1405 Farrell Ave #105 · Cherry Hill, NJ 08002

$45,000

2 bd · 1.0 ba · 732 sqft · Manufactured · 9 Days on market

Built 1970 Fair condition Est $42k · 8% 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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• ARV discount +4.0/15.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the charming Cherry Hill Mobile Home Park, this exquisite mobile home offers a unique blend of comfort and luxury, perfect for those seeking a serene lifestyle. Built in 1970, this well-maintained single-wide home by Schult spans 61 feet in length and 12 feet in width, showcasing a thoughtful design that maximizes space and functionality. Step inside to discover a warm and inviting interior, where upgraded countertops elevate the kitchen, creating an ideal space for culinary creativity. The kitchen includes a built-in microwave, gas oven/range, dishwasher, and refrigerator, all in as is condition. The open layout seamlessly connects the kitchen to the living area, making it perfe

Key facts

• Upgraded countertops
• Breezeway
• Gas oven range

Tags

• UPGRADED COUNTERTOPS
• BUILT-IN MICROWAVE
• GAS OVEN RANGE
• OUTDOOR SPACE
• WATER FOUNTAIN
• BREEZEWAY

Property features AI

Finance

• Other: Not in a federal flood zone; Property condition listed as good
• Financial info: Lease not considered; Income/expense notes list annual ground rent
• HOA & community: Ground rent of $900 per month (annual billing noted); Ground rent exists; 99 years remaining on land lease; Property manager present

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; 100 amp electric service; Above-ground utilities; Oil hot water
• Home design: Single wide mobile home (Schult); Mobile home built before 1976; Land lease community
• Construction: Vinyl siding; Metal roof; Above-grade structure
• Exterior features: Breezeway; Awnings; Water fountains

Interior

• Kitchen: Built-in microwave; Dishwasher; Gas oven/range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Hot water baseboard heating (oil-fired); Window cooling units
• Interior features: Upgraded countertops; Estimated living area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cherry Hill School District (suburban): math 27% / reading 59% proficiency, ranked #181 of 472 in NJ (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.9%/yr); 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 (-3.0% appreciation + 2.9% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $45,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 4.34% ✓
• Cap rate: 39.14%
• Cash-on-cash: 117.31%
• DSCR: 6.22
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $41,724
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1405 Farrell Ave #106	0.00mi	1/1.0 (-1)	720 (-2%)	22mo	$41,000	$57	74

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.63×
• Total profit: $70,992
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 13.87×
• Total profit: $162,151
• Equity at exit: $3,891

Cash invested: $12,600 (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 08002

• Rents YoY: 2.9%
• Active inventory: 99
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,953 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $1,232

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,263	-5% $1,247	+0% $1,232	+5% $1,216	+10% $1,201
Rent	-10% $1,077	-5% $1,155	+0% $1,232	+5% $1,309	+10% $1,386
Rate	-1.0pp $1,254	-0.5pp $1,243	base $1,232	+0.5pp $1,220	+1.0pp $1,208

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 Meadowlands BLVD Cherry Hill Township, NJ	1.0	1.0	729	$1,184	$1.62	44d	1	0.42mi
210 W Crystal Lake Ave Haddonfield, NJ	1.0–2.0	1.0	780	$2,395	$3.07	3d	14	1.25mi
401 Cooper Landing Rd Cherry Hill, NJ	1.0	1.0	506	$1,700	$3.36	25d	1	1.27mi
2395 New Jersey Cherry Hill Township, NJ	3.0	1.0–3.0	1050	$3,389	$3.23	2d	15	1.38mi
13 Wilkins Ave Unit 2ND FL Haddonfield, NJ	1.0	1.0	700	$2,500	$3.57	25d	1	1.43mi

Listing history 8 events

1. 2026-06-18
   days on market $45,000 Active 9 DOM
2. 2026-06-17
   days on market $45,000 Active 8 DOM
3. 2026-06-16
   days on market $45,000 Active 7 DOM
4. 2026-06-15
   days on market $45,000 Active 6 DOM
5. 2026-06-13
   days on market $45,000 Active 4 DOM
6. 2026-06-13
   days on market $45,000 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $45,000 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: $23,434
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$1,309
• Taxable income: $14,955
• Est. tax owed @ 24.0%: −$3,589
• After-tax cash flow: $11,192/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

This mobile home in Cherry Hill Mobile Home Park is in fair condition with some cosmetic updates needed. It offers a unique blend of comfort and luxury, but improvements in paint, flooring, landscaping, and appliances can significantly enhance its resale and rental value.

Repairs flagged

• Minor Paint — Paint appears faded in some areas.
• Minor Flooring — Carpet in living areas appears worn.
• Minor Landscaping — Minimal landscaping with some overgrown areas.
• Minor Appliances — Appliances are in as-is condition and may need cleaning or minor repairs.

Value-add opportunities

• Resale Painting and repainting — Fresh paint can significantly improve the home's curb appeal and overall appearance.
• Resale New flooring — New carpet or hardwood flooring can enhance the living areas and increase the home's value.
• Both Landscaping and garden design — A well-maintained garden can improve curb appeal and add value to the property.
• Resale Appliance cleaning and minor repairs — Clean and functional appliances can attract potential buyers and increase the home's appeal.
• Both HVAC maintenance and minor repairs — A well-maintained HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears faded in some areas.	Minor	$500–3,000
Flooring · Carpet in living areas appears worn.	Minor	$500–3,000
Landscaping · Minimal landscaping with some overgrown areas.	Minor	$500–3,000
Appliances · Appliances are in as-is condition and may need cleaning or minor repairs.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Resale Painting and repainting — Fresh paint can significantly improve the home's curb appeal and overall appearance. ↑
• Resale New flooring — New carpet or hardwood flooring can enhance the living areas and increase the home's value. ↑
• Both Landscaping and garden design — A well-maintained garden can improve curb appeal and add value to the property. ↑
• Resale Appliance cleaning and minor repairs — Clean and functional appliances can attract potential buyers and increase the home's appeal. ↑
• Both HVAC maintenance and minor repairs — A well-maintained HVAC system can improve comfort and energy efficiency, benefiting both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cherry Hill School District
• NCES district ID: 3403000
• Math proficiency: 27% ▼ -26.00%
• Reading proficiency: 59% ▼ -10.00%
• Median HH income: $90,394
• Composite: 40.71/100
• National rank: #3665
• State rank: #181 of 472 in NJ

Livability — Cherry Hill

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Golden Triangle, NJ
• County: Camden County · 407,624 people
• City population: 76,725
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 24,015
• Household income: $100,951
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 430.0

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 0.56)
• Race & ethnicity: White 64% Hispanic / Latino 12% Asian 12% Black 8% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 8% Scotch-Irish 2% Italian 2%
• Foreign-born: 18% · Vietnam, Canada, China
• Languages at home: 73% English-only · Spanish 8% Russian/Polish/Slavic 4% Vietnamese 4%

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: ▼ -201.30%
• Current HPI: 358.1597
• Rent YoY: ▲ 2.90%
• 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

1 event — show timeline

• 2026-06-09 Listed $45,000 BRIGHT MLS