126 Thomas Ave

Cherry Hill Mall, NJ 08052

$285,000C-

4 bd · 1.0 ba · 1,403 sqft · Built 1928 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,894/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$646
• HOA: −$0
• Vac / Maint / Mgmt: −$608
• Net cashflow: $146/mo
• Annual: $1,753/yr
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• 1% rule: 1.02%
• Cash to close: $79,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $285k.
• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• It's been on market 57 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $276k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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.
• Maple Shade School District (suburban): math 8% / reading 32% proficiency, ranked #428 of 472 in NJ (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Howard Yocum Elementary (568 students, 42% FRL); Ralph J. Steinhauer Elementary School (math 9% / reading 29%, grade F, #401 of 431 statewide, top 93%, 350 students, 44% FRL); Maple Shade High School (math 9% / reading 37%, grade F, #337 of 399 statewide, top 85%, 931 students, 42% FRL).
• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 68 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $23k; list at $285k implies a 1139% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 49% 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.
• Cap rate 6.9% 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.
• This rent runs 44% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.