118 W Collins Ct

Glendora, NJ 08012

$257,500C-

3 bd · 2.5 ba · 2,052 sqft · Built 1967 · Townhouse · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,584/mo
• Mortgage (P&I): −$1,350
• Tax + insurance: −$616
• HOA: −$0
• Vac / Maint / Mgmt: −$543
• Net cashflow: $75/mo
• Annual: $899/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• 1% rule: 1.00%
• Cash to close: $72,100

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $258k.
• At list price, monthly cash flow is $75 ($899/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $258k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#167 in NJ, #4,394 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment A-; Watch: amenities F, commute F.
• Gloucester Township Public Schools (suburban): math 14% / reading 41% proficiency, ranked #351 of 472 in NJ (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Triton Regional High School (math 9% / reading 42%, grade F, #321 of 399 statewide, top 81%, 1,132 students, 29% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 174 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 7 sale attempts since 9y 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 $76k; list at $258k implies a 239% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 58% 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.
• Cap rate 6.6% vs local median 3.9% in Glendora — 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.
• This rent runs 32% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.