2841 Forsythia #71 · Hamilton, NJ 08330

$120,000

2 bd · 1.5 ba · 1,268 sqft · Condo public records · 45 Days on market

Built 1986 $261/mo HOA · 11% of rent

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Welcome to a home full of potential and opportunity. This 2 bedroom, 1.5 bath property offers a flexible layout with multiple living spaces on the first floor, giving you options to create a setup that fits your needs. The newer kitchen provides a strong starting point with updated features where it counts, while still leaving room to personalize the rest of the home over time. Whether you are looking to move right in and make gradual updates or take on a larger vision, the possibilities here are clear. Upstairs, you will find two well proportioned bedrooms along with a full bathroom, while the additional half bath on the main level adds everyday convenience. This home presents a valuable o

Key facts

• $261 HOA
• 2 parking spots
• Built 1986

Property features AI

Finance

• HOA & community: Monthly association fee of $261

Exterior

• Parking: Two exterior parking spaces; No garage
• Utilities: Public water; Public sewer
• Home design: Condo in the Woodlands; Two-story building; Unit occupies a single level
• Construction: Building is over 25 years old
• Exterior features: Pets allowed with restrictions; Not waterfront; Zoned GA-I

Interior

• Bedrooms: Unit has 1 level (single-level unit)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Central air conditioning; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% 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.
• Hamilton Township School District (suburban): math 9% / reading 37% proficiency, ranked #401 of 472 in NJ (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 240 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• This rent runs 36% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $120k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.91% ✓
• Cap rate: 12.76%
• Cash-on-cash: 23.10%
• DSCR: 2.03
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.7%
• Equity multiple: 4.18×
• Total profit: $106,790
• Equity at exit: $108,106

10-year hold

• IRR: 36.0%
• Equity multiple: 9.41×
• Total profit: $282,554
• Equity at exit: $233,134

Cash invested: $33,600 (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 08330

• Home prices YoY: 3.9%
• Active inventory: 240
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,287 high
• Mortgage (P&I): −$629
• Tax from tax record: −$220 /mo · $2,640/yr
• Insurance: −$50
• HOA: −$261
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $647

Break-even live

Break-even rent $1,469

Max offer price $120,000

Occupancy floor 67%

Sensitivity live

Price	-10% $715	-5% $681	+0% $647	+5% $613	+10% $579
Rent	-10% $466	-5% $556	+0% $647	+5% $737	+10% $828
Rate	-1.0pp $707	-0.5pp $677	base $647	+0.5pp $616	+1.0pp $584

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2703 Mimosa Ct Mays Landing, NJ	2.0	1.5	1268	$2,200	$1.74	14d	1	0.06mi
2807 Hawthorn Ct Mays Landing, NJ	1.0	1.0	929	$1,800	$1.94	14d	1	0.08mi
2609 Dogwood Ct #52 Mays Landing, NJ	3.0	1.5	1628	$2,200	$1.35	14d	1	0.10mi
2604 Dogwood Ct #43 Mays Landing, NJ	3.0	1.5	1628	$2,580	$1.58	14d	1	0.14mi
2529 Cottonwood Ct Mays Landing, NJ	2.0	1.5	1376	$2,200	$1.60	44d	1	0.14mi
2529 Cottonwood Ct Mays Landing, NJ	2.0	1.5	1376	$2,200	$1.60	14d	1	0.14mi
2604 Dogwood Ct Mays Landing, NJ	3.0	1.5	1628	$2,580	$1.58	14d	1	0.14mi
3401 Montgomery Dr Mays Landing, NJ	1.0–2.0	1.0–2.0	1192	$2,810	$2.36	14d	18	0.20mi
1932 Cologne Ave Mays Landing, NJ	1.0–2.0	1.0–2.0	775	$1,825	$2.35	14d	1	0.72mi
2605 Flagstaff Ct #2605 Mays Landing, NJ	2.0	2.0	1250	$2,500	$2.00	21d	1	0.88mi
2000 Timber Glen Dr Mays Landing, NJ	2.0–3.0	2.5	1577	$2,441	$1.55	14d	2	0.94mi

HOA detail condo

• Monthly dues: $261 · $3,132/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-02
   days on market $120,000 Under Contract 45 DOM
2. 2026-06-01
   days on market $120,000 Under Contract 44 DOM
3. 2026-05-31
   days on market $120,000 Under Contract 43 DOM
4. 2026-05-30
   days on market $120,000 Under Contract 42 DOM
5. 2026-04-30
   historical Under Contract
6. 2026-04-18
   listed $120,000 Active
7. 1988-07-06
   soldstatus $60,000

ⓘ 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: $2,640 · $220/mo
• Projected year-2 tax: $2,814 · $234/mo
• Expected delta: +$174/yr (+$14/mo · 6.6%)

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

Taxation est. · year 1

• Rental income: $27,450
• − Mortgage interest: −$6,722
• − Property taxes: −$2,640
• − Insurance: −$600
• − Repairs & maintenance: −$2,196
• − Management: −$2,196
• − HOA: −$3,132
• − Depreciation: −$3,491
• Taxable income: $6,473
• Est. tax owed @ 24.0%: −$1,554
• After-tax cash flow: $6,208/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: Hamilton Township School District
• NCES district ID: 3406510
• Math proficiency: 9% ▼ -20.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $60,997
• Composite: 21.34/100
• National rank: #8372
• State rank: #401 of 472 in NJ

Livability — Hamilton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: McKee City, NJ
• County: Atlantic County · 143,611 people
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 29,972
• Household income: $77,167
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1003.0

Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 16% Black 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 1%
• Foreign-born: 9% · Canada, Vietnam, Guatemala
• Languages at home: 84% English-only · Spanish 10% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.58%
• Current HPI: 308.5148
• Rent YoY: —
• Metro: Atlantic City-Hammonton, 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

+100.0% since first listed

3 events — show timeline

• 2026-04-30 Contingent — SJSRMLS
• 2026-04-18 Listed $120,000 SJSRMLS
• 1988-07-06 Sold (Public Records) $60,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,640 · +40.4% YoY. Source: county tax records.