136 Vanderbilt Ave

Woodbury Heights, NJ 08097

$299,900C-

4 bd · 1.5 ba · 2,077 sqft · Built 1965 · SingleFamily · Active · 476 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,100/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$800
• HOA: −$0
• Vac / Maint / Mgmt: −$651
• Net cashflow: $76/mo
• Annual: $918/yr
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• 1% rule: 1.03%
• Cash to close: $83,972

Investor read

• This is a 4-bed/1.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $76 ($918/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• It's been on market 476 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 74/100 on livability (#183 in NJ, #4,954 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Woodbury Heights Public School District (suburban): math 50% / reading 55% proficiency, ranked #308 of 612 in NJ (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Woodbury Heights Elementary (math 22% / reading 47%, grade F, #582 of 1,303 statewide, top 49%, 255 students, 9% FRL); Gateway Regional High School (math 13% / reading 41%, grade F, #312 of 399 statewide, top 79%, 849 students, 23% FRL) — zoned schools at 16% FRL track the district average.
• Zoned-school proficiency averages 31% at this address vs 52% district-wide (-22 pts) — the specific schools serving this property underperform the Woodbury Heights Public School District average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 20 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 4 sale attempts since 27y 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 $42k; list at $300k implies a 606% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 52% 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 6.6% vs local median 3.6% in Woodbury Heights — 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

• It's been on market 476 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.