1024 Main St · Springdale, NJ 08043

$200,000

2 bd · 2.0 ba · 1,310 sqft · Condo public records · 1 Days on market

Built 1988 $506/mo HOA · 21% of rent

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Why this score? — see what drove the D 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 +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this lovely, spacious, two bedroom, two full bathroom condominium with an open floor plan and lots of light in The Promenade at Main Street in Voorhees. Enter through a large foyer area with a double coat closet to the open dining room to the left with built-in buffet server with storage cabinets and newer laminate flooring (2018) and to the huge living room to the right. The living room, or great room because of its dimensions and plenty of space for generously sized furnishings, has a wood burning fireplace adding warmth and charm to chilly winter nights, recessed lighting, newer laminate flooring (2018) as well, and expansive sliding glass doors leading to an oversized balcony, great for enjoying nice summer evenings or mornings with your cup of joe, with a terrific view overlooking the Promenade. A full, eat-in kitchen, with a built-in table for one, is next to the dining room with a convenient "pass thru" between the two rooms. Double doors lead to the master bedroom suite, also with newer laminate flooring (2018), which has a dressing area with an abundance of closets with built-ins and a large master bathroom with double vanity sinks, double sized stall shower with sliding doors, a garden tub, newer toilet (2018), and newer ceramic tile flooring (2018). The second bedroom, with newer laminate flooring (2018), has its own spacious full bathroom with a linen closet. Also included is a stacked washer and dryer located in its own closet next to the kitchen. Additionally, there is a newer gas furnace and central air conditioning system (2017), newer laminate flooring (2018) throughout the condo including the foyer and the closets, as well as newer ceramic tile flooring (2018) in the master bathroom, and a newer, built-in microwave oven (2018) in the kitchen. The rooms are freshly painted (2018) in a neutral color keeping the condo light and bright. There is a separate exterior storage closet for the condo unit as well as elevator service, a secured interior entrance to the main lobby, and plenty of garage and roof top parking for you and your guests. It is conveniently located to the Hi Speed Line, great shopping, wonderful area restaurants, and major highways to Philadelphia, NYC, and the Jersey shore. Easy one floor living--you don't want to miss seeing this one!

Key facts

• Oversized balcony
• $506 HOA
• Built 1988

Tags

• WOOD BURNING FIREPLACE
• OVERSIZED BALCONY
• SECURE INTERIOR ACCESS
• PLENTIFUL GUEST PARKING
• CONVENIENT ROOFTOP PARKING

Property features AI

Finance

• Other: Property manager present; Not in a federal flood zone
• HOA & community: Monthly condo fee of $506; Professional off-site management; HOA covers ground fee, common area maintenance, exterior building maintenance, lawn care, snow removal, and trash; HOA amenities include cable, elevator, extra storage and storage bin, and building security; Additional monthly fee of $63

Exterior

• Parking: Paved parking lot; Lighted parking; Private and unassigned spaces
• Security: Building security; Secure storage available
• Utilities: Public water; Public sewer; Electric service 120/240V with circuit breakers; 60+ gallon electric hot water tank
• Home design: Condominium unit in a garden-style building (1–4 floors); Unit/flat structure; Entry on level 2; Suburban location; Pitched shingle roof; Vinyl-clad windows; Building named PROMENADE; Very good condition
• Construction: Frame construction; No basement
• Exterior features: Balcony; Sidewalks; Street lighting; Exterior lighting; Secure storage; Underground lawn sprinkler

Interior

• Kitchen: Built-in microwave; Dishwasher; Single oven; Electric range; Self-cleaning oven; Refrigerator
• Bedrooms: Two main-level bedrooms
• Flooring: Ceramic tile; Laminate flooring
• Bathrooms: Two full bathrooms (including master bath with soaking tub and stall shower)
• Heating & cooling: Central heating (forced air) with programmable thermostat; Natural gas heat; Central air conditioning
• Interior features: Built-ins; Open floor plan; Eat-in kitchen; Master bath with soaking tub and stall shower; Recessed lighting; Tub/shower combination; Dry wall ceilings/walls
• Laundry & utility: Stacked washer/dryer; Washer and dryer in unit (main floor)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (12.0% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.9% in Springdale — 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 81/100 on livability (#64 in NJ, #1,566 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, cost of living F.
• Voorhees Township School District (suburban): math 38% / reading 61% proficiency, ranked #134 of 472 in NJ (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.0%/yr); 140 active listings in the ZIP; 17 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; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y ago; this cycle's ask is 78% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $115k; list at $200k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; HOA is 21% of rent.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,949 (12.0% below list)

Questions for the listing agent

1. 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?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 5.48%
• Cash-on-cash: -2.92%
• DSCR: 0.87
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -22.6%
• Equity multiple: 0.23×
• Total profit: $-43,108
• Equity at exit: $29,821

10-year hold

• IRR: -20.6%
• Equity multiple: -0.01×
• Total profit: $-56,836
• Equity at exit: $17,292

Cash invested: $56,000 (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 08043

• Rents YoY: 2.0%
• Active inventory: 140
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,449 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$433 /mo · $5,192/yr
• Insurance: −$83
• HOA: −$506
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-136

Break-even live

Break-even rent $2,621

Max offer price $175,949

Occupancy floor —

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 Main St Voorhees, NJ	2.0	2.0	1310	$2,500	$1.91	17d	1	0.02mi
1022 Main St Voorhees, NJ	2.0	2.0	1310	$2,300	$1.76	3d	1	0.02mi
1502 The Woods Cherry Hill, NJ	2.0	2.0	924	$2,200	$2.38	19d	1	0.22mi
704 The Woods Cherry Hill, NJ	2.0	2.0	1012	$2,400	$2.37	44d	1	0.26mi
306 The Woods Cherry Hill, NJ	2.0	2.0	996	$2,700	$2.71	1d	1	0.32mi
1929 The Woods II Cherry Hill, NJ	2.0	2.0	1148	$2,350	$2.05	44d	1	0.44mi
1925 The Woods II Unit 1925 Cherry Hill Township, NJ	2.0	2.0	1032	$2,400	$2.33	19d	1	0.45mi
1962 The Woods II Cherry Hill, NJ	2.0	2.0	1148	$2,500	$2.18	1d	1	0.48mi
828 Chanticleer Cherry Hill, NJ	3.0	2.0	1379	$3,450	$2.50	44d	1	0.55mi
835 Chanticleer Cherry Hill, NJ	2.0	2.0	1347	$2,600	$1.93	1d	1	0.61mi
1126 Chanticleer Cherry Hill, NJ	2.0	2.0	1551	$2,900	$1.87	44d	1	0.65mi
1314 Chanticleer Cherry Hill, NJ	3.0	2.5	1820	$3,840	$2.11	44d	1	0.71mi
5 Christopher Rd Voorhees, NJ	3.0	2.5	1747	$2,900	$1.66	1d	1	0.89mi
3 Bridle Ct Cherry Hill, NJ	3.0	2.5	1789	$3,950	$2.21	18d	1	1.09mi
3 Executive Dr Marlton, NJ	1.0–2.0	1.0–2.0	999	$3,365	$3.37	1d	21	1.19mi
1 Meridian Ct Evesham, NJ	2.0	1.0	884	$1,947	$2.20	1d	1	1.43mi
1 Meridian Ct Evesham, NJ	2.0	1.0	884	$1,947	$2.20	15d	1	1.43mi

HOA detail condo

• Monthly dues: $506 · $6,072/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $200,000 Coming Soon 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: $5,192 · $433/mo
• Projected year-2 tax: $5,192 · $433/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,387
• − Mortgage interest: −$11,203
• − Property taxes: −$5,192
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,351
• − Management: −$2,351
• − HOA: −$6,072
• − Depreciation: −$5,818
• Taxable loss: −$4,600
• Est. tax savings @ 24.0%: +$1,104
• After-tax cash flow: $-530/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: Voorhees Township School District
• NCES district ID: 3416830
• Math proficiency: 38% ▼ -22.00%
• Reading proficiency: 61% ▼ -13.00%
• Median HH income: $81,601
• Composite: 45.3/100
• National rank: #2651
• State rank: #134 of 472 in NJ

Livability — Springdale

• Score: 81/100
• State rank: #64
• US rank: #1566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Camden County · 407,624 people
• City population: 31,929
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 31,191
• Household income: $105,473
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1415.0

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 0.58)
• Race & ethnicity: White 61% Asian 20% Black 8% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 1%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 75% English-only · Other Indo-European 10% Spanish 4% Other Asian/Pacific 3%

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: ▼ -198.34%
• Current HPI: 300.3058
• Rent YoY: ▲ 1.98%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+75.4% since first listed

9 events — show timeline

• 2026-06-17 Coming Soon $200,000 BRIGHT MLS
• 2020-08-24 Sold (Public Records) $115,000 Public Records
• 2020-07-30 Sold (MLS) $115,000 BRIGHT MLS
• 2020-07-14 Pending — BRIGHT MLS
• 2020-06-23 Price Changed $114,500 BRIGHT MLS
• 2020-06-23 Relisted — BRIGHT MLS
• 2020-03-28 Listing Removed — BRIGHT MLS
• 2020-03-17 Listed $112,500 BRIGHT MLS
• 1988-05-31 Sold (Public Records) $114,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $5,192 · +8.4% YoY. Source: county tax records.