33 Maryland Ave Unit A · Cedar Glen Lakes, NJ 08759

$150,000

2 bd · 1.0 ba · 1,222 sqft · SingleFamily · 5 Days on market

Built 1977 Good condition $446/mo HOA

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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 +19.6/30.0
• 1% rule +9.0/10.0
• ARV discount +7.6/15.0
• DSCR +6.2/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Cedar Glen Lakes, a Madison Duplex Basic with 2 bedrooms and 1 full bathroom with no stairs to gain entrance. Location location! Carefree at its best. Bring your buyers to this move in ready home and enjoy co-op living with one low monthly payment. This home offers 2 bedrooms and 1 bath, large living room and kitchen with a full appliance package, pantry, and Florida room. The primary and second bedroom both have walk-in closets! Outside is a private front porch with storage and a private back yard in a park like setting. The clubhouse offers a variety of planned activities for socializing & exercise. Close to shopping, banks, medical buildings, etc. with a community bus to

Key facts

• Private back yard
• Private front porch
• Walk-in closets

Tags

• PRIVATE FRONT PORCH
• WALK-IN CLOSETS
• FLORIDA ROOM
• PRIVATE BACK YARD

Property features AI

Finance

• HOA & community: Association: Cedar Glen Lakes; Monthly association fee; Association fee covers trash, common area, lawn maintenance, sewer, snow removal; Community amenities include exercise room, community room, landscaping, bocci

Exterior

• Parking: No garage spaces
• Utilities: Public sewer
• Home design: Cooperative ownership; Model: Madison Basic
• Exterior features: Shingle roof

Interior

• Kitchen: Electric cooking; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms — located on the first floor
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Baseboard heating; Electric cooling; Multiple cooling units
• Interior features: Ceiling fan(s); Fireplace (1); AC units included
• Laundry & utility: Washer included; Dryer included

🏢 Co-op / cooperative unit. The $150,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

Location & tenants

• Location reads 64/100 on livability (#406 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• 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; 2 comparable units currently listed for rent nearby; 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 $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 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; major 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 $150,000

Questions for the listing agent

1. Built in 1977 — 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 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. 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: 1.40% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.93%
• DSCR: 1.22
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $150,306
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Oregon Dr Unit B	0.04mi	2/1.0	1,222 (0%)	8mo	$120,000	$98	92
8 Maine Ave Unit A	0.24mi	2/1.0	1,222 (0%)	4mo	$150,000	$123	86
9 Oklahoma Way Unit A	0.31mi	2/1.0	1,222 (0%)	7mo	$135,000	$110	80
8A Alaska Ave	0.38mi	2/1.0	1,200 (-2%)	1mo	$148,000	$123	78
7 Roosevelt City Rd Unit B	0.50mi	2/1.0	1,222 (0%)	3mo	$142,000	$116	74
12 Vermont Way	0.40mi	2/1.5	1,200 (-2%)	3mo	$185,000	$154	74
10 Minnesota Ave Unit A	0.46mi	2/1.0	1,222 (0%)	9mo	$136,500	$112	71
7 Connecticut Dr Unit B	0.48mi	2/1.0	1,222 (0%)	8mo	$105,000	$86	71
4 Delaware Way Unit A	0.55mi	2/1.0	1,222 (0%)	8mo	$169,000	$138	67
11 Hawaii Way Unit B	0.41mi	2/1.0	1,100 (-10%)	3mo	$48,000	$44	62
50 Texas Blvd	0.46mi	2/1.0	1,344 (+10%)	8mo	$177,000	$132	55
53 Central Avenue 72	0.74mi	2/2.0	1,192 (-2%)	3mo	$160,000	$134	55

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-13,003
• Equity at exit: $22,365

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $4,080
• Equity at exit: $12,969

Cash invested: $42,000 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,095 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$446
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $173

Break-even live

Break-even rent $1,877

Max offer price $150,000

Occupancy floor 87%

Sensitivity live

Price	-10% $276	-5% $225	+0% $173	+5% $121	+10% $69
Rent	-10% $7	-5% $90	+0% $173	+5% $255	+10% $338
Rate	-1.0pp $248	-0.5pp $211	base $173	+0.5pp $134	+1.0pp $94

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Westport Dr #71 Whiting, NJ	2.0	1.0	1120	$2,200	$1.96	0d	1	1.17mi
49 Westport Dr #71 Whiting, NJ	2.0	1.5	1192	$1,995	$1.67	45d	1	1.19mi

HOA detail

• Monthly dues: $446 · $5,352/yr

Listing history 4 events

1. 2026-06-21
   days on market $150,000 Active 5 DOM
2. 2026-06-18
   days on market $150,000 Active 2 DOM
3. 2026-06-17
   remarks 695-char remark
4. 2026-06-17
   listed $150,000 Active 1 DOM

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,144
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − HOA: −$5,352
• − Depreciation: −$4,364
• Taxable income: $3
• Est. tax owed @ 24.0%: −$1
• After-tax cash flow: $2,071/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 80/100 Cosmetic rehab

This move-in ready home in Cedar Glen Lakes offers a good condition with minor cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace window screens — Improves comfort and energy efficiency
• Resale Update kitchen appliances — Modernizes the space and attracts buyers
• Resale Paint interior walls — Fresh paint enhances the home's appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace window screens — Improves comfort and energy efficiency ↑
• Resale Update kitchen appliances — Modernizes the space and attracts buyers ↑
• Resale Paint interior walls — Fresh paint enhances the home's appeal ↑

ⓘ 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 — Cedar Glen Lakes

• Score: 64/100
• State rank: #406
• US rank: #14186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Glen Lakes, NJ
• 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

• 2026-06-15 Listed $150,000 MOMLS