49 Union St

Vincentown, NJ 08060

$355,000B-

5 bd · 2.0 ba · 2,802 sqft · Built 1848 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,404/mo
• Mortgage (P&I): −$1,862
• Tax + insurance: −$738
• HOA: −$0
• Vac / Maint / Mgmt: −$925
• Net cashflow: $880/mo
• Annual: $10,557/yr
• Cap rate: 9.27%
• Cash-on-cash: 10.62%
• DSCR: 1.47
• 1% rule: 1.24%
• Cash to close: $99,400

Investor read

• This is a 5-bed/2.0-bath single-family listed at $355k.
• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $355k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Rancocas Valley Regional High School District (suburban): math 29% / reading 49% proficiency, ranked #236 of 472 in NJ (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rancocas Valley Regional High School (math 29% / reading 49%, grade F, #197 of 399 statewide, top 51%, 1,981 students, 25% FRL).
• Watch-outs: built in 1848 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.4%/yr); 134 active listings in the ZIP; 3 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; 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.
• 3 sale attempts since 19y 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 $180k; list at $355k implies a 97% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 54% 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 9.3% vs local median 4.5% in Vincentown — 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.
• At $4,404/mo this rent would consume 48% of the median local household income ($109k/yr) (locally 562% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1848 — 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.
• 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.