131 Evergreen Pkwy · Glassboro, NJ 08028

$299,000

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 8 Days on market

Built 1936 Est $284k · 5% over

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +5.1/15.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling All Investors!!! Internal photos and comments will be added soon. Property has been in the same family for many years. Executrix for the estates is working to empty the house. Sale includes 3 adjoining lots all of which are indersized for development. Assembling the 3 lots would provide the required 75' of frontage for residential building.

Key facts

• 2 parking spots
• Built 1936
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (12.0% below list).
• Recommended offer: $263k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.5% in Glassboro — 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 81/100 on livability (#57 in NJ, #1,498 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: cost of living D-.
• Glassboro School District (suburban): math 10% / reading 33% proficiency, ranked #412 of 472 in NJ (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dorothy L. Bullock School (math 17% / reading 17%, grade F, #1,081 of 1,303 statewide, top 84%, 651 students, 51% FRL); Thomas E. Bowe School (math 9% / reading 33%, grade F, #387 of 431 statewide, top 90%, 432 students, 49% FRL); Glassboro High School (math 9% / reading 42%, grade F, #321 of 399 statewide, top 81%, 518 students, 48% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 77 active listings in the ZIP; 4 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; 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• This rent runs 35% of the median local income ($89k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Gloucester County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $225k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $263,236 (12.0% below list)

Questions for the listing agent

1. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $283,824
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Evergreen Pkwy	0.00mi	3/1.0	1,296 (0%)	0mo	$360,000	$278	100
130 Evergreen Pkwy	0.02mi	4/2.5 (+1)	1,344 (+4%)	22mo	$435,000	$324	63
529 Fern Rd	0.46mi	3/1.0	1,216 (-6%)	7mo	$190,000	$156	62
301 Martin Luther King Dr	0.20mi	3/1.0	1,143 (-12%)	19mo	$160,000	$140	56
313 Cornell Rd	0.60mi	3/1.5	1,200 (-7%)	14mo	$352,500	$294	46
215 Deptford Rd	0.66mi	2/1.0 (-1)	1,152 (-11%)	2mo	$210,000	$182	44
300 Cornell Rd	0.62mi	3/2.0	1,368 (+6%)	17mo	$300,000	$219	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 · 4.64% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-38,256
• Equity at exit: $44,582

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-7,160
• Equity at exit: $25,852

Cash invested: $83,720 (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 08028

• Home prices YoY: -21.2%
• Rents YoY: 4.6%
• Active inventory: 77
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,632 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$296 /mo · $3,553/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $91

Break-even live

Break-even rent $2,517

Max offer price $299,000

Occupancy floor 92%

Sensitivity live

Price	-10% $260	-5% $176	+0% $91	+5% $6	+10% $-78
Rent	-10% $-117	-5% $-13	+0% $91	+5% $195	+10% $299
Rate	-1.0pp $241	-0.5pp $167	base $91	+0.5pp $13	+1.0pp $-65

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Beau Rivage Dr Glassboro, NJ	3.0	1.5	1152	$1,725	$1.50	12d	1	1.12mi
310 Ellis St Glassboro, NJ	4.0	2.0	1424	$2,550	$1.79	3d	1	1.26mi
303 Ellis St Glassboro, NJ	4.0	2.0	1440	$2,500	$1.74	20d	1	1.27mi
128-130 Wilmer St Glassboro, NJ	3.0	1.0	1140	$2,100	$1.84	20d	1	1.39mi

Listing history 18 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   historical Active Under Contract
3. 2026-04-17
   listed $299,000 Active
4. 2026-04-15
   historical $299,000
5. 2025-10-21
   status Pending
6. 2025-10-21
   historical
7. 2025-09-21
   price $349,500
8. 2025-08-20
   price $369,000
9. 2025-07-30
   price $389,900
10. 2025-07-25
    listed $409,900 Active
11. 2025-07-24
    price $409,900
12. 2025-07-22
    historical
13. 2025-03-19
    soldstatus $225,000
14. 2025-03-14
    soldstatus $225,000 Closed 353-char remark

    Show marketing remark (353 chars)

    Calling All Investors!!! Internal photos and comments will be added soon. Property has been in the same family for many years. Executrix for the estates is working to empty the house. Sale includes 3 adjoining lots all of which are indersized for development. Assembling the 3 lots would provide the required 75' of frontage for residential building.

15. 2025-02-24
    status Pending 353-char remark

    Show marketing remark (353 chars)

    Calling All Investors!!! Internal photos and comments will be added soon. Property has been in the same family for many years. Executrix for the estates is working to empty the house. Sale includes 3 adjoining lots all of which are indersized for development. Assembling the 3 lots would provide the required 75' of frontage for residential building.

16. 2025-02-17
    historical Active Under Contract 353-char remark

    Show marketing remark (353 chars)

    Calling All Investors!!! Internal photos and comments will be added soon. Property has been in the same family for many years. Executrix for the estates is working to empty the house. Sale includes 3 adjoining lots all of which are indersized for development. Assembling the 3 lots would provide the required 75' of frontage for residential building.

17. 2025-01-25
    listed $250,000 Active 353-char remark

    Show marketing remark (353 chars)

    Calling All Investors!!! Internal photos and comments will be added soon. Property has been in the same family for many years. Executrix for the estates is working to empty the house. Sale includes 3 adjoining lots all of which are indersized for development. Assembling the 3 lots would provide the required 75' of frontage for residential building.

18. 2025-01-13
    historical $250,000 353-char remark

    Show marketing remark (353 chars)

    Calling All Investors!!! Internal photos and comments will be added soon. Property has been in the same family for many years. Executrix for the estates is working to empty the house. Sale includes 3 adjoining lots all of which are indersized for development. Assembling the 3 lots would provide the required 75' of frontage for residential building.

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $3,553 · $296/mo
• Projected year-2 tax: $5,499 · $458/mo
• Expected delta: +$1,946/yr (+$162/mo · 54.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,588
• − Mortgage interest: −$16,749
• − Property taxes: −$3,553
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,527
• − Management: −$2,527
• − Depreciation: −$8,698
• Taxable loss: −$3,961
• Est. tax savings @ 24.0%: +$951
• After-tax cash flow: $2,041/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: Glassboro School District
• NCES district ID: 3405880
• Math proficiency: 10% ▼ -20.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $61,819
• Composite: 20.19/100
• National rank: #8631
• State rank: #412 of 472 in NJ

Livability — Glassboro

• Score: 81/100
• State rank: #57
• US rank: #1498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glassboro, NJ
• County: Gloucester County · 160,422 people
• City population: 25,098
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 25,098
• Household income: $89,130
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 775.0

Population outlook (Gloucester County) Hauer SSP2

• Today (2025): 298,895 people
• By 2030: 299,031 · +0.0%
• By 2040: 294,020 · -1.6%
• By 2050: 284,188 · -4.9%
• By 2075: 260,720 · -12.8%
• By 2100: 229,565 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 18% Hispanic / Latino 10% Asian 7% Two or more races 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 6%
• Common ancestry: Romanian 3% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Gloucester

• 2024 margin: Toss-up / Even · D 47.8% · R 50.6% · Other 1.6%
• 2008→2024 swing: -15.0pp toward R · 2008: 12.2pp · 2024: -2.8pp
• All cycles: 2024: R+2.8 2020: D+1.9 2016: R+0.4 2012: D+10.5 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.06%
• Current HPI: 293.7251
• Rent YoY: ▲ 4.64%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+19.6% since first listed

18 events — show timeline

• 2026-04-28 Pending — BRIGHT MLS
• 2026-04-24 Contingent — BRIGHT MLS
• 2026-04-17 Listed $299,000 BRIGHT MLS
• 2026-04-15 Coming Soon $299,000 BRIGHT MLS
• 2025-10-21 Pending — BRIGHT MLS
• 2025-10-21 Listing Removed — BRIGHT MLS
• 2025-09-21 Price Changed $349,500 BRIGHT MLS
• 2025-08-20 Price Changed $369,000 BRIGHT MLS
• 2025-07-30 Price Changed $389,900 BRIGHT MLS
• 2025-07-25 Listed $409,900 BRIGHT MLS
• 2025-07-24 Price Changed $409,900 BRIGHT MLS
• 2025-07-22 Coming Soon — BRIGHT MLS
• 2025-03-19 Sold (Public Records) $225,000 Public Records
• 2025-03-14 Sold (MLS) $225,000 BRIGHT MLS
• 2025-02-24 Pending — BRIGHT MLS
• 2025-02-17 Contingent — BRIGHT MLS
• 2025-01-25 Listed $250,000 BRIGHT MLS
• 2025-01-13 Coming Soon $250,000 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2025): $3,553 · +3.3% YoY. Source: county tax records.