120 High St · Leesburg, NJ 08327

$110,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 25 Days on market

Built 1928 0.50 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Charming 1928 Cape Cod in Leesburg, located in Maurice River Township, offering a great opportunity for investors or buyers ready to bring a home back to life. This 2-bedroom, 1-bath property features classic character and a traditional layout. Property will require updates and repairs to restore it to its full potential. An unfinished attic provides excellent potential for additional living space, perfect for a bonus room, office, or expanded bedroom area. The property also includes a detached 2-car garage, offering ample storage or workspace. This is a true fixer-upper being sold strictly as-is. The buyer is responsible for all inspections, certifications, and repairs. The seller makes no

Key facts

• Unfinished attic
• Detached garage
• 0.5 acre lot

Tags

• UNFINISHED ATTIC
• DETACHED GARAGE

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Detached front-entry garage with 2 spaces
• Utilities: Natural gas; Well water; Septic
• Home design: Detached structure; Frame construction
• Construction: Block foundation; Above-grade and below-grade structures
• Exterior features: Well water; Septic system

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: 90% forced air heating (natural gas); Window unit cooling; Natural gas hot water
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Maurice River Township School District (rural): math 14% / reading 37% proficiency, ranked #376 of 472 in NJ (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $761 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.68% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.16%
• DSCR: 1.90
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $260,032
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 High St	0.07mi	3/1.0 (+1)	1,094 (+1%)	24mo	$229,900	$210	71
69 High St	0.50mi	3/1.0 (+1)	1,126 (+4%)	3mo	$269,520	$239	64

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

Projected returns pro-forma

-2.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.62×
• Total profit: $19,168
• Equity at exit: $20,554

10-year hold

• IRR: 22.3%
• Equity multiple: 3.05×
• Total profit: $63,143
• Equity at exit: $16,799

Cash invested: $30,800 (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 08327

• Home prices YoY: -1.3%
• Active inventory: 10
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$321 /mo · $3,858/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $517

Break-even live

Break-even rent $1,195

Max offer price $110,000

Occupancy floor 67%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Broad St Unit 2 Millville, NJ	2.0	2.0	1000	$1,850	$1.85	44d	1	0.26mi

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-04-17
   listed $110,000 Active

ⓘ 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: $3,858 · $321/mo
• Projected year-2 tax: $3,858 · $321/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 41% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,200
• − Mortgage interest: −$6,162
• − Property taxes: −$3,858
• − Insurance: −$550
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$3,200
• Taxable income: $4,878
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $5,037/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: Maurice River Township School District
• NCES district ID: 3409780
• Math proficiency: 14% ▼ -13.00%
• Reading proficiency: 37% ▼ -3.00%
• Median HH income: $64,846
• Composite: 23.8/100
• National rank: #7810
• State rank: #376 of 472 in NJ

Livability — Leesburg

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

Census & demographics

• Census place: Leesburg, NJ
• Population (ZIP): 3,505

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 45% White 29% Hispanic / Latino 26%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Dominican 3%
• Common ancestry: Slovak 1% Romanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 16% Arabic 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.16%
• Current HPI: 167.7001
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-12 Pending — BRIGHT MLS
• 2026-04-17 Listed $110,000 BRIGHT MLS

Property tax history

+1.5%/yr

Latest (2025): $3,858 · -0.5% YoY. Source: county tax records.