14 Bellevue Ter

Collingswood, NJ 08108

$195,000C

3 bd · 1.0 ba · 1,135 sqft · Built 1928 · SingleFamily · Pending · 119 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,245/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$531
• HOA: −$0
• Vac / Maint / Mgmt: −$471
• Net cashflow: $220/mo
• Annual: $2,636/yr
• Cap rate: 7.64%
• Cash-on-cash: 4.83%
• DSCR: 1.21
• 1% rule: 1.15%
• Cash to close: $54,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 119 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#81 in NJ, #1,941 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A, housing A; Watch: cost of living F.
• Collingswood Public School District (suburban): math 17% / reading 56% proficiency, ranked #269 of 472 in NJ (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.8% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 81 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 23y 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 $82k; list at $195k implies a 138% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 38% 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.
• Cap rate 7.6% vs local median 2.9% in Collingswood — 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.

Questions for listing agent

• It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.