221 White Horse Pike · Atco, NJ 08089

$149,900

1 bd · None ba · 2,304 sqft · MultiFamily · 156 Days on market

Built 1910 0.34 ac lot ↓ 39% since listing

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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).

• Cash flow +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.7/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Unique investment opportunity!!! Bar with kitchen on the first floor, waiting to be brought back to life! Prime location right on the pike! 2BD/1BTH apartment on the second floor. Strictly as-is sale, buyer is responsible for the CO. Seller obtained property via tax lien foreclosure. Seller makes no guarantees or warranties as to the condition or accuracy of the information provided. Seller has never seen nor been to property. Seller open to seller-financing. Seller prefers to use NBSS Title to complete the transaction - will provide fully marked up title with no exceptions in regards to the foreclosure. Schedule your private tour today!

Key facts

• Bar with kitchen
• Prime location
• 0.34 acre lot

Tags

• INVESTMENT OPPORTUNITY
• BAR WITH KITCHEN
• PRIME LOCATION

Property features AI

Finance

• Financial info: Fee simple ownership

Exterior

• Parking: Parking lot
• Utilities: Water from well; Public sewer
• Home design: Detached structure; Above-grade living space approximately 2,304 (estimated)
• Construction: Brick and vinyl siding exterior; Permanent foundation
• Exterior features: Lot approximately 100 x 150; No tidal water

Interior

• Bedrooms: One 1-bedroom unit; One single-room unit; Two vacant units
• Heating & cooling: Forced air heating (Natural Gas); Central air conditioning (Natural Gas); Natural gas hot water
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $39 ($474/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 $136k (9.2% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.0% in Atco — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Waterford Township School District (suburban): math 22% / reading 35% proficiency, ranked #334 of 472 in NJ (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• It's been on market 156 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $100k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
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 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: 0.91% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-21,756
• Equity at exit: $22,351

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-15,625
• Equity at exit: $12,961

Cash invested: $41,972 (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 08089

• Home prices YoY: -2.4%
• Active inventory: 14
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $39

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 92%

Sensitivity live

Price	-10% $143	-5% $91	+0% $39	+5% $-12	+10% $-64
Rent	-10% $-68	-5% $-14	+0% $39	+5% $93	+10% $147
Rate	-1.0pp $115	-0.5pp $78	base $39	+0.5pp $1	+1.0pp $-39

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-13
   status Pending
2. 2026-04-09
   price $149,900
3. 2026-04-07
   price $139,900
4. 2026-02-12
   price $175,000
5. 2026-02-05
   status Active
6. 2026-01-09
   status Pending
7. 2025-12-18
   price $199,900
8. 2025-12-11
   price $225,000
9. 2025-11-11
   listed $250,000 Active
10. 2023-05-09
    soldstatus $499,900
11. 2016-09-29
    soldstatus $245,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $16,335
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − Depreciation: −$4,361
• Taxable loss: −$2,034
• Est. tax savings @ 24.0%: +$488
• After-tax cash flow: $962/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: Waterford Township School District
• NCES district ID: 3417250
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $77,964
• Composite: 27.58/100
• National rank: #6939
• State rank: #334 of 472 in NJ

Livability — Atco

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

Census & demographics

• Census place: Atco, NJ
• City population: 10,946
• Population (ZIP): 4,195

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 15% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 6% Portuguese 1% Scotch-Irish 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 6%

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: ▼ -8.54%
• Current HPI: 346.6537
• 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

-38.8% since first listed

11 events — show timeline

• 2026-05-13 Pending — BRIGHT MLS
• 2026-04-09 Price Changed $149,900 BRIGHT MLS
• 2026-04-07 Price Changed $139,900 BRIGHT MLS
• 2026-02-12 Price Changed $175,000 BRIGHT MLS
• 2026-02-05 Relisted — BRIGHT MLS
• 2026-01-09 Pending — BRIGHT MLS
• 2025-12-18 Price Changed $199,900 BRIGHT MLS
• 2025-12-11 Price Changed $225,000 BRIGHT MLS
• 2025-11-11 Listed $250,000 BRIGHT MLS
• 2023-05-09 Sold (Public Records) $499,900 Public Records
• 2016-09-29 Sold (Public Records) $245,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $12,978 · +3.5% YoY. Source: county tax records.