104 S 5th St #39 · Whitesboro, NJ 08242

$44,900

1 bd · 1.0 ba · 600 sqft · SingleFamily · 77 Days on market

Built 1993 Good condition ↓ 25% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0

Listing remarks

CLOSE to BEACH! LOW LOT RENT! Charming 1-Bedroom, 1-Bathroom Mobile Home - Close to the Beach! Welcome to your coastal retreat! This newly renovated 1-bedroom, 1-bathroom mobile home offers the perfect blend of modern comfort and beachy charm. Located just minutes from the sand and surf, this home is ideal for those looking to enjoy the relaxed beach lifestyle. Step inside to find a bright and airy open-concept living space, with fresh paint, brand-new flooring, and contemporary finishes throughout. The spacious living area is perfect for unwinding after a day at the beach, while the updated kitchen features sleek countertops, standard size appliances, and ample storage for all your culin

Key facts

• Updated kitchen
• Close to beach
• Newly renovated

Tags

• CLOSE TO BEACH
• NEWLY RENOVATED
• OPEN-CONCEPT LIVING SPACE
• UPDATED KITCHEN
• PRIVATE LOW-MAINTENANCE YARD

Property features AI

Finance

• Other: Annual ground rent listed under income/expense
• Financial info: Lease not considered
• HOA & community: Land lease with monthly ground rent; Ground rent exists; Land lease amount $650 monthly; 99 years remaining on land lease; Property manager present; Pets allowed with restrictions (breed, number, size/weight) and pet addendum/deposit

Exterior

• Parking: On-street parking (no fee)
• Utilities: Private/community water; Community septic tank; Electric cooling fuel; Propane hot water and heating (leased)
• Home design: Manufactured single-wide home; Estimated major remodel in 2025; Estimated year built (source: estimated)
• Construction: Aluminum siding; Shingle roof; Slab foundation
• Exterior features: Corner lot; Porch(es); Above-grade outdoor structures

Interior

• Kitchen: Refrigerator; Single oven; Microwave; Kitchen island
• Bedrooms: One bedroom on the main level
• Flooring: Carpet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: 90% forced air heating; Propane hot water; Propane (leased) heating fuel; Ceiling fan cooling (electric)
• Interior features: Open floor plan; Combination kitchen and living area; Galley kitchen with island; Tub/shower; Window treatments; Carpeted areas; Furnished
• Laundry & utility: No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($935 rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#400 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: schools F, amenities F, commute D-.
• Middle Township Public School District (suburban): math 15% / reading 38% proficiency, ranked #372 of 472 in NJ (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 72 active listings in the ZIP; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($310 loan paydown + $4k appreciation (10.0% local appreciation)).
• Cape May County population projected at -24% 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.08% ✓
• Cap rate: 17.74%
• Cash-on-cash: 40.87%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 55.9%
• Equity multiple: 5.12×
• Total profit: $51,739
• Equity at exit: $40,449

10-year hold

• IRR: 49.5%
• Equity multiple: 11.42×
• Total profit: $130,946
• Equity at exit: $87,231

Cash invested: $12,572 (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 08242

• Home prices YoY: 14.2%
• Active inventory: 72
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $935 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $428

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 49%

Sensitivity live

Price	-10% $459	-5% $444	+0% $428	+5% $413	+10% $397
Rent	-10% $354	-5% $391	+0% $428	+5% $465	+10% $502
Rate	-1.0pp $451	-0.5pp $440	base $428	+0.5pp $417	+1.0pp $405

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-09
   statusdays on market $44,900 Pending 77 DOM
2. 2026-06-08
   days on market $44,900 Active 76 DOM
3. 2026-06-07
   days on market $44,900 Active 75 DOM
4. 2026-06-07
   days on market $44,900 Active 74 DOM
5. 2026-06-04
   days on market $44,900 Active 71 DOM
6. 2026-06-02
   days on market $44,900 Active 70 DOM
7. 2026-06-01
   days on market $44,900 Active 69 DOM
8. 2026-05-31
   days on market $44,900 Active 68 DOM
9. 2026-04-21
   price $44,900
10. 2026-03-24
    listed $49,990 Active
11. 2026-03-18
    historical
12. 2025-12-16
    price $49,900
13. 2025-10-09
    listed $59,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,217
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$897
• − Management: −$897
• − Depreciation: −$1,306
• Taxable income: $4,703
• Est. tax owed @ 24.0%: −$1,129
• After-tax cash flow: $4,009/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This newly renovated mobile home offers a charming and modern beach retreat with updated interiors and a fresh exterior. Ideal for both resale and rental markets.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value
• Resale Upgrading the kitchen appliances — Modernizes the space and attracts buyers
• Rental Adding a small deck or patio — Improves outdoor living space and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value ↑
• Resale Upgrading the kitchen appliances — Modernizes the space and attracts buyers ↑
• Rental Adding a small deck or patio — Improves outdoor living space and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Middle Township Public School District
• NCES district ID: 3410020
• Math proficiency: 15% ▼ -18.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $59,228
• Composite: 24.09/100
• National rank: #7754
• State rank: #372 of 472 in NJ

Livability — Whitesboro

• Score: 64/100
• State rank: #400
• US rank: #13908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitesboro, NJ
• Population (ZIP): 4,021

Population outlook (Cape May County) Hauer SSP2

• Today (2025): 88,234 people
• By 2030: 84,144 · -4.6%
• By 2040: 75,146 · -14.8%
• By 2050: 67,389 · -23.6%
• By 2075: 55,732 · -36.8%
• By 2100: 44,972 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Two or more races 11% Black 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 11% Russian/Polish/Slavic 2% Arabic 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 51.53%
• Current HPI: 414.7401
• 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

-25.0% since first listed

5 events — show timeline

• 2026-04-21 Price Changed $44,900 BRIGHT MLS
• 2026-03-24 Listed $49,990 BRIGHT MLS
• 2026-03-18 Listing Removed — BRIGHT MLS
• 2025-12-16 Price Changed $49,900 BRIGHT MLS
• 2025-10-09 Listed $59,900 BRIGHT MLS