14 Union St

Vincentown, NJ 08060

$265,777C+

3 bd · 2.0 ba · 1,963 sqft · Built 1900 · Townhouse · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,076/mo
• Mortgage (P&I): −$1,394
• Tax + insurance: −$568
• HOA: −$0
• Vac / Maint / Mgmt: −$646
• Net cashflow: $468/mo
• Annual: $5,620/yr
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• 1% rule: 1.16%
• Cash to close: $74,418

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $266k.
• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $266k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Rancocas Valley Regional High School District (suburban): math 29% / reading 49% proficiency, ranked #236 of 472 in NJ (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gertrude C. Folwell Elementary School (math 8% / reading 32%, grade F, #995 of 1,303 statewide, top 78%, 332 students, 60% FRL); F. W. Holbein Middle School (math 11% / reading 35%, grade F, #376 of 431 statewide, top 88%, 449 students, 64% FRL); Rancocas Valley Regional High School (math 29% / reading 49%, grade F, #197 of 399 statewide, top 51%, 1,981 students, 25% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.4%/yr); 137 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• 2 sale attempts since 2y 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.
• Climate carrying-cost: major wind risk, 51% 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.
• Cap rate 8.4% vs local median 4.5% in Vincentown — 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.
• This rent runs 34% of the median local income ($109k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.