220 Park Ave Unit 21U · Hammonton, NJ 08037

$199,900

2 bd · 1.0 ba · 986 sqft · Condo · 16 Days on market

Built 1989 Fair condition $170/mo HOA · 9% of rent

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Why this score? — see what drove the D 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 +13.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Park Ave Hammonton Condo-2nd floor 2 bed 1 bath. large living room and dining area. 2 large bedrooms. updated bathroom. Large deck area . reserved parking spaces. Walk to Hammonton lake park. washer dryer.

Key facts

• Large deck area
• Dining area
• Large living room

Tags

• LARGE LIVING ROOM
• DINING AREA
• UPDATED BATHROOM
• LARGE DECK AREA
• RESERVED PARKING SPACES
• WALK TO HAMMONTON LAKE PARK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $14 ($171/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (0.9% below list).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.3% in Hammonton — 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 72/100 on livability (#205 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F, cost of living F.
• Hammonton School District (town): math 24% / reading 43% proficiency, ranked #306 of 472 in NJ (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Warren E. Sooy Jr. Elementary School (math 27% / reading 39%, grade F, #650 of 1,303 statewide, top 50%, 755 students, 44% FRL); Hammonton Middle School (math 24% / reading 46%, grade F, #246 of 431 statewide, top 59%, 842 students, 38% FRL); Hammonton High School (math 22% / reading 43%, grade F, #265 of 399 statewide, top 67%, 1,357 students, 32% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: 147 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% 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.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-31,350
• Equity at exit: $29,806

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-25,584
• Equity at exit: $17,284

Cash invested: $55,972 (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 08037

• Home prices YoY: -28.8%
• Active inventory: 147
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,982 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$170
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $14

Break-even live

Break-even rent $1,964

Max offer price $199,900

Occupancy floor 94%

Sensitivity live

Price	-10% $152	-5% $83	+0% $14	+5% $-55	+10% $-124
Rent	-10% $-142	-5% $-64	+0% $14	+5% $93	+10% $171
Rate	-1.0pp $115	-0.5pp $65	base $14	+0.5pp $-38	+1.0pp $-90

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
748 Bellevue Ave Hammonton, NJ	1.0–2.0	1.0	800	$1,750	$2.19	0d	1	0.98mi
400 N Packard St Unit A Hammonton, NJ	2.0	1.0	1100	$1,800	$1.64	0d	1	1.15mi
54 Michael Rd Hammonton, NJ	2.0	1.0	1023	$2,495	$2.44	0d	1	1.48mi

HOA detail condo

• Monthly dues: $170 · $2,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-04-08
   status Pending
2. 2026-03-23
   listed $199,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone C · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,783
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,903
• − Management: −$1,903
• − HOA: −$2,040
• − Depreciation: −$5,815
• Taxable loss: −$3,073
• Est. tax savings @ 24.0%: +$738
• After-tax cash flow: $909/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

The home is in fair condition with some cosmetic repairs needed. Painting the exterior siding, re-carpeting the flooring, and painting the interior walls would significantly increase its resale and rental value.

Repairs flagged

• Minor broken window — A broken window is visible on the balcony.

Value-add opportunities

• Resale Painting the exterior siding — Painting the exterior siding can improve the curb appeal and make the home look more attractive to potential buyers.
• Rental Re-carpeting the flooring — Re-carpeting the flooring can make the home more appealing to renters and improve the overall living experience.
• Both Painting the interior walls — Painting the interior walls can improve the overall appearance of the home and make it more attractive to both buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
broken window · A broken window is visible on the balcony.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Resale Painting the exterior siding — Painting the exterior siding can improve the curb appeal and make the home look more attractive to potential buyers. ↑
• Rental Re-carpeting the flooring — Re-carpeting the flooring can make the home more appealing to renters and improve the overall living experience. ↑
• Both Painting the interior walls — Painting the interior walls can improve the overall appearance of the home and make it more attractive to both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hammonton School District
• NCES district ID: 3406570
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $61,087
• Composite: 30.09/100
• National rank: #6341
• State rank: #306 of 472 in NJ

Livability — Hammonton

• Score: 72/100
• State rank: #205
• US rank: #5755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammonton, NJ
• City population: 23,385
• Population (ZIP): 23,385

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 6% Italian 2% Subsaharan African 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 80% English-only · Spanish 16% Other Indo-European 3% German/W. Germanic 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: ▼ -123.42%
• Current HPI: 305.1238
• 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

2 events — show timeline

• 2026-04-08 Pending — BRIGHT MLS
• 2026-03-23 Listed $199,900 BRIGHT MLS