25 Hancock Dr Unit A · Crestwood Village, NJ 08759

$64,000

1 bd · 1.0 ba · — sqft · MultiFamily · 84 Days on market

$228/mo HOA · 11% of rent

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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 +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Crestwood 2 CO-OP*** DUPLEX*** 1 Bedroom, 1 Bath, garage. Ranch style Co-Op. Needs TLC. Buyer to use due diligence and buyer to obtain any CO/Cert. as required by the Municipality. Transaction takes 3+ months to close. Sold ''As Is/Where Is''

Key facts

• Garage
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $64k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.8% vs local median 5.6% in Crestwood Village — 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 63/100 on livability (#422 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, health & safety B+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $64k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 64% chance of damaging wind over 30y; major 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 $60,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.39% ✓
• Cap rate: 25.83%
• Cash-on-cash: 69.79%
• DSCR: 4.11
• GRM: 2.5

CMA / ARV

• ARV (median comp): $137,562
• List price: $64,000
• Delta: -53.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 69.4%
• Equity multiple: 4.13×
• Total profit: $56,176
• Equity at exit: $9,543

10-year hold

• IRR: 73.5%
• Equity multiple: 8.54×
• Total profit: $135,087
• Equity at exit: $5,534

Cash invested: $17,920 (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 08759

• Active inventory: 648
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$228
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $1,042

Break-even live

Break-even rent $848

Max offer price $64,000

Occupancy floor 47%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16B Ivy Ct Unit A Manchester Township, NJ	2.0	2.0	1544	$2,400	$1.55	1d	1	0.49mi
8A Canton Dr Unit 8A Whiting, NJ	2.0	2.0	—	$2,400	—	43d	1	0.55mi
19B Maplewood Dr #52 Whiting, NJ	2.0	1.5	1109	$2,250	$2.03	17d	1	0.60mi
35 Auburn St Whiting, NJ	2.0	1.5	—	$2,300	—	1d	1	0.60mi
4B Oxford Pl Unit A Whiting, NJ	2.0	2.0	—	$2,000	—	43d	1	0.62mi
9B Portsmouth St Unit 54B Whiting, NJ	2.0	2.0	1544	$2,400	$1.55	1d	1	0.67mi
9B Portsmouth St Unit 54B Whiting, NJ	2.0	2.0	1544	$2,350	$1.52	20d	1	0.67mi
57D Milford Ave Unit 53 Whiting, NJ	2.0	1.0	880	$1,800	$2.05	24d	1	0.71mi
9A Juniper Ln Unit 50 Whiting, NJ	1.0	1.0	1009	$1,950	$1.93	43d	1	0.79mi
49 Westport Dr #71 Whiting, NJ	2.0	1.5	1192	$1,995	$1.67	43d	1	0.81mi
50 Westport Dr #71 Whiting, NJ	2.0	1.0	1120	$2,200	$1.96	1d	1	0.82mi
— Lakehurst, NJ	2.0	2.0	1568	$2,300	$1.47	1d	1	1.14mi
1 Morning Glory Ln Whiting, NJ	2.0	2.5	1312	$1,200	$0.91	4d	1	1.29mi

HOA detail

• Monthly dues: $228 · $2,736/yr

Listing history 19 events

1. 2026-06-18
   days on market $64,000 Active 84 DOM
2. 2026-06-17
   days on market $64,000 Active 83 DOM
3. 2026-06-16
   days on market $64,000 Active 82 DOM
4. 2026-06-15
   days on market $64,000 Active 81 DOM
5. 2026-06-13
   pricedays on market $64,000 Active 79 DOM
6. 2026-06-09
   days on market $69,000 Active 75 DOM
7. 2026-06-08
   days on market $69,000 Active 74 DOM
8. 2026-06-07
   days on market $69,000 Active 73 DOM
9. 2026-06-04
   days on market $69,000 Active 70 DOM
10. 2026-06-03
    days on market $69,000 Active 69 DOM
11. 2026-06-02
    days on market $69,000 Active 68 DOM
12. 2026-06-01
    days on market $69,000 Active 67 DOM
13. 2026-05-31
    days on market $69,000 Active 66 DOM
14. 2026-04-23
    price $69,000 246-char remark

    Show marketing remark (246 chars)

    Crestwood 2 CO-OP*** DUPLEX*** 1 Bedroom, 1 Bath, garage. Ranch style Co-Op. Needs TLC. Buyer to use due diligence and buyer to obtain any CO/Cert. as required by the Municipality. Transaction takes 3+ months to close. Sold ''As Is/Where Is''

15. 2026-03-26
    listed $79,000 Active 246-char remark

    Show marketing remark (246 chars)

    Crestwood 2 CO-OP*** DUPLEX*** 1 Bedroom, 1 Bath, garage. Ranch style Co-Op. Needs TLC. Buyer to use due diligence and buyer to obtain any CO/Cert. as required by the Municipality. Transaction takes 3+ months to close. Sold ''As Is/Where Is''

16. 2012-01-17
    soldstatus $36,000 367-char remark

    Show marketing remark (367 chars)

    55+COMMUNITY OF CRESTWOOD VILLAGE TWO. ACTIVE CLUBHOUSE! ASSOCIATION FEE INCLUDES TAXES AND BUS SERVICE. NEW VINYL SIDED ALSO NEWER VINYL TILT-IN WINDOWS. KITCHEN HAS BEEN UPDATED WITH NEWER APPLIANCES AND COUNTER TOP. KITCHEN IS OPEN OVER LOOKING LIVING ROOM. LARGE TWO WALK-IN CLOSETS IN BEDROOM. HOME IS SUNNY AND BRIGHT AND IS VERY CLEAN. THIS IS A MUST SEE HOME!

17. 2011-10-30
    listed $39,900 367-char remark

    Show marketing remark (367 chars)

    55+COMMUNITY OF CRESTWOOD VILLAGE TWO. ACTIVE CLUBHOUSE! ASSOCIATION FEE INCLUDES TAXES AND BUS SERVICE. NEW VINYL SIDED ALSO NEWER VINYL TILT-IN WINDOWS. KITCHEN HAS BEEN UPDATED WITH NEWER APPLIANCES AND COUNTER TOP. KITCHEN IS OPEN OVER LOOKING LIVING ROOM. LARGE TWO WALK-IN CLOSETS IN BEDROOM. HOME IS SUNNY AND BRIGHT AND IS VERY CLEAN. THIS IS A MUST SEE HOME!

18. 2011-02-24
    soldstatus $37,000
19. 2010-09-03
    listed $39,900

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $26,012
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − HOA: −$2,736
• − Depreciation: −$1,862
• Taxable income: $12,387
• Est. tax owed @ 24.0%: −$2,973
• After-tax cash flow: $9,533/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: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Crestwood Village

• Score: 63/100
• State rank: #422
• US rank: #15006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crestwood Village, NJ
• City population: 34,290
• Population (ZIP): 34,290

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.85%
• Current HPI: 274.4679
• 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

+72.9% since first listed

6 events — show timeline

• 2026-04-23 Price Changed $69,000 MOMLS
• 2026-03-26 Listed $79,000 MOMLS
• 2012-01-17 Sold (MLS) $36,000 MOMLS
• 2011-10-30 Listed $39,900 MOMLS
• 2011-02-24 Sold (MLS) $37,000 MOMLS
• 2010-09-03 Listed $39,900 MOMLS