515 Oak St E · Millville, NJ 08332

$180,000

4 bd · 1.0 ba · 1,329 sqft · SingleFamily public records · 89 Days on market

Built 1926 2,200 sqft lot Est $264k · 32% under

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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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.8/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 515 E Oak St in Millville, a well-maintained 4 bedroom, 1.5 bath twin home offering a comfortable layout and thoughtfully updated interior. The main level features a spacious kitchen that connects seamlessly with the dining and living areas, creating an open and functional flow for everyday living. Upstairs, the home includes four bedrooms and a full bathroom, while the main level half bath adds additional convenience for guests and daily use. The layout provides a practical balance of shared living space and private bedroom areas. Recent updates make the home move-in ready, presenting a great opportunity for those seeking a well-cared-for property at an attainable price point. Various New Jersey homebuyer assistance programs may be available that could help cover down payment costs for qualified buyers. Schedule your showing to see everything 515 E Oak St has to offer.

Key facts

• Built 1926
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: schools F, crime F, amenities 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.
• 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).
• This rent runs 35% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 89 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $180k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $169,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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. 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?
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: 1.08% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.94%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $264,471
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 N 5th St N	0.32mi	3/1.0 (-1)	1,312 (-1%)	5mo	$125,000	$95	74
204 N 8th St	0.24mi	3/1.5 (-1)	1,300 (-2%)	8mo	$215,000	$165	72
700 9th St N N	0.33mi	3/2.0 (-1)	1,411 (+6%)	5mo	$299,900	$213	61
706 5th St N N	0.24mi	5/2.0 (+1)	1,424 (+7%)	8mo	$285,000	$200	61
6 N 10th St	0.45mi	3/1.0 (-1)	1,221 (-8%)	6mo	$255,000	$209	55
15 N 13th St	0.60mi	3/2.0 (-1)	1,346 (+1%)	7mo	$240,000	$178	55
216 S 3rd St	0.53mi	4/1.0	1,437 (+8%)	8mo	$140,000	$97	55
207 S 9th St	0.61mi	3/2.5 (-1)	1,384 (+4%)	0mo	$335,000	$242	53
705 N 9th St	0.37mi	3/2.5 (-1)	1,484 (+12%)	2mo	$260,000	$175	51
309 S 2nd St	0.62mi	3/1.0 (-1)	1,406 (+6%)	8mo	$190,000	$135	50
1310 E Main St	0.66mi	3/2.5 (-1)	1,387 (+4%)	2mo	$350,000	$252	49
19 W Mcneal St W	0.61mi	3/1.0 (-1)	1,182 (-11%)	7mo	$235,000	$199	42

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-7,327
• Equity at exit: $26,839

10-year hold

• IRR: 4.6%
• Equity multiple: 1.32×
• Total profit: $16,083
• Equity at exit: $15,563

Cash invested: $50,400 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,944 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$141 /mo · $1,695/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $375

Break-even live

Break-even rent $1,469

Max offer price $180,000

Occupancy floor 76%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 W Main St Unit B Millville, NJ	3.0	1.0	1384	$1,500	$1.08	44d	1	0.66mi
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	44d	1	0.84mi

Listing history 22 events

1. 2026-06-19
   days on market $180,000 Active 89 DOM
2. 2026-06-18
   days on market $180,000 Active 88 DOM
3. 2026-06-17
   days on market $180,000 Active 87 DOM
4. 2026-06-16
   days on market $180,000 Active 86 DOM
5. 2026-06-15
   days on market $180,000 Active 85 DOM
6. 2026-06-14
   days on market $180,000 Active 83 DOM
7. 2026-06-13
   days on market $180,000 Active 82 DOM
8. 2026-06-10
   days on market $180,000 Active 80 DOM
9. 2026-06-09
   days on market $180,000 Active 79 DOM
10. 2026-06-08
    days on market $180,000 Active 78 DOM
11. 2026-06-07
    days on market $180,000 Active 77 DOM
12. 2026-06-02
    days on market $180,000 Active 72 DOM
13. 2026-06-01
    days on market $180,000 Active 71 DOM
14. 2026-05-31
    days on market $180,000 Active 70 DOM
15. 2026-05-30
    days on market $180,000 Active 69 DOM
16. 2026-04-27
    price $190,000 893-char remark

    Show marketing remark (893 chars)

    Welcome to 515 E Oak St in Millville, a well-maintained 4 bedroom, 1.5 bath twin home offering a comfortable layout and thoughtfully updated interior. The main level features a spacious kitchen that connects seamlessly with the dining and living areas, creating an open and functional flow for everyday living. Upstairs, the home includes four bedrooms and a full bathroom, while the main level half bath adds additional convenience for guests and daily use. The layout provides a practical balance of shared living space and private bedroom areas. Recent updates make the home move-in ready, presenting a great opportunity for those seeking a well-cared-for property at an attainable price point. Various New Jersey homebuyer assistance programs may be available that could help cover down payment costs for qualified buyers. Schedule your showing to see everything 515 E Oak St has to offer.

17. 2026-03-22
    listed $195,000 Active 893-char remark

    Show marketing remark (893 chars)

    Welcome to 515 E Oak St in Millville, a well-maintained 4 bedroom, 1.5 bath twin home offering a comfortable layout and thoughtfully updated interior. The main level features a spacious kitchen that connects seamlessly with the dining and living areas, creating an open and functional flow for everyday living. Upstairs, the home includes four bedrooms and a full bathroom, while the main level half bath adds additional convenience for guests and daily use. The layout provides a practical balance of shared living space and private bedroom areas. Recent updates make the home move-in ready, presenting a great opportunity for those seeking a well-cared-for property at an attainable price point. Various New Jersey homebuyer assistance programs may be available that could help cover down payment costs for qualified buyers. Schedule your showing to see everything 515 E Oak St has to offer.

18. 2023-06-01
    soldstatus $80,000
19. 2023-05-12
    soldstatus $80,000 Closed
20. 2023-04-02
    listed $80,000
21. 2023-04-02
    historical
22. 1985-08-23
    soldstatus $8,500

ⓘ 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: $1,695 · $141/mo
• Projected year-2 tax: $3,089 · $257/mo
• Expected delta: +$1,393/yr (+$116/mo · 82.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 71% 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: $23,327
• − Mortgage interest: −$10,083
• − Property taxes: −$1,695
• − Insurance: −$900
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$5,236
• Taxable income: $1,680
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $4,103/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

+2135.3% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $190,000 BRIGHT MLS
• 2026-03-22 Listed $195,000 BRIGHT MLS
• 2023-06-01 Sold (Public Records) $80,000 Public Records
• 2023-05-12 Sold (MLS) $80,000 BRIGHT MLS
• 2023-04-02 Listing Removed — BRIGHT MLS
• 2023-04-02 Listed $80,000 BRIGHT MLS
• 1985-08-23 Sold (Public Records) $8,500 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,695 · +3.3% YoY. Source: county tax records.