75 Washington Ave

Keansburg, NJ 07734

$329,900D

4 bd · 1.0 ba · 1,596 sqft · Built 1918 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,189/mo
• Mortgage (P&I): −$1,730
• Tax + insurance: −$1,354
• HOA: −$0
• Vac / Maint / Mgmt: −$670
• Net cashflow: $-565/mo
• Annual: $-6,776/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.35%
• DSCR: 0.94
• 1% rule: 0.97%
• Cash to close: $92,372

Investor read

• This is a 4-bed/1.0-bath single-family listed at $330k.
• At list price, monthly cash flow is $-565 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $319k (3.3% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $230k (30.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#355 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living D, amenities F, commute F.
• Keansburg School District (suburban): math 6% / reading 30% proficiency, ranked #443 of 472 in NJ (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Joseph C. Caruso School (math 7% / reading 26%, grade F, #1,094 of 1,303 statewide, top 85%, 667 students, 49% FRL); Joseph R. Bolger Middle School (math 6% / reading 35%, grade F, #391 of 431 statewide, top 91%, 335 students, 47% FRL); Keansburg High School (math 8% / reading 32%, grade F, #354 of 399 statewide, top 89%, 388 students, 40% FRL).
• Watch-outs: property tax is 2.7% of price; flood insurance adds $460/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 108 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,840 units permitted in Monmouth County in 2024 (484 in 5+ unit buildings).
• Monmouth County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $40k; list at $330k implies a 727% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 3.2% in Keansburg — 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.
• At $3,189/mo this rent would consume 47% of the median local household income ($82k/yr) (locally 485% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1918 — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.