3312 Larkspur Ct · McKee City, NJ 08330

$230,000

3 bd · 2.5 ba · 1,249 sqft · Townhouse · 9 Days on market

Built 1986 Est $207k · 11% over $400/mo HOA · 15% of rent

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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 +14.5/30.0
• Appreciation +10.0/10.0
• 1% rule +6.2/10.0
• DSCR +4.4/10.0
• ARV discount +2.6/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

This well-maintained 3-bedroom, 2.5-bath condominium presents an excellent opportunity for investors seeking immediate rental income. The property is currently tenant-occupied with a lease in place through April 14, 2027. Inside, you'll find a spacious and inviting floor plan. The main level features a bright living room that flows seamlessly into the dining area and a recently renovated kitchen, complete with newer appliances and modern finishes. Upstairs, the home offers three generously sized bedrooms, including a primary suite with a private en-suite bath. For added convenience, the full-size washer and dryer are located on the second floor, eliminating the need to carry laundry between

Key facts

• Reserved parking
• Brand new carpet
• $400 HOA

Tags

• RECENTLY RENOVATED KITCHEN
• FULL SIZE WASHER AND DRYER
• FRESH PAINT THROUGHOUT
• BRAND NEW CARPET
• LUXURY VINYL FLOORING
• RESERVED PARKING

Property features AI

Finance

• Other: Ground rent paid annually
• Financial info: Lease considered
• HOA & community: Monthly HOA ($400) covering trash, snow removal, pool(s) and recreation facility; Community amenities include outdoor pool, picnic area, tennis courts and basketball courts

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Built year per assessor; Block and asbestos construction materials; Other foundation
• Exterior features: Community pool; Not in a federal flood zone; Tidal water: no

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms (upper level); One half bathroom on the main level
• Heating & cooling: 90% forced air heating; Natural gas heating and hot water; Central air conditioning (electric)
• Interior features: No basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $51 ($612/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 6.6% vs local median 4.9% in McKee City — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hamilton Township School District (suburban): math 9% / reading 37% proficiency, ranked #401 of 472 in NJ (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 244 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 40% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $230,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.12% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $207,334
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3411 Juniper Ct Ct #3411	0.04mi	3/2.5	1,249 (0%)	1mo	$229,900	$184	98
3125 Woodlands Dr #27	0.07mi	3/2.5	1,300 (+4%)	0mo	$220,000	$169	90
2818 Hawthorn Ct #2818 Hawthorn	0.21mi	3/2.5	1,249 (0%)	4mo	$210,000	$168	87
3219 Juniper Ct #3219	0.07mi	3/2.5	1,249 (0%)	21mo	$205,000	$164	79
2841 Forsythia #71	0.31mi	2/1.5 (-1)	1,268 (+2%)	1mo	$120,000	$95	74
2815 Hawthorn Ct #2815	0.22mi	3/2.5	1,249 (0%)	24mo	$215,000	$172	70
2639 . Nutmeg Ct #7	0.30mi	2/1.5 (-1)	1,268 (+2%)	18mo	$177,500	$140	59
2409 Arbor Ct #2409	0.50mi	2/1.5 (-1)	1,148 (-8%)	8mo	$190,000	$166	48
2532 Cottonwood Ct	0.45mi	2/1.5 (-1)	1,376 (+10%)	23mo	$174,995	$127	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 3.00×
• Total profit: $128,796
• Equity at exit: $207,202

10-year hold

• IRR: 22.1%
• Equity multiple: 6.86×
• Total profit: $377,296
• Equity at exit: $446,839

Cash invested: $64,400 (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 08330

• Home prices YoY: 3.9%
• Active inventory: 244
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,583 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$400
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $51

Break-even live

Break-even rent $2,518

Max offer price $230,000

Occupancy floor 93%

Sensitivity live

Price	-10% $210	-5% $130	+0% $51	+5% $-28	+10% $-108
Rent	-10% $-153	-5% $-51	+0% $51	+5% $153	+10% $255
Rate	-1.0pp $167	-0.5pp $109	base $51	+0.5pp $-9	+1.0pp $-69

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2703 Mimosa Ct Mays Landing, NJ	2.0	1.5	1268	$2,200	$1.74	14d	1	0.30mi
3401 Montgomery Dr Mays Landing, NJ	1.0–2.0	1.0–2.0	1192	$2,810	$2.36	14d	18	0.37mi
2529 Cottonwood Ct Mays Landing, NJ	2.0	1.5	1376	$2,200	$1.60	14d	1	0.44mi
2529 Cottonwood Ct Mays Landing, NJ	2.0	1.5	1376	$2,200	$1.60	44d	1	0.44mi
2000 Timber Glen Dr Mays Landing, NJ	2.0–3.0	2.5	1577	$3,203	$2.03	14d	2	0.75mi
2605 Flagstaff Ct #2605 Mays Landing, NJ	2.0	2.0	1250	$2,500	$2.00	22d	1	0.76mi
1932 Cologne Ave Mays Landing, NJ	1.0–2.0	1.0–2.0	775	$1,825	$2.35	14d	1	0.96mi

HOA detail

• Monthly dues: $400 · $4,800/yr

Listing history 8 events

1. 2026-06-19
   days on market $230,000 Active 9 DOM
2. 2026-06-18
   days on market $230,000 Active 8 DOM
3. 2026-06-17
   days on market $230,000 Active 7 DOM
4. 2026-06-16
   days on market $230,000 Active 6 DOM
5. 2026-06-15
   days on market $230,000 Active 5 DOM
6. 2026-06-14
   days on market $230,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $230,000 Active 2 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,994
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,480
• − Management: −$2,480
• − HOA: −$4,800
• − Depreciation: −$6,691
• Taxable loss: −$2,939
• Est. tax savings @ 24.0%: +$705
• After-tax cash flow: $1,317/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: Hamilton Township School District
• NCES district ID: 3406510
• Math proficiency: 9% ▼ -20.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $60,997
• Composite: 21.34/100
• National rank: #8372
• State rank: #401 of 472 in NJ

Livability — McKee City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: McKee City, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 29,972
• Household income: $77,167
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1003.0

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 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 16% Black 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 84% English-only · Spanish 10% Tagalog/Filipino 1% 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: ▲ 11.58%
• Current HPI: 308.5148
• 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

+0.0% since first listed

8 events — show timeline

• 2026-06-10 Listed $230,000 BRIGHT MLS
• 2026-04-18 Rental Removed $2,200 TENANTTURNER2
• 2026-04-06 Listing Removed — BRIGHT MLS
• 2026-03-22 Listed for Rent $2,200 TENANTTURNER2
• 2026-02-11 Listing Removed — BRIGHT MLS
• 2026-01-22 Listed $230,000 BRIGHT MLS
• 2026-01-20 Listed $230,000 BRIGHT MLS
• 2026-01-14 Coming Soon — BRIGHT MLS