124-D Cherry Parke · Cherry Hill, NJ 08002

$120,000

1 bd · 1.0 ba · 736 sqft · Condo public records · 20 Days on market

Built 1950 $456/mo HOA · 24% of rent

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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 +22.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.1/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2Nd Flr. Unit In Move-In Cond. Complete With D/W, Washer, Dryer, Ref, Micro Wave, Range, C/A, Ceiling Fans, Newer W/ W, Custom Sun/Light Filtering Veritcal Blinds. Close To Pool, Tennis, Park, Haddonfield, Available Immediately. .. .. .. . Poss:Immediately

Key facts

• Community pool
• Updated kitchen
• Private storage area

Tags

• UPDATED KITCHEN
• BREAKFAST BAR
• IN UNIT WASHER AND DRYER
• PRIVATE STORAGE AREA
• COMMUNITY POOL
• ACCESS TO COOPER RIVER PARK

Property features AI

Finance

• Other: Property manager present; Pets allowed with number and size/weight restrictions
• HOA & community: Monthly condo fee of $456; HOA fee covers water, trash, snow removal, pool(s), management, lawn maintenance, insurance, and heat; Professionally managed off-site; Pool (outdoor) amenity

Exterior

• Parking: Parking lot with 2 spaces (total 2 garage/parking spaces)
• Utilities: Public water; Public sewer
• Home design: Condominium unit/flat; Garden-style building (1–4 floors); Entry on level 2
• Construction: Brick construction
• Exterior features: Community outdoor pool; Above grade and below grade structures

Interior

• Kitchen: Kitchen
• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Radiator heating (oil); Window air conditioning units (electric); Natural gas hot water
• Interior features: Living room; Dining room
• Laundry & utility: Washer and dryer in unit; Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.9%/yr); 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $30k; list at $120k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-6,323
• Equity at exit: $17,892

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $11,725
• Equity at exit: $10,375

Cash invested: $33,600 (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 08002

• Rents YoY: 2.9%
• Active inventory: 99
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$629
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$50
• HOA: −$456
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $204

Break-even live

Break-even rent $1,635

Max offer price $120,000

Occupancy floor 84%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Wilkins Ave Unit 2ND FL Haddonfield, NJ	1.0	1.0	700	$2,500	$3.57	24d	1	0.90mi
2 Linden Ave Haddonfield, NJ	1.0	1.0	595	$1,750	$2.94	24d	1	1.07mi
401 Cooper Landing Rd Cherry Hill, NJ	1.0	1.0	506	$1,700	$3.36	24d	1	1.29mi
1200 Marlton Pike E Cherry Hill, NJ	1.0	1.0	698	$1,675	$2.40	44d	1	1.45mi
210 W Crystal Lake Ave Haddonfield, NJ	1.0–2.0	1.0	780	$1,649	$2.11	3d	14	1.49mi

HOA detail condo

• Monthly dues: $456 · $5,472/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $120,000 Active 20 DOM
2. 2026-06-17
   days on market $120,000 Active 19 DOM
3. 2026-06-16
   days on market $120,000 Active 18 DOM
4. 2026-06-15
   days on market $120,000 Active 17 DOM
5. 2026-06-13
   days on market $120,000 Active 15 DOM
6. 2026-06-13
   days on market $120,000 Active 14 DOM
7. 2026-06-09
   days on market $120,000 Active 11 DOM
8. 2026-06-08
   days on market $120,000 Active 10 DOM
9. 2026-06-07
   days on market $120,000 Active 9 DOM
10. 2026-06-04
    days on market $120,000 Active 6 DOM
11. 2026-06-03
    days on market $120,000 Active 5 DOM
12. 2026-06-02
    days on market $120,000 Active 4 DOM
13. 2026-06-01
    days on market $120,000 Active 3 DOM
14. 2026-05-31
    days on market $120,000 Active 2 DOM
15. 2026-05-29
    listed $120,000 Active
16. 2000-12-21
    soldstatus $30,000
17. 2000-12-07
    soldstatus $30,000 256-char remark

    Show marketing remark (256 chars)

    2Nd Flr. Unit In Move-In Cond. Complete With D/W, Washer, Dryer, Ref, Micro Wave, Range, C/A, Ceiling Fans, Newer W/ W, Custom Sun/Light Filtering Veritcal Blinds. Close To Pool, Tennis, Park, Haddonfield, Available Immediately. .. .. .. . Poss:Immediately

18. 2000-11-22
    historical 256-char remark

    Show marketing remark (256 chars)

    2Nd Flr. Unit In Move-In Cond. Complete With D/W, Washer, Dryer, Ref, Micro Wave, Range, C/A, Ceiling Fans, Newer W/ W, Custom Sun/Light Filtering Veritcal Blinds. Close To Pool, Tennis, Park, Haddonfield, Available Immediately. .. .. .. . Poss:Immediately

19. 1999-11-05
    listed $30,000 256-char remark

    Show marketing remark (256 chars)

    2Nd Flr. Unit In Move-In Cond. Complete With D/W, Washer, Dryer, Ref, Micro Wave, Range, C/A, Ceiling Fans, Newer W/ W, Custom Sun/Light Filtering Veritcal Blinds. Close To Pool, Tennis, Park, Haddonfield, Available Immediately. .. .. .. . Poss:Immediately

ⓘ 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: $1,876 · $156/mo
• Projected year-2 tax: $2,432 · $203/mo
• Expected delta: +$556/yr (+$46/mo · 29.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,720
• − Mortgage interest: −$6,722
• − Property taxes: −$1,876
• − Insurance: −$600
• − Repairs & maintenance: −$1,818
• − Management: −$1,818
• − HOA: −$5,472
• − Depreciation: −$3,491
• Taxable income: $924
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $2,228/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: Cherry Hill School District
• NCES district ID: 3403000
• Math proficiency: 27% ▼ -26.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $90,394
• Composite: 40.71/100
• National rank: #3665
• State rank: #181 of 472 in NJ

Livability — Cherry Hill

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Camden County · 407,624 people
• City population: 76,725
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 24,015
• Household income: $100,951
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 430.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 12% Asian 12% Black 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 8% Scotch-Irish 2% Italian 2%
• Foreign-born: 18% · Vietnam, Canada, China
• Languages at home: 73% English-only · Spanish 8% Russian/Polish/Slavic 4% Vietnamese 4%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.30%
• Current HPI: 358.1597
• Rent YoY: ▲ 2.90%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+300.0% since first listed

5 events — show timeline

• 2026-05-29 Listed $120,000 BRIGHT MLS
• 2000-12-21 Sold (Public Records) $30,000 Public Records
• 2000-12-07 Sold (MLS) $30,000 BRIGHT MLS
• 2000-11-22 Listing Removed — BRIGHT MLS
• 1999-11-05 Listed $30,000 BRIGHT MLS

Property tax history

-0.2%/yr

Latest (2025): $1,876 · +5.4% YoY. Source: county tax records.