15 Spring St · Pine Hill, NJ 08021

$230,000

4 bd · 1.5 ba · 1,727 sqft · SingleFamily public records · 6 Days on market

Built 1945 0.59 ac lot Est $387k · 41% under

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Why this score? — see what drove the C 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 +18.9/30.0
• ARV discount +15.0/15.0
• 1% rule +7.2/10.0
• DSCR +6.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity! Spacious single story ranch on a large (0.5+acre) corner lot. Home features a detached 2 car garage. The home has hardwood flooring throughout, three spacious bedrooms, basement., large eat in kitchen, dining room. Vandalized; plumbing removed. Property to be sold as is; buyer to be responsible for any and all inspections/certifications, including Certificate of occupancy.

Key facts

• 0.59 acre lot
• 2 garage spots
• Built 1945

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 7.5% vs local median 3.5% in Pine Hill — 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 65/100 on livability (#385 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B, cost of living B; Watch: amenities F, commute F, health & safety D-.
• Pine Hill School District (suburban): math 10% / reading 39% proficiency, ranked #395 of 472 in NJ (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dr. Albert M. Bean School (math 2% / reading 27%, grade F, #1,124 of 1,303 statewide, top 88%, 366 students, 67% FRL); Pine Hill Middle School (math 10% / reading 44%, grade F, #344 of 431 statewide, top 80%, 381 students, 60% FRL); Overbrook Senior High School (math 14% / reading 42%, grade F, #304 of 399 statewide, top 77%, 792 students, 54% FRL) — zoned schools average 60% FRL vs 43% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 242 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $2,803/mo this rent would consume 49% of the median local household income ($68k/yr) (locally 3050% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 16y 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 $143k; list at $230k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $230,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $386,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1604 Erial Rd	0.12mi	4/3.0	1,632 (-6%)	3mo	$365,000	$224	77
104 E Clearview Ave	0.34mi	4/2.5	1,700 (-2%)	4mo	$480,000	$282	74
300 Turnerville Rd	0.11mi	4/2.5	1,576 (-9%)	4mo	$345,000	$219	73
16 E Woodburn Ave	0.17mi	3/1.0 (-1)	1,900 (+10%)	1mo	$345,000	$182	68
1110 Erial Rd	0.23mi	4/1.0	1,500 (-13%)	2mo	$302,000	$201	64
17 Sturbridge Dr	0.34mi	3/2.5 (-1)	1,818 (+5%)	5mo	$410,000	$226	62
28 Mary Ellen Ln	0.69mi	3/2.0 (-1)	1,737 (+1%)	5mo	$400,000	$230	55
59 Mary Ellen Ln	0.58mi	3/1.0 (-1)	1,737 (+1%)	12mo	$385,000	$222	55
1306 Little Mill Rd	0.69mi	3/2.0 (-1)	1,742 (+1%)	10mo	$411,000	$236	51
45 Country Club Rd	0.72mi	4/2.5	1,780 (+3%)	12mo	$395,000	$222	47
39 Country Club Rd	0.73mi	3/2.5 (-1)	1,600 (-7%)	1mo	$427,000	$267	44
112 E 7th Ave	0.65mi	3/1.0 (-1)	1,530 (-11%)	9mo	$327,000	$214	36

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 · 3.02% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-21,932
• Equity at exit: $34,294

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,592
• Equity at exit: $19,886

Cash invested: $64,400 (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 08021

• Home prices YoY: -31.6%
• Rents YoY: 3.0%
• Active inventory: 242
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,803 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$677 /mo · $8,124/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $236

Break-even live

Break-even rent $2,505

Max offer price $230,000

Occupancy floor 87%

Sensitivity live

Price	-10% $366	-5% $301	+0% $236	+5% $170	+10% $105
Rent	-10% $14	-5% $125	+0% $236	+5% $346	+10% $457
Rate	-1.0pp $351	-0.5pp $294	base $236	+0.5pp $176	+1.0pp $115

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Golf View Ct Unit Labs Pine Hill, NJ	3.0	2.5	1956	$3,000	$1.53	16d	1	0.43mi
56 Iron Gate Rd Sicklerville, NJ	3.0	2.5	1561	$2,795	$1.79	0d	1	1.09mi
16 Lincoln Ave Sicklerville, NJ	3.0	2.5	1540	$2,300	$1.49	3d	1	1.15mi
8 Iron Gate Rd Sicklerville, NJ	3.0	2.5	1681	$3,100	$1.84	11d	1	1.16mi
302 Hidden Dr Blackwood, NJ	3.0	3.5	2105	$2,750	$1.31	0d	1	1.42mi
12 Grant Ln Berlin, NJ	3.0	1.5	1360	$2,400	$1.76	0d	1	1.45mi

Listing history 19 events

1. 2026-04-01
   status Pending
2. 2026-03-26
   historical Active Under Contract
3. 2026-03-21
   listed $230,000 Active
4. 2026-03-09
   historical $230,000
5. 2020-08-10
   soldstatus $143,000
6. 2020-06-11
   soldstatus $143,000 Closed
7. 2020-04-30
   listed $149,800
8. 2020-04-30
   historical
9. 2017-11-03
   soldstatus $50,000 Sold 394-char remark

   Show marketing remark (394 chars)

   Great Opportunity! Spacious single story ranch on a large (0.5+acre) corner lot. Home features a detached 2 car garage. The home has hardwood flooring throughout, three spacious bedrooms, basement., large eat in kitchen, dining room. Vandalized; plumbing removed. Property to be sold as is; buyer to be responsible for any and all inspections/certifications, including Certificate of occupancy.

10. 2017-11-03
    soldstatus $50,000

    Show marketing remark (394 chars)

    Great Opportunity! Spacious single story ranch on a large (0.5+acre) corner lot. Home features a detached 2 car garage. The home has hardwood flooring throughout, three spacious bedrooms, basement., large eat in kitchen, dining room. Vandalized; plumbing removed. Property to be sold as is; buyer to be responsible for any and all inspections/certifications, including Certificate of occupancy.

11. 2017-10-05
    status Under Contract 394-char remark

    Show marketing remark (394 chars)

    Great Opportunity! Spacious single story ranch on a large (0.5+acre) corner lot. Home features a detached 2 car garage. The home has hardwood flooring throughout, three spacious bedrooms, basement., large eat in kitchen, dining room. Vandalized; plumbing removed. Property to be sold as is; buyer to be responsible for any and all inspections/certifications, including Certificate of occupancy.

12. 2017-09-14
    listed $50,900 Active 394-char remark

    Show marketing remark (394 chars)

    Great Opportunity! Spacious single story ranch on a large (0.5+acre) corner lot. Home features a detached 2 car garage. The home has hardwood flooring throughout, three spacious bedrooms, basement., large eat in kitchen, dining room. Vandalized; plumbing removed. Property to be sold as is; buyer to be responsible for any and all inspections/certifications, including Certificate of occupancy.

13. 2017-09-11
    listed $50,900
14. 2011-06-15
    soldstatus $140,000
15. 2011-06-03
    soldstatus $140,000
16. 2011-06-03
    soldstatus $140,000
17. 2011-05-18
    historical
18. 2010-10-25
    listed $164,900
19. 2010-10-25
    listed $164,900

ⓘ 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: $8,124 · $677/mo
• Projected year-2 tax: $8,124 · $677/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,638
• − Mortgage interest: −$12,884
• − Property taxes: −$8,124
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,691
• − Management: −$2,691
• − Depreciation: −$6,691
• Taxable loss: −$593
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $2,968/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: Pine Hill School District
• NCES district ID: 3412990
• Math proficiency: 10% ▼ -17.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $51,919
• Composite: 21.71/100
• National rank: #8269
• State rank: #395 of 472 in NJ

Livability — Pine Hill

• Score: 65/100
• State rank: #385
• US rank: #13124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Hill, NJ
• County: Camden County · 407,624 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 49,305
• Household income: $68,044
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 3050.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 44% Black 27% Hispanic / Latino 20% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 81% English-only · Spanish 14% Chinese 1% Tagalog/Filipino 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.73%
• Current HPI: 338.8351
• Rent YoY: ▲ 3.02%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+39.5% since first listed

19 events — show timeline

• 2026-04-01 Pending — BRIGHT MLS
• 2026-03-26 Contingent — BRIGHT MLS
• 2026-03-21 Listed $230,000 BRIGHT MLS
• 2026-03-09 Coming Soon $230,000 BRIGHT MLS
• 2020-08-10 Sold (Public Records) $143,000 Public Records
• 2020-06-11 Sold (MLS) $143,000 BRIGHT MLS
• 2020-04-30 Listing Removed — BRIGHT MLS
• 2020-04-30 Listed $149,800 BRIGHT MLS
• 2017-11-03 Sold (MLS) $50,000 BRIGHT MLS
• 2017-11-03 Sold (MLS) $50,000 TREND
• 2017-10-05 Pending — TREND
• 2017-09-14 Listed $50,900 TREND
• 2017-09-11 Listed $50,900 BRIGHT MLS
• 2011-06-15 Sold (Public Records) $140,000 Public Records
• 2011-06-03 Sold (MLS) $140,000 TREND
• 2011-06-03 Sold (MLS) $140,000 BRIGHT MLS
• 2011-05-18 Listing Removed — BRIGHT MLS
• 2010-10-25 Listed $164,900 TREND
• 2010-10-25 Listed $164,900 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2025): $8,124 · +3.8% YoY. Source: county tax records.