3 Circle Dr · Browns Mills, NJ 08015

$339,900

4 bd · 2.0 ba · 2,844 sqft · SingleFamily public records · 62 Days on market

Built 1925 $120/sqft · 23% below area Est $441k · 23% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

With over 2,800 sqft, this isn't your typical property! Enjoy the screened-in wraparound porch, spacious rooms and soaring ceilings with exposed beams- creating a warm, inviting feel. Situated on a spacious half-acre lot, this home is within walking distance to the beautiful mirror lake and nearby shopping. Inside offers a clean slate with stunning woodwork and endless potential. Layout offers the possibility of two living spaces, featuring a full bathroom and kitchen on each level. Also has a full basement. HUGE Home. Call to schedule your private tour. Being sold as-is

Key facts

• Built 1925
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (11.7% below list).
• Recommended offer: $300k (11.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#436 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, cost of living B; Watch: schools F, amenities F, commute F.
• Pemberton Township School District (rural): math 12% / reading 38% proficiency, ranked #382 of 472 in NJ (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 116 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $115k; list at $340k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $300,000 (11.7% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 9.4

CMA / ARV

• ARV (median comp): $441,355
• List price: $339,900
• Delta: -22.99%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Rancocas Ln	0.21mi	4/3.5	3,074 (+8%)	13mo	$381,500	$124	59
115 Hanover	0.72mi	4/3.5	2,664 (-6%)	8mo	$454,000	$170	43
301 W Lakeshore Dr	0.69mi	4/3.5	2,624 (-8%)	8mo	$570,000	$217	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.30×
• Total profit: $-66,666
• Equity at exit: $50,680

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-72,497
• Equity at exit: $29,388

Cash invested: $95,172 (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 08015

• Home prices YoY: -23.1%
• Active inventory: 116
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$631 /mo · $7,566/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-185

Break-even live

Break-even rent $3,234

Max offer price $307,283

Occupancy floor —

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Monroe Ave Browns Mills, NJ	5.0	2.0	1976	$3,000	$1.52	43d	1	0.51mi

Listing history 20 events

1. 2026-06-18
   days on market $339,900 Active 62 DOM
2. 2026-06-17
   days on market $339,900 Active 61 DOM
3. 2026-06-16
   days on market $339,900 Active 60 DOM
4. 2026-06-15
   days on market $339,900 Active 59 DOM
5. 2026-06-13
   days on market $339,900 Active 57 DOM
6. 2026-06-13
   days on market $339,900 Active 56 DOM
7. 2026-06-09
   days on market $339,900 Active 53 DOM
8. 2026-06-08
   days on market $339,900 Active 52 DOM
9. 2026-06-07
   days on market $339,900 Active 51 DOM
10. 2026-06-04
    days on market $339,900 Active 48 DOM
11. 2026-06-03
    days on market $339,900 Active 47 DOM
12. 2026-06-02
    days on market $339,900 Active 46 DOM
13. 2026-06-01
    days on market $339,900 Active 45 DOM
14. 2026-05-31
    days on market $339,900 Active 44 DOM
15. 2026-05-09
    price $339,900 577-char remark

    Show marketing remark (577 chars)

    With over 2,800 sqft, this isn't your typical property! Enjoy the screened-in wraparound porch, spacious rooms and soaring ceilings with exposed beams- creating a warm, inviting feel. Situated on a spacious half-acre lot, this home is within walking distance to the beautiful mirror lake and nearby shopping. Inside offers a clean slate with stunning woodwork and endless potential. Layout offers the possibility of two living spaces, featuring a full bathroom and kitchen on each level. Also has a full basement. HUGE Home. Call to schedule your private tour. Being sold as-is

16. 2026-04-18
    listed $350,000 Active 577-char remark

    Show marketing remark (577 chars)

    With over 2,800 sqft, this isn't your typical property! Enjoy the screened-in wraparound porch, spacious rooms and soaring ceilings with exposed beams- creating a warm, inviting feel. Situated on a spacious half-acre lot, this home is within walking distance to the beautiful mirror lake and nearby shopping. Inside offers a clean slate with stunning woodwork and endless potential. Layout offers the possibility of two living spaces, featuring a full bathroom and kitchen on each level. Also has a full basement. HUGE Home. Call to schedule your private tour. Being sold as-is

17. 2026-04-02
    historical $350,000 577-char remark

    Show marketing remark (577 chars)

    With over 2,800 sqft, this isn't your typical property! Enjoy the screened-in wraparound porch, spacious rooms and soaring ceilings with exposed beams- creating a warm, inviting feel. Situated on a spacious half-acre lot, this home is within walking distance to the beautiful mirror lake and nearby shopping. Inside offers a clean slate with stunning woodwork and endless potential. Layout offers the possibility of two living spaces, featuring a full bathroom and kitchen on each level. Also has a full basement. HUGE Home. Call to schedule your private tour. Being sold as-is

18. 1993-05-27
    soldstatus $115,000
19. 1993-02-08
    soldstatus $115,000
20. 1987-01-23
    soldstatus $75,000

ⓘ 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: $7,566 · $631/mo
• Projected year-2 tax: $8,015 · $668/mo
• Expected delta: +$449/yr (+$37/mo · 5.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $36,000
• − Mortgage interest: −$19,040
• − Property taxes: −$7,566
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$9,888
• Taxable loss: −$7,954
• Est. tax savings @ 24.0%: +$1,909
• After-tax cash flow: $-307/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: Pemberton Township School District
• NCES district ID: 3412810
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $60,951
• Composite: 23.0/100
• National rank: #7979
• State rank: #382 of 472 in NJ

Livability — Browns Mills

• Score: 63/100
• State rank: #436
• US rank: #15864

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Browns Mills, NJ
• Population (ZIP): 19,143

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 14% Black 13% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 3% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 7% French/Haitian/Cajun 3% Tagalog/Filipino 1%

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.84%
• Current HPI: 329.1731
• 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

+353.2% since first listed

6 events — show timeline

• 2026-05-09 Price Changed $339,900 BRIGHT MLS
• 2026-04-18 Listed $350,000 BRIGHT MLS
• 2026-04-02 Coming Soon $350,000 BRIGHT MLS
• 1993-05-27 Sold (Public Records) $115,000 Public Records
• 1993-02-08 Sold (Public Records) $115,000 Public Records
• 1987-01-23 Sold (Public Records) $75,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $7,566 · +6.1% YoY. Source: county tax records.