507 Cushman Ave · Collings Lakes, NJ 08094

$109,900

3 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 3 Days on market

Built 1955 1,600 sqft lot $53/mo HOA · 2% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• 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

INVESTOR ALERT! This 3-bedroom, 2-bath, 1600-square-foot home sits on a large lot. However, it needs a total renovation from the rooter to the tooter. Priced to sell, and being sold as-is. CALLING all investors and cash buyers. This would be a great investment. Call NOW to schedule your private tour!

Key facts

• 1,600 sq ft lot
• 3 parking spots
• Built 1955

Property features AI

Finance

• Other: Above-grade finished living area reported as 1,600 (source: assessor)
• Financial info: Property listed in fee simple ownership; Property condition listed as below average and in need of major rehab
• HOA & community: Annual HOA fee of $641

Exterior

• Parking: Three total garage and parking spaces (includes driveway spaces)
• Utilities: Well water; Private septic tank; Natural gas available
• Home design: Detached structure; Estimated year built; Crawl space foundation; Insulated windows
• Construction: Vinyl siding; Wood siding
• Exterior features: Detached property; Gravel driveway; Three driveway parking spaces

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Three bedrooms on the upper level
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Natural gas heating; Natural gas hot water
• Interior features: Doors with lever handles; No basement; Seven total rooms including living and dining areas
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).

Location & tenants

• Location reads 61/100 on livability (#460 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living B, housing B; Watch: employment C-, schools F, amenities F.
• Buena Regional School District (rural): math 11% / reading 30% proficiency, ranked #425 of 472 in NJ (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 270 active listings in the ZIP; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 35% of the median local income ($97k/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 $760 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $22k; list at $110k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $109,900

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 2.55% ✓
• Cap rate: 18.21%
• Cash-on-cash: 42.56%
• DSCR: 2.89
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $340,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Delwyn Ln	0.11mi	3/2.0	1,501 (-6%)	3mo	$169,000	$113	82
105 Cloverdale Ln	0.31mi	4/2.0 (+1)	1,600 (0%)	1mo	$390,000	$244	80
323 Woodlawn Ave	0.40mi	3/1.5	1,728 (+8%)	5mo	$300,000	$174	62
119 W Collings Dr	0.43mi	3/1.0	1,500 (-6%)	6mo	$320,000	$213	61
207 Woodlawn Ave	0.50mi	4/2.0 (+1)	1,722 (+8%)	3mo	$389,000	$226	57
309 Jays Ave	0.47mi	3/1.5	1,422 (-11%)	3mo	$350,000	$246	55
309 W Collings Dr	0.59mi	4/2.0 (+1)	1,632 (+2%)	14mo	$350,000	$214	53
202 Wayne Ave	0.51mi	4/1.5 (+1)	1,728 (+8%)	6mo	$275,000	$159	51
119 E Collings Dr	0.50mi	3/3.0	1,830 (+14%)	4mo	$405,000	$221	46
315 Jays Ave	0.45mi	3/1.5	1,422 (-11%)	18mo	$300,000	$211	43
310 Fairmont Ave	0.54mi	3/2.0	1,423 (-11%)	19mo	$255,000	$179	41
313 Jays Ave	0.46mi	4/1.5 (+1)	1,422 (-11%)	16mo	$303,000	$213	40

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: 39.4%
• Equity multiple: 2.69×
• Total profit: $51,974
• Equity at exit: $16,386

10-year hold

• IRR: 45.9%
• Equity multiple: 5.41×
• Total profit: $135,855
• Equity at exit: $9,502

Cash invested: $30,772 (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 08094

• Active inventory: 270
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,805 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$450 /mo · $5,395/yr
• Insurance: −$46
• HOA: −$53
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $1,091

Break-even live

Break-even rent $1,424

Max offer price $109,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,480	-5% $1,442	+0% $1,091	+5% $1,060	+10% $1,029
Rent	-10% $870	-5% $981	+0% $1,091	+5% $1,202	+10% $1,313
Rate	-1.0pp $1,147	-0.5pp $1,119	base $1,091	+0.5pp $1,063	+1.0pp $1,034

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $53 · $636/yr

Listing history 4 events

1. 2026-06-19
   days on market $109,900 Active 3 DOM
2. 2026-06-18
   days on market $109,900 Active 2 DOM
3. 2026-06-17
   remarks 301-char remark
4. 2026-06-17
   listed $109,900 Active 1 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: $5,395 · $450/mo
• Projected year-2 tax: $5,395 · $450/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $33,664
• − Mortgage interest: −$6,156
• − Property taxes: −$5,395
• − Insurance: −$550
• − Repairs & maintenance: −$2,693
• − Management: −$2,693
• − HOA: −$636
• − Depreciation: −$3,197
• Taxable income: $12,343
• Est. tax owed @ 24.0%: −$2,962
• After-tax cash flow: $10,135/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: Buena Regional School District
• NCES district ID: 3402400
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 30% ▼ -3.00%
• Median HH income: $52,887
• Composite: 18.53/100
• National rank: #8915
• State rank: #425 of 472 in NJ

Livability — Collings Lakes

• Score: 61/100
• State rank: #460
• US rank: #17498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Collings Lakes, NJ
• County: Gloucester County · 160,422 people
• City population: 50,264
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 41,595
• Household income: $96,699
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 721.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Black 10% Two or more races 8% Asian 1%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5% Russian/Polish/Slavic 1%

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: ▼ -213.12%
• Current HPI: 278.3849
• 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

+399.5% since first listed

3 events — show timeline

• 2026-06-16 Listed $109,900 BRIGHT MLS
• 2026-06-16 Listed $109,900 SJSRMLS
• 1981-05-03 Sold (Public Records) $22,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $5,395 · +5.0% YoY. Source: county tax records.