133-D Farrington Ct · Leisure Village, NJ 08701

$125,000

2 bd · 1.0 ba · 982 sqft · SingleFamily public records · 3 Days on market

Built 1967 Est $205k · 39% under $420/mo HOA · 20% of rent

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Why this score? — see what drove the B 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 +28.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 133D Farrington Court in the desirable 55+ community of Leisure Village in Lakewood. This end-unit home offers a wonderful opportunity to add your personal touches and make it your own. A sidewalk leads to the front entrance, where you'll find screened-in porch. Inside, the home features a living room, kitchen, convenient laundry area, two good sized bedrooms, and a full bath. An attached one-car garage provides additional storage. While the home does need TLC, it offers excellent potential for buyers looking to customize a home to their taste in a well established active adult community. Leisure Village offers an impressive array of amenities designed for an active and social lifestyle. Make your appointment today!

Key facts

• $420 HOA
• Garage
• Community pool

Property features AI

Finance

• HOA & community: Monthly HOA fee of $420; HOA covers common area maintenance, lawn maintenance, and snow removal; Community amenities include boat slip, clubhouse, community center, exercise room, gated community, golf course, lake, outdoor pool, retirement community features, and shuffleboard

Exterior

• Parking: Attached oversized garage with side entry (1-car)
• Utilities: Public water; Public sewer; Electric utilities
• Home design: End-of-row townhouse; Fee simple ownership; Senior community (55+)
• Construction: Frame construction; Slab foundation
• Exterior features: Community outdoor pool; Corner unit

Interior

• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Baseboard electric heating; Central air conditioning; Electric hot water
• Interior features: No basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.0% vs local median 6.0% in Leisure Village — 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 (#416 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B; Watch: schools D, amenities F, commute F.
• Lakewood Township School District (suburban): math 17% / reading 28% proficiency, ranked #417 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 419 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 39% of the median local income ($65k/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 $864 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 $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $125,000

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.69% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.28%
• DSCR: 1.59
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $205,238
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51A Cambridge Ct	0.21mi	2/1.0	987 (+0%)	2mo	$140,000	$142	88
404A Picardy Ct	0.42mi	2/1.0	982 (0%)	0mo	$235,000	$239	80
699A Plymouth Dr Unit 699A	0.50mi	2/1.0	982 (0%)	1mo	$259,000	$264	76
703 Plymouth Dr Unit A	0.52mi	2/1.0	982 (0%)	1mo	$265,000	$270	75
465D Thornbury Ct	0.53mi	2/1.0	982 (0%)	2mo	$205,000	$209	74
402 Picardy Ct Unit B	0.39mi	2/1.0	1,036 (+6%)	0mo	$259,900	$251	72
243D Jefferson Ct	0.42mi	2/1.0	1,036 (+6%)	0mo	$170,000	$164	71
337C Canterbury Ct	0.31mi	2/1.0	1,078 (+10%)	1mo	$160,000	$148	68
530 Portsmouth Dr Unit D	0.67mi	2/1.0	982 (0%)	2mo	$196,000	$200	67
562 Portsmouth Dr Unit 562C	0.69mi	2/1.0	982 (0%)	1mo	$187,000	$190	66
569A Sheffield Ct	0.72mi	2/1.0	982 (0%)	0mo	$1,169,900	$1,191	66
500B Thornbury Ct Unit B	0.62mi	2/1.0	1,078 (+10%)	1mo	$216,000	$200	54

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: 3.5%
• Equity multiple: 1.13×
• Total profit: $4,711
• Equity at exit: $18,638

10-year hold

• IRR: 13.2%
• Equity multiple: 2.06×
• Total profit: $37,052
• Equity at exit: $10,808

Cash invested: $35,000 (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 08701

• Active inventory: 419
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,114 high
• Mortgage (P&I): −$656
• Tax from tax record: −$155 /mo · $1,857/yr
• Insurance: −$52
• HOA: −$420
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $387

Break-even live

Break-even rent $1,623

Max offer price $125,000

Occupancy floor 77%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47L Cambridge Ct Lakewood, NJ	2.0	1.0	841	$1,795	$2.13	24d	1	0.25mi
341B Canterbury Ct Lakewood, NJ	2.0	1.0	982	$2,275	$2.32	22d	1	0.27mi
335A Canterbury Ct Lakewood, NJ	2.0	1.0	982	$1,950	$1.99	19d	1	0.32mi
106A Edinburgh Ln Lakewood, NJ	2.0	1.0	858	$2,200	$2.56	17d	1	0.34mi
219 Buckingham Ct Lakewood, NJ	1.0	1.0	663	$1,900	$2.87	43d	1	0.40mi
278C Kingston Ct Lakewood, NJ	2.0	1.0	1000	$2,250	$2.25	2d	1	0.57mi
1042C Aberdeen Dr Unit C Lakewood, NJ	2.0	1.0	982	$2,000	$2.04	4d	1	1.11mi
824A Balmoral Ct Unit A Toms River, NJ	2.0	1.0	982	$2,200	$2.24	19d	1	1.25mi
829A Balmoral Ct Unit 1001 Lakewood, NJ	1.0	1.0	663	$1,600	$2.41	24d	1	1.30mi
1100 Deer Path Lakewood, NJ	2.0	1.0–1.5	1187	$2,575	$2.17	1d	4	1.40mi

HOA detail

• Monthly dues: $420 · $5,040/yr

Listing history 5 events

1. 2026-06-13
   status $125,000 Pending 3 DOM
2. 2026-06-08
   statusdays on market $125,000 Active Under Contract 3 DOM
3. 2026-06-07
   statusdays on market $125,000 Active 2 DOM
4. 2026-06-04
   remarks 693-char remark
5. 2026-06-04
   listed $125,000 Coming Soon 1 DOM

ⓘ 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: $1,857 · $155/mo
• Projected year-2 tax: $2,485 · $207/mo
• Expected delta: +$628/yr (+$52/mo · 33.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $25,365
• − Mortgage interest: −$7,002
• − Property taxes: −$1,857
• − Insurance: −$625
• − Repairs & maintenance: −$2,029
• − Management: −$2,029
• − HOA: −$5,040
• − Depreciation: −$3,636
• Taxable income: $3,146
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,895/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: Lakewood Township School District
• NCES district ID: 3408220
• Math proficiency: 17% ▼ -4.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $42,301
• Composite: 19.21/100
• National rank: #8813
• State rank: #417 of 472 in NJ

Livability — Leisure Village

• Score: 64/100
• State rank: #416
• US rank: #14624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leisure Village, NJ
• County: Ocean County · 439,426 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 139,149
• Household income: $64,959
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 5757.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 6% Italian 5% Scotch-Irish 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 9% German/W. Germanic 7% Russian/Polish/Slavic 1%

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: ▼ -682.83%
• Current HPI: 465.344
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-03 Coming Soon $125,000 MOMLS
• 2026-06-03 Coming Soon $125,000 BRIGHT MLS

Property tax history

+2.9%/yr

Latest (2025): $1,857 · +4.1% YoY. Source: county tax records.