320 Fenwick Rd · Woodstown, NJ 08098

$269,000

3 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 169 Days on market

Built 1974 0.45 ac lot $266/sqft · 6% below area Est $288k · 6% under

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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).

• ARV discount +10.4/15.0
• Appreciation +10.0/10.0
• Cash flow +6.4/30.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0

Listing remarks MLS

Interior Updated. 3 bedrooms 1 bath. Large family room with vaulted ceiling. Hard wood floors. New Hot water heater. New heating. NJ Wealth Conservation Act participant property which has income limits for owner occupant and investor buyers. Standard transaction with buyer income limits.

Key facts

• 0.45 acre lot
• 3 parking spots
• Built 1974

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-471 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (30.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (33.7% below list).
• Recommended offer: $178k (33.7% below list) — sets the bar for 1% rule.
• Cap rate 4.2% vs local median 2.3% in Woodstown — 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 69/100 on livability (#298 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Woodstown-Pilesgrove Regional School District (town): math 23% / reading 48% proficiency, ranked #259 of 472 in NJ (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $269k implies a 308% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $178,376 (33.7% 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. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.66% ✗
• Cap rate: 4.19%
• Cash-on-cash: -7.50%
• DSCR: 0.67
• GRM: 12.6

CMA / ARV

• ARV (median comp): $287,689
• List price: $269,000
• Delta: -6.50%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 E Lake Rd	0.25mi	3/1.0	1,051 (+4%)	19mo	$832,000	$792	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 2.55×
• Total profit: $116,565
• Equity at exit: $242,337

10-year hold

• IRR: 17.6%
• Equity multiple: 5.87×
• Total profit: $366,920
• Equity at exit: $522,608

Cash invested: $75,320 (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 08098

• Home prices YoY: 3.7%
• Active inventory: 63
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$357 /mo · $4,285/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $-471

Break-even live

Break-even rent $2,380

Max offer price $185,849

Occupancy floor —

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $269,000 Active 169 DOM
2. 2026-06-17
   days on market $269,000 Active 168 DOM
3. 2026-06-16
   days on market $269,000 Active 167 DOM
4. 2026-06-15
   days on market $269,000 Active 166 DOM
5. 2026-06-13
   days on market $269,000 Active 164 DOM
6. 2026-06-09
   days on market $269,000 Active 160 DOM
7. 2026-06-08
   days on market $269,000 Active 159 DOM
8. 2026-06-07
   days on market $269,000 Active 158 DOM
9. 2026-06-04
   days on market $269,000 Active 155 DOM
10. 2026-06-03
    days on market $269,000 Active 154 DOM
11. 2026-06-02
    days on market $269,000 Active 153 DOM
12. 2026-06-01
    days on market $269,000 Active 152 DOM
13. 2026-05-31
    days on market $269,000 Active 151 DOM
14. 2026-01-31
    price $269,000 288-char remark

    Show marketing remark (288 chars)

    Interior Updated. 3 bedrooms 1 bath. Large family room with vaulted ceiling. Hard wood floors. New Hot water heater. New heating. NJ Wealth Conservation Act participant property which has income limits for owner occupant and investor buyers. Standard transaction with buyer income limits.

15. 2026-01-02
    status Active 288-char remark

    Show marketing remark (288 chars)

    Interior Updated. 3 bedrooms 1 bath. Large family room with vaulted ceiling. Hard wood floors. New Hot water heater. New heating. NJ Wealth Conservation Act participant property which has income limits for owner occupant and investor buyers. Standard transaction with buyer income limits.

16. 2025-10-31
    historical 288-char remark

    Show marketing remark (288 chars)

    Interior Updated. 3 bedrooms 1 bath. Large family room with vaulted ceiling. Hard wood floors. New Hot water heater. New heating. NJ Wealth Conservation Act participant property which has income limits for owner occupant and investor buyers. Standard transaction with buyer income limits.

17. 2025-10-31
    listed $299,000 Active 288-char remark

    Show marketing remark (288 chars)

    Interior Updated. 3 bedrooms 1 bath. Large family room with vaulted ceiling. Hard wood floors. New Hot water heater. New heating. NJ Wealth Conservation Act participant property which has income limits for owner occupant and investor buyers. Standard transaction with buyer income limits.

18. 2025-10-09
    historical $299,000 288-char remark

    Show marketing remark (288 chars)

    Interior Updated. 3 bedrooms 1 bath. Large family room with vaulted ceiling. Hard wood floors. New Hot water heater. New heating. NJ Wealth Conservation Act participant property which has income limits for owner occupant and investor buyers. Standard transaction with buyer income limits.

19. 1989-12-08
    soldstatus $65,900

ⓘ 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: $4,285 · $357/mo
• Projected year-2 tax: $5,492 · $458/mo
• Expected delta: +$1,206/yr (+$101/mo · 28.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,405
• − Mortgage interest: −$15,068
• − Property taxes: −$4,285
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$7,825
• Taxable loss: −$10,544
• Est. tax savings @ 24.0%: +$2,531
• After-tax cash flow: $-3,118/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: Woodstown-Pilesgrove Regional School District
• NCES district ID: 3418330
• Math proficiency: 23% ▼ -25.00%
• Reading proficiency: 48% ▼ -18.00%
• Median HH income: $76,323
• Composite: 33.18/100
• National rank: #5539
• State rank: #259 of 472 in NJ

Livability — Woodstown

• Score: 69/100
• State rank: #298
• US rank: #8999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,475
• Population (ZIP): 9,475

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 8% Black 8%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4%
• Common ancestry: Romanian 4% Iranian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.27%
• Current HPI: 290.7359
• Rent YoY: —
• Metro: —
• 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

+308.2% since first listed

6 events — show timeline

• 2026-01-31 Price Changed $269,000 BRIGHT MLS
• 2026-01-02 Relisted — BRIGHT MLS
• 2025-10-31 Listing Removed — BRIGHT MLS
• 2025-10-31 Listed $299,000 BRIGHT MLS
• 2025-10-09 Coming Soon $299,000 BRIGHT MLS
• 1989-12-08 Sold (Public Records) $65,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $4,285 · +2.5% YoY. Source: county tax records.