531 N 5th St · Millville, NJ 08332

$399,000

8 bd · 4.0 ba · 2,881 sqft · MultiFamily · 157 Days on market

Built 1927 6,098 sqft lot Est $429k · 7% under

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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
• ARV discount +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Investment Opportunity Knocks! Four Family in highly sought neighborhood of Millville. Four - 2 bedroom, 1 Bath apartments rented for $1200 each makes this an excellent income generating property for you, the next Owner

Key facts

• 6,098 sq ft lot
• Built 1927
• Listed 156 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $351k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 4.2% in Millville — 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 63/100 on livability (#431 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: schools F, crime F, amenities F.
• Millville School District (suburban): math 6% / reading 28% proficiency, ranked #447 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 296 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• At $6,105/mo this rent would consume 109% of the median local household income ($67k/yr) (locally 1761% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $112k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $101k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% 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 $351,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.53% ✓
• Cap rate: 12.51%
• Cash-on-cash: 22.19%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $429,269
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401-403 W Green St	0.62mi	8/—	3,000 (+4%)	10mo	$510,000	$170	56
520-522 2nd St N	0.28mi	7/3.0 (-1)	2,704 (-6%)	23mo	$402,000	$149	49
324 E Main St E E	0.43mi	7/— (-1)	3,312 (+15%)	2mo	$307,000	$93	48

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.54×
• Total profit: $60,549
• Equity at exit: $59,492

10-year hold

• IRR: 21.7%
• Equity multiple: 2.76×
• Total profit: $196,617
• Equity at exit: $34,498

Cash invested: $111,720 (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 08332

• Home prices YoY: -28.9%
• Rents YoY: 1.9%
• Active inventory: 296
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $6,105 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,282
• Net cashflow: $2,066

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 61%

Sensitivity live

Price	-10% $2,341	-5% $2,203	+0% $2,066	+5% $1,928	+10% $1,790
Rent	-10% $1,583	-5% $1,824	+0% $2,066	+5% $2,307	+10% $2,548
Rate	-1.0pp $2,266	-0.5pp $2,167	base $2,066	+0.5pp $1,962	+1.0pp $1,857

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,104
Total (4 units)			$6,105

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $399,000 Active 157 DOM
2. 2026-06-18
   days on market $399,000 Active 156 DOM
3. 2026-06-17
   days on market $399,000 Active 155 DOM
4. 2026-06-16
   days on market $399,000 Active 154 DOM
5. 2026-06-15
   days on market $399,000 Active 153 DOM
6. 2026-06-14
   days on market $399,000 Active 151 DOM
7. 2026-06-13
   pricedays on market $399,000 Active 150 DOM
8. 2026-06-10
   days on market $410,000 Active 148 DOM
9. 2026-06-09
   days on market $410,000 Active 147 DOM
10. 2026-06-08
    days on market $410,000 Active 146 DOM
11. 2026-06-07
    pricedays on market $410,000 Active 145 DOM
12. 2026-06-02
    days on market $425,000 Active 140 DOM
13. 2026-06-01
    days on market $425,000 Active 139 DOM
14. 2026-05-31
    days on market $425,000 Active 138 DOM
15. 2026-05-30
    days on market $425,000 Active 137 DOM
16. 2026-04-20
    price $425,000 219-char remark

    Show marketing remark (219 chars)

    Investment Opportunity Knocks! Four Family in highly sought neighborhood of Millville. Four - 2 bedroom, 1 Bath apartments rented for $1200 each makes this an excellent income generating property for you, the next Owner

17. 2026-03-30
    price $450,000 219-char remark

    Show marketing remark (219 chars)

    Investment Opportunity Knocks! Four Family in highly sought neighborhood of Millville. Four - 2 bedroom, 1 Bath apartments rented for $1200 each makes this an excellent income generating property for you, the next Owner

18. 2026-03-16
    price $475,000 219-char remark

    Show marketing remark (219 chars)

    Investment Opportunity Knocks! Four Family in highly sought neighborhood of Millville. Four - 2 bedroom, 1 Bath apartments rented for $1200 each makes this an excellent income generating property for you, the next Owner

19. 2026-01-13
    listed $500,000 Active 219-char remark

    Show marketing remark (219 chars)

    Investment Opportunity Knocks! Four Family in highly sought neighborhood of Millville. Four - 2 bedroom, 1 Bath apartments rented for $1200 each makes this an excellent income generating property for you, the next Owner

20. 2019-09-06
    historical
21. 2019-03-08
    listed $165,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $73,260
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,861
• − Management: −$5,861
• − Depreciation: −$11,607
• Taxable income: $19,601
• Est. tax owed @ 24.0%: −$4,704
• After-tax cash flow: $20,082/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: Millville School District
• NCES district ID: 3410320
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $48,851
• Composite: 15.23/100
• National rank: #9338
• State rank: #447 of 472 in NJ

Livability — Millville

• Score: 63/100
• State rank: #431
• US rank: #15561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, NJ
• County: Cumberland County · 80,266 people
• City population: 35,228
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 35,228
• Household income: $67,496
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1761.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.45%
• Current HPI: 274.8011
• Rent YoY: ▲ 1.94%
• Metro: Vineland-Bridgeton, 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

+157.6% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $425,000 BRIGHT MLS
• 2026-03-30 Price Changed $450,000 BRIGHT MLS
• 2026-03-16 Price Changed $475,000 BRIGHT MLS
• 2026-01-13 Listed $500,000 BRIGHT MLS
• 2019-09-06 Listing Removed — BRIGHT MLS
• 2019-03-08 Listed $165,000 BRIGHT MLS