2528 Market St · Port Norris, NJ 08349

$89,000

4 bd · 2.0 ba · 1,938 sqft · SingleFamily public records · 37 Days on market

Built 1880 9,257 sqft lot $46/sqft · 61% below area ↓ 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
• Appreciation +4.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Investor alert!!! Huge Victorian just a short drive to the shore with comparable sales in excess of $350,000! This 4BD/2BTH fixer upper is overflowing with historic charm & just waiting for someone to make it their own. Full bathroom and one bedroom located on the first floor for maximum convenience. Third floor attic & basement offer an abundance of storage space. Strictly as-is sale, buyer is responsible for the CO. Seller obtained property via tax lien foreclosure. Seller prefers to use Brennan Title to complete the transaction. Seller makes no guarantees or warranties as to the condition or accuracy of the information provided. Seller has never seen nor been to property. Schedule a private tour!

Key facts

• Third floor attic
• First floor bathroom
• Historic charm

Tags

• HISTORIC CHARM
• FIRST FLOOR BATHROOM
• FIRST FLOOR BEDROOM
• THIRD FLOOR ATTIC
• BASEMENT STORAGE

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Well water; Private sewer / septic
• Home design: Detached structure; Above-grade finished area reported as 1,938 sq ft
• Construction: Wood siding; Permanent foundation; Other structures above grade and below grade; Year built reported by assessor
• Exterior features: Porch(es); Lot dimensions approximately 66.00 x 140.25; Located in a federal flood zone

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the main level
• Bathrooms: Two full bathrooms total (one on main level, one on first upper level)
• Heating & cooling: Radiator heating; Oil fuel; Electric hot water
• Interior features: Basement (full); Attic; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#508 in NJ) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: schools F, amenities F, commute F.
• Commercial Township School District (rural): math 5% / reading 29% proficiency, ranked #449 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 24 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).

Forward outlook

• In year one you build about $290 of equity ($615 loan paydown + $-325 appreciation (-0.4% local appreciation)).
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 2.07% ✓
• Cap rate: 17.63%
• Cash-on-cash: 40.48%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $229,461
• List price: $89,000
• Delta: -61.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1668 Main St	0.21mi	4/1.5	2,032 (+5%)	2mo	$65,000	$32	79
1794 Main St	0.51mi	4/2.5	1,988 (+3%)	3mo	$150,000	$75	68
2533 High St	0.06mi	3/1.5 (-1)	1,686 (-13%)	2mo	$261,000	$155	67
1726 Main St	0.24mi	3/1.5 (-1)	1,864 (-4%)	12mo	$235,000	$126	66
2317 Market St	0.28mi	3/2.5 (-1)	2,100 (+8%)	19mo	$350,000	$167	50
2510 High St	0.12mi	3/1.5 (-1)	1,660 (-14%)	18mo	$272,000	$164	49
6311 Brown St	0.34mi	3/1.0 (-1)	1,736 (-10%)	11mo	$147,500	$85	48
6824 Brown St	0.30mi	3/1.5 (-1)	1,688 (-13%)	17mo	$275,000	$163	44
2400 Maurice St	0.68mi	4/3.0	1,736 (-10%)	9mo	$338,000	$195	39

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

Projected returns pro-forma

-0.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.6%
• Equity multiple: 2.82×
• Total profit: $45,251
• Equity at exit: $24,229

10-year hold

• IRR: 41.2%
• Equity multiple: 5.54×
• Total profit: $113,159
• Equity at exit: $27,866

Cash invested: $24,920 (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 08349

• Home prices YoY: -0.2%
• Active inventory: 24
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,843 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $774

Break-even live

Break-even rent $863

Max offer price $89,000

Occupancy floor 53%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $89,000 Active 37 DOM
2. 2026-06-18
   days on market $89,000 Active 36 DOM
3. 2026-06-17
   days on market $89,000 Active 35 DOM
4. 2026-06-16
   days on market $89,000 Active 34 DOM
5. 2026-06-15
   days on market $89,000 Active 33 DOM
6. 2026-06-14
   days on market $89,000 Active 31 DOM
7. 2026-06-13
   days on market $89,000 Active 30 DOM
8. 2026-06-10
   days on market $89,000 Active 28 DOM
9. 2026-06-09
   days on market $89,000 Active 27 DOM
10. 2026-06-08
    days on market $89,000 Active 26 DOM
11. 2026-06-07
    days on market $89,000 Active 25 DOM
12. 2026-06-02
    days on market $89,000 Active 20 DOM
13. 2026-06-01
    days on market $89,000 Active 19 DOM
14. 2026-05-31
    days on market $89,000 Active 18 DOM
15. 2026-05-30
    days on market $89,000 Active 17 DOM
16. 2026-05-13
    listed $99,900 Active 720-char remark

    Show marketing remark (720 chars)

    Investor alert!!! Huge Victorian just a short drive to the shore with comparable sales in excess of $350,000! This 4BD/2BTH fixer upper is overflowing with historic charm & just waiting for someone to make it their own. Full bathroom and one bedroom located on the first floor for maximum convenience. Third floor attic & basement offer an abundance of storage space. Strictly as-is sale, buyer is responsible for the CO. Seller obtained property via tax lien foreclosure. Seller prefers to use Brennan Title to complete the transaction. Seller makes no guarantees or warranties as to the condition or accuracy of the information provided. Seller has never seen nor been to property. Schedule a private tour!

17. 2026-05-13
    listed $99,900 Active 720-char remark

    Show marketing remark (720 chars)

    Investor alert!!! Huge Victorian just a short drive to the shore with comparable sales in excess of $350,000! This 4BD/2BTH fixer upper is overflowing with historic charm & just waiting for someone to make it their own. Full bathroom and one bedroom located on the first floor for maximum convenience. Third floor attic & basement offer an abundance of storage space. Strictly as-is sale, buyer is responsible for the CO. Seller obtained property via tax lien foreclosure. Seller prefers to use Brennan Title to complete the transaction. Seller makes no guarantees or warranties as to the condition or accuracy of the information provided. Seller has never seen nor been to property. Schedule a private tour!

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 95% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,111
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$2,589
• Taxable income: $8,421
• Est. tax owed @ 24.0%: −$2,021
• After-tax cash flow: $7,268/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: Commercial Township School District
• NCES district ID: 3403480
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 29% ▲ 10.00%
• Median HH income: $45,143
• Composite: 14.86/100
• National rank: #9378
• State rank: #449 of 472 in NJ

Livability — Port Norris

• Score: 58/100
• State rank: #508
• US rank: #21543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Norris, NJ
• City population: 2,400
• Population (ZIP): 2,400

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 19% Hispanic / Latino 9% Two or more races 7% Native American 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Slovak 11% Romanian 5% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -0.37%
• Current HPI: 177.1561
• 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

-10.9% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $89,000 SJSRMLS
• 2026-05-26 Price Changed $89,000 BRIGHT MLS
• 2026-05-13 Listed $99,900 BRIGHT MLS
• 2026-05-13 Listed $99,900 SJSRMLS

Property tax history

+3.6%/yr

Latest (2025): $4,962 · +4.8% YoY. Source: county tax records.