7100 BLVD E Unit 12C

Guttenberg, NJ 07093-4907

$315,000D-

2 bd · 1.5 ba · 1,400 sqft · Built — · Condo · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,595/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$525
• HOA: −$2,637
• Vac / Maint / Mgmt: −$755
• Net cashflow: $-1,973/mo
• Annual: $-23,682/yr
• Cap rate: -1.23%
• Cash-on-cash: -26.85%
• DSCR: -0.19
• 1% rule: 1.14%
• Cash to close: $88,200

Investor read

• This is a 2-bed/1.5-bath condo listed at $315k. Condition is rated good.
• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $29k (90.7% below list).
• Meets the 1% rule at list price ($4k rent vs $315k).
• It's been on market 70 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (90.7% below list) — sets the bar for cash-flow.
• In year one you build about $12k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• 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 73% of rent.
• Market conditions: 1 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); 68% 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.
• 2 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 $315k implies a 97% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 -1.2% vs local median 2.1% in Guttenberg — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 70 days. Have you received any prior offers? Is the seller open to a 91% 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.