727 Black Horse Pike Apt 2-2 #2-2 · Pleasantville, NJ 08232

$129,900

1 bd · 1.0 ba · 670 sqft · Condo · 45 Days on market

Fair condition $190/mo HOA · 12% of rent

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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 +22.4/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful, Convenient, this unique 2 townhouse has 1 bedroom, 1 bath and a walk in closet and a private balcony deck. Also has plenty of storage and an open floor plan. Bus stops in front of complex. Dining and shopping WITHIN WALKING DISTANCE. Excellent Rental Investment, or Stop Renting and Own Your Own Place!. .. Great Tenant. Lease Expires 7/31/25

Key facts

• Open floor plan
• Plenty of storage
• Walk in closet

Tags

• WALK IN CLOSET
• PRIVATE BALCONY DECK
• PLENTY OF STORAGE
• OPEN FLOOR PLAN

Property features AI

Finance

• Other: No pets allowed
• HOA & community: Monthly association fee of $190; Association fees cover management, trash, and water; Association management provided by on-site professionals

Exterior

• Parking: One exterior parking space; No garage
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Condo unit in Newtown Square; 2-story unit; Unit spans 2 levels; Property listed for sale; 25+ years old
• Construction: Stucco and vinyl exterior
• Exterior features: Stucco and vinyl siding; No waterfront

Interior

• Kitchen: Electric stove; Dishwasher; Disposal; Refrigerator
• Bedrooms: Bedroom located on upper level
• Bathrooms: 1 full bathroom (upper level)
• Heating & cooling: Central air conditioning; Forced air heating; Heat pump
• Interior features: Blinds; Storage attic
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.5% in Pleasantville — 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 73/100 on livability (#194 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+; Watch: crime C-, schools F, amenities F.
• Pleasantville Public School District (suburban): math 6% / reading 28% proficiency, ranked #451 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.27% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 6.6

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-7,164
• Equity at exit: $19,369

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $12,035
• Equity at exit: $11,231

Cash invested: $36,372 (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 08232

• Home prices YoY: -17.3%
• Active inventory: 84
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$190
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $216

Break-even live

Break-even rent $1,377

Max offer price $129,900

Occupancy floor 82%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 W Ridgewood Ave Pleasantville, NJ	1.0–3.0	1.0–1.5	905	$1,650	$1.82	20d	1	0.89mi
301 W Delilah Rd Pleasantville, NJ	1.0	1.0	528	$1,650	$3.12	20d	1	1.44mi

HOA detail condo

• Monthly dues: $190 · $2,280/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-19
   days on market $129,900 Under Contract 45 DOM
2. 2026-06-18
   days on market $129,900 Under Contract 44 DOM
3. 2026-06-17
   days on market $129,900 Under Contract 43 DOM
4. 2026-06-16
   days on market $129,900 Under Contract 42 DOM
5. 2026-06-15
   status $129,900 Under Contract 41 DOM
6. 2026-06-15
   days on market $129,900 Active 41 DOM
7. 2026-06-14
   days on market $129,900 Active 39 DOM
8. 2026-06-13
   days on market $129,900 Active 38 DOM
9. 2026-06-10
   days on market $129,900 Active 36 DOM
10. 2026-06-09
    days on market $129,900 Active 35 DOM
11. 2026-06-08
    days on market $129,900 Active 34 DOM
12. 2026-06-07
    days on market $129,900 Active 33 DOM
13. 2026-06-03
    days on market $129,900 Active 29 DOM
14. 2026-06-02
    days on market $129,900 Active 28 DOM
15. 2026-06-01
    days on market $129,900 Active 27 DOM
16. 2026-05-31
    days on market $129,900 Active 26 DOM
17. 2026-05-30
    days on market $129,900 Active 25 DOM
18. 2026-05-05
    listed $129,900 Active 319-char remark
19. 2026-04-01
    historical 353-char remark

    Show marketing remark (353 chars)

    Beautiful, Convenient, this unique 2 townhouse has 1 bedroom, 1 bath and a walk in closet and a private balcony deck. Also has plenty of storage and an open floor plan. Bus stops in front of complex. Dining and shopping WITHIN WALKING DISTANCE. Excellent Rental Investment, or Stop Renting and Own Your Own Place!. .. Great Tenant. Lease Expires 7/31/25

20. 2025-09-24
    price $109,900 353-char remark

    Show marketing remark (353 chars)

    Beautiful, Convenient, this unique 2 townhouse has 1 bedroom, 1 bath and a walk in closet and a private balcony deck. Also has plenty of storage and an open floor plan. Bus stops in front of complex. Dining and shopping WITHIN WALKING DISTANCE. Excellent Rental Investment, or Stop Renting and Own Your Own Place!. .. Great Tenant. Lease Expires 7/31/25

21. 2025-03-18
    listed $119,900 Active 353-char remark

    Show marketing remark (353 chars)

    Beautiful, Convenient, this unique 2 townhouse has 1 bedroom, 1 bath and a walk in closet and a private balcony deck. Also has plenty of storage and an open floor plan. Bus stops in front of complex. Dining and shopping WITHIN WALKING DISTANCE. Excellent Rental Investment, or Stop Renting and Own Your Own Place!. .. Great Tenant. Lease Expires 7/31/25

22. 2015-08-23
    historical

    Show marketing remark (198 chars)

    Beautiful and unique designed 1 bedroom - 1 bath 2 story townhouse condo. Convenient to shopping and public transportation. Currently tenant occupied at $917 per month. Need 24+ hour notice to show.

23. 2014-08-22
    listed $59,900 Active

    Show marketing remark (198 chars)

    Beautiful and unique designed 1 bedroom - 1 bath 2 story townhouse condo. Convenient to shopping and public transportation. Currently tenant occupied at $917 per month. Need 24+ hour notice to show.

ⓘ 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: $19,800
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$2,280
• − Depreciation: −$3,779
• Taxable income: $699
• Est. tax owed @ 24.0%: −$168
• After-tax cash flow: $2,422/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 · 7 photos

Fair 45/100 Moderate rehab

This 2-floor townhouse requires moderate repairs and maintenance, including painting and landscaping. With some updates, it has the potential to be a good rental investment or a move-in-ready property.

Repairs flagged

• Moderate Exterior siding — The siding shows signs of discoloration and minor wear.
• Minor Landscaping — The landscaping is overgrown and could benefit from trimming and maintenance.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home, both for resale and rental.
• Both Trim and maintain landscaping — A well-maintained exterior can enhance curb appeal and potentially increase the home's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · The siding shows signs of discoloration and minor wear.	Moderate	$3,000–15,000
Landscaping · The landscaping is overgrown and could benefit from trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home, both for resale and rental. ↑
• Both Trim and maintain landscaping — A well-maintained exterior can enhance curb appeal and potentially increase the home's value. ↑

ⓘ 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: Pleasantville Public School District
• NCES district ID: 3413200
• Math proficiency: 6% ▼ -11.00%
• Reading proficiency: 28% ▲ 1.00%
• Median HH income: $39,569
• Composite: 14.34/100
• National rank: #9440
• State rank: #451 of 472 in NJ

Livability — Pleasantville

• Score: 73/100
• State rank: #194
• US rank: #5487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasantville, NJ
• Population (ZIP): 20,200

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 52% Black 33% Two or more races 22% White 6% Asian 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 12% Dominican 14%
• Common ancestry: Hispanic 1%
• Foreign-born: 30% · Canada, Jamaica, Vietnam
• Languages at home: 44% English-only · Spanish 48% French/Haitian/Cajun 5% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.51%
• Current HPI: 346.2085
• 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

+116.9% since first listed

7 events — show timeline

• 2026-06-15 Contingent — SJSRMLS
• 2026-05-05 Listed $129,900 SJSRMLS
• 2026-04-01 Listing Removed — SJSRMLS
• 2025-09-24 Price Changed $109,900 SJSRMLS
• 2025-03-18 Listed $119,900 SJSRMLS
• 2015-08-23 Listing Removed — SJSRMLS
• 2014-08-22 Listed $59,900 SJSRMLS