139B Farrington Ct · Leisure Village, NJ 08701

$159,500

2 bd · 1.0 ba · 858 sqft · SingleFamily · 92 Days on market

Built 1967 Good condition 871 sqft lot $186/sqft · 5% below area Est $168k · 5% under $324/mo HOA · 16% of rent ↓ 6% since listing

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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 +18.0/30.0
• ARV discount +9.9/15.0
• 1% rule +7.4/10.0
• DSCR +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully recently renovated home located in the desirable Leisure Village adult community of Seven Lakes. This well-maintained property features 2 spacious bedrooms and 1 updated bathroom, offering comfortable and convenient one-level living. Enjoy a bright and inviting front screened-in room, perfect for relaxing or entertaining guests. The home boasts a fully renovated kitchen with modern finishes, along with an updated bathroom, providing a fresh and move-in-ready feel throughout. Ideally situated in a convenient location close to shopping, dining, and major roadways, this home offers both comfort and accessibility.

Key facts

• Updated bathroom
• Community pool
• Built 1967

Tags

• FRONT SCREENED-IN ROOM
• FULLY RENOVATED KITCHEN
• UPDATED BATHROOM
• LEISURE VILLAGE AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 5.7% in Leisure Village — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 64/100 on livability (#416 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B; Watch: amenities F, commute F, employment F.
• Lakewood Township School District (suburban): math 17% / reading 28% proficiency, ranked #417 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oak Street Elem School (math 17% / reading 21%, grade F, #1,030 of 1,303 statewide, top 80%, 534 students, 97% FRL); Lakewood Middle School (math 16% / reading 30%, grade F, #376 of 431 statewide, top 88%, 995 students, 94% FRL); Lakewood High School (math 14% / reading 37%, grade F, #321 of 399 statewide, top 81%, 1,423 students, 86% FRL).
• Market conditions: 652 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 66d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 37% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Ocean 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 92 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% 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 $145,145 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.24% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 6.7

CMA / ARV

• ARV (median comp): $168,323
• List price: $159,500
• Delta: -5.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Coventry Ct Unit E	0.25mi	2/1.0	858 (0%)	2mo	$185,000	$216	87
103F Edinburgh Ln	0.32mi	2/1.0	858 (0%)	1mo	$185,000	$216	85
91F Buckingham Dr Unit F	0.21mi	2/1.0	819 (-4%)	1mo	$140,000	$171	82
99F Edinburgh Ln	0.29mi	2/1.0	819 (-4%)	1mo	$110,000	$134	78
62F Buckingham Dr Unit 100f	0.27mi	2/1.0	928 (+8%)	1mo	$162,000	$175	73
651B Plymouth Dr Unit B	0.60mi	2/1.0	858 (0%)	0mo	$185,000	$216	72
653F Plymouth Dr	0.62mi	2/1.0	858 (0%)	2mo	$196,500	$229	69
220A Buckingham Ct	0.31mi	2/1.0	982 (+14%)	1mo	$179,000	$182	60
463D Portsmouth Dr #1004	0.47mi	2/1.0	982 (+14%)	1mo	$189,000	$192	53
381B Chatham Ct	0.47mi	2/1.0	982 (+14%)	1mo	$225,000	$229	53
499B Thornbury Ct	0.55mi	2/1.0	982 (+14%)	1mo	$165,000	$168	49
679B New Castle Ct	0.60mi	2/1.0	982 (+14%)	1mo	$175,000	$178	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-16,793
• Equity at exit: $23,782

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-2,330
• Equity at exit: $13,791

Cash invested: $44,660 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 65 active · 52 under contract
• Months of supply: 6.7 mo (15%/mo absorbed)
• Median asking: $189,000 ($212/sqft)
• Median days on market: 59 d
• This list price: 22% of active listings are priced below it
• ARV vs active asking: -7.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 08701

• Active inventory: 652
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,981 high
• Mortgage (P&I): −$836
• Tax est. 1.5%: −$199 /mo · $2,392/yr
• Insurance: −$66
• HOA: −$324
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $139

Break-even live

Break-even rent $1,805

Max offer price $159,500

Occupancy floor 88%

Sensitivity live

Price	-10% $249	-5% $194	+0% $139	+5% $83	+10% $28
Rent	-10% $-18	-5% $60	+0% $139	+5% $217	+10% $295
Rate	-1.0pp $219	-0.5pp $179	base $139	+0.5pp $97	+1.0pp $55

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: $39,875
• Closing costs: $4,785
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Malvern Ct Unit C Lakewood, NJ	2.0	1.0	858	$1,900	$2.21	7d	1	0.21mi
219 Buckingham Ct Lakewood, NJ	1.0	1.0	663	$1,900	$2.87	139d	1	0.30mi
47L Cambridge Ct Lakewood, NJ	2.0	1.0	841	$1,795	$2.13	120d	1	0.31mi
365F Chesterfield Ct Lakewood, NJ	1.0	1.0	663	$1,500	$2.26	7d	1	0.36mi
106 Edinburgh Ln Lakewood, NJ	2.0	1.0	858	$1,900	$2.21	24d	1	0.36mi
341B Canterbury Ct Lakewood, NJ	2.0	1.0	982	$2,275	$2.32	117d	1	0.37mi
106A Edinburgh Ln Lakewood, NJ	2.0	1.0	858	$2,200	$2.56	113d	1	0.38mi
363B Chesterfield Ct Lakewood, NJ	2.0	1.0	858	$1,900	$2.21	21d	1	0.39mi
335A Canterbury Ct Lakewood, NJ	2.0	1.0	982	$1,950	$1.99	114d	1	0.40mi
433D Picardy Ct Lakewood, NJ	1.0	1.0	663	$1,550	$2.34	7d	1	0.40mi
533E Dartmoor Ct Lakewood, NJ	1.0	1.0	663	$1,750	$2.64	20d	1	0.47mi
533E Dartmoor Ct Lakewood, NJ	1.0	1.0	663	$1,750	$2.64	65d	1	0.47mi
278C Kingston Ct Lakewood, NJ	2.0	1.0	1000	$2,150	$2.15	51d	1	0.53mi
278C Kingston Ct Lakewood, NJ	2.0	1.0	1000	$2,150	$2.15	84d	1	0.53mi
523 Sophee Ln #1000 Lakewood, NJ	1.0	1.0	889	$1,800	$2.02	94d	1	0.96mi
1034B Aberdeen Dr Lakewood, NJ	1.0	1.0	663	$1,350	$2.04	41d	1	1.12mi
1034B Aberdeen Dr Lakewood, NJ	1.0	1.0	663	$1,350	$2.04	89d	1	1.12mi
1042C Aberdeen Dr Unit C Lakewood, NJ	2.0	1.0	982	$2,000	$2.04	99d	1	1.18mi
1100 Deer Path Lakewood, NJ	2.0	1.0–1.5	1187	$2,450	$2.06	7d	4	1.30mi
841B Inverness Ct Lakewood, NJ	1.0	1.0	663	$1,600	$2.41	51d	1	1.31mi
824A Balmoral Ct Unit A Toms River, NJ	2.0	1.0	982	$2,200	$2.24	114d	1	1.35mi
829A Balmoral Ct Unit 1001 Lakewood, NJ	1.0	1.0	663	$1,600	$2.41	120d	1	1.40mi
2173 Mount Hood Ln Toms River, NJ	2.0	1.0	1100	$2,500	$2.27	0d	1	1.43mi

Property features AI

Finance

• HOA & community: Community amenities include exercise room, pool, golf course and clubhouseMonthly association fee of 324.00 covering trash, common area, lawn maintenance, pool and snow removalAssociation present

Exterior

• Parking: No garage
• Utilities: Public sewer
• Home design: CondominiumAttached propertyLocated in Leisure Village subdivision
• Exterior features: Flat roof

Interior

• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingCooling system (other)
• Interior features: Light fixturesNo fireplacesCeramic tile floors

Listing history 50 events

1. 2026-08-03
   days on market $159,500 Active 92 DOM
2. 2026-07-31
   days on market $159,500 Active 89 DOM
3. 2026-07-30
   days on market $159,500 Active 87 DOM
4. 2026-07-28
   days on market $159,500 Active 86 DOM
5. 2026-07-26
   days on market $159,500 Active 84 DOM
6. 2026-07-24
   days on market $159,500 Active 82 DOM
7. 2026-07-23
   days on market $159,500 Active 81 DOM
8. 2026-07-22
   days on market $159,500 Active 80 DOM
9. 2026-07-21
   days on market $159,500 Active 79 DOM
10. 2026-07-20
    days on market $159,500 Active 78 DOM
11. 2026-07-18
    days on market $159,500 Active 76 DOM
12. 2026-07-18
    days on market $159,500 Active 75 DOM
13. 2026-07-16
    days on market $159,500 Active 74 DOM
14. 2026-07-15
    days on market $159,500 Active 73 DOM
15. 2026-07-14
    days on market $159,500 Active 72 DOM
16. 2026-07-13
    days on market $159,500 Active 71 DOM
17. 2026-07-13
    days on market $159,500 Active 70 DOM
18. 2026-07-11
    days on market $159,500 Active 69 DOM
19. 2026-07-10
    days on market $159,500 Active 68 DOM
20. 2026-07-09
    days on market $159,500 Active 67 DOM
21. 2026-07-07
    days on market $159,500 Active 65 DOM
22. 2026-07-06
    days on market $159,500 Active 64 DOM
23. 2026-07-06
    days on market $159,500 Active 63 DOM
24. 2026-07-05
    days on market $159,500 Active 62 DOM
25. 2026-07-03
    days on market $159,500 Active 61 DOM
26. 2026-07-02
    days on market $159,500 Active 60 DOM
27. 2026-07-01
    days on market $159,500 Active 59 DOM
28. 2026-06-30
    days on market $159,500 Active 58 DOM
29. 2026-06-29
    days on market $159,500 Active 57 DOM
30. 2026-06-28
    days on market $159,500 Active 56 DOM
31. 2026-06-27
    days on market $159,500 Active 55 DOM
32. 2026-06-26
    days on market $159,500 Active 54 DOM
33. 2026-06-24
    days on market $159,500 Active 52 DOM
34. 2026-06-22
    days on market $159,500 Active 50 DOM
35. 2026-06-21
    days on market $159,500 Active 49 DOM
36. 2026-06-18
    days on market $159,500 Active 46 DOM
37. 2026-06-17
    days on market $159,500 Active 45 DOM
38. 2026-06-16
    days on market $159,500 Active 44 DOM
39. 2026-06-15
    days on market $159,500 Active 43 DOM
40. 2026-06-13
    days on market $159,500 Active 41 DOM
41. 2026-06-13
    days on market $159,500 Active 40 DOM
42. 2026-06-09
    days on market $159,500 Active 37 DOM
43. 2026-06-08
    days on market $159,500 Active 36 DOM
44. 2026-06-07
    days on market $159,500 Active 35 DOM
45. 2026-06-04
    days on market $159,500 Active 32 DOM
46. 2026-06-03
    days on market $159,500 Active 31 DOM
47. 2026-06-02
    days on market $159,500 Active 30 DOM
48. 2026-06-01
    days on market $159,500 Active 29 DOM
49. 2026-05-31
    days on market $159,500 Active 28 DOM
50. 2026-05-18
    price $159,500

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

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 68% 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: $23,769
• − Mortgage interest: −$8,934
• − Property taxes: −$2,392
• − Insurance: −$798
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − HOA: −$3,888
• − Depreciation: −$4,640
• Taxable loss: −$686
• Est. tax savings @ 24.0%: +$165
• After-tax cash flow: $1,827/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $4,290–$12,870 screening

This recently renovated home in Leisure Village offers comfortable and convenient one-level living with modern finishes and updated bathrooms. The property is well-maintained and ready for move-in, with potential for further enhancing its curb appeal and outdoor living space.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and outdoor living space ↑
• Both Paint exterior — Freshens up the home's appearance ↑
• Rental Replace grills — Improves outdoor entertaining space ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Oak Street Elem School F NJ #1,030/1,303 Nat'l #34,564/41,679 Middle Lakewood Middle School F NJ #376/431 Nat'l #11,007/14,009 High Lakewood High School F NJ #321/399 Nat'l #12,309/17,239

Schools (NCES district)

• District: Lakewood Township School District
• NCES district ID: 3408220
• Math proficiency: 17% ▼ -4.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $42,301
• Composite: 19.21/100
• National rank: #8813
• State rank: #417 of 472 in NJ

C Composite livability gradescore 64/100

Livability — Leisure Village

• Score: 64/100
• State rank: #416
• US rank: #14624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leisure Village, NJ
• County: Ocean County · 586,991 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 139,149
• Household income: $64,959
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 19% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 6% Italian 5% Scotch-Irish 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 9% German/W. Germanic 7% Russian/Polish/Slavic 1%

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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: ▼ -682.83%
• Current HPI: 465.344
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

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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

Property features AI

Finance

• HOA & community: Community amenities include exercise room, pool, golf course and clubhouseMonthly association fee of 324.00 covering trash, common area, lawn maintenance, pool and snow removalAssociation present

Exterior

• Parking: No garage
• Utilities: Public sewer
• Home design: CondominiumAttached propertyLocated in Leisure Village subdivision
• Exterior features: Flat roof

Interior

• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingCooling system (other)
• Interior features: Light fixturesNo fireplacesCeramic tile floors

Price history

-6.1% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $159,500 MOMLS
• 2026-05-03 Listed $169,900 MOMLS