1475 Mount Holly Rd Unit B5

Beverly, NJ 08010

$165,000D

1 bd · 1.0 ba · 1,024 sqft · Built 1971 · Condo · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,728/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$262
• HOA: −$229
• Vac / Maint / Mgmt: −$363
• Net cashflow: $9/mo
• Annual: $103/yr
• Cap rate: 6.36%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• 1% rule: 1.05%
• Cash to close: $46,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $165k. Condition is rated fair.
• At list price, monthly cash flow is $9 ($103/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 37 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#130 in NJ, #3,487 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A; Watch: amenities F.
• Edgewater Park Township School District (suburban): math 9% / reading 32% proficiency, ranked #418 of 472 in NJ (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mildred Magowan Elementary School (math 2% / reading 32%, grade F, #1,065 of 1,303 statewide, top 83%, 525 students, 52% FRL); Samuel M Ridgway Middle School (math 11% / reading 33%, grade F, #383 of 431 statewide, top 90%, 417 students, 55% FRL) — zoned schools average 53% FRL vs 38% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 66 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 2 sale attempts since 7y ago 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 $65k; list at $165k implies a 154% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% 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.
• Cap rate 6.4% vs local median 5.1% in Beverly — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely dated and in poor condition
• Major: kitchen appliances — outdated and non-functional
• Major: bathroom fixtures — dated and in poor condition
• Moderate: exterior siding — moderate wear