302 W Powell St · Millville, NJ 08332

$145,000

2 bd · 1.0 ba · 848 sqft · SingleFamily public records · 80 Days on market

Built 1880 1,870 sqft lot Est $179k · 19% 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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

Key facts

• Functional kitchen
• Rear mudroom
• Updated twin home

Tags

• UPDATED TWIN HOME
• FULL BASEMENT
• FUNCTIONAL KITCHEN
• DUAL LIVING ROOM LAYOUT
• REAR MUDROOM
• DETACHED SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.2% in Millville — 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 (#431 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+; Watch: schools F, crime F, amenities F.
• Millville School District (suburban): math 6% / reading 28% proficiency, ranked #447 of 472 in NJ (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 296 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 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 $4k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y 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.
• Current owner paid $6k; list at $145k implies a 2317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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. 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?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.56%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $178,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 Sharp St N	0.30mi	2/1.0	836 (-1%)	7mo	$75,100	$90	78
501 State St	0.58mi	2/1.0	835 (-2%)	6mo	$220,000	$263	66
420 Fulton St	0.65mi	2/1.0	865 (+2%)	3mo	$255,000	$295	64
831 N 3rd St	0.40mi	2/1.0	840 (-1%)	20mo	$131,500	$157	63
404 Maurice St	0.46mi	2/1.0	936 (+10%)	1mo	$196,500	$210	60
427 Fulton St	0.68mi	3/2.0 (+1)	857 (+1%)	4mo	$180,000	$210	54
410 W Main St	0.53mi	2/1.0	788 (-7%)	21mo	$215,000	$273	46
607 G St	0.71mi	2/1.0	752 (-11%)	3mo	$200,000	$266	45
803 7th St N	0.72mi	2/1.0	768 (-9%)	11mo	$228,000	$297	42
607 E Mulberry St	0.72mi	3/1.0 (+1)	924 (+9%)	7mo	$194,900	$211	41
510 Sassafras St	0.73mi	2/1.0	908 (+7%)	19mo	$60,000	$66	38
314 Howard St	0.56mi	3/1.0 (+1)	960 (+13%)	20mo	$185,000	$193	30

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-8,835
• Equity at exit: $21,620

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $6,711
• Equity at exit: $12,537

Cash invested: $40,600 (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 08332

• Home prices YoY: -28.9%
• Rents YoY: 1.9%
• Active inventory: 296
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,561 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$157 /mo · $1,882/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $256

Break-even live

Break-even rent $1,238

Max offer price $145,000

Occupancy floor 79%

Sensitivity live

Price	-10% $338	-5% $297	+0% $256	+5% $215	+10% $174
Rent	-10% $133	-5% $194	+0% $256	+5% $318	+10% $379
Rate	-1.0pp $329	-0.5pp $293	base $256	+0.5pp $218	+1.0pp $180

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 N 2nd St Millville, NJ	1.0	1.0	535	$1,500	$2.80	45d	3	0.85mi
301 N Wade Blvd Millville, NJ	1.0–2.0	1.0	1005	$1,715	$1.71	14d	10	1.43mi

Listing history 27 events

1. 2026-04-21
   status Pending
2. 2026-02-26
   price $145,000
3. 2026-01-31
   listed $150,000 Active
4. 2025-09-15
   historical
5. 2025-08-28
   price $110,000
6. 2025-08-15
   price $115,000
7. 2025-08-10
   listed $120,000 Active
8. 2025-08-08
   historical
9. 2016-01-25
   soldstatus $6,000 Sold 113-char remark

   Show marketing remark (113 chars)

   2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

10. 2016-01-25
    soldstatus $6,000

    Show marketing remark (113 chars)

    2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

11. 2016-01-25
    soldstatus $9,000 Sold

    Show marketing remark (113 chars)

    2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

12. 2016-01-18
    status Under Contract 113-char remark

    Show marketing remark (113 chars)

    2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

13. 2016-01-18
    historical Under Contract

    Show marketing remark (113 chars)

    2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

14. 2016-01-12
    historical
15. 2015-12-11
    status Active
16. 2015-12-06
    listed $9,500 Active 113-char remark

    Show marketing remark (113 chars)

    2 Bedroom 1 Bath 1/2 double located in Millville. Close to center city. This property is now under auction terms.

17. 2015-12-04
    listed $9,500
18. 2015-11-30
    historical
19. 2015-09-03
    listed $9,500 Active
20. 2015-04-01
    historical
21. 2015-03-31
    historical
22. 2013-10-10
    listed $15,900
23. 2013-10-07
    listed $15,900 Active
24. 2005-09-21
    soldstatus $85,000
25. 2003-12-19
    soldstatus $29,000
26. 2003-11-19
    historical
27. 2003-10-24
    listed $33,000

ⓘ 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: $1,882 · $157/mo
• Projected year-2 tax: $2,746 · $229/mo
• Expected delta: +$864/yr (+$72/mo · 45.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,738
• − Mortgage interest: −$8,122
• − Property taxes: −$1,882
• − Insurance: −$725
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$4,218
• Taxable income: $792
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $2,881/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: Millville School District
• NCES district ID: 3410320
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $48,851
• Composite: 15.23/100
• National rank: #9338
• State rank: #447 of 472 in NJ

Livability — Millville

• Score: 63/100
• State rank: #431
• US rank: #15561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millville, NJ
• County: Cumberland County · 80,266 people
• City population: 35,228
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 35,228
• Household income: $67,496
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1761.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.45%
• Current HPI: 274.8011
• Rent YoY: ▲ 1.94%
• Metro: Vineland-Bridgeton, NJ
• 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

+339.4% since first listed

27 events — show timeline

• 2026-04-21 Pending — BRIGHT MLS
• 2026-02-26 Price Changed $145,000 BRIGHT MLS
• 2026-01-31 Listed $150,000 BRIGHT MLS
• 2025-09-15 Listing Removed — BRIGHT MLS
• 2025-08-28 Price Changed $110,000 BRIGHT MLS
• 2025-08-15 Price Changed $115,000 BRIGHT MLS
• 2025-08-10 Listed $120,000 BRIGHT MLS
• 2025-08-08 Coming Soon — BRIGHT MLS
• 2016-01-25 Sold (MLS) $9,000 SJSRMLS
• 2016-01-25 Sold (MLS) $6,000 BRIGHT MLS
• 2016-01-25 Sold (MLS) $6,000 TREND
• 2016-01-18 Pending — TREND
• 2016-01-18 Contingent — SJSRMLS
• 2016-01-12 Listing Removed — BRIGHT MLS
• 2015-12-11 Relisted — SJSRMLS
• 2015-12-06 Listed $9,500 TREND
• 2015-12-04 Listed $9,500 BRIGHT MLS
• 2015-11-30 Listing Removed — SJSRMLS
• 2015-09-03 Listed $9,500 SJSRMLS
• 2015-04-01 Listing Removed — SJSRMLS
• 2015-03-31 Listing Removed — BRIGHT MLS
• 2013-10-10 Listed $15,900 BRIGHT MLS
• 2013-10-07 Listed $15,900 SJSRMLS
• 2005-09-21 Sold (Public Records) $85,000 Public Records
• 2003-12-19 Sold (MLS) $29,000 SJSRMLS
• 2003-11-19 Listing Removed — SJSRMLS
• 2003-10-24 Listed $33,000 SJSRMLS

Property tax history

+2.1%/yr

Latest (2025): $1,882 · +3.3% YoY. Source: county tax records.