308 W Foundry St · Millville, NJ 08332

$152,500

2 bd · 1.0 ba · 1,080 sqft · Townhouse public records · 35 Days on market

Built 1900 2,800 sqft lot Est $116k · 32% over

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Why this score? — see what drove the D 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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This half double features a full front porch. There is a living room, formal dining room, kitchen with a door to the rear yard and access to the full bathroom. Upstairs is where you will find 2 additional bedrooms. There is a basement, this is where the laundry is located. Natural gas heating. Located close to the Downtown area, local shopping, dining options and RT 55 for traveling.

Key facts

• Built 1900
• Listed 34 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas heating fuel
• Home design: Frame construction
• Construction: Frame construction; Other foundation; Estimated year built
• Exterior features: Semi-detached property; Above-grade and below-grade structures; No tidal water

Interior

• Kitchen: Kitchen
• Bedrooms: Two bedrooms on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating; Central air conditioning; Electric hot water
• Interior features: Estimated living area; Finished above-grade area approximately 1,080
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $152k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• Recommended offer: $148k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.2% in Millville — 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 63/100 on livability (#431 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Millville School District (suburban): math 6% / reading 28% proficiency, ranked #447 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Millville Senior High School (math 24% / reading 24%, grade F, #327 of 399 statewide, top 82%, 1,640 students, 68% FRL).
• Market conditions: Rents rising (+1.9%/yr); 296 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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 $117k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,925 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $115,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Powell St W	0.19mi	2/1.0	1,044 (-3%)	7mo	$150,000	$144	80
123 W Foundry St	0.13mi	3/1.0 (+1)	1,128 (+4%)	10mo	$115,000	$102	73
414 W Powell St	0.19mi	2/1.0	960 (-11%)	5mo	$115,000	$120	69
416 Green St W	0.15mi	3/1.0 (+1)	1,001 (-7%)	12mo	$125,000	$125	66
213 D St	0.48mi	3/1.0 (+1)	1,020 (-6%)	0mo	$77,500	$76	63
215 D St	0.48mi	3/1.0 (+1)	1,020 (-6%)	0mo	$77,500	$76	63
907 Buck St	0.28mi	2/1.0	1,000 (-7%)	14mo	$107,000	$107	63
8 W Powell St	0.23mi	3/1.0 (+1)	1,021 (-6%)	23mo	$83,750	$82	56
6 W Powell St	0.23mi	3/1.0 (+1)	1,021 (-6%)	23mo	$83,750	$82	56
515 N 5th St	0.73mi	3/1.0 (+1)	1,100 (+2%)	8mo	$160,000	$145	51
827 N 3rd St	0.50mi	2/1.0	1,173 (+9%)	21mo	$90,000	$77	44
712 N 5th St	0.66mi	3/1.0 (+1)	984 (-9%)	13mo	$185,000	$188	39

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-11,914
• Equity at exit: $22,738

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,603
• Equity at exit: $13,185

Cash invested: $42,700 (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 08332

• Home prices YoY: -28.9%
• Rents YoY: 1.9%
• Active inventory: 296
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,554 medium
• Mortgage (P&I): −$800
• Tax from tax record: −$138 /mo · $1,651/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $227

Break-even live

Break-even rent $1,267

Max offer price $152,500

Occupancy floor 80%

Sensitivity live

Price	-10% $313	-5% $270	+0% $227	+5% $184	+10% $141
Rent	-10% $104	-5% $165	+0% $227	+5% $288	+10% $350
Rate	-1.0pp $304	-0.5pp $266	base $227	+0.5pp $187	+1.0pp $147

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: $38,125
• Closing costs: $4,575
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	45d	1	0.64mi
112 W Main St Unit B Millville, NJ	3.0	1.0	1384	$1,500	$1.08	45d	1	0.67mi

Listing history 29 events

1. 2026-06-19
   days on market $152,500 Active 35 DOM
2. 2026-06-18
   days on market $152,500 Active 34 DOM
3. 2026-06-17
   days on market $152,500 Active 33 DOM
4. 2026-06-16
   days on market $152,500 Active 32 DOM
5. 2026-06-15
   days on market $152,500 Active 31 DOM
6. 2026-06-14
   days on market $152,500 Active 29 DOM
7. 2026-06-13
   days on market $152,500 Active 28 DOM
8. 2026-06-10
   days on market $152,500 Active 26 DOM
9. 2026-06-09
   days on market $152,500 Active 25 DOM
10. 2026-06-08
    days on market $152,500 Active 24 DOM
11. 2026-06-07
    days on market $152,500 Active 23 DOM
12. 2026-06-02
    days on market $152,500 Active 18 DOM
13. 2026-06-01
    days on market $152,500 Active 17 DOM
14. 2026-05-31
    days on market $152,500 Active 16 DOM
15. 2026-05-30
    days on market $152,500 Active 15 DOM
16. 2026-05-19
    price $155,000 521-char remark
17. 2026-05-15
    listed $160,000 Active 521-char remark
18. 2026-04-25
    historical
19. 2026-04-24
    listed $160,000 Active
20. 2025-09-26
    soldstatus $117,000 Closed

    Show marketing remark (386 chars)

    This half double features a full front porch. There is a living room, formal dining room, kitchen with a door to the rear yard and access to the full bathroom. Upstairs is where you will find 2 additional bedrooms. There is a basement, this is where the laundry is located. Natural gas heating. Located close to the Downtown area, local shopping, dining options and RT 55 for traveling.

21. 2025-09-03
    status Pending

    Show marketing remark (386 chars)

    This half double features a full front porch. There is a living room, formal dining room, kitchen with a door to the rear yard and access to the full bathroom. Upstairs is where you will find 2 additional bedrooms. There is a basement, this is where the laundry is located. Natural gas heating. Located close to the Downtown area, local shopping, dining options and RT 55 for traveling.

22. 2025-08-19
    price $119,900

    Show marketing remark (386 chars)

    This half double features a full front porch. There is a living room, formal dining room, kitchen with a door to the rear yard and access to the full bathroom. Upstairs is where you will find 2 additional bedrooms. There is a basement, this is where the laundry is located. Natural gas heating. Located close to the Downtown area, local shopping, dining options and RT 55 for traveling.

23. 2025-07-18
    listed $124,900 Active

    Show marketing remark (386 chars)

    This half double features a full front porch. There is a living room, formal dining room, kitchen with a door to the rear yard and access to the full bathroom. Upstairs is where you will find 2 additional bedrooms. There is a basement, this is where the laundry is located. Natural gas heating. Located close to the Downtown area, local shopping, dining options and RT 55 for traveling.

24. 2018-12-21
    historical
25. 2018-12-19
    listed $94,000 Active
26. 2008-06-27
    soldstatus $72,122
27. 2008-06-27
    soldstatus $72,122
28. 2008-03-07
    listed $69,900
29. 2008-03-07
    listed $69,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $1,651 · $138/mo
• Projected year-2 tax: $2,724 · $227/mo
• Expected delta: +$1,073/yr (+$89/mo · 65.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,648
• − Mortgage interest: −$8,542
• − Property taxes: −$1,651
• − Insurance: −$762
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$4,436
• Taxable income: $272
• Est. tax owed @ 24.0%: −$65
• After-tax cash flow: $2,657/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: Millville School District
• NCES district ID: 3410320
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $48,851
• Composite: 15.23/100
• National rank: #9338
• State rank: #447 of 472 in NJ

Livability — Millville

• Score: 63/100
• State rank: #431
• US rank: #15561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, NJ
• County: Cumberland County · 80,266 people
• City population: 35,228
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 35,228
• Household income: $67,496
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1761.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 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: ▼ -111.45%
• Current HPI: 274.8011
• Rent YoY: ▲ 1.94%
• Metro: Vineland-Bridgeton, NJ
• 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

+118.2% since first listed

15 events — show timeline

• 2026-05-27 Price Changed $152,500 BRIGHT MLS
• 2026-05-19 Price Changed $155,000 BRIGHT MLS
• 2026-05-15 Listed $160,000 BRIGHT MLS
• 2026-04-25 Listing Removed — BRIGHT MLS
• 2026-04-24 Listed $160,000 BRIGHT MLS
• 2025-09-26 Sold (MLS) $117,000 BRIGHT MLS
• 2025-09-03 Pending — BRIGHT MLS
• 2025-08-19 Price Changed $119,900 BRIGHT MLS
• 2025-07-18 Listed $124,900 BRIGHT MLS
• 2018-12-21 Listing Removed — BRIGHT MLS
• 2018-12-19 Listed $94,000 BRIGHT MLS
• 2008-06-27 Sold (MLS) $72,122 BRIGHT MLS
• 2008-06-27 Sold (MLS) $72,122 SJSRMLS
• 2008-03-07 Listed $69,900 BRIGHT MLS
• 2008-03-07 Listed $69,900 SJSRMLS

Property tax history

-1.4%/yr

Latest (2025): $1,651 · +3.3% YoY. Source: county tax records.