13B Pheasant St · Cedar Glen West, NJ 08759

$98,900

2 bd · 1.0 ba · 1,100 sqft · SingleFamily · 15 Days on market

Built 1970 Good condition $90/sqft · at area comps Est $101k · at est. $495/mo HOA · 22% of rent

---

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 +8.2/15.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly painted and New Recess Lighting, MOVE IN READY. NEWER CENTRAL A/C Cedar Glen West Co-Op 55 plus Community This Highly sought after 2 Bedroom Duplex has 1,100 SqFt with, Luxury Vinyl Plank Flooring Throughout. Large Eat-In-Kitchen with a Back Door that leads to a Spacious Deck. This Home has a NEWER Central A/C, The primary Bedroom has a Large double closet with Mirror Doors. Living here you are close to Nearby Swimming lakes with Lifeguards and a Short Drive to Atlantic City. Take the Community Bus to Nearby shopping and enjoy living in this Beautiful Community. The Hoa Fee Covers Property Taxes, Water and Sewer, Roof, Lawn maintenance and snow removal, Furnace Repairs and Hot wate

Key facts

• Large eat-in-kitchen
• Spacious deck
• New recess lighting

Tags

• NEW RECESS LIGHTING
• LUXURY VINYL PLANK FLOORING
• LARGE EAT-IN-KITCHEN
• SPACIOUS DECK

Property features AI

Finance

• HOA & community: Part of Cedar Glen West association; Monthly association fee of $495; Association fee covers trash, common area, lawn maintenance, sewer, and water; Community amenities include clubhouse, community room, bocce, landscaping, and common access (no pool)

Exterior

• Parking: No garage
• Utilities: Septic tank sewer
• Home design: Cooperative ownership; Model: Quail 2 BDRM
• Construction: Crawl space foundation
• Exterior features: Timberline/Shingle roof

Interior

• Kitchen: Stove; Gas cooking
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating with baseboard units; Central air conditioning
• Interior features: Ceiling fans; Blinds/Shades; Light fixtures; Timer thermostat
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 3.8% in Cedar Glen West — 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 (#366 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 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 $684 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 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 22% of rent.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,416 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.22% ✓
• Cap rate: 13.08%
• Cash-on-cash: 24.25%
• DSCR: 2.08
• GRM: 3.7

CMA / ARV

• ARV (median comp): $100,545
• List price: $98,900
• Delta: -1.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2C Dove St	0.17mi	2/1.0	970 (-12%)	6mo	$78,000	$80	67
9 D Dove St Unit D	0.24mi	2/1.0	970 (-12%)	6mo	$57,500	$59	65
6 Dove St Unit D	0.20mi	1/1.0 (-1)	970 (-12%)	3mo	$80,000	$82	64
22 C Robin St	0.38mi	2/1.0	970 (-12%)	3mo	$158,000	$163	60
12 Heron St Unit D	0.34mi	1/1.0 (-1)	980 (-11%)	1mo	$120,000	$122	60
16 B Dove St	0.32mi	1/1.0 (-1)	970 (-12%)	1mo	$73,000	$75	60
12A Robin St Unit A	0.27mi	1/1.0 (-1)	970 (-12%)	6mo	$109,900	$113	57
6 C Swallow St	0.48mi	2/1.0	970 (-12%)	2mo	$110,000	$113	56
18 Dove St Unit A	0.32mi	1/1.0 (-1)	970 (-12%)	6mo	$69,900	$72	56
17 Heron St Unit D	0.37mi	1/1.0 (-1)	970 (-12%)	4mo	$55,000	$57	55
5 Blue Jay St Unit A	0.45mi	1/1.0 (-1)	970 (-12%)	3mo	$53,000	$55	52
4 Flamingo Ter Unit A	0.48mi	1/1.0 (-1)	970 (-12%)	5mo	$45,000	$46	49

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: 17.8%
• Equity multiple: 1.72×
• Total profit: $19,948
• Equity at exit: $14,746

10-year hold

• IRR: 26.4%
• Equity multiple: 3.33×
• Total profit: $64,628
• Equity at exit: $8,551

Cash invested: $27,692 (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 08759

• Active inventory: 648
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,484/yr
• Insurance: −$41
• HOA: −$495
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $560

Break-even live

Break-even rent $1,492

Max offer price $98,900

Occupancy floor 70%

Sensitivity live

Price	-10% $628	-5% $594	+0% $560	+5% $525	+10% $491
Rent	-10% $386	-5% $473	+0% $560	+5% $646	+10% $733
Rate	-1.0pp $609	-0.5pp $585	base $560	+0.5pp $534	+1.0pp $508

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73 Buckingham Dr N Manchester, NJ	2.0	2.0	967	$2,200	$2.28	44d	1	1.22mi

HOA detail

• Monthly dues: $495 · $5,940/yr
• Likely covers: watersewersnow removal

Listing history 6 events

1. 2026-06-02
   statusdays on market $98,900 Pending 15 DOM
2. 2026-06-01
   days on market $98,900 Active 14 DOM
3. 2026-05-31
   days on market $98,900 Active 13 DOM
4. 2026-05-18
   listed $98,900 Active 774-char remark
5. 2026-04-26
   status Active
6. 2025-11-17
   listed $98,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,400
• − Mortgage interest: −$5,540
• − Property taxes: −$1,484
• − Insurance: −$494
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − HOA: −$5,940
• − Depreciation: −$2,877
• Taxable income: $5,841
• Est. tax owed @ 24.0%: −$1,402
• After-tax cash flow: $5,312/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

Good 80/100 Cosmetic rehab

This 2-bedroom duplex is move-in ready with fresh paint and new recess lighting. Minor updates to the kitchen and bathroom would significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Aesthetic update needed
• Minor Bathtub and fixtures — Update needed for functionality and appearance

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace countertops — Improves functionality and aesthetics
• Both Update kitchen cabinets — Modernizes the space and adds value
• Both Replace bathtub and fixtures — Improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aesthetic update needed	Minor	$500–3,000
Bathtub and fixtures · Update needed for functionality and appearance	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace countertops — Improves functionality and aesthetics ↑
• Both Update kitchen cabinets — Modernizes the space and adds value ↑
• Both Replace bathtub and fixtures — Improves functionality and aesthetics ↑

ⓘ 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: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Cedar Glen West

• Score: 66/100
• State rank: #366
• US rank: #12309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Glen West, NJ
• Population (ZIP): 34,290

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 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -347.85%
• Current HPI: 274.4679
• 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

+0.0% since first listed

4 events — show timeline

• 2026-06-02 Pending — MOMLS
• 2026-05-18 Listed $98,900 MOMLS
• 2026-04-26 Relisted — MOMLS
• 2025-11-17 Listed $98,900 MOMLS