1 Dixie Dr · Penns Grove, NJ 08069

$229,777

4 bd · 1.0 ba · 1,129 sqft · SingleFamily public records · 8 Days on market

Built 1950 0.26 ac lot Est $238k · at est.

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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 +21.5/30.0
• ARV discount +9.1/15.0
• DSCR +6.9/10.0
• 1% rule +6.1/10.0
• 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

Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

Key facts

• 0.26 acre lot
• 2 parking spots
• Built 1950

Property features AI

Exterior

• Parking: Driveway parking for 2 vehicles; Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Estimated effective year of major renovation: 2026; Fee simple ownership
• Construction: Brick construction; Crawl space foundation; Above-grade and below-grade structures noted
• Exterior features: Corner lot location; Not in a federal flood zone; No tidal water

Interior

• Kitchen: Electric oven/range
• Bedrooms: Two bedrooms on the main level; Two bedrooms on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Not furnished; Excellent condition

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 8.1% vs local median 6.0% in Penns Grove — 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 (#519 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A-; Watch: schools F, crime F, 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; 2 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% 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 $2k of loan paydown is wiped out by about $7k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y 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 $135k; list at $230k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $229,777

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.11% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $238,219
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Dixie Dr	0.02mi	4/1.0	1,142 (+1%)	0mo	$260,000	$228	97
112 Snow Drop Ln	0.15mi	3/1.0 (-1)	1,184 (+5%)	5mo	$235,000	$198	75
116 Lotus Ln	0.24mi	3/1.0 (-1)	1,184 (+5%)	2mo	$250,000	$211	74
104 Wisteria	0.10mi	3/1.0 (-1)	1,008 (-11%)	4mo	$240,000	$238	69
329 Wilson Ave	0.57mi	3/1.5 (-1)	1,124 (-0%)	0mo	$235,000	$209	66
289 C St	0.70mi	3/1.0 (-1)	1,104 (-2%)	5mo	$225,000	$204	54
252 G St	0.56mi	3/1.0 (-1)	1,014 (-10%)	1mo	$240,000	$237	51
311 Tyler Ave	0.41mi	3/2.0 (-1)	1,248 (+10%)	5mo	$305,000	$244	50
322 Green Ave	0.57mi	3/1.0 (-1)	1,006 (-11%)	2mo	$210,000	$209	48
262 Laurel St	0.63mi	3/1.0 (-1)	1,038 (-8%)	5mo	$182,000	$175	48
279 Logwood Ave	0.50mi	3/1.0 (-1)	1,281 (+14%)	3mo	$199,900	$156	47
68 E Harmony St	0.68mi	3/2.0 (-1)	1,237 (+10%)	0mo	$340,000	$275	43

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: -6.3%
• Equity multiple: 0.76×
• Total profit: $-15,137
• Equity at exit: $34,260

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $15,515
• Equity at exit: $19,867

Cash invested: $64,338 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,549 medium
• Mortgage (P&I): −$1,205
• Tax from tax record: −$368 /mo · $4,412/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $346

Break-even live

Break-even rent $2,112

Max offer price $229,777

Occupancy floor 81%

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: $57,444
• Closing costs: $6,893
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.59mi
79 Delaware Ave Penns Grove, NJ	3.0	1.0	1300	$1,900	$1.46	1d	1	1.19mi

Listing history 26 events

1. 2026-06-04
   status $229,777 Pending 8 DOM
2. 2026-06-03
   days on market $229,777 Active 8 DOM
3. 2026-06-02
   days on market $229,777 Active 7 DOM
4. 2026-06-01
   days on market $229,777 Active 6 DOM
5. 2026-05-31
   days on market $229,777 Active 5 DOM
6. 2026-05-26
   listed $229,777 Active
7. 2025-06-05
   historical
8. 2025-05-29
   price $240,000
9. 2025-05-07
   listed $265,000 Active
10. 2021-06-07
    soldstatus $135,000
11. 2021-05-04
    soldstatus $135,000 Closed 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

12. 2021-03-25
    status Pending 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

13. 2021-03-20
    price $135,800 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

14. 2021-02-25
    price $140,000 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

15. 2021-02-25
    price $144,900 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

16. 2021-02-24
    price $140,000 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

17. 2021-02-07
    listed $144,900 Active 351-char remark

    Show marketing remark (351 chars)

    Adorable, newly remodeled, home in Penns Grove. New roof, new appliances, newer water heather, new kitchen and bath, and fresh paint through out! Owner also just had original hardwood floors refinished. This home is conveniently located near local shops , quick access to major highways and walking distance to both the middle school and high school.

18. 2008-08-07
    soldstatus $110,000
19. 2008-07-25
    soldstatus $110,000
20. 2008-06-23
    historical
21. 2008-06-12
    listed $94,900
22. 2003-03-26
    soldstatus $66,000
23. 2003-03-19
    soldstatus $66,000
24. 2003-01-13
    historical
25. 2002-10-09
    listed $66,000
26. 1997-10-01
    soldstatus $201,300

ⓘ 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: $4,412 · $368/mo
• Projected year-2 tax: $5,067 · $422/mo
• Expected delta: +$655/yr (+$55/mo · 14.8%)

ⓘ 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) · 69% 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: $30,591
• − Mortgage interest: −$12,871
• − Property taxes: −$4,412
• − Insurance: −$1,149
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − Depreciation: −$6,684
• Taxable income: $580
• Est. tax owed @ 24.0%: −$139
• After-tax cash flow: $4,007/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 — Penns Grove

• Score: 57/100
• State rank: #519
• US rank: #22190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Penns Grove, NJ
• County: Salem County · 24,175 people
• 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

+14.1% since first listed

21 events — show timeline

• 2026-05-26 Listed $229,777 BRIGHT MLS
• 2025-06-05 Listing Removed — BRIGHT MLS
• 2025-05-29 Price Changed $240,000 BRIGHT MLS
• 2025-05-07 Listed $265,000 BRIGHT MLS
• 2021-06-07 Sold (Public Records) $135,000 Public Records
• 2021-05-04 Sold (MLS) $135,000 BRIGHT MLS
• 2021-03-25 Pending — BRIGHT MLS
• 2021-03-20 Price Changed $135,800 BRIGHT MLS
• 2021-02-25 Price Changed $140,000 BRIGHT MLS
• 2021-02-25 Price Changed $144,900 BRIGHT MLS
• 2021-02-24 Price Changed $140,000 BRIGHT MLS
• 2021-02-07 Listed $144,900 BRIGHT MLS
• 2008-08-07 Sold (Public Records) $110,000 Public Records
• 2008-07-25 Sold (MLS) $110,000 BRIGHT MLS
• 2008-06-23 Listing Removed — BRIGHT MLS
• 2008-06-12 Listed $94,900 BRIGHT MLS
• 2003-03-26 Sold (Public Records) $66,000 Public Records
• 2003-03-19 Sold (MLS) $66,000 BRIGHT MLS
• 2003-01-13 Listing Removed — BRIGHT MLS
• 2002-10-09 Listed $66,000 BRIGHT MLS
• 1997-10-01 Sold (Public Records) $201,300 Public Records

Property tax history

+1.4%/yr

Latest (2025): $4,412 · +1.9% YoY. Source: county tax records.