4 Indiana Way Unit B · Cedar Glen Lakes, NJ 08759

$129,000

2 bd · 1.0 ba · 916 sqft · SingleFamily · 17 Days on market

Built 1970 Fair condition Est $92k · 41% over $446/mo HOA · 20% 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 +28.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come take a look and make an offer! House is empty and Move-in ready! This home is a Madison duplex located in an Active adult pet-friendly community with Clubhouse, planned activities, community bus to local malls, grocery stores, churches and more. Low HOA fee includes taxes, exterior maintenance, water and sewer it also covers lawn care, snow removal, trash pick up, hot water heater, front gutter and roof. This home features a large, just painted, living room (new carpet ordered),an updated eat in kitchen, 2 bedrooms, an updated bath and central air conditioning. Outside a private front porch with ramp and outdoor storage closet. The area has local shopping centers, banks, pharmacies and doctor's offices. Conveniently located off Routes 70 & 539. A perfect escape for your retirement!

Key facts

• Outdoor storage
• Hot water heater
• Single-level living

Tags

• SINGLE-LEVEL LIVING
• NEWER HVAC SYSTEM
• HOT WATER HEATER
• OUTDOOR STORAGE

Property features AI

Finance

• HOA & community: HOA with monthly fee; Monthly association fee of $446; Association amenities include exercise room, clubhouse, community room, common area; no pool; HOA fee covers trash, common area maintenance, lawn maintenance, sewer, snow removal, and water

Exterior

• Parking: No garage
• Utilities: Public sewer
• Home design: Cooperative ownership; Model: Madison Basic
• Exterior features: Shingle roof

Interior

• Kitchen: Includes dishwasher, microwave, stove, refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Linoleum; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric baseboard heating; Central air conditioning
• Interior features: Washer, Dryer, Dishwasher, Microwave, Stove, Refrigerator; Crawl space basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $127k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#406 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $60k; list at $129k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,065 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.71% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $91,600
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Roosevelt City Rd Unit B	0.09mi	1/1.0 (-1)	1,000 (+9%)	7mo	$94,500	$95	69
10 B Virginia Dr	0.25mi	1/1.0 (-1)	1,000 (+9%)	5mo	$57,500	$58	64
21 Maryland Ave Unit B	0.31mi	2/1.0	1,000 (+9%)	10mo	$92,500	$93	62
29A Maine Ave	0.29mi	2/1.0	1,000 (+9%)	13mo	$100,000	$100	61
5 Ohio Dr Unit B	0.41mi	2/1.0	1,000 (+9%)	8mo	$130,000	$130	59
6 S South Carolina Way	0.29mi	2/1.0	1,000 (+9%)	18mo	$145,000	$145	56
59 Maryland Ave Unit B	0.45mi	2/1.0	1,000 (+9%)	12mo	$135,000	$135	54
29 Arizona Ave Unit B	0.58mi	1/1.0 (-1)	1,000 (+9%)	2mo	$86,500	$87	51
35 Arizona Ave	0.61mi	2/1.0	1,000 (+9%)	16mo	$169,000	$169	43

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

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $4,912
• Equity at exit: $19,234

10-year hold

• IRR: 13.2%
• Equity multiple: 2.06×
• Total profit: $38,373
• Equity at exit: $11,154

Cash invested: $36,120 (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 08759

• Active inventory: 648
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$446
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $401

Break-even live

Break-even rent $1,693

Max offer price $129,000

Occupancy floor 77%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Westport Dr #71 Whiting, NJ	2.0	1.0	1120	$2,200	$1.96	1d	1	1.32mi

HOA detail

• Monthly dues: $446 · $5,352/yr
• Likely covers: watersewertrashlandscapingsnow removalexterior maint.

Listing history 12 events

1. 2026-06-18
   days on market $129,000 Active 17 DOM
2. 2026-06-17
   days on market $129,000 Active 16 DOM
3. 2026-06-16
   days on market $129,000 Active 15 DOM
4. 2026-06-15
   days on market $129,000 Active 14 DOM
5. 2026-06-13
   days on market $129,000 Active 12 DOM
6. 2026-06-09
   days on market $129,000 Active 8 DOM
7. 2026-06-08
   days on market $129,000 Active 7 DOM
8. 2026-06-07
   days on market $129,000 Active 6 DOM
9. 2026-06-04
   days on market $129,000 Active 3 DOM
10. 2026-06-03
    days on market $129,000 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $129,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,400
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − HOA: −$5,352
• − Depreciation: −$3,753
• Taxable income: $3,265
• Est. tax owed @ 24.0%: −$784
• After-tax cash flow: $4,022/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 · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and updates to improve its condition and value. The kitchen and bathroom need updates, and the exterior siding requires repair. Fresh paint and new cabinets would significantly enhance its appeal.

Repairs flagged

• Moderate kitchen cabinets — outdated and worn
• Moderate bathroom fixtures — outdated and worn
• Moderate exterior siding — worn and in need of repainting

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics
• Resale repair exterior siding — new siding improves curb appeal and durability

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and worn	Moderate	$3,000–15,000
bathroom fixtures · outdated and worn	Moderate	$3,000–15,000
exterior siding · worn and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics ↑
• Resale repair exterior siding — new siding improves curb appeal and durability ↑

ⓘ 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: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Cedar Glen Lakes

• Score: 64/100
• State rank: #406
• US rank: #14186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Glen Lakes, NJ
• Population (ZIP): 34,290

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.85%
• Current HPI: 274.4679
• 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

+115.0% since first listed

4 events — show timeline

• 2026-06-01 Listed $129,000 MOMLS
• 2020-11-03 Sold (MLS) $60,000 MOMLS
• 2020-10-13 Pending — MOMLS
• 2020-09-14 Listed $60,000 MOMLS