45 Navajo Ct #24 · Galloway, NJ 08205

$185,000

2 bd · 1.0 ba · 855 sqft · Condo · 179 Days on market

Built 1992 Good condition $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 +13.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +4.0/10.0
• Condition / age +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in-ready top-floor condo in Society Hill 2 offering comfort, convenience, and thoughtful updates throughout. This well-maintained two-bedroom, one-bathroom home features newer luxury vinyl plank flooring, newer appliances, brand-new HVAC and water heater, updated closet doors, and a bright, open layout that feels warm and inviting from the moment you enter. The top-floor setting offers privacy, along with pleasant views and natural light. Residents enjoy access to community amenities, including a pool, clubhouse, and tennis courts, all set within a beautifully maintained neighborhood. Ideally located near Stockton University, Garden State Parkway, Atlantic City, shopping, dining, and the area's best shore attractions, this property is perfect for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a highly desirable Galloway location.

Key facts

• Bright open layout
• Newer appliances
• Brand-new hvac

Tags

• TOP-FLOOR CONDO
• NEWER APPLIANCES
• BRAND-NEW HVAC
• BRAND-NEW WATER HEATER
• UPDATED CLOSET DOORS
• BRIGHT OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1 ($-10/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (0.1% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Smithville Elementary School (math 22% / reading 38%, grade F, #721 of 1,303 statewide, top 56%, 573 students, 44% FRL); Galloway Township Middle School (math 19% / reading 47%, grade F, #271 of 431 statewide, top 64%, 726 students, 47% FRL); Absegami High School (math 18% / reading 48%, grade F, #259 of 399 statewide, top 66%, 1,125 students, 52% FRL).
• Market conditions: 245 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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

• It's been on market 179 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: 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 $162,800 (12.0% 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. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.04% ✓
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• GRM: 8.0

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: -16.2%
• Equity multiple: 0.42×
• Total profit: $-29,854
• Equity at exit: $27,584

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-25,347
• Equity at exit: $15,995

Cash invested: $51,800 (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: 245
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,921 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$240
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-1

Break-even live

Break-even rent $1,922

Max offer price $184,881

Occupancy floor 95%

Sensitivity live

Price	-10% $127	-5% $63	+0% $-1	+5% $-65	+10% $-129
Rent	-10% $-153	-5% $-77	+0% $-1	+5% $75	+10% $151
Rate	-1.0pp $92	-0.5pp $46	base $-1	+0.5pp $-49	+1.0pp $-98

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Iroquois Dr Galloway, NJ	2.0	1.0	855	$1,800	$2.11	15d	1	0.26mi
31 Arapaho Pl Unit 1 Galloway, NJ	2.0	1.0	855	$2,100	$2.46	15d	1	0.76mi
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	23d	1	1.40mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-22
   days on market $185,000 Active 179 DOM
2. 2026-06-19
   days on market $185,000 Active 177 DOM
3. 2026-06-18
   days on market $185,000 Active 176 DOM
4. 2026-06-17
   days on market $185,000 Active 175 DOM
5. 2026-06-16
   days on market $185,000 Active 174 DOM
6. 2026-06-15
   days on market $185,000 Active 173 DOM
7. 2026-06-14
   days on market $185,000 Active 171 DOM
8. 2026-06-13
   days on market $185,000 Active 170 DOM
9. 2026-06-10
   days on market $185,000 Active 168 DOM
10. 2026-06-09
    days on market $185,000 Active 167 DOM
11. 2026-06-08
    days on market $185,000 Active 166 DOM
12. 2026-06-07
    days on market $185,000 Active 165 DOM
13. 2026-06-03
    days on market $185,000 Active 161 DOM
14. 2026-06-02
    days on market $185,000 Active 160 DOM
15. 2026-06-01
    days on market $185,000 Active 159 DOM
16. 2026-05-31
    days on market $185,000 Active 158 DOM
17. 2026-05-30
    days on market $185,000 Active 157 DOM
18. 2025-12-24
    listed $185,000 Active 874-char remark

    Show marketing remark (874 chars)

    Move-in-ready top-floor condo in Society Hill 2 offering comfort, convenience, and thoughtful updates throughout. This well-maintained two-bedroom, one-bathroom home features newer luxury vinyl plank flooring, newer appliances, brand-new HVAC and water heater, updated closet doors, and a bright, open layout that feels warm and inviting from the moment you enter. The top-floor setting offers privacy, along with pleasant views and natural light. Residents enjoy access to community amenities, including a pool, clubhouse, and tennis courts, all set within a beautifully maintained neighborhood. Ideally located near Stockton University, Garden State Parkway, Atlantic City, shopping, dining, and the area's best shore attractions, this property is perfect for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a highly desirable Galloway location.

19. 2025-12-15
    listed $185,000 Active 880-char remark

    Show marketing remark (880 chars)

    Move-in-ready top-floor condo in Society Hill 2 offering comfort, convenience, and thoughtful updates throughout. This well-maintained two-bedroom, one-bathroom home features newer luxury vinyl plank flooring, newer appliances, a brand-new HVAC system and water heater, updated closet doors, and a bright, open layout that feels warm and inviting from the moment you enter. The top floor setting adds privacy along with pleasant views and natural light. Residents enjoy access to community amenities, including a pool, clubhouse, and tennis courts, all set within a beautifully maintained neighborhood. Ideally located near Stockton University, Garden State Parkway, Atlantic City, shopping, dining, and the area's best shore attractions, this property is perfect for first-time buyers, downsizers, or anyone seeking a low-maintenance home in a highly desirable Galloway location.

ⓘ 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: $23,053
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − HOA: −$2,880
• − Depreciation: −$5,382
• Taxable loss: −$2,960
• Est. tax savings @ 24.0%: +$710
• After-tax cash flow: $701/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in-ready top-floor condo in Society Hill 2 is in good condition with no major repairs needed. The home features newer luxury vinyl plank flooring, newer appliances, and updated closet doors. The top-floor setting offers privacy and pleasant views. The home is located in a well-maintained neighborhood with access to community amenities.

Value-add opportunities

• Resale Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and make the home look more inviting.
• Rental Clean the gutters — Clean gutters can prevent water damage and improve the overall appearance of the home.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and make the home look more inviting. ↑
• Rental Clean the gutters — Clean gutters can prevent water damage and improve the overall appearance of the home. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Galloway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Smithville, NJ
• County: Atlantic County · 143,611 people
• City population: 28,877
• 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

+0.0% since first listed

2 events — show timeline

• 2025-12-24 Listed $185,000 BRIGHT MLS
• 2025-12-15 Listed $185,000 SJSRMLS