8 Spruce Blvd · Browns Mills, NJ 08015

$220,000

2 bd · 1.0 ba · 1,094 sqft · SingleFamily public records · 14 Days on market

Built 1954 9,147 sqft lot Est $295k · 26% under ↓ 12% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +4.7/10.0
• DSCR +4.6/10.0
• Livability +3.2/5.0
• 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

Welcome home to this inviting and thoughtfully updated 3-bedroom, 1-bathroom rancher nestled in tranquil Blueberry Manor. This quaint, well-built residence offers a perfect blend of modern comfort and classic charm. Just minutes from downtown shopping, and with easy access to routes 38, 70 and 72 this is the perfect home for commuters and work-from-homes alike. Within walking distance of the new Denbo-Chrichton Elementary School and Reflections Park, it also also optimally located for families. Whether you're a first-time homebuyer, or looking to downsize, don't miss your opportunity to own this well appointed residence. Homes like this don't stay listed for long. Schedule your showing today!

Key facts

• 9,147 sq ft lot
• Built 1954
• Listed 13 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric cooling fuel
• Home design: Detached structure; Frame construction
• Construction: Block foundation; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone; 2+ access exits

Interior

• Kitchen: Range hood; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating (oil); Central air conditioning (electric); Oil hot water
• Interior features: Eat-in kitchen; Estimated living area
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $68 ($819/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (3.3% below list).
• Recommended offer: $213k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.2% in Browns Mills — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 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.
• Zoned schools: Pemberton Township High School (math 13% / reading 45%, grade F, #298 of 399 statewide, top 75%, 1,057 students, 56% FRL) — zoned schools average 56% FRL vs 37% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 117 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $7k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $212,704 (3.3% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.97% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $295,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Railroad St	0.24mi	3/1.0 (+1)	1,080 (-1%)	8mo	$363,000	$336	75
606 Arlene Dr	0.17mi	3/1.0 (+1)	1,118 (+2%)	17mo	$280,000	$250	70
509 Berkeley Dr	0.17mi	3/1.0 (+1)	1,054 (-4%)	18mo	$310,000	$294	66
45 Jackson Ave	0.20mi	3/1.0 (+1)	1,080 (-1%)	21mo	$330,000	$306	66
235 Coville Dr	0.35mi	3/1.0 (+1)	1,118 (+2%)	16mo	$302,000	$270	62
23 Scammell Dr	0.21mi	3/2.0 (+1)	1,132 (+4%)	17mo	$340,000	$300	62
610 Berkeley Dr	0.16mi	3/1.0 (+1)	972 (-11%)	11mo	$313,000	$322	60
146 Arch St	0.50mi	3/1.0 (+1)	1,196 (+9%)	4mo	$312,000	$261	53
513 Berkeley Dr	0.15mi	3/1.0 (+1)	1,227 (+12%)	20mo	$270,000	$220	51
3425 New Moon St	0.40mi	3/2.0 (+1)	1,200 (+10%)	14mo	$185,000	$154	45
94 Garfield Blvd	0.23mi	3/1.0 (+1)	1,254 (+15%)	21mo	$300,000	$239	43
3543 Weymouth	0.53mi	3/2.0 (+1)	1,200 (+10%)	12mo	$128,000	$107	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: -14.1%
• Equity multiple: 0.49×
• Total profit: $-31,216
• Equity at exit: $32,803

10-year hold

• IRR: -5.3%
• Equity multiple: 0.66×
• Total profit: $-21,229
• Equity at exit: $19,022

Cash invested: $61,600 (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: 117
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,127 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$367 /mo · $4,401/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $68

Break-even live

Break-even rent $2,041

Max offer price $220,000

Occupancy floor 92%

Sensitivity live

Price	-10% $193	-5% $130	+0% $68	+5% $6	+10% $-56
Rent	-10% $-100	-5% $-16	+0% $68	+5% $152	+10% $236
Rate	-1.0pp $179	-0.5pp $124	base $68	+0.5pp $11	+1.0pp $-47

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Juliustown Rd Unit 20C Browns Mills, NJ	1.0	1.0	700	$1,500	$2.14	3d	1	0.67mi
27 Carlisle St Browns Mills, NJ	3.0	1.0	984	$2,900	$2.95	45d	1	1.27mi
601 E Lakeshore Dr Browns Mills, NJ	2.0	1.0	961	$2,595	$2.70	12d	1	1.48mi
28 Alfred Dr Unit 28 ALD Browns Mills, NJ	2.0	1.0	784	$1,650	$2.10	45d	1	1.48mi

Listing history 11 events

1. 2026-06-21
   days on market $220,000 Active 14 DOM
2. 2026-06-18
   days on market $220,000 Active 11 DOM
3. 2026-06-17
   days on market $220,000 Active 10 DOM
4. 2026-06-16
   days on market $220,000 Active 9 DOM
5. 2026-06-15
   days on market $220,000 Active 8 DOM
6. 2026-06-13
   days on market $220,000 Active 6 DOM
7. 2026-06-13
   days on market $220,000 Active 5 DOM
8. 2026-06-09
   days on market $220,000 Active 2 DOM
9. 2026-06-08
   status $220,000 Active 1 DOM
10. 2026-06-07
    remarks 689-char remark
11. 2026-06-07
    listed $220,000 Coming Soon 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: $4,401 · $367/mo
• Projected year-2 tax: $4,940 · $412/mo
• Expected delta: +$538/yr (+$45/mo · 12.2%)

ⓘ 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 4/10 Moderate
• 🌡 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: $25,524
• − Mortgage interest: −$12,323
• − Property taxes: −$4,401
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − Depreciation: −$6,400
• Taxable loss: −$2,784
• Est. tax savings @ 24.0%: +$668
• After-tax cash flow: $1,487/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

-12.0% since first listed

12 events — show timeline

• 2026-06-06 Coming Soon $220,000 BRIGHT MLS
• 2023-12-28 Sold (Public Records) $231,000 Public Records
• 2023-12-08 Sold (MLS) $231,000 MOMLS
• 2023-12-08 Sold (MLS) $231,000 BRIGHT MLS
• 2023-12-07 Pending — BRIGHT MLS
• 2023-12-06 Sold (MLS) $231,000 BRIGHT MLS
• 2023-12-04 Pending — BRIGHT MLS
• 2023-11-24 Sold (MLS) $231,000 BRIGHT MLS
• 2023-10-27 Pending — BRIGHT MLS
• 2023-10-27 Pending — MOMLS
• 2023-09-22 Listed $249,990 MOMLS
• 2023-09-22 Listed $249,990 BRIGHT MLS

Property tax history

+4.7%/yr

Latest (2025): $4,401 · +6.1% YoY. Source: county tax records.