3412 Union Ave Unit C4 · Cherry Hill Mall, NJ 08109

$160,000

2 bd · 1.0 ba · 994 sqft · Condo public records · 329 Days on market

Built 1991 $340/mo HOA · 17% 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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 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

All hardwood flooring 2 bedroom 1 full bath condo. It was renovated 7 years ago. It comes with storage space. Nice to have small family to own your home in NJ

Key facts

• $340 HOA
• Built 1991
• Listed 329 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-16 ($-187/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (1.7% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.0% in Cherry Hill Mall — 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 79/100 on livability (#87 in NJ, #2,267 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety B+; Watch: commute F, cost of living F.
• Pennsauken Township Board Of Education School District (suburban): math 12% / reading 32% proficiency, ranked #410 of 472 in NJ (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: George B. Fine Elementary School (math 5% / reading 15%, grade F, #1,225 of 1,303 statewide, top 95%, 282 students, 34% FRL); Howard M. Phifer Middle School (math 14% / reading 37%, grade F, #359 of 431 statewide, top 84%, 1,045 students, 43% FRL); Pennsauken High School (math 8% / reading 45%, grade F, #319 of 399 statewide, top 80%, 1,530 students, 37% FRL) — zoned schools average 38% FRL vs 56% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 77 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 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 $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.

Negotiation context

• It's been on market 329 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $160k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 41% 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 $140,800 (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 329 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 1.21% ✓
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 6.9

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-26,619
• Equity at exit: $23,857

10-year hold

• IRR: -8.2%
• Equity multiple: 0.48×
• Total profit: $-23,230
• Equity at exit: $13,834

Cash invested: $44,800 (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 08109

• Active inventory: 77
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,943 high
• Mortgage (P&I): −$839
• Tax from tax record: −$305 /mo · $3,658/yr
• Insurance: −$67
• HOA: −$340
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-16

Break-even live

Break-even rent $1,963

Max offer price $157,242

Occupancy floor 96%

Sensitivity live

Price	-10% $75	-5% $30	+0% $-16	+5% $-61	+10% $-106
Rent	-10% $-169	-5% $-92	+0% $-16	+5% $61	+10% $138
Rate	-1.0pp $65	-0.5pp $25	base $-16	+0.5pp $-57	+1.0pp $-99

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8534 Orchard Ave Pennsauken, NJ	2.0	1.0	875	$2,000	$2.29	26d	1	0.60mi
200 E Maple Ave Apt 13 Merchantville, NJ	2.0	1.0	1000	$2,000	$2.00	4d	1	0.86mi
200 E Maple Ave Unit 10 Merchantville, NJ	2.0	1.0	1000	$2,000	$2.00	6d	1	0.86mi
200 E Maple Ave Unit 08 Merchantville, NJ	2.0	1.0	1000	$2,000	$2.00	20d	1	0.86mi
6366 Rogers Ave Unit 3 Pennsauken Township, NJ	3.0	1.0	1100	$2,100	$1.91	26d	1	0.93mi
300 Monroe Ave Unit B Cherry Hill Township, NJ	3.0	1.0	900	$2,250	$2.50	26d	1	0.96mi
42 W Maple Ave Merchantville, NJ	1.0	1.0	654	$1,675	$2.56	26d	1	1.23mi
1 Burroughs Mill Cir Cherry Hill, NJ	1.0–3.0	1.0–2.5	1142	$2,812	$2.46	0d	23	1.28mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $160,000 Active 329 DOM
2. 2026-06-18
   days on market $160,000 Active 326 DOM
3. 2026-06-17
   days on market $160,000 Active 325 DOM
4. 2026-06-16
   days on market $160,000 Active 324 DOM
5. 2026-06-15
   days on market $160,000 Active 323 DOM
6. 2026-06-13
   days on market $160,000 Active 321 DOM
7. 2026-06-13
   days on market $160,000 Active 320 DOM
8. 2026-06-09
   days on market $160,000 Active 317 DOM
9. 2026-06-08
   days on market $160,000 Active 316 DOM
10. 2026-06-07
    days on market $160,000 Active 315 DOM
11. 2026-06-04
    days on market $160,000 Active 312 DOM
12. 2026-06-03
    days on market $160,000 Active 311 DOM
13. 2026-06-02
    days on market $160,000 Active 310 DOM
14. 2026-06-01
    days on market $160,000 Active 309 DOM
15. 2026-05-31
    days on market $160,000 Active 308 DOM
16. 2026-05-01
    status Active 158-char remark

    Show marketing remark (158 chars)

    All hardwood flooring 2 bedroom 1 full bath condo. It was renovated 7 years ago. It comes with storage space. Nice to have small family to own your home in NJ

17. 2026-01-18
    historical 158-char remark

    Show marketing remark (158 chars)

    All hardwood flooring 2 bedroom 1 full bath condo. It was renovated 7 years ago. It comes with storage space. Nice to have small family to own your home in NJ

18. 2025-09-19
    price $160,000 158-char remark

    Show marketing remark (158 chars)

    All hardwood flooring 2 bedroom 1 full bath condo. It was renovated 7 years ago. It comes with storage space. Nice to have small family to own your home in NJ

19. 2025-04-15
    listed $176,000 Active 158-char remark

    Show marketing remark (158 chars)

    All hardwood flooring 2 bedroom 1 full bath condo. It was renovated 7 years ago. It comes with storage space. Nice to have small family to own your home in NJ

20. 2024-09-15
    historical
21. 2024-04-07
    listed $176,000 Active
22. 1994-04-19
    soldstatus $62,900

ⓘ 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: $3,658 · $305/mo
• Projected year-2 tax: $3,821 · $318/mo
• Expected delta: +$163/yr (+$14/mo · 4.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,316
• − Mortgage interest: −$8,962
• − Property taxes: −$3,658
• − Insurance: −$800
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − HOA: −$4,080
• − Depreciation: −$4,655
• Taxable loss: −$2,570
• Est. tax savings @ 24.0%: +$617
• After-tax cash flow: $429/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: Pennsauken Township Board Of Education School District
• NCES district ID: 3412870
• Math proficiency: 12% ▼ -16.00%
• Reading proficiency: 32% ▼ -3.00%
• Median HH income: $60,336
• Composite: 20.48/100
• National rank: #8573
• State rank: #410 of 472 in NJ

Livability — Cherry Hill Mall

• Score: 79/100
• State rank: #87
• US rank: #2267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Camden County · 407,624 people
• City population: 23,574
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 24,022
• Household income: $90,242
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 874.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 39% Hispanic / Latino 31% Black 18% Two or more races 11% Asian 9%
• Hispanic origin (detail): Puerto Rican 16% Dominican 6%
• Common ancestry: Romanian 5% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 72% English-only · Spanish 20% Vietnamese 4% Other Indo-European 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: ▼ -197.50%
• Current HPI: 331.3072
• 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

+154.4% since first listed

7 events — show timeline

• 2026-05-01 Relisted — BRIGHT MLS
• 2026-01-18 Listing Removed — BRIGHT MLS
• 2025-09-19 Price Changed $160,000 BRIGHT MLS
• 2025-04-15 Listed $176,000 BRIGHT MLS
• 2024-09-15 Listing Removed — BRIGHT MLS
• 2024-04-07 Listed $176,000 BRIGHT MLS
• 1994-04-19 Sold (Public Records) $62,900 Public Records

Property tax history

+2.0%/yr

Latest (2025): $3,658 · +4.5% YoY. Source: county tax records.