20 Hazelwood Dr · Franklinville, NJ 08318

$115,000

2 bd · 1.0 ba · 780 sqft · SingleFamily · 108 Days on market

Built 1977

---

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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE THIS WEDNESDAY 4/24 FROM 5-7PM and SATURDAY 4/27 11AM-12PM. This 2-bedroom home has been completely remodeled and is ready for its new owner(s). Relax on the screened porch and enjoy the spring/summer days. Enter the home into its large and open living room. You will be greeted by the beautiful wide laminate plank flooring and calming neutrally painted walls throughout. This kitchen is brand new featuring white shaker cabinets, a butcherblock countertop, and lovely black fixtures. The bathroom was updated with a ceramic tiled floor, a tiled shower, and a large trendy vanity. There are 2 ample-sized bedrooms with closets for storage. This home has been updated with new sheet rock walls, new flooring, brand-new windows, a resealed roof, a brand-new kitchen, an updated bathroom, a new water heater, and a laundry hookup in the hallway. Outside you will find your private driveway, a shed for extra storage, and a screened-in patio, plus. .. .. you back up to the woods (so no neighbors behind you). The monthly lot rent includes water, sewer, trash pickup, a community pool, and a community center. Looking for a quick sale.

Key facts

• Screened in porch
• Open living room
• Private driveway

Tags

• OPEN LIVING ROOM
• BUTCHERBLOCK COUNTERTOPS
• SCREENED IN PORCH
• PRIVATE DRIVEWAY
• EXTRA STORAGE

Property features AI

Finance

• Other: Finished above-grade area reported as 780 (estimated)
• HOA & community: Land lease community with monthly land lease of $789; Land lease term remaining: 100 years

Exterior

• Parking: Asphalt driveway; Driveway parking
• Utilities: Community water; Community septic tank; Electric hot water
• Home design: Manufactured property (modular/manufactured); Above grade living space
• Construction: Modular/Manufactured construction; Double-hung windows; Estimated major remodel 2024
• Exterior features: Community pool; Not in a federal flood zone; Property manager present

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: 90% forced air heating (natural gas); Electric cooling
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.5% in Franklinville — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Pittsgrove Township School District (rural): math 18% / reading 48% proficiency, ranked #295 of 472 in NJ (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 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 $795 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $93k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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: 1.09% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $62,400
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Hazelwood Dr	0.00mi	2/2.0	800 (+3%)	9mo	$64,000	$80	84
25 Elmwood Dr	0.13mi	2/1.0	768 (-2%)	10mo	$20,000	$26	83
1 Cedarwood Dr	0.03mi	2/1.0	750 (-4%)	16mo	$60,000	$80	78
7 Elmwood Dr	0.10mi	2/2.0	784 (+0%)	18mo	$109,000	$139	76
43 Hazelwood Dr	0.01mi	2/1.0	860 (+10%)	11mo	$69,000	$80	73
248 Route 40 Lot D10	0.63mi	2/1.0	800 (+3%)	1mo	$50,000	$63	66
4 Donald Pl	0.24mi	2/2.0	868 (+11%)	6mo	$50,000	$58	61
5 Luann Dr	0.30mi	2/1.0	860 (+10%)	23mo	$77,500	$90	50
248 Harding Hwy Unit E-10	0.55mi	2/1.0	800 (+3%)	24mo	$74,900	$94	50

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-6,396
• Equity at exit: $17,147

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $10,243
• Equity at exit: $9,943

Cash invested: $32,200 (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 08318

• Home prices YoY: -16.6%
• Active inventory: 79
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,249 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $192

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 80%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $115,000 Active 108 DOM
2. 2026-06-18
   days on market $115,000 Active 107 DOM
3. 2026-06-17
   days on market $115,000 Active 106 DOM
4. 2026-06-16
   days on market $115,000 Active 105 DOM
5. 2026-06-15
   days on market $115,000 Active 104 DOM
6. 2026-06-14
   days on market $115,000 Active 102 DOM
7. 2026-06-13
   days on market $115,000 Active 101 DOM
8. 2026-06-10
   days on market $115,000 Active 99 DOM
9. 2026-06-09
   days on market $115,000 Active 98 DOM
10. 2026-06-08
    days on market $115,000 Active 97 DOM
11. 2026-06-07
    days on market $115,000 Active 96 DOM
12. 2026-06-05
    days on market $115,000 Active 93 DOM
13. 2026-06-02
    days on market $115,000 Active 91 DOM
14. 2026-06-01
    days on market $115,000 Active 90 DOM
15. 2026-05-31
    days on market $115,000 Active 89 DOM
16. 2026-05-30
    days on market $115,000 Active 88 DOM
17. 2026-04-16
    price $115,000
18. 2026-03-03
    listed $120,000 Active
19. 2026-02-24
    historical
20. 2026-01-19
    listed $120,000 Active
21. 2024-05-17
    soldstatus $93,000 Closed 1143-char remark

    Show marketing remark (1143 chars)

    OPEN HOUSE THIS WEDNESDAY 4/24 FROM 5-7PM and SATURDAY 4/27 11AM-12PM. This 2-bedroom home has been completely remodeled and is ready for its new owner(s). Relax on the screened porch and enjoy the spring/summer days. Enter the home into its large and open living room. You will be greeted by the beautiful wide laminate plank flooring and calming neutrally painted walls throughout. This kitchen is brand new featuring white shaker cabinets, a butcherblock countertop, and lovely black fixtures. The bathroom was updated with a ceramic tiled floor, a tiled shower, and a large trendy vanity. There are 2 ample-sized bedrooms with closets for storage. This home has been updated with new sheet rock walls, new flooring, brand-new windows, a resealed roof, a brand-new kitchen, an updated bathroom, a new water heater, and a laundry hookup in the hallway. Outside you will find your private driveway, a shed for extra storage, and a screened-in patio, plus. .. .. you back up to the woods (so no neighbors behind you). The monthly lot rent includes water, sewer, trash pickup, a community pool, and a community center. Looking for a quick sale.

22. 2024-05-06
    status Pending 1143-char remark

    Show marketing remark (1143 chars)

    OPEN HOUSE THIS WEDNESDAY 4/24 FROM 5-7PM and SATURDAY 4/27 11AM-12PM. This 2-bedroom home has been completely remodeled and is ready for its new owner(s). Relax on the screened porch and enjoy the spring/summer days. Enter the home into its large and open living room. You will be greeted by the beautiful wide laminate plank flooring and calming neutrally painted walls throughout. This kitchen is brand new featuring white shaker cabinets, a butcherblock countertop, and lovely black fixtures. The bathroom was updated with a ceramic tiled floor, a tiled shower, and a large trendy vanity. There are 2 ample-sized bedrooms with closets for storage. This home has been updated with new sheet rock walls, new flooring, brand-new windows, a resealed roof, a brand-new kitchen, an updated bathroom, a new water heater, and a laundry hookup in the hallway. Outside you will find your private driveway, a shed for extra storage, and a screened-in patio, plus. .. .. you back up to the woods (so no neighbors behind you). The monthly lot rent includes water, sewer, trash pickup, a community pool, and a community center. Looking for a quick sale.

23. 2024-04-20
    listed $93,000 Active 1143-char remark

    Show marketing remark (1143 chars)

    OPEN HOUSE THIS WEDNESDAY 4/24 FROM 5-7PM and SATURDAY 4/27 11AM-12PM. This 2-bedroom home has been completely remodeled and is ready for its new owner(s). Relax on the screened porch and enjoy the spring/summer days. Enter the home into its large and open living room. You will be greeted by the beautiful wide laminate plank flooring and calming neutrally painted walls throughout. This kitchen is brand new featuring white shaker cabinets, a butcherblock countertop, and lovely black fixtures. The bathroom was updated with a ceramic tiled floor, a tiled shower, and a large trendy vanity. There are 2 ample-sized bedrooms with closets for storage. This home has been updated with new sheet rock walls, new flooring, brand-new windows, a resealed roof, a brand-new kitchen, an updated bathroom, a new water heater, and a laundry hookup in the hallway. Outside you will find your private driveway, a shed for extra storage, and a screened-in patio, plus. .. .. you back up to the woods (so no neighbors behind you). The monthly lot rent includes water, sewer, trash pickup, a community pool, and a community center. Looking for a quick sale.

24. 2024-04-15
    historical $93,000 1143-char remark

    Show marketing remark (1143 chars)

    OPEN HOUSE THIS WEDNESDAY 4/24 FROM 5-7PM and SATURDAY 4/27 11AM-12PM. This 2-bedroom home has been completely remodeled and is ready for its new owner(s). Relax on the screened porch and enjoy the spring/summer days. Enter the home into its large and open living room. You will be greeted by the beautiful wide laminate plank flooring and calming neutrally painted walls throughout. This kitchen is brand new featuring white shaker cabinets, a butcherblock countertop, and lovely black fixtures. The bathroom was updated with a ceramic tiled floor, a tiled shower, and a large trendy vanity. There are 2 ample-sized bedrooms with closets for storage. This home has been updated with new sheet rock walls, new flooring, brand-new windows, a resealed roof, a brand-new kitchen, an updated bathroom, a new water heater, and a laundry hookup in the hallway. Outside you will find your private driveway, a shed for extra storage, and a screened-in patio, plus. .. .. you back up to the woods (so no neighbors behind you). The monthly lot rent includes water, sewer, trash pickup, a community pool, and a community center. Looking for a quick sale.

ⓘ 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: $14,986
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$3,345
• Taxable income: $501
• Est. tax owed @ 24.0%: −$120
• After-tax cash flow: $2,182/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: Pittsgrove Township School District
• NCES district ID: 3413110
• Math proficiency: 18% ▼ -22.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $71,126
• Composite: 30.59/100
• National rank: #6201
• State rank: #295 of 472 in NJ

Livability — Franklinville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 12,149

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 9% Black 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Lithuanian 3% Romanian 3% Serbian 1%
• Foreign-born: 1%
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -56.68%
• Current HPI: 284.9025
• 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

+23.7% since first listed

8 events — show timeline

• 2026-04-16 Price Changed $115,000 BRIGHT MLS
• 2026-03-03 Listed $120,000 BRIGHT MLS
• 2026-02-24 Listing Removed — BRIGHT MLS
• 2026-01-19 Listed $120,000 BRIGHT MLS
• 2024-05-17 Sold (MLS) $93,000 BRIGHT MLS
• 2024-05-06 Pending — BRIGHT MLS
• 2024-04-20 Listed $93,000 BRIGHT MLS
• 2024-04-15 Coming Soon $93,000 BRIGHT MLS