14 Alexander Ave

Vista Center, NJ 08527

$129,900B-

2 bd · 1.0 ba · 1,150 sqft · Built — · SingleFamily · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,809/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$216
• HOA: −$558
• Vac / Maint / Mgmt: −$590
• Net cashflow: $763/mo
• Annual: $9,160/yr
• Cap rate: 13.34%
• Cash-on-cash: 25.18%
• DSCR: 2.12
• 1% rule: 2.16%
• Cash to close: $36,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• It's been on market 156 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#507 in NJ) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Jackson Township School District (suburban): math 26% / reading 48% proficiency, ranked #228 of 472 in NJ (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Elms Elementary School (math 32% / reading 44%, grade F, #523 of 1,303 statewide, top 40%, 658 students, 20% FRL); Carl W. Goetz Middle School (math 32% / reading 54%, grade D-, #167 of 431 statewide, top 41%, 989 students, 22% FRL); Jackson Memorial High School (math 28% / reading 57%, grade F, #166 of 399 statewide, top 42%, 1,499 students, 16% FRL) — zoned schools at 19% FRL track the district average.
• Market conditions: Rents soft (-1.7%/yr); 572 active listings in the ZIP; high-income renter base; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 15y ago 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.
• Current owner paid $16k; list at $130k implies a 687% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 13.3% vs local median 3.3% in Vista Center — 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.

Questions for listing agent

• It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.