36 Whitemarsh Ct · Mystic Island, NJ 08087

$224,900

2 bd · 1.0 ba · 978 sqft · SingleFamily · 6 Days on market

Built 1992 Good condition Est $266k · 15% under $150/mo HOA · 7% 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 +14.7/30.0
• ARV discount +14.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Tall Timbers, Affordable Living at the Shore! Beautiful 2 Bedroom, 1 Bath Condo in Great Condition. Balcony backs to private woods for added Peace and Privacy. Enjoy Spacious, Generously Sized Rooms, Walk-in Closets in bedrooms and All Appliances included for Easy Move In Convenience. Community Amenities include Swimming Pool and Tennis Courts, offering Resort Style Living right at Home! A Perfect Blend of Comfort, Space and Location! Don't let this one slip by!

Key facts

• Private woods
• Walk-in closets
• Swimming pool

Tags

• PRIVATE WOODS
• WALK-IN CLOSETS
• SWIMMING POOL
• TENNIS COURTS

Property features AI

Finance

• HOA & community: Monthly HOA fee of $150; HOA covers lawn maintenance, trash, snow removal, and other items; Association amenities include swimming pool and tennis courts; One-time other fees of $250

Exterior

• Parking: Parking lot with 2 spaces (total 2 garage/parking spaces)
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry on level 2
• Construction: Year built information from assessor
• Exterior features: Community pool; Above grade and below grade structures noted; Middle-of-block location

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas hot water
• Interior features: No basement; Accessibility features: Other
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $58 ($694/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 $223k (0.8% below list).
• Recommended offer: $223k (0.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 2.6% in Mystic Island — 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 62/100 on livability (#455 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A; Watch: employment C-, amenities F, commute F.
• Pinelands Regional School District (rural): math 14% / reading 46% proficiency, ranked #344 of 472 in NJ (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frog Pond Elementary School (math 14% / reading 33%, grade F, #921 of 1,303 statewide, top 71%, 771 students, 48% FRL); Pinelands Regional Jr. High School (math 10% / reading 48%, grade F, #321 of 431 statewide, top 77%, 520 students, 42% FRL); Pinelands Regional High School (math 21% / reading 41%, grade F, #277 of 399 statewide, top 70%, 1,069 students, 40% FRL).
• Market conditions: 296 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,434 units permitted in Ocean County in 2024 (868 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.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 27y ago 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 $56k; list at $225k implies a 305% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $223,050 (0.8% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $266,016
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Timberline Dr	0.12mi	2/1.5	896 (-8%)	7mo	$260,000	$290	72
107 Westchester Dr	0.09mi	2/1.0	888 (-9%)	11mo	$220,000	$248	71
120 Lexington Dr	0.75mi	2/1.0	953 (-3%)	10mo	$210,000	$220	53
24 Pikes Peak Rd	0.63mi	2/1.0	1,120 (+14%)	14mo	$305,000	$272	35
117 Leitz Blvd	0.58mi	3/1.0 (+1)	1,104 (+13%)	17mo	$310,000	$281	32

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-32,632
• Equity at exit: $33,533

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-23,159
• Equity at exit: $19,445

Cash invested: $62,972 (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 08087

• Active inventory: 296
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,230 medium
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$150
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $58

Break-even live

Break-even rent $2,157

Max offer price $224,900

Occupancy floor 92%

Sensitivity live

Price	-10% $213	-5% $136	+0% $58	+5% $-20	+10% $-98
Rent	-10% $-118	-5% $-30	+0% $58	+5% $146	+10% $234
Rate	-1.0pp $171	-0.5pp $115	base $58	+0.5pp $0	+1.0pp $-60

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Timberline Dr Little Egg Harbor Twp, NJ	2.0	1.5	943	$2,250	$2.39	26d	1	0.13mi
8 Scotch Pine Dr #186 Little Egg Harbor Twp, NJ	1.0	1.0	680	$1,600	$2.35	17d	1	0.53mi
32 Pin Oak Ln Little Egg Harbor Twp, NJ	3.0	1.5	1000	$2,550	$2.55	0d	1	0.59mi

HOA detail

• Monthly dues: $150 · $1,800/yr
• Likely covers: pool

Listing history 13 events

1. 2026-05-18
   status Pending 483-char remark

   Show marketing remark (483 chars)

   Welcome to Tall Timbers, Affordable Living at the Shore! Beautiful 2 Bedroom, 1 Bath Condo in Great Condition. Balcony backs to private woods for added Peace and Privacy. Enjoy Spacious, Generously Sized Rooms, Walk-in Closets in bedrooms and All Appliances included for Easy Move In Convenience. Community Amenities include Swimming Pool and Tennis Courts, offering Resort Style Living right at Home! A Perfect Blend of Comfort, Space and Location! Don't let this one slip by!

2. 2026-05-18
   status Pending

   Show marketing remark (483 chars)

   Welcome to Tall Timbers, Affordable Living at the Shore! Beautiful 2 Bedroom, 1 Bath Condo in Great Condition. Balcony backs to private woods for added Peace and Privacy. Enjoy Spacious, Generously Sized Rooms, Walk-in Closets in bedrooms and All Appliances included for Easy Move In Convenience. Community Amenities include Swimming Pool and Tennis Courts, offering Resort Style Living right at Home! A Perfect Blend of Comfort, Space and Location! Don't let this one slip by!

3. 2026-05-14
   status Active
4. 2026-05-13
   historical Active Under Contract
5. 2026-05-11
   listed $224,900 Active 483-char remark

   Show marketing remark (483 chars)

   Welcome to Tall Timbers, Affordable Living at the Shore! Beautiful 2 Bedroom, 1 Bath Condo in Great Condition. Balcony backs to private woods for added Peace and Privacy. Enjoy Spacious, Generously Sized Rooms, Walk-in Closets in bedrooms and All Appliances included for Easy Move In Convenience. Community Amenities include Swimming Pool and Tennis Courts, offering Resort Style Living right at Home! A Perfect Blend of Comfort, Space and Location! Don't let this one slip by!

6. 2026-05-11
   listed $224,900 Active

   Show marketing remark (483 chars)

   Welcome to Tall Timbers, Affordable Living at the Shore! Beautiful 2 Bedroom, 1 Bath Condo in Great Condition. Balcony backs to private woods for added Peace and Privacy. Enjoy Spacious, Generously Sized Rooms, Walk-in Closets in bedrooms and All Appliances included for Easy Move In Convenience. Community Amenities include Swimming Pool and Tennis Courts, offering Resort Style Living right at Home! A Perfect Blend of Comfort, Space and Location! Don't let this one slip by!

7. 2026-04-04
   historical $2,050
8. 2026-04-03
   listed $2,050
9. 2026-03-29
   historical $2,100
10. 2026-03-21
    listed $2,100
11. 1999-08-30
    soldstatus $55,500 123-char remark

    Show marketing remark (123 chars)

    IMMACULATE QUALITY CONDO-MOVE IN CONDITION-LARGE ROOMS-GREAT VIEWS-TALL TIMBERS COMPLEX-OWNER WILL HELP YOU BUY THIS DREAM!

12. 1999-06-29
    historical 123-char remark

    Show marketing remark (123 chars)

    IMMACULATE QUALITY CONDO-MOVE IN CONDITION-LARGE ROOMS-GREAT VIEWS-TALL TIMBERS COMPLEX-OWNER WILL HELP YOU BUY THIS DREAM!

13. 1999-05-22
    listed $58,000 123-char remark

    Show marketing remark (123 chars)

    IMMACULATE QUALITY CONDO-MOVE IN CONDITION-LARGE ROOMS-GREAT VIEWS-TALL TIMBERS COMPLEX-OWNER WILL HELP YOU BUY THIS DREAM!

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥99°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: $26,766
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − HOA: −$1,800
• − Depreciation: −$6,543
• Taxable loss: −$2,955
• Est. tax savings @ 24.0%: +$709
• After-tax cash flow: $1,404/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This property is in good condition with a good condition score of 75. It has a cosmetic rehab level and requires minimal repairs and maintenance. The highest-ROI updates that would raise its resale or rental value include painting interior walls, replacing carpet with hardwood flooring, and upgrading kitchen appliances.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace carpet with hardwood flooring — Hardwood flooring can increase both resale and rental value.
• Both Install smart home devices — Smart home devices can improve convenience and add value to the property.
• Both Upgrade kitchen appliances — Upgraded appliances can attract more buyers and renters.
• Both Add outdoor lighting — Outdoor lighting can enhance curb appeal and safety.
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace carpet with hardwood flooring — Hardwood flooring can increase both resale and rental value. ↑
• Both Install smart home devices — Smart home devices can improve convenience and add value to the property. ↑
• Both Upgrade kitchen appliances — Upgraded appliances can attract more buyers and renters. ↑
• Both Add outdoor lighting — Outdoor lighting can enhance curb appeal and safety. ↑
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and add value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Pinelands Regional School District
• NCES district ID: 3413000
• Math proficiency: 14% ▼ -20.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $59,396
• Composite: 26.97/100
• National rank: #7075
• State rank: #344 of 472 in NJ

Livability — Mystic Island

• Score: 62/100
• State rank: #455
• US rank: #17110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ocean County · 439,426 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,342
• Household income: $91,677
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 519.0

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.86%
• Current HPI: 340.4378
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+287.8% since first listed

13 events — show timeline

• 2026-05-18 Pending — MOMLS
• 2026-05-18 Pending — BRIGHT MLS
• 2026-05-14 Relisted — BRIGHT MLS
• 2026-05-13 Contingent — BRIGHT MLS
• 2026-05-11 Listed $224,900 BRIGHT MLS
• 2026-05-11 Listed $224,900 MOMLS
• 2026-04-04 Rental Removed $2,050 Avail
• 2026-04-03 Listed for Rent $2,050 Avail
• 2026-03-29 Rental Removed $2,100 Avail
• 2026-03-21 Listed for Rent $2,100 Avail
• 1999-08-30 Sold (MLS) $55,500 MOMLS
• 1999-06-29 Delisted — MOMLS
• 1999-05-22 Listed $58,000 MOMLS