904 Bobwood Ave · Gloucester City, NJ 08030

$79,900

2 bd · 2.0 ba · 780 sqft · SingleFamily · 131 Days on market

Built 1970 500 sqft lot ↓ 11% since listing

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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 +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Larger two bedroom with open floor plan Newer Kitchen and Bath lots of upgrades

Key facts

• Built 1970
• Listed 130 days

Property features AI

Finance

• HOA & community: Monthly land lease of $743

Exterior

• Parking: Alley access
• Utilities: Public water; Private sewer; Electric available; Electric hot water
• Home design: Manufactured home; Land lease ownership (land lease remains 99 years)
• Construction: Aluminum siding; Above-grade other structures; Estimated year built
• Exterior features: No basement; Tidal water not present

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Propane (owned) heating fuel; Wall unit cooling (electric)
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $921 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 5.5% in Gloucester City — 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 72/100 on livability (#215 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: amenities F, commute F.
• Gloucester City Public School District (suburban): math 11% / reading 34% proficiency, ranked #413 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 92 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/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 $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 39% 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 $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.33% ✓
• Cap rate: 20.12%
• Cash-on-cash: 49.39%
• DSCR: 3.20
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $228,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
94 Fernwood Ave	0.10mi	2/1.0	800 (+3%)	14mo	$36,000	$45	75
1018 W Browning Rd	0.40mi	2/1.0	735 (-6%)	0mo	$231,500	$315	67
38 Sartori Ave	0.38mi	2/1.0	824 (+6%)	7mo	$250,000	$303	63
187 Gehrig Ave	0.35mi	3/1.5 (+1)	854 (+10%)	0mo	$245,000	$287	61
139 Gehrig Ave	0.38mi	3/1.0 (+1)	816 (+5%)	6mo	$235,000	$288	60
3 S Harley Ave	0.61mi	3/1.5 (+1)	768 (-2%)	3mo	$225,000	$293	59
121 Roosevelt Ave	0.73mi	2/1.0	757 (-3%)	10mo	$258,000	$341	49
109 Princeton Ave	0.68mi	2/1.0	816 (+5%)	10mo	$235,000	$288	48
205 Warren Ave	0.71mi	2/1.0	840 (+8%)	3mo	$273,321	$325	48
921 Ridgeway St	0.74mi	2/2.0	856 (+10%)	5mo	$235,000	$275	45
805 Station Ave	0.73mi	2/1.0	818 (+5%)	19mo	$207,500	$254	38
37 Sartori Ave	0.35mi	3/1.0 (+1)	672 (-14%)	18mo	$235,000	$350	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.0%
• Equity multiple: 3.04×
• Total profit: $45,730
• Equity at exit: $11,913

10-year hold

• IRR: 52.8%
• Equity multiple: 6.16×
• Total profit: $115,456
• Equity at exit: $6,908

Cash invested: $22,372 (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 08030

• Home prices YoY: -27.9%
• Active inventory: 92
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $921

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 46%

Sensitivity live

Price	-10% $976	-5% $948	+0% $921	+5% $893	+10% $866
Rent	-10% $774	-5% $847	+0% $921	+5% $994	+10% $1,068
Rate	-1.0pp $961	-0.5pp $941	base $921	+0.5pp $900	+1.0pp $879

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Princeton Ave Bellmawr, NJ	2.0	1.0	720	$2,000	$2.78	0d	1	0.61mi
5 Meadow Ln Gloucester City, NJ	1.0–2.0	1.0–2.0	833	$2,385	$2.86	25d	8	0.68mi
917 Koehler St Gloucester City, NJ	3.0	1.0	916	$1,800	$1.97	19d	1	0.77mi
108 New Broadway Unit 120 Brooklawn, NJ	2.0	1.0	800	$1,800	$2.25	25d	1	0.79mi
227 S Broadway Gloucester City, NJ	3.0	1.0	1123	$1,775	$1.58	25d	1	0.96mi
430 W Browning Rd Bellmawr, NJ	1.0–2.0	1.0	773	$1,915	$2.48	0d	16	1.10mi
604 Hunter St Gloucester City, NJ	3.0	1.0	1066	$1,900	$1.78	5d	1	1.10mi
928 Creek Rd Bellmawr, NJ	2.0	1.0	1100	$1,550	$1.41	5d	1	1.11mi
13 S Black Horse Pike Unit 1B Haddon Heights, NJ	2.0	1.0	1000	$1,795	$1.79	18d	1	1.24mi
279 S Black Horse Pike Mount Ephraim, NJ	1.0	1.0	625	$1,350	$2.16	6d	1	1.35mi
334 Middlesex St Gloucester City, NJ	3.0	1.0	896	$1,800	$2.01	25d	1	1.38mi
107 E Kings Hwy Unit 2ND FLOOR Mt Ephraim, NJ	2.0	1.0	900	$1,800	$2.00	25d	1	1.38mi
408 Broadway Westville, NJ	2.0	1.0	750	$1,375	$1.83	0d	1	1.48mi
3136 Tuckahoe Rd Camden, NJ	2.0	1.0	800	$1,350	$1.69	25d	1	1.49mi
115 Rose Ave Bellmawr, NJ	3.0	1.0	768	$2,200	$2.86	6d	1	1.49mi
1021 Monitor Rd Camden, NJ	3.0	1.0	1012	$1,710	$1.69	25d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $79,900 Active 131 DOM
2. 2026-06-18
   days on market $79,900 Active 128 DOM
3. 2026-06-17
   days on market $79,900 Active 127 DOM
4. 2026-06-16
   days on market $79,900 Active 126 DOM
5. 2026-06-15
   days on market $79,900 Active 125 DOM
6. 2026-06-13
   days on market $79,900 Active 123 DOM
7. 2026-06-09
   days on market $79,900 Active 119 DOM
8. 2026-06-08
   days on market $79,900 Active 118 DOM
9. 2026-06-07
   days on market $79,900 Active 117 DOM
10. 2026-06-04
    days on market $79,900 Active 114 DOM
11. 2026-06-03
    days on market $79,900 Active 113 DOM
12. 2026-06-02
    days on market $79,900 Active 112 DOM
13. 2026-06-01
    days on market $79,900 Active 111 DOM
14. 2026-05-31
    days on market $79,900 Active 110 DOM
15. 2026-05-07
    price $79,900
16. 2026-02-11
    listed $90,000 Active
17. 2026-02-06
    historical $90,000

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,375
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$2,324
• Taxable income: $10,397
• Est. tax owed @ 24.0%: −$2,495
• After-tax cash flow: $8,555/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: Gloucester City Public School District
• NCES district ID: 3406000
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 34% ▼ -15.00%
• Median HH income: $51,231
• Composite: 20.01/100
• National rank: #8664
• State rank: #413 of 472 in NJ

Livability — Gloucester City

• Score: 72/100
• State rank: #215
• US rank: #5984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloucester City, NJ
• County: Camden County · 407,624 people
• City population: 13,217
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,217
• Household income: $63,384
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 431.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Black 7% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 13% Other Indo-European 4% Arabic 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.59%
• Current HPI: 298.9139
• Rent YoY: —
• 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

-11.2% since first listed

3 events — show timeline

• 2026-05-07 Price Changed $79,900 BRIGHT MLS
• 2026-02-11 Listed $90,000 BRIGHT MLS
• 2026-02-06 Coming Soon $90,000 BRIGHT MLS