463D Portsmouth Dr #1004 · Leisure Village, NJ 08701

$179,000

2 bd · 1.0 ba · 982 sqft · SingleFamily · 72 Days on market

Built 1969 1,306 sqft lot $182/sqft · at area comps Est $184k · at est. $404/mo HOA · 19% 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 +14.6/30.0
• ARV discount +8.7/15.0
• 1% rule +6.9/10.0
• DSCR +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely 2 bedroom Baronet Model end unit has been meticulously cared for and updated, offering the perfect maintenance-free opportunity. The home welcomes you with newer paint and carpeting and an inviting eat-in kitchen. Enjoy the convenience of a 1-car garage with direct access and additional storage area as well as the added bonus of an enclosed front porch, your new favorite spot for morning coffee or evening unwinding. Leisure Village is renowned for its incredible amenities, including two clubhouses, two outdoor pools, an exercise room, walking trails, and beautiful lake views with a golf course nearby. Take advantage of the community bus service and a robust calendar of clubs and activities. Minutes to major shopping, top restaurants, Route 70, and the Garden State Parkway!

Key facts

• 1,306 sq ft lot
• Garage
• Pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $44 ($528/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#416 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B; Watch: amenities F, commute F, employment F.
• Lakewood Township School District (suburban): math 17% / reading 28% proficiency, ranked #417 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oak Street Elem School (math 17% / reading 21%, grade F, #1,030 of 1,303 statewide, top 80%, 534 students, 97% FRL); Lakewood Middle School (math 16% / reading 30%, grade F, #376 of 431 statewide, top 88%, 995 students, 94% FRL); Lakewood High School (math 14% / reading 37%, grade F, #321 of 399 statewide, top 81%, 1,423 students, 86% FRL).
• Market conditions: 426 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 39% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 7.0

CMA / ARV

• ARV (median comp): $183,885
• List price: $179,000
• Delta: -2.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
465D Thornbury Ct	0.04mi	2/1.0	982 (0%)	2mo	$205,000	$209	96
530 Portsmouth Dr Unit D	0.19mi	2/1.0	982 (0%)	2mo	$196,000	$200	90
404A Picardy Ct	0.22mi	2/1.0	982 (0%)	1mo	$235,000	$239	89
562 Portsmouth Dr Unit 562C	0.23mi	2/1.0	982 (0%)	2mo	$187,000	$190	88
569A Sheffield Ct	0.28mi	2/1.0	982 (0%)	0mo	$1,169,900	$1,191	87
500B Thornbury Ct Unit B	0.09mi	2/1.0	1,078 (+10%)	1mo	$216,000	$200	79
402 Picardy Ct Unit B	0.25mi	2/1.0	1,036 (+6%)	0mo	$259,900	$251	79
2246 Agincourt Rd	0.38mi	2/2.0	1,030 (+5%)	1mo	$260,000	$252	69
51A Cambridge Ct	0.74mi	2/1.0	987 (+0%)	2mo	$140,000	$142	63
243D Jefferson Ct	0.70mi	2/1.0	1,036 (+6%)	0mo	$170,000	$164	58
337C Canterbury Ct	0.66mi	2/1.0	1,078 (+10%)	1mo	$160,000	$148	52
224 Sophee Ln	0.65mi	1/1.0 (-1)	889 (-10%)	0mo	$172,000	$193	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-25,924
• Equity at exit: $26,689

10-year hold

• IRR: -5.4%
• Equity multiple: 0.64×
• Total profit: $-17,828
• Equity at exit: $15,477

Cash invested: $50,120 (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 08701

• Active inventory: 426
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$404
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $44

Break-even live

Break-even rent $2,077

Max offer price $179,000

Occupancy floor 93%

Sensitivity live

Price	-10% $168	-5% $106	+0% $44	+5% $-18	+10% $-80
Rent	-10% $-125	-5% $-40	+0% $44	+5% $128	+10% $212
Rate	-1.0pp $134	-0.5pp $90	base $44	+0.5pp $-2	+1.0pp $-50

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 Buckingham Ct Lakewood, NJ	1.0	1.0	663	$1,900	$2.87	45d	1	0.47mi
335A Canterbury Ct Lakewood, NJ	2.0	1.0	982	$1,950	$1.99	20d	1	0.62mi
341B Canterbury Ct Lakewood, NJ	2.0	1.0	982	$2,275	$2.32	24d	1	0.66mi
523 Sophee Ln #1000 Lakewood, NJ	1.0	1.0	889	$1,800	$2.02	0d	1	0.74mi
47L Cambridge Ct Lakewood, NJ	2.0	1.0	841	$1,795	$2.13	26d	1	0.74mi
106A Edinburgh Ln Lakewood, NJ	2.0	1.0	858	$2,200	$2.56	19d	1	0.81mi
278C Kingston Ct Lakewood, NJ	2.0	1.0	1000	$2,250	$2.25	3d	1	0.86mi
1100 Deer Path Lakewood, NJ	2.0	1.0–1.5	1187	$2,575	$2.17	0d	4	1.19mi
1042C Aberdeen Dr Unit C Lakewood, NJ	2.0	1.0	982	$2,000	$2.04	5d	1	1.23mi

HOA detail

• Monthly dues: $404 · $4,848/yr
• Likely covers: pool

Listing history 20 events

1. 2026-06-21
   days on market $179,000 Active 72 DOM
2. 2026-06-18
   days on market $179,000 Active 69 DOM
3. 2026-06-17
   days on market $179,000 Active 68 DOM
4. 2026-06-16
   days on market $179,000 Active 67 DOM
5. 2026-06-15
   days on market $179,000 Active 66 DOM
6. 2026-06-13
   days on market $179,000 Active 64 DOM
7. 2026-06-13
   days on market $179,000 Active 63 DOM
8. 2026-06-09
   days on market $179,000 Active 60 DOM
9. 2026-06-08
   days on market $179,000 Active 59 DOM
10. 2026-06-07
    days on market $179,000 Active 58 DOM
11. 2026-06-04
    days on market $179,000 Active 55 DOM
12. 2026-06-03
    days on market $179,000 Active 54 DOM
13. 2026-06-02
    days on market $179,000 Active 53 DOM
14. 2026-06-01
    days on market $179,000 Active 52 DOM
15. 2026-05-31
    days on market $179,000 Active 51 DOM
16. 2026-05-15
    status Active 795-char remark

    Show marketing remark (795 chars)

    This lovely 2 bedroom Baronet Model end unit has been meticulously cared for and updated, offering the perfect maintenance-free opportunity. The home welcomes you with newer paint and carpeting and an inviting eat-in kitchen. Enjoy the convenience of a 1-car garage with direct access and additional storage area as well as the added bonus of an enclosed front porch, your new favorite spot for morning coffee or evening unwinding. Leisure Village is renowned for its incredible amenities, including two clubhouses, two outdoor pools, an exercise room, walking trails, and beautiful lake views with a golf course nearby. Take advantage of the community bus service and a robust calendar of clubs and activities. Minutes to major shopping, top restaurants, Route 70, and the Garden State Parkway!

17. 2026-05-13
    status Pending 795-char remark

    Show marketing remark (795 chars)

    This lovely 2 bedroom Baronet Model end unit has been meticulously cared for and updated, offering the perfect maintenance-free opportunity. The home welcomes you with newer paint and carpeting and an inviting eat-in kitchen. Enjoy the convenience of a 1-car garage with direct access and additional storage area as well as the added bonus of an enclosed front porch, your new favorite spot for morning coffee or evening unwinding. Leisure Village is renowned for its incredible amenities, including two clubhouses, two outdoor pools, an exercise room, walking trails, and beautiful lake views with a golf course nearby. Take advantage of the community bus service and a robust calendar of clubs and activities. Minutes to major shopping, top restaurants, Route 70, and the Garden State Parkway!

18. 2026-04-08
    listed $179,000 Active 795-char remark

    Show marketing remark (795 chars)

    This lovely 2 bedroom Baronet Model end unit has been meticulously cared for and updated, offering the perfect maintenance-free opportunity. The home welcomes you with newer paint and carpeting and an inviting eat-in kitchen. Enjoy the convenience of a 1-car garage with direct access and additional storage area as well as the added bonus of an enclosed front porch, your new favorite spot for morning coffee or evening unwinding. Leisure Village is renowned for its incredible amenities, including two clubhouses, two outdoor pools, an exercise room, walking trails, and beautiful lake views with a golf course nearby. Take advantage of the community bus service and a robust calendar of clubs and activities. Minutes to major shopping, top restaurants, Route 70, and the Garden State Parkway!

19. 2020-01-03
    historical
20. 2019-11-07
    listed $124,900 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,595
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − HOA: −$4,848
• − Depreciation: −$5,207
• Taxable loss: −$2,162
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $1,047/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: Lakewood Township School District
• NCES district ID: 3408220
• Math proficiency: 17% ▼ -4.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $42,301
• Composite: 19.21/100
• National rank: #8813
• State rank: #417 of 472 in NJ

Livability — Leisure Village

• Score: 64/100
• State rank: #416
• US rank: #14624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leisure Village, NJ
• County: Ocean County · 439,426 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 139,149
• Household income: $64,959
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 5757.0

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 6% Italian 5% Scotch-Irish 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 9% German/W. Germanic 7% Russian/Polish/Slavic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -682.83%
• Current HPI: 465.344
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+43.3% since first listed

5 events — show timeline

• 2026-05-15 Relisted — MOMLS
• 2026-05-13 Pending — MOMLS
• 2026-04-08 Listed $179,000 MOMLS
• 2020-01-03 Delisted — MOMLS
• 2019-11-07 Listed $124,900 MOMLS