31 S Myrtle St · Vineland, NJ 08360

$300,000

6 bd · 4.0 ba · 1,396 sqft · MultiFamily public records · 7 Days on market

Built 1890 10,202 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great Investment property! Fully rented duplex in Vineland. Public water and sewer. Downstairs unit has 2 bedrooms 1 bathroom and the upstairs unit has 1 bedroom and 1 bathroom. Upstairs unit has recently been completely re-done.

Key facts

• Tenant occupied
• Rental market
• Turnkey duplex

Tags

• TURNKEY DUPLEX
• TENANT OCCUPIED
• RENTAL MARKET
• RENOVATED UNIT

Property features AI

Finance

• Financial info: Fee simple ownership

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas available for heating and hot water
• Home design: Detached property; 2 stories
• Construction: Frame construction; Block foundation; Above-grade and below-grade structures; Built year sourced from assessor
• Exterior features: Lot approximately 50 x 204 feet; No tidal water

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Heating & cooling: Radiator heating; Natural gas heating and hot water; Window air conditioning units (electric)
• Interior features: Full, unfinished basement with interior access; Two total levels; Two-unit building (Unit 1, Unit 2)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 10.8% vs local median 4.5% in Vineland — 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 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Vineland Public School District (urban): math 9% / reading 34% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 173 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• At $3,973/mo this rent would consume 73% of the median local household income ($65k/yr) (locally 1328% 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 $9k 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 + 3.0% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $225k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $300,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.32% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• GRM: 6.3

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $22,783
• Equity at exit: $44,731

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $111,844
• Equity at exit: $25,939

Cash invested: $84,000 (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 08360

• Active inventory: 173
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $3,973 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$320 /mo · $3,838/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$834
• Net cashflow: $1,121

Break-even live

Break-even rent $2,555

Max offer price $300,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,974
Total (2 units)			$3,973

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $300,000 Active 7 DOM
2. 2026-06-18
   days on market $300,000 Active 6 DOM
3. 2026-06-17
   days on market $300,000 Active 5 DOM
4. 2026-06-16
   days on market $300,000 Active 4 DOM
5. 2026-06-15
   days on market $300,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $300,000 Active 1 DOM

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $3,838 · $320/mo
• Projected year-2 tax: $5,654 · $471/mo
• Expected delta: +$1,816/yr (+$151/mo · 47.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,676
• − Mortgage interest: −$16,805
• − Property taxes: −$3,838
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,814
• − Management: −$3,814
• − Depreciation: −$8,727
• Taxable income: $9,177
• Est. tax owed @ 24.0%: −$2,203
• After-tax cash flow: $11,244/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: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• County: Cumberland County · 80,266 people
• City population: 45,038
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 45,038
• Household income: $65,359
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1328.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 51% White 32% Two or more races 17% Black 11% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 33% Dominican 2%
• Common ancestry: Romanian 2% Subsaharan African 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 37% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -320.06%
• Current HPI: 278.786
• Rent YoY: —
• 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

+1053.8% since first listed

19 events — show timeline

• 2026-06-12 Listed $300,000 BRIGHT MLS
• 2026-01-17 Rental Removed $1,295 APPFOLIO
• 2026-01-08 Price Changed $1,295 APPFOLIO
• 2025-12-11 Price Changed $1,350 APPFOLIO
• 2025-12-05 Listed for Rent $1,425 APPFOLIO
• 2024-09-03 Sold (MLS) $225,000 BRIGHT MLS
• 2024-08-13 Pending — BRIGHT MLS
• 2024-08-10 Listed $195,000 BRIGHT MLS
• 2021-05-19 Sold (Public Records) $90,000 Public Records
• 2021-05-07 Listing Removed — BRIGHT MLS
• 2021-03-30 Price Changed $135,000 BRIGHT MLS
• 2021-03-12 Listed $149,000 BRIGHT MLS
• 2020-02-27 Sold (Public Records) $75,200 Public Records
• 2020-01-06 Listing Removed — BRIGHT MLS
• 2019-11-14 Listed $94,500 BRIGHT MLS
• 2008-07-31 Listing Removed — BRIGHT MLS
• 2008-01-01 Listed $144,900 BRIGHT MLS
• 2006-10-03 Sold (Public Records) $90,000 Public Records
• 1980-09-18 Sold (Public Records) $26,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,838 · +3.9% YoY. Source: county tax records.