78 Club Pl · Galloway, NJ 08205

$150,000

2 bd · 1.0 ba · 895 sqft · Condo public records · 26 Days on market

Built 1984 $235/mo HOA · 11% of rent

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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 +24.9/30.0
• 1% rule +8.8/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for both homeowners and investors! This well-maintained 2-bedroom, 1-bath second-floor condominium is located in the desirable Club Place community. The unit features a spacious attic, offering excellent additional storage. Enjoy a convenient location just minutes from the Garden State Parkway, shopping, dining, and local entertainment. A smart value in a prime location—don’t miss it!

Key facts

• Club place community
• Spacious attic
• Convenient location

Tags

• SPACIOUS ATTIC
• CLUB PLACE COMMUNITY
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Improvement and land assessed values reported; Entry level: 2; Municipality: Galloway Township
• HOA & community: Monthly HOA fee of $235; HOA covers lawn maintenance, pool(s), snow removal, and exterior building maintenance

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Garden-style building (1–4 floors); Single-floor unit; Unit/flat; Fee simple ownership
• Construction: Vinyl siding; Above grade and below grade structures; 895 finished above-grade square feet (assessor); Year built per assessor
• Exterior features: Community pool; Lot dimensions per assessor

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: No basement; Living area per assessor
• Laundry & utility: Washer/dryer hookups in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 at typical pace (median 14d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 26 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $150k implies a 223% gain — meaningful room to come down on a strong offer.

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 $147,750 (1.5% below list)

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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.38% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 6.1

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-3,559
• Equity at exit: $22,365

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $24,164
• Equity at exit: $12,969

Cash invested: $42,000 (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 08205

• Home prices YoY: -12.3%
• Active inventory: 240
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,063 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$223 /mo · $2,671/yr
• Insurance: −$62
• HOA: −$235
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $323

Break-even live

Break-even rent $1,654

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $408	-5% $365	+0% $323	+5% $280	+10% $238
Rent	-10% $160	-5% $241	+0% $323	+5% $404	+10% $486
Rate	-1.0pp $398	-0.5pp $361	base $323	+0.5pp $284	+1.0pp $244

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Arapaho Pl Unit 1 Galloway, NJ	2.0	1.0	855	$2,100	$2.46	14d	1	0.07mi
180 Walden Way Galloway, NJ	1.0–3.0	1.0–2.5	1037	$2,319	$2.24	2d	1	0.53mi
16 Iroquois Dr Galloway, NJ	2.0	1.0	855	$1,800	$2.11	14d	1	0.57mi
64 Mattix Run Galloway, NJ	2.0	1.0	1007	$1,800	$1.79	22d	1	1.06mi

HOA detail condo

• Monthly dues: $235 · $2,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-04
   status Pending
2. 2026-04-08
   listed $150,000 Active
3. 1997-09-04
   soldstatus $46,500

ⓘ 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: $2,671 · $223/mo
• Projected year-2 tax: $3,203 · $267/mo
• Expected delta: +$532/yr (+$44/mo · 19.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 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: $24,750
• − Mortgage interest: −$8,402
• − Property taxes: −$2,671
• − Insurance: −$750
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − HOA: −$2,820
• − Depreciation: −$4,364
• Taxable income: $1,783
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $3,444/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: 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 — Galloway

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

Census & demographics

• County: Atlantic County · 143,611 people
• City population: 28,877
• 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

+222.6% since first listed

3 events — show timeline

• 2026-05-04 Pending — BRIGHT MLS
• 2026-04-08 Listed $150,000 BRIGHT MLS
• 1997-09-04 Sold (Public Records) $46,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,671 · +1.6% YoY. Source: county tax records.