13-2 Florence Tollgate · Florence, NJ 08518

$109,000

1 bd · 1.0 ba · 774 sqft · SingleFamily · 48 Days on market

Built 1974 Good condition $141/sqft · 8% below area Est $119k · 8% under $719/mo HOA · 38% of rent

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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 +13.6/30.0
• ARV discount +11.2/15.0
• 1% rule +10.0/10.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This upgraded one bedroom Florence Tollgate condo is located on the ground level and offers waterproof vinyl flooring throughout. The recently painted walls have white chair rails and are accented with two tone gray-based walls that present a very clean and neat look. The entry door leads you into an open floor plan with the connected living room and dining area. The passageway opening from the dining room into the kitchen completes the nice open floor plan. There are white cabinets and appliances, and an added counter space with additional base cabinets on the half wall of the passage window. The dining room has a patio sliding glass door for easy access to your concrete patio and your vehicle parking lot. The bedroom is found at the end of the hallway and is adjacent to the bathroom. The remodeled bathroom offers a step-in shower for easy access. There are many storage closets leading through the hallway, which offer plenty of additional storage in this unit. A hallway linen closet is provided, as well. The monthly association fee includes your heat, water, and sewer, and allows for pool permits during the season. The low taxes make this a very affordable unit for the occupancy as a resident or for the investor looking to add to their financial portfolio. These units are within 1 mile of the River Line Train station and close to the public bus routes. For commuters, this ideal location allows easy access to all major roadways and to Philadelphia and NYC. The town offers many conveniences such as delicatessens, drug stores, restaurants, post offices, and local schools. The historic Roebling Museum, many parks, and recreational trails are found in town for your exploration and exercise. This is one of those units that will entice you to purchase.

Key facts

• All new windows
• Brand new kitchen
• New exterior door

Tags

• BRAND NEW KITCHEN
• ELEGANT QUARTZ COUNTERTOPS
• ALL NEW WINDOWS
• NEW EXTERIOR DOOR
• COMPLETELY UPDATED BATHROOM
• TEMPERED GLASS SHOWER DOOR

Property features AI

Finance

• Other: Ground rent paid annually
• HOA & community: Monthly condo/HOA fee (amount not restated here); HOA covers water, sewer, heat, ground fee, common area maintenance, management, pools, and snow removal; Community amenities include outdoor pool and clubhouse; Property manager present; Pets allowed (cats and dogs permitted)

Exterior

• Parking: Paved parking in a parking lot
• Utilities: Public water; Public sewer; Electric service
• Home design: Condominium unit in a garden-style building (1–4 floors); Unit/flat; Entry on level 1; Building winterized; Excellent property condition; Facing information not provided
• Construction: Brick and vinyl siding exterior; Architectural shingle roof; Slab foundation; Year built/effective remodel: 2026 (assessor)
• Exterior features: Community outdoor pool; Above-grade and below-grade structures; Not in a federal flood zone

Interior

• Kitchen: Refrigerator; Microwave; Electric oven/range
• Bedrooms: One bedroom on the main level
• Flooring: Laminate plank flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Electric hot water
• Interior features: Walk-in shower bathroom; Entry-level bedroom; Window treatments; Living room; Dining room; Kitchen
• Laundry & utility: Washer in unit; Dryer in unit; Washer/dryer hookups on main floor

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $109k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5 ($66/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.6% in Florence — 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 71/100 on livability (#255 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, crime A-; Watch: amenities F, health & safety F.
• Florence Township School District (suburban): math 19% / reading 45% proficiency, ranked #301 of 472 in NJ (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roebling Elementary School (math 12% / reading 17%, grade F, #1,143 of 1,303 statewide, top 88%, 373 students, 40% FRL); Florence Riverfront School (math 17% / reading 47%, grade F, #285 of 431 statewide, top 67%, 649 students, 34% FRL).
• Market conditions: 40 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $20k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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: 1.72% ✓
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 4.9

CMA / ARV

• ARV (median comp): $118,750
• List price: $109,000
• Delta: -8.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
445 E 5th St E	0.41mi	2/1.0 (+1)	840 (+8%)	9mo	$295,000	$351	54

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-16,843
• Equity at exit: $16,252

10-year hold

• IRR: -6.1%
• Equity multiple: 0.60×
• Total profit: $-12,307
• Equity at exit: $9,424

Cash invested: $30,520 (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 08518

• Home prices YoY: -22.6%
• Active inventory: 40
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,871 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$719
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $5

Break-even live

Break-even rent $1,864

Max offer price $109,000

Occupancy floor 95%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Florence Tollgate Unit 7 Florence, NJ	2.0	1.5	960	$1,950	$2.03	5d	1	0.11mi
20 Florence Tollgate Pl #1 Florence, NJ	1.0	1.0	774	$1,800	$2.33	14d	1	0.14mi
21 Florence Tollgate Pl #4 Florence, NJ	2.0	1.0	960	$1,850	$1.93	14d	1	0.16mi
225 W 2nd St Florence, NJ	1.0	1.0	733	$674	$0.92	43d	1	0.57mi

HOA detail

• Monthly dues: $719 · $8,628/yr
• Likely covers: watersewerpool

Listing history 27 events

1. 2026-06-18
   days on market $109,000 Active 48 DOM
2. 2026-06-17
   days on market $109,000 Active 47 DOM
3. 2026-06-16
   days on market $109,000 Active 46 DOM
4. 2026-06-15
   days on market $109,000 Active 45 DOM
5. 2026-06-13
   days on market $109,000 Active 43 DOM
6. 2026-06-13
   days on market $109,000 Active 42 DOM
7. 2026-06-10
   price $109,000 Active 39 DOM
8. 2026-06-09
   days on market $129,000 Active 39 DOM
9. 2026-06-08
   days on market $129,000 Active 38 DOM
10. 2026-06-07
    days on market $129,000 Active 37 DOM
11. 2026-06-04
    days on market $129,000 Active 34 DOM
12. 2026-06-03
    days on market $129,000 Active 33 DOM
13. 2026-06-02
    days on market $129,000 Active 32 DOM
14. 2026-06-01
    days on market $129,000 Active 31 DOM
15. 2026-05-31
    days on market $129,000 Active 30 DOM
16. 2026-05-01
    listed $129,000 Active 729-char remark
17. 2025-12-12
    soldstatus $100,000 Closed 1776-char remark

    Show marketing remark (1776 chars)

    This upgraded one bedroom Florence Tollgate condo is located on the ground level and offers waterproof vinyl flooring throughout. The recently painted walls have white chair rails and are accented with two tone gray-based walls that present a very clean and neat look. The entry door leads you into an open floor plan with the connected living room and dining area. The passageway opening from the dining room into the kitchen completes the nice open floor plan. There are white cabinets and appliances, and an added counter space with additional base cabinets on the half wall of the passage window. The dining room has a patio sliding glass door for easy access to your concrete patio and your vehicle parking lot. The bedroom is found at the end of the hallway and is adjacent to the bathroom. The remodeled bathroom offers a step-in shower for easy access. There are many storage closets leading through the hallway, which offer plenty of additional storage in this unit. A hallway linen closet is provided, as well. The monthly association fee includes your heat, water, and sewer, and allows for pool permits during the season. The low taxes make this a very affordable unit for the occupancy as a resident or for the investor looking to add to their financial portfolio. These units are within 1 mile of the River Line Train station and close to the public bus routes. For commuters, this ideal location allows easy access to all major roadways and to Philadelphia and NYC. The town offers many conveniences such as delicatessens, drug stores, restaurants, post offices, and local schools. The historic Roebling Museum, many parks, and recreational trails are found in town for your exploration and exercise. This is one of those units that will entice you to purchase.

18. 2025-11-10
    historical Active Under Contract 1776-char remark

    Show marketing remark (1776 chars)

    This upgraded one bedroom Florence Tollgate condo is located on the ground level and offers waterproof vinyl flooring throughout. The recently painted walls have white chair rails and are accented with two tone gray-based walls that present a very clean and neat look. The entry door leads you into an open floor plan with the connected living room and dining area. The passageway opening from the dining room into the kitchen completes the nice open floor plan. There are white cabinets and appliances, and an added counter space with additional base cabinets on the half wall of the passage window. The dining room has a patio sliding glass door for easy access to your concrete patio and your vehicle parking lot. The bedroom is found at the end of the hallway and is adjacent to the bathroom. The remodeled bathroom offers a step-in shower for easy access. There are many storage closets leading through the hallway, which offer plenty of additional storage in this unit. A hallway linen closet is provided, as well. The monthly association fee includes your heat, water, and sewer, and allows for pool permits during the season. The low taxes make this a very affordable unit for the occupancy as a resident or for the investor looking to add to their financial portfolio. These units are within 1 mile of the River Line Train station and close to the public bus routes. For commuters, this ideal location allows easy access to all major roadways and to Philadelphia and NYC. The town offers many conveniences such as delicatessens, drug stores, restaurants, post offices, and local schools. The historic Roebling Museum, many parks, and recreational trails are found in town for your exploration and exercise. This is one of those units that will entice you to purchase.

19. 2025-09-24
    price $108,000 1776-char remark

    Show marketing remark (1776 chars)

    This upgraded one bedroom Florence Tollgate condo is located on the ground level and offers waterproof vinyl flooring throughout. The recently painted walls have white chair rails and are accented with two tone gray-based walls that present a very clean and neat look. The entry door leads you into an open floor plan with the connected living room and dining area. The passageway opening from the dining room into the kitchen completes the nice open floor plan. There are white cabinets and appliances, and an added counter space with additional base cabinets on the half wall of the passage window. The dining room has a patio sliding glass door for easy access to your concrete patio and your vehicle parking lot. The bedroom is found at the end of the hallway and is adjacent to the bathroom. The remodeled bathroom offers a step-in shower for easy access. There are many storage closets leading through the hallway, which offer plenty of additional storage in this unit. A hallway linen closet is provided, as well. The monthly association fee includes your heat, water, and sewer, and allows for pool permits during the season. The low taxes make this a very affordable unit for the occupancy as a resident or for the investor looking to add to their financial portfolio. These units are within 1 mile of the River Line Train station and close to the public bus routes. For commuters, this ideal location allows easy access to all major roadways and to Philadelphia and NYC. The town offers many conveniences such as delicatessens, drug stores, restaurants, post offices, and local schools. The historic Roebling Museum, many parks, and recreational trails are found in town for your exploration and exercise. This is one of those units that will entice you to purchase.

20. 2025-09-18
    price $118,000 1776-char remark

    Show marketing remark (1776 chars)

    This upgraded one bedroom Florence Tollgate condo is located on the ground level and offers waterproof vinyl flooring throughout. The recently painted walls have white chair rails and are accented with two tone gray-based walls that present a very clean and neat look. The entry door leads you into an open floor plan with the connected living room and dining area. The passageway opening from the dining room into the kitchen completes the nice open floor plan. There are white cabinets and appliances, and an added counter space with additional base cabinets on the half wall of the passage window. The dining room has a patio sliding glass door for easy access to your concrete patio and your vehicle parking lot. The bedroom is found at the end of the hallway and is adjacent to the bathroom. The remodeled bathroom offers a step-in shower for easy access. There are many storage closets leading through the hallway, which offer plenty of additional storage in this unit. A hallway linen closet is provided, as well. The monthly association fee includes your heat, water, and sewer, and allows for pool permits during the season. The low taxes make this a very affordable unit for the occupancy as a resident or for the investor looking to add to their financial portfolio. These units are within 1 mile of the River Line Train station and close to the public bus routes. For commuters, this ideal location allows easy access to all major roadways and to Philadelphia and NYC. The town offers many conveniences such as delicatessens, drug stores, restaurants, post offices, and local schools. The historic Roebling Museum, many parks, and recreational trails are found in town for your exploration and exercise. This is one of those units that will entice you to purchase.

21. 2025-09-05
    listed $126,000 Active 1776-char remark

    Show marketing remark (1776 chars)

    This upgraded one bedroom Florence Tollgate condo is located on the ground level and offers waterproof vinyl flooring throughout. The recently painted walls have white chair rails and are accented with two tone gray-based walls that present a very clean and neat look. The entry door leads you into an open floor plan with the connected living room and dining area. The passageway opening from the dining room into the kitchen completes the nice open floor plan. There are white cabinets and appliances, and an added counter space with additional base cabinets on the half wall of the passage window. The dining room has a patio sliding glass door for easy access to your concrete patio and your vehicle parking lot. The bedroom is found at the end of the hallway and is adjacent to the bathroom. The remodeled bathroom offers a step-in shower for easy access. There are many storage closets leading through the hallway, which offer plenty of additional storage in this unit. A hallway linen closet is provided, as well. The monthly association fee includes your heat, water, and sewer, and allows for pool permits during the season. The low taxes make this a very affordable unit for the occupancy as a resident or for the investor looking to add to their financial portfolio. These units are within 1 mile of the River Line Train station and close to the public bus routes. For commuters, this ideal location allows easy access to all major roadways and to Philadelphia and NYC. The town offers many conveniences such as delicatessens, drug stores, restaurants, post offices, and local schools. The historic Roebling Museum, many parks, and recreational trails are found in town for your exploration and exercise. This is one of those units that will entice you to purchase.

22. 2025-04-20
    historical $1,650
23. 2025-03-19
    listed $1,650
24. 2024-12-31
    historical $1,700
25. 2024-11-01
    listed $1,700
26. 2024-03-29
    historical $1,500
27. 2024-03-22
    listed $1,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,447
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − HOA: −$8,628
• − Depreciation: −$3,171
• Taxable loss: −$1,229
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $361/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 80/100 Cosmetic rehab

This move-in ready, well-maintained 1-bedroom, 1-bath condo offers modern comfort and style throughout.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the entryway mat — Improves first impression and cleanliness
• Both Install new window treatments — Enhances aesthetics and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the entryway mat — Improves first impression and cleanliness ↑
• Both Install new window treatments — Enhances aesthetics and energy efficiency ↑

ⓘ 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: Florence Township School District
• NCES district ID: 3405220
• Math proficiency: 19% ▼ -17.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $77,044
• Composite: 30.34/100
• National rank: #6266
• State rank: #301 of 472 in NJ

Livability — Florence

• Score: 71/100
• State rank: #255
• US rank: #7317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, NJ
• City population: 5,830
• Population (ZIP): 5,830

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 13% Two or more races 9% Asian 8% Black 7%
• Hispanic origin (detail): Puerto Rican 7% Cuban 4%
• Common ancestry: Romanian 10% Italian 5% Slovene 3%
• Foreign-born: 13% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 6% Other Indo-European 4% Other Asian/Pacific 4%

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.00%
• Current HPI: 319.1503
• 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

+7166.7% since first listed

13 events — show timeline

• 2026-06-10 Price Changed $109,000 BRIGHT MLS
• 2026-05-01 Listed $129,000 BRIGHT MLS
• 2025-12-12 Sold (MLS) $100,000 BRIGHT MLS
• 2025-11-10 Contingent — BRIGHT MLS
• 2025-09-24 Price Changed $108,000 BRIGHT MLS
• 2025-09-18 Price Changed $118,000 BRIGHT MLS
• 2025-09-05 Listed $126,000 BRIGHT MLS
• 2025-04-20 Rental Removed $1,650 BRIGHTMLS
• 2025-03-19 Listed for Rent $1,650 BRIGHTMLS
• 2024-12-31 Rental Removed $1,700 BRIGHTMLS
• 2024-11-01 Listed for Rent $1,700 BRIGHTMLS
• 2024-03-29 Rental Removed $1,500 BRIGHTMLS
• 2024-03-22 Listed for Rent $1,500 BRIGHTMLS