183 Woodlake Dr · Marlton, NJ 08053

$299,999

3 bd · 2.0 ba · 1,596 sqft · Condo · 30 Days on market

Built 1987 Good condition $273/mo HOA · 9% of rent

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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 +12.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Schools +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful second floor two bedroom condo possibly three with loft and large closet! Vaulted ceiling’s newer AC system. Come check it out. Awesome unit

Key facts

• Private deck
• Community pool
• Versatile loft

Tags

• SECOND FLOOR TOWNHOME
• PRIVATE DECK
• WOOD-BURNING FIREPLACE
• VERSATILE LOFT
• COMMUNITY POOL
• SCENIC WALKING TRAILS

Property features AI

Finance

• HOA & community: Monthly condo fee $243; Annual HOA fee $365; HOA covers ground fee, exterior building maintenance, front/side/rear lawn care, lawn maintenance, management, and snow removal; Community center amenity

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Condominium unit/flat; Garden-style building (1–4 floors); Entry level: 1
• Construction: Stick-built construction; Above-grade and below-grade structures
• Exterior features: Community pool; Pets allowed with no pet restrictions; Lot dimensions reported by assessor

Interior

• Bedrooms: Two bedrooms on main level; One bedroom on upper level
• Bathrooms: Two full bathrooms on main level; Two full bathrooms total
• Heating & cooling: Forced air heating; Energy Star cooling system (electric); Natural gas hot water
• Interior features: No basement; Living area reported by assessor
• Laundry & utility: Washer/dryer hook up in unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-61 ($-727/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (3.6% below list).
• Recommended offer: $289k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.2% in Marlton — 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 74/100 on livability (#165 in NJ, #4,364 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities C-, commute F, cost of living F.
• Lenape Regional High School District (suburban): math 34% / reading 60% proficiency, ranked #136 of 472 in NJ (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richard L Rice School (math 23% / reading 49%, grade F, #572 of 1,303 statewide, top 44%, 504 students, 6% FRL); Marlton Middle (math 36% / reading 58%, grade D+, #129 of 431 statewide, top 32%, 762 students, 10% FRL); Cherokee High School (math 32% / reading 59%, grade D-, #138 of 399 statewide, top 36%, 2,179 students, 10% FRL).
• Market conditions: Rents rising (+3.0%/yr); 192 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $9k 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

• It's been on market 30 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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

• 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 $289,319 (3.6% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.04% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-52,145
• Equity at exit: $44,731

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-49,040
• Equity at exit: $25,938

Cash invested: $84,000 (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 08053

• Rents YoY: 3.0%
• Active inventory: 192
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,893 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$273
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $-61

Break-even live

Break-even rent $2,970

Max offer price $291,229

Occupancy floor 97%

Sensitivity live

Price	-10% $147	-5% $43	+0% $-61	+5% $-164	+10% $-268
Rent	-10% $-289	-5% $-175	+0% $-61	+5% $54	+10% $168
Rate	-1.0pp $90	-0.5pp $16	base $-61	+0.5pp $-138	+1.0pp $-217

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Waterview Ct Marlton, NJ	3.0	2.5	1366	$2,950	$2.16	0d	1	0.44mi
13 Five Crown Royal Marlton, NJ	3.0	2.5	1496	$2,850	$1.91	0d	1	0.59mi
771 Barton Run Blvd Marlton, NJ	3.0	2.5	2000	$3,600	$1.80	6d	1	0.60mi
60 Summit Ct Marlton, NJ	2.0	2.0	1112	$2,200	$1.98	0d	1	0.62mi
89 Dorchester Cir Marlton, NJ	3.0	2.5	1360	$2,600	$1.91	0d	1	0.71mi
67 Dorchester Cir Marlton, NJ	3.0	1.5	1132	$2,695	$2.38	0d	1	0.77mi
15 Queen Anne Ct Marlton, NJ	3.0	1.5	1697	$2,895	$1.71	0d	1	0.80mi
20 Queen Anne Ct Marlton, NJ	3.0	2.5	1756	$2,800	$1.59	7d	1	0.84mi
313 Barton Run Blvd Marlton, NJ	3.0	2.5	1827	$2,850	$1.56	16d	1	1.49mi
313 Barton Run Blvd Marlton, NJ	3.0	2.5	1873	$2,800	$1.49	0d	1	1.49mi

HOA detail condo

• Monthly dues: $273 · $3,276/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-02
   status Pending
2. 2026-04-02
   listed $299,999 Active
3. 2023-06-30
   soldstatus $280,000 Closed 156-char remark

   Show marketing remark (156 chars)

   Beautiful second floor two bedroom condo possibly three with loft and large closet! Vaulted ceiling’s newer AC system. Come check it out. Awesome unit

4. 2023-06-04
   status Pending 156-char remark

   Show marketing remark (156 chars)

   Beautiful second floor two bedroom condo possibly three with loft and large closet! Vaulted ceiling’s newer AC system. Come check it out. Awesome unit

5. 2023-05-26
   listed $264,900 Active 156-char remark

   Show marketing remark (156 chars)

   Beautiful second floor two bedroom condo possibly three with loft and large closet! Vaulted ceiling’s newer AC system. Come check it out. Awesome unit

6. 2018-11-09
   soldstatus $160,000 Closed 660-char remark

   Show marketing remark (660 chars)

   The Wait is Over! Come take a look at this newly updated Condo in desirable Woodlake at Kings Grant development. This condo has been updated with new carpet throughout, freshly painted, new kitchen counters, updated bathroom, new deck and so much more. This great Condo also futures living room with fireplace to enjoy on those cold winter nights, dining room, eat in kitchen, two nice size bedrooms, and two full baths but wait it does not stop there this condo has a bonus third floor loft with a huge walk in closet that can be used as a third bedroom, office area, additional living room or storage. Don't hesitate one more day make your appointment today!

7. 2018-09-28
   status Pending 660-char remark

   Show marketing remark (660 chars)

   The Wait is Over! Come take a look at this newly updated Condo in desirable Woodlake at Kings Grant development. This condo has been updated with new carpet throughout, freshly painted, new kitchen counters, updated bathroom, new deck and so much more. This great Condo also futures living room with fireplace to enjoy on those cold winter nights, dining room, eat in kitchen, two nice size bedrooms, and two full baths but wait it does not stop there this condo has a bonus third floor loft with a huge walk in closet that can be used as a third bedroom, office area, additional living room or storage. Don't hesitate one more day make your appointment today!

8. 2018-08-23
   price $165,000 660-char remark

   Show marketing remark (660 chars)

   The Wait is Over! Come take a look at this newly updated Condo in desirable Woodlake at Kings Grant development. This condo has been updated with new carpet throughout, freshly painted, new kitchen counters, updated bathroom, new deck and so much more. This great Condo also futures living room with fireplace to enjoy on those cold winter nights, dining room, eat in kitchen, two nice size bedrooms, and two full baths but wait it does not stop there this condo has a bonus third floor loft with a huge walk in closet that can be used as a third bedroom, office area, additional living room or storage. Don't hesitate one more day make your appointment today!

9. 2018-08-01
   status Active 660-char remark

   Show marketing remark (660 chars)

   The Wait is Over! Come take a look at this newly updated Condo in desirable Woodlake at Kings Grant development. This condo has been updated with new carpet throughout, freshly painted, new kitchen counters, updated bathroom, new deck and so much more. This great Condo also futures living room with fireplace to enjoy on those cold winter nights, dining room, eat in kitchen, two nice size bedrooms, and two full baths but wait it does not stop there this condo has a bonus third floor loft with a huge walk in closet that can be used as a third bedroom, office area, additional living room or storage. Don't hesitate one more day make your appointment today!

10. 2018-07-10
    historical 660-char remark

    Show marketing remark (660 chars)

    The Wait is Over! Come take a look at this newly updated Condo in desirable Woodlake at Kings Grant development. This condo has been updated with new carpet throughout, freshly painted, new kitchen counters, updated bathroom, new deck and so much more. This great Condo also futures living room with fireplace to enjoy on those cold winter nights, dining room, eat in kitchen, two nice size bedrooms, and two full baths but wait it does not stop there this condo has a bonus third floor loft with a huge walk in closet that can be used as a third bedroom, office area, additional living room or storage. Don't hesitate one more day make your appointment today!

11. 2018-06-30
    listed $175,000 Active 660-char remark

    Show marketing remark (660 chars)

    The Wait is Over! Come take a look at this newly updated Condo in desirable Woodlake at Kings Grant development. This condo has been updated with new carpet throughout, freshly painted, new kitchen counters, updated bathroom, new deck and so much more. This great Condo also futures living room with fireplace to enjoy on those cold winter nights, dining room, eat in kitchen, two nice size bedrooms, and two full baths but wait it does not stop there this condo has a bonus third floor loft with a huge walk in closet that can be used as a third bedroom, office area, additional living room or storage. Don't hesitate one more day make your appointment today!

12. 2001-02-24
    historical
13. 2000-08-24
    listed $105,900

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°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: $34,718
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,777
• − Management: −$2,777
• − HOA: −$3,276
• − Depreciation: −$8,727
• Taxable loss: −$5,644
• Est. tax savings @ 24.0%: +$1,355
• After-tax cash flow: $627/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 well-maintained, updated condo in Woodlake at Kings Grant offers a good condition with minimal repairs needed. It's ready for a new owner to move in and enjoy the community's amenities.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New flooring in bathrooms — Improves aesthetics and functionality
• Both New kitchen backsplash — Enhances aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New flooring in bathrooms — Improves aesthetics and functionality ↑
• Both New kitchen backsplash — Enhances aesthetics and functionality ↑

ⓘ 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: Lenape Regional High School District
• NCES district ID: 3408490
• Math proficiency: 34% ▼ -2.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $98,739
• Composite: 44.86/100
• National rank: #2724
• State rank: #136 of 472 in NJ

Livability — Marlton

• Score: 74/100
• State rank: #165
• US rank: #4364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Burlington County · 323,710 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 48,179
• Household income: $118,670
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 1512.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 8% Hispanic / Latino 6% Two or more races 6% Black 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 7% Scotch-Irish 2% Lithuanian 1%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 90% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 2%

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: ▼ -363.01%
• Current HPI: 311.8655
• Rent YoY: ▲ 3.04%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+183.3% since first listed

13 events — show timeline

• 2026-05-02 Pending — BRIGHT MLS
• 2026-04-02 Listed $299,999 BRIGHT MLS
• 2023-06-30 Sold (MLS) $280,000 BRIGHT MLS
• 2023-06-04 Pending — BRIGHT MLS
• 2023-05-26 Listed $264,900 BRIGHT MLS
• 2018-11-09 Sold (MLS) $160,000 BRIGHT MLS
• 2018-09-28 Pending — BRIGHT MLS
• 2018-08-23 Price Changed $165,000 BRIGHT MLS
• 2018-08-01 Relisted — BRIGHT MLS
• 2018-07-10 Listing Removed — BRIGHT MLS
• 2018-06-30 Listed $175,000 BRIGHT MLS
• 2001-02-24 Listing Removed — BRIGHT MLS
• 2000-08-24 Listed $105,900 BRIGHT MLS