79 Burr St

Williamstown, NJ 08094

$339,000D-

3 bd · 2.0 ba · 1,567 sqft · Built 2021 · Townhouse · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,833/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$297
• HOA: −$200
• Vac / Maint / Mgmt: −$595
• Net cashflow: $-37/mo
• Annual: $-444/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• 1% rule: 0.84%
• Cash to close: $94,920

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $339k.
• At list price, monthly cash flow is $-37 ($-444/yr) — negative.
• To cash-flow at today's rent, offer at most $332k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (16.4% below list).
• It's been on market 61 days — a 6% lower offer ($319k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $283k (16.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#289 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Monroe Township Public School District (suburban): math 20% / reading 45% proficiency, ranked #302 of 472 in NJ (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Knoll Elementary School (math 23% / reading 44%, grade F, #647 of 1,303 statewide, top 50%, 641 students, 26% FRL); Williamstown Middle School (math 18% / reading 43%, grade F, #303 of 431 statewide, top 72%, 1,819 students, 30% FRL); Williamstown High School (math 21% / reading 50%, grade F, #234 of 399 statewide, top 59%, 1,782 students, 26% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 268 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• Gloucester County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 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.
• Cap rate 6.2% vs local median 4.9% in Williamstown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 35% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.