65 Forest Dr · Pennsville, NJ 08070

$134,400

2 bd · 2.0 ba · 900 sqft · SingleFamily · 6 Days on market

Built 2026 Est $135k · at est.

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Why this score? — see what drove the C+ 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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.7/15.0
• 1% rule +7.4/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lot 65 Forest Drive in 0ver 55+ community, enclosed porch, spacious family room addition, newer carport, concrete driveway. All double hung windows (approximately 10 years old), central air (3 years old), oil h/a heat. Current Lot rent is $379/month.

Key facts

• Plenty of storage
• Open-concept kitchen
• Built-in shelving

Tags

• NEWLY CONCRETE DRIVEWAY
• OPEN-CONCEPT KITCHEN
• BUILT-IN SHELVING
• AMPLE COUNTERTOP SPACE
• PLENTY OF STORAGE
• EASY-TO-CLEAN VINYL FLOORS

Property features AI

Finance

• Financial info: Annual ground rent (income/expense item)
• HOA & community: Senior community with 55+ age requirement

Exterior

• Parking: Concrete driveway; Driveway parking with space for 1 vehicle; Total of 1 garage/parking space
• Utilities: Public water; Public sewer; Circuit breaker electric; Municipal trash service
• Home design: Manufactured single-wide home; Estimated year built; Pitched shingle roof; Above-grade living space
• Construction: Vinyl siding; Construction completed; Made by Redman; Dimensions approximately 14 ft by 60 ft
• Exterior features: Street lights; Level lot; Ground rent exists (paid annually)

Interior

• Kitchen: Built-in range; Built-in microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate plank flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Natural gas heating fuel; Electric hot water
• Interior features: Eat-in kitchen; Storm door(s)
• Laundry & utility: Main-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Cap rate 9.8% vs local median 3.6% in Pennsville — 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 (#225 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F, commute F.
• Pennsville Public School District (suburban): math 12% / reading 45% proficiency, ranked #356 of 472 in NJ (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pennsville Memorial High School (math 17% / reading 42%, grade F, #290 of 399 statewide, top 74%, 462 students, 29% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: 84 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $929 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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.
• Current owner paid $20k; list at $134k implies a 572% gain — meaningful room to come down on a strong offer.

Recommended offer $134,400

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.24% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.40%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $135,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
86 Mobile Dr	0.05mi	2/2.0	900 (0%)	15mo	$135,000	$150	85
50 Pennington Dr	0.27mi	2/2.0	900 (0%)	11mo	$135,500	$151	78
59 Forest Dr	0.21mi	2/2.0	800 (-11%)	0mo	$105,000	$131	72
239 Pin Oak	0.22mi	2/1.0	800 (-11%)	1mo	$45,000	$56	66
45 Pennington Dr	0.20mi	2/2.0	1,000 (+11%)	10mo	$146,500	$147	64
1 Victory Ave #55	0.38mi	2/1.0	960 (+7%)	7mo	$45,600	$48	61
11 Leap Ct	0.27mi	3/1.5 (+1)	1,008 (+12%)	0mo	$245,000	$243	60
226 Pin Oak Dr	0.19mi	2/1.0	800 (-11%)	11mo	$49,000	$61	59
4 Dunlap Ave	0.42mi	3/2.0 (+1)	952 (+6%)	8mo	$215,509	$226	59
35 Pennington Dr	0.30mi	2/2.0	800 (-11%)	19mo	$120,000	$150	52
12 Dennis Dr	0.29mi	2/1.0	800 (-11%)	20mo	$85,000	$106	47
280 N Broadway	0.68mi	2/1.0	833 (-7%)	14mo	$209,000	$251	40

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,023
• Equity at exit: $20,039

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $34,637
• Equity at exit: $11,620

Cash invested: $37,632 (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 08070

• Home prices YoY: -23.7%
• Active inventory: 84
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$705
• Tax est. 1.5%: −$168 /mo · $2,016/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $389

Break-even live

Break-even rent $1,176

Max offer price $134,400

Occupancy floor 72%

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: $33,600
• Closing costs: $4,032
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $134,400 Active 6 DOM
2. 2026-06-17
   days on market $134,400 Active 5 DOM
3. 2026-06-16
   days on market $134,400 Active 4 DOM
4. 2026-06-15
   days on market $134,400 Active 3 DOM
5. 2026-06-13
   remarks 693-char remark
6. 2026-06-13
   listed $134,400 Active 1 DOM

ⓘ 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: $20,017
• − Mortgage interest: −$7,528
• − Property taxes: −$2,016
• − Insurance: −$672
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$3,910
• Taxable income: $2,688
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $4,023/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: Pennsville Public School District
• NCES district ID: 3409120
• Math proficiency: 12% ▼ -26.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $58,237
• Composite: 25.61/100
• National rank: #7411
• State rank: #356 of 472 in NJ

Livability — Pennsville

• Score: 72/100
• State rank: #225
• US rank: #6134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pennsville, NJ
• City population: 12,766
• Population (ZIP): 12,477

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Other Indo-European 4% Spanish 2%

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: ▼ -85.34%
• Current HPI: 275.2185
• 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

+510.9% since first listed

4 events — show timeline

• 2026-06-13 Listed $134,400 BRIGHT MLS
• 2013-10-31 Sold (MLS) $20,000 BRIGHT MLS
• 2013-10-01 Listing Removed — BRIGHT MLS
• 2012-12-22 Listed $22,000 BRIGHT MLS