1614 Spruce Hills Dr · Glen Gardner, NJ 08826

$250,000

2 bd · 1.5 ba · 1,031 sqft · Condo public records · 80 Days on market

Built 1988 $315/mo HOA · 12% 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 +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spruce Hills premieres this lovely 2 Bed 1.5 Bath second floor unit with Master Suite, ready and waiting for you! Well maintained in a sought after community with plenty of amenities to indulge, just pack your bags and move right in. Step in to find a spacious, light and bright living room and dining room with laminate floors that shine and tons of natural light all through. The living room is adorned with a soaring skylight, cozy wood burning fireplace, and tinted slider to your own private deck, perfect for enjoying your morning coffee. Down the hall, find the convenient 1/2 bath, along with 2 generous bedrooms with plush carpets and ample closets, inc the Master Suite. MBR boasts its own walk-in closet, balcony and access to the main full bath. In-unit laundry adds to the convenience of this charming home. Central air/forced heat, ample on-site parking, and amenities to enjoy such as the outdoor pool, dog run, and multi-use sports courts. All in a convenient commuter location near shopping, dining, major roads and more. This is the perfect starter home. Don't miss out! Come and see TODAY!!

Key facts

• Parking
• Pool
• Built 1988

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (7.8% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $230k (7.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#132 in NJ, #3,503 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• North Hunterdon-Voorhees Regional High School District (suburban): math 37% / reading 63% proficiency, ranked #103 of 472 in NJ (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clinton Public School (math 35% / reading 56%, grade D-, #353 of 1,303 statewide, top 27%, 450 students, 12% FRL); North Hunterdon High School (math 38% / reading 67%, grade C-, #90 of 399 statewide, top 22%, 1,237 students, 2% FRL).
• Market conditions: 8 active listings in the ZIP; 389 units permitted in Hunterdon County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Hunterdon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $190k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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.

Recommended offer $230,381 (7.8% 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. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.03% ✓
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.3%
• Equity multiple: 0.32×
• Total profit: $-47,288
• Equity at exit: $37,276

10-year hold

• IRR: -11.7%
• Equity multiple: 0.30×
• Total profit: $-49,085
• Equity at exit: $21,615

Cash invested: $70,000 (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 08826

• Home prices YoY: -17.2%
• Active inventory: 8
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,575 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$415 /mo · $4,984/yr
• Insurance: −$104
• HOA: −$315
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $-111

Break-even live

Break-even rent $2,716

Max offer price $230,381

Occupancy floor 99%

Sensitivity live

Price	-10% $30	-5% $-40	+0% $-111	+5% $-182	+10% $-253
Rent	-10% $-315	-5% $-213	+0% $-111	+5% $-9	+10% $92
Rate	-1.0pp $15	-0.5pp $-47	base $-111	+0.5pp $-176	+1.0pp $-242

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $250,000 Active 80 DOM
2. 2026-06-18
   days on market $250,000 Active 77 DOM
3. 2026-06-17
   days on market $250,000 Active 76 DOM
4. 2026-06-16
   days on market $250,000 Active 75 DOM
5. 2026-06-15
   days on market $250,000 Active 74 DOM
6. 2026-06-13
   days on market $250,000 Active 72 DOM
7. 2026-06-13
   days on market $250,000 Active 71 DOM
8. 2026-06-09
   days on market $250,000 Active 68 DOM
9. 2026-06-08
   days on market $250,000 Active 67 DOM
10. 2026-06-07
    days on market $250,000 Active 66 DOM
11. 2026-06-04
    days on market $250,000 Active 63 DOM
12. 2026-06-03
    days on market $250,000 Active 62 DOM
13. 2026-06-02
    days on market $250,000 Active 61 DOM
14. 2026-06-01
    days on market $250,000 Active 60 DOM
15. 2026-05-31
    days on market $250,000 Active 59 DOM
16. 2026-04-02
    listed $250,000 Active 1110-char remark

    Show marketing remark (1110 chars)

    Spruce Hills premieres this lovely 2 Bed 1.5 Bath second floor unit with Master Suite, ready and waiting for you! Well maintained in a sought after community with plenty of amenities to indulge, just pack your bags and move right in. Step in to find a spacious, light and bright living room and dining room with laminate floors that shine and tons of natural light all through. The living room is adorned with a soaring skylight, cozy wood burning fireplace, and tinted slider to your own private deck, perfect for enjoying your morning coffee. Down the hall, find the convenient 1/2 bath, along with 2 generous bedrooms with plush carpets and ample closets, inc the Master Suite. MBR boasts its own walk-in closet, balcony and access to the main full bath. In-unit laundry adds to the convenience of this charming home. Central air/forced heat, ample on-site parking, and amenities to enjoy such as the outdoor pool, dog run, and multi-use sports courts. All in a convenient commuter location near shopping, dining, major roads and more. This is the perfect starter home. Don't miss out! Come and see TODAY!!

17. 2026-04-02
    listed $250,000 Active 1110-char remark

    Show marketing remark (1110 chars)

    Spruce Hills premieres this lovely 2 Bed 1.5 Bath second floor unit with Master Suite, ready and waiting for you! Well maintained in a sought after community with plenty of amenities to indulge, just pack your bags and move right in. Step in to find a spacious, light and bright living room and dining room with laminate floors that shine and tons of natural light all through. The living room is adorned with a soaring skylight, cozy wood burning fireplace, and tinted slider to your own private deck, perfect for enjoying your morning coffee. Down the hall, find the convenient 1/2 bath, along with 2 generous bedrooms with plush carpets and ample closets, inc the Master Suite. MBR boasts its own walk-in closet, balcony and access to the main full bath. In-unit laundry adds to the convenience of this charming home. Central air/forced heat, ample on-site parking, and amenities to enjoy such as the outdoor pool, dog run, and multi-use sports courts. All in a convenient commuter location near shopping, dining, major roads and more. This is the perfect starter home. Don't miss out! Come and see TODAY!!

18. 2021-08-10
    soldstatus $190,000
19. 2021-08-06
    price $175,000
20. 2021-08-06
    soldstatus $190,000 Closed
21. 2021-07-15
    historical
22. 2021-07-09
    price $195,000
23. 2021-06-30
    listed $175,000 Active
24. 2006-05-23
    soldstatus $210,000
25. 2004-12-27
    soldstatus $180,000
26. 2002-07-10
    soldstatus $125,000
27. 1987-11-23
    soldstatus $123,500

ⓘ 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: $4,984 · $415/mo
• Projected year-2 tax: $5,605 · $467/mo
• Expected delta: +$620/yr (+$52/mo · 12.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,903
• − Mortgage interest: −$14,004
• − Property taxes: −$4,984
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,472
• − Management: −$2,472
• − HOA: −$3,780
• − Depreciation: −$7,273
• Taxable loss: −$5,332
• Est. tax savings @ 24.0%: +$1,280
• After-tax cash flow: $-53/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: North Hunterdon-Voorhees Regional High School District
• NCES district ID: 3411610
• Math proficiency: 37% ▼ -17.00%
• Reading proficiency: 63% ▼ -8.00%
• Median HH income: $112,200
• Composite: 48.63/100
• National rank: #2108
• State rank: #103 of 472 in NJ

Livability — Glen Gardner

• Score: 76/100
• State rank: #132
• US rank: #3503

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Gardner, NJ
• Population (ZIP): 5,255

Population outlook (Hunterdon County) Hauer SSP2

• Today (2025): 122,644 people
• By 2030: 121,131 · -1.2%
• By 2040: 117,753 · -4.0%
• By 2050: 112,601 · -8.2%
• By 2075: 104,371 · -14.9%
• By 2100: 93,364 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 8% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 9% Slovak 4% Subsaharan African 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 8% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Hunterdon

• 2024 margin: Lean R (+6.7) · D 45.7% · R 52.4% · Other 1.9%
• 2008→2024 swing: +6.7pp toward D · 2008: -13.3pp · 2024: -6.7pp
• All cycles: 2024: R+6.7 2020: R+4.4 2016: R+13.8 2012: R+18.8 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.72%
• Current HPI: 239.1613
• Rent YoY: —
• Metro: —
• 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

+102.4% since first listed

12 events — show timeline

• 2026-04-02 Listed $250,000 CJMLS
• 2026-04-02 Listed $250,000 GSMLS
• 2021-08-10 Sold (Public Records) $190,000 Public Records
• 2021-08-06 Price Changed $175,000 CJMLS
• 2021-08-06 Sold (MLS) $190,000 CJMLS
• 2021-07-15 Delisted — CJMLS
• 2021-07-09 Price Changed $195,000 CJMLS
• 2021-06-30 Listed $175,000 CJMLS
• 2006-05-23 Sold (Public Records) $210,000 Public Records
• 2004-12-27 Sold (Public Records) $180,000 Public Records
• 2002-07-10 Sold (Public Records) $125,000 Public Records
• 1987-11-23 Sold (Public Records) $123,500 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,984 · -5.3% YoY. Source: county tax records.