20 Miniature Ln

Beverly, NJ 08046

$385,000F

4 bd · 2.0 ba · 1,372 sqft · Built 1961 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,507/mo
• Mortgage (P&I): −$2,019
• Tax + insurance: −$614
• HOA: −$0
• Vac / Maint / Mgmt: −$737
• Net cashflow: $137/mo
• Annual: $1,647/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• 1% rule: 0.91%
• Cash to close: $107,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $385k.
• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $351k (8.9% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $351k (8.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#130 in NJ, #3,487 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A; Watch: amenities F.
• Willingboro Public School District (suburban): math 5% / reading 30% proficiency, ranked #433 of 472 in NJ (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: W. R. James Sr. Elementary School (math 2% / reading 22%, grade F, #1,172 of 1,303 statewide, top 91%, 348 students, 9% FRL); Willingboro Memorial Middle School (math 5% / reading 34%, grade F, #398 of 431 statewide, top 93%, 600 students, 8% FRL); Willingboro High School (math 2% / reading 37%, grade F, #354 of 399 statewide, top 89%, 842 students, 0% FRL) — zoned schools average 5% FRL vs 48% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 155 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington 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.
• Current owner paid $225k; list at $385k implies a 71% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 5.1% in Beverly — 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.
• This rent runs 43% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.