3204 Alabama · Camden, NJ 08104

$130,000

3 bd · 1.5 ba · 1,078 sqft · SingleFamily public records · 29 Days on market

Built 1918 1,224 sqft lot

---

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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large Three Bedroom Townhouse. Enclosed Front Porch. Fenced Back Yard. Eat In Kitchen With Lots Of Cabinets. Powder Room Off Kitchen Washer, Dryer Included Poss:Settle

Key facts

• Small backyard
• Prime location
• Built 1918

Tags

• SMALL BACKYARD
• INVITING LIVING SPACES
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 7.1% in Camden — 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 70/100 on livability (#262 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A; Watch: schools F, crime F, employment F.
• Camden City School District (urban): math 3% / reading 16% proficiency, ranked #472 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 95 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Camden 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $30k; list at $130k implies a 333% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — 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: 1.33% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.71%
• DSCR: 1.65
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $266,266
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1433 N Chesapeake Rd	0.25mi	2/1.5 (-1)	1,048 (-3%)	2mo	$195,000	$186	77
1504 Minnesota Rd	0.13mi	3/1.0	1,145 (+6%)	17mo	$155,000	$135	68
130 Yale Ave	0.44mi	3/1.0	1,072 (-1%)	14mo	$265,000	$247	65
304 Marlborough Ave	0.58mi	3/1.0	1,092 (+1%)	13mo	$385,000	$353	58
128 Bellevue Ave	0.54mi	2/1.0 (-1)	964 (-11%)	0mo	$285,000	$296	50
2894 Tuckahoe Rd	0.62mi	3/1.0	1,000 (-7%)	10mo	$99,000	$99	48
303 Wilson Ave	0.71mi	3/2.0	1,126 (+4%)	12mo	$299,900	$266	47
312 Washington Ave	0.72mi	3/—	1,216 (+13%)	1mo	$425,000	$350	44
17 Barlow Ave	0.61mi	2/2.0 (-1)	964 (-11%)	4mo	$155,000	$161	44
114 Harvard Ave	0.62mi	2/1.0 (-1)	980 (-9%)	11mo	$210,000	$214	40
119 Reading Ave	0.74mi	2/1.0 (-1)	1,048 (-3%)	17mo	$265,000	$253	40
315 Nicholson Rd	0.66mi	3/1.0	1,220 (+13%)	18mo	$290,000	$238	30

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $7,389
• Equity at exit: $19,383

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $43,182
• Equity at exit: $11,240

Cash invested: $36,400 (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 08104

• Active inventory: 95
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,728 high
• Mortgage (P&I): −$682
• Tax from tax record: −$183 /mo · $2,197/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $446

Break-even live

Break-even rent $1,163

Max offer price $130,000

Occupancy floor 69%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3255 Crescent Dr Unit 03-3220 Camden, NJ	2.0	1.0	700	$1,350	$1.93	24d	1	0.07mi
3132 Independence Rd Camden, NJ	3.0	1.5	1168	$1,595	$1.37	22d	1	0.14mi
3079 Alabama Rd Camden, NJ	2.0	1.0	832	$1,700	$2.04	24d	1	0.27mi
1220 Grant Ave Unit 2 Oaklyn, NJ	2.0	1.0	1000	$1,800	$1.80	20d	1	0.29mi
2892 N Constitution Rd Camden, NJ	3.0	1.0	1040	$2,000	$1.92	24d	1	0.37mi
1034 Collings Ave Oaklyn, NJ	2.0	1.0	1100	$1,750	$1.59	18d	1	0.50mi
1021 Monitor Rd Camden, NJ	3.0	1.0	1012	$1,710	$1.69	24d	1	0.55mi
1063 S Merrimac Rd Camden, NJ	4.0	1.0	1024	$1,900	$1.86	24d	1	0.55mi
301 Champion Ave Oaklyn, NJ	2.0	1.0	661	$1,770	$2.68	4d	3	0.58mi
3136 Tuckahoe Rd Camden, NJ	2.0	1.0	800	$1,350	$1.69	24d	1	0.58mi
2829 Idaho Rd Camden, NJ	3.0	1.5	1048	$1,700	$1.62	24d	1	0.59mi
430 Richey Ave Unit 1A Oaklyn, NJ	2.0	1.0	897	$2,100	$2.34	4d	1	0.83mi
209 Cedar Ave Oaklyn, NJ	2.0	1.0	1400	$1,800	$1.29	5d	1	0.90mi
209 Cedar Ave Oaklyn, NJ	2.0	1.0	1400	$1,500	$1.07	16d	1	0.90mi
5 Meadow Ln Gloucester City, NJ	1.0–2.0	1.0–2.0	833	$2,385	$2.86	24d	8	0.94mi
145 Cooper Ave Unit 1N Woodlynne, NJ	2.0	1.0	850	$1,725	$2.03	18d	1	0.98mi
700 W Browning Rd Oaklyn, NJ	1.0–2.0	1.0	739	$1,867	$2.53	1d	40	0.98mi
141 Cooper Ave Oaklyn, NJ	2.0	1.0	850	$1,725	$2.03	24d	1	0.99mi
412 White Horse Pike Unit C Oaklyn, NJ	4.0	1.0	1000	$1,900	$1.90	24d	1	1.01mi
2 W Oakland Ave Oaklyn, NJ	2.0	1.0	750	$1,425	$1.90	24d	1	1.06mi
534 Bergen St Gloucester City, NJ	3.0	1.0	1246	$2,000	$1.61	18d	1	1.24mi
334 Middlesex St Gloucester City, NJ	3.0	1.0	896	$1,800	$2.01	24d	1	1.30mi
117 W Nicholson Rd Audubon, NJ	2.0	1.0	1300	$2,600	$2.00	24d	1	1.39mi
225 Haddon Ave Collingswood, NJ	2.0	2.0	1211	$3,372	$2.78	1d	6	1.44mi
227 S Broadway Gloucester City, NJ	3.0	1.0	1123	$1,775	$1.58	24d	1	1.47mi

Listing history 9 events

1. 2025-09-23
   status Pending
2. 2025-06-30
   historical Active Under Contract
3. 2025-06-25
   price $130,000
4. 2025-05-31
   listed $120,000 Active
5. 1998-11-18
   soldstatus $30,000
6. 1998-10-30
   soldstatus $30,000 167-char remark

   Show marketing remark (167 chars)

   Large Three Bedroom Townhouse. Enclosed Front Porch. Fenced Back Yard. Eat In Kitchen With Lots Of Cabinets. Powder Room Off Kitchen Washer, Dryer Included Poss:Settle

7. 1998-09-22
   historical 167-char remark

   Show marketing remark (167 chars)

   Large Three Bedroom Townhouse. Enclosed Front Porch. Fenced Back Yard. Eat In Kitchen With Lots Of Cabinets. Powder Room Off Kitchen Washer, Dryer Included Poss:Settle

8. 1998-02-27
   listed $30,000 167-char remark

   Show marketing remark (167 chars)

   Large Three Bedroom Townhouse. Enclosed Front Porch. Fenced Back Yard. Eat In Kitchen With Lots Of Cabinets. Powder Room Off Kitchen Washer, Dryer Included Poss:Settle

9. 1986-04-23
   soldstatus $10,000

ⓘ 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: $2,197 · $183/mo
• Projected year-2 tax: $2,717 · $226/mo
• Expected delta: +$520/yr (+$43/mo · 23.7%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,737
• − Mortgage interest: −$7,282
• − Property taxes: −$2,197
• − Insurance: −$650
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$3,782
• Taxable income: $3,508
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $4,512/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: Camden City School District
• NCES district ID: 3402640
• Math proficiency: 3% ▼ -6.00%
• Reading proficiency: 16% ▬ 0.00%
• Median HH income: $25,845
• Composite: 6.85/100
• National rank: #9981
• State rank: #472 of 472 in NJ

Livability — Camden

• Score: 70/100
• State rank: #262
• US rank: #7721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Camden, NJ
• City population: 20,865
• Population (ZIP): 21,508

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 53% Hispanic / Latino 40% Two or more races 9% White 2% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 22% Cuban 2% Dominican 9%
• Common ancestry: Hispanic 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 69% English-only · Spanish 29% Vietnamese 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.43%
• Current HPI: 209.3596
• 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

+1200.0% since first listed

9 events — show timeline

• 2025-09-23 Pending — BRIGHT MLS
• 2025-06-30 Contingent — BRIGHT MLS
• 2025-06-25 Price Changed $130,000 BRIGHT MLS
• 2025-05-31 Listed $120,000 BRIGHT MLS
• 1998-11-18 Sold (Public Records) $30,000 Public Records
• 1998-10-30 Sold (MLS) $30,000 BRIGHT MLS
• 1998-09-22 Listing Removed — BRIGHT MLS
• 1998-02-27 Listed $30,000 BRIGHT MLS
• 1986-04-23 Sold (Public Records) $10,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $2,197 · +4.1% YoY. Source: county tax records.