406 Cherry St · Camden, NJ 08103

$179,000

3 bd · 2.0 ba · 1,176 sqft · SingleFamily public records · 60 Days on market

Built 1910 1,002 sqft lot

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.0/10.0
• Appreciation +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

Key facts

• Ample cabinet space
• Functional layout
• Spacious living

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING
• AMPLE CABINET SPACE
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service 120/240V; Natural gas available (heating and hot water); Cable TV available; Internet service (other)
• Home design: Semi-detached home; Building winterized; Fee simple ownership; Major renovation completed in 2014; Property listed in excellent condition
• Construction: Brick construction; Shingle roof; Foundation: block and other
• Exterior features: Not in a federal flood zone; Municipal trash service

Interior

• Kitchen: ENERGY STAR refrigerator; Gas oven/range; Microwave
• Bedrooms: Three bedrooms on the upper level
• Flooring: Ceramic tile; Laminate; Carpet
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Ceiling fans; Combination kitchen and dining area; Eat-in kitchen with table space; Partial finished basement
• Laundry & utility: Gas dryer; Laundry area in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (0.1% below list).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#262 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A; Watch: schools F, crime F, employment F.
• Camden City School District (urban): math 3% / reading 16% proficiency, ranked #472 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 64 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $1,789/mo this rent would consume 58% of the median local household income ($37k/yr) (locally 1141% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.4%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 60 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y 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 $11k; list at $179k implies a 1527% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.00% ✗
• Cap rate: 8.36%
• Cash-on-cash: 7.39%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $92,904
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 Henry St	0.22mi	3/1.5	1,176 (0%)	4mo	$120,000	$102	84
920 Newton Ave	0.22mi	3/1.0	1,176 (0%)	4mo	$75,000	$64	83
312 Line St	0.21mi	4/1.5 (+1)	1,280 (+9%)	8mo	$54,000	$42	62
709 Berkley St	0.49mi	3/1.0	1,088 (-8%)	0mo	$135,000	$124	60
1443 S 4th St	0.42mi	3/1.0	1,210 (+3%)	16mo	$68,000	$56	58
441 S 5th St	0.40mi	3/1.0	1,072 (-9%)	15mo	$85,000	$79	50
527 West St	0.30mi	3/1.0	1,344 (+14%)	18mo	$219,000	$163	43

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

Projected returns pro-forma

-2.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,543
• Equity at exit: $31,854

10-year hold

• IRR: 6.3%
• Equity multiple: 1.51×
• Total profit: $25,391
• Equity at exit: $24,495

Cash invested: $50,120 (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 08103

• Home prices YoY: -1.4%
• Active inventory: 64
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,789 high
• Mortgage (P&I): −$939
• Tax from tax record: −$91 /mo · $1,095/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $309

Break-even live

Break-even rent $1,398

Max offer price $179,000

Occupancy floor 78%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 Henry St Camden, NJ	3.0	1.0	1290	$1,600	$1.24	24d	1	0.25mi
457 Mechanic St Camden, NJ	3.0	2.0	1200	$1,950	$1.62	18d	1	0.32mi
440 Henry St Camden, NJ	3.0	1.5	1224	$2,200	$1.80	24d	1	0.41mi
708 Royden St Camden, NJ	3.0	1.0	1113	$1,595	$1.43	17d	1	0.43mi
537 Newton Ave Camden, NJ	2.0	1.0	1092	$1,500	$1.37	18d	1	0.48mi
537 Newton Ave Camden, NJ	2.0	1.0	1092	$1,500	$1.37	12d	1	0.48mi
727 Berkley St Camden, NJ	2.0	1.5	1008	$1,660	$1.65	24d	1	0.51mi
1502 S 9th St Camden, NJ	2.0	1.0	1050	$1,475	$1.40	19d	1	0.76mi
1759 S 4th St Unit B Camden, NJ	2.0	1.0	800	$1,500	$1.88	24d	1	0.81mi
1055 Kenwood Ave Camden, NJ	4.0	1.0	1088	$1,875	$1.72	24d	1	0.90mi
1 Market St Camden, NJ	3.0	1.0–2.0	1190	$2,456	$2.06	1d	15	0.97mi
527 Penn St Unit 1A Camden, NJ	2.0	1.0	800	$1,500	$1.88	18d	1	0.97mi
1455 Wildwood Ave Camden, NJ	3.0	1.5	1353	$1,900	$1.40	10d	1	1.07mi
1509 Park Blvd Camden, NJ	1.0–2.0	1.0	1075	$1,650	$1.53	24d	1	1.07mi
331 Point St Camden, NJ	3.0	1.0	1000	$1,900	$1.90	18d	1	1.12mi
1364 Kaighn Ave Camden, NJ	2.0	1.0	912	$1,485	$1.63	2d	1	1.15mi
1 Dock St Philadelphia, PA	3.0	1.0–3.5	1164	$10,341	$8.88	1d	18	1.39mi

Listing history 39 events

1. 2026-06-18
   days on market $179,000 Active 60 DOM
2. 2026-06-17
   days on market $179,000 Active 59 DOM
3. 2026-06-16
   days on market $179,000 Active 58 DOM
4. 2026-06-15
   days on market $179,000 Active 57 DOM
5. 2026-06-13
   days on market $179,000 Active 55 DOM
6. 2026-06-13
   days on market $179,000 Active 54 DOM
7. 2026-06-09
   days on market $179,000 Active 51 DOM
8. 2026-06-08
   days on market $179,000 Active 50 DOM
9. 2026-06-07
   days on market $179,000 Active 49 DOM
10. 2026-06-04
    days on market $179,000 Active 46 DOM
11. 2026-06-03
    days on market $179,000 Active 45 DOM
12. 2026-06-02
    pricedays on market $179,000 Active 44 DOM
13. 2026-06-01
    days on market $187,000 Active 43 DOM
14. 2026-05-31
    days on market $187,000 Active 42 DOM
15. 2026-05-21
    listed $187,000 Active
16. 2026-05-11
    soldstatus Closed
17. 2026-05-01
    status Pending
18. 2026-04-14
    historical Active Under Contract
19. 2026-03-13
    listed $187,000 Active
20. 2013-12-16
    soldstatus $11,000 Sold 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

21. 2013-12-16
    soldstatus $11,000 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

22. 2013-11-27
    status Under Contract 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

23. 2013-11-10
    historical 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

24. 2013-10-31
    historical 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

25. 2013-10-25
    price $11,500 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

26. 2013-09-25
    price $13,500 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

27. 2013-08-09
    listed $15,000 Active 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

28. 2013-08-09
    status Active 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

29. 2013-08-09
    listed $11,500 166-char remark

    Show marketing remark (166 chars)

    Investor and Handyman needed to bring this property back to life. End of the row unit in need of total rehab. Build your equity now! Sold in strictly as is condition.

30. 2012-06-30
    historical
31. 2012-03-01
    listed $11,000
32. 2012-01-23
    historical
33. 2011-05-25
    listed $23,900
34. 2007-09-20
    soldstatus $69,950
35. 2007-09-07
    soldstatus $69,950
36. 2007-07-11
    historical
37. 2007-06-09
    listed $69,950
38. 2005-06-30
    soldstatus $46,500
39. 2005-05-24
    listed $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: $1,095 · $91/mo
• Projected year-2 tax: $2,776 · $231/mo
• Expected delta: +$1,681/yr (+$140/mo · 153.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,467
• − Mortgage interest: −$10,027
• − Property taxes: −$1,095
• − Insurance: −$895
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$5,207
• Taxable income: $808
• Est. tax owed @ 24.0%: −$194
• After-tax cash flow: $3,511/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: Camden City School District
• NCES district ID: 3402640
• Math proficiency: 3% ▼ -6.00%
• Reading proficiency: 16% ▬ 0.00%
• Median HH income: $25,845
• Composite: 6.85/100
• National rank: #9981
• State rank: #472 of 472 in NJ

Livability — Camden

• Score: 70/100
• State rank: #262
• US rank: #7721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Camden, NJ
• County: Camden County · 407,624 people
• City population: 20,865
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 12,573
• Household income: $36,793
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 1141.0

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 0.57)
• Race & ethnicity: Black 54% Hispanic / Latino 36% Two or more races 9% White 5% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 19% Dominican 4%
• Common ancestry: Hispanic 1%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 22% Tagalog/Filipino 2%

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: ▼ -2.36%
• Current HPI: 162.557
• Rent YoY: —
• 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

+302.2% since first listed

25 events — show timeline

• 2026-05-21 Listed $187,000 BRIGHT MLS
• 2026-05-11 Sold (MLS) — BRIGHT MLS
• 2026-05-01 Pending — BRIGHT MLS
• 2026-04-14 Contingent — BRIGHT MLS
• 2026-03-13 Listed $187,000 BRIGHT MLS
• 2013-12-16 Sold (MLS) $11,000 BRIGHT MLS
• 2013-12-16 Sold (MLS) $11,000 TREND
• 2013-11-27 Pending — TREND
• 2013-11-10 Delisted — TREND
• 2013-10-31 Listing Removed — BRIGHT MLS
• 2013-10-25 Price Changed $11,500 TREND
• 2013-09-25 Price Changed $13,500 TREND
• 2013-08-09 Listed $15,000 TREND
• 2013-08-09 Listed $11,500 BRIGHT MLS
• 2013-08-09 Relisted — TREND
• 2012-06-30 Listing Removed — BRIGHT MLS
• 2012-03-01 Listed $11,000 BRIGHT MLS
• 2012-01-23 Listing Removed — BRIGHT MLS
• 2011-05-25 Listed $23,900 BRIGHT MLS
• 2007-09-20 Sold (Public Records) $69,950 Public Records
• 2007-09-07 Sold (MLS) $69,950 BRIGHT MLS
• 2007-07-11 Listing Removed — BRIGHT MLS
• 2007-06-09 Listed $69,950 BRIGHT MLS
• 2005-06-30 Sold (MLS) $46,500 BRIGHT MLS
• 2005-05-24 Listed $46,500 BRIGHT MLS

Property tax history

-1.2%/yr

Latest (2025): $1,095 · +4.1% YoY. Source: county tax records.