132 Goltra Dr

Liberty Corner, NJ 07920-2449

$599,000B+

4 bd · 2.0 ba · 2,136 sqft · Built 1960 · SingleFamily · Under Contract · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,500/mo
• Mortgage (P&I): −$3,141
• Tax + insurance: −$1,294
• HOA: −$0
• Vac / Maint / Mgmt: −$1,575
• Net cashflow: $1,490/mo
• Annual: $17,882/yr
• Cap rate: 9.28%
• Cash-on-cash: 10.66%
• DSCR: 1.47
• 1% rule: 1.25%
• Cash to close: $167,720

Investor read

• This is a 4-bed/2.0-bath single-family listed at $599k.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $599k).
• It's been on market 28 days — a 2% lower offer ($590k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $590k (1.5% below list) — sets the bar for market timing.
• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Bernards Township School District (suburban): math 61% / reading 73% proficiency, ranked #20 of 472 in NJ (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 1% free/reduced lunch — higher-income household profile.
• Zoned schools: Liberty Corner School (math 52% / reading 61%, grade C+, #162 of 1,303 statewide, top 13%, 447 students, 2% FRL); Ridge High School (math 71% / reading 76%, grade B+, #22 of 399 statewide, top 6%, 1,682 students, 1% FRL) — zoned schools at 2% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 678 units permitted in Somerset County in 2024 (296 in 5+ unit buildings).
• Somerset County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.