165 Freemont Ave #516

Woodbine, NJ 08270

$82,000B+

2 bd · 1.0 ba · 800 sqft · Built 2008 · SingleFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,940/mo
• Mortgage (P&I): −$430
• Tax + insurance: −$137
• HOA: −$0
• Vac / Maint / Mgmt: −$407
• Net cashflow: $966/mo
• Annual: $11,589/yr
• Cap rate: 20.43%
• Cash-on-cash: 50.47%
• DSCR: 3.25
• 1% rule: 2.37%
• Cash to close: $22,960

Investor read

• This is a 2-bed/1.0-bath single-family listed at $82k. Condition is rated fair.
• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• It's been on market 110 days — a 9% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#498 in NJ) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: employment D, schools F, amenities F.
• Woodbine School District (rural): math 25% / reading 40% proficiency, ranked #552 of 612 in NJ (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 60 active listings in the ZIP; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Ceiling fans — Ceiling fans are present but not visible in the photos.
• Minor: Furniture and decor — Furniture and decor appear outdated.
• Minor: Paint — Paint appears faded in some areas.
• Minor: Landscaping — No visible landscaping or curb appeal.