1530 N Tuckahoe Rd

Williamstown, NJ 08094

$140,000B-

2 bd · 1.0 ba · 584 sqft · Built 1967 · Manufactured · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,180/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$273
• HOA: −$0
• Vac / Maint / Mgmt: −$458
• Net cashflow: $715/mo
• Annual: $8,583/yr
• Cap rate: 12.42%
• Cash-on-cash: 21.90%
• DSCR: 1.97
• 1% rule: 1.56%
• Cash to close: $39,200

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 105 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#289 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• 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: Williamstown High School (math 21% / reading 50%, grade F, #234 of 399 statewide, top 59%, 1,782 students, 26% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: 270 active listings in the ZIP; solid renter incomes; 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• Gloucester County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 22y 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 $42k; list at $140k implies a 229% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 62% 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.
• Cap rate 12.4% vs local median 4.9% in Williamstown — 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.

Questions for listing agent

• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.