110 N Railroad Ave · Oldmans, NJ 08067

$189,900

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 260 Days on market

Built 1940 0.38 ac lot $152/sqft · 40% below area Est $317k · 40% under

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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 +16.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +5.6/10.0
• DSCR +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your vision and creativity to this Farmhouse-style home waiting to be restored to its former charm! Priced at $189,900 in “As Is” condition, this property offers a rare opportunity to design and customize a full renovation to your taste with the fully gutted interior. Seller INSTALLED A BRAND NEW SEPTIC SYSTEM (Apr 2026). As additional rehab work is completed, the listing price will increase, so now is the perfect time to secure this investment at today’s value. With its spacious layout, wraparound porch, and a peaceful setting in Oldmans Township, NJ, this home has all the makings of a showpiece. Whether you’re looking for a primary residence or a rewarding project, this property allows you to create a home that truly reflects your style.

Key facts

• Farmhouse style
• Full renovation
• Wraparound porch

Tags

• FARMHOUSE STYLE
• WRAPAROUND PORCH
• FULL RENOVATION
• BRAND NEW SEPTIC SYSTEM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (3.3% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Oldmans Township School District (rural): math 65% / reading 60% proficiency, ranked #230 of 612 in NJ (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 13 active listings in the ZIP; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $190k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 8.6

CMA / ARV

• ARV (median comp): $316,855
• List price: $189,900
• Delta: -40.07%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Ferrell Ln	0.33mi	4/2.0	1,248 (0%)	10mo	$281,875	$226	73
63 Porcupine Rd	0.34mi	3/1.0 (-1)	1,166 (-7%)	15mo	$240,000	$206	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 3.06×
• Total profit: $109,790
• Equity at exit: $171,077

10-year hold

• IRR: 22.8%
• Equity multiple: 6.99×
• Total profit: $318,451
• Equity at exit: $368,934

Cash invested: $53,172 (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 08067

• Home prices YoY: 20.6%
• Active inventory: 13
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,836 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$276 /mo · $3,312/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $99

Break-even live

Break-even rent $1,710

Max offer price $189,900

Occupancy floor 90%

Sensitivity live

Price	-10% $207	-5% $153	+0% $99	+5% $45	+10% $-8
Rent	-10% $-46	-5% $27	+0% $99	+5% $172	+10% $244
Rate	-1.0pp $195	-0.5pp $147	base $99	+0.5pp $50	+1.0pp $0

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $189,900 Active 260 DOM
2. 2026-06-17
   days on market $189,900 Active 259 DOM
3. 2026-06-16
   days on market $189,900 Active 258 DOM
4. 2026-06-15
   days on market $189,900 Active 257 DOM
5. 2026-06-13
   days on market $189,900 Active 255 DOM
6. 2026-06-13
   days on market $189,900 Active 254 DOM
7. 2026-06-09
   days on market $189,900 Active 251 DOM
8. 2026-06-08
   days on market $189,900 Active 250 DOM
9. 2026-06-07
   days on market $189,900 Active 249 DOM
10. 2026-06-04
    days on market $189,900 Active 246 DOM
11. 2026-06-03
    days on market $189,900 Active 245 DOM
12. 2026-06-02
    days on market $189,900 Active 244 DOM
13. 2026-06-01
    days on market $189,900 Active 243 DOM
14. 2026-05-31
    days on market $189,900 Active 242 DOM
15. 2026-04-24
    price $189,900 779-char remark

    Show marketing remark (779 chars)

    Bring your vision and creativity to this Farmhouse-style home waiting to be restored to its former charm! Priced at $189,900 in “As Is” condition, this property offers a rare opportunity to design and customize a full renovation to your taste with the fully gutted interior. Seller INSTALLED A BRAND NEW SEPTIC SYSTEM (Apr 2026). As additional rehab work is completed, the listing price will increase, so now is the perfect time to secure this investment at today’s value. With its spacious layout, wraparound porch, and a peaceful setting in Oldmans Township, NJ, this home has all the makings of a showpiece. Whether you’re looking for a primary residence or a rewarding project, this property allows you to create a home that truly reflects your style.

16. 2025-10-01
    listed $169,900 Active 779-char remark

    Show marketing remark (779 chars)

    Bring your vision and creativity to this Farmhouse-style home waiting to be restored to its former charm! Priced at $189,900 in “As Is” condition, this property offers a rare opportunity to design and customize a full renovation to your taste with the fully gutted interior. Seller INSTALLED A BRAND NEW SEPTIC SYSTEM (Apr 2026). As additional rehab work is completed, the listing price will increase, so now is the perfect time to secure this investment at today’s value. With its spacious layout, wraparound porch, and a peaceful setting in Oldmans Township, NJ, this home has all the makings of a showpiece. Whether you’re looking for a primary residence or a rewarding project, this property allows you to create a home that truly reflects your style.

17. 2025-10-01
    soldstatus $120,000

    Show marketing remark (779 chars)

    Bring your vision and creativity to this Farmhouse-style home waiting to be restored to its former charm! Priced at $189,900 in “As Is” condition, this property offers a rare opportunity to design and customize a full renovation to your taste with the fully gutted interior. Seller INSTALLED A BRAND NEW SEPTIC SYSTEM (Apr 2026). As additional rehab work is completed, the listing price will increase, so now is the perfect time to secure this investment at today’s value. With its spacious layout, wraparound porch, and a peaceful setting in Oldmans Township, NJ, this home has all the makings of a showpiece. Whether you’re looking for a primary residence or a rewarding project, this property allows you to create a home that truly reflects your style.

18. 1992-06-02
    soldstatus $67,000
19. 1987-04-30
    soldstatus $31,500

ⓘ 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: $3,312 · $276/mo
• Projected year-2 tax: $4,020 · $335/mo
• Expected delta: +$708/yr (+$59/mo · 21.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 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 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,027
• − Mortgage interest: −$10,637
• − Property taxes: −$3,312
• − Insurance: −$950
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$5,524
• Taxable loss: −$1,920
• Est. tax savings @ 24.0%: +$461
• After-tax cash flow: $1,651/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: Oldmans Township School District
• NCES district ID: 3412210
• Math proficiency: 65% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $69,017
• Composite: 56.48/100
• National rank: #2462
• State rank: #230 of 612 in NJ

Livability — Oldmans

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Pedricktown, NJ
• Population (ZIP): 1,704

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: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 4% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 2% Russian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 58.98%
• Current HPI: 344.7263
• 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

+502.9% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $189,900 BRIGHT MLS
• 2025-10-01 Sold (Public Records) $120,000 Public Records
• 2025-10-01 Listed $169,900 BRIGHT MLS
• 1992-06-02 Sold (Public Records) $67,000 Public Records
• 1987-04-30 Sold (Public Records) $31,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $3,312 · +0.3% YoY. Source: county tax records.