108 Oak Dr · Ocean Acres, NJ 08005

$65,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured · 47 Days on market

Built 1981 Good condition $65/sqft · 180% above area

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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
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained 2-bedroom, 2-bath home located in the highly desirable 55+ community of Pinewood Estates in Barnegat. Offering approximately 1,000 square feet of comfortable living space, this home is perfect for those seeking low-maintenance living in a peaceful, well-kept neighborhood. Step inside to find a bright and inviting layout with a spacious living area, functional kitchen, and generously sized bedrooms. The home has been well cared for and offers a warm, welcoming feel throughout. Outside, enjoy the convenience of a covered carport with space for multiple vehicles, providing protection from the elements year-round. The property also offers a nicely maintain

Key facts

• Covered carport
• Quiet setting
• Minutes from dining

Tags

• COVERED CARPORT
• NICELY MAINTAINED EXTERIOR
• QUIET SETTING
• MINUTES FROM SHOPPING
• MINUTES FROM DINING
• MINUTES FROM MAJOR ROADWAYS

Property features AI

Finance

• HOA & community: Adult community (55+)

Exterior

• Parking: Two-car exterior parking
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Mobile home; Property listed for sale
• Construction: Vinyl siding
• Exterior features: Deck; Patio; Porch; Shed; Handicap access; Screens

Interior

• Kitchen: Gas stove; Microwave; Refrigerator; Pantry
• Bedrooms: 5 rooms total (includes living/bonus spaces such as den and dining area)
• Flooring: Vinyl; Laminate; Wall-to-wall carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Property-owned gas; Above-ground tank
• Interior features: Blinds, Curtains, Shades; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.0% vs local median 3.1% in Ocean Acres — 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 63/100 on livability (#425 in NJ) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• Barnegat Township School District (suburban): math 23% / reading 46% proficiency, ranked #285 of 472 in NJ (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 254 active listings in the ZIP; solid renter incomes; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 31% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.70% ✓
• Cap rate: 33.05%
• Cash-on-cash: 95.56%
• DSCR: 5.25
• GRM: 2.3

CMA / ARV

• ARV (median comp): $23,230
• List price: $65,000
• Delta: 179.81%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Redwood Dr	0.14mi	2/1.0	1,000 (0%)	8mo	$142,000	$142	83
112 Juniper Dr	0.13mi	2/2.0	999 (-0%)	19mo	$40,000	$40	78
114 Magnolia Ln	0.05mi	2/1.0	900 (-10%)	3mo	$4,000	$4	74
114 Oak Dr	0.01mi	2/2.0	900 (-10%)	15mo	$50,000	$56	70
112 Chestnut Dr	0.37mi	2/1.0	900 (-10%)	5mo	$77,000	$86	58
150 Chestnut St	0.32mi	2/1.5	900 (-10%)	13mo	$32,500	$36	56

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: 96.5%
• Equity multiple: 5.50×
• Total profit: $81,812
• Equity at exit: $9,692

10-year hold

• IRR: 99.2%
• Equity multiple: 11.45×
• Total profit: $190,250
• Equity at exit: $5,620

Cash invested: $18,200 (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 08005

• Active inventory: 254
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,403 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $1,449

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,494	-5% $1,472	+0% $1,449	+5% $1,427	+10% $1,404
Rent	-10% $1,259	-5% $1,354	+0% $1,449	+5% $1,544	+10% $1,639
Rate	-1.0pp $1,482	-0.5pp $1,466	base $1,449	+0.5pp $1,432	+1.0pp $1,415

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $65,000 Active 47 DOM
2. 2026-06-18
   days on market $65,000 Active 44 DOM
3. 2026-06-17
   pricedays on market $65,000 Active 43 DOM
4. 2026-06-16
   days on market $59,990 Active 42 DOM
5. 2026-06-15
   days on market $59,990 Active 41 DOM
6. 2026-06-13
   days on market $59,990 Active 39 DOM
7. 2026-06-13
   days on market $59,990 Active 38 DOM
8. 2026-06-09
   days on market $59,990 Active 35 DOM
9. 2026-06-08
   days on market $59,990 Active 34 DOM
10. 2026-06-07
    days on market $59,990 Active 33 DOM
11. 2026-06-04
    pricedays on market $59,990 Active 30 DOM
12. 2026-06-03
    days on market $65,000 Active 29 DOM
13. 2026-06-02
    days on market $65,000 Active 28 DOM
14. 2026-06-02
    status $65,000 Active 27 DOM
15. 2026-06-01
    days on market $65,000 Under Contract 27 DOM
16. 2026-05-31
    days on market $65,000 Under Contract 26 DOM
17. 2026-05-05
    listed $65,000 Active 1008-char remark

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

Taxation est. · year 1

• Rental income: $28,838
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$2,307
• − Management: −$2,307
• − Depreciation: −$1,891
• Taxable income: $17,392
• Est. tax owed @ 24.0%: −$4,174
• After-tax cash flow: $13,218/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 · 10 photos

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom, 2-bath home in Pinewood Estates offers a comfortable and low-maintenance living space with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace carpet with hardwood or tile — Improves aesthetics and is easier to maintain
• Both Install smart home devices — Enhances comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood or tile — Improves aesthetics and is easier to maintain ↑
• Both Install smart home devices — Enhances comfort and energy efficiency ↑

ⓘ 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: Barnegat Township School District
• NCES district ID: 3416470
• Math proficiency: 23% ▼ -14.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $63,645
• Composite: 31.15/100
• National rank: #6059
• State rank: #285 of 472 in NJ

Livability — Ocean Acres

• Score: 63/100
• State rank: #425
• US rank: #15187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ocean County · 439,426 people
• City population: 25,936
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,866
• Household income: $93,584
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 384.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 9% Scotch-Irish 2% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

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: ▼ -204.01%
• Current HPI: 344.3189
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+0.0% since first listed

5 events — show timeline

• 2026-06-17 Price Changed $65,000 SJSRMLS
• 2026-06-04 Price Changed $59,990 SJSRMLS
• 2026-06-01 Relisted — SJSRMLS
• 2026-05-29 Contingent — SJSRMLS
• 2026-05-05 Listed $65,000 SJSRMLS