50 Morgans Mill Rd

Sicklerville, NJ 08081

$399,990D-

3 bd · 2.0 ba · 2,055 sqft · Built 2026 · Townhouse · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,108/mo
• Mortgage (P&I): −$2,098
• Tax + insurance: −$667
• HOA: −$0
• Vac / Maint / Mgmt: −$653
• Net cashflow: $-309/mo
• Annual: $-3,708/yr
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• 1% rule: 0.78%
• Cash to close: $111,997

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $400k. Condition is rated excellent.
• At list price, monthly cash flow is $-309 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $355k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (22.3% below list).
• It's been on market 95 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $311k (22.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Gloucester Township Public Schools (suburban): math 14% / reading 41% proficiency, ranked #351 of 472 in NJ (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Timber Creek Regional High School (math 13% / reading 48%, grade F, #279 of 399 statewide, top 71%, 1,166 students, 24% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 552 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wind risk, 65% 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.
• This rent runs 35% of the median local income ($106k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 95 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.
• 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.
• 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.