514 Hartford Rd

Marlton, NJ 08054

$244,900D-

2 bd · 1.5 ba · 828 sqft · Built 1945 · SingleFamily · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,072/mo
• Mortgage (P&I): −$1,284
• Tax + insurance: −$403
• HOA: −$0
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-51/mo
• Annual: $-610/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $68,572

Investor read

• This is a 2-bed/1.5-bath single-family listed at $245k.
• At list price, monthly cash flow is $-51 ($-610/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (15.4% below list).
• It's been on market 105 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $207k (15.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#165 in NJ, #4,364 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B; Watch: amenities C-, commute F, cost of living F.
• Mount Laurel Township School District (suburban): math 37% / reading 54% proficiency, ranked #161 of 472 in NJ (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Springville Elementary School (math 52% / reading 57%, grade C, #176 of 1,303 statewide, top 15%, 464 students, 5% FRL); T. E. Harrington Middle School (math 38% / reading 57%, grade C-, #123 of 431 statewide, top 30%, 930 students, 14% FRL); Lenape High School (math 29% / reading 59%, grade F, #161 of 399 statewide, top 40%, 1,892 students, 15% FRL) — zoned schools at 11% FRL track the district average.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.5%/yr); 257 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $188k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.0% vs local median 3.2% in Marlton — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.