647 Route 45 · Alloway, NJ 08079

$185,000

2 bd · 1.0 ba · 1,531 sqft · SingleFamily public records · 227 Days on market

Built 1965 0.92 ac lot $121/sqft · 43% below area Est $327k · 43% 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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• Schools +5.1/10.0
• Appreciation +4.8/10.0
• 1% rule +4.2/10.0
• Livability +3.3/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 2-Bedroom Home on Nearly 1 Acre in Serene Mannington Township Discover peace and privacy in this 2-bedroom, 1-bathroom home nestled on nearly a full acre in rural Mannington Township, Salem County. Backing up to wooded land and surrounded by picturesque farms, this property offers a tranquil lifestyle in the heart of the countryside near the scenic Mannington Meadows. Enjoy the best of both worlds — quiet country living with convenient access to Wilmington, DE, Philadelphia, PA, and popular Jersey Shore destinations. Whether you're looking for a weekend retreat or a full-time residence, this property offers space, nature, and serenity. Please Note: Sale is strictly AS IS, WHERE IS. Buyer is responsible for all certifications, inspections, and repairs, including but not limited to the Certificate of Occupancy, on-site waste disposal testing, and water testing. Sale is contingent upon seller securing suitable housing. Don’t miss this unique opportunity to own a piece of peaceful South Jersey!

Key facts

• Convenient access
• Wooded land
• Nearly 1 acre

Tags

• NEARLY 1 ACRE
• WOODED LAND
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (7.7% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#368 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mannington Township School District (rural): math 55% / reading 55% proficiency, ranked #301 of 612 in NJ (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 100 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $576 of equity ($1k loan paydown + $-703 appreciation (-0.4% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: major wind risk, 27% 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 $162,800 (12.0% 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 227 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.92% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.90
• GRM: 9.0

CMA / ARV

• ARV (median comp): $327,291
• List price: $185,000
• Delta: -43.48%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.71×
• Total profit: $-15,046
• Equity at exit: $50,228

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-292
• Equity at exit: $57,657

Cash invested: $51,800 (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 08079

• Home prices YoY: -0.1%
• Active inventory: 100
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,707 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$403 /mo · $4,837/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-102

Break-even live

Break-even rent $1,836

Max offer price $167,012

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $185,000 Active 227 DOM
2. 2026-06-17
   days on market $185,000 Active 226 DOM
3. 2026-06-16
   days on market $185,000 Active 225 DOM
4. 2026-06-15
   days on market $185,000 Active 224 DOM
5. 2026-06-13
   days on market $185,000 Active 222 DOM
6. 2026-06-13
   days on market $185,000 Active 221 DOM
7. 2026-06-09
   days on market $185,000 Active 218 DOM
8. 2026-06-08
   days on market $185,000 Active 217 DOM
9. 2026-06-07
   days on market $185,000 Active 216 DOM
10. 2026-06-04
    days on market $185,000 Active 213 DOM
11. 2026-06-03
    days on market $185,000 Active 212 DOM
12. 2026-06-02
    days on market $185,000 Active 211 DOM
13. 2026-06-01
    days on market $185,000 Active 210 DOM
14. 2026-05-31
    days on market $185,000 Active 209 DOM
15. 2026-04-28
    status Active 1026-char remark

    Show marketing remark (1026 chars)

    Charming 2-Bedroom Home on Nearly 1 Acre in Serene Mannington Township Discover peace and privacy in this 2-bedroom, 1-bathroom home nestled on nearly a full acre in rural Mannington Township, Salem County. Backing up to wooded land and surrounded by picturesque farms, this property offers a tranquil lifestyle in the heart of the countryside near the scenic Mannington Meadows. Enjoy the best of both worlds — quiet country living with convenient access to Wilmington, DE, Philadelphia, PA, and popular Jersey Shore destinations. Whether you're looking for a weekend retreat or a full-time residence, this property offers space, nature, and serenity. Please Note: Sale is strictly AS IS, WHERE IS. Buyer is responsible for all certifications, inspections, and repairs, including but not limited to the Certificate of Occupancy, on-site waste disposal testing, and water testing. Sale is contingent upon seller securing suitable housing. Don’t miss this unique opportunity to own a piece of peaceful South Jersey!

16. 2026-04-22
    historical 1026-char remark

    Show marketing remark (1026 chars)

    Charming 2-Bedroom Home on Nearly 1 Acre in Serene Mannington Township Discover peace and privacy in this 2-bedroom, 1-bathroom home nestled on nearly a full acre in rural Mannington Township, Salem County. Backing up to wooded land and surrounded by picturesque farms, this property offers a tranquil lifestyle in the heart of the countryside near the scenic Mannington Meadows. Enjoy the best of both worlds — quiet country living with convenient access to Wilmington, DE, Philadelphia, PA, and popular Jersey Shore destinations. Whether you're looking for a weekend retreat or a full-time residence, this property offers space, nature, and serenity. Please Note: Sale is strictly AS IS, WHERE IS. Buyer is responsible for all certifications, inspections, and repairs, including but not limited to the Certificate of Occupancy, on-site waste disposal testing, and water testing. Sale is contingent upon seller securing suitable housing. Don’t miss this unique opportunity to own a piece of peaceful South Jersey!

17. 2026-02-16
    status Active 1026-char remark

    Show marketing remark (1026 chars)

    Charming 2-Bedroom Home on Nearly 1 Acre in Serene Mannington Township Discover peace and privacy in this 2-bedroom, 1-bathroom home nestled on nearly a full acre in rural Mannington Township, Salem County. Backing up to wooded land and surrounded by picturesque farms, this property offers a tranquil lifestyle in the heart of the countryside near the scenic Mannington Meadows. Enjoy the best of both worlds — quiet country living with convenient access to Wilmington, DE, Philadelphia, PA, and popular Jersey Shore destinations. Whether you're looking for a weekend retreat or a full-time residence, this property offers space, nature, and serenity. Please Note: Sale is strictly AS IS, WHERE IS. Buyer is responsible for all certifications, inspections, and repairs, including but not limited to the Certificate of Occupancy, on-site waste disposal testing, and water testing. Sale is contingent upon seller securing suitable housing. Don’t miss this unique opportunity to own a piece of peaceful South Jersey!

18. 2026-02-11
    status Pending 1026-char remark

    Show marketing remark (1026 chars)

    Charming 2-Bedroom Home on Nearly 1 Acre in Serene Mannington Township Discover peace and privacy in this 2-bedroom, 1-bathroom home nestled on nearly a full acre in rural Mannington Township, Salem County. Backing up to wooded land and surrounded by picturesque farms, this property offers a tranquil lifestyle in the heart of the countryside near the scenic Mannington Meadows. Enjoy the best of both worlds — quiet country living with convenient access to Wilmington, DE, Philadelphia, PA, and popular Jersey Shore destinations. Whether you're looking for a weekend retreat or a full-time residence, this property offers space, nature, and serenity. Please Note: Sale is strictly AS IS, WHERE IS. Buyer is responsible for all certifications, inspections, and repairs, including but not limited to the Certificate of Occupancy, on-site waste disposal testing, and water testing. Sale is contingent upon seller securing suitable housing. Don’t miss this unique opportunity to own a piece of peaceful South Jersey!

19. 2025-10-22
    listed $185,000 Active 1026-char remark

    Show marketing remark (1026 chars)

    Charming 2-Bedroom Home on Nearly 1 Acre in Serene Mannington Township Discover peace and privacy in this 2-bedroom, 1-bathroom home nestled on nearly a full acre in rural Mannington Township, Salem County. Backing up to wooded land and surrounded by picturesque farms, this property offers a tranquil lifestyle in the heart of the countryside near the scenic Mannington Meadows. Enjoy the best of both worlds — quiet country living with convenient access to Wilmington, DE, Philadelphia, PA, and popular Jersey Shore destinations. Whether you're looking for a weekend retreat or a full-time residence, this property offers space, nature, and serenity. Please Note: Sale is strictly AS IS, WHERE IS. Buyer is responsible for all certifications, inspections, and repairs, including but not limited to the Certificate of Occupancy, on-site waste disposal testing, and water testing. Sale is contingent upon seller securing suitable housing. Don’t miss this unique opportunity to own a piece of peaceful South Jersey!

ⓘ 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: $4,837 · $403/mo
• Projected year-2 tax: $4,837 · $403/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $20,483
• − Mortgage interest: −$10,363
• − Property taxes: −$4,837
• − Insurance: −$925
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$5,382
• Taxable loss: −$4,301
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $-190/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: Mannington Township School District
• NCES district ID: 3409480
• Math proficiency: 55% ▼ -5.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $69,595
• Composite: 50.61/100
• National rank: #3957
• State rank: #301 of 612 in NJ

Livability — Alloway

• Score: 66/100
• State rank: #368
• US rank: #12334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Salem County · 24,175 people
• City population: 931
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 10,762
• Household income: $54,641
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 663.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.38%
• Current HPI: 258.0047
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

5 events — show timeline

• 2026-04-28 Relisted — BRIGHT MLS
• 2026-04-22 Listing Removed — BRIGHT MLS
• 2026-02-16 Relisted — BRIGHT MLS
• 2026-02-11 Pending — BRIGHT MLS
• 2025-10-22 Listed $185,000 BRIGHT MLS

Property tax history

+3.0%/yr

Latest (2025): $4,837 · +3.7% YoY. Source: county tax records.