313 Sassafras St · Millville, NJ 08332

$165,000

2 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 20 Days on market

Built 1907 3,990 sqft lot Est $226k · 27% under

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Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Step back in time and bring this beautiful 1907 home back to life! Rich with character this 2-bedroom, 1-bath residence offers a wonderful opportunity for those looking to restore and personalize a classic home. Inside, you'll find an inviting open floor plan and ceiling fans throughout for added comfort. The home is serviced by gas heat and electric utilities and offers endless possibilities for renovation and modernization while preserving its timeless appeal. A spacious workshop out back provides the perfect space for hobbies, projects, storage, or a future creative studio. With a little TLC, this property has the potential to become a truly stunning residence that blends historic beauty

Key facts

• Open floor plan
• Ceiling fans
• Gas heat

Tags

• OPEN FLOOR PLAN
• CEILING FANS
• GAS HEAT
• SPACIOUS WORKSHOP

Property features AI

Exterior

• Parking: On-street parking; Driveway parking (2 spaces)
• Utilities: Public water; Public sewer; Natural gas for heating and hot water
• Home design: Fee simple ownership; Frame construction
• Construction: Frame construction; Other structures above grade and below grade
• Exterior features: Lot dimensions approximately 30 x 133

Interior

• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: 90% forced air heating (natural gas); Ceiling fans; Window AC units; Hot water: Natural gas
• Interior features: Basement (combination); Living area source: Assessor

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/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 $158k (4.4% below list).
• Recommended offer: $158k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.2% in Millville — 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 63/100 on livability (#431 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Millville School District (suburban): math 6% / reading 28% proficiency, ranked #447 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Silver Run Elementary School (math 0% / reading 19%, grade F, #1,235 of 1,303 statewide, top 96%, 427 students, 91% FRL); Lakeside Middle School (math 5% / reading 31%, grade F, #405 of 431 statewide, top 95%, 987 students, 70% FRL); Millville Senior High School (math 24% / reading 24%, grade F, #327 of 399 statewide, top 82%, 1,640 students, 68% FRL) — zoned schools average 76% FRL vs 60% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.9%/yr); 297 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 216 units permitted in Cumberland County in 2024 (73 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.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; major 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 $157,695 (4.4% below list)

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.96% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.94%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $225,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 E Main St	0.14mi	2/1.0	1,160 (+7%)	2mo	$129,000	$111	75
125 S 10th St S S	0.54mi	3/2.0 (+1)	1,088 (+1%)	5mo	$295,000	$271	64
17-19 S 5th St S	0.16mi	3/1.0 (+1)	968 (-10%)	8mo	$175,000	$181	60
311 N 10th St N N	0.55mi	2/1.0	981 (-9%)	3mo	$235,000	$240	52
908 Sassafras St	0.45mi	2/1.0	964 (-11%)	6mo	$190,000	$197	52
523 Broad St E	0.45mi	1/1.0 (-1)	1,170 (+8%)	6mo	$58,750	$50	51
607 E Mulberry St	0.26mi	3/1.0 (+1)	924 (-14%)	7mo	$194,900	$211	49
6 N 10th St	0.48mi	3/1.0 (+1)	1,221 (+13%)	6mo	$255,000	$209	41
811 N 7th St	0.71mi	2/2.0	1,234 (+14%)	4mo	$26,000	$21	40
404 Maurice St	0.72mi	2/1.0	936 (-13%)	1mo	$196,500	$210	40
19 W Mcneal St W	0.72mi	3/1.0 (+1)	1,182 (+9%)	8mo	$235,000	$199	36
318 W Race St	0.72mi	3/2.0 (+1)	1,232 (+14%)	8mo	$265,000	$215	32

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-21,184
• Equity at exit: $24,602

10-year hold

• IRR: -5.5%
• Equity multiple: 0.66×
• Total profit: $-15,785
• Equity at exit: $14,266

Cash invested: $46,200 (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 08332

• Home prices YoY: -28.9%
• Rents YoY: 1.9%
• Active inventory: 297
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,577 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$199 /mo · $2,385/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $113

Break-even live

Break-even rent $1,434

Max offer price $165,000

Occupancy floor 88%

Sensitivity live

Price	-10% $206	-5% $160	+0% $113	+5% $66	+10% $20
Rent	-10% $-12	-5% $51	+0% $113	+5% $175	+10% $238
Rate	-1.0pp $196	-0.5pp $155	base $113	+0.5pp $70	+1.0pp $27

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 W Main St Unit B Millville, NJ	3.0	1.0	1384	$1,500	$1.08	45d	1	0.43mi
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	45d	1	0.63mi
301 N Wade Blvd Millville, NJ	1.0–2.0	1.0	1005	$1,715	$1.71	15d	10	1.00mi

Listing history 14 events

1. 2026-06-22
   days on market $165,000 Active 20 DOM
2. 2026-06-19
   days on market $165,000 Active 18 DOM
3. 2026-06-18
   days on market $165,000 Active 17 DOM
4. 2026-06-17
   days on market $165,000 Active 16 DOM
5. 2026-06-16
   days on market $165,000 Active 15 DOM
6. 2026-06-15
   days on market $165,000 Active 14 DOM
7. 2026-06-14
   days on market $165,000 Active 12 DOM
8. 2026-06-13
   days on market $165,000 Active 11 DOM
9. 2026-06-10
   days on market $165,000 Active 9 DOM
10. 2026-06-09
    days on market $165,000 Active 8 DOM
11. 2026-06-08
    days on market $165,000 Active 7 DOM
12. 2026-06-07
    days on market $165,000 Active 6 DOM
13. 2026-06-01
    remarks 699-char remark
14. 2026-06-01
    listed $165,000 Active 1 DOM

ⓘ 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: $2,385 · $199/mo
• Projected year-2 tax: $3,247 · $271/mo
• Expected delta: +$862/yr (+$72/mo · 36.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,923
• − Mortgage interest: −$9,243
• − Property taxes: −$2,385
• − Insurance: −$825
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$4,800
• Taxable loss: −$1,357
• Est. tax savings @ 24.0%: +$326
• After-tax cash flow: $1,682/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: Millville School District
• NCES district ID: 3410320
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $48,851
• Composite: 15.23/100
• National rank: #9338
• State rank: #447 of 472 in NJ

Livability — Millville

• Score: 63/100
• State rank: #431
• US rank: #15561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, NJ
• County: Cumberland County · 80,266 people
• City population: 35,228
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 35,228
• Household income: $67,496
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1761.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.45%
• Current HPI: 274.8011
• Rent YoY: ▲ 1.94%
• Metro: Vineland-Bridgeton, NJ
• 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

1 event — show timeline

• 2026-06-01 Listed $165,000 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2025): $2,385 · +3.3% YoY. Source: county tax records.