501 Hickory Cir · Springdale, NJ 08003

$207,000

2 bd · 1.0 ba · 924 sqft · Condo public records · 50 Days on market

Built 1986 $250/mo HOA · 10% of rent

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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 +22.5/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a HUD property-CASE #351522202 Nice two bedroom condominium unit on ground floor! Enter a spacious living and dining area with sliders leading to a covered porch - patio with privacy panel! Kitchen features electric cooking with above range microwave, tile floor and oak style cabinets! You will also find two good sized bedrooms and a full bathroom with soak tub and shower and sink and vanity with storage drawers. Parking is convenient with an assigned spot and spaces for guests! Close to roadways and shopping in a lovely setting! Schedule a showing today! HUD home sold "AS IS" Buyer is responsible for ALL transfer tax. Managed by Raine and Company. All offers that require

Key facts

• Covered porch
• Tile floor
• Ground floor

Tags

• GROUND FLOOR
• COVERED PORCH
• ELECTRIC COOKING
• TILE FLOOR
• OAK STYLE CABINETS
• FULL BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $207k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $207k).
• Recommended offer: $201k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.9% in Springdale — 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 81/100 on livability (#64 in NJ, #1,566 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, cost of living F.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 145 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($201k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 9352% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,790 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 6.7

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-11,175
• Equity at exit: $30,864

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $19,639
• Equity at exit: $17,898

Cash invested: $57,960 (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 08003

• Active inventory: 145
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,592 high
• Mortgage (P&I): −$1,086
• Tax from tax record: −$278 /mo · $3,333/yr
• Insurance: −$86
• HOA: −$250
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $348

Break-even live

Break-even rent $2,151

Max offer price $207,000

Occupancy floor 82%

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: $51,750
• Closing costs: $6,210
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 The Woods Cherry Hill, NJ	2.0	2.0	996	$2,700	$2.71	1d	1	0.04mi
704 The Woods Cherry Hill, NJ	2.0	2.0	1012	$2,400	$2.37	43d	1	0.06mi
1502 The Woods Cherry Hill, NJ	2.0	2.0	924	$2,200	$2.38	18d	1	0.10mi
1925 The Woods II Unit 1925 Cherry Hill Township, NJ	2.0	2.0	1032	$2,400	$2.33	18d	1	0.30mi
3 Executive Dr Marlton, NJ	1.0–2.0	1.0–2.0	999	$3,365	$3.37	1d	21	1.28mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-02-26
   historical $2,190
2. 2026-02-13
   listed $2,190
3. 2025-11-21
   status Pending
4. 2025-11-19
   price $207,000
5. 2025-10-02
   listed $230,000 Active

ⓘ 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: $3,333 · $278/mo
• Projected year-2 tax: $4,244 · $354/mo
• Expected delta: +$911/yr (+$76/mo · 27.3%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,102
• − Mortgage interest: −$11,595
• − Property taxes: −$3,333
• − Insurance: −$1,035
• − Repairs & maintenance: −$2,488
• − Management: −$2,488
• − HOA: −$3,000
• − Depreciation: −$6,022
• Taxable income: $1,140
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $3,902/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: Cherry Hill School District
• NCES district ID: 3403000
• Math proficiency: 27% ▼ -26.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $90,394
• Composite: 40.71/100
• National rank: #3665
• State rank: #181 of 472 in NJ

Livability — Springdale

• Score: 81/100
• State rank: #64
• US rank: #1566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springdale, NJ
• County: Camden County · 407,624 people
• City population: 31,929
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 31,809
• Household income: $155,059
• Rent vs Own: 15.5% rent · 84.5% own
• Severe rent burden: 583.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 17% Hispanic / Latino 6% Two or more races 6% Black 5%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 7% Romanian 6% Subsaharan African 2%
• Foreign-born: 19% · China, South Korea, Canada
• Languages at home: 77% English-only · Chinese 5% Spanish 3% Other Indo-European 3%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.29%
• Current HPI: 334.8611
• 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

-99.0% since first listed

5 events — show timeline

• 2026-02-26 Rental Removed $2,190 BRIGHTMLS
• 2026-02-13 Listed for Rent $2,190 BRIGHTMLS
• 2025-11-21 Pending — BRIGHT MLS
• 2025-11-19 Price Changed $207,000 BRIGHT MLS
• 2025-10-02 Listed $230,000 BRIGHT MLS

Property tax history

+1.7%/yr

Latest (2025): $3,333 · +5.4% YoY. Source: county tax records.