126 Centura

Cherry Hill, NJ 08003

$210,000D-

2 bd · 1.5 ba · 1,574 sqft · Built 1980 · Condo · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,990/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$596
• HOA: −$990
• Vac / Maint / Mgmt: −$628
• Net cashflow: $-325/mo
• Annual: $-3,905/yr
• Cap rate: 4.43%
• Cash-on-cash: -6.64%
• DSCR: 0.70
• 1% rule: 1.42%
• Cash to close: $58,800

Investor read

• This is a 2-bed/1.5-bath condo listed at $210k.
• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (27.4% below list).
• Meets the 1% rule at list price ($3k rent vs $210k).
• It's been on market 64 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (27.4% below list) — sets the bar for cash-flow.
• 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.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 2.9% of price; HOA is 33% of rent.
• Market conditions: 145 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 20y 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.

Questions for listing agent

• 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?
• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?