1224 Heddon Ave · Paulsboro, NJ 08066

$121,600

2 bd · 1.0 ba · 928 sqft · SingleFamily public records · 124 Days on market

Built 1938 6,200 sqft lot Est $210k · 42% under ↓ 21% since listing

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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 +26.5/30.0
• ARV discount +15.0/15.0
• 1% rule +9.1/10.0
• DSCR +9.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity for investors, contractors, or flippers! This two-story Colonial in Paulsboro offers great bones, classic curb appeal, and endless potential with the right updates. Condition: This property needs a full renovation — bring your tools and vision. With the right improvements, this home could shine as a profitable flip or long-term rental. Location Highlights: Conveniently located near local schools, shopping, and parks, with easy access to Route 295, Route 130, and the Commodore Barry Bridge. Just minutes from Philadelphia and major South Jersey employment centers. Why You’ll Love It: ✔ Solid structure and desirable Colonial layout ✔ Strong rental demand in th

Key facts

• Two story colonial
• Full renovation
• 6,200 sq ft lot

Tags

• TWO STORY COLONIAL
• FULL RENOVATION
• EASY ACCESS TO ROUTE 295
• EASY ACCESS TO ROUTE 130
• MINUTES FROM PHILADELPHIA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/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 $841 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $31k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• 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 $107,008 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1938 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.41% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $209,728
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1224 Heddon Ave	0.00mi	2/1.0	928 (0%)	1mo	$121,600	$131	99
1221 Walter Ave	0.08mi	2/1.0	988 (+6%)	1mo	$255,000	$258	84
1217 Berkley Rd	0.04mi	2/1.0	868 (-6%)	10mo	$230,000	$265	79
1638 S Delaware St	0.39mi	2/1.0	936 (+1%)	15mo	$175,000	$187	68
256 Morton Ave	0.22mi	3/1.0 (+1)	1,014 (+9%)	13mo	$260,000	$256	59
318 W Buck St	0.47mi	3/1.0 (+1)	1,017 (+10%)	2mo	$230,000	$226	56
206 W Adams St	0.57mi	3/1.0 (+1)	960 (+3%)	12mo	$189,000	$197	52
344 W Washington	0.52mi	3/1.0 (+1)	1,008 (+9%)	5mo	$225,000	$223	52
1032 Ladner Ave	0.43mi	3/1.0 (+1)	1,008 (+9%)	14mo	$305,000	$303	49
311 W Washington St	0.53mi	3/1.0 (+1)	1,048 (+13%)	9mo	$220,000	$210	41
372 W Washington St	0.53mi	3/1.0 (+1)	1,008 (+9%)	18mo	$260,000	$258	41

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,013
• Equity at exit: $18,131

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $27,958
• Equity at exit: $10,514

Cash invested: $34,048 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,715 medium
• Mortgage (P&I): −$638
• Tax from tax record: −$343 /mo · $4,121/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $323

Break-even live

Break-even rent $1,306

Max offer price $121,600

Occupancy floor 76%

Sensitivity live

Price	-10% $392	-5% $357	+0% $323	+5% $289	+10% $254
Rent	-10% $188	-5% $255	+0% $323	+5% $391	+10% $459
Rate	-1.0pp $384	-0.5pp $354	base $323	+0.5pp $292	+1.0pp $259

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: $30,400
• Closing costs: $3,648
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1152 Berkley Rd Gibbstown, NJ	2.0	1.0	840	$1,850	$2.20	21d	1	0.16mi
401-409 Elizabeth Ave Paulsboro, NJ	2.0	1.0	800	$1,672	$2.09	1d	2	0.37mi
221 Berkley Rd Paulsboro, NJ	1.0–2.0	1.0	750	$1,650	$2.20	1d	7	0.47mi
322 W Washington St Paulsboro, NJ	2.0	1.0	776	$1,875	$2.42	25d	1	0.52mi

Listing history 7 events

1. 2026-04-21
   status Pending
2. 2026-04-03
   price $121,600
3. 2026-03-06
   status Active
4. 2026-01-22
   status Pending
5. 2026-01-06
   price $156,750
6. 2025-12-30
   price $145,350
7. 2025-11-05
   listed $153,000 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: $4,121 · $343/mo
• Projected year-2 tax: $4,121 · $343/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $20,579
• − Mortgage interest: −$6,811
• − Property taxes: −$4,121
• − Insurance: −$608
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$3,537
• Taxable income: $2,209
• Est. tax owed @ 24.0%: −$530
• After-tax cash flow: $3,346/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: 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

-20.5% since first listed

7 events — show timeline

• 2026-04-21 Pending — BRIGHT MLS
• 2026-04-03 Price Changed $121,600 BRIGHT MLS
• 2026-03-06 Relisted — BRIGHT MLS
• 2026-01-22 Pending — BRIGHT MLS
• 2026-01-06 Price Changed $156,750 BRIGHT MLS
• 2025-12-30 Price Changed $145,350 BRIGHT MLS
• 2025-11-05 Listed $153,000 BRIGHT MLS

Property tax history

+2.8%/yr

Latest (2025): $4,121 · +10.3% YoY. Source: county tax records.