2008 Lucas Ln · Echelon, NJ 08043

$169,900

1 bd · 1.0 ba · 654 sqft · Condo public records · 9 Days on market

Built 1989 $195/mo HOA · 12% 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 +10.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• DSCR +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home offers a great Living Room with Wood Burning Fireplace and Hardwood flooring with sliding doors to a great balcony. spacious Dining Room also with Hardwood flooring. Kitchen has been updated with granite counter tops, stainless steel appliances and plenty of cabinet space. The bathroom has been updated and includes double head shower. . This is a 2nd-floor unit. Association permits a Cat only no dogs. Enjoy the many restaurants and shopping.

Key facts

• Great natural light
• Private balcony
• Ample cabinet space

Tags

• PRIVATE BALCONY
• COZY FIREPLACE
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• AMPLE CABINET SPACE
• GREAT NATURAL LIGHT

Property features AI

Finance

• HOA & community: Condo fee of $195 monthly; HOA covers common area maintenance, exterior building maintenance, insurance, lawn maintenance, pest control, road maintenance, and snow removal

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric-powered heating, cooling, and hot water
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry on level 2; Frame construction
• Construction: Frame construction; Above-grade and below-grade structures
• Exterior features: Parking lot; Pets allowed on a case-by-case basis; Not in a federal flood zone

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s); Electric hot water; 100 Amp electrical service with circuit breakers
• Interior features: Dining area; Galley kitchen; Tub/shower; Upgraded countertops; Walk-in closet(s); Window treatments; Wood floors; Fireplace with wood-burning hearth
• Laundry & utility: Washer/dryer hookup in unit (main floor laundry)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-83 ($-995/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (0.8% below list).
• Recommended offer: $155k (8.6% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 4.3% in Echelon — 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 76/100 on livability (#141 in NJ, #3,732 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, employment A-; Watch: amenities C-, schools D, commute F.
• Voorhees Township School District (suburban): math 38% / reading 61% proficiency, ranked #134 of 472 in NJ (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.0%/yr); 140 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $5k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 24y 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 $141k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 52% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,246 (8.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.09%
• DSCR: 0.91
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.28×
• Total profit: $-34,353
• Equity at exit: $25,333

10-year hold

• IRR: -17.2%
• Equity multiple: 0.10×
• Total profit: $-42,897
• Equity at exit: $14,690

Cash invested: $47,572 (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 08043

• Rents YoY: 2.0%
• Active inventory: 140
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,685 high
• Mortgage (P&I): −$891
• Tax from tax record: −$257 /mo · $3,086/yr
• Insurance: −$71
• HOA: −$195
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-83

Break-even live

Break-even rent $1,790

Max offer price $155,246

Occupancy floor 100%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Lucas Ln Voorhees Township, NJ	2.0	1.0	658	$1,792	$2.72	1d	34	0.32mi
225 Echelon Rd Voorhees, NJ	1.0–2.0	1.0–2.0	850	$1,740	$2.05	1d	1	0.48mi
314 Echelon Rd Voorhees Township, NJ	1.0–2.0	1.0	759	$1,750	$2.31	1d	1	0.56mi
250 S Burnt Mill Rd Voorhees Township, NJ	1.0	1.0	650	$1,738	$2.67	1d	6	0.72mi
140 Dartmouth Ave Somerdale, NJ	1.0	1.0	556	$1,495	$2.69	2d	1	0.86mi
115 Wright Ave Stratford, NJ	1.0	1.0	616	$1,578	$2.56	1d	4	0.95mi
319 Columbia Ave Unit 1BR Stratford, NJ	1.0	1.0	650	$1,750	$2.69	1d	1	1.13mi
627 N White Horse Pike Unit 1 Somerdale, NJ	1.0	1.0	700	$1,450	$2.07	1d	1	1.26mi
617 N White Horse Pike Laurel Springs, NJ	1.0	1.0	600	$1,220	$2.03	20d	1	1.45mi

HOA detail condo

• Monthly dues: $195 · $2,340/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-07
   statusdays on market $169,900 Pending 9 DOM
2. 2026-06-04
   days on market $169,900 Active 8 DOM
3. 2026-06-03
   days on market $169,900 Active 7 DOM
4. 2026-06-02
   days on market $169,900 Active 6 DOM
5. 2026-06-01
   days on market $169,900 Active 5 DOM
6. 2026-05-31
   days on market $169,900 Active 4 DOM
7. 2026-05-20
   listed $169,900 Active 124-char remark
8. 2022-05-05
   soldstatus $141,000
9. 2022-04-04
   soldstatus $141,000 Closed 455-char remark

   Show marketing remark (455 chars)

   This home offers a great Living Room with Wood Burning Fireplace and Hardwood flooring with sliding doors to a great balcony. spacious Dining Room also with Hardwood flooring. Kitchen has been updated with granite counter tops, stainless steel appliances and plenty of cabinet space. The bathroom has been updated and includes double head shower. . This is a 2nd-floor unit. Association permits a Cat only no dogs. Enjoy the many restaurants and shopping.

10. 2022-03-09
    status Pending 455-char remark

    Show marketing remark (455 chars)

    This home offers a great Living Room with Wood Burning Fireplace and Hardwood flooring with sliding doors to a great balcony. spacious Dining Room also with Hardwood flooring. Kitchen has been updated with granite counter tops, stainless steel appliances and plenty of cabinet space. The bathroom has been updated and includes double head shower. . This is a 2nd-floor unit. Association permits a Cat only no dogs. Enjoy the many restaurants and shopping.

11. 2022-03-02
    listed $129,900 Active 455-char remark

    Show marketing remark (455 chars)

    This home offers a great Living Room with Wood Burning Fireplace and Hardwood flooring with sliding doors to a great balcony. spacious Dining Room also with Hardwood flooring. Kitchen has been updated with granite counter tops, stainless steel appliances and plenty of cabinet space. The bathroom has been updated and includes double head shower. . This is a 2nd-floor unit. Association permits a Cat only no dogs. Enjoy the many restaurants and shopping.

12. 2020-05-06
    status Pending
13. 2020-05-06
    historical
14. 2020-03-03
    historical Active Under Contract
15. 2020-02-24
    listed $74,900 Active
16. 2019-12-20
    historical
17. 2019-11-15
    listed $89,900 Active
18. 2010-04-15
    soldstatus $105,000
19. 2010-03-31
    soldstatus $105,000
20. 2010-03-31
    soldstatus $105,000
21. 2010-03-10
    historical
22. 2009-11-04
    listed $109,900
23. 2009-11-04
    listed $109,900
24. 2009-04-30
    historical
25. 2009-02-18
    listed $118,900
26. 2004-02-04
    soldstatus $69,500
27. 2003-12-30
    soldstatus $69,500
28. 2003-12-01
    historical
29. 2002-04-19
    listed $69,500
30. 1996-09-18
    soldstatus $54,633
31. 1993-07-23
    soldstatus $96,000
32. 1920-12-18
    soldstatus $69,500

ⓘ 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: $3,086 · $257/mo
• Projected year-2 tax: $3,658 · $305/mo
• Expected delta: +$572/yr (+$48/mo · 18.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,218
• − Mortgage interest: −$9,517
• − Property taxes: −$3,086
• − Insurance: −$850
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − HOA: −$2,340
• − Depreciation: −$4,943
• Taxable loss: −$3,752
• Est. tax savings @ 24.0%: +$901
• After-tax cash flow: $-95/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: Voorhees Township School District
• NCES district ID: 3416830
• Math proficiency: 38% ▼ -22.00%
• Reading proficiency: 61% ▼ -13.00%
• Median HH income: $81,601
• Composite: 45.3/100
• National rank: #2651
• State rank: #134 of 472 in NJ

Livability — Echelon

• Score: 76/100
• State rank: #141
• US rank: #3732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Echelon, NJ
• County: Camden County · 407,624 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 31,191
• Household income: $105,473
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1415.0

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 0.58)
• Race & ethnicity: White 61% Asian 20% Black 8% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 4% Scotch-Irish 2% Italian 1%
• Foreign-born: 20% · Canada, China, Vietnam
• Languages at home: 75% English-only · Other Indo-European 10% Spanish 4% Other Asian/Pacific 3%

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: ▼ -198.34%
• Current HPI: 300.3058
• Rent YoY: ▲ 1.98%
• 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

+144.5% since first listed

27 events — show timeline

• 2026-06-05 Pending — BRIGHT MLS
• 2026-05-27 Listed $169,900 BRIGHT MLS
• 2022-05-05 Sold (Public Records) $141,000 Public Records
• 2022-04-04 Sold (MLS) $141,000 BRIGHT MLS
• 2022-03-09 Pending — BRIGHT MLS
• 2022-03-02 Listed $129,900 BRIGHT MLS
• 2020-05-06 Pending — BRIGHT MLS
• 2020-05-06 Listing Removed — BRIGHT MLS
• 2020-03-03 Contingent — BRIGHT MLS
• 2020-02-24 Listed $74,900 BRIGHT MLS
• 2019-12-20 Listing Removed — BRIGHT MLS
• 2019-11-15 Listed $89,900 BRIGHT MLS
• 2010-04-15 Sold (Public Records) $105,000 Public Records
• 2010-03-31 Sold (MLS) $105,000 TREND
• 2010-03-31 Sold (MLS) $105,000 BRIGHT MLS
• 2010-03-10 Listing Removed — BRIGHT MLS
• 2009-11-04 Listed $109,900 TREND
• 2009-11-04 Listed $109,900 BRIGHT MLS
• 2009-04-30 Listing Removed — BRIGHT MLS
• 2009-02-18 Listed $118,900 BRIGHT MLS
• 2004-02-04 Sold (Public Records) $69,500 Public Records
• 2003-12-30 Sold (MLS) $69,500 BRIGHT MLS
• 2003-12-01 Listing Removed — BRIGHT MLS
• 2002-04-19 Listed $69,500 BRIGHT MLS
• 1996-09-18 Sold (Public Records) $54,633 Public Records
• 1993-07-23 Sold (Public Records) $96,000 Public Records
• 1920-12-18 Sold (Public Records) $69,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $3,086 · +13.2% YoY. Source: county tax records.