821-823 Cherry · Camden, NJ 08103

$125,000

5 bd · 2.0 ba · 728 sqft · Townhouse public records · 16 Days on market

Built 1900 1,324 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

Calling all visionaries! This Camden property is ready for its next transformation and offers an incredible opportunity for investors, builders, or buyers looking to create something truly their own. This home is in need of a complete rehab, making it a blank canvas with endless potential. Whether you’re looking to renovate and resell, build your rental portfolio, or design your dream home from the ground up—this is your chance to bring your vision to life. This property was once two homes but now has been combined for one large home - buyer to do their due diligence as the agent and seller do not know exact square footage and size of the home. Located in Camden, a city seeing o

Key facts

• Blank canvas
• Complete rehab
• Convenient location

Tags

• COMPLETE REHAB
• BLANK CANVAS
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Improvement assessed at $16,400; Land assessed at $8,600; Total tax assessed value $25,000 (tax year 2025), annual tax $921

Exterior

• Parking: On-street parking (public)
• Utilities: Public water; Public sewer; Natural gas for hot water; Natural gas for cooling fuel
• Home design: End of row townhouse; Fee simple ownership
• Construction: Brick construction; Block foundation; Above grade and below grade structures; Assessor-reported year built
• Exterior features: Not in a federal flood zone; Lot dimensions approximately 25.00 x 0.00

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 5 bedrooms on the first upper level; Rooms listed: Living Room, Dining Room, Master Bedroom, Bedroom 2, Bedroom 3, Kitchen, Bedroom 1
• Bathrooms: 2 full bathrooms (both on the first upper level / total full bathrooms: 2)
• Interior features: Eat-in kitchen; 10 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 7.0% in Camden — 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 70/100 on livability (#262 in NJ) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A; Watch: schools F, crime F, employment F.
• Camden City School District (urban): math 3% / reading 16% proficiency, ranked #472 of 472 in NJ (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 64 active listings in the ZIP; lower-income renter base — watch delinquency; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• At $2,122/mo this rent would consume 69% of the median local household income ($37k/yr) (locally 1141% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-2.4%/yr); year-one equity from $864 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $14k; list at $125k implies a 793% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 F-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.70% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.57%
• DSCR: 2.36
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 2.14×
• Total profit: $39,913
• Equity at exit: $22,244

10-year hold

• IRR: 33.3%
• Equity multiple: 4.17×
• Total profit: $110,788
• Equity at exit: $17,106

Cash invested: $35,000 (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 08103

• Home prices YoY: -1.4%
• Active inventory: 64
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,122 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $892

Break-even live

Break-even rent $993

Max offer price $125,000

Occupancy floor 53%

Sensitivity live

Price	-10% $962	-5% $927	+0% $892	+5% $856	+10% $821
Rent	-10% $724	-5% $808	+0% $892	+5% $976	+10% $1,059
Rate	-1.0pp $955	-0.5pp $924	base $892	+0.5pp $859	+1.0pp $826

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-04
   listed $125,000 Active 1091-char remark
2. 2019-02-18
   historical
3. 2019-02-17
   status Pending
4. 2019-02-17
   historical
5. 2017-03-21
   historical
6. 2017-01-21
   listed $19,900
7. 1983-08-01
   soldstatus $14,000

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $2,017 · $168/mo
• Expected delta: +$1,095/yr (+$91/mo · 118.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,460
• − Mortgage interest: −$7,002
• − Property taxes: −$922
• − Insurance: −$625
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − Depreciation: −$3,636
• Taxable income: $9,202
• Est. tax owed @ 24.0%: −$2,208
• After-tax cash flow: $8,492/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: Camden City School District
• NCES district ID: 3402640
• Math proficiency: 3% ▼ -6.00%
• Reading proficiency: 16% ▬ 0.00%
• Median HH income: $25,845
• Composite: 6.85/100
• National rank: #9981
• State rank: #472 of 472 in NJ

Livability — Camden

• Score: 70/100
• State rank: #262
• US rank: #7721

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Camden, NJ
• County: Camden County · 407,624 people
• City population: 20,865
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 12,573
• Household income: $36,793
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 1141.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 54% Hispanic / Latino 36% Two or more races 9% White 5% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 19% Dominican 4%
• Common ancestry: Hispanic 1%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 75% English-only · Spanish 22% Tagalog/Filipino 2%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.36%
• Current HPI: 162.557
• Rent YoY: —
• 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

+792.9% since first listed

9 events — show timeline

• 2026-05-28 Pending — BRIGHT MLS
• 2026-05-20 Contingent — BRIGHT MLS
• 2026-05-04 Listed $125,000 BRIGHT MLS
• 2019-02-18 Listing Removed — BRIGHT MLS
• 2019-02-17 Pending — BRIGHT MLS
• 2019-02-17 Listing Removed — BRIGHT MLS
• 2017-03-21 Listing Removed — BRIGHT MLS
• 2017-01-21 Listed $19,900 BRIGHT MLS
• 1983-08-01 Sold (Public Records) $14,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $922 · +4.1% YoY. Source: county tax records.