443 S 6th Ave #48

Absecon, NJ 08205

$34,500D

1 bd · 1.0 ba · 900 sqft · Built 2001 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,737/mo
• Mortgage (P&I): −$181
• Tax + insurance: −$58
• HOA: −$960
• Vac / Maint / Mgmt: −$365
• Net cashflow: $174/mo
• Annual: $2,084/yr
• Cap rate: 12.33%
• Cash-on-cash: 21.57%
• DSCR: 1.96
• 1% rule: 5.03%
• Cash to close: $9,660

Investor read

• This is a 1-bed/1.0-bath single-family listed at $34k.
• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $34k).
• It's been on market 26 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $239 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#187 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, employment B+; Watch: schools D, cost of living D, amenities F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 55% of rent.
• Market conditions: 240 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.3% vs local median 5.5% in Absecon — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.