234 Maurice Blvd · Middle, NJ 08242

$165,000

2 bd · 1.0 ba · 780 sqft · Manufactured · 23 Days on market

Built 2026 Est $126k · 31% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.9/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +2.4/10.0
• DSCR +2.0/10.0
• ARV discount +0.0/15.0

Listing remarks

This listing is basically a right of first refusal. The home is a 14' X 56" manufactured home that has been ordered for sale at 234 Maurice Blvd in Grande Woods South Manufactured Home Community in Rio Grande. The actual home is not on site. Home expected delivery is mid-August with occupancy by December, +/-. The primary picture in this listing is a picture of a similar home in the community for comparison purposes. Actual home will be tan/almond in color with cranberry shutters. Color of appliances, flooring and counter tops can be shown at the office

Key facts

• 2 parking spots
• Built 2026
• Listed 23 days

Property features AI

Exterior

• Parking: Parking for 2 cars
• Utilities: Well water; Public sewer; Natural gas hot water
• Home design: Tan/almond exterior color; New construction; Offered for sale
• Construction: Shingle exterior
• Exterior features: Shingle exterior; 40' frontage

Interior

• Kitchen: Range; Oven; Self-cleaning oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Curtains included; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (26.1% below list).
• Recommended offer: $122k (26.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Middle Township Public School District (suburban): math 15% / reading 38% proficiency, ranked #372 of 472 in NJ (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Middle Township Elementary #1 (657 students, 56% FRL); Middle Township Elementary #4 (math 14% / reading 47%, grade F, #303 of 431 statewide, top 72%, 594 students, 52% FRL); Middle Township High School (math 17% / reading 32%, grade F, #327 of 399 statewide, top 82%, 790 students, 36% FRL).
• Market conditions: 72 active listings in the ZIP; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Recommended offer $121,933 (26.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.74% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.60%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $125,580
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Maurice Blvd	0.02mi	2/2.0	840 (+8%)	15mo	$135,000	$161	70
229 Maurice Blvd	0.02mi	2/2.0	840 (+8%)	19mo	$160,000	$190	66
95 Priest Blvd	0.26mi	3/1.0 (+1)	720 (-8%)	7mo	$105,000	$146	64
2 Priest Blvd	0.06mi	2/2.0	896 (+15%)	23mo	$115,000	$128	49

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.70×
• Total profit: $78,609
• Equity at exit: $148,645

10-year hold

• IRR: 19.1%
• Equity multiple: 6.20×
• Total profit: $240,391
• Equity at exit: $320,559

Cash invested: $46,200 (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 08242

• Home prices YoY: 14.2%
• Active inventory: 72
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-177

Break-even live

Break-even rent $1,443

Max offer price $139,388

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-120	+0% $-177	+5% $-234	+10% $-291
Rent	-10% $-273	-5% $-225	+0% $-177	+5% $-129	+10% $-81
Rate	-1.0pp $-94	-0.5pp $-135	base $-177	+0.5pp $-220	+1.0pp $-263

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $165,000 Active 23 DOM
2. 2026-06-21
   days on market $165,000 Active 22 DOM
3. 2026-06-18
   days on market $165,000 Active 20 DOM
4. 2026-06-17
   days on market $165,000 Active 19 DOM
5. 2026-06-16
   days on market $165,000 Active 18 DOM
6. 2026-06-15
   days on market $165,000 Active 17 DOM
7. 2026-06-13
   days on market $165,000 Active 15 DOM
8. 2026-06-12
   days on market $165,000 Active 14 DOM
9. 2026-06-09
   days on market $165,000 Active 11 DOM
10. 2026-06-09
    remarks 559-char remark
11. 2026-06-08
    days on market $165,000 Active 10 DOM
12. 2026-06-07
    days on market $165,000 Active 9 DOM
13. 2026-06-07
    days on market $165,000 Active 8 DOM
14. 2026-06-04
    days on market $165,000 Active 5 DOM
15. 2026-06-02
    days on market $165,000 Active 4 DOM
16. 2026-06-01
    days on market $165,000 Active 3 DOM
17. 2026-05-31
    days on market $165,000 Active 2 DOM
18. 2026-05-29
    listed $165,000 Active

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

Taxation est. · year 1

• Rental income: $14,632
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$4,800
• Taxable loss: −$5,052
• Est. tax savings @ 24.0%: +$1,212
• After-tax cash flow: $-912/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: Middle Township Public School District
• NCES district ID: 3410020
• Math proficiency: 15% ▼ -18.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $59,228
• Composite: 24.09/100
• National rank: #7754
• State rank: #372 of 472 in NJ

Livability — Middle

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

Census & demographics

• Census place: Rio Grande, NJ
• Population (ZIP): 4,021

Population outlook (Cape May County) Hauer SSP2

• Today (2025): 88,234 people
• By 2030: 84,144 · -4.6%
• By 2040: 75,146 · -14.8%
• By 2050: 67,389 · -23.6%
• By 2075: 55,732 · -36.8%
• By 2100: 44,972 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Two or more races 11% Black 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 11% Russian/Polish/Slavic 2% Arabic 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 51.53%
• Current HPI: 414.7401
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-29 Listed $165,000 CMCMLS