165 Maurice Blvd · Middle, NJ 08242

$170,000

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 94 Days on market

Built 2009 Est $204k · 17% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +2.2/10.0

Listing remarks

Welcome to easy living in the desirable Grande Woods South manufactured home community! This well-maintained 2 bedroom, 2 full bath, 20 x 56 (1,120 sq ft) home offers comfortable one-level living in a fantastic location close to the Wildwoods, Cape May, the bay, local shops, restaurants, wineries, and breweries. Inside, the home features a living room, kitchen, dining area, and a dedicated laundry room, creating a practical layout for everyday living or a relaxing shore getaway. The home also offers a charming covered front porch—perfect for enjoying your morning coffee or relaxing after a day at the shore. A convenient accessibility ramp provides easy entry, making the home ideal for

Key facts

• Built 2009
• Listed 94 days

Property features AI

Exterior

• Utilities: City sewer; Well water; Electric hot water
• Home design: Vinyl exterior; Offered for sale
• Exterior features: Deck; Porch; Fenced yard; Storage building; Cable TV available; Sidewalks

Interior

• Kitchen: Range; Oven; Microwave; Dishwasher; Natural gas stove
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Smoke/Fire detector
• Interior features: Storage; Curtains and blinds included; Living room; Dining room; Kitchen; Laundry/utility room; Total of 8 rooms
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $-160 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (24.4% below list).
• Recommended offer: $129k (24.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Middle Township Public School District (suburban): math 15% / reading 38% proficiency, ranked #372 of 472 in NJ (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Middle Township Elementary #1 (657 students, 56% FRL); Middle Township Elementary #4 (math 14% / reading 47%, grade F, #303 of 431 statewide, top 72%, 594 students, 52% FRL); Middle Township High School (math 17% / reading 32%, grade F, #327 of 399 statewide, top 82%, 790 students, 36% FRL).
• Market conditions: 72 active listings in the ZIP; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $128,513 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.02%
• DSCR: 0.82
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $203,840
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
68 Priest Blvd	0.05mi	2/2.0	980 (-12%)	2mo	$140,000	$143	75
322 Grande Blvd	0.14mi	3/2.0 (+1)	980 (-12%)	20mo	$178,000	$182	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 2.73×
• Total profit: $82,442
• Equity at exit: $153,149

10-year hold

• IRR: 19.4%
• Equity multiple: 6.27×
• Total profit: $250,810
• Equity at exit: $330,273

Cash invested: $47,600 (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 08242

• Home prices YoY: 14.2%
• Active inventory: 72
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,285 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-160

Break-even live

Break-even rent $1,487

Max offer price $146,909

Occupancy floor —

Sensitivity live

Price	-10% $-42	-5% $-101	+0% $-160	+5% $-218	+10% $-277
Rent	-10% $-261	-5% $-210	+0% $-160	+5% $-109	+10% $-58
Rate	-1.0pp $-74	-0.5pp $-116	base $-160	+0.5pp $-204	+1.0pp $-248

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $170,000 Active 94 DOM
2. 2026-06-21
   days on market $170,000 Active 93 DOM
3. 2026-06-18
   days on market $170,000 Active 91 DOM
4. 2026-06-17
   days on market $170,000 Active 90 DOM
5. 2026-06-16
   days on market $170,000 Active 89 DOM
6. 2026-06-15
   days on market $170,000 Active 88 DOM
7. 2026-06-13
   days on market $170,000 Active 86 DOM
8. 2026-06-12
   days on market $170,000 Active 85 DOM
9. 2026-06-09
   days on market $170,000 Active 82 DOM
10. 2026-06-08
    days on market $170,000 Active 81 DOM
11. 2026-06-07
    days on market $170,000 Active 80 DOM
12. 2026-06-07
    days on market $170,000 Active 79 DOM
13. 2026-06-04
    days on market $170,000 Active 76 DOM
14. 2026-06-02
    pricedays on market $170,000 Active 75 DOM
15. 2026-06-01
    days on market $180,000 Active 74 DOM
16. 2026-05-31
    days on market $180,000 Active 73 DOM
17. 2026-03-19
    listed $180,000 Active
18. 2026-03-16
    listed $180,000

ⓘ 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: $15,422
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,945
• Taxable loss: −$4,914
• Est. tax savings @ 24.0%: +$1,179
• After-tax cash flow: $-736/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: Middle Township Public School District
• NCES district ID: 3410020
• Math proficiency: 15% ▼ -18.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $59,228
• Composite: 24.09/100
• National rank: #7754
• State rank: #372 of 472 in NJ

Livability — Middle

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

Census & demographics

• Census place: Rio Grande, NJ
• Population (ZIP): 4,021

Population outlook (Cape May County) Hauer SSP2

• Today (2025): 88,234 people
• By 2030: 84,144 · -4.6%
• By 2040: 75,146 · -14.8%
• By 2050: 67,389 · -23.6%
• By 2075: 55,732 · -36.8%
• By 2100: 44,972 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Two or more races 11% Black 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 11% Russian/Polish/Slavic 2% Arabic 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 51.53%
• Current HPI: 414.7401
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-19 Listed $180,000 CMCMLS
• 2026-03-16 Listed $180,000 CMCMLS