1244 Garry Ave · Vineland, NJ 08361

$245,000

6 bd · 4.0 ba · 1,728 sqft · MultiFamily public records · 170 Days on market

Built 1955 0.53 ac 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
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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 MLS

No rental info-used w/ in family. Many improvements & updates, call for details. Appliances/furniture negotiable. Unit 1 has oil radiant heat, Unit 2 has electric heat. Separate utility rooms. Undergrnd tank not used since 1980.

Key facts

• 0.53 acre lot
• 6 parking spots
• Built 1955

Property features AI

Finance

• Other: Building has 1 total unit listed in building info; Above-grade finished area approximately 1,728
• Financial info: Existing leases may be long-term, yearly, or month-to-month; Two units currently leased, two units vacant

Exterior

• Parking: Total of 6 parking spaces; Driveway with 3 spaces; 3 off-street spaces
• Utilities: Public water; On-site septic
• Home design: Semi-detached structure; Fee simple ownership
• Construction: Foundation: Other; Building not winterized
• Exterior features: Lot dimensions approximately 100 x 231; No tidal water; Other above- and below-grade structures noted

Interior

• Bedrooms: One 1‑bedroom unit; One 2‑bedroom unit
• Heating & cooling: Heating: Other; Heating fuel: Oil and Electric; Electric hot water
• Interior features: Two or more access exits

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $576/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 4.5% in Vineland — 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 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Vineland Public School District (urban): math 9% / reading 34% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 87 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% 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 $69k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $245k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% chance of damaging wind over 30y; moderate 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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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 1955 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.51% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.13%
• DSCR: 1.90
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 12.4%
• Equity multiple: 1.49×
• Total profit: $33,714
• Equity at exit: $36,530

10-year hold

• IRR: 21.3%
• Equity multiple: 2.81×
• Total profit: $124,186
• Equity at exit: $21,183

Cash invested: $68,600 (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 08361

• Active inventory: 87
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $3,704 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$388 /mo · $4,659/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$778
• Net cashflow: $1,151

Break-even live

Break-even rent $2,247

Max offer price $245,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,290	-5% $1,220	+0% $1,151	+5% $1,082	+10% $1,012
Rent	-10% $858	-5% $1,005	+0% $1,151	+5% $1,297	+10% $1,444
Rate	-1.0pp $1,274	-0.5pp $1,213	base $1,151	+0.5pp $1,088	+1.0pp $1,023

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,704
Total (2 units)			$3,704

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $245,000 Active 170 DOM
2. 2026-06-18
   status $245,000 Active 169 DOM
3. 2026-06-07
   status $245,000 Pending 169 DOM
4. 2026-05-18
   historical Active Under Contract
5. 2026-03-12
   price $245,000
6. 2025-12-01
   listed $265,000 Active
7. 2025-11-17
   historical $265,000
8. 2003-10-30
   soldstatus $95,000 234-char remark

   Show marketing remark (234 chars)

   No rental info-used w/ in family. Many improvements & updates, call for details. Appliances/furniture negotiable. Unit 1 has oil radiant heat, Unit 2 has electric heat. Separate utility rooms. Undergrnd tank not used since 1980.

9. 2003-10-03
   soldstatus $95,000
10. 2003-04-07
    historical 234-char remark

    Show marketing remark (234 chars)

    No rental info-used w/ in family. Many improvements & updates, call for details. Appliances/furniture negotiable. Unit 1 has oil radiant heat, Unit 2 has electric heat. Separate utility rooms. Undergrnd tank not used since 1980.

11. 2003-04-01
    listed $99,700 234-char remark

    Show marketing remark (234 chars)

    No rental info-used w/ in family. Many improvements & updates, call for details. Appliances/furniture negotiable. Unit 1 has oil radiant heat, Unit 2 has electric heat. Separate utility rooms. Undergrnd tank not used since 1980.

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $4,659 · $388/mo
• Projected year-2 tax: $5,380 · $448/mo
• Expected delta: +$721/yr (+$60/mo · 15.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,448
• − Mortgage interest: −$13,724
• − Property taxes: −$4,659
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,556
• − Management: −$3,556
• − Depreciation: −$7,127
• Taxable income: $10,601
• Est. tax owed @ 24.0%: −$2,544
• After-tax cash flow: $11,268/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: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• City population: 45,038
• Population (ZIP): 18,375

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 13% Black 10% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 20% Dominican 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 9% · Canada
• Languages at home: 75% English-only · Spanish 16% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.80%
• Current HPI: 291.3404
• 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

+145.7% since first listed

8 events — show timeline

• 2026-05-18 Contingent — BRIGHT MLS
• 2026-03-12 Price Changed $245,000 BRIGHT MLS
• 2025-12-01 Listed $265,000 BRIGHT MLS
• 2025-11-17 Coming Soon $265,000 BRIGHT MLS
• 2003-10-30 Sold (MLS) $95,000 SJSRMLS
• 2003-10-03 Sold (Public Records) $95,000 Public Records
• 2003-04-07 Listing Removed — SJSRMLS
• 2003-04-01 Listed $99,700 SJSRMLS

Property tax history

+3.2%/yr

Latest (2025): $4,659 · +3.9% YoY. Source: county tax records.