7 A Pheasant St · Cedar Glen West, NJ 08759

$139,500

2 bd · 1.0 ba · 1,280 sqft · SingleFamily · 132 Days on market

Good condition $109/sqft · 35% above area Est $103k · 35% over $495/mo HOA · 19% of rent ↓ 7% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS SWAN'S FOR YOU! Beautiful 2 bedroom, 1 bath home in the 55+ Adult Community of Cedar Glen West features newer hardwood floors front to back; Kitchen was fully updated with stainless steel appliances; renovated bathroom with tile and walk-in shower; 2 carpeted bedrooms and a laundry area across the hall! Central Air Conditioning, Hot Water Baseboard Heat keep the home at the perfect temp all year round. Better jump on this one quickly!!!

Key facts

• Renovated bathroom
• Laundry area
• Walk-in shower

Tags

• HARDWOOD FLOORS
• STAINLESS STEEL APPLIANCES
• RENOVATED BATHROOM
• WALK-IN SHOWER
• LAUNDRY AREA
• CENTRAL AIR CONDITIONING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.8% in Cedar Glen West — 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 66/100 on livability (#366 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 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); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $964 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% 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 $122,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.85% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.69%
• DSCR: 1.79
• GRM: 4.5

CMA / ARV

• ARV (median comp): $103,041
• List price: $139,500
• Delta: 35.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60A Pheasant St	0.04mi	2/1.0	1,280 (0%)	1mo	$140,000	$109	97
2A Pheasant St	0.06mi	2/1.0	1,280 (0%)	7mo	$99,000	$77	92
10B Mallard St	0.09mi	2/1.0	1,280 (0%)	10mo	$125,000	$98	87
16A Mallard St	0.13mi	2/1.0	1,280 (0%)	9mo	$89,500	$70	86
104 B S Heron St	0.13mi	2/1.0	1,280 (0%)	13mo	$120,000	$94	83
11 Mallard St Unit B	0.09mi	2/1.0	1,280 (0%)	17mo	$137,000	$107	81
6 S Heron St Unit A	0.05mi	2/1.0	1,100 (-14%)	8mo	$149,000	$135	67
13B S Heron St Unit B	0.04mi	2/1.0	1,100 (-14%)	13mo	$112,000	$102	64
23 Mallard St Unit A	0.20mi	2/1.0	1,152 (-10%)	14mo	$55,000	$48	62
120 Circle Dr	0.29mi	3/2.0 (+1)	1,350 (+6%)	10mo	$225,000	$167	60
6 Heron St Unit A	0.21mi	1/1.0 (-1)	1,116 (-13%)	17mo	$90,000	$81	49
32 Pheasant St Unit A	0.29mi	2/1.0	1,100 (-14%)	18mo	$132,500	$120	48

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $14,415
• Equity at exit: $20,800

10-year hold

• IRR: 18.7%
• Equity multiple: 2.57×
• Total profit: $61,174
• Equity at exit: $12,061

Cash invested: $39,060 (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 08759

• Active inventory: 648
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,576 medium
• Mortgage (P&I): −$732
• Tax est. 1.5%: −$174 /mo · $2,092/yr
• Insurance: −$58
• HOA: −$495
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $576

Break-even live

Break-even rent $1,847

Max offer price $139,500

Occupancy floor 73%

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Marlow Ave Manchester, NJ	2.0	2.0	1551	$2,400	$1.55	2d	1	1.24mi
73 Buckingham Dr N Manchester, NJ	2.0	2.0	967	$2,200	$2.28	44d	1	1.27mi
52 Rockingham Way #1 Manchester, NJ	3.0	2.5	1848	$3,275	$1.77	44d	1	1.42mi

HOA detail

• Monthly dues: $495 · $5,940/yr
• Likely covers: water

Listing history 15 events

1. 2026-06-18
   days on market $139,500 Active 132 DOM
2. 2026-06-17
   days on market $139,500 Active 131 DOM
3. 2026-06-16
   days on market $139,500 Active 130 DOM
4. 2026-06-15
   days on market $139,500 Active 129 DOM
5. 2026-06-13
   days on market $139,500 Active 127 DOM
6. 2026-06-09
   days on market $139,500 Active 123 DOM
7. 2026-06-08
   days on market $139,500 Active 122 DOM
8. 2026-06-07
   days on market $139,500 Active 121 DOM
9. 2026-06-04
   days on market $139,500 Active 118 DOM
10. 2026-06-03
    days on market $139,500 Active 117 DOM
11. 2026-06-02
    days on market $139,500 Active 116 DOM
12. 2026-06-01
    days on market $139,500 Active 115 DOM
13. 2026-05-31
    days on market $139,500 Active 114 DOM
14. 2026-03-26
    price $139,500 445-char remark

    Show marketing remark (445 chars)

    THIS SWAN'S FOR YOU! Beautiful 2 bedroom, 1 bath home in the 55+ Adult Community of Cedar Glen West features newer hardwood floors front to back; Kitchen was fully updated with stainless steel appliances; renovated bathroom with tile and walk-in shower; 2 carpeted bedrooms and a laundry area across the hall! Central Air Conditioning, Hot Water Baseboard Heat keep the home at the perfect temp all year round. Better jump on this one quickly!!!

15. 2026-02-07
    listed $150,000 Active 445-char remark

    Show marketing remark (445 chars)

    THIS SWAN'S FOR YOU! Beautiful 2 bedroom, 1 bath home in the 55+ Adult Community of Cedar Glen West features newer hardwood floors front to back; Kitchen was fully updated with stainless steel appliances; renovated bathroom with tile and walk-in shower; 2 carpeted bedrooms and a laundry area across the hall! Central Air Conditioning, Hot Water Baseboard Heat keep the home at the perfect temp all year round. Better jump on this one quickly!!!

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,910
• − Mortgage interest: −$7,814
• − Property taxes: −$2,092
• − Insurance: −$698
• − Repairs & maintenance: −$2,473
• − Management: −$2,473
• − HOA: −$5,940
• − Depreciation: −$4,058
• Taxable income: $5,362
• Est. tax owed @ 24.0%: −$1,287
• After-tax cash flow: $5,623/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 75/100 Cosmetic rehab

This 2-bedroom, 1-bath home in Cedar Glen West is in good condition with recent updates and a move-in-ready appearance. It offers a good investment opportunity with potential for further value enhancement.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace window treatments — Freshens look and improves energy efficiency
• Both Install new flooring in bathrooms — Modernizes space and improves resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace window treatments — Freshens look and improves energy efficiency ↑
• Both Install new flooring in bathrooms — Modernizes space and improves resale 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: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Cedar Glen West

• Score: 66/100
• State rank: #366
• US rank: #12309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Glen West, NJ
• Population (ZIP): 34,290

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.85%
• Current HPI: 274.4679
• 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

-7.0% since first listed

2 events — show timeline

• 2026-03-26 Price Changed $139,500 MOMLS
• 2026-02-07 Listed $150,000 MOMLS