100 Hemlock Dr #160 · Ocean Acres, NJ 08005

$48,500

2 bd · 1.0 ba · 792 sqft · Manufactured · 418 Days on market

Built 2025 Good condition $61/sqft · 83% above area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2025
• Listed 417 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $48k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 43.0% vs local median 3.2% in Ocean Acres — 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 (#425 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• Barnegat Township School District (suburban): math 23% / reading 46% proficiency, ranked #285 of 472 in NJ (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 253 active listings in the ZIP; solid renter incomes; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $335 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 418 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 58% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $42,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 418 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 4.74% ✓
• Cap rate: 42.98%
• Cash-on-cash: 131.03%
• DSCR: 6.83
• GRM: 1.8

CMA / ARV

• ARV (median comp): $26,460
• List price: $48,500
• Delta: 83.30%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Basswood Dr	0.05mi	2/1.0	800 (+1%)	2mo	$7,000	$9	95
108 Redwood Dr	0.19mi	2/1.5	800 (+1%)	7mo	$30,000	$38	82
114 Magnolia Ln	0.13mi	2/1.0	900 (+14%)	3mo	$4,000	$4	68
112 Chestnut Dr	0.19mi	2/1.0	900 (+14%)	5mo	$77,000	$86	64
150 Chestnut St	0.16mi	2/1.5	900 (+14%)	13mo	$32,500	$36	57
114 Oak Dr	0.18mi	2/2.0	900 (+14%)	15mo	$50,000	$56	52

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: —
• Equity multiple: 7.38×
• Total profit: $86,618
• Equity at exit: $7,232

10-year hold

• IRR: —
• Equity multiple: 15.52×
• Total profit: $197,176
• Equity at exit: $4,193

Cash invested: $13,580 (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 08005

• Active inventory: 253
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,301 medium
• Mortgage (P&I): −$254
• Tax est. 1.5%: −$61 /mo · $728/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $1,483

Break-even live

Break-even rent $424

Max offer price $48,500

Occupancy floor 31%

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: $12,125
• Closing costs: $1,455
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $48,500 Active 418 DOM
2. 2026-06-17
   days on market $48,500 Active 417 DOM
3. 2026-06-16
   days on market $48,500 Active 416 DOM
4. 2026-06-15
   days on market $48,500 Active 415 DOM
5. 2026-06-13
   days on market $48,500 Active 413 DOM
6. 2026-06-13
   days on market $48,500 Active 412 DOM
7. 2026-06-09
   days on market $48,500 Active 409 DOM
8. 2026-06-08
   days on market $48,500 Active 408 DOM
9. 2026-06-07
   days on market $48,500 Active 407 DOM
10. 2026-06-04
    days on market $48,500 Active 404 DOM
11. 2026-06-03
    days on market $48,500 Active 403 DOM
12. 2026-06-02
    days on market $48,500 Active 402 DOM
13. 2026-06-01
    days on market $48,500 Active 401 DOM
14. 2026-05-31
    days on market $48,500 Active 400 DOM
15. 2026-02-01
    price $48,500 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

16. 2025-12-17
    price $49,000 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

17. 2025-12-16
    price $39,000 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

18. 2025-12-16
    price $49,000 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

19. 2025-08-22
    price $39,000 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

20. 2025-05-14
    status Active 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

21. 2025-05-12
    historical 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

22. 2025-05-03
    status Active 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

23. 2025-03-29
    historical 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

24. 2025-03-21
    listed $30,700 Active 498-char remark

    Show marketing remark (498 chars)

    * THIS IS A RESALE LISTING * Pinewood Estates is an active and exciting 55+ Senior Community. Nestle into your 2 bedroom, 1 bathroom home located inside of Pinewood Estates, a friendly and well-maintained community. Around you, enjoy the great features the community has to offer such as a playground, a library, and a picnic area / pavilion / grill. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ 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: $27,615
• − Mortgage interest: −$2,717
• − Property taxes: −$728
• − Insurance: −$242
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − Depreciation: −$1,411
• Taxable income: $18,099
• Est. tax owed @ 24.0%: −$4,344
• After-tax cash flow: $13,450/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 mobile home is in good condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics. It's located in a well-maintained community with amenities such as a playground, library, and picnic area.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics
• Both Updating the kitchen countertops — Modern countertops can improve the kitchen's functionality and appearance
• Both Upgrading the bathroom fixtures — Newer fixtures can make the bathroom more functional and appealing

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Updating the kitchen countertops — Modern countertops can improve the kitchen's functionality and appearance ↑
• Both Upgrading the bathroom fixtures — Newer fixtures can make the bathroom more functional and appealing ↑

ⓘ 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: Barnegat Township School District
• NCES district ID: 3416470
• Math proficiency: 23% ▼ -14.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $63,645
• Composite: 31.15/100
• National rank: #6059
• State rank: #285 of 472 in NJ

Livability — Ocean Acres

• Score: 63/100
• State rank: #425
• US rank: #15187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ocean County · 439,426 people
• City population: 25,936
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,866
• Household income: $93,584
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 384.0

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 9% Scotch-Irish 2% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.01%
• Current HPI: 344.3189
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+58.0% since first listed

10 events — show timeline

• 2026-02-01 Price Changed $48,500 Zillow
• 2025-12-17 Price Changed $49,000 Zillow
• 2025-12-16 Price Changed $39,000 Zillow
• 2025-12-16 Price Changed $49,000 Zillow
• 2025-08-22 Price Changed $39,000 Zillow
• 2025-05-14 Relisted — Zillow
• 2025-05-12 Delisted — Zillow
• 2025-05-03 Relisted — Zillow
• 2025-03-29 Delisted — Zillow
• 2025-03-21 Listed $30,700 Zillow