134 Centura

Cherry Hill, NJ 08003

$144,900C-

2 bd · 2.0 ba · 1,442 sqft · Built 1980 · Condo · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,975/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$538
• HOA: −$925
• Vac / Maint / Mgmt: −$625
• Net cashflow: $127/mo
• Annual: $1,529/yr
• Cap rate: 7.35%
• Cash-on-cash: 3.77%
• DSCR: 1.17
• 1% rule: 2.05%
• Cash to close: $40,572

Investor read

• This is a 2-bed/2.0-bath condo listed at $145k.
• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• It's been on market 19 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Cherry Hill High School East (math 33% / reading 62%, grade D, #121 of 399 statewide, top 31%, 2,087 students, 11% FRL) — zoned schools at 11% FRL track the district average.
• Watch-outs: property tax is 4.0% of price; HOA is 31% of rent.
• Market conditions: 145 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• 8 sale attempts since 20y 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.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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 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.