228 Coville Dr · Browns Mills, NJ 08015

$290,000

4 bd · 1.0 ba · 1,310 sqft · SingleFamily public records · 13 Days on market

Built 1976 8,956 sqft lot $221/sqft · 11% below area Est $325k · 11% under

---

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 +18.6/30.0
• ARV discount +12.3/15.0
• DSCR +5.8/10.0
• 1% rule +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this renovated 4-bedroom, 1-bath home in Browns Mills. With 1,310 sq ft, this rancher property sits in a quiet, established neighborhood. Inside, you’ll find a brand-new kitchen with cabinets, granite countertops, and stainless steel appliances. The home has been freshly painted with new flooring, updated lighting, and modern electrical fixtures throughout. A new heater and hot water heater have also been installed. The bathroom has been fully updated as well. Additional features include updated smoke and carbon monoxide systems, plus a leased solar system to be assumed by the buyer. The backyard is fully equipped for summer and storage, featuring a functional shed and an above-ground pool that has been recently serviced and opened. NOTE: A home inspection and termite inspection have already been completed and are available upon request.

Key facts

• New flooring
• Freshly painted
• Brand-new kitchen

Tags

• BRAND-NEW KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FRESHLY PAINTED
• NEW FLOORING
• UPDATED LIGHTING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Cap rate 7.5% vs local median 5.2% in Browns Mills — 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 63/100 on livability (#436 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, cost of living B; Watch: schools F, amenities F, commute F.
• Pemberton Township School District (rural): math 12% / reading 38% proficiency, ranked #382 of 472 in NJ (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 117 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $9k 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.
• 6 sale attempts since 20y 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 $192k; list at $290k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,000

Questions for the listing agent

1. Built in 1976 — 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. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 8.2

CMA / ARV

• ARV (median comp): $324,612
• List price: $290,000
• Delta: -10.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Coville Dr	0.00mi	4/1.0	1,310 (0%)	1mo	$335,000	$256	100
607 Marie Dr	0.08mi	3/2.0 (-1)	1,300 (-1%)	1mo	$370,000	$285	86
25 Railroad St	0.11mi	3/1.0 (-1)	1,332 (+2%)	6mo	$343,500	$258	82
215 Coville Dr	0.11mi	3/1.0 (-1)	1,348 (+3%)	7mo	$275,000	$204	79
217 Coville Dr	0.10mi	3/1.0 (-1)	1,356 (+4%)	7mo	$318,000	$235	78
71 Monroe Ave	0.26mi	3/1.0 (-1)	1,288 (-2%)	2mo	$315,000	$245	78
203 Coville Dr	0.19mi	3/1.0 (-1)	1,348 (+3%)	10mo	$364,000	$270	73
601 Concord Dr	0.25mi	3/2.0 (-1)	1,332 (+2%)	5mo	$375,000	$282	72
207 Coville Dr	0.17mi	3/1.0 (-1)	1,428 (+9%)	11mo	$300,000	$210	63
146 Arch St	0.33mi	3/1.0 (-1)	1,196 (-9%)	4mo	$312,000	$261	62
30 Press Ave	0.65mi	3/2.0 (-1)	1,340 (+2%)	3mo	$360,000	$269	54
129 Haines St	0.31mi	4/1.5	1,113 (-15%)	10mo	$310,000	$279	50

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-29,030
• Equity at exit: $43,240

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,961
• Equity at exit: $25,074

Cash invested: $81,200 (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 08015

• Home prices YoY: -23.1%
• Active inventory: 117
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,941 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$401 /mo · $4,808/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $281

Break-even live

Break-even rent $2,585

Max offer price $290,000

Occupancy floor 85%

Sensitivity live

Price	-10% $445	-5% $363	+0% $281	+5% $199	+10% $117
Rent	-10% $49	-5% $165	+0% $281	+5% $397	+10% $513
Rate	-1.0pp $427	-0.5pp $355	base $281	+0.5pp $206	+1.0pp $129

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Juliustown Rd Browns Mills, NJ	3.0	2.0	1607	$2,895	$1.80	44d	1	0.66mi
27 Carlisle St Browns Mills, NJ	3.0	1.0	984	$2,900	$2.95	44d	1	0.99mi
30 Chandler St Browns Mills, NJ	5.0	3.0	1136	$3,500	$3.08	2d	1	1.35mi
126 Juniper Ave Browns Mills, NJ	4.0	1.0	1092	$2,500	$2.29	19d	1	1.35mi

Listing history 20 events

1. 2026-05-05
   status Pending 868-char remark

   Show marketing remark (868 chars)

   Welcome to this renovated 4-bedroom, 1-bath home in Browns Mills. With 1,310 sq ft, this rancher property sits in a quiet, established neighborhood. Inside, you’ll find a brand-new kitchen with cabinets, granite countertops, and stainless steel appliances. The home has been freshly painted with new flooring, updated lighting, and modern electrical fixtures throughout. A new heater and hot water heater have also been installed. The bathroom has been fully updated as well. Additional features include updated smoke and carbon monoxide systems, plus a leased solar system to be assumed by the buyer. The backyard is fully equipped for summer and storage, featuring a functional shed and an above-ground pool that has been recently serviced and opened. NOTE: A home inspection and termite inspection have already been completed and are available upon request.

2. 2026-04-28
   soldstatus $192,000
3. 2026-04-22
   listed $290,000 Active 868-char remark

   Show marketing remark (868 chars)

   Welcome to this renovated 4-bedroom, 1-bath home in Browns Mills. With 1,310 sq ft, this rancher property sits in a quiet, established neighborhood. Inside, you’ll find a brand-new kitchen with cabinets, granite countertops, and stainless steel appliances. The home has been freshly painted with new flooring, updated lighting, and modern electrical fixtures throughout. A new heater and hot water heater have also been installed. The bathroom has been fully updated as well. Additional features include updated smoke and carbon monoxide systems, plus a leased solar system to be assumed by the buyer. The backyard is fully equipped for summer and storage, featuring a functional shed and an above-ground pool that has been recently serviced and opened. NOTE: A home inspection and termite inspection have already been completed and are available upon request.

4. 2024-06-26
   historical
5. 2024-05-21
   price $308,000
6. 2024-05-21
   historical Active Under Contract
7. 2024-05-18
   listed $280,000 Active
8. 2024-05-16
   historical
9. 2021-01-07
   soldstatus $185,000
10. 2020-10-20
    soldstatus $185,000 Closed
11. 2020-08-19
    status Pending
12. 2020-08-18
    price $185,000
13. 2020-08-07
    listed $184,900 Active
14. 2017-09-30
    historical
15. 2017-03-06
    listed $154,900
16. 2016-04-13
    historical
17. 2015-10-13
    listed $174,800
18. 2006-10-20
    historical
19. 2006-09-04
    listed $235,000
20. 1979-02-01
    soldstatus $36,500

ⓘ 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: $4,808 · $401/mo
• Projected year-2 tax: $6,014 · $501/mo
• Expected delta: +$1,207/yr (+$101/mo · 25.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $35,290
• − Mortgage interest: −$16,245
• − Property taxes: −$4,808
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,823
• − Management: −$2,823
• − Depreciation: −$8,436
• Taxable loss: −$1,295
• Est. tax savings @ 24.0%: +$311
• After-tax cash flow: $3,682/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: Pemberton Township School District
• NCES district ID: 3412810
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $60,951
• Composite: 23.0/100
• National rank: #7979
• State rank: #382 of 472 in NJ

Livability — Browns Mills

• Score: 63/100
• State rank: #436
• US rank: #15864

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Browns Mills, NJ
• Population (ZIP): 19,143

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 14% Black 13% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10%
• Common ancestry: Romanian 3% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica, South Korea
• Languages at home: 87% English-only · Spanish 7% French/Haitian/Cajun 3% Tagalog/Filipino 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: ▼ -98.84%
• Current HPI: 329.1731
• 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

+426.0% since first listed

20 events — show timeline

• 2026-05-05 Pending — BRIGHT MLS
• 2026-04-28 Sold (Public Records) $192,000 Public Records
• 2026-04-22 Listed $290,000 BRIGHT MLS
• 2024-06-26 Listing Removed — BRIGHT MLS
• 2024-05-21 Price Changed $308,000 BRIGHT MLS
• 2024-05-21 Contingent — BRIGHT MLS
• 2024-05-18 Listed $280,000 BRIGHT MLS
• 2024-05-16 Coming Soon — BRIGHT MLS
• 2021-01-07 Sold (Public Records) $185,000 Public Records
• 2020-10-20 Sold (MLS) $185,000 BRIGHT MLS
• 2020-08-19 Pending — BRIGHT MLS
• 2020-08-18 Price Changed $185,000 BRIGHT MLS
• 2020-08-07 Listed $184,900 BRIGHT MLS
• 2017-09-30 Listing Removed — BRIGHT MLS
• 2017-03-06 Listed $154,900 BRIGHT MLS
• 2016-04-13 Listing Removed — BRIGHT MLS
• 2015-10-13 Listed $174,800 BRIGHT MLS
• 2006-10-20 Listing Removed — BRIGHT MLS
• 2006-09-04 Listed $235,000 BRIGHT MLS
• 1979-02-01 Sold (Public Records) $36,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $4,808 · +6.1% YoY. Source: county tax records.