360 N Main St · Barnegat, NJ 08005

$199,900

4 bd · 1.0 ba · 2,754 sqft · Other · 18 Days on market

Built 1890 7,392 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunities abound with this blank canvas 1890 Victorian. Prime location in downtown, historic Barnegat. With over approximately 2000 square feet of ready-to-finish space, bring your imagination and design to suit. Some work has already been completed: windows, roof, and tankless combination boiler/hot water heater done in 2020. Large lot with ample parking and a detached garage round out this unique property's offerings. Please use caution walking in and and around property. Hold harmless agreement must be signed prior to viewing. Sold as-is. Inspections for informational purposes only.

Key facts

• Ample parking
• Large lot
• Historic barnegat

Tags

• PRIME LOCATION
• HISTORIC BARNEGAT
• TANKLESS COMBINATION BOILER
• LARGE LOT
• AMPLE PARKING
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 3.6% in Barnegat — 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 68/100 on livability (#310 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: schools C-, amenities F, commute F.
• Barnegat Township School District (suburban): math 23% / reading 46% proficiency, ranked #285 of 472 in NJ (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 254 active listings in the ZIP; solid renter incomes; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 44% of the median local income ($94k/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.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.70% ✓
• Cap rate: 14.14%
• Cash-on-cash: 28.04%
• DSCR: 2.25
• GRM: 4.9

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: 22.2%
• Equity multiple: 1.91×
• Total profit: $50,948
• Equity at exit: $29,806

10-year hold

• IRR: 30.3%
• Equity multiple: 3.71×
• Total profit: $151,822
• Equity at exit: $17,284

Cash invested: $55,972 (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 08005

• Active inventory: 254
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,404 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $1,308

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 57%

Sensitivity live

Price	-10% $1,446	-5% $1,377	+0% $1,308	+5% $1,239	+10% $1,170
Rent	-10% $1,039	-5% $1,173	+0% $1,308	+5% $1,442	+10% $1,577
Rate	-1.0pp $1,408	-0.5pp $1,359	base $1,308	+0.5pp $1,256	+1.0pp $1,203

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-02-05
   status Pending
2. 2026-01-27
   historical Active Under Contract
3. 2026-01-09
   listed $199,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $40,848
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,268
• − Management: −$3,268
• − Depreciation: −$5,815
• Taxable income: $13,302
• Est. tax owed @ 24.0%: −$3,192
• After-tax cash flow: $12,500/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: Barnegat Township School District
• NCES district ID: 3416470
• Math proficiency: 23% ▼ -14.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $63,645
• Composite: 31.15/100
• National rank: #6059
• State rank: #285 of 472 in NJ

Livability — Barnegat

• Score: 68/100
• State rank: #310
• US rank: #9556

Category grades

Amenities F Commute F Cost of living F 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: Barnegat, NJ
• County: Ocean County · 439,426 people
• City population: 26,866
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,866
• Household income: $93,584
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 384.0

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 9% Scotch-Irish 2% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.01%
• Current HPI: 344.3189
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

3 events — show timeline

• 2026-02-05 Pending — BRIGHT MLS
• 2026-01-27 Contingent — BRIGHT MLS
• 2026-01-09 Listed $199,900 BRIGHT MLS