37 Colonial Ct Ct #37 · Smithville, NJ 08205

$167,900

2 bd · 1.0 ba · 894 sqft · Condo · 89 Days on market

Built 1987 $150/mo HOA · 8% 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 +21.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.7/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

First floor unit in Mattix Crossing. Very well cared for. 2 bedrooms 1 full bath with full a dining room and open kitchen concept. Newer fridge and dishwasher. Patio off of the living room area to enjoy the outdoor space. Long term Tenant is in place until 8-31-2025. Tenant currently pays $1300.00 per month and would like to stay if possible. Walking distance to bus stop. Close to Historic Smithville, Stockton, Atlanticare and Parkway Entrance. Perfect place to call home or make an investment for your future!

Key facts

• Open kitchen concept
• Private patio
• Prime location

Tags

• OPEN KITCHEN CONCEPT
• PRIVATE PATIO
• PRIME LOCATION
• WALKING DISTANCE TO BUS STOP
• MINUTES FROM ATLANTICARE

Property features AI

Finance

• Other: Common area features include bus service, clubhouse/clubroom, and patio
• Financial info: Property listed for sale
• HOA & community: Monthly association fee of $150; Association fee includes maintenance and management; Association managed by on-site professionals and others

Exterior

• Parking: Assigned exterior parking; No garage
• Security: No security details provided
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Condominium (Mattix Crossing); Unit on first floor; Building has 3–5 stories; Property age 25+ years; Zoned NR; No pets allowed
• Construction: No construction material or roof information provided; No foundation details provided
• Exterior features: Wooded lot; No waterfront

Interior

• Kitchen: No appliances listed
• Bedrooms: Unit is one level and located on the first floor
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Forced air heating (natural gas)
• Interior features: Dining room; Central air conditioning; Forced air heating (natural gas)
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $168k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $158k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#402 in NJ) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: cost of living C-, amenities F, commute F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Smithville Elementary School (math 22% / reading 38%, grade F, #721 of 1,303 statewide, top 56%, 573 students, 44% FRL); Galloway Township Middle School (math 19% / reading 47%, grade F, #271 of 431 statewide, top 64%, 726 students, 47% FRL); Absegami High School (math 18% / reading 48%, grade F, #259 of 399 statewide, top 66%, 1,125 students, 52% FRL).
• Market conditions: 245 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 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 $5k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $89k; list at $168k implies a 89% gain — meaningful room to come down on a strong offer.

Recommended offer $157,826 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 7.1

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-11,946
• Equity at exit: $25,034

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $9,587
• Equity at exit: $14,517

Cash invested: $47,012 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 245
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,960 medium
• Mortgage (P&I): −$880
• Tax est. 1.5%: −$210 /mo · $2,518/yr
• Insurance: −$70
• HOA: −$150
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $238

Break-even live

Break-even rent $1,659

Max offer price $167,900

Occupancy floor 83%

Sensitivity live

Price	-10% $354	-5% $296	+0% $238	+5% $180	+10% $122
Rent	-10% $83	-5% $160	+0% $238	+5% $315	+10% $393
Rate	-1.0pp $322	-0.5pp $280	base $238	+0.5pp $194	+1.0pp $150

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: $41,975
• Closing costs: $5,037
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Iroquois Dr Galloway, NJ	2.0	1.0	855	$1,800	$2.11	15d	1	0.39mi
31 Arapaho Pl Unit 1 Galloway, NJ	2.0	1.0	855	$2,100	$2.46	15d	1	0.42mi
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	23d	1	1.06mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-03
   days on market $167,900 Under Contract 89 DOM
2. 2026-06-02
   days on market $167,900 Under Contract 88 DOM
3. 2026-06-01
   days on market $167,900 Under Contract 87 DOM
4. 2026-05-31
   days on market $167,900 Under Contract 86 DOM
5. 2026-05-30
   days on market $167,900 Under Contract 85 DOM
6. 2026-05-15
   historical Under Contract
7. 2026-04-25
   status Active - Back on Market
8. 2026-03-24
   historical Under Contract
9. 2026-03-06
   listed $167,900 Active
10. 2026-02-17
    historical 514-char remark

    Show marketing remark (514 chars)

    First floor unit in Mattix Crossing. Very well cared for. 2 bedrooms 1 full bath with full a dining room and open kitchen concept. Newer fridge and dishwasher. Patio off of the living room area to enjoy the outdoor space. Long term Tenant is in place until 8-31-2025. Tenant currently pays $1300.00 per month and would like to stay if possible. Walking distance to bus stop. Close to Historic Smithville, Stockton, Atlanticare and Parkway Entrance. Perfect place to call home or make an investment for your future!

11. 2025-11-19
    listed $167,900 Active 514-char remark

    Show marketing remark (514 chars)

    First floor unit in Mattix Crossing. Very well cared for. 2 bedrooms 1 full bath with full a dining room and open kitchen concept. Newer fridge and dishwasher. Patio off of the living room area to enjoy the outdoor space. Long term Tenant is in place until 8-31-2025. Tenant currently pays $1300.00 per month and would like to stay if possible. Walking distance to bus stop. Close to Historic Smithville, Stockton, Atlanticare and Parkway Entrance. Perfect place to call home or make an investment for your future!

12. 2025-11-10
    historical 363-char remark

    Show marketing remark (363 chars)

    * * 2 bedroom 1 Bathroom * * Well Maintained * * Close To Stockton University * * Easy Access To Garden State Parkway And Atlantic City Expressway * * Short Drive to Atlantic City And Brigantine Beaches * * Long Term Tenant Who Would Like To Stay If Possible * * Tenant Just Renewed Lease September 1 For One More Year * * Tenant Pays $1,300.00/Month * *

13. 2025-09-02
    listed $168,000 Active 363-char remark

    Show marketing remark (363 chars)

    * * 2 bedroom 1 Bathroom * * Well Maintained * * Close To Stockton University * * Easy Access To Garden State Parkway And Atlantic City Expressway * * Short Drive to Atlantic City And Brigantine Beaches * * Long Term Tenant Who Would Like To Stay If Possible * * Tenant Just Renewed Lease September 1 For One More Year * * Tenant Pays $1,300.00/Month * *

14. 2009-07-24
    soldstatus $89,000
15. 2009-07-17
    historical
16. 2008-10-06
    listed $96,900

ⓘ 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: $23,514
• − Mortgage interest: −$9,405
• − Property taxes: −$2,518
• − Insurance: −$840
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − HOA: −$1,800
• − Depreciation: −$4,884
• Taxable income: $305
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,779/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: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Smithville

• Score: 64/100
• State rank: #402
• US rank: #13992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithville, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 28,877
• Household income: $93,370
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 732.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 62% Hispanic / Latino 14% Two or more races 12% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 7% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 7% Russian/Polish/Slavic 3%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.12%
• Current HPI: 315.4814
• Rent YoY: —
• Metro: Atlantic City-Hammonton, NJ
• 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

+73.3% since first listed

11 events — show timeline

• 2026-05-15 Contingent — SJSRMLS
• 2026-04-25 Relisted — SJSRMLS
• 2026-03-24 Contingent — SJSRMLS
• 2026-03-06 Listed $167,900 SJSRMLS
• 2026-02-17 Listing Removed — SJSRMLS
• 2025-11-19 Listed $167,900 SJSRMLS
• 2025-11-10 Listing Removed — SJSRMLS
• 2025-09-02 Listed $168,000 SJSRMLS
• 2009-07-24 Sold (MLS) $89,000 SJSRMLS
• 2009-07-17 Listing Removed — SJSRMLS
• 2008-10-06 Listed $96,900 SJSRMLS