982 Falkenberg Rd · Brick, NJ 08724

$295,000

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 119 Days on market

Built 1940 0.46 ac lot $273/sqft · 35% below area Est $456k · 35% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• DSCR +3.2/10.0
• 1% rule +2.9/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity meets potential on this rare half-acre parcel offering exceptional flexibility and upside. Zoned Hospital Support/Residential, this property offers flexibility for redevelopment, renovation, rental potential, or professional use. Set at the end of a quiet road for added privacy, the existing structure includes approx. 1,080 sq ft and a full walk-in basement— providing a strong foundation for transformation. Location matters, and this one delivers with close proximity to hospitals, commercial hubs, and major commuter routes. Sold strictly as-is. Bring your plans, your creativity, and your strategy — opportunities with this level of flexibility and positioning are increasingly hard to find.

Key facts

• Half-acre parcel
• 0.46 acre lot
• Built 1940

Tags

• HALF-ACRE PARCEL
• FULL WALK-IN BASEMENT
• CLOSE PROXIMITY TO HOSPITALS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (21.2% below list).
• Recommended offer: $233k (21.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Brick Township Public School District (suburban): math 18% / reading 43% proficiency, ranked #330 of 472 in NJ (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 284 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 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 $9k 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.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $155k; list at $295k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $232,560 (21.2% 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 119 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.83%
• DSCR: 0.92
• GRM: 10.6

CMA / ARV

• ARV (median comp): $455,800
• List price: $295,000
• Delta: -35.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Nasto Ter	0.24mi	2/1.0	1,076 (-0%)	13mo	$168,600	$157	77
5 B Trl	0.44mi	2/1.0	1,000 (-7%)	7mo	$87,000	$87	61
109 John St	0.31mi	3/1.0 (+1)	1,103 (+2%)	19mo	$410,000	$372	61
120 Bruce St	0.22mi	3/2.0 (+1)	1,150 (+6%)	13mo	$550,000	$478	59
8 Holmes Ct	0.54mi	2/1.0	966 (-11%)	5mo	$399,900	$414	53
17 Division St	0.58mi	2/1.0	996 (-8%)	15mo	$385,000	$387	47
10 Callaghan Rd	0.58mi	3/1.0 (+1)	1,008 (-7%)	13mo	$440,000	$437	46
12 Dickinson Rd	0.72mi	2/1.0	966 (-11%)	5mo	$350,000	$362	45
4 Longfellow Ct	0.66mi	2/1.5	1,134 (+5%)	18mo	$341,000	$301	44
122 Besante Blvd	0.60mi	3/2.0 (+1)	1,194 (+11%)	8mo	$575,000	$482	39
1718 Forge Pond Rd	0.47mi	3/2.0 (+1)	1,228 (+14%)	16mo	$475,000	$387	32
9 Whitman St	0.74mi	2/1.0	966 (-11%)	18mo	$322,500	$334	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

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: $-55,831
• Equity at exit: $43,985

10-year hold

• IRR: -12.0%
• Equity multiple: 0.29×
• Total profit: $-58,985
• Equity at exit: $25,506

Cash invested: $82,600 (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 08724

• Active inventory: 284
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,326 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$293 /mo · $3,518/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $-126

Break-even live

Break-even rent $2,485

Max offer price $272,764

Occupancy floor —

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
378 Kentwood Blvd Brick Township, NJ	1.0–2.0	1.0	972	$2,225	$2.29	6d	2	0.81mi
47 Newport Ct Brick Township, NJ	2.0	1.0	1022	$2,100	$2.05	24d	1	0.98mi
101 Prosper Way Brick Township, NJ	2.0	2.0	1360	$2,650	$1.95	24d	1	1.21mi
101 Prosper Way Brick Township, NJ	2.0	2.0	1180	$2,450	$2.08	22d	1	1.21mi
2775 Hooper Ave Brick, NJ	2.0	1.0	1100	$2,300	$2.09	24d	1	1.23mi
46 Patmore Rd Brick, NJ	2.0	2.0	1280	$2,400	$1.88	18d	1	1.39mi

Listing history 17 events

1. 2026-06-09
   days on market $295,000 Active 119 DOM
2. 2026-06-08
   days on market $295,000 Active 118 DOM
3. 2026-06-07
   days on market $295,000 Active 117 DOM
4. 2026-06-04
   days on market $295,000 Active 114 DOM
5. 2026-06-03
   days on market $295,000 Active 113 DOM
6. 2026-06-02
   days on market $295,000 Active 112 DOM
7. 2026-06-01
   days on market $295,000 Active 111 DOM
8. 2026-05-31
   days on market $295,000 Active 110 DOM
9. 2026-02-10
   listed $295,000 Active 721-char remark

   Show marketing remark (721 chars)

   Opportunity meets potential on this rare half-acre parcel offering exceptional flexibility and upside. Zoned Hospital Support/Residential, this property offers flexibility for redevelopment, renovation, rental potential, or professional use. Set at the end of a quiet road for added privacy, the existing structure includes approx. 1,080 sq ft and a full walk-in basement— providing a strong foundation for transformation. Location matters, and this one delivers with close proximity to hospitals, commercial hubs, and major commuter routes. Sold strictly as-is. Bring your plans, your creativity, and your strategy — opportunities with this level of flexibility and positioning are increasingly hard to find.

10. 2025-07-24
    status Pending
11. 2025-05-02
    listed $299,000 Active
12. 2018-05-01
    historical
13. 2018-03-06
    listed $185,900 Active
14. 2008-10-07
    listed $189,900
15. 2008-03-01
    listed $209,900
16. 2004-04-01
    soldstatus $155,000
17. 1994-04-07
    soldstatus $100,000

ⓘ 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: $3,518 · $293/mo
• Projected year-2 tax: $5,432 · $453/mo
• Expected delta: +$1,914/yr (+$159/mo · 54.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,907
• − Mortgage interest: −$16,525
• − Property taxes: −$3,518
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,233
• − Management: −$2,233
• − Depreciation: −$8,582
• Taxable loss: −$6,657
• Est. tax savings @ 24.0%: +$1,598
• After-tax cash flow: $87/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: Brick Township Public School District
• NCES district ID: 3402220
• Math proficiency: 18% ▼ -24.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $68,717
• Composite: 28.31/100
• National rank: #6785
• State rank: #330 of 472 in NJ

Livability — Brick

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 32,141
• Population (ZIP): 41,573

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 7% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% Chinese 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: ▼ -524.30%
• Current HPI: 380.6136
• 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

+195.0% since first listed

9 events — show timeline

• 2026-02-10 Listed $295,000 MOMLS
• 2025-07-24 Pending — MOMLS
• 2025-05-02 Listed $299,000 MOMLS
• 2018-05-01 Delisted — MOMLS
• 2018-03-06 Listed $185,900 MOMLS
• 2008-10-07 Listed $189,900 MOMLS
• 2008-03-01 Listed $209,900 MOMLS
• 2004-04-01 Sold (Public Records) $155,000 Public Records
• 1994-04-07 Sold (Public Records) $100,000 Public Records

Property tax history

-3.1%/yr

Latest (2025): $3,518 · -26.5% YoY. Source: county tax records.