114-C7 Cookstown New Egypt Rd · North Hanover, NJ 08562

$99,500

2 bd · 1.0 ba · 498 sqft · Manufactured · 181 Days on market

Manufactured home Built 1980 Excellent condition $200/sqft · 33% below area Est $148k · 33% under $650/mo HOA · 70% of rent ↓ 12% since listing

---

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
• Appreciation +6.8/10.0
• Condition / age +4.8/5.0
• 1% rule +4.3/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Manufactured-home adj. -3.2

Listing remarks MLS

Turnkey, fully renovated, and impossible to ignore--this stunning 2-bedroom, 1-bath home in Wrightstown, NJ delivers modern living without the premium price tag. From the brand-new roof, siding, and skirting to the vinyl deck, HVAC system, flooring, and completely redesigned kitchen and bath--every inch has been thoughtfully upgraded. Step inside to bright, open living spaces finished with fresh, contemporary touches and a sleek, low-maintenance design. Perfectly positioned near Joint Base MDL, major commuter routes, shopping, and parks, this home offers the ideal blend of style, convenience, and value. Opportunities like this don't last--schedule your showing today!

Key facts

• Open living spaces
• Brand new roof
• Vinyl deck

Tags

• BRAND NEW ROOF
• REDESIGNED KITCHEN
• REDESIGNED BATH
• VINYL DECK
• HVAC SYSTEM
• OPEN LIVING SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-608 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $12k (88.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (7.1% below list).
• Recommended offer: $12k (88.4% below list) — sets the bar for cash-flow.
• Cap rate -1.0% vs local median 2.5% in North Hanover — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Northern Burlington County Regional School District (rural): math 27% / reading 57% proficiency, ranked #198 of 472 in NJ (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Clarence B. Lamb Elementary School (math 22% / reading 42%, grade F, #661 of 1,303 statewide, top 54%, 294 students, 32% FRL); Northern Burlington County Regional Middle School (math 27% / reading 56%, grade F, #182 of 431 statewide, top 43%, 703 students, 13% FRL); Northern Burlington County Regional High School (math 27% / reading 58%, grade F, #166 of 399 statewide, top 42%, 1,427 students, 13% FRL).
• Market conditions: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• This rent is only 12% of the median local income ($90k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $8k of equity ($688 loan paydown + $7k appreciation (7.3% local appreciation)).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 70% of rent.

Recommended offer $11,570 (88.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 88% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: -1.04%
• Cash-on-cash: -26.17%
• DSCR: -0.16
• GRM: 9.0

CMA / ARV

• ARV (median comp): $147,761
• List price: $99,500
• Delta: -32.66%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Honeybee Dr	1.06mi	2/1.0	624 (+25%)	10mo	$299,000	$479	32
119A Brindletown Rd	0.74mi	1/1.0 (-1)	572 (+15%)	9mo	$52,000	$91	28
24 Twin Dr	1.17mi	1/1.0 (-1)	448 (-10%)	37mo	$125,000	$279	23
11 Main St	1.52mi	1/1.0 (-1)	622 (+25%)	15mo	$289,000	$465	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-1,478
• Equity at exit: $71,149

10-year hold

• IRR: 3.7%
• Equity multiple: 1.91×
• Total profit: $25,336
• Equity at exit: $137,191

Cash invested: $27,860 (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 08562

• Home prices YoY: 2.5%
• Active inventory: 48
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$650
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $-608

Break-even live

Break-even rent $1,693

Max offer price $11,570

Occupancy floor —

Sensitivity live

Price	-10% $-539	-5% $-573	+0% $-608	+5% $-642	+10% $-676
Rent	-10% $-681	-5% $-644	+0% $-608	+5% $-571	+10% $-535
Rate	-1.0pp $-558	-0.5pp $-582	base $-608	+0.5pp $-633	+1.0pp $-660

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: $24,875
• Closing costs: $2,985
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Jacobstown Rd New Egypt, NJ	1.0	1.0	350	$1,200	$3.43	5d	1	1.25mi

Property features AI

Finance

• Other: Fee simple ownershipLease not considered
• HOA & community: HOA fee $650 monthly

Exterior

• Parking: Other parking
• Utilities: Public waterPublic sewerElectric hot water
• Home design: Manufactured homeAbove-grade other structures
• Construction: Year built estimated
• Exterior features: Not in a federal flood zoneNo tidal water

Interior

• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level1 full bathroom total
• Heating & cooling: Central air conditioningOther heatingElectric hot water
• Interior features: Not furnishedEstimated living area

Listing history 50 events

1. 2026-09-23
   days on market $99,500 Active 181 DOM
2. 2026-09-22
   days on market $99,500 Active 180 DOM
3. 2026-09-21
   days on market $99,500 Active 179 DOM
4. 2026-09-20
   days on market $99,500 Active 178 DOM
5. 2026-09-19
   days on market $99,500 Active 177 DOM
6. 2026-09-18
   days on market $99,500 Active 176 DOM
7. 2026-09-17
   days on market $99,500 Active 175 DOM
8. 2026-09-16
   days on market $99,500 Active 174 DOM
9. 2026-09-15
   days on market $99,500 Active 173 DOM
10. 2026-09-14
    days on market $99,500 Active 172 DOM
11. 2026-09-13
    days on market $99,500 Active 171 DOM
12. 2026-09-12
    days on market $99,500 Active 170 DOM
13. 2026-09-11
    days on market $99,500 Active 169 DOM
14. 2026-09-05
    days on market $99,500 Active 163 DOM
15. 2026-09-04
    days on market $99,500 Active 162 DOM
16. 2026-09-03
    days on market $99,500 Active 161 DOM
17. 2026-09-02
    days on market $99,500 Active 160 DOM
18. 2026-08-31
    days on market $99,500 Active 158 DOM
19. 2026-08-30
    days on market $99,500 Active 157 DOM
20. 2026-08-29
    days on market $99,500 Active 156 DOM
21. 2026-08-28
    days on market $99,500 Active 155 DOM
22. 2026-08-27
    days on market $99,500 Active 154 DOM
23. 2026-08-26
    days on market $99,500 Active 153 DOM
24. 2026-08-25
    days on market $99,500 Active 152 DOM
25. 2026-08-24
    days on market $99,500 Active 151 DOM
26. 2026-08-23
    days on market $99,500 Active 150 DOM
27. 2026-08-22
    days on market $99,500 Active 149 DOM
28. 2026-08-21
    days on market $99,500 Active 148 DOM
29. 2026-08-20
    days on market $99,500 Active 147 DOM
30. 2026-08-19
    days on market $99,500 Active 146 DOM
31. 2026-08-18
    days on market $99,500 Active 145 DOM
32. 2026-08-17
    days on market $99,500 Active 144 DOM
33. 2026-08-16
    days on market $99,500 Active 143 DOM
34. 2026-08-15
    days on market $99,500 Active 142 DOM
35. 2026-08-14
    days on market $99,500 Active 141 DOM
36. 2026-08-13
    days on market $99,500 Active 140 DOM
37. 2026-08-12
    days on market $99,500 Active 139 DOM
38. 2026-08-11
    days on market $99,500 Active 138 DOM
39. 2026-08-10
    days on market $99,500 Active 137 DOM
40. 2026-08-09
    days on market $99,500 Active 136 DOM
41. 2026-08-08
    days on market $99,500 Active 135 DOM
42. 2026-08-07
    days on market $99,500 Active 134 DOM
43. 2026-08-06
    days on market $99,500 Active 133 DOM
44. 2026-08-05
    days on market $99,500 Active 132 DOM
45. 2026-08-04
    days on market $99,500 Active 131 DOM
46. 2026-08-03
    days on market $99,500 Active 130 DOM
47. 2026-07-31
    days on market $99,500 Active 127 DOM
48. 2026-07-29
    days on market $99,500 Active 125 DOM
49. 2026-07-28
    days on market $99,500 Active 124 DOM
50. 2026-07-27
    days on market $99,500 Active 123 DOM

ⓘ 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: $11,088
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$887
• − Management: −$887
• − HOA: −$7,800
• − Depreciation: −$2,895
• Taxable loss: −$8,944
• Est. tax savings @ 24.0%: +$2,147
• After-tax cash flow: $-5,145/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

Excellent 95/100 None rehab

This fully renovated, move-in-ready home offers modern living with fresh updates and a sleek, low-maintenance design.

Value-add opportunities

• Resale Painting exterior siding — Enhances curb appeal and can add value ↑
• Rental Landscaping improvements — Attracts tenants and enhances curb appeal ↑

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary New Hanover Township School F NJ #878/1,303 Nat'l #30,133/41,679 Middle Northern Burlington County Regional Middle School F NJ #182/431 Nat'l #5,602/14,009 High Northern Burlington County Regional High School F NJ #166/399 Nat'l #7,501/17,239

Schools (NCES district)

• District: Northern Burlington County Regional School District
• NCES district ID: 3411700
• Math proficiency: 27% ▼ -22.00%
• Reading proficiency: 57% ▼ -10.00%
• Median HH income: $82,110
• Composite: 39.1/100
• National rank: #4042
• State rank: #198 of 472 in NJ

Livability — North Hanover

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Burlington · 453,425 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 4,301
• Household income: $89,766
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 32% of renters

---

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Two or more races 22% Hispanic / Latino 15% Black 6%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 84% English-only · Spanish 12% Russian/Polish/Slavic 2% Tagalog/Filipino 1%

---

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.34%
• Current HPI: 306.1085
• 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

Property features AI

Finance

• Other: Fee simple ownershipLease not considered
• HOA & community: HOA fee $650 monthly

Exterior

• Parking: Other parking
• Utilities: Public waterPublic sewerElectric hot water
• Home design: Manufactured homeAbove-grade other structures
• Construction: Year built estimated
• Exterior features: Not in a federal flood zoneNo tidal water

Interior

• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level1 full bathroom total
• Heating & cooling: Central air conditioningOther heatingElectric hot water
• Interior features: Not furnishedEstimated living area

Price history

-11.6% since first listed

5 events — show timeline

• 2026-03-26 Listed $99,500 BRIGHT MLS
• 2026-03-26 Listed $99,500 MOMLS
• 2026-03-20 Listing Removed — BRIGHT MLS
• 2026-01-08 Listed $112,500 BRIGHT MLS
• 2025-11-21 Listed $112,500 MOMLS