181 Cookstown New Egypt Rd Unit B37 · North Hanover, NJ 08562

$165,000

3 bd · 2.0 ba · 900 sqft · SingleFamily · 338 Days on market

Built 2016 Good condition Garage $183/sqft · 46% below area Est $308k · 46% under $600/mo HOA · 34% of rent ↓ 3% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +8.7/10.0
• 1% rule +5.5/10.0
• Cash flow +5.3/30.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Welcome to California Village! This spacious double-wide mobile home features 3 bedrooms and 2 full baths, offering comfort and convenience for the whole family. Enjoy an open floor plan that seamlessly connects the living room, dining area, and eat-in kitchen—perfect for everyday living and entertaining. The home has been recently updated with new flooring throughout and is in excellent, move-in-ready condition. Additional highlights include central air conditioning, a nice-sized yard for outdoor enjoyment, and driveway access on both sides of the home. Located in a well-maintained community with a lot fee of just $600/month.

Key facts

• 6 parking spots
• Built 2016
• Listed 337 days

🏷️ Possibly a rental listed for sale. The $165,000 price doesn't fit this home's estimated sale value (~$307,975) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-366 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (32.1% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $112k (32.1% below list) — sets the bar for cash-flow.
• Cap rate 3.6% vs local median 2.3% in North Hanover — 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 D — affects rentability + tenant quality, not the cash-flow math above.
• Northern Burlington County Regional School District (rural): math 27% / reading 57% proficiency, ranked #198 of 472 in NJ (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Clarence B. Lamb Elementary School (math 22% / reading 42%, grade F, #661 of 1,303 statewide, top 54%, 294 students, 32% FRL); Northern Burlington County Regional Middle School (math 27% / reading 56%, grade F, #182 of 431 statewide, top 43%, 703 students, 13% FRL); Northern Burlington County Regional High School (math 27% / reading 58%, grade F, #166 of 399 statewide, top 42%, 1,427 students, 13% FRL).
• Market conditions: 54 active listings in the ZIP; solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (7.3% local appreciation)).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 338 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $111,997 (32.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 338 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 3.63%
• Cash-on-cash: -9.51%
• DSCR: 0.58
• GRM: 7.9

CMA / ARV

• ARV (median comp): $307,975
• List price: $165,000
• Delta: -46.42%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
255 Cookstown New Egypt Rd	0.44mi	2/1.0 (-1)	960 (+7%)	22mo	$325,000	$339	41
282 Meany Rd	0.58mi	2/1.0 (-1)	1,066 (+18%)	1mo	$380,000	$356	38
A-11 Cookstown New Egypt Rd	0.84mi	2/1.0 (-1)	1,000 (+11%)	1mo	$65,000	$65	37
31 Cookstown New Egypt Rd	0.65mi	3/1.0	760 (-16%)	6mo	$120,000	$158	36
22 Twin Dr	0.93mi	2/1.0 (-1)	780 (-13%)	4mo	$315,000	$404	30
377 Jacobstown Cookstown Rd	1.01mi	2/1.0 (-1)	738 (-18%)	1mo	$277,000	$375	30
38 Maple Ave	0.87mi	2/1.0 (-1)	988 (+10%)	17mo	$270,000	$273	25
28 Oakford Ave	0.96mi	2/1.0 (-1)	1,064 (+18%)	11mo	$284,800	$268	22
21 Brindletown Rd	0.92mi	2/1.0 (-1)	1,040 (+16%)	21mo	$360,000	$346	13

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.82×
• Total profit: $38,110
• Equity at exit: $117,986

10-year hold

• IRR: 12.2%
• Equity multiple: 3.79×
• Total profit: $128,753
• Equity at exit: $227,503

Cash invested: $46,200 (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 →

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

Active competition Active MLS

• For sale now: 1 active · 6 under contract
• Months of supply: 1.2 mo (83%/mo absorbed)
• Median asking: $295,000 ($389/sqft)
• Median days on market: 39 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -12.0% vs current asking $/sqft

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

ZIP-level market 08562

• Home prices YoY: 2.5%
• Active inventory: 54
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,739 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$600
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-366

Break-even live

Break-even rent $2,203

Max offer price $111,997

Occupancy floor —

Sensitivity live

Price	-10% $-252	-5% $-309	+0% $-366	+5% $-423	+10% $-480
Rent	-10% $-504	-5% $-435	+0% $-366	+5% $-298	+10% $-229
Rate	-1.0pp $-283	-0.5pp $-324	base $-366	+0.5pp $-409	+1.0pp $-453

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: $41,250
• Closing costs: $4,950
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Fee simple ownershipLease not considered
• HOA & community: HOA fee $600 monthlyHOA covers snow removal and trash

Exterior

• Parking: Gravel drivewayDriveway parking for 6 vehicles (6 total garage/parking spaces)
• Utilities: Public waterPublic sewerNatural gas hot water
• Home design: Manufactured double-wide homeEstimated year built 2016 (major remodel/replace 2016)Flat roofSingle-story entry (main living on main level)
• Construction: Steel sidingCrawl space foundation
• Exterior features: Not in a federal flood zoneAbove-grade other structures

Interior

• Kitchen: Gas range/ovenRefrigeratorDishwasher
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooringFully carpeted areas
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (oil)Window air conditioning units (electric)
• Interior features: Very good conditionOther interior features
• Laundry & utility: WasherDryer

Listing history 50 events

1. 2026-11-04
   days on market $165,000 Active 338 DOM
2. 2026-11-02
   days on market $165,000 Active 336 DOM
3. 2026-11-01
   days on market $165,000 Active 335 DOM
4. 2026-10-31
   days on market $165,000 Active 334 DOM
5. 2026-10-30
   days on market $165,000 Active 333 DOM
6. 2026-10-29
   days on market $165,000 Active 332 DOM
7. 2026-10-28
   days on market $165,000 Active 331 DOM
8. 2026-10-27
   days on market $165,000 Active 330 DOM
9. 2026-10-26
   days on market $165,000 Active 329 DOM
10. 2026-10-25
    days on market $165,000 Active 328 DOM
11. 2026-10-24
    days on market $165,000 Active 327 DOM
12. 2026-10-23
    days on market $165,000 Active 326 DOM
13. 2026-10-22
    days on market $165,000 Active 325 DOM
14. 2026-10-21
    days on market $165,000 Active 324 DOM
15. 2026-10-20
    days on market $165,000 Active 323 DOM
16. 2026-10-19
    days on market $165,000 Active 322 DOM
17. 2026-10-18
    days on market $165,000 Active 321 DOM
18. 2026-10-17
    days on market $165,000 Active 320 DOM
19. 2026-10-16
    days on market $165,000 Active 319 DOM
20. 2026-10-15
    days on market $165,000 Active 318 DOM
21. 2026-10-14
    days on market $165,000 Active 317 DOM
22. 2026-10-13
    days on market $165,000 Active 316 DOM
23. 2026-10-12
    days on market $165,000 Active 315 DOM
24. 2026-10-11
    days on market $165,000 Active 314 DOM
25. 2026-10-10
    days on market $165,000 Active 313 DOM
26. 2026-10-09
    days on market $165,000 Active 312 DOM
27. 2026-10-08
    days on market $165,000 Active 311 DOM
28. 2026-10-07
    days on market $165,000 Active 310 DOM
29. 2026-10-06
    days on market $165,000 Active 309 DOM
30. 2026-10-05
    days on market $165,000 Active 308 DOM
31. 2026-10-04
    days on market $165,000 Active 307 DOM
32. 2026-10-03
    days on market $165,000 Active 306 DOM
33. 2026-10-02
    days on market $165,000 Active 305 DOM
34. 2026-10-01
    days on market $165,000 Active 304 DOM
35. 2026-09-30
    days on market $165,000 Active 303 DOM
36. 2026-09-29
    days on market $165,000 Active 302 DOM
37. 2026-09-28
    days on market $165,000 Active 301 DOM
38. 2026-09-27
    days on market $165,000 Active 300 DOM
39. 2026-09-26
    days on market $165,000 Active 299 DOM
40. 2026-09-25
    days on market $165,000 Active 298 DOM
41. 2026-09-24
    days on market $165,000 Active 297 DOM
42. 2026-09-23
    days on market $165,000 Active 296 DOM
43. 2026-09-22
    days on market $165,000 Active 295 DOM
44. 2026-09-21
    days on market $165,000 Active 294 DOM
45. 2026-09-20
    days on market $165,000 Active 293 DOM
46. 2026-09-19
    days on market $165,000 Active 292 DOM
47. 2026-09-18
    days on market $165,000 Active 291 DOM
48. 2026-09-17
    days on market $165,000 Active 290 DOM
49. 2026-09-16
    days on market $165,000 Active 289 DOM
50. 2026-09-15
    days on market $165,000 Active 288 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,871
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − HOA: −$7,200
• − Depreciation: −$4,800
• Taxable loss: −$7,011
• Est. tax savings @ 24.0%: +$1,683
• After-tax cash flow: $-2,713/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 · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $4,500–$13,500 screening

This move-in-ready mobile home is in good condition with minor updates needed to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — The cabinets appear dated and could be replaced for a fresh look.
• Minor bathroom paint — The paint in the bathrooms appears slightly worn and could be refreshed.
• Minor landscaping — The yard could benefit from some updates to enhance curb appeal.

Value-add opportunities

• Resale Replace kitchen cabinets — Updating the dated cabinets will enhance the home's appeal and value. ↑
• Resale Refresh bathroom paint — Refreshing the paint in the bathrooms will improve the home's overall appearance and value. ↑
• Both Update landscaping — Updating the landscaping will enhance the home's curb appeal and potentially increase its value. ↑

ⓘ 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 36/100

Zoned Schools

Elementary New Hanover Township School F NJ #878/1,303 Nat'l #30,133/41,679 Middle Northern Burlington County Regional Middle School F NJ #182/431 Nat'l #5,602/14,009 High Northern Burlington County Regional High School F NJ #166/399 Nat'l #7,501/17,239

Schools (NCES district)

• District: Northern Burlington County Regional School District
• NCES district ID: 3411700
• Math proficiency: 27% ▼ -22.00%
• Reading proficiency: 57% ▼ -10.00%
• Median HH income: $82,110
• Composite: 39.1/100
• National rank: #4042
• State rank: #198 of 472 in NJ

Livability — North Hanover

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

Census & demographics

• County: Burlington · 453,425 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 4,301
• Household income: $89,766
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 32% of renters

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Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Two or more races 22% Hispanic / Latino 15% Black 6%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Languages at home: 84% English-only · Spanish 12% Russian/Polish/Slavic 2% Tagalog/Filipino 1%

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Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.34%
• Current HPI: 306.1085
• 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

Property features AI

Finance

• Other: Fee simple ownershipLease not considered
• HOA & community: HOA fee $600 monthlyHOA covers snow removal and trash

Exterior

• Parking: Gravel drivewayDriveway parking for 6 vehicles (6 total garage/parking spaces)
• Utilities: Public waterPublic sewerNatural gas hot water
• Home design: Manufactured double-wide homeEstimated year built 2016 (major remodel/replace 2016)Flat roofSingle-story entry (main living on main level)
• Construction: Steel sidingCrawl space foundation
• Exterior features: Not in a federal flood zoneAbove-grade other structures

Interior

• Kitchen: Gas range/ovenRefrigeratorDishwasher
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooringFully carpeted areas
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (oil)Window air conditioning units (electric)
• Interior features: Very good conditionOther interior features
• Laundry & utility: WasherDryer

Price history

-2.9% since first listed

3 events — show timeline

• 2026-04-14 Price Changed $165,000 BRIGHT MLS
• 2025-12-02 Listed $170,000 BRIGHT MLS
• 2025-11-30 Coming Soon $170,000 BRIGHT MLS