724 Spruce St · Camden, NJ 08103

$217,900

3 bd · 1.5 ba · 1,190 sqft · Townhouse public records · 23 Days on market

Built 1900 967 sqft lot Est $175k · 25% over

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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
• DSCR +4.5/10.0
• Appreciation +3.8/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

HUD case # 351-455183. Property sold AS-IS. Information from sources deemed reliable but not guaranteed. Buyer to verify all information. Streamline K eligible.

Key facts

• Fenced rear yard
• Built 1900
• Listed 23 days

Tags

• REMODELED BRICK TOWNHOME
• NEW LAMINATE FLOORING
• FENCED REAR YARD

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Block foundation; Double-pane windows; Unfinished basement
• Exterior features: Townhouse/rowhouse setting; No tidal water

Interior

• Kitchen: Microwave; Range hood; Refrigerator; Stove
• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Forced air heat; Natural gas heating; Central air conditioning (electric)
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $218k.

Deal economics

• At list price, monthly cash flow is $55 ($656/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 $174k (19.9% below list).
• Recommended offer: $174k (19.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#262 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A; Watch: crime F, employment F.
• Camden City School District (urban): math 3% / reading 16% proficiency, ranked #472 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Morgan Village Middle School (244 students, 77% FRL).
• Market conditions: 64 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $1,744/mo this rent would consume 57% of the median local household income ($37k/yr) (locally 1141% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.4%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k 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 23 days — a 2% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago 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 $100k; list at $218k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $174,449 (19.9% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.80% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.07%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $174,930
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 Spruce St	0.01mi	3/1.5	1,200 (+1%)	1mo	$185,000	$154	97
806 Princeton Ave	0.09mi	3/1.5	1,272 (+7%)	2mo	$226,000	$178	83
570 Line St	0.20mi	4/2.0 (+1)	1,213 (+2%)	1mo	$192,000	$158	80
636 Spruce St	0.06mi	2/1.0 (-1)	1,078 (-9%)	2mo	$67,500	$63	73
974 S 8th St	0.12mi	3/1.0	1,325 (+11%)	3mo	$90,000	$68	71
1454 Mount Ephraim Ave	0.62mi	3/1.5	1,200 (+1%)	2mo	$198,000	$165	68
602 West St	0.41mi	3/1.0	1,088 (-9%)	0mo	$160,000	$147	64
457 Mechanic St	0.48mi	3/2.0	1,102 (-7%)	2mo	$155,000	$141	62
1010 Kenwood Ave	0.50mi	3/1.0	1,088 (-9%)	1mo	$75,000	$69	60
305 Pine St	0.49mi	3/1.0	1,320 (+11%)	1mo	$86,458	$65	56
1229 Lansdown Ave	0.72mi	3/1.0	1,045 (-12%)	3mo	$77,500	$74	42
1513 Wildwood Ave	0.74mi	3/1.5	1,350 (+13%)	3mo	$219,900	$163	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.57×
• Total profit: $-26,005
• Equity at exit: $38,776

10-year hold

• IRR: -2.9%
• Equity multiple: 0.78×
• Total profit: $-13,338
• Equity at exit: $29,819

Cash invested: $61,012 (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 08103

• Home prices YoY: -1.4%
• Active inventory: 64
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$1,143
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $55

Break-even live

Break-even rent $1,675

Max offer price $217,900

Occupancy floor 92%

Sensitivity live

Price	-10% $178	-5% $116	+0% $55	+5% $-7	+10% $-69
Rent	-10% $-83	-5% $-14	+0% $55	+5% $124	+10% $192
Rate	-1.0pp $164	-0.5pp $110	base $55	+0.5pp $-2	+1.0pp $-59

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: $54,475
• Closing costs: $6,537
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
708 Royden St Camden, NJ	3.0	1.0	1113	$1,595	$1.43	19d	1	0.18mi
537 Newton Ave Camden, NJ	2.0	1.0	1092	$1,500	$1.37	20d	1	0.22mi
537 Newton Ave Camden, NJ	2.0	1.0	1092	$1,500	$1.37	14d	1	0.22mi
727 Berkley St Camden, NJ	2.0	1.5	1008	$1,660	$1.65	26d	1	0.28mi
609 Henry St Camden, NJ	3.0	1.0	1290	$1,600	$1.24	26d	1	0.40mi
457 Mechanic St Camden, NJ	3.0	2.0	1200	$1,950	$1.62	20d	1	0.47mi
440 Henry St Camden, NJ	3.0	1.5	1224	$2,200	$1.80	26d	1	0.48mi
1055 Kenwood Ave Camden, NJ	4.0	1.0	1088	$1,875	$1.72	26d	1	0.53mi
1502 S 9th St Camden, NJ	2.0	1.0	1050	$1,475	$1.40	21d	1	0.59mi
1509 Park Blvd Camden, NJ	1.0–2.0	1.0	1075	$1,650	$1.53	26d	1	0.69mi
1455 Wildwood Ave Camden, NJ	3.0	1.5	1353	$1,900	$1.40	12d	1	0.70mi
1364 Kaighn Ave Camden, NJ	2.0	1.0	912	$1,485	$1.63	4d	1	0.79mi
527 Penn St Unit 1A Camden, NJ	2.0	1.0	800	$1,500	$1.88	20d	1	0.92mi
1759 S 4th St Unit B Camden, NJ	2.0	1.0	800	$1,500	$1.88	26d	1	0.95mi
1 Market St Camden, NJ	3.0	1.0–2.0	1190	$2,456	$2.06	0d	14	1.06mi
331 Point St Camden, NJ	3.0	1.0	1000	$1,900	$1.90	20d	1	1.19mi

Listing history 15 events

1. 2026-06-21
   days on market $217,900 Active 23 DOM
2. 2026-06-18
   days on market $217,900 Active 20 DOM
3. 2026-06-17
   days on market $217,900 Active 19 DOM
4. 2026-06-16
   days on market $217,900 Active 18 DOM
5. 2026-06-15
   days on market $217,900 Active 17 DOM
6. 2026-06-13
   days on market $217,900 Active 15 DOM
7. 2026-06-13
   days on market $217,900 Active 14 DOM
8. 2026-06-09
   days on market $217,900 Active 11 DOM
9. 2026-06-08
   days on market $217,900 Active 10 DOM
10. 2026-06-07
    days on market $217,900 Active 9 DOM
11. 2026-06-04
    days on market $217,900 Active 6 DOM
12. 2026-06-03
    days on market $217,900 Active 5 DOM
13. 2026-06-02
    days on market $217,900 Active 4 DOM
14. 2026-06-01
    days on market $217,900 Active 3 DOM
15. 2026-05-31
    days on market $217,900 Active 2 DOM

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $3,253 · $271/mo
• Expected delta: +$2,173/yr (+$181/mo · 201.1%)

ⓘ 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,934
• − Mortgage interest: −$12,206
• − Property taxes: −$1,080
• − Insurance: −$1,090
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$6,339
• Taxable loss: −$3,130
• Est. tax savings @ 24.0%: +$751
• After-tax cash flow: $1,407/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: Camden City School District
• NCES district ID: 3402640
• Math proficiency: 3% ▼ -6.00%
• Reading proficiency: 16% ▬ 0.00%
• Median HH income: $25,845
• Composite: 6.85/100
• National rank: #9981
• State rank: #472 of 472 in NJ

Livability — Camden

• Score: 70/100
• State rank: #262
• US rank: #7721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Camden, NJ
• County: Camden County · 407,624 people
• City population: 20,865
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 12,573
• Household income: $36,793
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 1141.0

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 0.57)
• Race & ethnicity: Black 54% Hispanic / Latino 36% Two or more races 9% White 5% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 19% Dominican 4%
• Common ancestry: Hispanic 1%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 22% Tagalog/Filipino 2%

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: ▼ -2.36%
• Current HPI: 162.557
• 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

+1077.8% since first listed

13 events — show timeline

• 2026-05-29 Listed $217,900 BRIGHT MLS
• 2026-04-24 Listing Removed — BRIGHT MLS
• 2025-10-24 Relisted — BRIGHT MLS
• 2025-07-29 Pending — BRIGHT MLS
• 2025-07-09 Listed $219,900 BRIGHT MLS
• 2024-06-14 Sold (Public Records) $100,000 Public Records
• 2008-06-20 Sold (Public Records) $41,000 Public Records
• 2008-03-17 Sold (MLS) $41,000 BRIGHT MLS
• 2008-01-15 Listing Removed — BRIGHT MLS
• 2008-01-04 Listed $41,000 BRIGHT MLS
• 2004-01-13 Sold (MLS) $42,000 BRIGHT MLS
• 2003-11-22 Listed $42,000 BRIGHT MLS
• 1988-11-09 Sold (Public Records) $18,500 Public Records

Property tax history

-1.8%/yr

Latest (2025): $1,080 · +4.1% YoY. Source: county tax records.