39-41 Mill St · Vincentown, NJ 08060

$399,000

16 bd · None ba · — sqft · MultiFamily · 149 Days on market

Built 1920 366 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

* * * Property is completely tenant occupied. Listing agent will be working with tenants to identify several dates in February 2026 for group showings. If interested in attending one of the group showings, please reach out to the listing agent for more information * * * Fully occupied 4-unit mixed-use property at 39-41 Mill St, Mount Holly, NJ, is listed for $399,000. It includes three residential apartments and one commercial space, boasting a strong rental history with long-term tenants and a CAP Rate exceeding 10%. Detailed P & L information for rental income and expenses is available. The property is sold "As-is" with tenants in place, making it a solid investment oppo

Key facts

• Built 1920
• Listed 148 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Multifamily property with a total of 4 units; Fee simple ownership
• Construction: Frame construction; Year built is estimated
• Exterior features: No tidal water on the lot; Other structures above grade

Interior

• Bedrooms: Two 1-bedroom units; One 2-bedroom unit
• Heating & cooling: Baseboard hot water heating; Natural gas heating and hot water
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/?-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $6k ($77k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $399k).
• Recommended offer: $351k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.6% vs local median 4.5% in Vincentown — 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 B — affects rentability + tenant quality, not the cash-flow math above.
• Rancocas Valley Regional High School District (suburban): math 29% / reading 49% proficiency, ranked #236 of 472 in NJ (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 134 active listings in the ZIP; solid renter incomes; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• At $11,606/mo this rent would consume 127% of the median local household income ($109k/yr) (locally 562% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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.
• Current owner paid $75k; list at $399k implies a 432% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $351,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.91% ✓
• Cap rate: 25.58%
• Cash-on-cash: 68.87%
• DSCR: 4.06
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 66.5%
• Equity multiple: 3.92×
• Total profit: $325,696
• Equity at exit: $59,492

10-year hold

• IRR: 70.3%
• Equity multiple: 7.61×
• Total profit: $737,918
• Equity at exit: $34,498

Cash invested: $111,720 (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 08060

• Home prices YoY: -34.5%
• Rents YoY: 1.4%
• Active inventory: 134
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $11,606 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,437
• Net cashflow: $6,411

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 40%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	—	$11,604
Total (4 units)			$11,606

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $399,000 Active 149 DOM
2. 2026-06-17
   days on market $399,000 Active 148 DOM
3. 2026-06-16
   days on market $399,000 Active 147 DOM
4. 2026-06-15
   days on market $399,000 Active 146 DOM
5. 2026-06-13
   days on market $399,000 Active 144 DOM
6. 2026-06-13
   days on market $399,000 Active 143 DOM
7. 2026-06-09
   days on market $399,000 Active 140 DOM
8. 2026-06-08
   days on market $399,000 Active 139 DOM
9. 2026-06-07
   days on market $399,000 Active 138 DOM
10. 2026-06-04
    days on market $399,000 Active 135 DOM
11. 2026-06-03
    days on market $399,000 Active 134 DOM
12. 2026-06-02
    days on market $399,000 Active 133 DOM
13. 2026-06-01
    days on market $399,000 Active 132 DOM
14. 2026-05-31
    days on market $399,000 Active 131 DOM
15. 2026-01-20
    listed $399,000 Active
16. 2013-06-29
    historical
17. 2012-06-29
    listed $279,000
18. 2011-06-06
    historical
19. 2010-04-04
    listed $299,000
20. 2009-12-12
    historical
21. 2008-09-12
    listed $274,900
22. 2008-08-26
    historical
23. 2008-02-26
    listed $375,000
24. 2008-01-30
    historical
25. 2007-03-05
    listed $299,000
26. 2006-11-01
    soldstatus $75,000
27. 2006-08-01
    historical
28. 2006-08-01
    listed $75,000

ⓘ 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: $139,272
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$11,142
• − Management: −$11,142
• − Depreciation: −$11,607
• Taxable income: $75,051
• Est. tax owed @ 24.0%: −$18,012
• After-tax cash flow: $58,924/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: Rancocas Valley Regional High School District
• NCES district ID: 3413620
• Math proficiency: 29% ▼ -18.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $58,992
• Composite: 34.45/100
• National rank: #5195
• State rank: #236 of 472 in NJ

Livability — Vincentown

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

Census & demographics

• County: Burlington County · 323,710 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 25,835
• Household income: $109,292
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 562.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 49% Black 25% Two or more races 15% Hispanic / Latino 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 1%
• Foreign-born: 11% · Canada, Dominican Republic, China
• Languages at home: 87% English-only · Spanish 7% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -156.50%
• Current HPI: 296.564
• Rent YoY: ▲ 1.42%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+432.0% since first listed

14 events — show timeline

• 2026-01-20 Listed $399,000 BRIGHT MLS
• 2013-06-29 Listing Removed — BRIGHT MLS
• 2012-06-29 Listed $279,000 BRIGHT MLS
• 2011-06-06 Listing Removed — BRIGHT MLS
• 2010-04-04 Listed $299,000 BRIGHT MLS
• 2009-12-12 Listing Removed — BRIGHT MLS
• 2008-09-12 Listed $274,900 BRIGHT MLS
• 2008-08-26 Listing Removed — BRIGHT MLS
• 2008-02-26 Listed $375,000 BRIGHT MLS
• 2008-01-30 Listing Removed — BRIGHT MLS
• 2007-03-05 Listed $299,000 BRIGHT MLS
• 2006-11-01 Sold (MLS) $75,000 BRIGHT MLS
• 2006-08-01 Listed $75,000 BRIGHT MLS
• 2006-08-01 Listing Removed — BRIGHT MLS