13 Truman Pl · Millville, NJ 08332

$50,000

2 bd · 2.0 ba · 1,080 sqft · SingleFamily · 41 Days on market

Built 2004 Poor condition $615/mo HOA · 40% of rent

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Schools +1.5/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect opportunity to get into affordable housing in Holly Village. 2 bedroom, 2 full bathroom house. Spacious kitchen and living areas and large primary bedroom with primary en-suite bathroom with tub and shower. Easy updates will provide great equity here! House needs TLC. Being sold “as-is. ” Buyers must submit application to Holly Village and be approved prior to purchase.

Key facts

• Built 2004
• Listed 41 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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; 2 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.10% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.70%
• DSCR: 2.01
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $203,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Jfk Blvd	0.24mi	2/2.0	1,100 (+2%)	12mo	$93,000	$85	75
375 Peek Ave	0.47mi	3/2.0 (+1)	1,071 (-1%)	5mo	$222,000	$207	67
14 Eisenhower Blvd	0.17mi	2/2.0	980 (-9%)	15mo	$95,000	$97	64
31 Jfk Blvd	0.20mi	2/2.0	1,152 (+7%)	19mo	$85,000	$74	63
41 Jfk Blvd	0.17mi	2/2.0	1,200 (+11%)	17mo	$87,000	$73	59
19 Garfield St	0.37mi	2/1.0	1,179 (+9%)	15mo	$190,000	$161	51
833 2nd St S	0.54mi	2/1.5	1,224 (+13%)	9mo	$230,000	$188	43
200 5th St S	0.71mi	2/1.0	1,009 (-7%)	13mo	$199,900	$198	41
638 S 3rd St	0.48mi	3/1.0 (+1)	1,162 (+8%)	18mo	$228,900	$197	41
309 Stratton Ave	0.70mi	2/1.0	1,233 (+14%)	0mo	$255,000	$207	40
815 S 2nd St	0.51mi	3/1.0 (+1)	1,230 (+14%)	8mo	$226,000	$184	38
839 S 2nd St	0.54mi	2/1.0	938 (-13%)	16mo	$205,000	$219	36

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: $7,532
• Equity at exit: $7,455

10-year hold

• IRR: 21.3%
• Equity multiple: 2.67×
• Total profit: $23,336
• Equity at exit: $4,323

Cash invested: $14,000 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,551 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$615
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $265

Break-even live

Break-even rent $1,216

Max offer price $50,000

Occupancy floor 78%

Sensitivity live

Price	-10% $299	-5% $282	+0% $265	+5% $248	+10% $230
Rent	-10% $142	-5% $204	+0% $265	+5% $326	+10% $387
Rate	-1.0pp $290	-0.5pp $278	base $265	+0.5pp $252	+1.0pp $239

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	44d	1	0.75mi
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	44d	1	0.83mi

HOA detail

• Monthly dues: $615 · $7,380/yr

Listing history 3 events

1. 2026-04-15
   listed $50,000 Active 392-char remark

   Show marketing remark (392 chars)

   Perfect opportunity to get into affordable housing in Holly Village. 2 bedroom, 2 full bathroom house. Spacious kitchen and living areas and large primary bedroom with primary en-suite bathroom with tub and shower. Easy updates will provide great equity here! House needs TLC. Being sold “as-is. ” Buyers must submit application to Holly Village and be approved prior to purchase.

2. 2014-12-01
   soldstatus $48,000 352-char remark

   Show marketing remark (352 chars)

   Nicely maintained 2 bdrm, 2 bth in quiet area. Lot rent is $493/month. Must have Park approval. Garden tub, fenced in huge yard, shed, central air, ceiling fans included. View of the Maurice River. Dead End St. Must see!THIS IS A CREAM PUFF MOVE IN READY also included sofa and love seat, 2end tables, dining table with seeting up to 6 chairs included.

3. 2014-05-06
   listed $48,000 352-char remark

   Show marketing remark (352 chars)

   Nicely maintained 2 bdrm, 2 bth in quiet area. Lot rent is $493/month. Must have Park approval. Garden tub, fenced in huge yard, shed, central air, ceiling fans included. View of the Maurice River. Dead End St. Must see!THIS IS A CREAM PUFF MOVE IN READY also included sofa and love seat, 2end tables, dining table with seeting up to 6 chairs included.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,614
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − HOA: −$7,380
• − Depreciation: −$1,455
• Taxable income: $3,000
• Est. tax owed @ 24.0%: −$720
• After-tax cash flow: $2,458/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates, including major work on the exterior, interior, HVAC, and landscaping. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No photos of roof
• Major interior walls/paint — No photos of interior walls/paint
• Major HVAC/mechanicals — No photos of HVAC/mechanicals
• Major landscaping — Overgrown yard

Value-add opportunities

• Both landscaping and curb appeal — Improves curb appeal and can attract more buyers
• Both HVAC and electrical upgrades — Improves comfort and energy efficiency
• Both painting and interior updates — Enhances interior aesthetics and can attract more buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No photos of roof	Major	$15,000–50,000
interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
landscaping · Overgrown yard	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both landscaping and curb appeal — Improves curb appeal and can attract more buyers ↑
• Both HVAC and electrical upgrades — Improves comfort and energy efficiency ↑
• Both painting and interior updates — Enhances interior aesthetics and can attract more buyers ↑

ⓘ 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: 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

+4.2% since first listed

3 events — show timeline

• 2026-04-15 Listed $50,000 BRIGHT MLS
• 2014-12-01 Sold (MLS) $48,000 BRIGHT MLS
• 2014-05-06 Listed $48,000 BRIGHT MLS