700 N Franklin Blvd Blvd #806 · Pleasantville, NJ 08232

$120,000

1 bd · 1.0 ba · 721 sqft · Condo · 302 Days on market

Built 1989 Fair condition $235/mo HOA · 14% of rent

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Why this score? — see what drove the C+ 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 +25.7/30.0
• 1% rule +9.3/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Skyline~1 Bedroom/1 Bath, 2nd floor condo in the Heart of Pleasantville! This spacious condo features nice size living room, dinning area, galley kitchen, 1 bedroom with walk-in closet, a large bath and utility closet. Property is perfectly located, it offers comfort and convenience in a convenient location to shopping, restaurants and highways. Property is currently occupied with annual lease in place

Key facts

• Galley kitchen
• Walk-in closet
• Utility closet

Tags

• WALK-IN CLOSET
• GALLEY KITCHEN
• UTILITY CLOSET
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.5% in Pleasantville — 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 73/100 on livability (#194 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Pleasantville Public School District (suburban): math 6% / reading 28% proficiency, ranked #451 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $830 of loan paydown is wiped out by about $4k 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 302 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 302 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.43% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.27%
• DSCR: 1.46
• GRM: 5.8

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-967
• Equity at exit: $17,892

10-year hold

• IRR: 9.0%
• Equity multiple: 1.70×
• Total profit: $23,423
• Equity at exit: $10,375

Cash invested: $33,600 (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 08232

• Home prices YoY: -17.3%
• Active inventory: 84
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,711 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$235
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $287

Break-even live

Break-even rent $1,347

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $370	-5% $329	+0% $287	+5% $246	+10% $205
Rent	-10% $152	-5% $220	+0% $287	+5% $355	+10% $423
Rate	-1.0pp $348	-0.5pp $318	base $287	+0.5pp $256	+1.0pp $225

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Walnut Ave Pleasantville, NJ	2.0	1.0	684	$1,800	$2.63	13d	1	0.09mi
112 Atlantic Ave Pleasantville, NJ	1.0–2.0	1.0	640	$1,450	$2.26	21d	1	0.31mi
301 W Delilah Rd Pleasantville, NJ	1.0	1.0	528	$1,650	$3.12	21d	1	0.48mi

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-19
   days on market $120,000 Active 302 DOM
2. 2026-06-18
   days on market $120,000 Active 301 DOM
3. 2026-06-17
   days on market $120,000 Active 300 DOM
4. 2026-06-16
   days on market $120,000 Active 299 DOM
5. 2026-06-15
   days on market $120,000 Active 298 DOM
6. 2026-06-14
   days on market $120,000 Active 296 DOM
7. 2026-06-13
   days on market $120,000 Active 295 DOM
8. 2026-06-10
   days on market $120,000 Active 293 DOM
9. 2026-06-09
   days on market $120,000 Active 292 DOM
10. 2026-06-08
    days on market $120,000 Active 291 DOM
11. 2026-06-07
    days on market $120,000 Active 290 DOM
12. 2026-06-03
    days on market $120,000 Active 286 DOM
13. 2026-06-02
    days on market $120,000 Active 285 DOM
14. 2026-06-01
    days on market $120,000 Active 284 DOM
15. 2026-05-31
    days on market $120,000 Active 283 DOM
16. 2026-05-30
    days on market $120,000 Active 282 DOM
17. 2025-12-09
    price $120,000 406-char remark

    Show marketing remark (406 chars)

    Skyline~1 Bedroom/1 Bath, 2nd floor condo in the Heart of Pleasantville! This spacious condo features nice size living room, dinning area, galley kitchen, 1 bedroom with walk-in closet, a large bath and utility closet. Property is perfectly located, it offers comfort and convenience in a convenient location to shopping, restaurants and highways. Property is currently occupied with annual lease in place

18. 2025-11-04
    price $125,000 406-char remark

    Show marketing remark (406 chars)

    Skyline~1 Bedroom/1 Bath, 2nd floor condo in the Heart of Pleasantville! This spacious condo features nice size living room, dinning area, galley kitchen, 1 bedroom with walk-in closet, a large bath and utility closet. Property is perfectly located, it offers comfort and convenience in a convenient location to shopping, restaurants and highways. Property is currently occupied with annual lease in place

19. 2025-09-17
    price $130,000 406-char remark

    Show marketing remark (406 chars)

    Skyline~1 Bedroom/1 Bath, 2nd floor condo in the Heart of Pleasantville! This spacious condo features nice size living room, dinning area, galley kitchen, 1 bedroom with walk-in closet, a large bath and utility closet. Property is perfectly located, it offers comfort and convenience in a convenient location to shopping, restaurants and highways. Property is currently occupied with annual lease in place

20. 2025-08-21
    listed $135,000 Active 406-char remark

    Show marketing remark (406 chars)

    Skyline~1 Bedroom/1 Bath, 2nd floor condo in the Heart of Pleasantville! This spacious condo features nice size living room, dinning area, galley kitchen, 1 bedroom with walk-in closet, a large bath and utility closet. Property is perfectly located, it offers comfort and convenience in a convenient location to shopping, restaurants and highways. Property is currently occupied with annual lease in place

21. 2024-03-07
    historical $1,300
22. 2024-02-08
    price $1,300
23. 2023-12-13
    listed $1,400
24. 2023-11-17
    soldstatus $82,000 Sold 343-char remark

    Show marketing remark (343 chars)

    Skyline Condominiums~1BR/1BA 2nd floor end unit with vaulted ceilings. Galley kitchen, refrigerator, gas range, dishwasher, washer/dryer. Living room w/ wood burning fireplace and access to the deck. Nice size BR, large utility closet for storage. Great location, just outside of AC! Close to the expressway entrance, shopping & dinning!

25. 2023-10-03
    historical Under Contract 343-char remark

    Show marketing remark (343 chars)

    Skyline Condominiums~1BR/1BA 2nd floor end unit with vaulted ceilings. Galley kitchen, refrigerator, gas range, dishwasher, washer/dryer. Living room w/ wood burning fireplace and access to the deck. Nice size BR, large utility closet for storage. Great location, just outside of AC! Close to the expressway entrance, shopping & dinning!

26. 2023-09-07
    listed $89,900 Active 343-char remark

    Show marketing remark (343 chars)

    Skyline Condominiums~1BR/1BA 2nd floor end unit with vaulted ceilings. Galley kitchen, refrigerator, gas range, dishwasher, washer/dryer. Living room w/ wood burning fireplace and access to the deck. Nice size BR, large utility closet for storage. Great location, just outside of AC! Close to the expressway entrance, shopping & dinning!

ⓘ 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: $20,533
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − HOA: −$2,820
• − Depreciation: −$3,491
• Taxable income: $1,815
• Est. tax owed @ 24.0%: −$436
• After-tax cash flow: $3,014/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 · 7 photos

Fair 45/100 Moderate rehab

This 2nd floor condo requires moderate renovations, focusing on bathrooms and kitchen, to improve its resale and rental value.

Repairs flagged

• Major bathroom flooring — Damaged and outdated
• Major bathroom fixtures — Worn and outdated
• Minor kitchen flooring — Worn but not damaged

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace carpeting — New carpet improves living space
• Both Upgrade kitchen appliances — Modern appliances attract both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
bathroom flooring · Damaged and outdated	Major	$15,000–50,000
bathroom fixtures · Worn and outdated	Major	$15,000–50,000
kitchen flooring · Worn but not damaged	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace carpeting — New carpet improves living space ↑
• Both Upgrade kitchen appliances — Modern appliances attract both buyers and renters ↑

ⓘ 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: Pleasantville Public School District
• NCES district ID: 3413200
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $39,569
• Composite: 14.34/100
• National rank: #9440
• State rank: #451 of 472 in NJ

Livability — Pleasantville

• Score: 73/100
• State rank: #194
• US rank: #5487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasantville, NJ
• Population (ZIP): 20,200

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 0.61)
• Race & ethnicity: Hispanic / Latino 52% Black 33% Two or more races 22% White 6% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 12% Dominican 14%
• Common ancestry: Hispanic 1%
• Foreign-born: 30% · Canada, Jamaica, Vietnam
• Languages at home: 44% English-only · Spanish 48% French/Haitian/Cajun 5% Other Indo-European 1%

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: ▼ -72.51%
• Current HPI: 346.2085
• 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

+33.5% since first listed

10 events — show timeline

• 2025-12-09 Price Changed $120,000 SJSRMLS
• 2025-11-04 Price Changed $125,000 SJSRMLS
• 2025-09-17 Price Changed $130,000 SJSRMLS
• 2025-08-21 Listed $135,000 SJSRMLS
• 2024-03-07 Rental Removed $1,300 SJSRMLS
• 2024-02-08 Price Changed $1,300 SJSRMLS
• 2023-12-13 Listed for Rent $1,400 SJSRMLS
• 2023-11-17 Sold (MLS) $82,000 SJSRMLS
• 2023-10-03 Contingent — SJSRMLS
• 2023-09-07 Listed $89,900 SJSRMLS