479 Dartmoor Ct Unit B · Leisure Village, NJ 08701

$127,900

1 bd · 1.0 ba · 663 sqft · SingleFamily · 7 Days on market

Built 1969 435 sqft lot Est $130k · at est. $372/mo HOA · 20% of rent

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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 +21.2/30.0
• 1% rule +9.3/10.0
• ARV discount +8.2/15.0
• DSCR +6.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy this Eton model featuring all laminate flooring, newer windows, BRAND NEW front and back storm doors. Bedroom has 2 large closets. Kitchen offers a BRAND NEW stove, and refrigerator, Spacious living room leads to an enclosed back porch which is carpeted and also has storage closet. Move-in condition!

Key facts

• Parking
• Pool
• Built 1969

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Cap rate 8.0% vs local median 6.0% in Leisure 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 64/100 on livability (#416 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B; Watch: schools D, amenities F, commute 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.
• Market conditions: 419 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 34% 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 $884 of loan paydown is wiped out by about $4k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• 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 $127,900

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.43% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $129,948
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
479 Dartmoor Ct Unit B	0.00mi	1/1.0	663 (0%)	0mo	$133,000	$201	100
533 Dartmoor Ct Unit F	0.08mi	1/1.0	663 (0%)	1mo	$103,000	$155	95
474E Thornbury Ct	0.10mi	1/1.0	663 (0%)	9mo	$124,000	$187	88
474F Thornbury Ct	0.10mi	1/1.0	663 (0%)	9mo	$110,000	$166	88
472B Thornbury Ct	0.13mi	1/1.0	663 (0%)	10mo	$135,000	$204	86
434F Portsmouth Dr	0.28mi	1/1.0	663 (0%)	2mo	$149,000	$225	85
161A Gramercy Ct	0.43mi	1/1.0	663 (0%)	1mo	$130,000	$196	79
434 Portsmouth Dr Unit E	0.27mi	1/1.0	663 (0%)	13mo	$132,000	$199	76
160D Gramercy Ct	0.43mi	1/1.0	670 (+1%)	2mo	$123,000	$184	76
318 Coventry Ct	0.50mi	1/1.0	663 (0%)	3mo	$125,000	$189	74
303A W Malvern Ct	0.53mi	1/1.0	663 (0%)	2mo	$127,000	$192	74
318C Coventry Ct	0.50mi	1/1.0	663 (0%)	15mo	$149,900	$226	64

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-8,701
• Equity at exit: $19,070

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $8,617
• Equity at exit: $11,058

Cash invested: $35,812 (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 08701

• Active inventory: 419
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,824 medium
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,918/yr
• Insurance: −$53
• HOA: −$372
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $185

Break-even live

Break-even rent $1,590

Max offer price $127,900

Occupancy floor 85%

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 Buckingham Ct Lakewood, NJ	1.0	1.0	663	$1,900	$2.87	43d	1	0.41mi

HOA detail

• Monthly dues: $372 · $4,464/yr

Listing history 8 events

1. 2026-04-24
   status Pending
2. 2026-04-17
   listed $127,900 Active
3. 2026-04-10
   price $127,900
4. 2026-02-26
   status Active
5. 2026-01-23
   status Pending
6. 2025-12-15
   listed $129,900 Active
7. 2000-03-02
   historical
8. 1999-08-02
   listed $32,900

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 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: $21,883
• − Mortgage interest: −$7,164
• − Property taxes: −$1,918
• − Insurance: −$640
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − HOA: −$4,464
• − Depreciation: −$3,721
• Taxable income: $475
• Est. tax owed @ 24.0%: −$114
• After-tax cash flow: $2,103/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: 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

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 · 439,426 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: 5757.0

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 (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%

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

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

+288.8% since first listed

8 events — show timeline

• 2026-04-24 Pending — MOMLS
• 2026-04-17 Listed $127,900 MOMLS
• 2026-04-10 Price Changed $127,900 MOMLS
• 2026-02-26 Relisted — MOMLS
• 2026-01-23 Pending — MOMLS
• 2025-12-15 Listed $129,900 MOMLS
• 2000-03-02 Listing Removed — BRIGHT MLS
• 1999-08-02 Listed $32,900 BRIGHT MLS