700 N Franklin Blvd Unit 1401 #1401 Skyline Condos · Pleasantville, NJ 08232

$119,900

1 bd · 1.0 ba · 721 sqft · Condo · 100 Days on market

Built 1989 $340/mo HOA · 20% 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 +21.6/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained first-floor unit featuring modern upgrades throughout. This home boasts stainless steel appliances, updated countertops, and a cozy gas fireplace. Enjoy the convenience of an in-unit washer and dryer, paired with durable laminate and tile flooring. A true "pride of ownership" property, it has been meticulously cared for. Currently tenant-occupied at $1,145/month (month-to-month), with a scheduled vacancy this summer—perfect for an owner-occupant or an investor looking for a turnkey asset. Market rent is higher for this unit so could yield a better income with a new tenant.

Key facts

• $340 HOA
• Built 1989
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.5% in Pleasantville — 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 73/100 on livability (#194 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Pleasantville Public School District (suburban): math 6% / reading 28% proficiency, ranked #451 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $120k implies a 500% gain — meaningful room to come down on a strong offer.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 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: 1.43% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-7,530
• Equity at exit: $17,877

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $9,416
• Equity at exit: $10,367

Cash invested: $33,572 (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 08232

• Home prices YoY: -17.3%
• Active inventory: 84
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,711 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$340
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $183

Break-even live

Break-even rent $1,479

Max offer price $119,900

Occupancy floor 84%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Walnut Ave Pleasantville, NJ	2.0	1.0	684	$1,800	$2.63	13d	1	0.09mi
112 Atlantic Ave Pleasantville, NJ	1.0–2.0	1.0	640	$1,450	$2.26	21d	1	0.31mi
301 W Delilah Rd Pleasantville, NJ	1.0	1.0	528	$1,650	$3.12	21d	1	0.48mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-19
   days on market $119,900 Active 100 DOM
2. 2026-06-18
   days on market $119,900 Active 99 DOM
3. 2026-06-17
   days on market $119,900 Active 98 DOM
4. 2026-06-16
   days on market $119,900 Active 97 DOM
5. 2026-06-15
   days on market $119,900 Active 96 DOM
6. 2026-06-14
   days on market $119,900 Active 94 DOM
7. 2026-06-13
   days on market $119,900 Active 93 DOM
8. 2026-06-10
   days on market $119,900 Active 91 DOM
9. 2026-06-09
   days on market $119,900 Active 90 DOM
10. 2026-06-08
    days on market $119,900 Active 89 DOM
11. 2026-06-07
    days on market $119,900 Active 88 DOM
12. 2026-06-03
    days on market $119,900 Active 84 DOM
13. 2026-06-02
    days on market $119,900 Active 83 DOM
14. 2026-06-01
    days on market $119,900 Active 82 DOM
15. 2026-05-31
    days on market $119,900 Active 81 DOM
16. 2026-05-30
    days on market $119,900 Active 80 DOM
17. 2026-03-14
    price $119,900 618-char remark

    Show marketing remark (618 chars)

    Beautifully maintained first-floor unit featuring modern upgrades throughout. This home boasts stainless steel appliances, updated countertops, and a cozy gas fireplace. Enjoy the convenience of an in-unit washer and dryer, paired with durable laminate and tile flooring. A true "pride of ownership" property, it has been meticulously cared for. Currently tenant-occupied at $1,145/month (month-to-month), with a scheduled vacancy this summer—perfect for an owner-occupant or an investor looking for a turnkey asset. Market rent is higher for this unit so could yield a better income with a new tenant.

18. 2026-03-11
    listed $129,500 Active 618-char remark

    Show marketing remark (618 chars)

    Beautifully maintained first-floor unit featuring modern upgrades throughout. This home boasts stainless steel appliances, updated countertops, and a cozy gas fireplace. Enjoy the convenience of an in-unit washer and dryer, paired with durable laminate and tile flooring. A true "pride of ownership" property, it has been meticulously cared for. Currently tenant-occupied at $1,145/month (month-to-month), with a scheduled vacancy this summer—perfect for an owner-occupant or an investor looking for a turnkey asset. Market rent is higher for this unit so could yield a better income with a new tenant.

19. 2026-03-02
    historical 192-char remark

    Show marketing remark (192 chars)

    Pictures are from before current tenant moved in. Tenant currently month to month at $1145 monthly. Beautifully maintained first floor unit. Owners have always shown pride in their investment.

20. 2025-10-03
    price $129,500 192-char remark

    Show marketing remark (192 chars)

    Pictures are from before current tenant moved in. Tenant currently month to month at $1145 monthly. Beautifully maintained first floor unit. Owners have always shown pride in their investment.

21. 2025-09-13
    listed $132,900 Active 192-char remark

    Show marketing remark (192 chars)

    Pictures are from before current tenant moved in. Tenant currently month to month at $1145 monthly. Beautifully maintained first floor unit. Owners have always shown pride in their investment.

22. 2016-03-01
    soldstatus $20,000
23. 2016-03-01
    soldstatus $20,000 Sold
24. 2016-03-01
    soldstatus $20,000 Sold
25. 2016-02-23
    status Under Contract
26. 2016-02-18
    listed $26,000 Active
27. 2016-02-12
    price $26,000
28. 2016-02-11
    status Under Contract
29. 2016-02-09
    historical
30. 2016-02-08
    listed $26,000
31. 2016-02-08
    historical
32. 2016-01-14
    price $32,000
33. 2016-01-14
    price $26,000
34. 2015-12-10
    price $32,000
35. 2015-11-07
    listed $39,900 Active
36. 2015-11-04
    listed $26,000
37. 2013-07-08
    historical
38. 2012-07-07
    listed $36,000
39. 2012-07-02
    historical
40. 2011-08-16
    listed $33,000

ⓘ 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: $20,533
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − HOA: −$4,080
• − Depreciation: −$3,488
• Taxable income: $565
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $2,062/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: Pleasantville Public School District
• NCES district ID: 3413200
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $39,569
• Composite: 14.34/100
• National rank: #9440
• State rank: #451 of 472 in NJ

Livability — Pleasantville

• Score: 73/100
• State rank: #194
• US rank: #5487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasantville, NJ
• Population (ZIP): 20,200

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 52% Black 33% Two or more races 22% White 6% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 12% Dominican 14%
• Common ancestry: Hispanic 1%
• Foreign-born: 30% · Canada, Jamaica, Vietnam
• Languages at home: 44% English-only · Spanish 48% French/Haitian/Cajun 5% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.51%
• Current HPI: 346.2085
• 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

+263.3% since first listed

24 events — show timeline

• 2026-03-14 Price Changed $119,900 SJSRMLS
• 2026-03-11 Listed $129,500 SJSRMLS
• 2026-03-02 Listing Removed — SJSRMLS
• 2025-10-03 Price Changed $129,500 SJSRMLS
• 2025-09-13 Listed $132,900 SJSRMLS
• 2016-03-01 Sold (MLS) $20,000 TREND
• 2016-03-01 Sold (MLS) $20,000 SJSRMLS
• 2016-03-01 Sold (MLS) $20,000 BRIGHT MLS
• 2016-02-23 Pending — TREND
• 2016-02-18 Listed $26,000 TREND
• 2016-02-12 Price Changed $26,000 SJSRMLS
• 2016-02-11 Relisted — SJSRMLS
• 2016-02-09 Listing Removed — SJSRMLS
• 2016-02-08 Listing Removed — BRIGHT MLS
• 2016-02-08 Listed $26,000 BRIGHT MLS
• 2016-01-14 Price Changed $26,000 SJSRMLS
• 2016-01-14 Price Changed $32,000 SJSRMLS
• 2015-12-10 Price Changed $32,000 SJSRMLS
• 2015-11-07 Listed $39,900 SJSRMLS
• 2015-11-04 Listed $26,000 BRIGHT MLS
• 2013-07-08 Listing Removed — SJSRMLS
• 2012-07-07 Listed $36,000 SJSRMLS
• 2012-07-02 Listing Removed — SJSRMLS
• 2011-08-16 Listed $33,000 SJSRMLS