812 E Elmer St · Vineland, NJ 08360

$330,000

4 bd · 0.0 ba · 1,649 sqft · MultiFamily public records · 131 Days on market

Built 1925 5,001 sqft lot Est $280k · 18% over

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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 +26.0/30.0
• DSCR +8.7/10.0
• 1% rule +6.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Very nice location, 1 - 1 room apt on 1st floor, another unit on 1st floor currently used commercially for a barber shop, 2 bedroom apartment on 2nd floor. Owner provides gas heat for entire building and pays electric. Barber would leave all equipment except barber chair. New heat/AC and windows and vinyl siding.

Key facts

• 5,001 sq ft lot
• Built 1925
• Listed 130 days

Property features AI

Finance

• Financial info: Fee simple ownership; Assessor improvement value reported; Assessor land value reported; Tax assessed value reported (2025)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric hot water; Natural gas for heating and cooling
• Home design: Detached structure; Frame construction
• Construction: Frame construction; Block foundation; Above-grade and below-grade structures noted
• Exterior features: Lot dimensions approximately 50 x 100; No tidal water

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (natural gas); Electric hot water
• Interior features: Assessor-reported above-grade finished area of 1,649

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive. Per door: $410/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.5% in Vineland — 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 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, schools D, crime F.
• Vineland Public School District (urban): math 9% / reading 34% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 173 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• At $3,795/mo this rent would consume 70% of the median local household income ($65k/yr) (locally 1328% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $29k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.15% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $280,330
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
636 E Pear St	0.34mi	3/— (-1)	1,588 (-4%)	5mo	$315,000	$198	68
3 N State St	0.34mi	3/2.0 (-1)	1,622 (-2%)	5mo	$305,000	$188	64
1021 New Pear St	0.39mi	3/— (-1)	1,802 (+9%)	11mo	$250,000	$139	52
14 N Myrtle St	0.23mi	3/2.0 (-1)	1,474 (-11%)	16mo	$250,000	$170	46
916 E Cherry St	0.38mi	3/— (-1)	1,424 (-14%)	17mo	$200,000	$140	40

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-1,233
• Equity at exit: $49,204

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $66,179
• Equity at exit: $28,532

Cash invested: $92,400 (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 08360

• Active inventory: 173
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,795 medium
• Mortgage (P&I): −$1,731
• Tax from tax record: −$310 /mo · $3,716/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$797
• Net cashflow: $820

Break-even live

Break-even rent $2,757

Max offer price $330,000

Occupancy floor 73%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,755
1× unit	3	1	$2,040
Total (2 units)			$3,795

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $330,000 Active 131 DOM
2. 2026-06-18
   days on market $330,000 Active 130 DOM
3. 2026-06-17
   days on market $330,000 Active 129 DOM
4. 2026-06-16
   days on market $330,000 Active 128 DOM
5. 2026-06-15
   days on market $330,000 Active 127 DOM
6. 2026-06-14
   days on market $330,000 Active 125 DOM
7. 2026-06-13
   days on market $330,000 Active 124 DOM
8. 2026-06-10
   days on market $330,000 Active 122 DOM
9. 2026-06-09
   days on market $330,000 Active 121 DOM
10. 2026-06-08
    days on market $330,000 Active 120 DOM
11. 2026-06-07
    days on market $330,000 Active 119 DOM
12. 2026-06-03
    days on market $330,000 Active 115 DOM
13. 2026-06-02
    days on market $330,000 Active 114 DOM
14. 2026-06-01
    days on market $330,000 Active 113 DOM
15. 2026-05-31
    days on market $330,000 Active 112 DOM
16. 2026-05-30
    days on market $330,000 Active 111 DOM
17. 2026-04-01
    price $330,000
18. 2026-02-09
    listed $359,000 Active
19. 2026-02-06
    historical $359,000
20. 2021-09-16
    historical 314-char remark

    Show marketing remark (314 chars)

    Very nice location, 1 - 1 room apt on 1st floor, another unit on 1st floor currently used commercially for a barber shop, 2 bedroom apartment on 2nd floor. Owner provides gas heat for entire building and pays electric. Barber would leave all equipment except barber chair. New heat/AC and windows and vinyl siding.

21. 2021-07-15
    historical
22. 2020-09-18
    listed $139,900 Active
23. 2020-09-15
    listed $139,900 Active 314-char remark

    Show marketing remark (314 chars)

    Very nice location, 1 - 1 room apt on 1st floor, another unit on 1st floor currently used commercially for a barber shop, 2 bedroom apartment on 2nd floor. Owner provides gas heat for entire building and pays electric. Barber would leave all equipment except barber chair. New heat/AC and windows and vinyl siding.

ⓘ 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: $3,716 · $310/mo
• Projected year-2 tax: $5,967 · $497/mo
• Expected delta: +$2,250/yr (+$188/mo · 60.6%)

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

Taxation est. · year 1

• Rental income: $45,540
• − Mortgage interest: −$18,485
• − Property taxes: −$3,716
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,643
• − Management: −$3,643
• − Depreciation: −$9,600
• Taxable income: $4,802
• Est. tax owed @ 24.0%: −$1,153
• After-tax cash flow: $8,691/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: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• County: Cumberland County · 80,266 people
• City population: 45,038
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 45,038
• Household income: $65,359
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1328.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 51% White 32% Two or more races 17% Black 11% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 33% Dominican 2%
• Common ancestry: Romanian 2% Subsaharan African 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 37% Russian/Polish/Slavic 2% Other Indo-European 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -320.06%
• Current HPI: 278.786
• Rent YoY: —
• Metro: Vineland-Bridgeton, NJ
• 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

+135.9% since first listed

7 events — show timeline

• 2026-04-01 Price Changed $330,000 BRIGHT MLS
• 2026-02-09 Listed $359,000 BRIGHT MLS
• 2026-02-06 Coming Soon $359,000 BRIGHT MLS
• 2021-09-16 Listing Removed — SJSRMLS
• 2021-07-15 Listing Removed — BRIGHT MLS
• 2020-09-18 Listed $139,900 BRIGHT MLS
• 2020-09-15 Listed $139,900 SJSRMLS