10 Homestead Unit C · Crestwood Village, NJ 08759

$123,500

2 bd · 1.0 ba · 797 sqft · Condo · 36 Days on market

Built 1960 Good condition $285/mo HOA · 14% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently renovated 2-bedroom, 1-bath co-op offers a fantastic opportunity for immediate move-in. The home features a thoughtfully expanded kitchen equipped with stainless steel appliances, plus brand-new windows and a new hot water heater for peace of mind. High-quality new LVP flooring flows through the living areas, complemented by cozy new carpet in theprimary bedroom, including large walk-in closet. Updated full bath and modern finishes throughout, this comfortable space is designed for a low-maintenance lifestyle. Just unpack and relax--schedule your showing today!'' The community boasts amenities such as a clubhouse, exercise room, and library. This location is conveniently situated near stores, restaurants, and the beach.

Key facts

• New hot water heater
• Expanded kitchen
• New lvp flooring

Tags

• EXPANDED KITCHEN
• STAINLESS STEEL APPLIANCES
• NEW WINDOWS
• NEW HOT WATER HEATER
• NEW LVP FLOORING
• LARGE WALK-IN CLOSET

Property features AI

Finance

• Other: Property located in a rural area; Cross street: Columbus Blvd; Directions available
• HOA & community: Monthly cooperative fee of $285; Fee covers common area maintenance and taxes; Owner/self-managed association; Community amenities include community center, exercise room, and library; Senior community (55+)

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric service available; Hot water: electric
• Home design: Cooperative ownership; Estimated year built; Single-level living (rooms listed on main level)
• Construction: Crawl space foundation
• Exterior features: Backs to trees; Rear yard; Trees/wooded setting; Above grade other structures

Interior

• Kitchen: Kitchen
• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Baseboard electric heating; Wall unit cooling; Other cooling (electric)
• Interior features: Living room; Sun/Florida room; Laundry on main floor; No basement
• Laundry & utility: Main floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $124k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $120k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 5.6% in Crestwood Village — 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 63/100 on livability (#422 in NJ) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, health & safety B+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $854 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $124k implies a 312% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,795 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.66% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.66%
• DSCR: 1.74
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $10,768
• Equity at exit: $18,414

10-year hold

• IRR: 17.3%
• Equity multiple: 2.43×
• Total profit: $49,582
• Equity at exit: $10,678

Cash invested: $34,580 (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 08759

• Active inventory: 648
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,049 medium
• Mortgage (P&I): −$648
• Tax est. 1.5%: −$154 /mo · $1,852/yr
• Insurance: −$51
• HOA: −$285
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $480

Break-even live

Break-even rent $1,441

Max offer price $123,500

Occupancy floor 72%

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: $30,875
• Closing costs: $3,705
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Westport Dr #71 Whiting, NJ	2.0	1.0	1120	$2,200	$1.96	1d	1	0.70mi
19B Maplewood Dr #52 Whiting, NJ	2.0	1.5	1109	$2,250	$2.03	16d	1	0.71mi
9A Juniper Ln Unit 50 Whiting, NJ	1.0	1.0	1009	$1,950	$1.93	43d	1	0.81mi
57D Milford Ave Unit 53 Whiting, NJ	2.0	1.0	880	$1,800	$2.05	24d	1	0.85mi

HOA detail condo

• Monthly dues: $285 · $3,420/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-07
   statusdays on market $123,500 Pending 36 DOM
2. 2026-06-04
   days on market $123,500 Active 35 DOM
3. 2026-06-03
   days on market $123,500 Active 34 DOM
4. 2026-06-02
   days on market $123,500 Active 33 DOM
5. 2026-06-01
   days on market $123,500 Active 32 DOM
6. 2026-05-31
   days on market $123,500 Active 31 DOM
7. 2026-04-30
   listed $123,500 Active 747-char remark

   Show marketing remark (740 chars)

   Recently renovated 2-bedroom, 1-bath co-op offers a fantastic opportunity for immediate move-in. The home features a thoughtfully expanded kitchen equipped with stainless steel appliances, plus brand-new windows and a new hot water heater for peace of mind. High-quality new LVP flooring flows through the living areas, complemented by cozy new carpet in theprimary bedroom, including large walk-in closet. Updated full bath and modern finishes throughout, this comfortable space is designed for a low-maintenance lifestyle. Just unpack and relax--schedule your showing today!'' The community boasts amenities such as a clubhouse, exercise room, and library. This location is conveniently situated near stores, restaurants, and the beach.

8. 2026-04-30
   listed $123,500 Active 740-char remark

   Show marketing remark (740 chars)

   Recently renovated 2-bedroom, 1-bath co-op offers a fantastic opportunity for immediate move-in. The home features a thoughtfully expanded kitchen equipped with stainless steel appliances, plus brand-new windows and a new hot water heater for peace of mind. High-quality new LVP flooring flows through the living areas, complemented by cozy new carpet in theprimary bedroom, including large walk-in closet. Updated full bath and modern finishes throughout, this comfortable space is designed for a low-maintenance lifestyle. Just unpack and relax--schedule your showing today!'' The community boasts amenities such as a clubhouse, exercise room, and library. This location is conveniently situated near stores, restaurants, and the beach.

9. 2025-08-23
   historical
10. 2025-08-15
    price $55,000
11. 2025-08-15
    price $55,000
12. 2025-06-27
    price $65,000
13. 2025-06-27
    price $65,000
14. 2025-05-20
    price $75,000
15. 2025-05-20
    status Active
16. 2025-05-20
    price $75,000
17. 2025-05-16
    historical
18. 2025-04-15
    listed $85,000 Active
19. 2025-04-15
    listed $85,000 Active
20. 2020-12-10
    soldstatus $30,000 Sold
21. 2020-11-14
    status Pending
22. 2020-10-06
    listed $31,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,585
• − Mortgage interest: −$6,918
• − Property taxes: −$1,852
• − Insurance: −$618
• − Repairs & maintenance: −$1,967
• − Management: −$1,967
• − HOA: −$3,420
• − Depreciation: −$3,593
• Taxable income: $4,251
• Est. tax owed @ 24.0%: −$1,020
• After-tax cash flow: $4,740/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This recently renovated 2-bedroom, 1-bath co-op is move-in ready with updated appliances, new windows, and a new hot water heater. It offers a low-maintenance lifestyle and is conveniently located with community amenities.

Value-add opportunities

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Replace outdoor lighting — Improves safety and curb appeal
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace outdoor lighting — Improves safety and curb appeal ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Crestwood Village

• Score: 63/100
• State rank: #422
• US rank: #15006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crestwood Village, NJ
• City population: 34,290
• Population (ZIP): 34,290

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.85%
• Current HPI: 274.4679
• Rent YoY: —
• Metro: —
• 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

+292.1% since first listed

18 events — show timeline

• 2026-06-05 Pending — BRIGHT MLS
• 2026-06-05 Pending — MOMLS
• 2026-04-30 Listed $123,500 MOMLS
• 2026-04-30 Listed $123,500 BRIGHT MLS
• 2025-08-23 Listing Removed — BRIGHT MLS
• 2025-08-15 Price Changed $55,000 BRIGHT MLS
• 2025-08-15 Price Changed $55,000 MOMLS
• 2025-06-27 Price Changed $65,000 BRIGHT MLS
• 2025-06-27 Price Changed $65,000 MOMLS
• 2025-05-20 Price Changed $75,000 BRIGHT MLS
• 2025-05-20 Relisted — BRIGHT MLS
• 2025-05-20 Price Changed $75,000 MOMLS
• 2025-05-16 Listing Removed — BRIGHT MLS
• 2025-04-15 Listed $85,000 MOMLS
• 2025-04-15 Listed $85,000 BRIGHT MLS
• 2020-12-10 Sold (MLS) $30,000 MOMLS
• 2020-11-14 Pending — MOMLS
• 2020-10-06 Listed $31,500 MOMLS