1561 Washington Ct · Mays Landing, NJ 08330

$310,000

3 bd · 2.5 ba · 1,500 sqft · Townhouse · 21 Days on market

Built 1989 Est $296k · at est. $434/mo HOA · 16% of rent

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +6.8/30.0
• ARV discount +5.3/15.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• DSCR +1.1/10.0

Listing remarks MLS

This is the one you've been looking for! This Mays Landing Village corner unit has everything you've been looking for and features you didn't know you were looking for but will love! This meticulously renovated home features 3 bedrooms and 2.5 baths remodeled to perfection. There is new luxury vinyl flooring throughout this well lit end unit and 9' ceilings to give that open feel. The kitchen is the main attraction featuring shiplap accents, cabinets to the ceiling, new GE appliance package, large stainless farm sink with commercial faucet, under cabinet lights and outlets, and full height backsplash. In the living room you will find a natural stone fireplace, French doors leading to the patio, and new front door. There is also a Nest system for the front door lock, door camera and thermostat. The master bedroom has a cathedral ceiling with a shiplap accent wall, custom closet system for maximized storage and completely renovated master bathroom. The bathroom contains a 7' double sink, large shower with seat, body sprays, removable and rain shower heads. This is the peak of luxury! Finally, they've installed a new larger AC unit and new furnace to keep the temperature just right. They've thought of everything in this unit, all you have to do is move in!

Key facts

• $434 HOA
• Community pool
• Built 1989

Property features AI

Finance

• HOA & community: Monthly association fee of $434; HOA offers outdoor pool

Exterior

• Parking: Parking lot
• Utilities: Community water; Public septic; Natural gas hot water
• Home design: End-of-row townhouse; Fee simple ownership; Year built reported by assessor
• Construction: Brick front; Other foundation; Other above- and below-grade structures
• Exterior features: Community outdoor pool; Lot dimensions reported by assessor

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms on upper levels; One half bathroom on main level
• Heating & cooling: Forced air heating fueled by natural gas; Central air conditioning with ceiling fans
• Interior features: Living area reported by assessor; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $310k.

Deal economics

• At list price, monthly cash flow is $-475 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (14.2% below list).
• Recommended offer: $241k (22.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#214 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety B+; Watch: commute C-, cost of living D+, amenities F.
• Hamilton Township School District (suburban): math 9% / reading 37% proficiency, ranked #401 of 472 in NJ (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 240 active listings in the ZIP; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 41% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $250k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 79% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $241,213 (22.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 4.45%
• Cash-on-cash: -6.57%
• DSCR: 0.71
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $295,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1551 John Adams Ct	0.14mi	3/2.5	1,494 (-0%)	0mo	$285,000	$191	93
1516 Thomas Jefferson Ct #1516	0.02mi	3/2.5	1,500 (0%)	11mo	$305,900	$204	90
1556 Benjamin Franklin Ct #1556	0.07mi	3/2.5	1,494 (-0%)	9mo	$295,000	$197	89
1556 Benjamin Franklin Ct	0.07mi	3/2.5	1,494 (-0%)	9mo	$295,000	$197	89
1537 Benjamin Franklin Ct	0.11mi	3/2.5	1,494 (-0%)	11mo	$300,000	$201	85
1544 Benjamin Franklin Ct	0.09mi	3/2.5	1,398 (-7%)	0mo	$289,000	$207	84
1515 Benjamin Franklin Ct #515	0.10mi	3/2.5	1,398 (-7%)	2mo	$290,000	$207	82
1574 John Adams Ct #1574	0.12mi	3/2.5	1,398 (-7%)	6mo	$285,000	$204	78
1566 Washington Ct #1566	0.01mi	3/2.5	1,620 (+8%)	11mo	$288,400	$178	77
1553 John Adams Ct #653	0.14mi	3/2.5	1,398 (-7%)	6mo	$237,500	$170	77
4830 Green Ash #287	0.74mi	2/1.5 (-1)	1,488 (-1%)	4mo	$237,350	$160	52
4930 Denbigh Ct	0.61mi	3/2.5	1,672 (+12%)	7mo	$205,000	$123	47

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.60×
• Total profit: $138,864
• Equity at exit: $279,273

10-year hold

• IRR: 18.1%
• Equity multiple: 5.99×
• Total profit: $433,352
• Equity at exit: $602,262

Cash invested: $86,800 (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 08330

• Home prices YoY: 3.9%
• Active inventory: 240
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,659 medium
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$434
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $-475

Break-even live

Break-even rent $3,261

Max offer price $241,213

Occupancy floor —

Sensitivity live

Price	-10% $-261	-5% $-368	+0% $-475	+5% $-582	+10% $-690
Rent	-10% $-685	-5% $-580	+0% $-475	+5% $-370	+10% $-265
Rate	-1.0pp $-319	-0.5pp $-397	base $-475	+0.5pp $-556	+1.0pp $-637

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $434 · $5,208/yr

Listing history 20 events

1. 2026-06-19
   days on market $310,000 Active 21 DOM
2. 2026-06-18
   days on market $310,000 Active 20 DOM
3. 2026-06-17
   days on market $310,000 Active 19 DOM
4. 2026-06-16
   days on market $310,000 Active 18 DOM
5. 2026-06-15
   days on market $310,000 Active 17 DOM
6. 2026-06-14
   days on market $310,000 Active 15 DOM
7. 2026-06-13
   days on market $310,000 Active 14 DOM
8. 2026-06-10
   days on market $310,000 Active 12 DOM
9. 2026-06-09
   days on market $310,000 Active 11 DOM
10. 2026-06-08
    days on market $310,000 Active 10 DOM
11. 2026-06-07
    days on market $310,000 Active 9 DOM
12. 2026-06-03
    days on market $310,000 Active 5 DOM
13. 2026-06-02
    days on market $310,000 Active 4 DOM
14. 2026-06-01
    days on market $310,000 Active 3 DOM
15. 2026-05-31
    days on market $310,000 Active 2 DOM
16. 2026-05-30
    listed $310,000 Active
17. 2026-05-28
    historical $310,000
18. 2022-06-24
    soldstatus $250,000 Closed 1274-char remark

    Show marketing remark (1274 chars)

    This is the one you've been looking for! This Mays Landing Village corner unit has everything you've been looking for and features you didn't know you were looking for but will love! This meticulously renovated home features 3 bedrooms and 2.5 baths remodeled to perfection. There is new luxury vinyl flooring throughout this well lit end unit and 9' ceilings to give that open feel. The kitchen is the main attraction featuring shiplap accents, cabinets to the ceiling, new GE appliance package, large stainless farm sink with commercial faucet, under cabinet lights and outlets, and full height backsplash. In the living room you will find a natural stone fireplace, French doors leading to the patio, and new front door. There is also a Nest system for the front door lock, door camera and thermostat. The master bedroom has a cathedral ceiling with a shiplap accent wall, custom closet system for maximized storage and completely renovated master bathroom. The bathroom contains a 7' double sink, large shower with seat, body sprays, removable and rain shower heads. This is the peak of luxury! Finally, they've installed a new larger AC unit and new furnace to keep the temperature just right. They've thought of everything in this unit, all you have to do is move in!

19. 2022-05-13
    status Pending 1274-char remark

    Show marketing remark (1274 chars)

    This is the one you've been looking for! This Mays Landing Village corner unit has everything you've been looking for and features you didn't know you were looking for but will love! This meticulously renovated home features 3 bedrooms and 2.5 baths remodeled to perfection. There is new luxury vinyl flooring throughout this well lit end unit and 9' ceilings to give that open feel. The kitchen is the main attraction featuring shiplap accents, cabinets to the ceiling, new GE appliance package, large stainless farm sink with commercial faucet, under cabinet lights and outlets, and full height backsplash. In the living room you will find a natural stone fireplace, French doors leading to the patio, and new front door. There is also a Nest system for the front door lock, door camera and thermostat. The master bedroom has a cathedral ceiling with a shiplap accent wall, custom closet system for maximized storage and completely renovated master bathroom. The bathroom contains a 7' double sink, large shower with seat, body sprays, removable and rain shower heads. This is the peak of luxury! Finally, they've installed a new larger AC unit and new furnace to keep the temperature just right. They've thought of everything in this unit, all you have to do is move in!

20. 2022-05-09
    listed $239,900 Active 1274-char remark

    Show marketing remark (1274 chars)

    This is the one you've been looking for! This Mays Landing Village corner unit has everything you've been looking for and features you didn't know you were looking for but will love! This meticulously renovated home features 3 bedrooms and 2.5 baths remodeled to perfection. There is new luxury vinyl flooring throughout this well lit end unit and 9' ceilings to give that open feel. The kitchen is the main attraction featuring shiplap accents, cabinets to the ceiling, new GE appliance package, large stainless farm sink with commercial faucet, under cabinet lights and outlets, and full height backsplash. In the living room you will find a natural stone fireplace, French doors leading to the patio, and new front door. There is also a Nest system for the front door lock, door camera and thermostat. The master bedroom has a cathedral ceiling with a shiplap accent wall, custom closet system for maximized storage and completely renovated master bathroom. The bathroom contains a 7' double sink, large shower with seat, body sprays, removable and rain shower heads. This is the peak of luxury! Finally, they've installed a new larger AC unit and new furnace to keep the temperature just right. They've thought of everything in this unit, all you have to do is move in!

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 79% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,913
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,553
• − Management: −$2,553
• − HOA: −$5,208
• − Depreciation: −$9,018
• Taxable loss: −$10,984
• Est. tax savings @ 24.0%: +$2,636
• After-tax cash flow: $-3,068/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: Hamilton Township School District
• NCES district ID: 3406510
• Math proficiency: 9% ▼ -20.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $60,997
• Composite: 21.34/100
• National rank: #8372
• State rank: #401 of 472 in NJ

Livability — Mays Landing

• Score: 72/100
• State rank: #214
• US rank: #5982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mays Landing, NJ
• County: Atlantic County · 143,611 people
• City population: 29,972
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 29,972
• Household income: $77,167
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1003.0

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 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 16% Black 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 84% English-only · Spanish 10% Tagalog/Filipino 1% Other Indo-European 1%

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: ▲ 11.58%
• Current HPI: 308.5148
• 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

+29.2% since first listed

5 events — show timeline

• 2026-05-30 Listed $310,000 BRIGHT MLS
• 2026-05-28 Coming Soon $310,000 BRIGHT MLS
• 2022-06-24 Sold (MLS) $250,000 BRIGHT MLS
• 2022-05-13 Pending — BRIGHT MLS
• 2022-05-09 Listed $239,900 BRIGHT MLS