26 B Moccasin Dr Unit B

Crestwood Village, NJ 08759

$119,000C+

2 bd · 2.0 ba · 1,558 sqft · Built — · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,284/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$198
• HOA: −$443
• Vac / Maint / Mgmt: −$480
• Net cashflow: $539/mo
• Annual: $6,466/yr
• Cap rate: 11.73%
• Cash-on-cash: 19.40%
• DSCR: 1.86
• 1% rule: 1.92%
• Cash to close: $33,320

Investor read

• This is a 2-bed/2.0-bath single-family listed at $119k. Condition is rated average.
• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• It's been on market 29 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#422 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, health & safety B+; Watch: amenities F, commute F, employment F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Whiting Elementary School (math 22% / reading 47%, grade F, #582 of 1,303 statewide, top 49%, 301 students, 25% FRL); Manchester Township Middle School (math 28% / reading 45%, grade F, #226 of 431 statewide, top 55%, 582 students, 41% FRL); Manchester Township High School (math 21% / reading 38%, grade F, #290 of 399 statewide, top 74%, 959 students, 38% FRL).
• Market conditions: 891 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 38d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 88% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.7% vs local median 6.9% in Crestwood Village — 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.
• At $2,284/mo this rent would consume 50% of the median local household income ($55k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Dated cabinetry may benefit from a fresh coat of paint or replacement.
• Minor: Bathroom fixtures — Dated fixtures may benefit from replacement or updating.
• Minor: Exterior paint — Fresh coat of paint may enhance curb appeal.
• Minor: Carpeting — Clean or replace carpeting to improve comfort and appearance.
• Minor: Interior paint — Touch-ups may improve the overall appearance of the interior.
• Minor: Windows — Clean or replace windows to improve energy efficiency and appearance.