374 Manor Ave · Carneys Point, NJ 08069

$190,000

3 bd · 1.0 ba · 1,332 sqft · SingleFamily public records · 60 Days on market

Built 1945 6,299 sqft lot $143/sqft · 17% below area Est $230k · 17% under

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +7.2/10.0
• 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

INVESTER ALERT or First time home buyer. Nestled in the charming Golf Manor community, this 1945 Cape Cod home offers a blend of character and some modern updates, leaving room for you to add your own special touches. The property features a recently updated bathroom with a walk-in shower and newer vinyl plank flooring in the primary bedroom. The cozy living space includes plank flooring and an eat-in kitchen equipped with an electric oven/range, refrigerator, and microwave. Newer roofing shingles and updated windows. This three-bedroom home includes ceiling fans for year-round comfort and a versatile storage area off the main bedroom that could be converted into a laundry room. Additional storage is available in the basement and an outdoor shed. Heating and hotwater 2014 and serviced yearly. Last service Sept 2025. The 0.14-acre lot provides a manageable outdoor space within a friendly community close to parks, Sakima Golf Club, and Salem Community College. The location offers easy access to the NJ Turnpike and I-295, as well as tax-free shopping in nearby Delaware. Please note that the property is being sold in "as-is, where-is" condition. All inspections are for the buyer's information only, and the Certificate of Occupancy will be the buyer's responsibility prior to closing.

Key facts

• 6,299 sq ft lot
• 2 parking spots
• Built 1945

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 101 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 39% 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.22% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.39%
• DSCR: 1.42
• GRM: 6.8

CMA / ARV

• ARV (median comp): $229,621
• List price: $190,000
• Delta: -17.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
386 Manor Ave	0.07mi	3/1.0	1,416 (+6%)	9mo	$200,000	$141	79
384 Springfield Ave	0.08mi	4/2.0 (+1)	1,334 (+0%)	16mo	$273,000	$205	74
17 Maplewood Ave	0.38mi	3/1.5	1,384 (+4%)	2mo	$280,800	$203	72
18 Oakwood Ave	0.33mi	3/1.0	1,356 (+2%)	23mo	$235,000	$173	63
396 Manor Ave	0.12mi	3/2.0	1,510 (+13%)	10mo	$286,000	$189	59
462 Fairway Ct	0.31mi	3/1.0	1,409 (+6%)	22mo	$215,000	$153	58
31 Pinewood Ave	0.37mi	2/1.0 (-1)	1,244 (-7%)	15mo	$130,000	$105	54
341 Jefferson St	0.59mi	3/2.0	1,432 (+8%)	4mo	$200,000	$140	52
260 S Golfwood Ave	0.65mi	3/1.5	1,410 (+6%)	10mo	$310,000	$220	50
91 Fenton Dr	0.58mi	3/2.0	1,184 (-11%)	13mo	$320,000	$270	39

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-4,167
• Equity at exit: $28,330

10-year hold

• IRR: 7.7%
• Equity multiple: 1.58×
• Total profit: $30,924
• Equity at exit: $16,428

Cash invested: $53,200 (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: 101
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,320 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$341 /mo · $4,093/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $416

Break-even live

Break-even rent $1,793

Max offer price $190,000

Occupancy floor 77%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
258 Birch St Penns Grove, NJ	3.0	1.0	1114	$2,100	$1.89	10d	1	0.98mi

Listing history 14 events

1. 2026-06-18
   days on market $190,000 Active 60 DOM
2. 2026-06-17
   days on market $190,000 Active 59 DOM
3. 2026-06-16
   days on market $190,000 Active 58 DOM
4. 2026-06-15
   days on market $190,000 Active 57 DOM
5. 2026-06-13
   days on market $190,000 Active 55 DOM
6. 2026-06-09
   days on market $190,000 Active 51 DOM
7. 2026-06-08
   days on market $190,000 Active 50 DOM
8. 2026-06-07
   days on market $190,000 Active 49 DOM
9. 2026-06-04
   days on market $190,000 Active 46 DOM
10. 2026-06-03
    days on market $190,000 Active 45 DOM
11. 2026-06-02
    days on market $190,000 Active 44 DOM
12. 2026-06-01
    days on market $190,000 Active 43 DOM
13. 2026-05-31
    days on market $190,000 Active 42 DOM
14. 2026-04-20
    listed $190,000 Active 1310-char remark

    Show marketing remark (1310 chars)

    INVESTER ALERT or First time home buyer. Nestled in the charming Golf Manor community, this 1945 Cape Cod home offers a blend of character and some modern updates, leaving room for you to add your own special touches. The property features a recently updated bathroom with a walk-in shower and newer vinyl plank flooring in the primary bedroom. The cozy living space includes plank flooring and an eat-in kitchen equipped with an electric oven/range, refrigerator, and microwave. Newer roofing shingles and updated windows. This three-bedroom home includes ceiling fans for year-round comfort and a versatile storage area off the main bedroom that could be converted into a laundry room. Additional storage is available in the basement and an outdoor shed. Heating and hotwater 2014 and serviced yearly. Last service Sept 2025. The 0.14-acre lot provides a manageable outdoor space within a friendly community close to parks, Sakima Golf Club, and Salem Community College. The location offers easy access to the NJ Turnpike and I-295, as well as tax-free shopping in nearby Delaware. Please note that the property is being sold in "as-is, where-is" condition. All inspections are for the buyer's information only, and the Certificate of Occupancy will be the buyer's responsibility prior to closing.

ⓘ 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: $4,093 · $341/mo
• Projected year-2 tax: $4,412 · $368/mo
• Expected delta: +$319/yr (+$27/mo · 7.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $27,844
• − Mortgage interest: −$10,643
• − Property taxes: −$4,093
• − Insurance: −$950
• − Repairs & maintenance: −$2,227
• − Management: −$2,227
• − Depreciation: −$5,527
• Taxable income: $2,176
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $4,475/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

1 event — show timeline

• 2026-04-20 Listed $190,000 BRIGHT MLS

Property tax history

+1.8%/yr

Latest (2025): $4,093 · +6.2% YoY. Source: county tax records.