

Break-even rent $3,360

Max offer price $375,000

Occupancy floor 92%

Sensitivity live

Price	-10% $318	-5% $212	+0% $106	+5% $0	+10% $-106
Rent	-10% $-170	-5% $-32	+0% $106	+5% $244	+10% $382
Rate	-1.0pp $295	-0.5pp $201	base $106	+0.5pp $9	+1.0pp $-90

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
62 Spyglass Hill Dr Williamstown, NJ	3.0	2.5	1980	$3,400	$1.72	0d	1	0.33mi
1286 Glassboro Rd Williamstown, NJ	4.0	1.0	1890	$2,600	$1.38	18d	1	0.77mi

Listing history 20 events

1. 2026-06-13
   statusdays on market $375,000 Pending 81 DOM
2. 2026-06-09
   days on market $375,000 Active 80 DOM
3. 2026-06-08
   days on market $375,000 Active 79 DOM
4. 2026-06-07
   days on market $375,000 Active 78 DOM
5. 2026-06-04
   days on market $375,000 Active 75 DOM
6. 2026-06-03
   days on market $375,000 Active 74 DOM
7. 2026-06-02
   days on market $375,000 Active 73 DOM
8. 2026-06-01
   days on market $375,000 Active 72 DOM
9. 2026-05-31
   days on market $375,000 Active 71 DOM
10. 2026-05-14
    price $375,000
11. 2026-03-21
    listed $400,000 Active
12. 2006-08-11
    soldstatus $245,000
13. 2006-07-31
    soldstatus $245,000 610-char remark

    Show marketing remark (610 chars)

    Opportunity is Knocking with this great 4 bedrm, 1.5 bath split level home in great condition. Located on an acre lot, across from Scotland Run Golf Course (16th hole). House sits 150' off road. Featuring remodelled kitchen with pergo flooring an half bath, living rm with vaulted ceiling, master bedrm on lower level-could also be a family room. Large garage approx. 3 yrs. old with partially finished loft area, which could be finished to workout area or office, etc. Also includes wrap around deck, serene setting. Home Warranty included. This home is a pleasure to show. Commerical possibilities available.

14. 2006-07-05
    historical 610-char remark

    Show marketing remark (610 chars)

    Opportunity is Knocking with this great 4 bedrm, 1.5 bath split level home in great condition. Located on an acre lot, across from Scotland Run Golf Course (16th hole). House sits 150' off road. Featuring remodelled kitchen with pergo flooring an half bath, living rm with vaulted ceiling, master bedrm on lower level-could also be a family room. Large garage approx. 3 yrs. old with partially finished loft area, which could be finished to workout area or office, etc. Also includes wrap around deck, serene setting. Home Warranty included. This home is a pleasure to show. Commerical possibilities available.

15. 2006-06-05
    listed $245,000 610-char remark

    Show marketing remark (610 chars)

    Opportunity is Knocking with this great 4 bedrm, 1.5 bath split level home in great condition. Located on an acre lot, across from Scotland Run Golf Course (16th hole). House sits 150' off road. Featuring remodelled kitchen with pergo flooring an half bath, living rm with vaulted ceiling, master bedrm on lower level-could also be a family room. Large garage approx. 3 yrs. old with partially finished loft area, which could be finished to workout area or office, etc. Also includes wrap around deck, serene setting. Home Warranty included. This home is a pleasure to show. Commerical possibilities available.

16. 2005-06-14
    soldstatus $228,000
17. 2005-06-03
    soldstatus $228,000 908-char remark

    Show marketing remark (908 chars)

    Well maintained 3 br 1-1/2 ba split. Cathedral ceil lr w/ wood stove red brick surround. Newer windows, new pergo kitchen floor, custom vertical window treatments in large rec room-new berber carpet, wood stain trim powder room w ceramic tiling. Neutral throughout. Combination laundry room/pantry--opens to side deck/yard. Deep, lighted back yard with lighted horseshoe pits/nicely landscaped-wrap around deck/ massive 26x32 garage w/ electric/side double door entry for lawnmower, etc/one overhead door but can store up to 3 cars-workshop area also full 2nd story upper level floored, stand-up storage space--(built approx 2 years ago)across from Scotland Run course! (16th hole)!!sits back 150 foot from Fries Mill Road. Close to nearby shopping. Freshly painted exterior. Make your appointment today. ALL ON ONE ACRE!!!!! possible commercial for your business??!!IMMEDIATE OCUPANCY, MAKE YOUR OFFER!!!!

18. 2005-04-05
    historical 908-char remark

    Show marketing remark (908 chars)

    Well maintained 3 br 1-1/2 ba split. Cathedral ceil lr w/ wood stove red brick surround. Newer windows, new pergo kitchen floor, custom vertical window treatments in large rec room-new berber carpet, wood stain trim powder room w ceramic tiling. Neutral throughout. Combination laundry room/pantry--opens to side deck/yard. Deep, lighted back yard with lighted horseshoe pits/nicely landscaped-wrap around deck/ massive 26x32 garage w/ electric/side double door entry for lawnmower, etc/one overhead door but can store up to 3 cars-workshop area also full 2nd story upper level floored, stand-up storage space--(built approx 2 years ago)across from Scotland Run course! (16th hole)!!sits back 150 foot from Fries Mill Road. Close to nearby shopping. Freshly painted exterior. Make your appointment today. ALL ON ONE ACRE!!!!! possible commercial for your business??!!IMMEDIATE OCUPANCY, MAKE YOUR OFFER!!!!

19. 2004-09-29
    listed $228,000 908-char remark

    Show marketing remark (908 chars)

    Well maintained 3 br 1-1/2 ba split. Cathedral ceil lr w/ wood stove red brick surround. Newer windows, new pergo kitchen floor, custom vertical window treatments in large rec room-new berber carpet, wood stain trim powder room w ceramic tiling. Neutral throughout. Combination laundry room/pantry--opens to side deck/yard. Deep, lighted back yard with lighted horseshoe pits/nicely landscaped-wrap around deck/ massive 26x32 garage w/ electric/side double door entry for lawnmower, etc/one overhead door but can store up to 3 cars-workshop area also full 2nd story upper level floored, stand-up storage space--(built approx 2 years ago)across from Scotland Run course! (16th hole)!!sits back 150 foot from Fries Mill Road. Close to nearby shopping. Freshly painted exterior. Make your appointment today. ALL ON ONE ACRE!!!!! possible commercial for your business??!!IMMEDIATE OCUPANCY, MAKE YOUR OFFER!!!!

20. 1992-07-02
    soldstatus $93,000

ⓘ 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: $6,381 · $532/mo
• Projected year-2 tax: $7,859 · $655/mo
• Expected delta: +$1,478/yr (+$123/mo · 23.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,933
• − Mortgage interest: −$21,006
• − Property taxes: −$6,381
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,355
• − Management: −$3,355
• − Depreciation: −$10,909
• Taxable loss: −$4,947
• Est. tax savings @ 24.0%: +$1,187
• After-tax cash flow: $2,460/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 — Glassboro

• Score: 81/100
• State rank: #57
• US rank: #1498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Gloucester County · 160,422 people
• City population: 25,098
• 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

+303.2% since first listed

11 events — show timeline

• 2026-05-14 Price Changed $375,000 BRIGHT MLS
• 2026-03-21 Listed $400,000 BRIGHT MLS
• 2006-08-11 Sold (Public Records) $245,000 Public Records
• 2006-07-31 Sold (MLS) $245,000 BRIGHT MLS
• 2006-07-05 Listing Removed — BRIGHT MLS
• 2006-06-05 Listed $245,000 BRIGHT MLS
• 2005-06-14 Sold (Public Records) $228,000 Public Records
• 2005-06-03 Sold (MLS) $228,000 BRIGHT MLS
• 2005-04-05 Listing Removed — BRIGHT MLS
• 2004-09-29 Listed $228,000 BRIGHT MLS
• 1992-07-02 Sold (Public Records) $93,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $6,381 · +2.9% YoY. Source: county tax records.