8 Ridgewood Pl

Beverly, NJ 08046

$209,900C+

2 bd · 1.5 ba · 1,270 sqft · Built 1969 · Townhouse · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,533/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$447
• HOA: −$75
• Vac / Maint / Mgmt: −$532
• Net cashflow: $378/mo
• Annual: $4,536/yr
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• 1% rule: 1.21%
• Cash to close: $58,772

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $210k.
• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• It's been on market 38 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $204k (3.0% 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 $6k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#130 in NJ, #3,487 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A; Watch: schools C-, amenities F.
• Willingboro Public School District (suburban): math 5% / reading 30% proficiency, ranked #433 of 472 in NJ (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 155 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $38k; list at $210k implies a 452% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% 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.
• Cap rate 8.5% vs local median 4.9% in Beverly — 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.
• This rent runs 31% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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.