122 Priest Blvd · Rio Grande, NJ 08242

$177,500

2 bd · 2.0 ba · 900 sqft · Manufactured · 13 Days on market

Built 2026 Est $145k · 22% over

---

Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks

LISTING IS A RIGHT OF FIRST REFUSAL FOR ORDERED HOME TO BE DELIVERED IN AUGUST. BUYER WOULD POST A $10,000 REFUNDABLE DEPOSIT. WHEN HOME IS DELIVERED, BUYER WILL BE NOTIFIED AND WILL HAVE 7 DAYS TO INSPECT THE HOME AND CONFIRM OR CANCEL THE SALE. IF CANCELLED DEPOSIT WILL BE IMMEDIATLY REFUNDED. BUYER MUST APPLY FOR RESIDENCY AND MEET FINANCIAL CRITERIA. HOME IS EXPECTED FOR OCCUPANCY BY MID DECEMBER - JANUARY '26 HOME COLOR IS ALMOND/TANGRANDE WOODS SOUTH IS A LAND LEASE COMMUNITY. CURRENT RENT IS $950 PER MONTH AND INCLUDES WATER, SEWER TRASH AND RECYCLE PICKUP AND ADMISSION TO COMMUNITY POOL WHEN OPEN. RESIDENTS MUST APPLY FOR RESIDENCY AND MEET ALL GWS FINANCIAL AND OTHER REQUIREMENTS.

Key facts

• Built 2026
• Listed 13 days

Property features AI

Exterior

• Utilities: Public sewer; Well water; Natural gas water heater
• Home design: New construction; Tan exterior color; Single-family property
• Construction: Shingle exterior material; Vinyl siding
• Exterior features: Shingle and vinyl exterior; 45' frontage

Interior

• Kitchen: Range; Oven; Self-cleaning oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Vinyl flooring; Curtains included; Living room; Kitchen; Laundry closet; Slab basement
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $178k.

Deal economics

• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (31.8% below list).
• Recommended offer: $121k (31.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#144 in NJ, #3,760 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute D, schools D-, amenities F.
• Middle Township Public School District (suburban): math 15% / reading 38% proficiency, ranked #372 of 472 in NJ (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 72 active listings in the ZIP; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $121,107 (31.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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: 0.68% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.52%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $144,900
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Priest Blvd	0.11mi	2/1.5	900 (0%)	18mo	$145,000	$161	78
68 Priest Blvd	0.11mi	2/2.0	980 (+9%)	2mo	$140,000	$143	78
2 Priest Blvd	0.33mi	2/2.0	896 (-0%)	23mo	$115,000	$128	64
233 Maurice Blvd	0.28mi	2/2.0	840 (-7%)	15mo	$135,000	$161	63
229 Maurice Blvd	0.28mi	2/2.0	840 (-7%)	19mo	$160,000	$190	60
322 Grande Blvd	0.26mi	3/2.0 (+1)	980 (+9%)	19mo	$178,000	$182	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.60×
• Total profit: $79,498
• Equity at exit: $159,906

10-year hold

• IRR: 18.1%
• Equity multiple: 5.98×
• Total profit: $247,665
• Equity at exit: $344,843

Cash invested: $49,700 (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 08242

• Home prices YoY: 14.2%
• Active inventory: 72
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$931
• Tax est. 1.5%: −$222 /mo · $2,662/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-270

Break-even live

Break-even rent $1,553

Max offer price $138,443

Occupancy floor —

Sensitivity live

Price	-10% $-147	-5% $-209	+0% $-270	+5% $-331	+10% $-393
Rent	-10% $-366	-5% $-318	+0% $-270	+5% $-222	+10% $-174
Rate	-1.0pp $-181	-0.5pp $-225	base $-270	+0.5pp $-316	+1.0pp $-363

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: $44,375
• Closing costs: $5,325
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $177,500 Active 13 DOM
2. 2026-06-18
   days on market $177,500 Active 11 DOM
3. 2026-06-17
   days on market $177,500 Active 10 DOM
4. 2026-06-16
   days on market $177,500 Active 9 DOM
5. 2026-06-15
   days on market $177,500 Active 8 DOM
6. 2026-06-13
   days on market $177,500 Active 6 DOM
7. 2026-06-12
   days on market $177,500 Active 5 DOM
8. 2026-06-09
   days on market $177,500 Active 2 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-07
    remarks 392-char remark
11. 2026-06-07
    listed $177,500 Active 1 DOM

ⓘ 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: $14,533
• − Mortgage interest: −$9,943
• − Property taxes: −$2,662
• − Insurance: −$888
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$5,164
• Taxable loss: −$6,449
• Est. tax savings @ 24.0%: +$1,548
• After-tax cash flow: $-1,691/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: Middle Township Public School District
• NCES district ID: 3410020
• Math proficiency: 15% ▼ -18.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $59,228
• Composite: 24.09/100
• National rank: #7754
• State rank: #372 of 472 in NJ

Livability — Rio Grande

• Score: 76/100
• State rank: #144
• US rank: #3760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rio Grande, NJ
• City population: 4,021
• Population (ZIP): 4,021

Population outlook (Cape May County) Hauer SSP2

• Today (2025): 88,234 people
• By 2030: 84,144 · -4.6%
• By 2040: 75,146 · -14.8%
• By 2050: 67,389 · -23.6%
• By 2075: 55,732 · -36.8%
• By 2100: 44,972 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Two or more races 11% Black 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 11% Russian/Polish/Slavic 2% Arabic 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 51.53%
• Current HPI: 414.7401
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-08 Listed $177,500 CMCMLS