922 Cresson Ave #15 · Pleasantville, NJ 08232

$134,900

1 bd · 1.0 ba · 656 sqft · Townhouse · 4 Days on market

Built 1983 Good condition Est $133k · at est. $185/mo HOA · 11% of rent

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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 +20.8/30.0
• 1% rule +7.2/10.0
• ARV discount +6.9/15.0
• DSCR +6.6/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

The easiest entry point into the shore market you will find. This first floor end unit, one bedroom, one bath condo at 922 Cresson Ave, Unit 15 in the Cresson Woods community puts you steps from Northfield and minutes from Atlantic City, Margate, and Ocean City beaches at a price that makes owning easier than renting. End units offer added privacy, extra natural light, and a quieter living experience that interior units simply cannot match. The first floor location means no stairs, easy access, and effortless everyday living. The unit offers a well laid out living space, dedicated parking, and a private front deck that makes this feel more like a home than a condo. Cresson Woods offers a qu

Key facts

• First floor end unit
• Private front deck
• Dedicated parking

Tags

• FIRST FLOOR END UNIT
• DEDICATED PARKING
• PRIVATE FRONT DECK
• QUIET RESIDENTIAL SETTING

Property features AI

Finance

• Other: Zoned MF (multi-family)
• HOA & community: Association-managed community; Monthly association fee of $185 (includes management)

Exterior

• Parking: One assigned exterior parking space; No garage
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Condo (Cresson Woods); Single-story unit; End unit; First-floor unit
• Construction: Built 25+ years ago
• Exterior features: Vinyl siding; Pets allowed; Deck/porch (common area)

Interior

• Kitchen: Dishwasher; Electric stove; Microwave; Refrigerator
• Bedrooms: Master bedroom on first floor; End unit, first-floor bedroom location noted
• Bathrooms: 1 full bathroom
• Interior features: Blinds, Curtains, Drapes; Dining area; Eat-in kitchen; Deck/Porch (common area)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 7.9% vs local median 4.5% in Pleasantville — 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 73/100 on livability (#194 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Pleasantville Public School District (suburban): math 6% / reading 28% proficiency, ranked #451 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $134,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $133,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
922 CRESSON Ave #16	0.00mi	1/1.0	656 (0%)	8mo	$100,000	$152	94
270 London Ct #270	0.38mi	1/1.0	665 (+1%)	7mo	$157,900	$237	74
235 London Ct #235	0.37mi	1/1.0	662 (+1%)	12mo	$165,000	$249	71
449 London Court II #449	0.43mi	1/1.0	644 (-2%)	8mo	$137,500	$214	71
727 Black Horse Pike Apt 4-2 #4-2	0.68mi	1/1.0	670 (+2%)	8mo	$109,000	$163	58
106 Newtowne Sq	0.72mi	1/1.0	616 (-6%)	5mo	$110,000	$179	52
11 Heather Croft	0.71mi	1/1.0	640 (-2%)	15mo	$150,000	$234	51
36 Heather Croft	0.74mi	1/1.0	640 (-2%)	16mo	$130,000	$203	49
305 Newtowne Sq	0.69mi	1/1.0	616 (-6%)	21mo	$124,900	$203	40
403 Newtowne Sq	0.70mi	1/1.0	616 (-6%)	23mo	$116,000	$188	38
403 Newtown Sq	0.71mi	1/1.0	616 (-6%)	23mo	$116,000	$188	38
414 Noahs Rd Rd #414	0.71mi	2/1.0 (+1)	729 (+11%)	13mo	$140,000	$192	33

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-9,860
• Equity at exit: $20,114

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $7,251
• Equity at exit: $11,664

Cash invested: $37,772 (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 08232

• Home prices YoY: -17.3%
• Active inventory: 84
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$185
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $186

Break-even live

Break-even rent $1,414

Max offer price $134,900

Occupancy floor 84%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 W Ridgewood Ave Pleasantville, NJ	1.0–3.0	1.0–1.5	905	$1,650	$1.82	21d	1	0.71mi

HOA detail

• Monthly dues: $185 · $2,220/yr

Listing history 5 events

1. 2026-06-19
   days on market $134,900 Active 4 DOM
2. 2026-06-18
   days on market $134,900 Active 3 DOM
3. 2026-06-17
   days on market $134,900 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $134,900 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: $19,800
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$2,220
• − Depreciation: −$3,924
• Taxable income: $233
• Est. tax owed @ 24.0%: −$56
• After-tax cash flow: $2,179/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 townhouse is in good condition with some minor repairs needed. It offers a good investment opportunity with potential for increased value through cosmetic updates.

Repairs flagged

• Minor front porch railings — slight wear
• Minor front door — slight wear

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Rental replace shower curtain — improves cleanliness
• Both install new flooring — increases both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
front porch railings · slight wear	Minor	$500–3,000
front door · slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Rental replace shower curtain — improves cleanliness ↑
• Both install new flooring — increases both resale and rental value ↑

ⓘ 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: Pleasantville Public School District
• NCES district ID: 3413200
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $39,569
• Composite: 14.34/100
• National rank: #9440
• State rank: #451 of 472 in NJ

Livability — Pleasantville

• Score: 73/100
• State rank: #194
• US rank: #5487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasantville, NJ
• Population (ZIP): 20,200

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 52% Black 33% Two or more races 22% White 6% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 12% Dominican 14%
• Common ancestry: Hispanic 1%
• Foreign-born: 30% · Canada, Jamaica, Vietnam
• Languages at home: 44% English-only · Spanish 48% French/Haitian/Cajun 5% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.51%
• Current HPI: 346.2085
• 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

1 event — show timeline

• 2026-06-15 Listed $134,900 SJSRMLS