4B Easton Ct · Crestwood Village, NJ 08759

$189,900

4 bd · None ba · 1,544 sqft · MultiFamily · 58 Days on market

Built 1979 Fair condition 1,544 sqft lot

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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 +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Don't miss this large Lynnewood model in the sought after Crestwood 5. Needs some TLC and decluttering but this will be a great place to call home. Spacious living room and dining room, eat in kitchen, 2 ample sized bedrooms and 2 full baths. Harry Wright lake park 5 min away offers swimming, free concerts and beautiful trails. Atlantic City less than 1 hour away; local beaches 20 min. Great place to retire. Don't miss this great opportunity to make this your own. 55+ community. Additional Notes House will be sold as is.

Key facts

• Lynnewood model
• Local beaches
• 1,544 sq ft lot

Tags

• LYNNEWOOD MODEL
• HARRY WRIGHT LAKE PARK
• LOCAL BEACHES

Property features AI

Exterior

• Parking: Attached front-entry garage with 1 space
• Utilities: Public sewer; Electric heating and hot water; Electric cooling; Cable TV available
• Home design: Fee simple ownership; Single building with multiple units; Estimated year built
• Construction: Block, concrete, and aluminum siding construction; Asphalt shingle roof
• Exterior features: Located on a cul-de-sac; Above-grade other structures

Interior

• Kitchen: Dishwasher; Self-cleaning oven; Electric range/oven
• Bedrooms: Two 2-bedroom units (multi-unit configuration)
• Flooring: Carpet
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Combination kitchen/dining area; Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 5.5% in Crestwood Village — 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 63/100 on livability (#422 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, health & safety B+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Whiting Elementary School (math 22% / reading 47%, grade F, #582 of 1,303 statewide, top 49%, 301 students, 25% FRL); Manchester Township Middle School (math 28% / reading 45%, grade F, #226 of 431 statewide, top 55%, 582 students, 41% FRL); Manchester Township High School (math 21% / reading 38%, grade F, #290 of 399 statewide, top 74%, 959 students, 38% FRL).
• Market conditions: 658 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.07% ✓
• Cap rate: 17.61%
• Cash-on-cash: 40.41%
• DSCR: 2.80
• GRM: 4.0

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: 36.9%
• Equity multiple: 2.57×
• Total profit: $83,342
• Equity at exit: $28,315

10-year hold

• IRR: 43.5%
• Equity multiple: 5.13×
• Total profit: $219,677
• Equity at exit: $16,419

Cash invested: $53,172 (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: 658
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,928 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$825
• Net cashflow: $1,791

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 49%

Sensitivity live

Price	-10% $1,922	-5% $1,856	+0% $1,791	+5% $1,725	+10% $1,660
Rent	-10% $1,480	-5% $1,636	+0% $1,791	+5% $1,946	+10% $2,101
Rate	-1.0pp $1,886	-0.5pp $1,839	base $1,791	+0.5pp $1,742	+1.0pp $1,691

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,928
Total (2 units)			$3,928

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $189,900 Active 58 DOM
2. 2026-06-18
   days on market $189,900 Active 55 DOM
3. 2026-06-17
   days on market $189,900 Active 54 DOM
4. 2026-06-16
   days on market $189,900 Active 53 DOM
5. 2026-06-15
   days on market $189,900 Active 52 DOM
6. 2026-06-13
   days on market $189,900 Active 50 DOM
7. 2026-06-09
   days on market $189,900 Active 46 DOM
8. 2026-06-08
   days on market $189,900 Active 45 DOM
9. 2026-06-07
   days on market $189,900 Active 44 DOM
10. 2026-06-04
    days on market $189,900 Active 41 DOM
11. 2026-06-03
    days on market $189,900 Active 40 DOM
12. 2026-06-02
    days on market $189,900 Active 39 DOM
13. 2026-06-01
    days on market $189,900 Active 38 DOM
14. 2026-05-31
    days on market $189,900 Active 37 DOM
15. 2026-04-24
    listed $189,900 Active 526-char remark

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $47,136
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$3,771
• − Management: −$3,771
• − Depreciation: −$5,524
• Taxable income: $19,635
• Est. tax owed @ 24.0%: −$4,712
• After-tax cash flow: $16,777/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 · 5 photos

Fair 45/100 Moderate rehab

This property requires significant exterior and interior repairs, including landscaping, painting, and kitchen updates. With proper renovations, it has the potential to be a great investment.

Repairs flagged

• Major Overgrown vegetation — The independent image shows significant overgrowth, indicating a major repair is needed.
• Major Landscaping — The independent image shows a lack of landscaping, which needs to be addressed.
• Major Exterior painting — The independent image shows a poorly maintained exterior, indicating a major repair is needed.
• Minor Interior painting — The listing photo shows some wear and tear, but the condition is not severe enough to be classified as major.

Value-add opportunities

• Both Landscaping and planting — A well-maintained exterior and landscaping can significantly increase both resale and rental value.
• Both Interior painting — Fresh paint can make the interior look more inviting and increase both resale and rental value.
• Both Kitchen updates — Updating the kitchen with modern appliances and cabinetry can increase both resale and rental value.
• Both Bathroom updates — Updating bathrooms with modern fixtures and finishes can increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Overgrown vegetation · The independent image shows significant overgrowth, indicating a major repair is needed.	Major	$15,000–50,000
Landscaping · The independent image shows a lack of landscaping, which needs to be addressed.	Major	$15,000–50,000
Exterior painting · The independent image shows a poorly maintained exterior, indicating a major repair is needed.	Major	$15,000–50,000
Interior painting · The listing photo shows some wear and tear, but the condition is not severe enough to be classified as major.	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both Landscaping and planting — A well-maintained exterior and landscaping can significantly increase both resale and rental value. ↑
• Both Interior painting — Fresh paint can make the interior look more inviting and increase both resale and rental value. ↑
• Both Kitchen updates — Updating the kitchen with modern appliances and cabinetry can increase both resale and rental value. ↑
• Both Bathroom updates — Updating bathrooms with modern fixtures and finishes can increase both resale and rental 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 — Crestwood Village

• Score: 63/100
• State rank: #422
• US rank: #15006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crestwood Village, NJ
• City population: 34,290
• 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

Price history

1 event — show timeline

• 2026-04-24 Listed $189,900 BRIGHT MLS