7100 BLVD E Unit 12C

Guttenberg, NJ 07093

$299,000F

2 bd · 1.5 ba · 1,400 sqft · Built — · Condo · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,170/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$498
• HOA: −$2,500
• Vac / Maint / Mgmt: −$666
• Net cashflow: $-2,062/mo
• Annual: $-24,747/yr
• Cap rate: -1.98%
• Cash-on-cash: -29.56%
• DSCR: -0.32
• 1% rule: 1.06%
• Cash to close: $83,720

Investor read

• This is a 2-bed/1.5-bath condo listed at $299k. Condition is rated good.
• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $584 (99.8% below list).
• Meets the 1% rule at list price ($3k rent vs $299k).
• It's been on market 37 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $584 (99.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#51 in NJ, #1,253 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A; Watch: cost of living F.
• Guttenberg School District (suburban): math 10% / reading 28% proficiency, ranked #435 of 472 in NJ (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Anna L. Klein (math 10% / reading 28%, grade F, #1,030 of 1,303 statewide, top 80%, 949 students, 74% FRL) — zoned schools at 74% FRL track the district average.
• Watch-outs: HOA is 79% of rent.
• Market conditions: Rents rising (+2.7%/yr); 447 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,310 units permitted in Hudson County in 2024 (4,154 in 5+ unit buildings).
• Hudson County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 9y 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 $160k; list at $299k implies a 87% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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.
• Cap rate -2.0% vs local median 2.3% in Guttenberg — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $3,170/mo this rent would consume 52% of the median local household income ($73k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 100% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.