891B INVERNESS Ct Unit B · Leisure Village East, NJ 08701

$145,000

1 bd · 1.0 ba · 663 sqft · SingleFamily · 48 Days on market

Good condition $219/sqft · 9% below area Est $160k · 9% under $312/mo HOA · 18% 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 +16.3/30.0
• ARV discount +11.8/15.0
• 1% rule +7.2/10.0
• DSCR +5.0/10.0
• Condition / age +3.8/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 891 Inverness Court, Unit B -- the Eton model located in the desirable Leisure Village East, a gated 55+ community offering true resort-style living. This bright and sunny 1-bedroom, 1-bath home features an open-concept living and dining area, perfect for both relaxing and entertaining. Enjoy additional living space in the enclosed porch -- ideal for morning coffee or unwinding at the end of the day. Residents enjoy a wide range of amenities including a saltwater pool for ultimate relaxation, an active clubhouse with social events, a fitness center (minimal fee), a 9-hole golf course, scenic lake views, and a library. Conveniently located with easy access to the Garden State Parkway and Route 70, as well as nearby shopping, dining, and entertainment. Don't miss the o

Key facts

• Gated community
• Active clubhouse
• Fitness center

Tags

• GATED COMMUNITY
• SALTWATER POOL
• ACTIVE CLUBHOUSE
• FITNESS CENTER
• 9-HOLE GOLF COURSE
• SCENIC LAKE VIEWS

Property features AI

Finance

• Other: Lead paint form: Yes
• HOA & community: Monthly maintenance fee of $312; Leisure Village East community

Exterior

• Parking: Parking for 1 car; Other parking (see remarks)
• Security: Community security
• Utilities: Electric power
• Home design: Condo/Co-op (unit in Leisure Village East)
• Construction: Exterior finished with aluminum/vinyl and brick
• Exterior features: Aluminum/vinyl and brick exterior; Community amenities include community room, exercise room/health club, pool, and security; Pets not allowed

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: 1 bedroom (Level 1)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Refrigerator; Washer and Dryer; Electric oven/range; Central A/C
• Laundry & utility: Washer and Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $79 ($950/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.5% in Leisure Village East — 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 57/100 on livability (#518 in NJ) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing B+; Watch: cost of living C-, schools D-, amenities 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 33% 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 $1k 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

• It's been on market 48 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: major wind risk, 78% 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.22% ✓
• Cap rate: 6.95%
• Cash-on-cash: 2.34%
• DSCR: 1.10
• GRM: 6.9

CMA / ARV

• ARV (median comp): $160,136
• List price: $145,000
• Delta: -9.45%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
944F Aberdeen Dr	0.09mi	1/1.0	663 (0%)	4mo	$127,500	$192	92
949 Aberdeen Dr Unit B	0.06mi	1/1.0	663 (0%)	10mo	$135,200	$204	89
885A Inverness Ct	0.08mi	1/1.0	663 (0%)	11mo	$158,000	$238	87
1019A Aberdeen Dr	0.26mi	1/1.0	663 (0%)	4mo	$145,000	$219	85
1034 Aberdeen Dr Unit E	0.35mi	1/1.0	663 (0%)	8mo	$169,000	$255	77
1175D Clydebank Ct Unit D	0.60mi	1/1.0	663 (0%)	0mo	$117,500	$177	72
1118A Argyll Cir	0.29mi	1/1.0	663 (0%)	18mo	$155,000	$234	72
873C Balmoral Ct	0.35mi	1/1.0	663 (0%)	15mo	$150,000	$226	71
1244D Hamilton Ct	0.46mi	1/1.0	663 (0%)	12mo	$162,000	$244	69
875C Balmoral Ct	0.38mi	1/1.0	663 (0%)	18mo	$143,000	$216	67
1175C Clydebank Ct	0.59mi	1/1.0	663 (0%)	6mo	$102,500	$155	67
1257B Argyll Cir	0.53mi	1/1.0	663 (0%)	19mo	$150,000	$226	59

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-18,234
• Equity at exit: $21,620

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-8,495
• Equity at exit: $12,537

Cash invested: $40,600 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,764 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$312
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $79

Break-even live

Break-even rent $1,663

Max offer price $145,000

Occupancy floor 91%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
829A Balmoral Ct Unit 1001 Lakewood, NJ	1.0	1.0	663	$1,600	$2.41	25d	1	0.29mi

HOA detail

• Monthly dues: $312 · $3,744/yr
• Likely covers: waterpoolgymsecurity

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 48 DOM
2. 2026-06-17
   days on market $145,000 Active 47 DOM
3. 2026-06-16
   days on market $145,000 Active 46 DOM
4. 2026-06-15
   days on market $145,000 Active 45 DOM
5. 2026-06-13
   days on market $145,000 Active 43 DOM
6. 2026-06-13
   days on market $145,000 Active 42 DOM
7. 2026-06-09
   days on market $145,000 Active 39 DOM
8. 2026-06-08
   days on market $145,000 Active 38 DOM
9. 2026-06-07
   days on market $145,000 Active 37 DOM
10. 2026-06-04
    days on market $145,000 Active 34 DOM
11. 2026-06-03
    days on market $145,000 Active 33 DOM
12. 2026-06-02
    days on market $145,000 Active 32 DOM
13. 2026-06-01
    days on market $145,000 Active 31 DOM
14. 2026-05-31
    days on market $145,000 Active 30 DOM
15. 2026-05-01
    listed $145,000 Active 800-char remark

    Show marketing remark (800 chars)

    Welcome to 891 Inverness Court, Unit B -- the Eton model located in the desirable Leisure Village East, a gated 55+ community offering true resort-style living. This bright and sunny 1-bedroom, 1-bath home features an open-concept living and dining area, perfect for both relaxing and entertaining. Enjoy additional living space in the enclosed porch -- ideal for morning coffee or unwinding at the end of the day. Residents enjoy a wide range of amenities including a saltwater pool for ultimate relaxation, an active clubhouse with social events, a fitness center (minimal fee), a 9-hole golf course, scenic lake views, and a library. Conveniently located with easy access to the Garden State Parkway and Route 70, as well as nearby shopping, dining, and entertainment. Don't miss the o

16. 2026-05-01
    listed $145,000 Active 884-char remark

    Show marketing remark (800 chars)

    Welcome to 891 Inverness Court, Unit B -- the Eton model located in the desirable Leisure Village East, a gated 55+ community offering true resort-style living. This bright and sunny 1-bedroom, 1-bath home features an open-concept living and dining area, perfect for both relaxing and entertaining. Enjoy additional living space in the enclosed porch -- ideal for morning coffee or unwinding at the end of the day. Residents enjoy a wide range of amenities including a saltwater pool for ultimate relaxation, an active clubhouse with social events, a fitness center (minimal fee), a 9-hole golf course, scenic lake views, and a library. Conveniently located with easy access to the Garden State Parkway and Route 70, as well as nearby shopping, dining, and entertainment. Don't miss the o

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $21,163
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − HOA: −$3,744
• − Depreciation: −$4,218
• Taxable loss: −$1,207
• Est. tax savings @ 24.0%: +$290
• After-tax cash flow: $1,240/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 · 12 photos

Good 75/100 Cosmetic rehab

This 1-bedroom townhouse in Leisure Village East is in good condition with cosmetic updates needed to enhance its resale value.

Repairs flagged

• Major Appliances — Dated and possibly non-functional
• Major Bathroom fixtures — Dated and possibly non-functional

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace linoleum flooring — New flooring improves aesthetics
• Resale Upgrade kitchen appliances — Modern appliances attract more buyers
• Resale Replace bathroom fixtures — Modern fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Dated and possibly non-functional	Major	$15,000–50,000
Bathroom fixtures · Dated and possibly non-functional	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace linoleum flooring — New flooring improves aesthetics ↑
• Resale Upgrade kitchen appliances — Modern appliances attract more buyers ↑
• Resale Replace bathroom fixtures — Modern fixtures improve functionality and aesthetics ↑

ⓘ 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: 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 East

• Score: 57/100
• State rank: #518
• US rank: #22166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leisure Village East, 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

+0.0% since first listed

2 events — show timeline

• 2026-05-01 Listed $145,000 HCMLS
• 2026-05-01 Listed $145,000 MOMLS