932 Grant St · Mays Landing, NJ 08330

$299,900

3 bd · 1.5 ba · 1,408 sqft · Townhouse public records · 8 Days on market

Built 1987 Est $225k · 33% over $165/mo HOA · 6% of rent

---

Why this score? — see what drove the D 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 +11.1/30.0
• Appreciation +10.0/10.0
• Schools +4.7/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Flow through this spectacular end unit townhouse beaming with a bright custom designed kitchen with soft close cabinets and drawers, recessed lighting, subway tile flashing, quartz countertops, Pergo flooring and modern appliances. Sunlight is beaming through dining area windows, with custom window coverings, to highlight the dining area. Stroll thru the house to a welcoming living room with Pella doors leading to a backyard patio. Lounge on the patio looking out at the woodland. No fear of building behind as the forest leads to the Egg Harbor River system. A raised garden bed is available for planting should you be inclined. At the back of the yard under cover of tree limbs is a perennial

Key facts

• Private patio
• Recessed lighting
• Newer eat in kitchen

Tags

• NEWER EAT IN KITCHEN
• UPGRADED CABINETS
• QUARTZ COUNTER TOPS
• RECESSED LIGHTING
• STAINLESS STEEL APPLIANCES
• PRIVATE PATIO

Property features AI

Finance

• HOA & community: HOA fee of $165

Exterior

• Parking: Two-car exterior parking (no garage)
• Utilities: Public water; Public sewer; Gas water heater
• Home design: For sale
• Construction: Stucco construction
• Exterior features: Patio; Shed; Sidewalks; Combination storms/screens; Stucco exterior

Interior

• Kitchen: 10 x 18 kitchen; Dishwasher; Gas stove; Microwave; Refrigerator; Self-cleaning oven; Breakfast nook; Pantry
• Bedrooms: Bedroom 1 (upper level) — 11 x 16; Bedroom 2 (upper level) — 10 x 10; Bedroom 3 (upper level) — 9 x 11
• Flooring: Vinyl; Wall-to-wall over hardwood; Laminate
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main level)
• Heating & cooling: Central air conditioning; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Dishwasher; Gas Stove; Microwave; Refrigerator; Self-cleaning Oven; Breakfast nook; Dining area; Great room; Pantry; Storage attic; Powder room on main level; Slab foundation
• Laundry & utility: Laundry/utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $300k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (12.9% below list).
• Recommended offer: $261k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.0% in Mays Landing — 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 72/100 on livability (#214 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety B+; Watch: commute C-, cost of living D+, amenities F.
• Weymouth Township School District (rural): math 50% / reading 55% proficiency, ranked #351 of 612 in NJ (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 240 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 41% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $62k; list at $300k implies a 381% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 79% 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 $261,161 (12.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.87% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.69%
• DSCR: 0.92
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $225,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 Blake Dr	0.09mi	3/1.5	1,408 (0%)	10mo	$225,000	$160	87

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: 23.1%
• Equity multiple: 2.86×
• Total profit: $155,899
• Equity at exit: $270,174

10-year hold

• IRR: 20.6%
• Equity multiple: 6.54×
• Total profit: $465,239
• Equity at exit: $582,640

Cash invested: $83,972 (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 08330

• Home prices YoY: 3.9%
• Active inventory: 240
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,612 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$319 /mo · $3,827/yr
• Insurance: −$125
• HOA: −$165
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $-118

Break-even live

Break-even rent $2,761

Max offer price $278,985

Occupancy floor 100%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6200 Old Harding Hwy Mays Landing, NJ	2.0	2.0	1200	$2,299	$1.92	12d	1	0.92mi

HOA detail

• Monthly dues: $165 · $1,980/yr

Listing history 8 events

1. 2026-06-19
   days on market $299,900 Active 8 DOM
2. 2026-06-18
   days on market $299,900 Active 7 DOM
3. 2026-06-17
   days on market $299,900 Active 6 DOM
4. 2026-06-16
   days on market $299,900 Active 5 DOM
5. 2026-06-15
   days on market $299,900 Active 4 DOM
6. 2026-06-14
   days on market $299,900 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $299,900 Active 1 DOM

ⓘ 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: $3,827 · $319/mo
• Projected year-2 tax: $5,647 · $471/mo
• Expected delta: +$1,820/yr (+$152/mo · 47.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 79% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,339
• − Mortgage interest: −$16,799
• − Property taxes: −$3,827
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,507
• − Management: −$2,507
• − HOA: −$1,980
• − Depreciation: −$8,724
• Taxable loss: −$6,505
• Est. tax savings @ 24.0%: +$1,561
• After-tax cash flow: $140/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: Weymouth Township School District
• NCES district ID: 3417850
• Math proficiency: 50% ▲ 5.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $54,908
• Composite: 47.23/100
• National rank: #5081
• State rank: #351 of 612 in NJ

Livability — Mays Landing

• Score: 72/100
• State rank: #214
• US rank: #5982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Atlantic County · 143,611 people
• City population: 29,972
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 29,972
• Household income: $77,167
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1003.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 16% Black 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 84% English-only · Spanish 10% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.58%
• Current HPI: 308.5148
• Rent YoY: —
• Metro: Atlantic City-Hammonton, 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

+380.6% since first listed

2 events — show timeline

• 2026-06-10 Listed $299,900 SJSRMLS
• 1987-01-16 Sold (Public Records) $62,400 Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,827 · +5.8% YoY. Source: county tax records.