93 Overlook Dr

Clinton, NJ 08809-1133

$249,900D

1 bd · 1.0 ba · 1,022 sqft · Built 1976 · Townhouse · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,188/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$416
• HOA: −$409
• Vac / Maint / Mgmt: −$460
• Net cashflow: $-407/mo
• Annual: $-4,887/yr
• Cap rate: 4.34%
• Cash-on-cash: -6.98%
• DSCR: 0.69
• 1% rule: 0.88%
• Cash to close: $69,972

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $250k. Condition is rated good.
• At list price, monthly cash flow is $-407 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (12.4% below list).
• It's been on market 98 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $191k (23.6% below list) — sets the bar for cash-flow.
• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Location reads 75/100 on livability (#161 in NJ, #4,210 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Union Township School District (rural): math 40% / reading 65% proficiency, ranked #93 of 472 in NJ (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Union Township Elementary School (math 62% / reading 72%, grade B+, #42 of 1,303 statewide, top 4%, 206 students, 2% FRL); Union Township Middle School (math 32% / reading 62%, grade D+, #129 of 431 statewide, top 32%, 223 students, 2% FRL); North Hunterdon High School (math 38% / reading 67%, grade C-, #90 of 399 statewide, top 22%, 1,237 students, 2% FRL) — zoned schools at 2% FRL track the district average.
• Market conditions: 2 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 389 units permitted in Hunterdon County in 2024 (180 in 5+ unit buildings).
• Hunterdon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — dated and could be replaced
• Minor: kitchen backsplash — tile could be updated