66 Sussex Ln #66 · Smithville, NJ 08205

$199,000

2 bd · 2.0 ba · 1,000 sqft · Condo · 81 Days on market

Built 1987 Fair condition $205/mo HOA · 10% of rent

---

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).

• Cash flow +13.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

$ 2 bed, 2bath condo. Recently updated. Tenant occupied, No rental restrictions. Tenant will go or stay With a 10% down payment the monthly payment would be about $1563.00 which is less than rent for 2 bedroom 2 bathroom apartment.

Key facts

• $205 HOA
• 2 parking spots
• Built 1987

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4 ($43/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.9% in Smithville — 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 64/100 on livability (#402 in NJ) — a middle-class / working-renter tenant base. Strengths: housing B; Watch: cost of living C-, amenities F, commute F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 240 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 81 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $157k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.01% ✓
• Cap rate: 6.31%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• GRM: 8.3

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-31,864
• Equity at exit: $29,672

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-26,821
• Equity at exit: $17,206

Cash invested: $55,720 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 240
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,005 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$205
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $4

Break-even live

Break-even rent $2,000

Max offer price $199,000

Occupancy floor 95%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Iroquois Dr Galloway, NJ	2.0	1.0	855	$1,800	$2.11	13d	1	0.53mi
180 Walden Way Galloway, NJ	1.0–3.0	1.0–2.5	1037	$2,319	$2.24	1d	1	0.96mi
31 Arapaho Pl Unit 1 Galloway, NJ	2.0	1.0	855	$2,100	$2.46	13d	1	0.99mi
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	21d	1	1.45mi

HOA detail condo

• Monthly dues: $205 · $2,460/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-19
   days on market $199,000 Active 81 DOM
2. 2026-06-18
   days on market $199,000 Active 80 DOM
3. 2026-06-17
   days on market $199,000 Active 79 DOM
4. 2026-06-16
   days on market $199,000 Active 78 DOM
5. 2026-06-15
   days on market $199,000 Active 77 DOM
6. 2026-06-14
   days on market $199,000 Active 75 DOM
7. 2026-06-13
   pricedays on market $199,000 Active 74 DOM
8. 2026-06-10
   days on market $210,000 Active 72 DOM
9. 2026-06-09
   days on market $210,000 Active 71 DOM
10. 2026-06-08
    days on market $210,000 Active 70 DOM
11. 2026-06-07
    days on market $210,000 Active 69 DOM
12. 2026-06-03
    days on market $210,000 Active 65 DOM
13. 2026-06-02
    days on market $210,000 Active 64 DOM
14. 2026-06-01
    days on market $210,000 Active 63 DOM
15. 2026-05-31
    days on market $210,000 Active 62 DOM
16. 2026-05-30
    days on market $210,000 Active 61 DOM
17. 2026-03-30
    listed $210,000 Active 234-char remark

    Show marketing remark (234 chars)

    $ 2 bed, 2bath condo. Recently updated. Tenant occupied, No rental restrictions. Tenant will go or stay With a 10% down payment the monthly payment would be about $1563.00 which is less than rent for 2 bedroom 2 bathroom apartment.

18. 2025-09-30
    historical 277-char remark

    Show marketing remark (277 chars)

    $ 10,000 price drop!!! 2 bed, 2bath condo. Recently updated. Tenant occupied, No rental restrictions. Seller will give $3,000 towards closing cost. With a 10% down payment the monthly payment would be about $1563.00 which is less than rent for 2 bedroom 2 bathroom apartment.

19. 2025-08-26
    price $195,000 277-char remark

    Show marketing remark (277 chars)

    $ 10,000 price drop!!! 2 bed, 2bath condo. Recently updated. Tenant occupied, No rental restrictions. Seller will give $3,000 towards closing cost. With a 10% down payment the monthly payment would be about $1563.00 which is less than rent for 2 bedroom 2 bathroom apartment.

20. 2025-05-06
    listed $205,000 Active 277-char remark

    Show marketing remark (277 chars)

    $ 10,000 price drop!!! 2 bed, 2bath condo. Recently updated. Tenant occupied, No rental restrictions. Seller will give $3,000 towards closing cost. With a 10% down payment the monthly payment would be about $1563.00 which is less than rent for 2 bedroom 2 bathroom apartment.

21. 2024-09-09
    soldstatus $157,000 Sold
22. 2024-09-03
    historical Under Contract
23. 2024-06-18
    listed $169,900 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,058
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − HOA: −$2,460
• − Depreciation: −$5,789
• Taxable loss: −$3,168
• Est. tax savings @ 24.0%: +$760
• After-tax cash flow: $803/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 · 4 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate repairs and maintenance needed. Upgrading the flooring and HVAC system would significantly increase its value.

Repairs flagged

• Minor kitchen flooring — carpeted floor in kitchen
• Minor bathroom flooring — carpeted floor in bathroom
• Moderate HVAC/mechanicals — photos do not show

Value-add opportunities

• Both paint interior walls — Fresh paint can improve the overall appearance and value of the property
• Both replace carpet with hardwood flooring — Hardwood flooring is more durable and aesthetically pleasing, increasing both resale and rental value
• Both replace kitchen and bathroom flooring — New flooring in both areas will enhance the property's appeal and value
• Both install new HVAC system — A new HVAC system will improve comfort and energy efficiency, increasing both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen flooring · carpeted floor in kitchen	Minor	$500–3,000
bathroom flooring · carpeted floor in bathroom	Minor	$500–3,000
HVAC/mechanicals · photos do not show	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — Fresh paint can improve the overall appearance and value of the property ↑
• Both replace carpet with hardwood flooring — Hardwood flooring is more durable and aesthetically pleasing, increasing both resale and rental value ↑
• Both replace kitchen and bathroom flooring — New flooring in both areas will enhance the property's appeal and value ↑
• Both install new HVAC system — A new HVAC system will improve comfort and energy efficiency, increasing both resale and rental 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: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Smithville

• Score: 64/100
• State rank: #402
• US rank: #13992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smithville, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 28,877
• Household income: $93,370
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 732.0

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 0.58)
• Race & ethnicity: White 62% Hispanic / Latino 14% Two or more races 12% Asian 9% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6%
• Common ancestry: Romanian 7% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 7% Russian/Polish/Slavic 3%

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: ▼ -44.12%
• Current HPI: 315.4814
• Rent YoY: —
• Metro: Atlantic City-Hammonton, NJ
• 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

+23.6% since first listed

7 events — show timeline

• 2026-03-30 Listed $210,000 SJSRMLS
• 2025-09-30 Listing Removed — SJSRMLS
• 2025-08-26 Price Changed $195,000 SJSRMLS
• 2025-05-06 Listed $205,000 SJSRMLS
• 2024-09-09 Sold (MLS) $157,000 SJSRMLS
• 2024-09-03 Contingent — SJSRMLS
• 2024-06-18 Listed $169,900 SJSRMLS