1762 Crown Point Rd Unit 2310 B,

National Park, NJ 08086

$93,054B

2 bd · 1.0 ba · 780 sqft · Built 1970 · Manufactured · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,010/mo
• Mortgage (P&I): −$488
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $945/mo
• Annual: $11,339/yr
• Cap rate: 18.48%
• Cash-on-cash: 43.52%
• DSCR: 2.94
• 1% rule: 2.16%
• Cash to close: $26,055

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $93k. Condition is rated excellent.
• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• It's been on market 24 days — a 2% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $644 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#196 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B; Watch: amenities F, commute F.
• West Deptford Township School District (suburban): math 24% / reading 50% proficiency, ranked #253 of 472 in NJ (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: West Deptford High School (math 32% / reading 57%, grade F, #149 of 399 statewide, top 40%, 781 students, 22% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 40 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• Gloucester County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.5% vs local median 5.0% in National Park — 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

• Built in 1970 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.