50 Pine St

Beverly, NJ 08010

$265,000C

4 bd · 1.0 ba · 1,468 sqft · Built 1920 · SingleFamily · Pending · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,811/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$641
• HOA: −$0
• Vac / Maint / Mgmt: −$590
• Net cashflow: $189/mo
• Annual: $2,271/yr
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• 1% rule: 1.06%
• Cash to close: $74,200

Investor read

• This is a 4-bed/1.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• It's been on market 42 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $257k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#130 in NJ, #3,487 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A; Watch: amenities F.
• Beverly City School (suburban): math 30% / reading 60% proficiency, ranked #441 of 612 in NJ (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Beverly City School District (math 12% / reading 32%, grade F, #951 of 1,303 statewide, top 75%, 343 students, 52% FRL).
• Zoned-school proficiency averages 22% at this address vs 45% district-wide (-23 pts) — the specific schools serving this property underperform the Beverly City School average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 66 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 15 sale attempts since 26y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 27% 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.
• Cap rate 7.2% vs local median 5.1% in Beverly — 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.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.