71 Mattix Run · Smithville, NJ 08205

$159,777

2 bd · 1.0 ba · 1,007 sqft · Condo public records · 43 Days on market

Built 1985 $260/mo HOA · 14% of rent

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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).

• Cash flow +18.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +5.9/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, low-maintenance living in the desirable Mattix Run community! This well-maintained 2-bedroom, 1-bath condo offers a bright and functional layout with abundant natural light throughout. The spacious living area flows seamlessly into the dining space, creating a comfortable setting for everyday living and entertaining. The kitchen features granite countertops and offers great functionality with room for future updates. Both bedrooms are generously sized with ample closet space. The full bathroom includes updated ceramic tile and a solid tub (no fiberglass insert), adding to the home’s overall durability and appeal. This home has been well cared for and presents an excellent opportunity for buyers looking to move right in or customize over time. Enjoy beautifully maintained grounds with scenic walking and biking paths throughout the community, creating a peaceful and inviting setting. Residents have access to a variety of amenities including a community pool, clubhouse, courts, and a playground conveniently located nearby. Ideally situated in Galloway Township, close to shopping, dining, major roadways, and just a short drive to shore points. Perfect for first-time buyers, downsizers, second home seekers by the jersey shore or investors seeking value, convenience, and low-maintenance living.

Key facts

• Clubhouse
• Community pool
• Scenic walkways

Tags

• GRANITE COUNTER TOPS
• UPDATED CERAMIC TILING
• COMMUNITY POOL
• CLUBHOUSE
• SCENIC WALKWAYS
• PLAYGROUND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.9% in Smithville — 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 64/100 on livability (#402 in NJ) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: cost of living C-, amenities F, commute F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 240 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $154,983 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 6.9

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: -9.7%
• Equity multiple: 0.65×
• Total profit: $-15,807
• Equity at exit: $23,823

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-254
• Equity at exit: $13,815

Cash invested: $44,738 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 240
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,926 medium
• Mortgage (P&I): −$838
• Tax from tax record: −$201 /mo · $2,417/yr
• Insurance: −$67
• HOA: −$260
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $155

Break-even live

Break-even rent $1,729

Max offer price $159,777

Occupancy floor 87%

Sensitivity live

Price	-10% $246	-5% $201	+0% $155	+5% $110	+10% $65
Rent	-10% $3	-5% $79	+0% $155	+5% $231	+10% $307
Rate	-1.0pp $236	-0.5pp $196	base $155	+0.5pp $114	+1.0pp $72

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: $39,944
• Closing costs: $4,793
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	22d	1	0.01mi
180 Walden Way Galloway, NJ	2.0–3.0	2.5	1290	$2,307	$1.79	0d	2	0.56mi
31 Arapaho Pl Unit 1 Galloway, NJ	2.0	1.0	855	$2,100	$2.46	14d	1	1.00mi
16 Iroquois Dr Galloway, NJ	2.0	1.0	855	$1,800	$2.11	14d	1	1.45mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-03
   status $159,777 Pending 43 DOM
2. 2026-04-12
   listed $159,777 Active 1332-char remark

   Show marketing remark (1332 chars)

   Welcome to easy, low-maintenance living in the desirable Mattix Run community! This well-maintained 2-bedroom, 1-bath condo offers a bright and functional layout with abundant natural light throughout. The spacious living area flows seamlessly into the dining space, creating a comfortable setting for everyday living and entertaining. The kitchen features granite countertops and offers great functionality with room for future updates. Both bedrooms are generously sized with ample closet space. The full bathroom includes updated ceramic tile and a solid tub (no fiberglass insert), adding to the home’s overall durability and appeal. This home has been well cared for and presents an excellent opportunity for buyers looking to move right in or customize over time. Enjoy beautifully maintained grounds with scenic walking and biking paths throughout the community, creating a peaceful and inviting setting. Residents have access to a variety of amenities including a community pool, clubhouse, courts, and a playground conveniently located nearby. Ideally situated in Galloway Township, close to shopping, dining, major roadways, and just a short drive to shore points. Perfect for first-time buyers, downsizers, second home seekers by the jersey shore or investors seeking value, convenience, and low-maintenance living.

3. 2005-09-07
   soldstatus $120,000
4. 2004-07-27
   soldstatus $88,000
5. 1997-05-28
   soldstatus $35,000
6. 1996-04-04
   soldstatus $26,600
7. 1995-01-10
   soldstatus $35,000

ⓘ 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: $2,417 · $201/mo
• Projected year-2 tax: $3,198 · $266/mo
• Expected delta: +$781/yr (+$65/mo · 32.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,107
• − Mortgage interest: −$8,950
• − Property taxes: −$2,417
• − Insurance: −$799
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − HOA: −$3,120
• − Depreciation: −$4,648
• Taxable loss: −$524
• Est. tax savings @ 24.0%: +$126
• After-tax cash flow: $1,990/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: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Smithville

• Score: 64/100
• State rank: #402
• US rank: #13992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 28,877
• Household income: $93,370
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 732.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 62% Hispanic / Latino 14% Two or more races 12% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 7% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 7% Russian/Polish/Slavic 3%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.12%
• Current HPI: 315.4814
• Rent YoY: —
• Metro: Atlantic City-Hammonton, NJ
• 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

+356.5% since first listed

6 events — show timeline

• 2026-04-12 Listed $159,777 BRIGHT MLS
• 2005-09-07 Sold (Public Records) $120,000 Public Records
• 2004-07-27 Sold (Public Records) $88,000 Public Records
• 1997-05-28 Sold (Public Records) $35,000 Public Records
• 1996-04-04 Sold (Public Records) $26,600 Public Records
• 1995-01-10 Sold (Public Records) $35,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,417 · +1.6% YoY. Source: county tax records.