511 Wrightstown Sykesville Rd #89

Wrightstown, NJ 08562

$209,999B+

3 bd · 2.0 ba · 1,748 sqft · Built 2009 · SingleFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,122/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$350
• HOA: −$0
• Vac / Maint / Mgmt: −$656
• Net cashflow: $1,015/mo
• Annual: $12,177/yr
• Cap rate: 12.09%
• Cash-on-cash: 20.71%
• DSCR: 1.92
• 1% rule: 1.49%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $210k. Condition is rated good.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• It's been on market 94 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $191k (9.0% below list) — sets the bar for market timing.
• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (7.3% local appreciation)).
• Location reads 58/100 on livability (#503 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools D+, employment D+.
• Northern Burlington County Regional School District (rural): math 27% / reading 57% proficiency, ranked #198 of 472 in NJ (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• At projected returns (7.3% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.