10 E Broad St · Millville, NJ 08332

$238,900

None bd · None ba · 4,650 sqft · MultiFamily · 154 Days on market

Built 1950 Fair condition Est $358k · 33% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to the Market: A Freshly Updated Mixed-Use Property! This attractive and versatile property is ready for a savvy investor or business owner to take over. The lower level offers significant income potential from its spacious commercial space perfect for someone looking to launch or expand their business while benefiting from rental income or even living on-site in the upper unit. The upper residential unit will be delivered vacant, offering flexibility for the new owner or tenant. Please note: the unit is currently listed for rent, and if a tenant is placed before closing, it will be occupied. Conveniently located near downtown High Street, this expansive property is ideal for a variety of uses, including professional offices, retail, or even a community center. The lower commercial space features a large open area, ten private offices, four bathrooms, central air, and updated flooring. A dedicated parking lot is also included. Upstairs, the residential unit offers two bedrooms, two additional bonus rooms or offices, a spacious living/dining area, a fully equipped kitchen with all appliances, and two full bathrooms. Don’t miss this rare opportunity to own a well-appointed mixed-use property in a prime location!

Key facts

• Income potential
• Commercial space
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• INCOME POTENTIAL
• COMMERCIAL SPACE
• DEDICATED PARKING LOT
• FULLY EQUIPPED KITCHEN

🏷️ Possibly a rental listed for sale. The $238,900 price doesn't fit this home's estimated sale value (~$358,050) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a multifamily listed at $239k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• At $3,473/mo this rent would consume 62% of the median local household income ($67k/yr) (locally 1761% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.45% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.60%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $358,050
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 E Main St	0.54mi	—/—	3,960 (-15%)	16mo	$305,000	$77	36

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: 10.4%
• Equity multiple: 1.41×
• Total profit: $27,268
• Equity at exit: $35,621

10-year hold

• IRR: 18.7%
• Equity multiple: 2.48×
• Total profit: $98,847
• Equity at exit: $20,656

Cash invested: $66,892 (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: 11.5×

Monthly cashflow live

• Estimated rent: $3,473 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,584/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $1,093

Break-even live

Break-even rent $2,090

Max offer price $238,900

Occupancy floor 64%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,472
Total (2 units)			$3,473

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: $59,725
• Closing costs: $7,167
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $238,900 Active 154 DOM
2. 2026-06-18
   days on market $238,900 Active 153 DOM
3. 2026-06-17
   days on market $238,900 Active 152 DOM
4. 2026-06-16
   days on market $238,900 Active 151 DOM
5. 2026-06-15
   days on market $238,900 Active 150 DOM
6. 2026-06-14
   days on market $238,900 Active 148 DOM
7. 2026-06-13
   days on market $238,900 Active 147 DOM
8. 2026-06-10
   days on market $238,900 Active 145 DOM
9. 2026-06-09
   days on market $238,900 Active 144 DOM
10. 2026-06-08
    days on market $238,900 Active 143 DOM
11. 2026-06-07
    days on market $238,900 Active 142 DOM
12. 2026-06-02
    days on market $238,900 Active 137 DOM
13. 2026-06-01
    days on market $238,900 Active 136 DOM
14. 2026-05-31
    days on market $238,900 Active 135 DOM
15. 2026-05-30
    days on market $238,900 Active 134 DOM
16. 2026-04-06
    price $238,900 1243-char remark

    Show marketing remark (1243 chars)

    Welcome to the Market: A Freshly Updated Mixed-Use Property! This attractive and versatile property is ready for a savvy investor or business owner to take over. The lower level offers significant income potential from its spacious commercial space perfect for someone looking to launch or expand their business while benefiting from rental income or even living on-site in the upper unit. The upper residential unit will be delivered vacant, offering flexibility for the new owner or tenant. Please note: the unit is currently listed for rent, and if a tenant is placed before closing, it will be occupied. Conveniently located near downtown High Street, this expansive property is ideal for a variety of uses, including professional offices, retail, or even a community center. The lower commercial space features a large open area, ten private offices, four bathrooms, central air, and updated flooring. A dedicated parking lot is also included. Upstairs, the residential unit offers two bedrooms, two additional bonus rooms or offices, a spacious living/dining area, a fully equipped kitchen with all appliances, and two full bathrooms. Don’t miss this rare opportunity to own a well-appointed mixed-use property in a prime location!

17. 2026-02-11
    price $247,900 1243-char remark

    Show marketing remark (1243 chars)

    Welcome to the Market: A Freshly Updated Mixed-Use Property! This attractive and versatile property is ready for a savvy investor or business owner to take over. The lower level offers significant income potential from its spacious commercial space perfect for someone looking to launch or expand their business while benefiting from rental income or even living on-site in the upper unit. The upper residential unit will be delivered vacant, offering flexibility for the new owner or tenant. Please note: the unit is currently listed for rent, and if a tenant is placed before closing, it will be occupied. Conveniently located near downtown High Street, this expansive property is ideal for a variety of uses, including professional offices, retail, or even a community center. The lower commercial space features a large open area, ten private offices, four bathrooms, central air, and updated flooring. A dedicated parking lot is also included. Upstairs, the residential unit offers two bedrooms, two additional bonus rooms or offices, a spacious living/dining area, a fully equipped kitchen with all appliances, and two full bathrooms. Don’t miss this rare opportunity to own a well-appointed mixed-use property in a prime location!

18. 2026-01-16
    listed $259,900 Active 1243-char remark

    Show marketing remark (1243 chars)

    Welcome to the Market: A Freshly Updated Mixed-Use Property! This attractive and versatile property is ready for a savvy investor or business owner to take over. The lower level offers significant income potential from its spacious commercial space perfect for someone looking to launch or expand their business while benefiting from rental income or even living on-site in the upper unit. The upper residential unit will be delivered vacant, offering flexibility for the new owner or tenant. Please note: the unit is currently listed for rent, and if a tenant is placed before closing, it will be occupied. Conveniently located near downtown High Street, this expansive property is ideal for a variety of uses, including professional offices, retail, or even a community center. The lower commercial space features a large open area, ten private offices, four bathrooms, central air, and updated flooring. A dedicated parking lot is also included. Upstairs, the residential unit offers two bedrooms, two additional bonus rooms or offices, a spacious living/dining area, a fully equipped kitchen with all appliances, and two full bathrooms. Don’t miss this rare opportunity to own a well-appointed mixed-use property in a prime location!

19. 2026-01-15
    historical
20. 2025-12-29
    price $259,900
21. 2025-11-12
    price $279,900
22. 2025-08-25
    price $299,000
23. 2025-08-19
    price $318,500
24. 2025-07-15
    listed $328,500 Active
25. 2025-07-14
    historical
26. 2025-05-20
    price $328,500
27. 2025-02-04
    listed $329,000 Active
28. 2024-03-22
    soldstatus $210,000 Closed
29. 2024-03-20
    status Pending
30. 2024-01-10
    listed $234,900 Active

ⓘ 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: $41,676
• − Mortgage interest: −$13,382
• − Property taxes: −$3,584
• − Insurance: −$1,194
• − Repairs & maintenance: −$3,334
• − Management: −$3,334
• − Depreciation: −$6,950
• Taxable income: $9,898
• Est. tax owed @ 24.0%: −$2,375
• After-tax cash flow: $10,737/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

Fair 45/100 Moderate rehab

A moderately rehabbed multi-family property with average condition, requiring exterior updates and interior modernization to maximize resale and rental value.

Repairs flagged

• Moderate siding — Weathered and discolored
• Moderate exterior paint — Visible wear

Value-add opportunities

• Both update exterior paint and siding — Enhances curb appeal and value
• Both modernize kitchen and bathrooms — Improves functionality and aesthetics
• Both install energy-efficient HVAC — Reduces utility costs and enhances comfort

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Weathered and discolored	Moderate	$3,000–15,000
exterior paint · Visible wear	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both update exterior paint and siding — Enhances curb appeal and value ↑
• Both modernize kitchen and bathrooms — Improves functionality and aesthetics ↑
• Both install energy-efficient HVAC — Reduces utility costs and enhances comfort ↑

ⓘ 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: 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

+1.7% since first listed

15 events — show timeline

• 2026-04-06 Price Changed $238,900 BRIGHT MLS
• 2026-02-11 Price Changed $247,900 BRIGHT MLS
• 2026-01-16 Listed $259,900 BRIGHT MLS
• 2026-01-15 Listing Removed — BRIGHT MLS
• 2025-12-29 Price Changed $259,900 BRIGHT MLS
• 2025-11-12 Price Changed $279,900 BRIGHT MLS
• 2025-08-25 Price Changed $299,000 BRIGHT MLS
• 2025-08-19 Price Changed $318,500 BRIGHT MLS
• 2025-07-15 Listed $328,500 BRIGHT MLS
• 2025-07-14 Listing Removed — BRIGHT MLS
• 2025-05-20 Price Changed $328,500 BRIGHT MLS
• 2025-02-04 Listed $329,000 BRIGHT MLS
• 2024-03-22 Sold (MLS) $210,000 BRIGHT MLS
• 2024-03-20 Pending — BRIGHT MLS
• 2024-01-10 Listed $234,900 BRIGHT MLS