205 Bergen Tpke Unit 2A

Ridgefield Park, NJ 07660

$209,900F

2 bd · 1.0 ba · — sqft · Built — · Condo · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,363/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$776
• HOA: −$1,300
• Vac / Maint / Mgmt: −$496
• Net cashflow: $-1,310/mo
• Annual: $-15,721/yr
• Cap rate: 1.24%
• Cash-on-cash: -18.04%
• DSCR: 0.20
• 1% rule: 1.13%
• Cash to close: $58,772

Investor read

• This is a 2-bed/1.0-bath condo listed at $210k. Condition is rated good.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $20k (90.3% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• It's been on market 45 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (90.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#72 in NJ, #1,762 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D-, cost of living F.
• Ridgefield Park School District (suburban): math 18% / reading 39% proficiency, ranked #348 of 472 in NJ (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $427/mo; HOA is 55% of rent.
• Market conditions: 29 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,488 units permitted in Bergen County in 2024 (1,610 in 5+ unit buildings).
• Bergen County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask is 9441% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 90% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?