222 Fulton St · Millville, NJ 08332

$164,900

3 bd · 2.0 ba · 1,410 sqft · SingleFamily public records · 36 Days on market

Built 1887 9,901 sqft lot Est $303k · 46% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 222 Fulton Street in Millville, NJ. The property was previously being used an an investment property and was garnering $2,000 a month in rent. The property offers a value add opportunity. The property consist of three full bedrooms and two full bathrooms. The rear deck and stairwell were recently replaced. Included are several sheds on the property and detached one car garage. The property is on an oversized lot and has a large yard. 222 Fulton Street is a half - double sharing a common wall with 220 Fulton Street. Current owner would prefer to sell 222 Fulton Street in conjunction with 220 Futon Street (Separately listed under MLS # NJCB2029950). These properties are separate

Key facts

• Large yard
• Rear deck
• Oversized lot

Tags

• REAR DECK
• DETACHED ONE CAR GARAGE
• OVERSIZED LOT
• LARGE YARD

Property features AI

Finance

• Financial info: Assessed improvement and land values recorded; Tax information available

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heating and hot water
• Home design: Semi-detached property; Average condition; Fee simple ownership
• Construction: Vinyl siding; Stone foundation; Architectural shingle roof; Built year per assessor
• Exterior features: Lot dimensions approximately 75 x 132; Not in a federal flood zone; Municipal trash service

Interior

• Bedrooms: Three bedrooms on the main level
• Flooring: Wood flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Baseboard hot water heating; Central air conditioning (electric)
• Interior features: Plaster and drywall walls/ceilings; Wood flooring; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.2% in Millville — 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 (#431 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: schools F, crime F, amenities F.
• Millville School District (suburban): math 6% / reading 28% proficiency, ranked #447 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 296 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• This rent runs 31% of the median local income ($67k/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.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; list at $165k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% 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 $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 1.07% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $303,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
333 Cedar St	0.14mi	3/2.5	1,487 (+6%)	4mo	$360,000	$242	79
525 W Main St	0.33mi	3/1.0	1,397 (-1%)	6mo	$275,000	$197	74
318 W Race St	0.10mi	3/2.0	1,232 (-13%)	8mo	$265,000	$215	68
309 S 2nd St	0.62mi	3/1.0	1,406 (-0%)	8mo	$190,000	$135	60
6 Fairfield Ave	0.63mi	3/2.0	1,335 (-5%)	4mo	$315,000	$236	58
17 Hillside Ave	0.55mi	4/1.5 (+1)	1,380 (-2%)	8mo	$300,000	$217	57
229 S 3rd	0.64mi	3/2.0	1,560 (+11%)	0mo	$223,000	$143	52
203 Patricia Ave	0.67mi	3/2.5	1,568 (+11%)	1mo	$349,500	$223	47
16 N 5th St N	0.72mi	3/1.0	1,312 (-7%)	5mo	$125,000	$95	47
535 Carlton Ave	0.63mi	4/2.0 (+1)	1,560 (+11%)	2mo	$350,000	$224	46
712 Cherry St	0.62mi	2/2.0 (-1)	1,200 (-15%)	2mo	$245,000	$204	40
408 4th St N	0.74mi	3/1.5	1,588 (+13%)	7mo	$130,000	$82	37

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-12,634
• Equity at exit: $24,587

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $2,126
• Equity at exit: $14,258

Cash invested: $46,172 (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 08332

• Home prices YoY: -28.9%
• Rents YoY: 1.9%
• Active inventory: 296
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$216 /mo · $2,592/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $250

Break-even live

Break-even rent $1,455

Max offer price $164,900

Occupancy floor 81%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 W Main St Millville, NJ	3.0	1.5	1265	$1,650	$1.30	43d	1	0.13mi
112 W Main St Unit B Millville, NJ	3.0	1.0	1384	$1,500	$1.08	43d	1	0.20mi

Listing history 10 events

1. 2026-06-03
   status $164,900 Pending 36 DOM
2. 2026-06-02
   days on market $164,900 Active 36 DOM
3. 2026-06-01
   days on market $164,900 Active 35 DOM
4. 2026-05-31
   days on market $164,900 Active 34 DOM
5. 2026-05-30
   days on market $164,900 Active 33 DOM
6. 2026-04-27
   listed $164,900 Active 1118-char remark
7. 2005-09-08
   soldstatus $82,000
8. 1999-09-24
   soldstatus $24,154
9. 1994-04-14
   soldstatus $38,000
10. 1991-10-11
    soldstatus $60,000

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $2,592 · $216/mo
• Projected year-2 tax: $3,349 · $279/mo
• Expected delta: +$757/yr (+$63/mo · 29.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,258
• − Mortgage interest: −$9,237
• − Property taxes: −$2,592
• − Insurance: −$824
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$4,797
• Taxable income: $406
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $2,903/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: Millville School District
• NCES district ID: 3410320
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $48,851
• Composite: 15.23/100
• National rank: #9338
• State rank: #447 of 472 in NJ

Livability — Millville

• Score: 63/100
• State rank: #431
• US rank: #15561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, NJ
• County: Cumberland County · 80,266 people
• City population: 35,228
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 35,228
• Household income: $67,496
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1761.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.45%
• Current HPI: 274.8011
• Rent YoY: ▲ 1.94%
• Metro: Vineland-Bridgeton, 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

+174.8% since first listed

6 events — show timeline

• 2026-06-02 Pending — BRIGHT MLS
• 2026-04-27 Listed $164,900 BRIGHT MLS
• 2005-09-08 Sold (Public Records) $82,000 Public Records
• 1999-09-24 Sold (Public Records) $24,154 Public Records
• 1994-04-14 Sold (Public Records) $38,000 Public Records
• 1991-10-11 Sold (Public Records) $60,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,592 · +3.3% YoY. Source: county tax records.