244 N Broad St · Carneys Point, NJ 08069

$125,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 164 Days on market

Built 1950 3,485 sqft lot $167/sqft · 20% below area Est $156k · 20% under

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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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime investor value add. Shell property with electric in place, offering a blank slate for a full renovation and strong upside potential. Seller prefers to sell with the adjacent property (242 N Broad) for expanded opportunity. Sold as is. Do not enter without confirmed appointment. Hold harmless required prior to entry.

Key facts

• 3,485 sq ft lot
• Built 1950
• Listed 163 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $6 ($68/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 5.1% in Carneys Point — 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 57/100 on livability (#515 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing B+; Watch: employment C-, schools D-, amenities F.
• Penns Grove-Carneys Point Regional School District (suburban): math 6% / reading 21% proficiency, ranked #462 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 101 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $20k; list at $125k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 1.47% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.82%
• DSCR: 1.66
• GRM: 5.7

CMA / ARV

• ARV (median comp): $156,161
• List price: $125,000
• Delta: -19.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 N Broad St	0.42mi	2/1.0	750 (+0%)	4mo	$161,000	$215	76
142 N Dolbow Ave	0.49mi	2/1.0	714 (-4%)	4mo	$213,000	$298	66

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-19,507
• Equity at exit: $18,638

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-14,948
• Equity at exit: $10,808

Cash invested: $35,000 (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 08069

• Home prices YoY: -18.8%
• Active inventory: 101
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,841 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$315 /mo · $3,774/yr
• Insurance: −$52
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $6

Break-even live

Break-even rent $1,834

Max offer price $125,000

Occupancy floor 95%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $125,000 Active 164 DOM
2. 2026-06-17
   days on market $125,000 Active 163 DOM
3. 2026-06-16
   days on market $125,000 Active 162 DOM
4. 2026-06-15
   days on market $125,000 Active 161 DOM
5. 2026-06-13
   days on market $125,000 Active 159 DOM
6. 2026-06-09
   days on market $125,000 Active 155 DOM
7. 2026-06-08
   days on market $125,000 Active 154 DOM
8. 2026-06-07
   days on market $125,000 Active 153 DOM
9. 2026-06-04
   days on market $125,000 Active 150 DOM
10. 2026-06-03
    days on market $125,000 Active 149 DOM
11. 2026-06-02
    days on market $125,000 Active 148 DOM
12. 2026-06-01
    days on market $125,000 Active 147 DOM
13. 2026-05-31
    days on market $125,000 Active 146 DOM
14. 2026-01-06
    listed $125,000 Active 323-char remark

    Show marketing remark (323 chars)

    Prime investor value add. Shell property with electric in place, offering a blank slate for a full renovation and strong upside potential. Seller prefers to sell with the adjacent property (242 N Broad) for expanded opportunity. Sold as is. Do not enter without confirmed appointment. Hold harmless required prior to entry.

15. 2025-12-24
    historical $125,000 323-char remark

    Show marketing remark (323 chars)

    Prime investor value add. Shell property with electric in place, offering a blank slate for a full renovation and strong upside potential. Seller prefers to sell with the adjacent property (242 N Broad) for expanded opportunity. Sold as is. Do not enter without confirmed appointment. Hold harmless required prior to entry.

16. 2021-06-30
    soldstatus $20,000 Closed 436-char remark

    Show marketing remark (436 chars)

    Calling all investors! This house has been cleaned out, and framing started. Rancher is ready for you to make it a home again! It has 2 bedrooms, and a full bath. Basement is full and unfinished. Nice yard, perfect for family bbq's. Property is being sold as is, where is. Buyer responsible for obtaining the certificate of occupancy. Buyer to assume SunRun Solar panel lease agreement (in documents). This home is not in a flood zone.

17. 2021-05-28
    historical 436-char remark

    Show marketing remark (436 chars)

    Calling all investors! This house has been cleaned out, and framing started. Rancher is ready for you to make it a home again! It has 2 bedrooms, and a full bath. Basement is full and unfinished. Nice yard, perfect for family bbq's. Property is being sold as is, where is. Buyer responsible for obtaining the certificate of occupancy. Buyer to assume SunRun Solar panel lease agreement (in documents). This home is not in a flood zone.

18. 2021-05-28
    listed $27,777 436-char remark

    Show marketing remark (436 chars)

    Calling all investors! This house has been cleaned out, and framing started. Rancher is ready for you to make it a home again! It has 2 bedrooms, and a full bath. Basement is full and unfinished. Nice yard, perfect for family bbq's. Property is being sold as is, where is. Buyer responsible for obtaining the certificate of occupancy. Buyer to assume SunRun Solar panel lease agreement (in documents). This home is not in a flood zone.

19. 2020-12-28
    status Pending
20. 2020-12-28
    historical
21. 2020-12-06
    listed $27,777 Active
22. 2020-02-21
    soldstatus $10,001 Closed
23. 2020-01-20
    status Pending
24. 2019-12-23
    price $10,000
25. 2019-10-15
    listed $19,900 Active
26. 2008-08-29
    soldstatus $51,000
27. 2000-12-18
    soldstatus $15,000
28. 2000-02-02
    listed $15,000
29. 2000-01-20
    historical
30. 1999-10-06
    listed $39,900
31. 1995-02-23
    soldstatus $40,000
32. 1991-12-02
    soldstatus $9,000

ⓘ 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: $3,774 · $315/mo
• Projected year-2 tax: $3,774 · $315/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,091
• − Mortgage interest: −$7,002
• − Property taxes: −$3,774
• − Insurance: −$5,744
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$3,636
• Taxable loss: −$1,599
• Est. tax savings @ 24.0%: +$384
• After-tax cash flow: $452/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: Penns Grove-Carneys Point Regional School District
• NCES district ID: 3412840
• Math proficiency: 6% ▼ -16.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $44,930
• Composite: 11.98/100
• National rank: #9665
• State rank: #462 of 472 in NJ

Livability — Carneys Point

• Score: 57/100
• State rank: #515
• US rank: #21958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carneys Point, NJ
• County: Salem County · 24,175 people
• City population: 13,413
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,413
• Household income: $71,942
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 696.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 22% Black 22% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.07%
• Current HPI: 290.3853
• 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

+1288.9% since first listed

19 events — show timeline

• 2026-01-06 Listed $125,000 BRIGHT MLS
• 2025-12-24 Coming Soon $125,000 BRIGHT MLS
• 2021-06-30 Sold (MLS) $20,000 BRIGHT MLS
• 2021-05-28 Listed $27,777 BRIGHT MLS
• 2021-05-28 Listing Removed — BRIGHT MLS
• 2020-12-28 Pending — BRIGHT MLS
• 2020-12-28 Listing Removed — BRIGHT MLS
• 2020-12-06 Listed $27,777 BRIGHT MLS
• 2020-02-21 Sold (MLS) $10,001 BRIGHT MLS
• 2020-01-20 Pending — BRIGHT MLS
• 2019-12-23 Price Changed $10,000 BRIGHT MLS
• 2019-10-15 Listed $19,900 BRIGHT MLS
• 2008-08-29 Sold (Public Records) $51,000 Public Records
• 2000-12-18 Sold (MLS) $15,000 BRIGHT MLS
• 2000-02-02 Listed $15,000 BRIGHT MLS
• 2000-01-20 Listing Removed — BRIGHT MLS
• 1999-10-06 Listed $39,900 BRIGHT MLS
• 1995-02-23 Sold (Public Records) $40,000 Public Records
• 1991-12-02 Sold (Public Records) $9,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,774 · +16.2% YoY. Source: county tax records.