9 Farrington Ct · Leisuretowne, NJ 08088

$169,000

1 bd · 1.0 ba · 782 sqft · Townhouse public records · 13 Days on market

Built 1971 2,176 sqft lot Est $188k · 10% under $89/mo HOA · 5% of rent

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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 +17.6/30.0
• ARV discount +12.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One of the lowest-priced homes in LeisureTowne! Why rent when you can own? Situated on a quiet cul-de-sac with minimal traffic, this home offers a convenient location close to the front entrance while remaining tucked away from the main thoroughfare. Ready for immediate occupancy, features a range, refrigerator, washer, and dryer. Enjoy the nicely landscaped setting with mature trees in both the front and rear yards, creating a pleasant outdoor environment. The backyard offers additional space to relax and enjoy the surroundings. Don't miss this opportunity—homes at this price point are hard to find in LeisureTowne!

Key facts

• Quiet cul-de-sac
• Convenient location
• Backyard space

Tags

• QUIET CUL-DE-SAC
• CONVENIENT LOCATION
• TUCKED AWAY FROM THOROUGHFARE
• NICELY LANDSCAPED SETTING
• MATURE TREES
• BACKYARD SPACE

Property features AI

Finance

• HOA & community: Monthly HOA fee of $89; HOA covers common area maintenance, trash, and pool(s); Community amenities include swimming pool and tennis courts; Ground rent paid annually

Exterior

• Parking: Driveway (1 space); 1 total garage/parking space
• Utilities: Public water; Private sewer; Electric hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Senior community (55+)
• Construction: Aluminum siding and stone exterior; Slab foundation; Above grade structure
• Exterior features: Porch(es); Sidewalks; Street lights; Front yard; Rear yard

Interior

• Kitchen: Range hood; Refrigerator
• Bedrooms: 1 bedroom on main level; Rooms include: Living Room, Master Bedroom, Kitchen (4 total rooms)
• Flooring: Fully carpeted; Vinyl; Tile/brick
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: 90% forced air heating; Electric heating fuel; Central air (electric)
• Interior features: Breakfast area; Estimated living area
• Laundry & utility: Main floor laundry; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $169k.

Deal economics

• At list price, monthly cash flow is $133 ($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 $167k (1.3% below list).
• Recommended offer: $167k (1.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.2% in Leisuretowne — 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 57/100 on livability (#516 in NJ) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• Lenape Regional High School District (suburban): math 34% / reading 60% proficiency, ranked #136 of 472 in NJ (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Seneca High School (math 34% / reading 57%, grade D-, #138 of 399 statewide, top 36%, 1,018 students, 12% FRL).
• Market conditions: 156 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,161 units permitted in Burlington County in 2024 (988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Burlington County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $65k; list at $169k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,850 (1.3% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.99% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $187,680
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Farrington Ct	0.04mi	1/1.0	782 (0%)	0mo	$188,000	$240	98
7 Kingston Way	0.21mi	1/1.0	782 (0%)	23mo	$136,500	$175	72

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-18,860
• Equity at exit: $25,198

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-5,347
• Equity at exit: $14,612

Cash invested: $47,320 (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 08088

• Active inventory: 156
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$70
• HOA: −$89
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $133

Break-even live

Break-even rent $1,500

Max offer price $169,000

Occupancy floor 87%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
62 Kingston Way Southampton, NJ	1.0	1.0	782	$1,500	$1.92	1d	1	0.10mi
9 Narberth Pl Southampton, NJ	2.0	1.0	984	$2,100	$2.13	1d	1	0.20mi

HOA detail

• Monthly dues: $89 · $1,068/yr

Listing history 10 events

1. 2026-06-18
   days on market $169,000 Active 13 DOM
2. 2026-06-17
   days on market $169,000 Active 12 DOM
3. 2026-06-16
   days on market $169,000 Active 11 DOM
4. 2026-06-15
   days on market $169,000 Active 10 DOM
5. 2026-06-13
   days on market $169,000 Active 8 DOM
6. 2026-06-13
   days on market $169,000 Active 7 DOM
7. 2026-06-09
   days on market $169,000 Active 4 DOM
8. 2026-06-08
   days on market $169,000 Active 3 DOM
9. 2026-06-07
   remarks 623-char remark
10. 2026-06-07
    listed $169,000 Active 2 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: $1,670 · $139/mo
• Projected year-2 tax: $2,939 · $245/mo
• Expected delta: +$1,269/yr (+$106/mo · 76.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,022
• − Mortgage interest: −$9,467
• − Property taxes: −$1,670
• − Insurance: −$845
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − HOA: −$1,068
• − Depreciation: −$4,916
• Taxable loss: −$1,147
• Est. tax savings @ 24.0%: +$275
• After-tax cash flow: $1,875/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: Lenape Regional High School District
• NCES district ID: 3408490
• Math proficiency: 34% ▼ -2.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $98,739
• Composite: 44.86/100
• National rank: #2724
• State rank: #136 of 472 in NJ

Livability — Leisuretowne

• Score: 57/100
• State rank: #516
• US rank: #21971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leisuretowne, NJ
• Population (ZIP): 24,153

Population outlook (Burlington County) Hauer SSP2

• Today (2025): 453,425 people
• By 2030: 452,359 · -0.2%
• By 2040: 445,033 · -1.9%
• By 2050: 431,760 · -4.8%
• By 2075: 406,277 · -10.4%
• By 2100: 364,732 · -19.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Asian 2% Black 1%
• Common ancestry: Romanian 8% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Burlington

• 2024 margin: D (+16.6) · D 57.6% · R 41.0% · Other 1.3%
• 2008→2024 swing: -2.0pp toward R · 2008: 18.6pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+19.5 2016: D+14.8 2012: D+18.7 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.45%
• Current HPI: 302.9094
• Rent YoY: —
• Metro: —
• 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

+356.8% since first listed

5 events — show timeline

• 2026-06-05 Listed $169,000 BRIGHT MLS
• 2004-05-18 Sold (Public Records) $65,000 Public Records
• 2002-03-30 Listing Removed — BRIGHT MLS
• 2002-03-30 Listed $46,500 BRIGHT MLS
• 1998-02-06 Sold (Public Records) $37,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,670 · +1.6% YoY. Source: county tax records.