66 Perrys Ln · Manahawkin, NJ 08050

$309,900

2 bd · 2.0 ba · 1,528 sqft · SingleFamily · 171 Days on market

Built 1999 8,000 sqft lot Est $394k · 21% under · waterfront

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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).

• ARV discount +15.0/15.0
• Cash flow +13.8/30.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lakefront home needs a little TLC.This two bedroom, two bath house is located in Perry's Lake. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. HOME IS BEING SOLD AS IS. INSPECTION FOR INFORMATION PURPOSE ONLY.

Key facts

• Lakeside retreat
• Community pool
• Vibrant clubhouse

Tags

• LAKESIDE RETREAT
• VAULTED CEILINGS
• FRENCH DOORS
• COMMUNITY POOL
• VIBRANT CLUBHOUSE
• LOW MAINTENANCE LIVING

Property features AI

Exterior

• Home design: House
• Exterior features: Approximately 8,000 sq ft lot

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $31 ($370/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (11.3% below list).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 2.5% in Manahawkin — 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 67/100 on livability (#336 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, employment A-; Watch: amenities F, commute F, cost of living F.
• Southern Regional School District (suburban): math 22% / reading 52% proficiency, ranked #251 of 472 in NJ (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Ocean Acres Elementary School (665 students, 21% FRL); Southern Regional Middle School (math 21% / reading 53%, grade F, #221 of 431 statewide, top 52%, 905 students, 22% FRL); Southern Regional High School (math 23% / reading 51%, grade F, #217 of 399 statewide, top 57%, 1,845 students, 17% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: 216 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• 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.
• Ocean 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 171 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $53k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $310k implies a 169% gain — meaningful room to come down on a strong offer.

Recommended offer $272,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 0.89% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $393,995
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 Perry Ln	0.07mi	2/2.0	1,568 (+3%)	1mo	$299,000	$191	92
119 Oak Ridge Ln	0.24mi	2/2.0	1,568 (+3%)	19mo	$274,000	$175	69
6 Hillsdale Ct	0.07mi	2/2.0	1,730 (+13%)	8mo	$455,000	$263	68
4 Fort Lee Dr	0.11mi	2/2.0	1,680 (+10%)	17mo	$315,000	$188	64
95 Oak Ridge Ln	0.18mi	2/2.0	1,680 (+10%)	15mo	$270,000	$161	63
46 Highlands Rd	0.17mi	2/2.0	1,680 (+10%)	16mo	$190,000	$113	62
2 Red Bank Dr	0.20mi	2/2.0	1,680 (+10%)	15mo	$289,900	$173	62
9 Pine Grove Ave	0.39mi	2/2.0	1,680 (+10%)	9mo	$302,500	$180	58
8 Oak Ridge Ln	0.32mi	2/2.0	1,680 (+10%)	14mo	$322,500	$192	57
40 Pine Grove Ave	0.61mi	2/2.0	1,680 (+10%)	5mo	$389,000	$232	50
20 Cedar Hill Dr	0.69mi	3/2.0 (+1)	1,586 (+4%)	20mo	$480,000	$303	40
400 S Main St	0.74mi	1/2.0 (-1)	1,352 (-12%)	7mo	$587,500	$435	35

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-48,211
• Equity at exit: $46,207

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-39,282
• Equity at exit: $26,794

Cash invested: $86,772 (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 08050

• Active inventory: 216
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,750 medium
• Mortgage (P&I): −$1,625
• Tax est. 1.5%: −$387 /mo · $4,648/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $31

Break-even live

Break-even rent $2,711

Max offer price $309,900

Occupancy floor 94%

Sensitivity live

Price	-10% $245	-5% $138	+0% $31	+5% $-76	+10% $-183
Rent	-10% $-186	-5% $-78	+0% $31	+5% $139	+10% $248
Rate	-1.0pp $187	-0.5pp $110	base $31	+0.5pp $-49	+1.0pp $-131

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Campbell Blvd Manahawkin, NJ	1.0–2.0	1.5–2.5	1131	$2,750	$2.43	0d	1	1.36mi

Listing history 23 events

1. 2026-06-21
   pricedays on market $309,900 Active 171 DOM
2. 2026-06-18
   days on market $338,900 Active 168 DOM
3. 2026-06-17
   days on market $338,900 Active 167 DOM
4. 2026-06-16
   days on market $338,900 Active 166 DOM
5. 2026-06-15
   days on market $338,900 Active 165 DOM
6. 2026-06-13
   days on market $338,900 Active 163 DOM
7. 2026-06-13
   days on market $338,900 Active 162 DOM
8. 2026-06-09
   days on market $338,900 Active 159 DOM
9. 2026-06-08
   days on market $338,900 Active 158 DOM
10. 2026-06-07
    days on market $338,900 Active 157 DOM
11. 2026-06-04
    days on market $338,900 Active 154 DOM
12. 2026-06-03
    days on market $338,900 Active 153 DOM
13. 2026-06-02
    days on market $338,900 Active 152 DOM
14. 2026-06-01
    days on market $338,900 Active 151 DOM
15. 2026-05-31
    days on market $338,900 Active 150 DOM
16. 2026-01-21
    price $338,900
17. 2026-01-01
    listed $363,000 Active
18. 2019-05-28
    soldstatus $115,000 Sold 640-char remark

    Show marketing remark (636 chars)

    LAKEFRONT home needs a little TLC. This two bedroom, two bath house sits on one of the lakes in this adult community. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. Property is being sold "AS IS"

19. 2019-05-28
    soldstatus $115,000 Closed 636-char remark

    Show marketing remark (636 chars)

    LAKEFRONT home needs a little TLC. This two bedroom, two bath house sits on one of the lakes in this adult community. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. Property is being sold "AS IS"

20. 2019-05-06
    status Pending 640-char remark

    Show marketing remark (640 chars)

    Lakefront home needs a little TLC.This two bedroom, two bath house is located in Perry's Lake. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. HOME IS BEING SOLD AS IS. INSPECTION FOR INFORMATION PURPOSE ONLY.

21. 2019-05-02
    status Under Contract Cont. to Show 636-char remark

    Show marketing remark (636 chars)

    LAKEFRONT home needs a little TLC. This two bedroom, two bath house sits on one of the lakes in this adult community. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. Property is being sold "AS IS"

22. 2019-01-07
    listed $125,000 Active 636-char remark

    Show marketing remark (636 chars)

    LAKEFRONT home needs a little TLC. This two bedroom, two bath house sits on one of the lakes in this adult community. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. Property is being sold "AS IS"

23. 2018-12-23
    listed $125,000 Active 640-char remark

    Show marketing remark (640 chars)

    Lakefront home needs a little TLC.This two bedroom, two bath house is located in Perry's Lake. It needs a little help to make it a home again. Updating if you choose, windows, roof, new driveway and some manageable mold issues in the crawlspace. See attached estimate. Comes with full appliance pkg, sprinkler system, sink in garage, with additional space for an office, craft room or to just tinker. Additional 8x10 storage shed with electricity. Offers a front porch to enjoy your morning coffee. SELLER IS LOOKING FOR A QUICK CLOSING, bring in an offer. Land is leased. HOME IS BEING SOLD AS IS. INSPECTION FOR INFORMATION PURPOSE ONLY.

ⓘ 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: $33,000
• − Mortgage interest: −$17,359
• − Property taxes: −$4,648
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,640
• − Management: −$2,640
• − Depreciation: −$9,015
• Taxable loss: −$4,852
• Est. tax savings @ 24.0%: +$1,165
• After-tax cash flow: $1,535/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: Southern Regional School District
• NCES district ID: 3415480
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $70,588
• Composite: 33.85/100
• National rank: #5355
• State rank: #251 of 472 in NJ

Livability — Manahawkin

• Score: 67/100
• State rank: #336
• US rank: #10744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 27,599

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 1% Subsaharan African 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -404.12%
• Current HPI: 369.8706
• 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

+171.1% since first listed

8 events — show timeline

• 2026-01-21 Price Changed $338,900 ForSaleByOwner.com
• 2026-01-01 Listed $363,000 ForSaleByOwner.com
• 2019-05-28 Sold (MLS) $115,000 BRIGHT MLS
• 2019-05-28 Sold (MLS) $115,000 MOMLS
• 2019-05-06 Pending — MOMLS
• 2019-05-02 Pending — BRIGHT MLS
• 2019-01-07 Listed $125,000 BRIGHT MLS
• 2018-12-23 Listed $125,000 MOMLS