4 Maryland Ave Unit B · Cedar Glen Lakes, NJ 08759

$112,500

1 bd · 1.0 ba · 1,000 sqft · Condo · 52 Days on market

Built 1978 Good condition $112/sqft · 28% below area Est $156k · 28% under $503/mo HOA · 24% of rent ↓ 2% since listing

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Why this score? — see what drove the B+ 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 +28.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A beautifully maintained co-op home located in a welcoming, picturesque community. Originally a two-bedroom layout, this residence has been thoughtfully transformed into a spacious one-bedroom with an open-concept living area. The redesign creates an airy, modern flow perfect for comfortable living and effortless entertaining. Can easily be converted back to a two bedroom.

Key facts

• $503 HOA
• Garage
• Built 1978

Property features AI

Finance

• Other: Not in a federal flood zone; Pets allowed (dogs OK)
• HOA & community: Monthly coop/condo fee of $503; Fee includes common area maintenance; Community amenities include a clubhouse

Exterior

• Parking: Attached front-entry garage (1 space); Driveway parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Cooperative ownership; Located in a senior community (55+)
• Construction: Year built: estimated
• Exterior features: Above-grade other structures; Corner unit

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric baseboard heating; Central air conditioning (electric)
• Interior features: Unit is not furnished; No basement
• Laundry & utility: Laundry on the main floor

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $112k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#406 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute 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.
• Market conditions: 648 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $778 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,125 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.87% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.47%
• DSCR: 1.64
• GRM: 4.5

CMA / ARV

• ARV (median comp): $156,191
• List price: $112,500
• Delta: -27.97%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $6,310
• Equity at exit: $16,774

10-year hold

• IRR: 14.8%
• Equity multiple: 2.21×
• Total profit: $38,039
• Equity at exit: $9,727

Cash invested: $31,500 (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 08759

• Active inventory: 648
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,102 medium
• Mortgage (P&I): −$590
• Tax est. 1.5%: −$141 /mo · $1,688/yr
• Insurance: −$47
• HOA: −$503
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $380

Break-even live

Break-even rent $1,621

Max offer price $112,500

Occupancy floor 77%

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Westport Dr #71 Whiting, NJ	2.0	1.0	1120	$2,200	$1.96	1d	1	1.16mi
49 Westport Dr #71 Whiting, NJ	2.0	1.5	1192	$1,995	$1.67	44d	1	1.19mi

HOA detail condo

• Monthly dues: $503 · $6,036/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $112,500 Active 52 DOM
2. 2026-06-17
   days on market $112,500 Active 51 DOM
3. 2026-06-16
   days on market $112,500 Active 50 DOM
4. 2026-06-15
   days on market $112,500 Active 49 DOM
5. 2026-06-13
   days on market $112,500 Active 47 DOM
6. 2026-06-09
   days on market $112,500 Active 43 DOM
7. 2026-06-08
   days on market $112,500 Active 42 DOM
8. 2026-06-07
   days on market $112,500 Active 41 DOM
9. 2026-06-04
   days on market $112,500 Active 38 DOM
10. 2026-06-03
    days on market $112,500 Active 37 DOM
11. 2026-06-02
    days on market $112,500 Active 36 DOM
12. 2026-06-01
    days on market $112,500 Active 35 DOM
13. 2026-05-31
    days on market $112,500 Active 34 DOM
14. 2026-04-27
    listed $115,000 Active 375-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,221
• − Mortgage interest: −$6,302
• − Property taxes: −$1,688
• − Insurance: −$562
• − Repairs & maintenance: −$2,018
• − Management: −$2,018
• − HOA: −$6,036
• − Depreciation: −$3,273
• Taxable income: $3,325
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $3,761/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

A well-maintained, one-bedroom co-op home with a good condition score. Minor updates to the kitchen and painting would significantly enhance its resale value.

Repairs flagged

• Moderate Kitchen cabinets — Appears dated and could benefit from updating
• Moderate Bathtub and fixtures — Need updating for a fresh look

Value-add opportunities

• Resale Updating kitchen cabinets and fixtures — Freshens the space and adds value
• Resale Painting interior walls — Fresh paint enhances curb appeal
• Resale Updating countertops — Modernizes the kitchen and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Appears dated and could benefit from updating	Moderate	$3,000–15,000
Bathtub and fixtures · Need updating for a fresh look	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Resale Updating kitchen cabinets and fixtures — Freshens the space and adds value ↑
• Resale Painting interior walls — Fresh paint enhances curb appeal ↑
• Resale Updating countertops — Modernizes the kitchen and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Cedar Glen Lakes

• Score: 64/100
• State rank: #406
• US rank: #14186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Glen Lakes, NJ
• Population (ZIP): 34,290

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -347.85%
• Current HPI: 274.4679
• Rent YoY: —
• Metro: —
• 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

-2.2% since first listed

2 events — show timeline

• 2026-05-20 Price Changed $112,500 BRIGHT MLS
• 2026-04-27 Listed $115,000 BRIGHT MLS