2524 Wendover Dr · Pompton Plains, NJ 07444

$200,972

2 bd · 1.0 ba · 725 sqft · SingleFamily · 34 Days on market

Built 1994

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.8/10.0
• Schools +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This & quot; Moderate& quot; Income (Affordable Unit) is located in & quot; The Glens& quot; in Pompton Plains/Pequannock, Morris County, NJ. The condo is priced by the Pequannock Township Fair Housing Program at $200,972.00. This condo can only be sold to a qualified buyer. Single applicants cannot earn more than $75,840 a year, and a couple no more than $86,640. Interested buyers must apply through Pequannock& apos; s Affordable Housing Program which is managed by Piazza & amp; Associates (609 786-1100) www. piazza-and-associates. com). A preliminary application can be downloaded at the Pequannock Township website (www. peqtwp. org). THIS IS AN & quot; EQUA

Key facts

• Open concept
• White cabinets
• Large picture window

Tags

• OPEN CONCEPT
• LARGE PICTURE WINDOW
• LARGE CLOSET SPACE
• PANTRY CLOSET
• LIGHT OAK LAMINATE FLOORING
• WHITE CABINETS

Property features AI

Exterior

• Home design: Built in 1994
• Construction: Residential property
• Exterior features: Located in the Pompton Plains subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $201k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $201k).
• Recommended offer: $195k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Pequannock Township School District (suburban): math 39% / reading 60% proficiency, ranked #129 of 472 in NJ (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 3% free/reduced lunch — higher-income household profile.
• Market conditions: 6 active listings in the ZIP; 2,357 units permitted in Morris County in 2024 (1,496 in 5+ unit buildings).

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.
• Morris County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $136k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,942 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.08% ✓
• Cap rate: 7.97%
• Cash-on-cash: 6.00%
• DSCR: 1.27
• GRM: 7.7

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-14,601
• Equity at exit: $29,966

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $10,584
• Equity at exit: $17,376

Cash invested: $56,272 (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 07444

• Active inventory: 6
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$1,054
• Tax from tax record: −$295 /mo · $3,535/yr
• Insurance: −$84
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $281

Break-even live

Break-even rent $1,813

Max offer price $200,972

Occupancy floor 82%

Sensitivity live

Price	-10% $395	-5% $338	+0% $281	+5% $224	+10% $167
Rent	-10% $110	-5% $195	+0% $281	+5% $367	+10% $452
Rate	-1.0pp $382	-0.5pp $332	base $281	+0.5pp $229	+1.0pp $176

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: $50,243
• Closing costs: $6,029
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-16
   status $200,972 Under Contract 34 DOM
2. 2026-06-15
   days on market $200,972 Active 34 DOM
3. 2026-06-13
   days on market $200,972 Active 32 DOM
4. 2026-06-09
   days on market $200,972 Active 28 DOM
5. 2026-06-08
   days on market $200,972 Active 27 DOM
6. 2026-06-07
   days on market $200,972 Active 26 DOM
7. 2026-06-04
   days on market $200,972 Active 23 DOM
8. 2026-06-03
   days on market $200,972 Active 22 DOM
9. 2026-06-02
   days on market $200,972 Active 21 DOM
10. 2026-06-01
    days on market $200,972 Active 20 DOM
11. 2026-05-31
    days on market $200,972 Active 19 DOM
12. 2026-05-12
    listed $200,972 Active 1883-char remark
13. 2016-01-05
    soldstatus $135,535
14. 2012-07-16
    soldstatus $135,535
15. 1995-06-13
    soldstatus $85,800

ⓘ 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: $3,535 · $295/mo
• Projected year-2 tax: $4,269 · $356/mo
• Expected delta: +$735/yr (+$61/mo · 20.8%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,025
• − Mortgage interest: −$11,258
• − Property taxes: −$3,535
• − Insurance: −$1,005
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$5,846
• Taxable income: $218
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $3,321/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: Pequannock Township School District
• NCES district ID: 3412900
• Math proficiency: 39% ▼ -27.00%
• Reading proficiency: 60% ▼ -18.00%
• Median HH income: $87,849
• Composite: 45.91/100
• National rank: #2547
• State rank: #129 of 472 in NJ

Livability — Pompton Plains

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

Census & demographics

• Census place: Pompton Plains, NJ
• City population: 10,766
• Population (ZIP): 10,766

Population outlook (Morris County) Hauer SSP2

• Today (2025): 516,747 people
• By 2030: 524,603 · +1.5%
• By 2040: 539,582 · +4.4%
• By 2050: 548,986 · +6.2%
• By 2075: 571,326 · +10.6%
• By 2100: 561,122 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 5% Asian 2% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 9% Slovak 4% Iranian 3%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Morris

• 2024 margin: Toss-up / Even · D 47.7% · R 50.4% · Other 1.9%
• 2008→2024 swing: +5.4pp toward D · 2008: -8.1pp · 2024: -2.7pp
• All cycles: 2024: R+2.7 2020: D+4.2 2016: R+4.4 2012: R+11.6 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -218.90%
• Current HPI: 264.277
• 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

+134.2% since first listed

5 events — show timeline

• 2026-06-16 Pending — FSBO.com
• 2026-05-12 Listed $200,972 FSBO.com
• 2016-01-05 Sold (Public Records) $135,535 Public Records
• 2012-07-16 Sold (Public Records) $135,535 Public Records
• 1995-06-13 Sold (Public Records) $85,800 Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,535 · +5.3% YoY. Source: county tax records.