1099L4 Plan · Pine Ridge at Crestwood, NJ 08759

$59,900

2 bd · 2.0 ba · 1,056 sqft · Manufactured · 30 Days on market

Fair condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. Welcome to Pine Ridge at Crestwood a 55+ age-qualified active and vibrant community, where you can find the perfect home. Unlock the potential in this 2019 1056.00 sq ft 2 bed, 2 bath home located in Whiting. This property is perfect for savvy buyers looking for a project with strong upside potential. This home offers a solid structure and layout with plenty of room for customization. While the property does require upgrades or repairs, it presents a rare opportunity to renovate to your taste or maximize resale value in a thriving market. Features include a spacious backyard with room for landscaping, storage shed, close to the community lodge. Located in the de

Key facts

• Fitness center
• Spacious backyard
• Bocce courts

Tags

• SPACIOUS BACKYARD
• STORAGE SHED
• COMMUNITY LODGE
• FITNESS CENTER
• TWO CLUBHOUSES
• BOCCE COURTS

Property features AI

Finance

• Financial info: Listed for $59,900

Exterior

• Home design: Single-family plan (1099L4); Located in Manchester Township, NJ
• Construction: Living area of 1056

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Plan home (1099L4)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.0% vs local median 5.9% in Pine Ridge at Crestwood — 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 60/100 on livability (#481 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B; Watch: employment D, schools F, amenities F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.85% ✓
• Cap rate: 25.05%
• Cash-on-cash: 66.97%
• DSCR: 3.98
• GRM: 2.9

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: 66.3%
• Equity multiple: 3.98×
• Total profit: $49,937
• Equity at exit: $8,931

10-year hold

• IRR: 70.6%
• Equity multiple: 8.18×
• Total profit: $120,355
• Equity at exit: $5,179

Cash invested: $16,772 (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 08759

• Active inventory: 648
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,709 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $936

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 40%

Sensitivity live

Price	-10% $977	-5% $957	+0% $936	+5% $915	+10% $895
Rent	-10% $801	-5% $869	+0% $936	+5% $1,004	+10% $1,071
Rate	-1.0pp $966	-0.5pp $951	base $936	+0.5pp $921	+1.0pp $905

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Partridge Pl Manchester Township, NJ	3.0	2.0	1248	$1,780	$1.43	12d	1	0.27mi
— Manchester Township, NJ	2.0	2.0	1141	$1,700	$1.49	10d	1	0.28mi
7 Teal Ct Whiting, NJ	2.0	2.0	1056	$1,600	$1.52	4d	1	0.44mi
57D Milford Ave Unit 53 Whiting, NJ	2.0	1.0	880	$1,800	$2.05	25d	1	1.43mi

Listing history 14 events

1. 2026-06-18
   days on market $59,900 Active 30 DOM
2. 2026-06-17
   days on market $59,900 Active 29 DOM
3. 2026-06-16
   days on market $59,900 Active 28 DOM
4. 2026-06-15
   days on market $59,900 Active 27 DOM
5. 2026-06-13
   days on market $59,900 Active 25 DOM
6. 2026-06-09
   days on market $59,900 Active 21 DOM
7. 2026-06-08
   days on market $59,900 Active 20 DOM
8. 2026-06-07
   days on market $59,900 Active 19 DOM
9. 2026-06-04
   days on market $59,900 Active 16 DOM
10. 2026-06-03
    days on market $59,900 Active 15 DOM
11. 2026-06-02
    days on market $59,900 Active 14 DOM
12. 2026-06-01
    days on market $59,900 Active 13 DOM
13. 2026-05-31
    days on market $59,900 Active 12 DOM
14. 2026-05-20
    listed $59,900 Active 1193-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,506
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$1,743
• Taxable income: $10,929
• Est. tax owed @ 24.0%: −$2,623
• After-tax cash flow: $8,609/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

This 2019 manufactured home requires moderate renovations to improve its curb appeal and functionality, with a focus on painting the exterior and replacing the deck.

Repairs flagged

• Minor Deck — Worn wooden deck
• Minor Foundation — No visible cracks

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Both Replace deck — Improves functionality and aesthetics
• Both Landscaping — Enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Worn wooden deck	Minor	$500–3,000
Foundation · No visible cracks	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Both Replace deck — Improves functionality and aesthetics ↑
• Both Landscaping — Enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Pine Ridge at Crestwood

• Score: 60/100
• State rank: #481
• US rank: #18916

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Ridge at Crestwood, NJ
• Population (ZIP): 34,290

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -347.85%
• Current HPI: 274.4679
• 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