A-11 Cookstown New Egypt Rd

Cookstown, NJ 08562

$69,900B+

2 bd · 1.0 ba · 1,000 sqft · Built 1983 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,688/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$116
• HOA: −$625
• Vac / Maint / Mgmt: −$564
• Net cashflow: $1,015/mo
• Annual: $12,185/yr
• Cap rate: 23.73%
• Cash-on-cash: 62.26%
• DSCR: 3.77
• 1% rule: 3.85%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• It's been on market 18 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($483 loan paydown + $5k appreciation (7.3% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Northern Burlington County Regional School District (rural): math 27% / reading 57% proficiency, ranked #198 of 472 in NJ (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Clarence B. Lamb Elementary School (math 22% / reading 42%, grade F, #661 of 1,303 statewide, top 54%, 294 students, 32% FRL); Northern Burlington County Regional Middle School (math 27% / reading 56%, grade F, #182 of 431 statewide, top 43%, 703 students, 13% FRL); Northern Burlington County Regional High School (math 27% / reading 58%, grade F, #166 of 399 statewide, top 42%, 1,427 students, 13% FRL).
• Watch-outs: HOA is 23% of rent.
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — can be replaced with modern ones
• Minor: bathroom vanity — can be replaced with modern ones
• Moderate: exterior siding — needs repainting or replacement