1616 Pennsylvania Ave #207 · Vineland, NJ 08361

$150,000

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 53 Days on market

Built 1996 Average condition Est $148k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.0/15.0
• Livability +3.3/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained home in desirable Berryman's Branch manufactured home community in East Vineland. Spacious eat-in kitchen with oak cabinetry. The kitchen opens up to a large living room/dining room, three spacious bedrooms, and a separate laundry room. Other great features include a covered porch, carport, concrete driveway, natural gas heat and hot water, public water and sewer, and shed. This sale is subject to park approval. This home is easily accessible to Routes 55 and 49, and all shore points.

Key facts

• 4 parking spots
• Community pool
• Built 1996

Property features AI

Finance

• HOA & community: Community pool; Monthly land lease of $939

Exterior

• Parking: Concrete driveway; Driveway parking (4 spaces); On-street parking; Total of 4 garage/parking spaces
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Manufactured double-wide home; Land lease community (approximately 1 year remaining)
• Construction: Mixed construction materials; Estimated year built
• Exterior features: Community in-ground pool; Above grade other structures

Interior

• Kitchen: Refrigerator; Gas oven/range; Dishwasher
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating fuel; Central air conditioning (electric)
• Interior features: Awning(s); Estimated living area
• Laundry & utility: Washer and dryer (in-unit laundry); Hot water heated by natural gas

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 4.5% in Vineland — 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 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Vineland Public School District (urban): math 9% / reading 34% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 87 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 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 $4k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.51% ✓
• Cap rate: 12.29%
• Cash-on-cash: 21.43%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $148,500
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1616 Pennsylvania Ave #207	0.00mi	3/2.0	1,500 (0%)	0mo	$149,000	$99	100
1616 Pennsylvania Ave Unit 248 CHERRY LANE	0.14mi	3/2.0	1,568 (+4%)	11mo	$130,000	$83	77
1616 Pennsylvania Ave Unit 292 CHERRY	0.28mi	3/2.0	1,560 (+4%)	8mo	$100,000	$64	74
1616 Pennsylvania Ave #291	0.28mi	2/2.0 (-1)	1,512 (+1%)	8mo	$150,000	$99	74
1616 Pennsylvania Ave #195	0.00mi	3/2.0	1,600 (+7%)	19mo	$175,000	$109	73
1616 Pennsylvania Ave #276	0.00mi	2/2.0 (-1)	1,568 (+4%)	23mo	$154,000	$98	68
1616 Pennsylvania Ave #184	0.14mi	3/2.0	1,650 (+10%)	22mo	$148,000	$90	59
1616 Pennsylvania Ave #145	0.15mi	3/2.0	1,300 (-13%)	17mo	$120,000	$92	56
2550 Hance Bridge Rd	0.61mi	3/1.5	1,544 (+3%)	12mo	$509,000	$330	54
3717 Nathan Ln	0.53mi	3/2.5	1,710 (+14%)	6mo	$439,900	$257	45
2389 E Sherman Ave	0.57mi	3/1.0	1,406 (-6%)	20mo	$255,000	$181	43

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: 14.0%
• Equity multiple: 1.56×
• Total profit: $23,493
• Equity at exit: $22,365

10-year hold

• IRR: 22.8%
• Equity multiple: 2.95×
• Total profit: $82,101
• Equity at exit: $12,969

Cash invested: $42,000 (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 08361

• Active inventory: 87
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,261 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $750

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 62%

Sensitivity live

Price	-10% $854	-5% $802	+0% $750	+5% $698	+10% $646
Rent	-10% $571	-5% $661	+0% $750	+5% $839	+10% $929
Rate	-1.0pp $825	-0.5pp $788	base $750	+0.5pp $711	+1.0pp $672

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-14
   status Pending
2. 2026-05-03
   price $150,000
3. 2026-03-23
   listed $155,000 Active
4. 2026-03-20
   historical $155,000
5. 2025-11-09
   historical
6. 2025-10-21
   status Active
7. 2025-10-01
   status Pending
8. 2025-09-12
   status Active
9. 2025-08-13
   status Pending
10. 2025-07-21
    listed $155,000 Active
11. 2023-02-14
    soldstatus $124,900 Closed 505-char remark

    Show marketing remark (505 chars)

    Well-maintained home in desirable Berryman's Branch manufactured home community in East Vineland. Spacious eat-in kitchen with oak cabinetry. The kitchen opens up to a large living room/dining room, three spacious bedrooms, and a separate laundry room. Other great features include a covered porch, carport, concrete driveway, natural gas heat and hot water, public water and sewer, and shed. This sale is subject to park approval. This home is easily accessible to Routes 55 and 49, and all shore points.

12. 2023-02-06
    status Pending 505-char remark

    Show marketing remark (505 chars)

    Well-maintained home in desirable Berryman's Branch manufactured home community in East Vineland. Spacious eat-in kitchen with oak cabinetry. The kitchen opens up to a large living room/dining room, three spacious bedrooms, and a separate laundry room. Other great features include a covered porch, carport, concrete driveway, natural gas heat and hot water, public water and sewer, and shed. This sale is subject to park approval. This home is easily accessible to Routes 55 and 49, and all shore points.

13. 2023-01-26
    listed $124,900 Active 505-char remark

    Show marketing remark (505 chars)

    Well-maintained home in desirable Berryman's Branch manufactured home community in East Vineland. Spacious eat-in kitchen with oak cabinetry. The kitchen opens up to a large living room/dining room, three spacious bedrooms, and a separate laundry room. Other great features include a covered porch, carport, concrete driveway, natural gas heat and hot water, public water and sewer, and shed. This sale is subject to park approval. This home is easily accessible to Routes 55 and 49, and all shore points.

14. 2023-01-24
    historical $124,900 505-char remark

    Show marketing remark (505 chars)

    Well-maintained home in desirable Berryman's Branch manufactured home community in East Vineland. Spacious eat-in kitchen with oak cabinetry. The kitchen opens up to a large living room/dining room, three spacious bedrooms, and a separate laundry room. Other great features include a covered porch, carport, concrete driveway, natural gas heat and hot water, public water and sewer, and shed. This sale is subject to park approval. This home is easily accessible to Routes 55 and 49, and all shore points.

ⓘ 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: $27,138
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,171
• − Management: −$2,171
• − Depreciation: −$4,364
• Taxable income: $7,030
• Est. tax owed @ 24.0%: −$1,687
• After-tax cash flow: $7,312/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 · 12 photos

Average 55/100 Cosmetic rehab

This home is in average condition with some cosmetic repairs needed. It has a spacious layout and is well-maintained, making it a good candidate for a light renovation to increase its value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — standard, no visible damage
• Minor landscaping — basic landscaping

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Resale replace carpet in living room — improves comfort and appearance
• Resale repair kitchen cabinets — enhances functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · standard, no visible damage	Minor	$500–3,000
landscaping · basic landscaping	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace carpet in living room — improves comfort and appearance ↑
• Resale repair kitchen cabinets — enhances functionality and appearance ↑

ⓘ 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: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• City population: 45,038
• Population (ZIP): 18,375

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 13% Black 10% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 9% · Canada
• Languages at home: 75% English-only · Spanish 16% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.80%
• Current HPI: 291.3404
• 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

+20.1% since first listed

14 events — show timeline

• 2026-05-14 Pending — BRIGHT MLS
• 2026-05-03 Price Changed $150,000 BRIGHT MLS
• 2026-03-23 Listed $155,000 BRIGHT MLS
• 2026-03-20 Coming Soon $155,000 BRIGHT MLS
• 2025-11-09 Listing Removed — BRIGHT MLS
• 2025-10-21 Relisted — BRIGHT MLS
• 2025-10-01 Pending — BRIGHT MLS
• 2025-09-12 Relisted — BRIGHT MLS
• 2025-08-13 Pending — BRIGHT MLS
• 2025-07-21 Listed $155,000 BRIGHT MLS
• 2023-02-14 Sold (MLS) $124,900 BRIGHT MLS
• 2023-02-06 Pending — BRIGHT MLS
• 2023-01-26 Listed $124,900 BRIGHT MLS
• 2023-01-24 Coming Soon $124,900 BRIGHT MLS