273 N Broad St · Carneys Point, NJ 08069

$125,000

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 72 Days on market

Built 1890 3,524 sqft lot $129/sqft · 8% below area Est $136k · 8% under

---

Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +11.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 273 North Broadway in Carneys Point! This home offers great potential for buyers looking to renovate and build equity. Situated on a nice lot in a convenient location, it’s the perfect project for someone ready to bring their vision to life. Property is being sold strictly as-is, how is, where is, and will require updates and repairs. Ideal for investors or buyers utilizing cash or renovation financing. Please note: due to its current condition, the property will not qualify for FHA or conventional financing. Don’t miss the chance to turn this into a great investment or future home!- This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. •

Key facts

• Built 1890
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 5.1% in Carneys Point — 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 57/100 on livability (#515 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing B+; Watch: employment C-, schools D-, amenities F.
• Penns Grove-Carneys Point Regional School District (suburban): math 6% / reading 21% proficiency, ranked #462 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $98k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 14.14%
• Cash-on-cash: 28.03%
• DSCR: 2.25
• GRM: 4.8

CMA / ARV

• ARV (median comp): $136,111
• List price: $125,000
• Delta: -8.16%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
291 N Virginia Ave #24	0.23mi	2/1.0 (-1)	924 (-5%)	24mo	$63,000	$68	56
127 N Broad St	0.47mi	2/1.5 (-1)	1,050 (+8%)	11mo	$165,000	$157	48
9 W Griffith St	0.68mi	2/1.0 (-1)	972 (0%)	20mo	$152,500	$157	46
149 6th Ave	0.42mi	4/2.0 (+1)	1,050 (+8%)	17mo	$250,000	$238	44
138 Penns Grove Auburn Rd	0.64mi	2/1.0 (-1)	1,010 (+4%)	22mo	$185,000	$183	40
222 Delaware Ave	0.47mi	3/1.0	1,110 (+14%)	19mo	$225,000	$203	39
31 E Pitman St	0.64mi	3/1.0	1,104 (+14%)	22mo	$230,000	$208	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 22.2%
• Equity multiple: 1.91×
• Total profit: $31,860
• Equity at exit: $18,638

10-year hold

• IRR: 30.3%
• Equity multiple: 3.71×
• Total profit: $94,970
• Equity at exit: $10,808

Cash invested: $35,000 (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 08069

• Home prices YoY: -18.8%
• Active inventory: 105
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,151 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$174 /mo · $2,089/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $818

Break-even live

Break-even rent $1,116

Max offer price $125,000

Occupancy floor 57%

Sensitivity live

Price	-10% $888	-5% $853	+0% $818	+5% $782	+10% $747
Rent	-10% $648	-5% $733	+0% $818	+5% $903	+10% $987
Rate	-1.0pp $881	-0.5pp $849	base $818	+0.5pp $785	+1.0pp $752

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 Penns Grove Auburn Rd Penns Grove, NJ	1.0–2.0	1.0	875	$1,650	$1.89	0d	3	0.60mi

Listing history 20 events

1. 2026-06-21
   days on market $125,000 Active 72 DOM
2. 2026-06-18
   days on market $125,000 Active 69 DOM
3. 2026-06-17
   days on market $125,000 Active 68 DOM
4. 2026-06-16
   days on market $125,000 Active 67 DOM
5. 2026-06-15
   days on market $125,000 Active 66 DOM
6. 2026-06-13
   days on market $125,000 Active 64 DOM
7. 2026-06-09
   days on market $125,000 Active 60 DOM
8. 2026-06-08
   days on market $125,000 Active 59 DOM
9. 2026-06-07
   days on market $125,000 Active 58 DOM
10. 2026-06-04
    days on market $125,000 Active 55 DOM
11. 2026-06-03
    days on market $125,000 Active 54 DOM
12. 2026-06-02
    days on market $125,000 Active 53 DOM
13. 2026-06-01
    days on market $125,000 Active 52 DOM
14. 2026-05-31
    days on market $125,000 Active 51 DOM
15. 2026-05-16
    price $125,000 888-char remark

    Show marketing remark (888 chars)

    Opportunity awaits at 273 North Broadway in Carneys Point! This home offers great potential for buyers looking to renovate and build equity. Situated on a nice lot in a convenient location, it’s the perfect project for someone ready to bring their vision to life. Property is being sold strictly as-is, how is, where is, and will require updates and repairs. Ideal for investors or buyers utilizing cash or renovation financing. Please note: due to its current condition, the property will not qualify for FHA or conventional financing. Don’t miss the chance to turn this into a great investment or future home!- This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. •

16. 2026-04-10
    listed $130,000 Active 888-char remark

    Show marketing remark (888 chars)

    Opportunity awaits at 273 North Broadway in Carneys Point! This home offers great potential for buyers looking to renovate and build equity. Situated on a nice lot in a convenient location, it’s the perfect project for someone ready to bring their vision to life. Property is being sold strictly as-is, how is, where is, and will require updates and repairs. Ideal for investors or buyers utilizing cash or renovation financing. Please note: due to its current condition, the property will not qualify for FHA or conventional financing. Don’t miss the chance to turn this into a great investment or future home!- This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. •

17. 2006-07-07
    soldstatus $98,000
18. 2006-06-30
    soldstatus $98,000 455-char remark

    Show marketing remark (455 chars)

    Next best to new! New kitchen, New bath, New carpeting, New vinyl flooring, New front & rear entrance doors, New storms doors, New gas heater, New central air, New hot water heater, New electrical service & breaker box, outlets, New ceiling fans in every room, freshly painted inside & out! Garage has new roof, New windows, doors & has also been freshly painted. OWNER IS OFFERING UP TO 6% IN CLOSEING COST TO THE QUALIFIED BUYER.

19. 2006-03-05
    listed $98,000 455-char remark

    Show marketing remark (455 chars)

    Next best to new! New kitchen, New bath, New carpeting, New vinyl flooring, New front & rear entrance doors, New storms doors, New gas heater, New central air, New hot water heater, New electrical service & breaker box, outlets, New ceiling fans in every room, freshly painted inside & out! Garage has new roof, New windows, doors & has also been freshly painted. OWNER IS OFFERING UP TO 6% IN CLOSEING COST TO THE QUALIFIED BUYER.

20. 1979-04-27
    soldstatus $21,000

ⓘ 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: $2,089 · $174/mo
• Projected year-2 tax: $2,601 · $217/mo
• Expected delta: +$512/yr (+$43/mo · 24.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,812
• − Mortgage interest: −$7,002
• − Property taxes: −$2,089
• − Insurance: −$625
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$3,636
• Taxable income: $8,329
• Est. tax owed @ 24.0%: −$1,999
• After-tax cash flow: $7,812/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: Penns Grove-Carneys Point Regional School District
• NCES district ID: 3412840
• Math proficiency: 6% ▼ -16.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $44,930
• Composite: 11.98/100
• National rank: #9665
• State rank: #462 of 472 in NJ

Livability — Carneys Point

• Score: 57/100
• State rank: #515
• US rank: #21958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carneys Point, NJ
• County: Salem County · 24,175 people
• City population: 13,413
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,413
• Household income: $71,942
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 696.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 22% Black 22% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.07%
• Current HPI: 290.3853
• Rent YoY: —
• 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

+495.2% since first listed

6 events — show timeline

• 2026-05-16 Price Changed $125,000 BRIGHT MLS
• 2026-04-10 Listed $130,000 BRIGHT MLS
• 2006-07-07 Sold (Public Records) $98,000 Public Records
• 2006-06-30 Sold (MLS) $98,000 BRIGHT MLS
• 2006-03-05 Listed $98,000 BRIGHT MLS
• 1979-04-27 Sold (Public Records) $21,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $2,089 · -15.9% YoY. Source: county tax records.