471 Woodpark Dr · Point Pleasant, NJ 08723

$449,000

4 bd · 2.0 ba · 1,834 sqft · SingleFamily public records · 13 Days on market

Built 1970 4,791 sqft lot Est $596k · 25% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 4-bedroom, 2-bath home boasts over 1800 sf of living space & plenty of parking! Conveniently located near multiple beaches, restaurants, & shopping, this spacious home also offers a secondary, first-floor kitchenette, perfect for multi-generational living. Huge storage shed to keep your bikes & beach chairs! Great primary residence, summer escape, or investment property. Please note this home also has a second address associated with it, 472 Mantoloking Rd. Buyer to consult municipality with any questions.

Key facts

• Huge storage shed
• 4,791 sq ft lot
• Built 1970

Tags

• FIRST FLOOR KITCHENETTE
• HUGE STORAGE SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $449k).
• Cap rate 10.9% vs local median 2.8% in Point Pleasant — 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 76/100 on livability (#136 in NJ, #3,574 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• 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: 210 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• At $6,030/mo this rent would consume 67% of the median local household income ($109k/yr) (locally 404% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 $126k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $115k; list at $449k implies a 290% gain — meaningful room to come down on a strong offer.

Recommended offer $449,000

Questions for the listing agent

1. Built in 1970 — 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. Schools are A-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?
4. 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.
5. 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.
6. 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: 1.34% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.42%
• DSCR: 1.73
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $596,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Reservation Row	0.26mi	4/1.5	1,704 (-7%)	1mo	$430,000	$252	73
9 Bayberry Ave	0.42mi	3/2.5 (-1)	1,748 (-5%)	2mo	$650,000	$372	64
442 Mamie Dr	0.47mi	4/2.5	1,956 (+7%)	9mo	$618,500	$316	58
42 Arbutus Ave	0.67mi	4/2.0	1,715 (-6%)	7mo	$425,000	$248	52
593 Leanora St	0.67mi	3/2.5 (-1)	1,740 (-5%)	2mo	$565,000	$325	52
455 Mamie Dr	0.49mi	3/2.0 (-1)	1,656 (-10%)	7mo	$650,000	$393	50
334 Alden St	0.61mi	4/1.5	1,680 (-8%)	9mo	$400,000	$238	48
636 Donald St	0.51mi	4/1.5	1,560 (-15%)	4mo	$660,000	$423	46
618 Leanora St	0.61mi	3/2.0 (-1)	1,600 (-13%)	8mo	$568,750	$355	38
458 Drum Point Rd	0.75mi	4/1.5	1,602 (-13%)	8mo	$419,000	$262	35
621 Preston St	0.62mi	3/1.5 (-1)	1,584 (-14%)	8mo	$485,000	$306	35
594 Donald St	0.70mi	3/2.5 (-1)	1,573 (-14%)	9mo	$536,000	$341	29

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: 7.5%
• Equity multiple: 1.29×
• Total profit: $36,845
• Equity at exit: $66,947

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $173,365
• Equity at exit: $38,821

Cash invested: $125,720 (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 08723

• Active inventory: 210
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $6,030 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$502 /mo · $6,020/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,266
• Net cashflow: $1,720

Break-even live

Break-even rent $3,852

Max offer price $449,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,974	-5% $1,847	+0% $1,720	+5% $1,593	+10% $1,466
Rent	-10% $1,244	-5% $1,482	+0% $1,720	+5% $1,958	+10% $2,196
Rate	-1.0pp $1,946	-0.5pp $1,834	base $1,720	+0.5pp $1,604	+1.0pp $1,485

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Navarra Dr Brick, NJ	3.0	2.0	1572	$3,700	$2.35	17d	1	1.36mi
58 E Lagoona Dr Brick, NJ	4.0	2.0	1483	$11,000	$7.42	2d	1	1.40mi
632 Drum Point Rd Brick, NJ	4.0	3.0	2300	$5,850	$2.54	2d	1	1.42mi

Listing history 3 events

1. 2026-04-23
   status Pending
2. 2026-04-10
   listed $449,000 Active
3. 1987-05-22
   soldstatus $115,000

ⓘ 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: $6,020 · $502/mo
• Projected year-2 tax: $8,600 · $717/mo
• Expected delta: +$2,580/yr (+$215/mo · 42.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $72,354
• − Mortgage interest: −$25,151
• − Property taxes: −$6,020
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,788
• − Management: −$5,788
• − Depreciation: −$13,062
• Taxable income: $14,300
• Est. tax owed @ 24.0%: −$3,432
• After-tax cash flow: $17,208/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 — Point Pleasant

• Score: 76/100
• State rank: #136
• US rank: #3574

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

• County: Ocean County · 439,426 people
• City population: 25,732
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 32,141
• Household income: $108,643
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 404.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 6% Slovak 1% Portuguese 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 10% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -454.38%
• Current HPI: 350.5719
• 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

+290.4% since first listed

3 events — show timeline

• 2026-04-23 Pending — MOMLS
• 2026-04-10 Listed $449,000 MOMLS
• 1987-05-22 Sold (Public Records) $115,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $6,020 · +5.1% YoY. Source: county tax records.