67 Dorchester Dr Unit E · Leisure Village, NJ 08701

$145,000

2 bd · 1.0 ba · 928 sqft · SingleFamily · 88 Days on market

Built 1965 871 sqft lot $156/sqft · 28% below area Est $201k · 28% under $397/mo HOA · 19% 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 +22.9/30.0
• ARV discount +15.0/15.0
• 1% rule +9.4/10.0
• DSCR +7.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Leisure Village, a desirable 55+ community! This 2-bedroom, 1-bath home is full of potential and ready for your personal touch. Featuring a functional layout with spacious living area and well-sized bedrooms with ample closet space, this home has solid potential for the right buyer. Home Being Sold ''As Is'' Leisure Village Community offers many exceptional amenities, two pools, two clubhouses, security gate, including seven freshwater lakes, two stocked with fish, kayaking, a 9 hole-golf course, gym, shuffleboard, pickleball, basketball, and so much more. Conveniently located near shopping, dining, and major roadways. Great value with endless possibilities!

Key facts

• Security gate
• Two clubhouses
• 9 hole-golf course

Tags

• TWO POOLS
• TWO CLUBHOUSES
• SECURITY GATE
• SEVEN FRESHWATER LAKES
• 9 HOLE-GOLF COURSE
• GYM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 6.0% in Leisure Village — 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 64/100 on livability (#416 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B; Watch: schools D, amenities F, commute F.
• Lakewood Township School District (suburban): math 17% / reading 28% proficiency, ranked #417 of 472 in NJ (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 425 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 39% of the median local income ($65k/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 $1k 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.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $145k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.44% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.34
• GRM: 5.8

CMA / ARV

• ARV (median comp): $201,287
• List price: $145,000
• Delta: -27.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51A Cambridge Ct	0.14mi	2/1.0	987 (+6%)	2mo	$140,000	$142	81
49C Cambridge Ct Unit 100c	0.21mi	2/1.0	987 (+6%)	2mo	$189,000	$191	78
35F Cambridge Ct	0.23mi	2/1.0	987 (+6%)	2mo	$115,000	$117	76
699A Plymouth Dr Unit 699A	0.46mi	2/1.0	982 (+6%)	1mo	$259,000	$264	68
404A Picardy Ct	0.50mi	2/1.0	982 (+6%)	0mo	$235,000	$239	66
703 Plymouth Dr Unit A	0.50mi	2/1.0	982 (+6%)	1mo	$265,000	$270	66
145B Buckingham Dr	0.18mi	1/1.0 (-1)	808 (-13%)	1mo	$179,900	$223	65
681B New Castle Ct	0.51mi	2/1.0	982 (+6%)	2mo	$147,000	$150	65
465D Thornbury Ct	0.63mi	2/1.0	982 (+6%)	2mo	$205,000	$209	59
402 Picardy Ct Unit B	0.47mi	2/1.0	1,036 (+12%)	0mo	$259,900	$251	59
243D Jefferson Ct	0.47mi	2/1.0	1,036 (+12%)	0mo	$170,000	$164	58
537D Dartmoor Ct	0.69mi	2/1.0	982 (+6%)	2mo	$200,000	$204	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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-6,989
• Equity at exit: $21,620

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $15,935
• Equity at exit: $12,537

Cash invested: $40,600 (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 08701

• Active inventory: 425
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,094 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$397
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $255

Break-even live

Break-even rent $1,771

Max offer price $145,000

Occupancy floor 83%

Sensitivity live

Price	-10% $355	-5% $305	+0% $255	+5% $205	+10% $155
Rent	-10% $89	-5% $172	+0% $255	+5% $338	+10% $420
Rate	-1.0pp $328	-0.5pp $292	base $255	+0.5pp $217	+1.0pp $179

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47L Cambridge Ct Lakewood, NJ	2.0	1.0	841	$1,795	$2.13	25d	1	0.17mi
341B Canterbury Ct Lakewood, NJ	2.0	1.0	982	$2,275	$2.32	23d	1	0.23mi
106A Edinburgh Ln Lakewood, NJ	2.0	1.0	858	$2,200	$2.56	18d	1	0.26mi
335A Canterbury Ct Lakewood, NJ	2.0	1.0	982	$1,950	$1.99	20d	1	0.31mi
219 Buckingham Ct Lakewood, NJ	1.0	1.0	663	$1,900	$2.87	44d	1	0.49mi
278C Kingston Ct Lakewood, NJ	2.0	1.0	1000	$2,250	$2.25	3d	1	0.57mi
1042C Aberdeen Dr Unit C Lakewood, NJ	2.0	1.0	982	$2,000	$2.04	5d	1	1.09mi
523 Sophee Ln #1000 Lakewood, NJ	1.0	1.0	889	$1,800	$2.02	0d	1	1.18mi
824A Balmoral Ct Unit A Toms River, NJ	2.0	1.0	982	$2,200	$2.24	20d	1	1.19mi
829A Balmoral Ct Unit 1001 Lakewood, NJ	1.0	1.0	663	$1,600	$2.41	25d	1	1.23mi
1100 Deer Path Lakewood, NJ	2.0	1.0–1.5	1187	$2,575	$2.17	0d	4	1.49mi

HOA detail

• Monthly dues: $397 · $4,764/yr
• Likely covers: waterpoolgymsecurity

Listing history 20 events

1. 2026-06-21
   days on market $145,000 Active 88 DOM
2. 2026-06-18
   days on market $145,000 Active 85 DOM
3. 2026-06-17
   days on market $145,000 Active 84 DOM
4. 2026-06-16
   days on market $145,000 Active 83 DOM
5. 2026-06-15
   days on market $145,000 Active 82 DOM
6. 2026-06-13
   days on market $145,000 Active 80 DOM
7. 2026-06-13
   days on market $145,000 Active 79 DOM
8. 2026-06-09
   days on market $145,000 Active 76 DOM
9. 2026-06-08
   days on market $145,000 Active 75 DOM
10. 2026-06-07
    days on market $145,000 Active 74 DOM
11. 2026-06-04
    days on market $145,000 Active 71 DOM
12. 2026-06-03
    days on market $145,000 Active 70 DOM
13. 2026-06-02
    days on market $145,000 Active 69 DOM
14. 2026-06-01
    pricedays on market $145,000 Active 68 DOM
15. 2026-05-31
    days on market $155,000 Active 67 DOM
16. 2026-05-08
    price $155,000 681-char remark

    Show marketing remark (681 chars)

    Welcome to Leisure Village, a desirable 55+ community! This 2-bedroom, 1-bath home is full of potential and ready for your personal touch. Featuring a functional layout with spacious living area and well-sized bedrooms with ample closet space, this home has solid potential for the right buyer. Home Being Sold ''As Is'' Leisure Village Community offers many exceptional amenities, two pools, two clubhouses, security gate, including seven freshwater lakes, two stocked with fish, kayaking, a 9 hole-golf course, gym, shuffleboard, pickleball, basketball, and so much more. Conveniently located near shopping, dining, and major roadways. Great value with endless possibilities!

17. 2026-04-16
    price $160,000 681-char remark

    Show marketing remark (681 chars)

    Welcome to Leisure Village, a desirable 55+ community! This 2-bedroom, 1-bath home is full of potential and ready for your personal touch. Featuring a functional layout with spacious living area and well-sized bedrooms with ample closet space, this home has solid potential for the right buyer. Home Being Sold ''As Is'' Leisure Village Community offers many exceptional amenities, two pools, two clubhouses, security gate, including seven freshwater lakes, two stocked with fish, kayaking, a 9 hole-golf course, gym, shuffleboard, pickleball, basketball, and so much more. Conveniently located near shopping, dining, and major roadways. Great value with endless possibilities!

18. 2026-03-26
    listed $165,000 Active 681-char remark

    Show marketing remark (681 chars)

    Welcome to Leisure Village, a desirable 55+ community! This 2-bedroom, 1-bath home is full of potential and ready for your personal touch. Featuring a functional layout with spacious living area and well-sized bedrooms with ample closet space, this home has solid potential for the right buyer. Home Being Sold ''As Is'' Leisure Village Community offers many exceptional amenities, two pools, two clubhouses, security gate, including seven freshwater lakes, two stocked with fish, kayaking, a 9 hole-golf course, gym, shuffleboard, pickleball, basketball, and so much more. Conveniently located near shopping, dining, and major roadways. Great value with endless possibilities!

19. 2009-11-02
    soldstatus $58,000 203-char remark

    Show marketing remark (203 chars)

    2bed 1 bath Leisure Village Marlboro Model. Interior FRESHLY PAINTED!!!NEW CLOSET DOORS!!! NEW KITCHEN FLOOR!!!! NEW WALL TO WALL CARPET!!!! BEST PRICED UNIT IN OLV. 24 HOUR NURSING STAFF ON PREMISSES!!!

20. 2009-07-31
    listed $64,500 203-char remark

    Show marketing remark (203 chars)

    2bed 1 bath Leisure Village Marlboro Model. Interior FRESHLY PAINTED!!!NEW CLOSET DOORS!!! NEW KITCHEN FLOOR!!!! NEW WALL TO WALL CARPET!!!! BEST PRICED UNIT IN OLV. 24 HOUR NURSING STAFF ON PREMISSES!!!

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,123
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − HOA: −$4,764
• − Depreciation: −$4,218
• Taxable income: $1,099
• Est. tax owed @ 24.0%: −$264
• After-tax cash flow: $2,795/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: Lakewood Township School District
• NCES district ID: 3408220
• Math proficiency: 17% ▼ -4.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $42,301
• Composite: 19.21/100
• National rank: #8813
• State rank: #417 of 472 in NJ

Livability — Leisure Village

• Score: 64/100
• State rank: #416
• US rank: #14624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leisure Village, NJ
• County: Ocean County · 439,426 people
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 139,149
• Household income: $64,959
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 5757.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 6% Italian 5% Scotch-Irish 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 9% German/W. Germanic 7% Russian/Polish/Slavic 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: ▼ -682.83%
• Current HPI: 465.344
• 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

+140.3% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $155,000 MOMLS
• 2026-04-16 Price Changed $160,000 MOMLS
• 2026-03-26 Listed $165,000 MOMLS
• 2009-11-02 Sold (MLS) $58,000 MOMLS
• 2009-07-31 Listed $64,500 MOMLS