73 W Chestnut Ave · Vineland, NJ 08360

$289,900

4 bd · 0.0 ba · 1,621 sqft · MultiFamily · 47 Days on market

Built 1880 Good condition 0.39 ac lot ↓ 3% since listing

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

🔥 Don’t Miss This Incredible 2-Unit Opportunity! 🔥Located just off Route 55, this versatile multi-unit property offers convenience, value, and amazingly low taxes—a rare find! 🏡 Unit 1 Features: 3 spacious bedrooms 1 full bathroom Dedicated laundry room Large kitchen with ample counter space Brand new range & refrigerator 🏡 Unit 2 Includes: 1 bedroom Bonus room (perfect for office or guest space) 1 full bathroom ✨ Additional Highlights: Two storage sheds (one for each unit) 1-car garage Ideal for extended family living or rental income Whether you're an investor or looking for a multi-generational home, this property checks all the boxes! 📅 Open House: 5-9 from 12-3pm FYI

Key facts

• 0.39 acre lot
• Built 1880
• Listed 47 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive. Per door: $385/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).
• Recommended offer: $281k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.5% in Vineland — 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 66/100 on livability (#363 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Vineland Public School District (urban): math 9% / reading 34% 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: Dane Barse Elementary School (math 8% / reading 37%, grade F, #944 of 1,303 statewide, top 73%, 219 students, 0% FRL); Thomas W. Wallace Jr. Middle School (math 5% / reading 29%, grade F, #409 of 431 statewide, top 95%, 778 students, 0% FRL); Vineland Senior High School (math 10% / reading 34%, grade F, #346 of 399 statewide, top 88%, 2,780 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 176 active listings in the ZIP; 216 units permitted in Cumberland County in 2024 (73 in 5+ unit buildings).
• At $3,510/mo this rent would consume 64% of the median local household income ($65k/yr) (locally 1328% 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 (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Cumberland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% 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 $281,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $2,084
• Equity at exit: $43,225

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $65,136
• Equity at exit: $25,065

Cash invested: $81,172 (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 08360

• Active inventory: 176
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,510 medium
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$737
• Net cashflow: $769

Break-even live

Break-even rent $2,536

Max offer price $289,900

Occupancy floor 73%

Sensitivity live

Price	-10% $970	-5% $870	+0% $769	+5% $669	+10% $569
Rent	-10% $492	-5% $631	+0% $769	+5% $908	+10% $1,047
Rate	-1.0pp $915	-0.5pp $843	base $769	+0.5pp $694	+1.0pp $618

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,510
Total (2 units)			$3,510

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-02
   status $289,900 Pending 47 DOM
2. 2026-05-23
   historical Active Under Contract
3. 2026-05-08
   price $289,900
4. 2026-04-06
   listed $299,900 Active
5. 2026-03-30
   historical $299,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,120
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,370
• − Management: −$3,370
• − Depreciation: −$8,433
• Taxable income: $4,910
• Est. tax owed @ 24.0%: −$1,179
• After-tax cash flow: $8,055/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

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with recent updates, making it a solid investment opportunity. The exterior could benefit from a fresh coat of paint to enhance its curb appeal.

Value-add opportunities

• Resale Painting the exterior — Enhances curb appeal and can increase the home's value
• Rental Landscaping and trimming the bushes — Improves the property's aesthetic and can attract renters
• Both Inspecting and cleaning the gutters — Prevents water damage and ensures proper drainage, which is beneficial for both resale and rental

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Enhances curb appeal and can increase the home's value ↑
• Rental Landscaping and trimming the bushes — Improves the property's aesthetic and can attract renters ↑
• Both Inspecting and cleaning the gutters — Prevents water damage and ensures proper drainage, which is beneficial for both resale and rental ↑

ⓘ 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: Vineland Public School District
• NCES district ID: 3416800
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $51,168
• Composite: 19.17/100
• National rank: #8819
• State rank: #418 of 472 in NJ

Livability — Vineland

• Score: 66/100
• State rank: #363
• US rank: #12180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vineland, NJ
• County: Cumberland County · 80,266 people
• City population: 45,038
• Metro: Vineland-Bridgeton, NJ
• Population (ZIP): 45,038
• Household income: $65,359
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1328.0

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 152,743 people
• By 2030: 150,373 · -1.6%
• By 2040: 146,881 · -3.8%
• By 2050: 142,653 · -6.6%
• By 2075: 129,468 · -15.2%
• By 2100: 107,456 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 51% White 32% Two or more races 17% Black 11% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 33% Dominican 2%
• Common ancestry: Romanian 2% Subsaharan African 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 59% English-only · Spanish 37% Russian/Polish/Slavic 2% Other Indo-European 1%

Political lean MEDSL · Cumberland

• 2024 margin: Toss-up / Even · D 47.6% · R 51.3% · Other 1.1%
• 2008→2024 swing: -25.4pp toward R · 2008: 21.6pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: D+6.0 2016: D+5.3 2012: D+23.1 2008: D+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -320.06%
• Current HPI: 278.786
• Rent YoY: —
• Metro: Vineland-Bridgeton, NJ
• 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

-3.3% since first listed

4 events — show timeline

• 2026-05-23 Contingent — BRIGHT MLS
• 2026-05-08 Price Changed $289,900 BRIGHT MLS
• 2026-04-06 Listed $299,900 BRIGHT MLS
• 2026-03-30 Coming Soon $299,900 BRIGHT MLS