33 Clementon Rd W

Gibbsboro, NJ 08026

$235,000B-

3 bd · 1.5 ba · 1,496 sqft · Built 1965 · SingleFamily · Active · 340 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,313/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$899
• HOA: −$0
• Vac / Maint / Mgmt: −$696
• Net cashflow: $485/mo
• Annual: $5,825/yr
• Cap rate: 8.77%
• Cash-on-cash: 8.85%
• DSCR: 1.39
• 1% rule: 1.41%
• Cash to close: $65,800

Investor read

• This is a 3-bed/1.5-bath single-family listed at $235k.
• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• It's been on market 340 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 75/100 on livability (#156 in NJ, #4,007 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, cost of living F.
• Gibbsboro Elementary School (suburban): math 35% / reading 50% proficiency, ranked #431 of 612 in NJ (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 9% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 4.1% of price.
• Market conditions: 52 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $60k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.8% vs local median 3.7% in Gibbsboro — 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.

Questions for listing agent

• It's been on market 340 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.