1605 Waldon Ct · Gloucester, NJ 08081

$149,900

1 bd · 1.0 ba · 585 sqft · SingleFamily public records · 78 Days on market

Built 1983 $220/mo HOA · 12% of rent

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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 +19.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.1/10.0
• Rent growth +3.4/5.0
• Schools +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

"Beautiful" describes this first floor condo facing the golf course featuring a large master bedroom, a built in garden tub, and, if need be, a removable bed. Includes, living/great room with pergo floors, wood burning fireplace, a kitchen with a dining area, and a patio. Don't pay rent, you can own this unit for cheaper (condo association feature). Workout facilities, indoor heated pool, suana, and a clubhouse are offered. THIS IS A MUST SEE.

Key facts

• Lower level condo
• Newer kitchen
• Newer flooring

Tags

• LOWER LEVEL CONDO
• PRIVATE LOCATION
• NEWER KITCHEN
• NEWER FLOORING
• NEWER BATHROOM
• MODERN DÉCOR

Property features AI

Finance

• HOA & community: Monthly HOA/condo fee ($220) covering pool(s), common area maintenance, exterior building maintenance, lawn maintenance, snow removal, trash, parking fee, health club and other ground fees; Community amenities include swimming pool, tennis courts, and clubhouse

Exterior

• Parking: Parking lot; Parking is rented or requires a permit
• Utilities: Public water; Public sewer; Cable TV available
• Home design: Condominium ownership; Interior townhouse/rowhouse; Effective year built 2025; Excellent property condition
• Construction: Vinyl siding; Permanent foundation; Above-grade and below-grade structures
• Exterior features: Patio(s); Community pool; Not in a federal flood zone

Interior

• Kitchen: Eat-in kitchen; Breakfast area
• Bedrooms: 1 bedroom on the main level; Total rooms include living room, master bedroom, kitchen
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Forced air heating; Natural gas heating; Central air conditioning; Electric hot water
• Interior features: Eat-in kitchen; Breakfast area; Ceiling fans; Open floor plan with combined dining and living area
• Laundry & utility: Main-floor laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% 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.
• Gloucester Township Public Schools (suburban): math 14% / reading 41% proficiency, ranked #351 of 472 in NJ (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.4%/yr); 334 active listings in the ZIP; solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 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 $4k 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

• It's been on market 78 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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 $86k; list at $150k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.41% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-13,047
• Equity at exit: $22,351

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $5,697
• Equity at exit: $12,961

Cash invested: $41,972 (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 08081

• Rents YoY: 3.4%
• Active inventory: 334
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$191 /mo · $2,287/yr
• Insurance: −$62
• HOA: −$220
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $162

Break-even live

Break-even rent $1,594

Max offer price $149,900

Occupancy floor 86%

Sensitivity live

Price	-10% $247	-5% $205	+0% $162	+5% $120	+10% $77
Rent	-10% $20	-5% $91	+0% $162	+5% $233	+10% $304
Rate	-1.0pp $238	-0.5pp $200	base $162	+0.5pp $123	+1.0pp $84

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $220 · $2,640/yr
• Likely covers: pool

Listing history 13 events

1. 2026-05-13
   price $149,900
2. 2026-03-10
   listed $152,000 Active
3. 2011-06-30
   historical
4. 2011-04-25
   listed $89,900
5. 2005-05-25
   soldstatus $86,500
6. 2005-05-20
   soldstatus $86,500 457-char remark

   Show marketing remark (457 chars)

   "Beautiful" describes this first floor condo facing the golf course featuring a large master bedroom, a built in garden tub, and, if need be, a removable bed. Includes, living/great room with pergo floors, wood burning fireplace, a kitchen with a dining area, and a patio. Don't pay rent, you can own this unit for cheaper (condo association feature). Workout facilities, indoor heated pool, suana, and a clubhouse are offered. THIS IS A MUST SEE.

7. 2005-04-18
   historical 457-char remark

   Show marketing remark (457 chars)

   "Beautiful" describes this first floor condo facing the golf course featuring a large master bedroom, a built in garden tub, and, if need be, a removable bed. Includes, living/great room with pergo floors, wood burning fireplace, a kitchen with a dining area, and a patio. Don't pay rent, you can own this unit for cheaper (condo association feature). Workout facilities, indoor heated pool, suana, and a clubhouse are offered. THIS IS A MUST SEE.

8. 2005-04-15
   listed $86,500 457-char remark

   Show marketing remark (457 chars)

   "Beautiful" describes this first floor condo facing the golf course featuring a large master bedroom, a built in garden tub, and, if need be, a removable bed. Includes, living/great room with pergo floors, wood burning fireplace, a kitchen with a dining area, and a patio. Don't pay rent, you can own this unit for cheaper (condo association feature). Workout facilities, indoor heated pool, suana, and a clubhouse are offered. THIS IS A MUST SEE.

9. 2005-01-06
   historical
10. 2004-07-06
    listed $88,850
11. 2002-07-29
    soldstatus $52,000
12. 2002-06-12
    listed $52,000
13. 1985-12-11
    soldstatus $41,500

ⓘ 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: $2,287 · $191/mo
• Projected year-2 tax: $3,010 · $251/mo
• Expected delta: +$723/yr (+$60/mo · 31.6%)

ⓘ 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 69% 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: $21,590
• − Mortgage interest: −$8,397
• − Property taxes: −$2,287
• − Insurance: −$750
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − HOA: −$2,640
• − Depreciation: −$4,361
• Taxable loss: −$298
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $2,018/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: Gloucester Township Public Schools
• NCES district ID: 3406030
• Math proficiency: 14% ▼ -28.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $72,539
• Composite: 26.18/100
• National rank: #7269
• State rank: #351 of 472 in NJ

Livability — Gloucester

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

Census & demographics

• Census place: Sicklerville, NJ
• County: Camden County · 407,624 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 50,264
• Household income: $105,800
• Rent vs Own: 15.1% rent · 84.9% own
• Severe rent burden: 979.0

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 0.65)
• Race & ethnicity: White 47% Black 34% Two or more races 9% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 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: ▼ -176.48%
• Current HPI: 303.1017
• Rent YoY: ▲ 3.41%
• 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

+261.2% since first listed

13 events — show timeline

• 2026-05-13 Price Changed $149,900 BRIGHT MLS
• 2026-03-10 Listed $152,000 BRIGHT MLS
• 2011-06-30 Listing Removed — BRIGHT MLS
• 2011-04-25 Listed $89,900 BRIGHT MLS
• 2005-05-25 Sold (Public Records) $86,500 Public Records
• 2005-05-20 Sold (MLS) $86,500 BRIGHT MLS
• 2005-04-18 Listing Removed — BRIGHT MLS
• 2005-04-15 Listed $86,500 BRIGHT MLS
• 2005-01-06 Listing Removed — BRIGHT MLS
• 2004-07-06 Listed $88,850 BRIGHT MLS
• 2002-07-29 Sold (MLS) $52,000 BRIGHT MLS
• 2002-06-12 Listed $52,000 BRIGHT MLS
• 1985-12-11 Sold (Public Records) $41,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $2,287 · +2.5% YoY. Source: county tax records.