111 Chestnut St · Cherry Hill Mall, NJ 08002

$250,000

2 bd · 2.0 ba · 1,081 sqft · Condo · 27 Days on market

Built 1969 Fair condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.0/30.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.0/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

Key facts

• Secured building
• Dining area
• Large balcony

Tags

• SECURED BUILDING
• LARGE KITCHEN
• DINING AREA
• SPACIOUS LIVING ROOM
• LARGE BALCONY
• REPUTED SCHOOL ZONE

Property features AI

Exterior

• Home design: Built in 1969
• Construction: Living area approximately 1,081
• Exterior features: Located in the Cherry Hill Mall subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-585 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (9.1% below list).
• Recommended offer: $227k (9.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#87 in NJ, #2,267 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety B+; Watch: commute F, cost of living F.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Joyce Kilmer Elementary School (math 15% / reading 43%, grade F, #766 of 1,303 statewide, top 59%, 430 students, 26% FRL); John A. Carusi Middle School (math 12% / reading 51%, grade F, #289 of 431 statewide, top 69%, 841 students, 29% FRL); Cherry Hill High School West (math 11% / reading 51%, grade F, #277 of 399 statewide, top 70%, 1,355 students, 24% FRL).
• Zoned-school proficiency averages 30% at this address vs 43% district-wide (-12 pts) — the specific schools serving this property underperform the Cherry Hill School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.9%/yr); 101 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y 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 $30k; list at $250k implies a 722% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $227,253 (9.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 0.91% ✗
• Cap rate: 3.48%
• Cash-on-cash: -10.04%
• DSCR: 0.55
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -34.2%
• Equity multiple: -0.11×
• Total profit: $-77,588
• Equity at exit: $37,276

10-year hold

• IRR: -42.6%
• Equity multiple: -0.64×
• Total profit: $-114,737
• Equity at exit: $21,615

Cash invested: $70,000 (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 08002

• Rents YoY: 2.9%
• Active inventory: 101
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,273 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA est. from 3 same-building comps: −$653
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-585

Break-even live

Break-even rent $3,014

Max offer price $165,292

Occupancy floor —

Sensitivity live

Price	-10% $-413	-5% $-499	+0% $-585	+5% $-672	+10% $-758
Rent	-10% $-765	-5% $-675	+0% $-585	+5% $-496	+10% $-406
Rate	-1.0pp $-459	-0.5pp $-522	base $-585	+0.5pp $-650	+1.0pp $-716

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Chestnut St Cherry Hill, NJ	1.0	1.0	782	$1,600	$2.05	45d	1	0.03mi
111 Chestnut St Unit 609 Cherry Hill, NJ	1.0	1.0	782	$1,700	$2.17	26d	1	0.03mi
106 Chestnut St Cherry Hill, NJ	2.0	1.0	732	$2,025	$2.77	0d	9	0.09mi
836 Cooper Landing Rd Cherry Hill, NJ	3.0	1.0–2.0	901	$2,523	$2.80	0d	16	0.13mi
801 Cooper Landing Rd Cherry Hill, NJ	1.0–2.0	1.0–2.0	830	$2,097	$2.53	0d	10	0.27mi
715 Cooper Landing Rd Cherry Hill, NJ	3.0	2.0	1334	$3,100	$2.32	45d	1	0.40mi
2145 New Jersey 38 Cherry Hill Township, NJ	1.0–2.0	1.0–2.0	943	$2,589	$2.75	0d	17	0.41mi
1 Burroughs Mill Cir Cherry Hill, NJ	1.0–3.0	1.0–2.5	1142	$2,812	$2.46	0d	23	0.52mi
1980 Route 70 W Cherry Hill, NJ	1.0–3.0	1.0–2.0	1043	$2,686	$2.58	0d	8	0.80mi
401 Cooper Landing Rd Cherry Hill, NJ	2.0	2.0	1030	$1,900	$1.84	45d	1	0.97mi
401 Cooper Landing Rd Cherry Hill, NJ	2.0	2.0	1030	$2,000	$1.94	20d	1	0.97mi
2022 Crescent Way Cherry Hill, NJ	2.0	2.0	1358	$3,100	$2.28	45d	1	1.00mi
3005 Chapel Ave W Cherry Hill, NJ	3.0	1.0–2.0	1103	$2,333	$2.11	0d	59	1.10mi
700 Citation Ln Cherry Hill, NJ	1.0–2.0	1.0–2.0	1513	$3,500	$2.31	0d	84	1.11mi
11 E Rudderow Ave Maple Shade, NJ	1.0	1.0	720	$1,572	$2.18	26d	1	1.19mi
4543 Champions Run Cherry Hill Township, NJ	2.0	2.0	1196	$2,450	$2.05	24d	1	1.24mi
4536 Champions Run #4536 Cherry Hill, NJ	2.0	2.0	1212	$3,000	$2.48	45d	1	1.24mi
223 Breeders Cup Dr Cherry Hill, NJ	3.0	2.0	1460	$3,400	$2.33	45d	1	1.26mi
Breeders Cup Dr Cherry Hill, NJ	2.0	2.0	1196	$2,650	$2.22	45d	1	1.28mi
4322 Champions Run Cherry Hill, NJ	2.0	2.0	1212	$2,850	$2.35	45d	1	1.29mi
1 Park Lane Blvd Cherry Hill, NJ	2.0	1.0–2.0	1096	$4,712	$4.30	0d	28	1.36mi
300 Monroe Ave Unit B Cherry Hill Township, NJ	3.0	1.0	900	$2,250	$2.50	26d	1	1.40mi
1305 Churchill Downs Way Cherry Hill Township, NJ	2.0	2.0	1293	$5,077	$3.93	3d	1	1.41mi
1307 Churchill Downs Way Cherry Hill Township, NJ	1.0	1.0	919	$2,668	$2.90	45d	1	1.41mi
3506 Del Mar Dr Cherry Hill Township, NJ	1.0	1.0	794	$2,968	$3.74	45d	1	1.46mi
2000 Maplewood Dr Maple Shade, NJ	1.0–2.0	1.0–1.5	1072	$2,480	$2.31	26d	1	1.47mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $250,000 Active 27 DOM
2. 2026-06-18
   days on market $250,000 Active 24 DOM
3. 2026-06-17
   days on market $250,000 Active 23 DOM
4. 2026-06-16
   days on market $250,000 Active 22 DOM
5. 2026-06-15
   days on market $250,000 Active 21 DOM
6. 2026-06-13
   days on market $250,000 Active 19 DOM
7. 2026-06-13
   days on market $250,000 Active 18 DOM
8. 2026-06-09
   days on market $250,000 Active 15 DOM
9. 2026-06-08
   days on market $250,000 Active 14 DOM
10. 2026-06-07
    days on market $250,000 Active 13 DOM
11. 2026-06-04
    days on market $250,000 Active 10 DOM
12. 2026-06-03
    days on market $250,000 Active 9 DOM
13. 2026-06-02
    days on market $250,000 Active 8 DOM
14. 2026-06-01
    days on market $250,000 Active 7 DOM
15. 2026-05-31
    days on market $250,000 Active 6 DOM
16. 2026-05-26
    listed $250,000 Active
17. 2018-05-31
    soldstatus $30,400 Closed 337-char remark

    Show marketing remark (337 chars)

    Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

18. 2018-04-23
    status Pending 337-char remark

    Show marketing remark (337 chars)

    Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

19. 2018-04-03
    historical 337-char remark

    Show marketing remark (337 chars)

    Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

20. 2018-04-01
    status Active 337-char remark

    Show marketing remark (337 chars)

    Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

21. 2018-03-19
    historical 337-char remark

    Show marketing remark (337 chars)

    Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

22. 2018-03-13
    listed $25,999 Active 337-char remark

    Show marketing remark (337 chars)

    Nice Opportunity! Spacious Two bedroom First Floor condo in Chestnut Place! Sliding door leads out to private patio near the pool. Complete renovation needed. Buy this unit at this low price and customize it to your taste! Sold as is; Buyer to be responsible for any and all inspections/certifications including Certificate of Occupancy.

23. 2016-12-16
    historical
24. 2016-12-16
    listed $43,700
25. 2016-12-16
    historical
26. 2016-09-22
    listed $46,000
27. 2013-03-25
    historical
28. 2011-01-05
    listed $50,000
29. 2010-12-31
    historical
30. 2010-10-25
    listed $69,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,270
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,182
• − Management: −$2,182
• − HOA: −$7,836
• − Depreciation: −$7,273
• Taxable loss: −$11,206
• Est. tax savings @ 24.0%: +$2,689
• After-tax cash flow: $-4,335/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 · 1 photo

Fair 40/100 Moderate rehab

The property requires moderate repairs and maintenance, with a focus on the bathroom. Painting and minor repairs would significantly improve its appearance and value.

Repairs flagged

• Minor Toilet lid — Missing lid
• Moderate Bathroom fixtures — Worn appearance

Value-add opportunities

• Both Painting and minor repairs — Improves appearance and value
• Both New toilet lid — Fixes a noticeable issue and improves functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Toilet lid · Missing lid	Minor	$500–3,000
Bathroom fixtures · Worn appearance	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Painting and minor repairs — Improves appearance and value ↑
• Both New toilet lid — Fixes a noticeable issue and improves functionality ↑

ⓘ 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: Cherry Hill School District
• NCES district ID: 3403000
• Math proficiency: 27% ▼ -26.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $90,394
• Composite: 40.71/100
• National rank: #3665
• State rank: #181 of 472 in NJ

Livability — Cherry Hill Mall

• Score: 79/100
• State rank: #87
• US rank: #2267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherry Hill Mall, NJ
• County: Camden County · 407,624 people
• City population: 23,574
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 24,015
• Household income: $100,951
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 430.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 12% Asian 12% Black 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 8% Scotch-Irish 2% Italian 2%
• Foreign-born: 18% · Vietnam, Canada, China
• Languages at home: 73% English-only · Spanish 8% Russian/Polish/Slavic 4% Vietnamese 4%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.30%
• Current HPI: 358.1597
• Rent YoY: ▲ 2.90%
• 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

+257.7% since first listed

15 events — show timeline

• 2026-05-26 Listed $250,000 FSBO.com
• 2018-05-31 Sold (MLS) $30,400 BRIGHT MLS
• 2018-04-23 Pending — BRIGHT MLS
• 2018-04-03 Listing Removed — BRIGHT MLS
• 2018-04-01 Relisted — BRIGHT MLS
• 2018-03-19 Listing Removed — BRIGHT MLS
• 2018-03-13 Listed $25,999 BRIGHT MLS
• 2016-12-16 Listing Removed — BRIGHT MLS
• 2016-12-16 Listed $43,700 BRIGHT MLS
• 2016-12-16 Listing Removed — BRIGHT MLS
• 2016-09-22 Listed $46,000 BRIGHT MLS
• 2013-03-25 Listing Removed — BRIGHT MLS
• 2011-01-05 Listed $50,000 BRIGHT MLS
• 2010-12-31 Listing Removed — BRIGHT MLS
• 2010-10-25 Listed $69,900 BRIGHT MLS