40 Hancock Ln · Burlington, NJ 08046

$347,500

3 bd · 2.0 ba · 1,627 sqft · SingleFamily public records · 57 Days on market

Built 1963 6,534 sqft lot Est $376k · 8% under

---

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).

• Cash flow +15.3/30.0
• ARV discount +10.9/15.0
• DSCR +4.7/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This single‑family home offers 3 bedrooms and 2 fully upgraded bathrooms, featuring a flexible layout and modern improvements throughout. The main bedroom is located upstairs and includes a ceiling fan, the original closet, plus a newly added large walk‑in closet for exceptional storage. A second bedroom is also upstairs, along with a beautifully upgraded 3‑piece bathroom. Downstairs, you’ll find an additional extra‑large bedroom with a ceiling fan and upgraded bathroom, ideal for guests, multigenerational living, or a private suite. The living room features a large ceiling fan and provides a comfortable space for everyday living. The kitchen is equipped with stainless steel appliance

Key facts

• 6,534 sq ft lot
• 2 parking spots
• Built 1963

Property features AI

Exterior

• Parking: Driveway parking for two vehicles; Two total garage/parking spaces
• Utilities: Public water; Public sewer; Cable internet available
• Home design: Detached home; Single-level entry; Year built (estimated)
• Construction: Frame construction; Slab foundation
• Exterior features: Partially fenced yard; Shed on the property; Not in a federal flood zone

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator
• Bedrooms: One main-level bedroom; Two bedrooms on the first upper level
• Flooring: Carpet
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Hot water heating (natural gas); Central air conditioning (electric)
• Interior features: Attic; Ceiling fans; Family room off the kitchen; Eat-in kitchen
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $348k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/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 $327k (5.8% below list).
• Recommended offer: $327k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.9% in Burlington — 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 78/100 on livability (#89 in NJ, #2,359 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F.
• Willingboro Public School District (suburban): math 5% / reading 30% proficiency, ranked #433 of 472 in NJ (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hawthorne Park Elementary School (math 8% / reading 27%, grade F, #1,065 of 1,303 statewide, top 83%, 392 students, 10% FRL); Willingboro Memorial Middle School (math 5% / reading 34%, grade F, #398 of 431 statewide, top 93%, 600 students, 8% FRL); Willingboro High School (math 2% / reading 37%, grade F, #354 of 399 statewide, top 89%, 842 students, 0% FRL) — zoned schools average 6% FRL vs 48% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 155 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• This rent runs 40% of the median local income ($98k/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 $10k of value loss. Plan a longer hold.
• Burlington 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 57 days — a 3% lower offer ($337k) 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 $138k; list at $348k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $327,496 (5.8% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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?
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: 0.94% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $375,837
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Henderson Ln	0.23mi	3/2.0	1,696 (+4%)	2mo	$280,000	$165	81
20 Huntington Ln	0.23mi	4/2.0 (+1)	1,562 (-4%)	0mo	$335,000	$214	78
10 Hancock Ln	0.11mi	3/2.5	1,799 (+11%)	1mo	$415,000	$231	74
111 Hazelwood Cir	0.51mi	3/2.0	1,570 (-4%)	2mo	$370,000	$236	68
534 Charleston Rd	0.41mi	3/2.0	1,444 (-11%)	2mo	$407,000	$282	60
33 Belmont Ln	0.36mi	4/2.5 (+1)	1,797 (+10%)	2mo	$335,000	$186	57
55 Babcock Ln	0.35mi	4/2.5 (+1)	1,797 (+10%)	3mo	$440,000	$245	57
47 Holstone Ln	0.47mi	3/2.0	1,843 (+13%)	1mo	$350,000	$190	55
283 Northampton Dr	0.67mi	4/2.0 (+1)	1,500 (-8%)	0mo	$380,000	$253	51
71 Harrington Cir	0.60mi	3/2.0	1,843 (+13%)	2mo	$375,000	$203	48
12 Neptune Ln	0.72mi	4/2.0 (+1)	1,497 (-8%)	2mo	$325,000	$217	46
42 Bucknell Ln	0.75mi	3/2.0	1,384 (-15%)	2mo	$365,000	$264	39

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: -13.8%
• Equity multiple: 0.50×
• Total profit: $-48,198
• Equity at exit: $51,813

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-31,287
• Equity at exit: $30,045

Cash invested: $97,300 (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 08046

• Active inventory: 155
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,275 high
• Mortgage (P&I): −$1,822
• Tax from tax record: −$494 /mo · $5,929/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $126

Break-even live

Break-even rent $3,115

Max offer price $347,500

Occupancy floor 91%

Sensitivity live

Price	-10% $323	-5% $224	+0% $126	+5% $28	+10% $-71
Rent	-10% $-133	-5% $-3	+0% $126	+5% $255	+10% $385
Rate	-1.0pp $301	-0.5pp $214	base $126	+0.5pp $36	+1.0pp $-56

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: $86,875
• Closing costs: $10,425
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Hopkins Ln Willingboro, NJ	3.0	2.0	1696	$3,200	$1.89	0d	1	0.11mi
89 Hampshire Ln Willingboro, NJ	4.0	2.0	1562	$3,400	$2.18	12d	1	0.20mi
29 Hinsdale Ln Willingboro, NJ	4.0	2.0	1570	$3,750	$2.39	0d	1	0.26mi
17 Bonnie Ln Willingboro, NJ	4.0	2.5	1797	$2,890	$1.61	26d	1	0.84mi
17 Snowdon Ln Willingboro, NJ	3.0	2.0	1200	$2,700	$2.25	0d	1	0.92mi
10 Melville Ln Willingboro, NJ	4.0	2.5	1797	$3,000	$1.67	16d	1	0.92mi
1000 Ivorie Ct Burlington, NJ	1.0–2.0	1.0	1025	$2,075	$2.02	26d	1	0.96mi
16 Elridge Ln Willingboro, NJ	3.0	2.0	1350	$2,650	$1.96	0d	1	1.05mi
48 Sandstone Ln Willingboro, NJ	4.0	2.0	1372	$2,700	$1.97	0d	1	1.06mi
6 Sherwood Ln Willingboro, NJ	4.0	2.0	1372	$3,200	$2.33	0d	1	1.08mi
89 Oakcrest Ln Westampton, NJ	2.0	1.5	1358	$2,500	$1.84	0d	1	1.13mi
1 Mystic Way Willingboro, NJ	4.0	2.5	1952	$2,950	$1.51	0d	1	1.13mi
106 Whaler Way Burlington, NJ	1.0–3.0	1.0	932	$2,585	$2.77	0d	1	1.33mi
48 Marboro Ln Willingboro, NJ	4.0	2.0	1497	$3,995	$2.67	4d	1	1.42mi
61 Pennant Ln Willingboro, NJ	3.0	2.0	1384	$2,800	$2.02	3d	1	1.44mi

Listing history 8 events

1. 2026-05-05
   status Pending
2. 2026-04-26
   price $347,500
3. 2026-04-16
   status Active
4. 2026-04-07
   status Pending
5. 2026-03-03
   price $350,000
6. 2026-03-01
   listed $345,000 Active
7. 2026-02-11
   historical $345,000
8. 2021-07-16
   soldstatus $138,500

ⓘ 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: $5,929 · $494/mo
• Projected year-2 tax: $7,291 · $608/mo
• Expected delta: +$1,362/yr (+$113/mo · 23.0%)

ⓘ 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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,300
• − Mortgage interest: −$19,465
• − Property taxes: −$5,929
• − Insurance: −$1,738
• − Repairs & maintenance: −$3,144
• − Management: −$3,144
• − Depreciation: −$10,109
• Taxable loss: −$4,230
• Est. tax savings @ 24.0%: +$1,015
• After-tax cash flow: $2,527/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: Willingboro Public School District
• NCES district ID: 3418000
• Math proficiency: 5% ▼ -11.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $67,064
• Composite: 17.37/100
• National rank: #9074
• State rank: #433 of 472 in NJ

Livability — Burlington

• Score: 78/100
• State rank: #89
• US rank: #2359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Burlington County · 323,710 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 31,981
• Household income: $98,178
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 342.0

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% Hispanic / Latino 15% Two or more races 14% White 10%
• Hispanic origin (detail): Puerto Rican 9% Dominican 2%
• Common ancestry: Swiss 4% Romanian 2% Hispanic 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 10% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -273.52%
• Current HPI: 348.3441
• 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

+150.9% since first listed

8 events — show timeline

• 2026-05-05 Pending — BRIGHT MLS
• 2026-04-26 Price Changed $347,500 BRIGHT MLS
• 2026-04-16 Relisted — BRIGHT MLS
• 2026-04-07 Pending — BRIGHT MLS
• 2026-03-03 Price Changed $350,000 BRIGHT MLS
• 2026-03-01 Listed $345,000 BRIGHT MLS
• 2026-02-11 Coming Soon $345,000 BRIGHT MLS
• 2021-07-16 Sold (Public Records) $138,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $5,929 · +2.0% YoY. Source: county tax records.