408-410 Sheridan Ave · Paulsboro, NJ 08066

$300,000

4 bd · 0.0 ba · 1,680 sqft · MultiFamily · 24 Days on market

Built 1968 Fair condition 6,050 sqft lot Est $218k · 37% over

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Best Buy in Billingsport! Ideal opportunity for the owner-occupant or investor looking for the smart way to get the most out of residential home ownership. Whether you call it "house-hacking" or by any another name, the concept has been around forever; purchase a property that you can live in while collecting income from the other unit. You'll be able to do that here as the property currently has two vacant units. This is an efficient money maker for the Buyer who wants to own investment real estate the right way.

Key facts

• 6,050 sq ft lot
• 4 parking spots
• Built 1968

Property features AI

Finance

• Financial info: Ownership: Fee simple; Gross income reported as $150,000; Total actual rent reported as $15,000; Existing lease type: Month-to-month

Exterior

• Parking: Four driveway spaces; On-street parking available; Total of 4 garage/parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached structure; Above-grade finished area reported as 1,680 (assessor)
• Construction: Frame construction; Block foundation; Above-grade and below-grade other structures
• Exterior features: Lot dimensions approximately 55 x 110

Interior

• Bedrooms: Two 2-bedroom units (multi-unit property)
• Heating & cooling: Forced air heating; Central air conditioning; Hot water: Electric
• Interior features: Full unfinished basement; Living area value from assessor

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $296k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.1% in Paulsboro — 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 62/100 on livability (#445 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Paulsboro School District (suburban): math 5% / reading 26% proficiency, ranked #455 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 57 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• At $3,754/mo this rent would consume 69% of the median local household income ($65k/yr) (locally 304% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Gloucester 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 + 3.0% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($296k) 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, 27% 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 $295,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.25% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $218,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
644 N Delaware St	0.41mi	4/2.0	1,816 (+8%)	1mo	$236,900	$130	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: 2.6%
• Equity multiple: 1.10×
• Total profit: $8,283
• Equity at exit: $44,731

10-year hold

• IRR: 12.1%
• Equity multiple: 1.96×
• Total profit: $80,632
• Equity at exit: $25,939

Cash invested: $84,000 (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 08066

• Home prices YoY: -19.0%
• Active inventory: 57
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $3,754 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $892

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,100	-5% $996	+0% $892	+5% $789	+10% $685
Rent	-10% $596	-5% $744	+0% $892	+5% $1,041	+10% $1,189
Rate	-1.0pp $1,044	-0.5pp $969	base $892	+0.5pp $815	+1.0pp $736

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,754
Total (2 units)			$3,754

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Greenwich Ave Paulsboro, NJ	4.0	1.5	1200	$2,500	$2.08	2d	1	0.27mi
226 Greenwich Ave Paulsboro, NJ	3.0	1.0	1100	$2,300	$2.09	25d	1	0.27mi
108 W Buck St Paulsboro, NJ	5.0	1.0	1344	$1,900	$1.41	25d	1	0.93mi
231 Thomson Ave Unit 1 Paulsboro, NJ	4.0	1.0	1600	$2,400	$1.50	24d	1	1.08mi

Listing history 5 events

1. 2026-05-16
   status Pending
2. 2026-05-05
   status Active
3. 2026-03-30
   historical Active Under Contract
4. 2026-03-18
   listed $300,000 Active
5. 2026-03-05
   historical $300,000

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,048
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,604
• − Management: −$3,604
• − Depreciation: −$8,727
• Taxable income: $6,308
• Est. tax owed @ 24.0%: −$1,514
• After-tax cash flow: $9,195/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 · 3 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations, including landscaping and painting, to improve its curb appeal and increase its value.

Repairs flagged

• Major Landscaping — The yard is overgrown and in need of significant work
• Minor Fencing — The fencing appears to be in good condition

Value-add opportunities

• Both Landscaping — A well-maintained yard can increase both resale and rental value
• Both Paint exterior — Fresh paint can improve the curb appeal and value of the property

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · The yard is overgrown and in need of significant work	Major	$15,000–50,000
Fencing · The fencing appears to be in good condition	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Landscaping — A well-maintained yard can increase both resale and rental value ↑
• Both Paint exterior — Fresh paint can improve the curb appeal and value of the property ↑

ⓘ 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: Paulsboro School District
• NCES district ID: 3412720
• Math proficiency: 5% ▼ -9.00%
• Reading proficiency: 26% ▲ 3.00%
• Median HH income: $43,261
• Composite: 13.46/100
• National rank: #9521
• State rank: #455 of 472 in NJ

Livability — Paulsboro

• Score: 62/100
• State rank: #445
• US rank: #16559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paulsboro, NJ
• County: Gloucester County · 160,422 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 7,760
• Household income: $65,070
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 304.0

Population outlook (Gloucester County) Hauer SSP2

• Today (2025): 298,895 people
• By 2030: 299,031 · +0.0%
• By 2040: 294,020 · -1.6%
• By 2050: 284,188 · -4.9%
• By 2075: 260,720 · -12.8%
• By 2100: 229,565 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Black 30% Hispanic / Latino 16% Two or more races 14%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10%
• Common ancestry: Romanian 6% Serbian 3% Armenian 2%
• Foreign-born: 4% · Canada, Dominican Republic
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Gloucester

• 2024 margin: Toss-up / Even · D 47.8% · R 50.6% · Other 1.6%
• 2008→2024 swing: -15.0pp toward R · 2008: 12.2pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+1.9 2016: R+0.4 2012: D+10.5 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.33%
• Current HPI: 337.4363
• Rent YoY: —
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-16 Pending — BRIGHT MLS
• 2026-05-05 Relisted — BRIGHT MLS
• 2026-03-30 Contingent — BRIGHT MLS
• 2026-03-18 Listed $300,000 BRIGHT MLS
• 2026-03-05 Coming Soon $300,000 BRIGHT MLS