505 S 2nd St S · Millville, NJ 08332

$132,000

3 bd · 2.0 ba · 1,346 sqft · SingleFamily public records · 11 Days on market

Built 1887 0.26 ac lot

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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 +26.5/30.0
• DSCR +9.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Priced nicely. And ready to see; appointments are now being taken! * * Offers will be reviewed Sunday, May 24. * * 3-bedroom, 1-bath home with backyard view of Elementary School. Street-to-street lot with off-street private driveway parking. Gas heat. Public water. Public sewer. Storage shed with electric. Walk-up attic with unheated bonus room. Central air conditioning needs new condenser. Potential to add half bathroom in 2nd floor bedroom. Clothes washer hook-up in kitchen. Clothes dryer hook-up in basement. Off-street parking. Home will be transferred in its "as-is" condition. Buyer will be responsible for any certificates required to close.

Key facts

• Street-to-street lot
• Walk-up attic
• Unheated bonus room

Tags

• STREET-TO-STREET LOT
• STORAGE SHED WITH ELECTRIC
• WALK-UP ATTIC
• UNHEATED BONUS ROOM
• CLOTHES WASHER HOOK-UP
• CLOTHES DRYER HOOK-UP

Property features AI

Finance

• Other: Ownership is fee simple; Finished above-grade area reported (assessor)

Exterior

• Parking: Driveway with space for 5 vehicles; Off-street parking for 5 vehicles (total garage/parking spaces listed as 5)
• Utilities: Public water; Public sewer; Natural gas heating and hot water
• Home design: Detached single-family home; Frame construction
• Construction: Frame construction; Stone foundation; Above-grade and below-grade structures
• Exterior features: Lot dimensions approximately 44 x 261; Road frontage about 44 feet

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Unfinished basement with interior access; Refrigerator; Stove
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Cap rate 9.5% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• This rent runs 30% of the median local income ($67k/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 $913 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 15 sale attempts since 13y 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 $24k; list at $132k implies a 443% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — 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 $132,000

Questions for the listing agent

1. Built in 1887 — 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. 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?
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: 1.29% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $289,390
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 Magnolia Ave	0.30mi	3/1.0	1,397 (+4%)	3mo	$299,900	$215	73
207 S 9th St	0.49mi	3/2.5	1,384 (+3%)	0mo	$335,000	$242	70
3 Madison Pl	0.38mi	3/2.0	1,280 (-5%)	7mo	$168,000	$131	68
309 S 2nd St	0.37mi	3/1.0	1,406 (+4%)	8mo	$190,000	$135	65
16 N 5th St N	0.63mi	3/1.0	1,312 (-2%)	5mo	$125,000	$95	58
917 Louis Dr	0.46mi	3/1.0	1,216 (-10%)	2mo	$280,000	$230	57
909 Shar Lane Blvd	0.54mi	3/1.0	1,216 (-10%)	2mo	$218,000	$179	53
1015 Louis Dr	0.51mi	3/2.0	1,200 (-11%)	7mo	$295,000	$246	52
510 Henry Dr	0.66mi	4/2.5 (+1)	1,416 (+5%)	4mo	$334,999	$237	50
1121 Robin Ter	0.69mi	3/2.0	1,200 (-11%)	2mo	$290,000	$242	48
6 N 10th St	0.71mi	3/1.0	1,221 (-9%)	6mo	$255,000	$209	42
502 E Main St	0.60mi	2/1.0 (-1)	1,160 (-14%)	2mo	$129,000	$111	38

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-945
• Equity at exit: $19,682

10-year hold

• IRR: 7.8%
• Equity multiple: 1.56×
• Total profit: $20,808
• Equity at exit: $11,413

Cash invested: $36,960 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,708 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$254 /mo · $3,046/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $348

Break-even live

Break-even rent $1,267

Max offer price $132,000

Occupancy floor 75%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 W Main St Unit B Millville, NJ	3.0	1.0	1384	$1,500	$1.08	43d	1	0.83mi
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	43d	1	0.99mi
301 N Wade Blvd Millville, NJ	1.0–2.0	1.0	1005	$1,715	$1.71	13d	10	1.16mi

Listing history 50 events

1. 2026-05-18
   listed $132,000 Active 667-char remark
2. 2026-05-16
   listed $132,000 Active 667-char remark

   Show marketing remark (667 chars)

   Priced nicely. And ready to see; appointments are now being taken! * * Offers will be reviewed Sunday, May 24. * * 3-bedroom, 1-bath home with backyard view of Elementary School. Street-to-street lot with off-street private driveway parking. Gas heat. Public water. Public sewer. Storage shed with electric. Walk-up attic with unheated bonus room. Central air conditioning needs new condenser. Potential to add half bathroom in 2nd floor bedroom. Clothes washer hook-up in kitchen. Clothes dryer hook-up in basement. Off-street parking. Home will be transferred in its "as-is" condition. Buyer will be responsible for any certificates required to close.

3. 2016-05-31
   soldstatus $24,300 Sold

   Show marketing remark (370 chars)

   Wow What a deal we have for you here!! Three bedrooms, one and a half bathrooms, full basement, fenced corner lot. At this price you can not go wrong, come take a look and let's make a deal!! Sold strictly as is with any inspections,certifications and or repairs needed to close this property the sole responsibility of the buyer including the certificate of occupancy.

4. 2016-05-31
   soldstatus $24,300

   Show marketing remark (370 chars)

   Wow What a deal we have for you here!! Three bedrooms, one and a half bathrooms, full basement, fenced corner lot. At this price you can not go wrong, come take a look and let's make a deal!! Sold strictly as is with any inspections,certifications and or repairs needed to close this property the sole responsibility of the buyer including the certificate of occupancy.

5. 2016-05-18
   status Under Contract

   Show marketing remark (370 chars)

   Wow What a deal we have for you here!! Three bedrooms, one and a half bathrooms, full basement, fenced corner lot. At this price you can not go wrong, come take a look and let's make a deal!! Sold strictly as is with any inspections,certifications and or repairs needed to close this property the sole responsibility of the buyer including the certificate of occupancy.

6. 2016-03-02
   listed $17,900 Active

   Show marketing remark (370 chars)

   Wow What a deal we have for you here!! Three bedrooms, one and a half bathrooms, full basement, fenced corner lot. At this price you can not go wrong, come take a look and let's make a deal!! Sold strictly as is with any inspections,certifications and or repairs needed to close this property the sole responsibility of the buyer including the certificate of occupancy.

7. 2016-03-01
   listed $17,900
8. 2016-02-19
   soldstatus $11,000 Sold
9. 2016-02-19
   soldstatus $11,000
10. 2016-01-28
    status Under Contract
11. 2016-01-13
    historical
12. 2016-01-12
    price $18,500
13. 2015-12-17
    historical
14. 2015-12-03
    listed $20,000 Active
15. 2015-12-01
    listed $18,500
16. 2015-11-26
    price $20,000
17. 2015-11-26
    price $22,500
18. 2015-11-14
    price $22,500
19. 2015-10-22
    price $25,000
20. 2015-10-03
    price $27,500
21. 2015-09-21
    status Active - Extended
22. 2015-09-21
    historical
23. 2015-09-04
    price $29,900
24. 2015-08-26
    price $34,900
25. 2015-08-20
    price $36,000
26. 2015-08-08
    price $49,900
27. 2015-07-24
    listed $51,900 Active
28. 2015-07-18
    historical
29. 2015-07-11
    price $51,900
30. 2015-07-11
    price $51,900
31. 2015-07-06
    listed $54,900 Active
32. 2015-06-27
    historical
33. 2015-05-28
    price $54,900
34. 2015-05-28
    price $54,900
35. 2015-05-07
    price $57,000
36. 2015-04-28
    price $59,900
37. 2015-04-28
    price $59,900
38. 2015-04-08
    price $61,500
39. 2015-04-08
    price $61,500
40. 2015-03-28
    listed $62,900 Active
41. 2014-11-01
    historical
42. 2014-10-31
    historical
43. 2014-08-01
    listed $84,000
44. 2014-07-30
    historical
45. 2013-11-13
    listed $85,899
46. 2013-11-08
    historical
47. 2013-11-07
    historical
48. 2013-08-01
    listed $84,000 Active
49. 2013-05-07
    listed $109,900
50. 2013-05-07
    listed $114,000

ⓘ 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: $3,046 · $254/mo
• Projected year-2 tax: $3,166 · $264/mo
• Expected delta: +$120/yr (+$10/mo · 4.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥103°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: $20,493
• − Mortgage interest: −$7,394
• − Property taxes: −$3,046
• − Insurance: −$660
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$3,840
• Taxable income: $2,274
• Est. tax owed @ 24.0%: −$546
• After-tax cash flow: $3,631/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

+20.1% since first listed

52 events — show timeline

• 2026-05-30 Contingent — SJSRMLS
• 2026-05-30 Pending — BRIGHT MLS
• 2026-05-18 Listed $132,000 BRIGHT MLS
• 2026-05-16 Listed $132,000 SJSRMLS
• 2016-05-31 Sold (MLS) $24,300 BRIGHT MLS
• 2016-05-31 Sold (MLS) $24,300 TREND
• 2016-05-18 Pending — TREND
• 2016-03-02 Listed $17,900 TREND
• 2016-03-01 Listed $17,900 BRIGHT MLS
• 2016-02-19 Sold (MLS) $11,000 TREND
• 2016-02-19 Sold (MLS) $11,000 BRIGHT MLS
• 2016-01-28 Pending — TREND
• 2016-01-13 Listing Removed — BRIGHT MLS
• 2016-01-12 Price Changed $18,500 TREND
• 2015-12-17 Listing Removed — SJSRMLS
• 2015-12-03 Listed $20,000 TREND
• 2015-12-01 Listed $18,500 BRIGHT MLS
• 2015-11-26 Price Changed $22,500 SJSRMLS
• 2015-11-26 Price Changed $20,000 SJSRMLS
• 2015-11-14 Price Changed $22,500 SJSRMLS
• 2015-10-22 Price Changed $25,000 SJSRMLS
• 2015-10-03 Price Changed $27,500 SJSRMLS
• 2015-09-21 Relisted — SJSRMLS
• 2015-09-21 Listing Removed — SJSRMLS
• 2015-09-04 Price Changed $29,900 SJSRMLS
• 2015-08-26 Price Changed $34,900 SJSRMLS
• 2015-08-20 Price Changed $36,000 SJSRMLS
• 2015-08-08 Price Changed $49,900 SJSRMLS
• 2015-07-24 Listed $51,900 SJSRMLS
• 2015-07-18 Listing Removed — SJSRMLS
• 2015-07-11 Price Changed $51,900 CMCMLS
• 2015-07-11 Price Changed $51,900 SJSRMLS
• 2015-07-06 Listed $54,900 SJSRMLS
• 2015-06-27 Listing Removed — SJSRMLS
• 2015-05-28 Price Changed $54,900 CMCMLS
• 2015-05-28 Price Changed $54,900 SJSRMLS
• 2015-05-07 Price Changed $57,000 SJSRMLS
• 2015-04-28 Price Changed $59,900 CMCMLS
• 2015-04-28 Price Changed $59,900 SJSRMLS
• 2015-04-08 Price Changed $61,500 CMCMLS
• 2015-04-08 Price Changed $61,500 SJSRMLS
• 2015-03-28 Listed $62,900 SJSRMLS
• 2014-11-01 Listing Removed — SJSRMLS
• 2014-10-31 Listing Removed — BRIGHT MLS
• 2014-08-01 Listed $84,000 BRIGHT MLS
• 2014-07-30 Listing Removed — BRIGHT MLS
• 2013-11-13 Listed $85,899 BRIGHT MLS
• 2013-11-08 Listing Removed — SJSRMLS
• 2013-11-07 Listing Removed — BRIGHT MLS
• 2013-08-01 Listed $84,000 SJSRMLS
• 2013-05-07 Listed $114,000 BRIGHT MLS
• 2013-05-07 Listed $109,900 SJSRMLS

Property tax history

+0.0%/yr

Latest (2025): $3,046 · +3.3% YoY. Source: county tax records.