1405 Farrell Ave #138 · Cherry Hill, NJ 08002

$42,000

1 bd · 1.0 ba · 672 sqft · Manufactured · 160 Days on market

Built 1967 Fair condition Est $38k · 10% over ↓ 19% since listing

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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
• Schools +4.1/10.0
• ARV discount +3.2/15.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming, country cottage style 12 ' X 56 New Yorker Model. This 2 occupant unit offers 1 Bedroom, 1 office/den, and 1 bath with washer. Located in Cherry Hill Mobile Home Park could be just what you are looking for!! This home has an open floor plan, offering a large eat-in kitchen, with an open concept living room. There is a lot rent payment of $900 /month that covers taxes, sewer, water, CCMUA and trash and recycling . Applicants must be approved by the Park management to buy in this park. The minimum monthly income required is 3 times the lot rent, a credit score of 650 and cash to purchase unit. Occupancy is for 2 people, must be owner occupied.

Key facts

• Parking
• Built 1967
• Listed 159 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $42k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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 24d 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 $290 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 $12k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Recommended offer $36,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 4.08% ✓
• Cap rate: 36.65%
• Cash-on-cash: 108.41%
• DSCR: 5.82
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $38,304
• 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	720 (+7%)	22mo	$41,000	$57	70

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: 6.16×
• Total profit: $60,714
• Equity at exit: $6,262

10-year hold

• IRR: —
• Equity multiple: 12.85×
• Total profit: $139,399
• Equity at exit: $3,631

Cash invested: $11,760 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,712 high
• Mortgage (P&I): −$220
• Tax est. 1.5%: −$52 /mo · $630/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $1,062

Break-even live

Break-even rent $367

Max offer price $42,000

Occupancy floor 33%

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: $10,500
• Closing costs: $1,260
• 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	43d	1	0.42mi
210 W Crystal Lake Ave Haddonfield, NJ	1.0–2.0	1.0	780	$1,649	$2.11	2d	14	1.25mi
401 Cooper Landing Rd Cherry Hill, NJ	1.0	1.0	506	$1,700	$3.36	24d	1	1.27mi
2395 New Jersey Cherry Hill Township, NJ	3.0	1.0–3.0	1050	$2,745	$2.61	1d	15	1.38mi
13 Wilkins Ave Unit 2ND FL Haddonfield, NJ	1.0	1.0	700	$2,500	$3.57	24d	1	1.43mi

Listing history 16 events

1. 2026-06-18
   days on market $42,000 Active 160 DOM
2. 2026-06-17
   days on market $42,000 Active 159 DOM
3. 2026-06-16
   days on market $42,000 Active 158 DOM
4. 2026-06-15
   days on market $42,000 Active 157 DOM
5. 2026-06-13
   days on market $42,000 Active 155 DOM
6. 2026-06-13
   days on market $42,000 Active 154 DOM
7. 2026-06-09
   days on market $42,000 Active 151 DOM
8. 2026-06-08
   days on market $42,000 Active 150 DOM
9. 2026-06-07
   days on market $42,000 Active 149 DOM
10. 2026-06-04
    days on market $42,000 Active 146 DOM
11. 2026-06-03
    days on market $42,000 Active 145 DOM
12. 2026-06-02
    days on market $42,000 Active 144 DOM
13. 2026-06-01
    days on market $42,000 Active 143 DOM
14. 2026-05-31
    days on market $42,000 Active 142 DOM
15. 2026-05-01
    price $42,000 659-char remark

    Show marketing remark (659 chars)

    Charming, country cottage style 12 ' X 56 New Yorker Model. This 2 occupant unit offers 1 Bedroom, 1 office/den, and 1 bath with washer. Located in Cherry Hill Mobile Home Park could be just what you are looking for!! This home has an open floor plan, offering a large eat-in kitchen, with an open concept living room. There is a lot rent payment of $900 /month that covers taxes, sewer, water, CCMUA and trash and recycling . Applicants must be approved by the Park management to buy in this park. The minimum monthly income required is 3 times the lot rent, a credit score of 650 and cash to purchase unit. Occupancy is for 2 people, must be owner occupied.

16. 2026-01-09
    listed $52,000 Active 659-char remark

    Show marketing remark (659 chars)

    Charming, country cottage style 12 ' X 56 New Yorker Model. This 2 occupant unit offers 1 Bedroom, 1 office/den, and 1 bath with washer. Located in Cherry Hill Mobile Home Park could be just what you are looking for!! This home has an open floor plan, offering a large eat-in kitchen, with an open concept living room. There is a lot rent payment of $900 /month that covers taxes, sewer, water, CCMUA and trash and recycling . Applicants must be approved by the Park management to buy in this park. The minimum monthly income required is 3 times the lot rent, a credit score of 650 and cash to purchase unit. Occupancy is for 2 people, must be owner occupied.

ⓘ 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: $20,547
• − Mortgage interest: −$2,353
• − Property taxes: −$630
• − Insurance: −$210
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$1,222
• Taxable income: $12,845
• Est. tax owed @ 24.0%: −$3,083
• After-tax cash flow: $9,666/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 · 6 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and value. Key updates include painting the exterior and replacing the carpet to enhance curb appeal and comfort.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major flooring — Worn carpet needs replacement
• Minor interior walls — Paint appears faded

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and value
• Both Update kitchen appliances — Modernizes the space and attracts buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
flooring · Worn carpet needs replacement	Major	$15,000–50,000
interior walls · Paint appears faded	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and value ↑
• Both Update kitchen appliances — Modernizes the space and attracts buyers ↑

ⓘ 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

-19.2% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $42,000 BRIGHT MLS
• 2026-01-09 Listed $52,000 BRIGHT MLS