13 E Griffith St · Penns Grove, NJ 08069

$249,995

3 bd · 1.0 ba · 2,016 sqft · SingleFamily public records · 12 Days on market

Built 1940 7,052 sqft lot Est $262k · at est.

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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 +16.9/30.0
• ARV discount +9.6/15.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful remodeled 3 bedroom 1 bath rancher on a quiet street in the heart of Penns grove. Walking into your new home you're greeted by your front porch, That's fully climate controlled with central heat and central air with lots of Windows to bring in natural light. Then enter from the porch into your beautiful living room first thing you notice is the unique design of the recently refinished hardwood floors that flow all throughout the home. The home offers three large bedrooms with great closet storage. A traditional formal dining room with additional Arch panels and storage cabinets original to the home. You have a completely upgraded kitchen with new tile floors, quartz countertops be

Key facts

• Custom cabinetry
• Quartz countertops
• Remodeled rancher

Tags

• REMODELED RANCHER
• CLIMATE CONTROLLED PORCH
• REFINISHED HARDWOOD FLOORS
• UPGRADED KITCHEN
• QUARTZ COUNTERTOPS
• CUSTOM CABINETRY

Property features AI

Exterior

• Parking: Driveway parking (3 spaces total)
• Utilities: Public water; Public sewer
• Home design: Detached property; Single-family style (detached structure); Ownership: Fee simple
• Construction: Concrete perimeter foundation
• Exterior features: Lot dimensions approximately 60 x 117.5

Interior

• Kitchen: Dishwasher; Stainless steel appliances; Stove
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Attic; Unfinished basement with sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (2.1% below list).
• Recommended offer: $245k (2.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#519 in NJ) — a working-class tenant base; expect higher turnover. Strengths: cost of living A, housing A-; Watch: crime F, amenities F, commute F.
• Penns Grove-Carneys Point Regional School District (suburban): math 6% / reading 21% proficiency, ranked #462 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Field Street School (math 8% / reading 12%, grade F, #1,235 of 1,303 statewide, top 96%, 501 students, 72% FRL); Penns Grove Middle School (math 6% / reading 24%, grade F, #415 of 431 statewide, top 97%, 492 students, 73% FRL); Penns Grove High School (math 4% / reading 32%, grade F, #367 of 399 statewide, top 92%, 576 students, 60% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 95 units permitted in Salem County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Salem County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $244,786 (2.1% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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?
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: 0.98% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.85%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $262,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Delaware Ave	0.51mi	3/2.0	1,927 (-4%)	2mo	$250,000	$130	63
136 Denny Ave	0.39mi	4/2.0 (+1)	1,968 (-2%)	8mo	$105,000	$53	62
119 Field	0.37mi	3/2.5	1,906 (-6%)	12mo	$330,000	$173	58
35 Franklin St	0.29mi	3/2.5	1,792 (-11%)	6mo	$335,000	$187	57
163 State St	0.61mi	4/2.0 (+1)	2,016 (0%)	9mo	$290,000	$144	55
14 Franklin St	0.32mi	4/2.5 (+1)	2,152 (+7%)	11mo	$280,000	$130	54
76 State St	0.39mi	4/2.5 (+1)	1,918 (-5%)	12mo	$199,000	$104	53
105 State St	0.45mi	3/2.5	2,148 (+6%)	12mo	$230,500	$107	52
26 Church St	0.55mi	3/2.0	1,836 (-9%)	12mo	$225,000	$123	45
31 N Miller Ave	0.66mi	4/2.5 (+1)	2,139 (+6%)	7mo	$386,500	$181	42
1 Risner Ave	0.55mi	4/3.0 (+1)	1,880 (-7%)	10mo	$350,000	$186	42
86 State St	0.42mi	4/2.5 (+1)	1,781 (-12%)	12mo	$190,000	$107	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-29,843
• Equity at exit: $37,275

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-12,081
• Equity at exit: $21,615

Cash invested: $69,999 (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 08069

• Home prices YoY: -18.8%
• Active inventory: 105
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,448 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$352 /mo · $4,225/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $167

Break-even live

Break-even rent $2,237

Max offer price $249,995

Occupancy floor 88%

Sensitivity live

Price	-10% $308	-5% $237	+0% $167	+5% $96	+10% $25
Rent	-10% $-27	-5% $70	+0% $167	+5% $263	+10% $360
Rate	-1.0pp $292	-0.5pp $230	base $167	+0.5pp $102	+1.0pp $36

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: $62,499
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Delaware Ave Penns Grove, NJ	4.0	3.0	2000	$2,900	$1.45	45d	1	0.53mi

Listing history 8 events

1. 2026-06-17
   status $249,995 Pending 12 DOM
2. 2026-06-16
   days on market $249,995 Active 12 DOM
3. 2026-06-15
   days on market $249,995 Active 11 DOM
4. 2026-06-13
   days on market $249,995 Active 9 DOM
5. 2026-06-09
   days on market $249,995 Active 5 DOM
6. 2026-06-08
   days on market $249,995 Active 4 DOM
7. 2026-06-07
   remarks 699-char remark
8. 2026-06-07
   listed $249,995 Active 3 DOM

ⓘ 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: $4,225 · $352/mo
• Projected year-2 tax: $5,225 · $435/mo
• Expected delta: +$1,000/yr (+$83/mo · 23.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $29,374
• − Mortgage interest: −$14,004
• − Property taxes: −$4,225
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − Depreciation: −$7,273
• Taxable loss: −$2,077
• Est. tax savings @ 24.0%: +$499
• After-tax cash flow: $2,497/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: Penns Grove-Carneys Point Regional School District
• NCES district ID: 3412840
• Math proficiency: 6% ▼ -16.00%
• Reading proficiency: 21% ▼ -7.00%
• Median HH income: $44,930
• Composite: 11.98/100
• National rank: #9665
• State rank: #462 of 472 in NJ

Livability — Penns Grove

• Score: 57/100
• State rank: #519
• US rank: #22190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Penns Grove, NJ
• County: Salem County · 24,175 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 13,413
• Household income: $71,942
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 696.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 59,905 people
• By 2030: 57,351 · -4.3%
• By 2040: 51,837 · -13.5%
• By 2050: 46,356 · -22.6%
• By 2075: 36,452 · -39.2%
• By 2100: 28,907 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 50% Hispanic / Latino 22% Black 22% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 14%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.2) · D 39.6% · R 58.8% · Other 1.6%
• 2008→2024 swing: -23.1pp toward R · 2008: 3.9pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+12.8 2016: R+15.4 2012: D+0.8 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.07%
• Current HPI: 290.3853
• 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

1 event — show timeline

• 2026-06-04 Listed $249,995 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2025): $4,225 · +1.9% YoY. Source: county tax records.