223 S 4th St · Millville, NJ 08332

$184,900

4 bd · 1.0 ba · 1,460 sqft · SingleFamily public records · 66 Days on market

Built 1902 5,760 sqft lot Est $260k · 29% 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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.5/10.0
• 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 MLS

Move-in-ready two-story home featuring modern upgrades. The main level offers a living room, dining room, kitchen, and a bedroom. Dual staircases lead to the second floor, which includes three additional bedrooms and a full bathroom. A walk-up third-floor attic provides excellent potential for additional living space. Major upgrades within the past two years include new flooring, fresh paint, new light fixtures and updated kitchen and bathroom. The exterior of the home was just painted. Property is being sold strictly as is.

Key facts

• Fresh paint
• Modern upgrades
• New flooring

Tags

• MODERN UPGRADES
• WALK-UP THIRD-FLOOR ATTIC
• NEW FLOORING
• FRESH PAINT
• NEW LIGHT FIXTURES
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: schools F, crime F, amenities 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.
• Market conditions: Rents rising (+1.9%/yr); 296 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 66 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y 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 $130k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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.

Recommended offer $173,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $259,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 S 3rd	0.05mi	3/2.0 (-1)	1,560 (+7%)	0mo	$223,000	$143	77
237 S 3rd St	0.06mi	3/1.5 (-1)	1,622 (+11%)	5mo	$145,000	$89	68
16 N 5th St N	0.20mi	3/1.0 (-1)	1,312 (-10%)	5mo	$125,000	$95	65
207 S 9th St	0.37mi	3/2.5 (-1)	1,384 (-5%)	0mo	$335,000	$242	63
700 Magnolia Ave	0.58mi	3/1.0 (-1)	1,397 (-4%)	3mo	$299,900	$215	58
302 W Main St	0.71mi	5/1.0 (+1)	1,426 (-2%)	5mo	$200,000	$140	54
408 4th St N	0.47mi	3/1.5 (-1)	1,588 (+9%)	7mo	$130,000	$82	51
333 Cedar St	0.71mi	3/2.5 (-1)	1,487 (+2%)	4mo	$360,000	$242	50
1310 E Main St	0.66mi	3/2.5 (-1)	1,387 (-5%)	2mo	$350,000	$252	48
15 N 13th St	0.64mi	3/2.0 (-1)	1,346 (-8%)	7mo	$240,000	$178	42
713 E Broad St E E	0.68mi	3/2.0 (-1)	1,311 (-10%)	0mo	$261,000	$199	42
3 Madison Pl	0.66mi	3/2.0 (-1)	1,280 (-12%)	7mo	$168,000	$131	34

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: -7.2%
• Equity multiple: 0.74×
• Total profit: $-13,709
• Equity at exit: $27,569

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $3,428
• Equity at exit: $15,987

Cash invested: $51,772 (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: 296
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,941 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$199 /mo · $2,393/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $287

Break-even live

Break-even rent $1,577

Max offer price $184,900

Occupancy floor 80%

Sensitivity live

Price	-10% $392	-5% $340	+0% $287	+5% $235	+10% $183
Rent	-10% $134	-5% $211	+0% $287	+5% $364	+10% $441
Rate	-1.0pp $380	-0.5pp $334	base $287	+0.5pp $239	+1.0pp $191

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	44d	1	0.51mi
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	44d	1	0.71mi

Listing history 49 events

1. 2026-06-19
   days on market $184,900 Active 66 DOM
2. 2026-06-18
   days on market $184,900 Active 65 DOM
3. 2026-06-17
   days on market $184,900 Active 64 DOM
4. 2026-06-16
   days on market $184,900 Active 63 DOM
5. 2026-06-15
   days on market $184,900 Active 62 DOM
6. 2026-06-14
   days on market $184,900 Active 60 DOM
7. 2026-06-13
   days on market $184,900 Active 59 DOM
8. 2026-06-10
   days on market $184,900 Active 57 DOM
9. 2026-06-09
   days on market $184,900 Active 56 DOM
10. 2026-06-08
    days on market $184,900 Active 55 DOM
11. 2026-06-07
    days on market $184,900 Active 54 DOM
12. 2026-06-02
    days on market $184,900 Active 49 DOM
13. 2026-06-01
    days on market $184,900 Active 48 DOM
14. 2026-05-31
    price $184,900 Active 47 DOM
15. 2026-05-31
    days on market $190,000 Active 47 DOM
16. 2026-05-30
    days on market $190,000 Active 46 DOM
17. 2026-04-14
    listed $190,000 Active 530-char remark

    Show marketing remark (530 chars)

    Move-in-ready two-story home featuring modern upgrades. The main level offers a living room, dining room, kitchen, and a bedroom. Dual staircases lead to the second floor, which includes three additional bedrooms and a full bathroom. A walk-up third-floor attic provides excellent potential for additional living space. Major upgrades within the past two years include new flooring, fresh paint, new light fixtures and updated kitchen and bathroom. The exterior of the home was just painted. Property is being sold strictly as is.

18. 2026-03-18
    status Pending
19. 2026-03-17
    historical
20. 2026-02-24
    status Active
21. 2026-02-10
    status Pending
22. 2026-02-09
    historical Active Under Contract
23. 2026-01-29
    listed $190,000 Active
24. 2025-04-25
    historical $2,200
25. 2025-04-06
    listed $2,200
26. 2023-08-09
    soldstatus $130,000
27. 2023-06-30
    soldstatus $130,000 Closed
28. 2023-05-26
    status Pending
29. 2023-04-26
    price $135,000
30. 2023-03-27
    status Active
31. 2023-02-20
    status Pending
32. 2023-01-14
    price $145,000
33. 2022-12-26
    listed $155,000 Active
34. 2022-12-23
    historical $155,000
35. 2022-11-30
    soldstatus $80,000
36. 2022-11-28
    soldstatus $80,000 Closed
37. 2022-11-14
    status Pending
38. 2022-11-11
    historical Active Under Contract
39. 2022-11-01
    price $85,000
40. 2022-10-31
    status Active
41. 2022-10-28
    historical Active Under Contract
42. 2022-10-11
    price $100,000
43. 2022-09-20
    listed $120,000 Active
44. 2022-09-19
    historical $120,000
45. 2021-03-31
    historical
46. 2020-10-06
    listed $79,900 Active
47. 2010-07-08
    historical
48. 2010-01-08
    listed $55,000
49. 1991-12-31
    soldstatus $25,000

ⓘ 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: $2,393 · $199/mo
• Projected year-2 tax: $3,499 · $292/mo
• Expected delta: +$1,105/yr (+$92/mo · 46.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $23,291
• − Mortgage interest: −$10,357
• − Property taxes: −$2,393
• − Insurance: −$924
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$5,379
• Taxable income: $510
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $3,324/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

+660.0% since first listed

33 events — show timeline

• 2026-04-14 Listed $190,000 BRIGHT MLS
• 2026-03-18 Pending — BRIGHT MLS
• 2026-03-17 Listing Removed — BRIGHT MLS
• 2026-02-24 Relisted — BRIGHT MLS
• 2026-02-10 Pending — BRIGHT MLS
• 2026-02-09 Contingent — BRIGHT MLS
• 2026-01-29 Listed $190,000 BRIGHT MLS
• 2025-04-25 Rental Removed $2,200 BRIGHTMLS
• 2025-04-06 Listed for Rent $2,200 BRIGHTMLS
• 2023-08-09 Sold (Public Records) $130,000 Public Records
• 2023-06-30 Sold (MLS) $130,000 BRIGHT MLS
• 2023-05-26 Pending — BRIGHT MLS
• 2023-04-26 Price Changed $135,000 BRIGHT MLS
• 2023-03-27 Relisted — BRIGHT MLS
• 2023-02-20 Pending — BRIGHT MLS
• 2023-01-14 Price Changed $145,000 BRIGHT MLS
• 2022-12-26 Listed $155,000 BRIGHT MLS
• 2022-12-23 Coming Soon $155,000 BRIGHT MLS
• 2022-11-30 Sold (Public Records) $80,000 Public Records
• 2022-11-28 Sold (MLS) $80,000 BRIGHT MLS
• 2022-11-14 Pending — BRIGHT MLS
• 2022-11-11 Contingent — BRIGHT MLS
• 2022-11-01 Price Changed $85,000 BRIGHT MLS
• 2022-10-31 Relisted — BRIGHT MLS
• 2022-10-28 Contingent — BRIGHT MLS
• 2022-10-11 Price Changed $100,000 BRIGHT MLS
• 2022-09-20 Listed $120,000 BRIGHT MLS
• 2022-09-19 Coming Soon $120,000 BRIGHT MLS
• 2021-03-31 Listing Removed — BRIGHT MLS
• 2020-10-06 Listed $79,900 BRIGHT MLS
• 2010-07-08 Listing Removed — BRIGHT MLS
• 2010-01-08 Listed $55,000 BRIGHT MLS
• 1991-12-31 Sold (Public Records) $25,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,393 · +3.3% YoY. Source: county tax records.