152 Club Pl #152 · Smithville, NJ 08205

$119,000

2 bd · 2.0 ba · 1,336 sqft · Condo · 275 Days on market

Built 1984 $235/mo HOA · 11% of rent ↓ 46% since listing

---

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 +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Must take tenant with this property for at least one year at $1,300/mo. rent – This has become a Beat the Bank Sale and will be handled by a Short Sale Attorney. Listing Price is not guaranteed and is based on bank short sale approval. Would need a full rehab once tenant moves out. One of the Villa models that was completely rehabbed last summer SOLD for $267,000. Actively looking for senior assisted HUD living that is income based. This 2 bedroom 2 full bath ranch style, sought out "Villa" model offers an excellent opportunity for investors or buyers looking to build equity. The home features single floor living, a spacious living area, eat in kitchen, primary bedroom with

Key facts

• Bonus room
• Backyard
• Single-floor living

Tags

• SINGLE-FLOOR LIVING
• RANCH-STYLE LAYOUT
• BONUS ROOM
• SLIDING DOORS
• BACKYARD
• PRIMARY BEDROOM

Property features AI

Finance

• Other: Condo unit on entry level (single-level unit)
• HOA & community: Monthly association fee of $235; Association-managed community; HOA includes management, maintenance, pool, and trash; Adult community (55+)

Exterior

• Parking: One assigned exterior parking space; No garage
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Single-story unit; Condo: Club 1 / The Club at Galloway; For sale
• Construction: Vinyl exterior
• Exterior features: Vinyl siding; Pets allowed with restrictions; Not waterfront

Interior

• Kitchen: Dishwasher; Gas stove; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Dryer; Dishwasher; Gas stove; Refrigerator; Washer; 7 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 3.9% in Smithville — 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 64/100 on livability (#402 in NJ) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: cost of living C-, amenities F, commute F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 240 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.76% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.37%
• DSCR: 1.95
• GRM: 4.7

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: 14.0%
• Equity multiple: 1.56×
• Total profit: $18,690
• Equity at exit: $17,743

10-year hold

• IRR: 22.9%
• Equity multiple: 2.97×
• Total profit: $65,659
• Equity at exit: $10,289

Cash invested: $33,320 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 240
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,090 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$235
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $593

Break-even live

Break-even rent $1,338

Max offer price $119,000

Occupancy floor 67%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 Walden Way Galloway, NJ	1.0–3.0	1.0–2.5	1037	$2,319	$2.24	1d	1	0.65mi
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	21d	1	1.14mi

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-10
   days on market $119,000 Under Contract 275 DOM
2. 2026-06-09
   days on market $119,000 Under Contract 274 DOM
3. 2026-06-08
   days on market $119,000 Under Contract 273 DOM
4. 2026-06-07
   days on market $119,000 Under Contract 272 DOM
5. 2026-06-03
   days on market $119,000 Under Contract 268 DOM
6. 2026-06-02
   days on market $119,000 Under Contract 267 DOM
7. 2026-06-01
   days on market $119,000 Under Contract 266 DOM
8. 2026-05-31
   days on market $119,000 Under Contract 265 DOM
9. 2026-05-30
   days on market $119,000 Under Contract 264 DOM
10. 2026-04-07
    historical Under Contract
11. 2026-04-03
    price $119,000
12. 2026-01-19
    price $195,000
13. 2025-10-06
    price $214,000
14. 2025-09-08
    listed $219,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $25,076
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − HOA: −$2,820
• − Depreciation: −$3,462
• Taxable income: $5,736
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $5,745/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: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Smithville

• Score: 64/100
• State rank: #402
• US rank: #13992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 28,877
• Household income: $93,370
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 732.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 62% Hispanic / Latino 14% Two or more races 12% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 7% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 7% Russian/Polish/Slavic 3%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.12%
• Current HPI: 315.4814
• Rent YoY: —
• Metro: Atlantic City-Hammonton, NJ
• 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

-45.7% since first listed

5 events — show timeline

• 2026-04-07 Contingent — SJSRMLS
• 2026-04-03 Price Changed $119,000 SJSRMLS
• 2026-01-19 Price Changed $195,000 SJSRMLS
• 2025-10-06 Price Changed $214,000 SJSRMLS
• 2025-09-08 Listed $219,000 SJSRMLS