1509 Garfield Ave · Pleasantville, NJ 08232

$169,000

3 bd · 1.0 ba · 711 sqft · SingleFamily public records · 40 Days on market

Built 1955 $238/sqft · 6% below area Est $194k · 13% under

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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 +29.2/30.0
• ARV discount +13.4/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cottage with 2 bedroom, 1 bath, electric heat, Pergo vinyl flooring, vinyl replacement windows. Adjacent lot available with the house. Previously rented for $550/month. Easy to show.

Key facts

• 3 parking spots
• Built 1955
• Listed 40 days

Property features AI

Exterior

• Parking: Exterior parking for three or more cars; No garage
• Utilities: Public water; Public sewer
• Home design: Property offered for sale; Age: 25+ years
• Construction: Stucco siding
• Exterior features: Stucco exterior; Lot dimensions approximately 60 x 80; Zoned R-75; Not waterfront

Interior

• Kitchen: Dishwasher; Electric stove; Refrigerator
• Flooring: Tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Dishwasher; Electric stove; Refrigerator; Tile and laminate flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.5% in Pleasantville — 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 73/100 on livability (#194 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: crime C-, amenities F, employment D-.
• Pleasantville Public School District (suburban): math 6% / reading 28% proficiency, ranked #451 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pleasantville Middle School (math 6% / reading 33%, grade F, #398 of 431 statewide, top 93%, 883 students, 85% FRL); Pleasantville High School (math 10% / reading 28%, grade F, #361 of 399 statewide, top 91%, 924 students, 79% FRL) — zoned schools at 82% FRL track the district average.
• Market conditions: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 672 units permitted in Atlantic County in 2024 (258 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 $5k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $90k; list at $169k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 5.6

CMA / ARV

• ARV (median comp): $194,443
• List price: $169,000
• Delta: -13.08%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
808 W Ashland Ave	0.21mi	2/1.0 (-1)	714 (+0%)	17mo	$205,000	$287	71

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: 5.5%
• Equity multiple: 1.22×
• Total profit: $10,197
• Equity at exit: $25,198

10-year hold

• IRR: 15.0%
• Equity multiple: 2.22×
• Total profit: $57,751
• Equity at exit: $14,612

Cash invested: $47,320 (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 08232

• Home prices YoY: -17.3%
• Active inventory: 83
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$431 /mo · $5,172/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $587

Break-even live

Break-even rent $1,757

Max offer price $169,000

Occupancy floor 72%

Sensitivity live

Price	-10% $683	-5% $635	+0% $587	+5% $540	+10% $492
Rent	-10% $390	-5% $489	+0% $587	+5% $686	+10% $785
Rate	-1.0pp $672	-0.5pp $630	base $587	+0.5pp $544	+1.0pp $499

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 W Ridgewood Ave Pleasantville, NJ	1.0–3.0	1.0–1.5	905	$2,500	$2.76	22d	1	0.76mi

Listing history 30 events

1. 2026-06-22
   days on market $169,000 Active 40 DOM
2. 2026-06-19
   days on market $169,000 Active 38 DOM
3. 2026-06-18
   days on market $169,000 Active 37 DOM
4. 2026-06-17
   days on market $169,000 Active 36 DOM
5. 2026-06-16
   days on market $169,000 Active 35 DOM
6. 2026-06-15
   days on market $169,000 Active 34 DOM
7. 2026-06-14
   days on market $169,000 Active 32 DOM
8. 2026-06-13
   days on market $169,000 Active 31 DOM
9. 2026-06-10
   days on market $169,000 Active 29 DOM
10. 2026-06-09
    days on market $169,000 Active 28 DOM
11. 2026-06-08
    days on market $169,000 Active 27 DOM
12. 2026-06-07
    days on market $169,000 Active 26 DOM
13. 2026-06-02
    days on market $169,000 Active 21 DOM
14. 2026-06-01
    days on market $169,000 Active 20 DOM
15. 2026-05-31
    days on market $169,000 Active 19 DOM
16. 2026-05-30
    days on market $169,000 Active 18 DOM
17. 2026-05-12
    listed $169,000 Active 227-char remark
18. 2017-01-01
    historical 182-char remark

    Show marketing remark (182 chars)

    Cottage with 2 bedroom, 1 bath, electric heat, Pergo vinyl flooring, vinyl replacement windows. Adjacent lot available with the house. Previously rented for $550/month. Easy to show.

19. 2016-07-11
    listed $54,900 Active 182-char remark

    Show marketing remark (182 chars)

    Cottage with 2 bedroom, 1 bath, electric heat, Pergo vinyl flooring, vinyl replacement windows. Adjacent lot available with the house. Previously rented for $550/month. Easy to show.

20. 2007-02-06
    soldstatus $90,000
21. 2005-03-17
    soldstatus $90,000
22. 2005-03-17
    soldstatus $90,000
23. 2005-03-17
    soldstatus $90,000
24. 2005-03-17
    soldstatus $90,000
25. 2005-03-17
    soldstatus $90,000
26. 2005-03-17
    soldstatus $1
27. 2005-03-17
    soldstatus $1
28. 2005-03-17
    soldstatus $1
29. 2005-03-17
    soldstatus $1
30. 2005-03-17
    soldstatus $1

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $5,172 · $431/mo
• Projected year-2 tax: $5,172 · $431/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$9,467
• − Property taxes: −$5,172
• − Insurance: −$845
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$4,916
• Taxable income: $4,800
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $5,896/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: Pleasantville Public School District
• NCES district ID: 3413200
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $39,569
• Composite: 14.34/100
• National rank: #9440
• State rank: #451 of 472 in NJ

Livability — Pleasantville

• Score: 73/100
• State rank: #194
• US rank: #5487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasantville, NJ
• Population (ZIP): 20,200

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 52% Black 33% Two or more races 22% White 6% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 12% Dominican 14%
• Common ancestry: Hispanic 1%
• Foreign-born: 30% · Canada, Jamaica, Vietnam
• Languages at home: 44% English-only · Spanish 48% French/Haitian/Cajun 5% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.51%
• Current HPI: 346.2085
• 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

+87.8% since first listed

14 events — show timeline

• 2026-05-12 Listed $169,000 SJSRMLS
• 2017-01-01 Listing Removed — SJSRMLS
• 2016-07-11 Listed $54,900 SJSRMLS
• 2007-02-06 Sold (Public Records) $90,000 Public Records
• 2005-03-17 Sold (Public Records) $1 Public Records
• 2005-03-17 Sold (Public Records) $1 Public Records
• 2005-03-17 Sold (Public Records) $1 Public Records
• 2005-03-17 Sold (Public Records) $1 Public Records
• 2005-03-17 Sold (Public Records) $1 Public Records
• 2005-03-17 Sold (Public Records) $90,000 Public Records
• 2005-03-17 Sold (Public Records) $90,000 Public Records
• 2005-03-17 Sold (Public Records) $90,000 Public Records
• 2005-03-17 Sold (Public Records) $90,000 Public Records
• 2005-03-17 Sold (Public Records) $90,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $5,172 · +3.1% YoY. Source: county tax records.