338 Morris St · Gloucester City, NJ 08030

$170,000

5 bd · 2.0 ba · 1,534 sqft · SingleFamily public records · 242 Days on market

Built 1910 1,133 sqft lot Est $287k · 41% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for more space? Here is your answer! Check out this single family, end rowhome. This home has 5 bedrooms and 2 full bathrooms. Laundry on the main level for convenience. Take advantage of Gloucester's FREE preschool for 3 & 4 year olds. * Currently tenant occupied. All showings must have 48 hour notice *

Key facts

• Built 1910
• Listed 242 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heat and hot water
• Home design: Semi-detached home; Frame construction
• Construction: Frame construction; Other foundation
• Exterior features: Lot approximately 13 x 87 feet; No tidal water

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms on the second level; Two bedrooms on the third level; Room list includes living room, dining room, master bedroom, three additional bedrooms, kitchen, and laundry
• Bathrooms: Two full bathrooms (one on main level, one on an upper level)
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Eat-in kitchen; Full unfinished basement
• Laundry & utility: Main floor laundry

🏷️ Possibly a rental listed for sale. The $170,000 price doesn't fit this home's estimated sale value (~$286,858) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $983 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 5.5% in Gloucester City — 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 72/100 on livability (#215 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: amenities F, commute F.
• Gloucester City Public School District (suburban): math 11% / reading 34% proficiency, ranked #413 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cold Springs School (math 8% / reading 17%, grade F, #1,172 of 1,303 statewide, top 91%, 842 students, 68% FRL); Gloucester City Middle School (math 8% / reading 36%, grade F, #383 of 431 statewide, top 90%, 779 students, 65% FRL); Gloucester City High School (math 21% / reading 42%, grade F, #275 of 399 statewide, top 69%, 702 students, 59% FRL).
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $2,876/mo this rent would consume 54% of the median local household income ($63k/yr) (locally 431% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $50k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.69% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.78%
• DSCR: 2.10
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $286,858
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 N Brown St	0.32mi	4/1.5 (-1)	1,596 (+4%)	4mo	$313,000	$196	68
821 Hudson St	0.27mi	4/1.0 (-1)	1,548 (+1%)	13mo	$285,000	$184	66
406 Somerset St	0.26mi	4/1.5 (-1)	1,637 (+7%)	9mo	$235,150	$144	62
922 Essex St	0.26mi	4/1.5 (-1)	1,602 (+4%)	21mo	$300,000	$187	56
829 Mercer St	0.17mi	4/1.0 (-1)	1,750 (+14%)	23mo	$232,300	$133	40
36 University Ave	0.74mi	4/2.0 (-1)	1,685 (+10%)	12mo	$392,500	$233	34

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: 18.2%
• Equity multiple: 1.74×
• Total profit: $35,181
• Equity at exit: $25,348

10-year hold

• IRR: 26.7%
• Equity multiple: 3.35×
• Total profit: $111,724
• Equity at exit: $14,698

Cash invested: $47,600 (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 08030

• Home prices YoY: -27.9%
• Active inventory: 90
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,876 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$327 /mo · $3,922/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $983

Break-even live

Break-even rent $1,632

Max offer price $170,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,079	-5% $1,031	+0% $983	+5% $935	+10% $887
Rent	-10% $756	-5% $869	+0% $983	+5% $1,097	+10% $1,210
Rate	-1.0pp $1,069	-0.5pp $1,026	base $983	+0.5pp $939	+1.0pp $894

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 Nicholson Rd Gloucester City, NJ	4.0	2.0	1968	$3,200	$1.63	25d	1	0.80mi

Listing history 37 events

1. 2026-06-18
   days on market $170,000 Active 242 DOM
2. 2026-06-17
   days on market $170,000 Active 241 DOM
3. 2026-06-16
   days on market $170,000 Active 240 DOM
4. 2026-06-15
   days on market $170,000 Active 239 DOM
5. 2026-06-13
   days on market $170,000 Active 237 DOM
6. 2026-06-09
   days on market $170,000 Active 233 DOM
7. 2026-06-08
   days on market $170,000 Active 232 DOM
8. 2026-06-07
   days on market $170,000 Active 231 DOM
9. 2026-06-04
   days on market $170,000 Active 228 DOM
10. 2026-06-03
    days on market $170,000 Active 227 DOM
11. 2026-06-02
    days on market $170,000 Active 226 DOM
12. 2026-06-01
    days on market $170,000 Active 225 DOM
13. 2026-05-31
    days on market $170,000 Active 224 DOM
14. 2026-04-15
    price $170,000
15. 2026-02-18
    price $180,000
16. 2025-10-29
    price $199,000
17. 2025-10-19
    listed $220,000 Active
18. 2024-05-07
    soldstatus $145,000
19. 2024-04-18
    soldstatus $145,000 Closed 319-char remark

    Show marketing remark (319 chars)

    Looking for more space? Here is your answer! Check out this single family, end rowhome. This home has 5 bedrooms and 2 full bathrooms. Laundry on the main level for convenience. Take advantage of Gloucester's FREE preschool for 3 & 4 year olds. * Currently tenant occupied. All showings must have 48 hour notice *

20. 2024-03-22
    status Pending 319-char remark

    Show marketing remark (319 chars)

    Looking for more space? Here is your answer! Check out this single family, end rowhome. This home has 5 bedrooms and 2 full bathrooms. Laundry on the main level for convenience. Take advantage of Gloucester's FREE preschool for 3 & 4 year olds. * Currently tenant occupied. All showings must have 48 hour notice *

21. 2024-03-01
    listed $164,900 Active 319-char remark

    Show marketing remark (319 chars)

    Looking for more space? Here is your answer! Check out this single family, end rowhome. This home has 5 bedrooms and 2 full bathrooms. Laundry on the main level for convenience. Take advantage of Gloucester's FREE preschool for 3 & 4 year olds. * Currently tenant occupied. All showings must have 48 hour notice *

22. 2019-08-23
    soldstatus $42,500
23. 2018-03-15
    soldstatus $28,000 Sold 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

24. 2018-03-15
    soldstatus $28,000 Closed

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

25. 2018-03-01
    status Under Contract 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

26. 2018-03-01
    historical

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

27. 2018-02-28
    soldstatus $28,000 Sold 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

28. 2018-02-19
    status Under Contract 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

29. 2018-01-26
    price $34,000 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

30. 2018-01-15
    price $34,500 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

31. 2017-12-14
    listed $39,900 Active 144-char remark

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

32. 2017-12-14
    listed $34,000

    Show marketing remark (144 chars)

    Space galore. Big rent roll possibilities on this one! This 5 bedroom twin is being offered as-is. Buyer responsible for as-is co from township.

33. 2011-08-15
    historical
34. 2010-06-28
    listed $79,000
35. 2003-09-14
    historical
36. 2003-03-14
    listed $65,000
37. 1977-04-07
    soldstatus $12,500

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $3,922 · $327/mo
• Projected year-2 tax: $4,078 · $340/mo
• Expected delta: +$155/yr (+$13/mo · 4.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,516
• − Mortgage interest: −$9,523
• − Property taxes: −$3,922
• − Insurance: −$850
• − Repairs & maintenance: −$2,761
• − Management: −$2,761
• − Depreciation: −$4,945
• Taxable income: $9,753
• Est. tax owed @ 24.0%: −$2,341
• After-tax cash flow: $9,457/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: Gloucester City Public School District
• NCES district ID: 3406000
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 34% ▼ -15.00%
• Median HH income: $51,231
• Composite: 20.01/100
• National rank: #8664
• State rank: #413 of 472 in NJ

Livability — Gloucester City

• Score: 72/100
• State rank: #215
• US rank: #5984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloucester City, NJ
• County: Camden County · 407,624 people
• City population: 13,217
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,217
• Household income: $63,384
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 431.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Black 7% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 3% Hispanic 2%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 13% Other Indo-European 4% Arabic 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.59%
• Current HPI: 298.9139
• Rent YoY: —
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+1260.0% since first listed

24 events — show timeline

• 2026-04-15 Price Changed $170,000 BRIGHT MLS
• 2026-02-18 Price Changed $180,000 BRIGHT MLS
• 2025-10-29 Price Changed $199,000 BRIGHT MLS
• 2025-10-19 Listed $220,000 BRIGHT MLS
• 2024-05-07 Sold (Public Records) $145,000 Public Records
• 2024-04-18 Sold (MLS) $145,000 BRIGHT MLS
• 2024-03-22 Pending — BRIGHT MLS
• 2024-03-01 Listed $164,900 BRIGHT MLS
• 2019-08-23 Sold (Public Records) $42,500 Public Records
• 2018-03-15 Sold (MLS) $28,000 BRIGHT MLS
• 2018-03-15 Sold (MLS) $28,000 TREND
• 2018-03-01 Pending — TREND
• 2018-03-01 Listing Removed — BRIGHT MLS
• 2018-02-28 Sold (MLS) $28,000 TREND
• 2018-02-19 Pending — TREND
• 2018-01-26 Price Changed $34,000 TREND
• 2018-01-15 Price Changed $34,500 TREND
• 2017-12-14 Listed $34,000 BRIGHT MLS
• 2017-12-14 Listed $39,900 TREND
• 2011-08-15 Listing Removed — BRIGHT MLS
• 2010-06-28 Listed $79,000 BRIGHT MLS
• 2003-09-14 Listing Removed — BRIGHT MLS
• 2003-03-14 Listed $65,000 BRIGHT MLS
• 1977-04-07 Sold (Public Records) $12,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,922 · +5.6% YoY. Source: county tax records.