750 Lighthouse Dr #1112

Barnegat, NJ 08005

$240,990D-

1 bd · 1.0 ba · 853 sqft · Built 2025 · SingleFamily · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,061/mo
• Mortgage (P&I): −$1,264
• Tax + insurance: −$216
• HOA: −$334
• Vac / Maint / Mgmt: −$433
• Net cashflow: $-186/mo
• Annual: $-2,227/yr
• Cap rate: 5.37%
• Cash-on-cash: -3.30%
• DSCR: 0.85
• 1% rule: 0.86%
• Cash to close: $67,477

Investor read

• This is a 1-bed/1.0-bath single-family listed at $241k. Condition is rated excellent.
• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (14.5% below list).
• It's been on market 154 days — a 12% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $206k (14.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#310 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• Barnegat Township School District (suburban): math 23% / reading 46% proficiency, ranked #285 of 472 in NJ (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cecil S. Collins Elementary (784 students, 38% FRL); Russell O. Brackman Middle School (math 22% / reading 51%, grade F, #226 of 431 statewide, top 55%, 579 students, 33% FRL); Barnegat High School (math 20% / reading 45%, grade F, #265 of 399 statewide, top 67%, 983 students, 30% FRL).
• Market conditions: 517 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.4% vs local median 3.4% in Barnegat — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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?
• 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.