724 Amy Ct · Toms River, NJ 08701

$196,500

1 bd · 2.0 ba · 889 sqft · Condo public records · 5 Days on market

Built 2009 $403/mo HOA · 19% of rent

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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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Covington Village, a unique 55+ condominium community! This spacious second floor, one-bedroom unit in a 3 story elevator bldg. has 1.5 baths, 9-foot ceilings, a huge terrace overlooking beautiful protected woods; closets galore including: 2 huge bedroom closets, an outdoor storage room and a combo closet/utility room. In addition, this lovely home features 42-inch kitchen cabinets, granite counters with a breakfast bar, a tray ceiling in the foyer, and hardwood floors in the kitchen, living room and dining room. Covington Village has a beautifully designed clubhouse with a 2-story great room, outdoor pool and spa, huge fitness center, movie screening room, banquet/meeting room, a billiardsroom, club rooms and a library. At this price, this home is truly incomparable!

Key facts

• Outdoor heated pool
• Wooded surroundings
• Billiards rm

Tags

• PRIVATE TERRACE
• WOODED SURROUNDINGS
• CLUBHOUSE AMENITIES
• OUTDOOR HEATED POOL
• FITNESS CTR
• BILLIARDS RM

Property features AI

Finance

• HOA & community: HOA with monthly fee; HOA amenities include exercise room, community room, pool, clubhouse, and common areas; HOA fee covers trash, lawn maintenance, pool, water and sewer, and common area maintenance

Exterior

• Parking: No garage
• Utilities: Public sewer
• Home design: Model: Ashford
• Exterior features: Condominium (attached property); Located in Covington Village subdivision

Interior

• Kitchen: Dishwasher; Microwave; Stove; Refrigerator; Gas cooking
• Bedrooms: 1 bedroom
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Washer, Dryer; Ceiling fan(s); Dishwasher; Light fixtures; Microwave; Stove; Refrigerator; Gas cooking
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $196k.

Deal economics

• At list price, monthly cash flow is $-49 ($-584/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (4.4% below list).
• Meets the 1% rule at list price ($2k rent vs $196k).
• Recommended offer: $188k (4.4% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 3.8% in Toms River — 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 81/100 on livability (#61 in NJ, #1,538 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: commute D, cost of living F.
• Lakewood Township School District (suburban): math 17% / reading 28% proficiency, ranked #417 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 419 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 39% of the median local income ($65k/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 $6k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $94k; list at $196k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% 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 $187,908 (4.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.07% ✓
• Cap rate: 6.00%
• Cash-on-cash: -1.06%
• DSCR: 0.95
• GRM: 7.8

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-34,689
• Equity at exit: $29,299

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-33,177
• Equity at exit: $16,990

Cash invested: $55,020 (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 08701

• Active inventory: 419
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,108 high
• Mortgage (P&I): −$1,030
• Tax from tax record: −$199 /mo · $2,383/yr
• Insurance: −$82
• HOA: −$403
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-49

Break-even live

Break-even rent $2,169

Max offer price $187,908

Occupancy floor 97%

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: $49,125
• Closing costs: $5,895
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Deer Path Lakewood, NJ	2.0	1.0–1.5	1187	$2,575	$2.17	1d	4	0.39mi
219 Buckingham Ct Lakewood, NJ	1.0	1.0	663	$1,900	$2.87	43d	1	0.75mi
278C Kingston Ct Lakewood, NJ	2.0	1.0	1000	$2,250	$2.25	1d	1	0.99mi
47L Cambridge Ct Lakewood, NJ	2.0	1.0	841	$1,795	$2.13	24d	1	1.23mi
106A Edinburgh Ln Lakewood, NJ	2.0	1.0	858	$2,200	$2.56	17d	1	1.23mi
2144 Lakewood Rd Toms River, NJ	1.0	1.0	750	$2,150	$2.87	7d	1	1.29mi
335A Canterbury Ct Lakewood, NJ	2.0	1.0	982	$1,950	$1.99	18d	1	1.37mi
341B Canterbury Ct Lakewood, NJ	2.0	1.0	982	$2,275	$2.32	21d	1	1.37mi

HOA detail condo

• Monthly dues: $403 · $4,836/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $196,500 Active 5 DOM
2. 2026-06-17
   days on market $196,500 Active 4 DOM
3. 2026-06-16
   days on market $196,500 Active 3 DOM
4. 2026-06-15
   remarks 687-char remark
5. 2026-06-15
   listed $196,500 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: $2,383 · $199/mo
• Projected year-2 tax: $3,638 · $303/mo
• Expected delta: +$1,255/yr (+$105/mo · 52.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,295
• − Mortgage interest: −$11,007
• − Property taxes: −$2,383
• − Insurance: −$982
• − Repairs & maintenance: −$2,024
• − Management: −$2,024
• − HOA: −$4,836
• − Depreciation: −$5,716
• Taxable loss: −$3,677
• Est. tax savings @ 24.0%: +$882
• After-tax cash flow: $299/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: Lakewood Township School District
• NCES district ID: 3408220
• Math proficiency: 17% ▼ -4.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $42,301
• Composite: 19.21/100
• National rank: #8813
• State rank: #417 of 472 in NJ

Livability — Toms River

• Score: 81/100
• State rank: #61
• US rank: #1538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ocean County · 439,426 people
• City population: 131,205
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 139,149
• Household income: $64,959
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 5757.0

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 6% Italian 5% Scotch-Irish 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 9% German/W. Germanic 7% Russian/Polish/Slavic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -682.83%
• Current HPI: 465.344
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+111.3% since first listed

29 events — show timeline

• 2026-06-14 Listed $196,500 MOMLS
• 2016-06-03 Delisted — MOMLS
• 2016-06-03 Pending — MOMLS
• 2016-06-03 Delisted — MOMLS
• 2016-06-03 Pending — MOMLS
• 2016-06-03 Delisted — MOMLS
• 2016-06-03 Pending — MOMLS
• 2016-06-03 Delisted — MOMLS
• 2016-06-03 Pending — MOMLS
• 2016-05-27 Sold (MLS) $94,000 MOMLS
• 2016-04-25 Delisted — MOMLS
• 2016-04-25 Pending — MOMLS
• 2016-04-25 Delisted — MOMLS
• 2016-04-25 Pending — MOMLS
• 2016-04-25 Delisted — MOMLS
• 2016-04-25 Pending — MOMLS
• 2016-04-25 Delisted — MOMLS
• 2016-04-25 Pending — MOMLS
• 2016-04-10 Delisted — MOMLS
• 2016-04-10 Pending — MOMLS
• 2016-04-10 Delisted — MOMLS
• 2016-04-10 Pending — MOMLS
• 2016-04-10 Delisted — MOMLS
• 2016-04-10 Pending — MOMLS
• 2016-04-10 Delisted — MOMLS
• 2016-04-10 Pending — MOMLS
• 2015-12-11 Listed $99,999 MOMLS
• 2013-04-04 Sold (MLS) $90,000 MOMLS
• 2013-01-27 Listed $93,000 MOMLS

Property tax history

+2.6%/yr

Latest (2025): $2,383 · +4.1% YoY. Source: county tax records.