1C Sparrow St · Manchester, NJ 08759

$83,000

1 bd · 1.0 ba · 970 sqft · SingleFamily · 180 Days on market

55+ age-restricted Built 1970 Good condition $470/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 +21.9/30.0
• ARV discount +13.8/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Cedar Glen West, a peaceful 55+ co-op community offering comfort, convenience, and carefree living. This freshly painted 1-bedroom, 1-bath home features a BRAND NEW AIR CONDITION UNIT BRAND NEW HEATING SYSTEM AND BRAND NEW WATER HEATER beautiful hardwood floors throughout, Updated Windows and a newly paved driveway. Enjoy a serene lifestyle just minutes from swimming lakes with lifeguards and a short drive to Atlantic City. The monthly HOA fee includes property taxes, water, sewer, trash, lawn maintenance, snow removal, furnace and hot water heater repairs, roof maintenance, and gutter cleaning--providing true worry-free living. A community bus offers easy transportation to nearby shopping centers. Buyer must be approved by Cedar Glen West.

Key facts

• Swimming lakes
• Newly paved driveway
• Updated windows

Tags

• CO-OP COMMUNITY
• HARDWOOD FLOORS
• UPDATED WINDOWS
• NEWLY PAVED DRIVEWAY
• SWIMMING LAKES

🏢 Co-op / cooperative unit. The $83,000 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 1-bed/1.0-bath single-family listed at $83k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $83k).
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.8% in Manchester — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Manchester Township Elementary School (math 22% / reading 46%, grade F, #642 of 1,303 statewide, top 50%, 514 students, 45% 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) — zoned schools average 42% FRL vs 23% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 891 active listings in the ZIP; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/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 $574 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.02% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.40%
• DSCR: 1.64
• GRM: 4.1

CMA / ARV

• ARV (median comp): $96,576
• List price: $83,000
• Delta: -14.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Flamingo Ter Unit A	0.09mi	1/1.0	970 (0%)	6mo	$45,000	$46	91
12 Heron St Unit D	0.13mi	1/1.0	980 (+1%)	3mo	$120,000	$122	90
5 Blue Jay St Unit A	0.12mi	1/1.0	970 (0%)	5mo	$53,000	$55	90
17 Heron St Unit D	0.12mi	1/1.0	970 (0%)	6mo	$55,000	$57	90
16 B Dove St	0.21mi	1/1.0	970 (0%)	2mo	$73,000	$75	88
18 Dove St Unit A	0.21mi	1/1.0	970 (0%)	7mo	$69,900	$72	84
6 Dove St Unit D	0.30mi	1/1.0	970 (0%)	4mo	$80,000	$82	82
22 C Robin St	0.24mi	2/1.0 (+1)	970 (0%)	4mo	$158,000	$163	80
6 C Swallow St	0.27mi	2/1.0 (+1)	970 (0%)	4mo	$110,000	$113	79
9 D Dove St Unit D	0.30mi	2/1.0 (+1)	970 (0%)	7mo	$57,500	$59	75
2C Dove St	0.33mi	2/1.0 (+1)	970 (0%)	8mo	$78,000	$80	73
13B Pheasant St	0.46mi	2/1.0 (+1)	1,100 (+13%)	2mo	$95,500	$87	50

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $4,630
• Equity at exit: $12,376

10-year hold

• IRR: 14.8%
• Equity multiple: 2.21×
• Total profit: $28,184
• Equity at exit: $7,176

Cash invested: $23,240 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 19 active · 3 under contract
• Months of supply: 14.2 mo (7%/mo absorbed)
• Median asking: $93,000 ($99/sqft)
• Median days on market: 61 d
• This list price: 26% of active listings are priced below it
• ARV vs active asking: +0.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 08759

• Active inventory: 891
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,674 medium
• Mortgage (P&I): −$435
• Tax est. 1.5%: −$104 /mo · $1,245/yr
• Insurance: −$35
• HOA: −$470
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $279

Break-even live

Break-even rent $1,321

Max offer price $83,000

Occupancy floor 78%

Sensitivity live

Price	-10% $336	-5% $308	+0% $279	+5% $250	+10% $222
Rent	-10% $147	-5% $213	+0% $279	+5% $345	+10% $411
Rate	-1.0pp $321	-0.5pp $300	base $279	+0.5pp $257	+1.0pp $236

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: $20,750
• Closing costs: $2,490
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $470/mo · $5,640/yr

• Likely covers: watersewertrashsnow removalroof

Listing history 1 events

1. 2025-11-27
   listed $83,000 Active 762-char remark

   Show marketing remark (762 chars)

   Welcome to Cedar Glen West, a peaceful 55+ co-op community offering comfort, convenience, and carefree living. This freshly painted 1-bedroom, 1-bath home features a BRAND NEW AIR CONDITION UNIT BRAND NEW HEATING SYSTEM AND BRAND NEW WATER HEATER beautiful hardwood floors throughout, Updated Windows and a newly paved driveway. Enjoy a serene lifestyle just minutes from swimming lakes with lifeguards and a short drive to Atlantic City. The monthly HOA fee includes property taxes, water, sewer, trash, lawn maintenance, snow removal, furnace and hot water heater repairs, roof maintenance, and gutter cleaning--providing true worry-free living. A community bus offers easy transportation to nearby shopping centers. Buyer must be approved by Cedar Glen West.

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $20,089
• − Mortgage interest: −$4,649
• − Property taxes: −$1,245
• − Insurance: −$415
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − HOA: −$5,640
• − Depreciation: −$2,415
• Taxable income: $2,511
• Est. tax owed @ 24.0%: −$603
• After-tax cash flow: $2,745/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 Est. rehab $4,850–$14,550 screening

This 1-bedroom, 1-bath home in Cedar Glen West is in good condition with recent updates and a peaceful community setting.

Value-add opportunities

• Resale paint exterior — enhances curb appeal ↑
• Resale update landscaping — improves curb appeal ↑
• Both install new windows — increases natural light and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Manchester Township Elementary School F NJ #642/1,303 Nat'l #24,299/41,679 Middle Manchester Township Middle School F NJ #226/431 Nat'l #7,065/14,009 High Manchester Township High School F NJ #290/399 Nat'l #11,215/17,239

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 — Manchester

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Cedar Glen West, NJ
• County: Ocean · 586,991 people
• Metro: New York-Newark-Jersey City, NY-NJ
• Population (ZIP): 34,290
• Household income: $55,000
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 11% of renters

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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%

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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%

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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

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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

• 2025-11-27 Listed $83,000 MOMLS