220 Fulton St · Millville, NJ 08332

$164,900

3 bd · 2.0 ba · 1,356 sqft · SingleFamily public records · 36 Days on market

Built 1898 9,900 sqft lot Est $267k · 38% 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).

• Cash flow +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 220 Fulton Street in Millville, NJ. The property is currently being used an an investment property with a long term tenant paying $1,650 a month towards rent. Tenant is responsible for gas and electric. The property is rented below market and presents a value add opportunity. The property consist of three full bedroom and two full bathrooms. The property is on an oversized lot and has a large yard. 220 Fulton Street is a half - double sharing a common wall with 222 Fulton Street. Current owner would prefer to sell 220 Fulton Street in conjunction with 222 Futon Street (Listed separately under MLS # NJCB2029952 ). These properties are separately deeded. Consider potentially purch

Key facts

• Long term tenant
• Half double
• Investment property

Tags

• INVESTMENT PROPERTY
• LONG TERM TENANT
• RENTED BELOW MARKET VALUE
• OVERSIZED LOT
• LARGE YARD
• HALF DOUBLE

Property features AI

Finance

• Other: Ownership is fee simple; Lease not considered

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage/parking spaces
• Utilities: Public water; Public septic; Natural gas hot water; Electric cooling
• Home design: Semi-detached (duplex-style) dwelling; Frame construction
• Construction: Frame construction with stone foundation; Architectural shingle roof; Above-grade and below-grade structures noted; Year built recorded by assessor
• Exterior features: Lot roughly 75 x 132; Not in a federal flood zone; Municipal trash service

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Baseboard hot water heating; Natural gas heating; Central air conditioning (electric)
• Interior features: Unfinished basement; Living area information from assessor

🏷️ Possibly a rental listed for sale. The $164,900 price doesn't fit this home's estimated sale value (~$267,132) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.2% in Millville — 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 63/100 on livability (#431 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: schools F, crime F, amenities F.
• Millville School District (suburban): math 6% / reading 28% proficiency, ranked #447 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 296 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% 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 $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — 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. 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?
5. 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?
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: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $267,132
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Howard St	0.05mi	3/2.5	1,420 (+5%)	8mo	$260,000	$183	81
318 W Race St	0.10mi	3/2.0	1,232 (-9%)	8mo	$265,000	$215	74
333 Cedar St	0.14mi	3/2.5	1,487 (+10%)	4mo	$360,000	$242	72
525 W Main St	0.33mi	3/1.0	1,397 (+3%)	6mo	$275,000	$197	71
6 Fairfield Ave	0.63mi	3/2.0	1,335 (-2%)	4mo	$315,000	$236	65
17 Hillside Ave	0.55mi	4/1.5 (+1)	1,380 (+2%)	8mo	$300,000	$217	58
10 N Park Ave	0.16mi	2/1.5 (-1)	1,172 (-14%)	8mo	$199,900	$171	57
309 S 2nd St	0.62mi	3/1.0	1,406 (+4%)	8mo	$190,000	$135	55
16 N 5th St N	0.72mi	3/1.0	1,312 (-3%)	5mo	$125,000	$95	53
216 S 3rd St	0.60mi	4/1.0 (+1)	1,437 (+6%)	8mo	$140,000	$97	46
712 Cherry St	0.63mi	2/2.0 (-1)	1,200 (-12%)	2mo	$245,000	$204	45
502 E Main St	0.74mi	2/1.0 (-1)	1,160 (-14%)	2mo	$129,000	$111	31

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-12,490
• Equity at exit: $24,587

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $2,431
• Equity at exit: $14,258

Cash invested: $46,172 (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 08332

• Home prices YoY: -28.9%
• Rents YoY: 1.9%
• Active inventory: 296
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,772 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$214 /mo · $2,572/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $252

Break-even live

Break-even rent $1,453

Max offer price $164,900

Occupancy floor 81%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	43d	1	0.13mi
112 W Main St Unit B Millville, NJ	3.0	1.0	1384	$1,500	$1.08	43d	1	0.20mi

Listing history 8 events

1. 2026-06-03
   status $164,900 Pending 36 DOM
2. 2026-06-02
   days on market $164,900 Active 36 DOM
3. 2026-06-01
   days on market $164,900 Active 35 DOM
4. 2026-05-31
   days on market $164,900 Active 34 DOM
5. 2026-05-30
   days on market $164,900 Active 33 DOM
6. 2026-04-27
   listed $164,900 Active 1081-char remark
7. 2005-11-10
   soldstatus $74,500
8. 1990-04-27
   soldstatus $37,000

ⓘ 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: $2,572 · $214/mo
• Projected year-2 tax: $3,339 · $278/mo
• Expected delta: +$767/yr (+$64/mo · 29.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,267
• − Mortgage interest: −$9,237
• − Property taxes: −$2,572
• − Insurance: −$824
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$4,797
• Taxable income: $434
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $2,923/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: Millville School District
• NCES district ID: 3410320
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $48,851
• Composite: 15.23/100
• National rank: #9338
• State rank: #447 of 472 in NJ

Livability — Millville

• Score: 63/100
• State rank: #431
• US rank: #15561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, NJ
• County: Cumberland County · 80,266 people
• City population: 35,228
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 35,228
• Household income: $67,496
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1761.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.45%
• Current HPI: 274.8011
• Rent YoY: ▲ 1.94%
• Metro: Vineland-Bridgeton, NJ
• 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

+345.9% since first listed

5 events — show timeline

• 2026-06-15 Sold (MLS) $165,000 BRIGHT MLS
• 2026-06-02 Pending — BRIGHT MLS
• 2026-04-27 Listed $164,900 BRIGHT MLS
• 2005-11-10 Sold (Public Records) $74,500 Public Records
• 1990-04-27 Sold (Public Records) $37,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,572 · +3.3% YoY. Source: county tax records.