130 Iroquois Dr #130 · Smithville, NJ 08205

$187,500

2 bd · 2.0 ba · 1,110 sqft · Condo · 7 Days on market

Built 1988 $240/mo HOA · 12% of rent

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Why this score? — see what drove the D 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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• DSCR +3.9/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of comfort and convenience in this charming, first floor, 2-bedroom, 2-bathroom condo located at 130 Iroquois Drive in the heart of Galloway. This inviting home features a spacious, sun-drenched living area with durable carpeting and sliding glass doors that open to a private outdoor balcony, perfect for enjoying the serene wooded views. The functional kitchen is designed for efficiency, boasting stylish blue cabinetry, ample counter space for meal prep, and a clever pot rack that keeps your essentials within reach. Retiring for the evening is a pleasure in the generously sized master suite, which offers a private ensuite bathroom and a large walk-in closet. Designed for modern living, this unit includes the ultimate convenience of an in-unit washer and dryer. The second bedroom is equally versatile, ideal for a guest room, home office, or nursery, and is situated near the well-appointed second full bathroom. Neutral paint tones throughout provide a clean slate for your personal touch, while the open-concept layout makes the space feel airy and interconnected. Located just minutes from local shopping, dining, and major roadways, this condo offers a fantastic opportunity for first-time homebuyers, downsizers, or those seeking a low-maintenance lifestyle in a prime New Jersey location.

Key facts

• Functional kitchen
• Master suite
• Ample counter space

Tags

• PRIVATE OUTDOOR BALCONY
• FUNCTIONAL KITCHEN
• BLUE CABINETRY
• AMPLE COUNTER SPACE
• POT RACK
• MASTER SUITE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $188k.

Deal economics

• At list price, monthly cash flow is $-11 ($-127/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (0.8% below list).
• Meets the 1% rule at list price ($2k rent vs $188k).
• Recommended offer: $186k (0.8% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 3.9% in Smithville — 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 64/100 on livability (#402 in NJ) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: cost of living C-, amenities F, commute F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 240 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 $85k; list at $188k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $185,967 (0.8% below list)

Questions for the listing agent

1. 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?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 8.1

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-30,881
• Equity at exit: $27,957

10-year hold

• IRR: -8.2%
• Equity multiple: 0.48×
• Total profit: $-27,042
• Equity at exit: $16,212

Cash invested: $52,500 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 240
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,931 medium
• Mortgage (P&I): −$983
• Tax est. 1.5%: −$234 /mo · $2,812/yr
• Insurance: −$78
• HOA: −$240
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-11

Break-even live

Break-even rent $1,944

Max offer price $185,967

Occupancy floor 96%

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: $46,875
• Closing costs: $5,625
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Iroquois Dr Galloway, NJ	2.0	1.0	855	$1,800	$2.11	13d	1	0.08mi
31 Arapaho Pl Unit 1 Galloway, NJ	2.0	1.0	855	$2,100	$2.46	13d	1	0.70mi
180 Walden Way Galloway, NJ	1.0–3.0	1.0–2.5	1037	$2,319	$2.24	1d	1	0.92mi
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	21d	1	1.49mi

HOA detail condo

• Monthly dues: $240 · $2,880/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-19
   days on market $187,500 Active 7 DOM
2. 2026-06-18
   days on market $187,500 Active 6 DOM
3. 2026-06-17
   days on market $187,500 Active 5 DOM
4. 2026-06-16
   days on market $187,500 Active 4 DOM
5. 2026-06-15
   days on market $187,500 Active 3 DOM
6. 2026-06-13
   pricestatusdays on marketlisting id $187,500 Active 1 DOM
7. 2026-03-23
   price $189,000 1331-char remark

   Show marketing remark (1331 chars)

   Discover the perfect blend of comfort and convenience in this charming, first floor, 2-bedroom, 2-bathroom condo located at 130 Iroquois Drive in the heart of Galloway. This inviting home features a spacious, sun-drenched living area with durable carpeting and sliding glass doors that open to a private outdoor balcony, perfect for enjoying the serene wooded views. The functional kitchen is designed for efficiency, boasting stylish blue cabinetry, ample counter space for meal prep, and a clever pot rack that keeps your essentials within reach. Retiring for the evening is a pleasure in the generously sized master suite, which offers a private ensuite bathroom and a large walk-in closet. Designed for modern living, this unit includes the ultimate convenience of an in-unit washer and dryer. The second bedroom is equally versatile, ideal for a guest room, home office, or nursery, and is situated near the well-appointed second full bathroom. Neutral paint tones throughout provide a clean slate for your personal touch, while the open-concept layout makes the space feel airy and interconnected. Located just minutes from local shopping, dining, and major roadways, this condo offers a fantastic opportunity for first-time homebuyers, downsizers, or those seeking a low-maintenance lifestyle in a prime New Jersey location.

8. 2026-03-06
   listed $197,000 Active 1331-char remark

   Show marketing remark (1331 chars)

   Discover the perfect blend of comfort and convenience in this charming, first floor, 2-bedroom, 2-bathroom condo located at 130 Iroquois Drive in the heart of Galloway. This inviting home features a spacious, sun-drenched living area with durable carpeting and sliding glass doors that open to a private outdoor balcony, perfect for enjoying the serene wooded views. The functional kitchen is designed for efficiency, boasting stylish blue cabinetry, ample counter space for meal prep, and a clever pot rack that keeps your essentials within reach. Retiring for the evening is a pleasure in the generously sized master suite, which offers a private ensuite bathroom and a large walk-in closet. Designed for modern living, this unit includes the ultimate convenience of an in-unit washer and dryer. The second bedroom is equally versatile, ideal for a guest room, home office, or nursery, and is situated near the well-appointed second full bathroom. Neutral paint tones throughout provide a clean slate for your personal touch, while the open-concept layout makes the space feel airy and interconnected. Located just minutes from local shopping, dining, and major roadways, this condo offers a fantastic opportunity for first-time homebuyers, downsizers, or those seeking a low-maintenance lifestyle in a prime New Jersey location.

9. 2011-08-31
   soldstatus $84,900 297-char remark

   Show marketing remark (297 chars)

   Beautiful first floor unit with open layout, new carpet & Pergo Laminate in Dining area. Sliders to fenced in porch overlooking private park like setting with beautiful garden area. Large master bedroom w/ walk in closet & renov. master bath. This unit is ready for immediate occupancy

10. 2011-07-22
    historical 297-char remark

    Show marketing remark (297 chars)

    Beautiful first floor unit with open layout, new carpet & Pergo Laminate in Dining area. Sliders to fenced in porch overlooking private park like setting with beautiful garden area. Large master bedroom w/ walk in closet & renov. master bath. This unit is ready for immediate occupancy

11. 2011-06-13
    listed $84,900 297-char remark

    Show marketing remark (297 chars)

    Beautiful first floor unit with open layout, new carpet & Pergo Laminate in Dining area. Sliders to fenced in porch overlooking private park like setting with beautiful garden area. Large master bedroom w/ walk in closet & renov. master bath. This unit is ready for immediate occupancy

12. 2002-08-29
    soldstatus $76,900
13. 2002-07-24
    historical
14. 2002-06-26
    listed $74,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,167
• − Mortgage interest: −$10,503
• − Property taxes: −$2,812
• − Insurance: −$938
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − HOA: −$2,880
• − Depreciation: −$5,455
• Taxable loss: −$3,127
• Est. tax savings @ 24.0%: +$750
• After-tax cash flow: $623/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: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Smithville

• Score: 64/100
• State rank: #402
• US rank: #13992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithville, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 28,877
• Household income: $93,370
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 732.0

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 0.58)
• Race & ethnicity: White 62% Hispanic / Latino 14% Two or more races 12% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 7% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 7% Russian/Polish/Slavic 3%

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: ▼ -44.12%
• Current HPI: 315.4814
• Rent YoY: —
• Metro: Atlantic City-Hammonton, 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

+152.3% since first listed

8 events — show timeline

• 2026-03-23 Price Changed $189,000 SJSRMLS
• 2026-03-06 Listed $197,000 SJSRMLS
• 2011-08-31 Sold (MLS) $84,900 SJSRMLS
• 2011-07-22 Listing Removed — SJSRMLS
• 2011-06-13 Listed $84,900 SJSRMLS
• 2002-08-29 Sold (MLS) $76,900 SJSRMLS
• 2002-07-24 Listing Removed — SJSRMLS
• 2002-06-26 Listed $74,900 SJSRMLS