200 State Rt 94 #249 · Vernon, NJ 07462-3323

$194,900

1 bd · 1.0 ba · 691 sqft · Condo · 122 Days on market

Built 2003 Good condition $735/mo HOA · 32% of rent

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Why this score? — see what drove the D 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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• 1% rule +6.8/10.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• DSCR +1.4/10.0

Listing remarks MLS

Welcome to The Appalachian Hotel your perfect mountain getaway in the heart of Vernon, NJ! This beautifully appointed condo offers a blend of comfort, convenience, and year-round enjoyment, making it an excellent retreat or investment opportunity. Fully furnished for a seamless move-in experience, this inviting oversized unit features a well-designed living area with a sleeper sofa, flat-screen TV, and a cozy gas fireplace perfect for unwinding after a day on the slopes or trails. The kitchen is equipped with a fridge, microwave, and cooktop, providing everything you need for easy meal prep. Step onto your private balcony to relax and enjoy the fresh air. As an owner, you'll enjoy access to top-tier amenities, including a heated outdoor pool, hot tub, and fitness center. Located at the base of Mountain Creek Ski Resort, adventure awaits, whether it's skiing, snowboarding, hiking, or mountain biking. Plus, you're just a short drive from Crystal Springs Resort, offering golf, spas, and fine dining. Don't miss this opportunity to own a piece of paradise at The Appalachian Hotel! HOA Fee Includes: Electric, Common Area Maintenance, Exterior Maintenance, Snow Removal, Trash Collection, Water Fees, TV & Internet. Added Bonus. As part of the sale, the seller has paid for the 1st phase of the proposed construction.

Key facts

• Fitness center
• Hot tub
• Access to amenities

Tags

• PRIVATE BALCONY
• HEATED OUTDOOR POOL
• HOT TUB
• FITNESS CENTER
• ACCESS TO AMENITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (19.4% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $157k (19.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Vernon Township School District (rural): math 18% / reading 45% proficiency, ranked #294 of 472 in NJ (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 12 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 184 units permitted in Sussex County in 2024 (18 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Sussex County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $157,069 (19.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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. 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. 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?
8. 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.
9. 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.
10. 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: 1.18% ✓
• Cap rate: 4.68%
• Cash-on-cash: -5.75%
• DSCR: 0.74
• GRM: 7.0

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: 2.3%
• Equity multiple: 1.13×
• Total profit: $7,314
• Equity at exit: $87,635

10-year hold

• IRR: 6.0%
• Equity multiple: 1.92×
• Total profit: $50,071
• Equity at exit: $135,057

Cash invested: $54,572 (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 07462-3323

• Active inventory: 12
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,304 medium
• Mortgage (P&I): −$1,022
• Tax est. 1.5%: −$244 /mo · $2,924/yr
• Insurance: −$81
• HOA: −$735
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $-261

Break-even live

Break-even rent $2,635

Max offer price $157,069

Occupancy floor —

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Stonehill Dr #1 Vernon, NJ	2.0	1.0	748	$2,100	$2.81	43d	1	0.77mi
7 Theta Dr Apt 311 Vernon Township, NJ	1.0	1.0	715	$2,475	$3.46	43d	1	1.14mi
7 Theta Dr Apt 211 Vernon Township, NJ	1.0	1.0	715	$2,425	$3.39	43d	1	1.14mi

HOA detail condo

• Monthly dues: $735 · $8,820/yr
• Likely covers: watertrashgaselectricinternetsnow removalexterior maint.poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $194,900 Active 122 DOM
2. 2026-06-17
   days on market $194,900 Active 121 DOM
3. 2026-06-16
   days on market $194,900 Active 120 DOM
4. 2026-06-15
   days on market $194,900 Active 119 DOM
5. 2026-06-14
   days on market $194,900 Active 117 DOM
6. 2026-06-13
   days on market $194,900 Active 116 DOM
7. 2026-06-10
   days on market $194,900 Active 114 DOM
8. 2026-06-09
   days on market $194,900 Active 113 DOM
9. 2026-06-08
   days on market $194,900 Active 112 DOM
10. 2026-06-07
    days on market $194,900 Active 111 DOM
11. 2026-06-05
    days on market $194,900 Active 108 DOM
12. 2026-06-03
    days on market $194,900 Active 107 DOM
13. 2026-06-02
    days on market $194,900 Active 106 DOM
14. 2026-06-01
    days on market $194,900 Active 105 DOM
15. 2026-05-31
    days on market $194,900 Active 104 DOM
16. 2026-05-30
    days on market $194,900 Active 103 DOM
17. 2026-04-18
    price $199,900 1333-char remark

    Show marketing remark (1333 chars)

    Welcome to The Appalachian Hotel your perfect mountain getaway in the heart of Vernon, NJ! This beautifully appointed condo offers a blend of comfort, convenience, and year-round enjoyment, making it an excellent retreat or investment opportunity. Fully furnished for a seamless move-in experience, this inviting oversized unit features a well-designed living area with a sleeper sofa, flat-screen TV, and a cozy gas fireplace perfect for unwinding after a day on the slopes or trails. The kitchen is equipped with a fridge, microwave, and cooktop, providing everything you need for easy meal prep. Step onto your private balcony to relax and enjoy the fresh air. As an owner, you'll enjoy access to top-tier amenities, including a heated outdoor pool, hot tub, and fitness center. Located at the base of Mountain Creek Ski Resort, adventure awaits, whether it's skiing, snowboarding, hiking, or mountain biking. Plus, you're just a short drive from Crystal Springs Resort, offering golf, spas, and fine dining. Don't miss this opportunity to own a piece of paradise at The Appalachian Hotel! HOA Fee Includes: Electric, Common Area Maintenance, Exterior Maintenance, Snow Removal, Trash Collection, Water Fees, TV & Internet. Added Bonus. As part of the sale, the seller has paid for the 1st phase of the proposed construction.

18. 2026-04-18
    status Active 1333-char remark

    Show marketing remark (1333 chars)

    Welcome to The Appalachian Hotel your perfect mountain getaway in the heart of Vernon, NJ! This beautifully appointed condo offers a blend of comfort, convenience, and year-round enjoyment, making it an excellent retreat or investment opportunity. Fully furnished for a seamless move-in experience, this inviting oversized unit features a well-designed living area with a sleeper sofa, flat-screen TV, and a cozy gas fireplace perfect for unwinding after a day on the slopes or trails. The kitchen is equipped with a fridge, microwave, and cooktop, providing everything you need for easy meal prep. Step onto your private balcony to relax and enjoy the fresh air. As an owner, you'll enjoy access to top-tier amenities, including a heated outdoor pool, hot tub, and fitness center. Located at the base of Mountain Creek Ski Resort, adventure awaits, whether it's skiing, snowboarding, hiking, or mountain biking. Plus, you're just a short drive from Crystal Springs Resort, offering golf, spas, and fine dining. Don't miss this opportunity to own a piece of paradise at The Appalachian Hotel! HOA Fee Includes: Electric, Common Area Maintenance, Exterior Maintenance, Snow Removal, Trash Collection, Water Fees, TV & Internet. Added Bonus. As part of the sale, the seller has paid for the 1st phase of the proposed construction.

19. 2026-03-18
    historical 1333-char remark

    Show marketing remark (1333 chars)

    Welcome to The Appalachian Hotel your perfect mountain getaway in the heart of Vernon, NJ! This beautifully appointed condo offers a blend of comfort, convenience, and year-round enjoyment, making it an excellent retreat or investment opportunity. Fully furnished for a seamless move-in experience, this inviting oversized unit features a well-designed living area with a sleeper sofa, flat-screen TV, and a cozy gas fireplace perfect for unwinding after a day on the slopes or trails. The kitchen is equipped with a fridge, microwave, and cooktop, providing everything you need for easy meal prep. Step onto your private balcony to relax and enjoy the fresh air. As an owner, you'll enjoy access to top-tier amenities, including a heated outdoor pool, hot tub, and fitness center. Located at the base of Mountain Creek Ski Resort, adventure awaits, whether it's skiing, snowboarding, hiking, or mountain biking. Plus, you're just a short drive from Crystal Springs Resort, offering golf, spas, and fine dining. Don't miss this opportunity to own a piece of paradise at The Appalachian Hotel! HOA Fee Includes: Electric, Common Area Maintenance, Exterior Maintenance, Snow Removal, Trash Collection, Water Fees, TV & Internet. Added Bonus. As part of the sale, the seller has paid for the 1st phase of the proposed construction.

20. 2026-01-16
    listed $184,000 Active 1333-char remark

    Show marketing remark (1333 chars)

    Welcome to The Appalachian Hotel your perfect mountain getaway in the heart of Vernon, NJ! This beautifully appointed condo offers a blend of comfort, convenience, and year-round enjoyment, making it an excellent retreat or investment opportunity. Fully furnished for a seamless move-in experience, this inviting oversized unit features a well-designed living area with a sleeper sofa, flat-screen TV, and a cozy gas fireplace perfect for unwinding after a day on the slopes or trails. The kitchen is equipped with a fridge, microwave, and cooktop, providing everything you need for easy meal prep. Step onto your private balcony to relax and enjoy the fresh air. As an owner, you'll enjoy access to top-tier amenities, including a heated outdoor pool, hot tub, and fitness center. Located at the base of Mountain Creek Ski Resort, adventure awaits, whether it's skiing, snowboarding, hiking, or mountain biking. Plus, you're just a short drive from Crystal Springs Resort, offering golf, spas, and fine dining. Don't miss this opportunity to own a piece of paradise at The Appalachian Hotel! HOA Fee Includes: Electric, Common Area Maintenance, Exterior Maintenance, Snow Removal, Trash Collection, Water Fees, TV & Internet. Added Bonus. As part of the sale, the seller has paid for the 1st phase of the proposed construction.

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

Taxation est. · year 1

• Rental income: $27,653
• − Mortgage interest: −$10,917
• − Property taxes: −$2,924
• − Insurance: −$974
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − HOA: −$8,820
• − Depreciation: −$5,670
• Taxable loss: −$6,077
• Est. tax savings @ 24.0%: +$1,458
• After-tax cash flow: $-1,679/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 None rehab

This fully furnished and well-maintained condo is ready for immediate occupancy and offers a perfect mountain getaway.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Reorganizing furniture in living room — Optimizes space and enhances comfort
• Both Upgrading kitchen appliances — Improves functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Reorganizing furniture in living room — Optimizes space and enhances comfort ↑
• Both Upgrading kitchen appliances — Improves functionality and appeal ↑

ⓘ 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: Vernon Township School District
• NCES district ID: 3416710
• Math proficiency: 18% ▼ -26.00%
• Reading proficiency: 45% ▼ -13.00%
• Median HH income: $84,455
• Composite: 30.63/100
• National rank: #6188
• State rank: #294 of 472 in NJ

Livability — Vernon

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Vernon Center, NJ

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 133,413 people
• By 2030: 127,324 · -4.6%
• By 2040: 113,987 · -14.6%
• By 2050: 100,391 · -24.8%
• By 2075: 78,063 · -41.5%
• By 2100: 62,346 · -53.3%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+8.6% since first listed

4 events — show timeline

• 2026-04-18 Price Changed $199,900 GSMLS
• 2026-04-18 Relisted — GSMLS
• 2026-03-18 Delisted — GSMLS
• 2026-01-16 Listed $184,000 GSMLS