21 A Texas Blvd · Cedar Glen Lakes, NJ 08759

$125,000

2 bd · 1.0 ba · 1,200 sqft · Condo · 35 Days on market

Built 1977 Good condition $104/sqft · 20% below area Est $156k · 20% under $503/mo HOA · 24% of rent

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Why this score? — see what drove the B 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 +25.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Forever Young in Cedar Glen Lakes! Welcome to easy, carefree living in this desirable Madison Model located in the sought-after Cedar Glen Lakes adult community. This charming 2-bedroom, 1-bath side-by-side duplex offers low-maintenance living with all the comforts of home. Bright and inviting, this home is perfect for those looking to simplify without sacrificing comfort. Enjoy a spacious layout, easy one-floor living, and the relaxed lifestyle this active senior community is known for. Conveniently located near shopping and dining, whether you're downsizing, retiring, or simply ready for a more carefree lifestyle, this is the perfect place to call home!

Key facts

• Side-by-side duplex
• One-floor living
• Madison model

Tags

• CEDAR GLEN LAKES
• MADISON MODEL
• SIDE-BY-SIDE DUPLEX
• LOW-MAINTENANCE LIVING
• ONE-FLOOR LIVING
• ACTIVE SENIOR COMMUNITY

Property features AI

Finance

• HOA & community: Monthly association fee of $503; Association fee includes bus service, lawn maintenance, taxes, snow removal, and trash; Community clubhouse

Exterior

• Parking: Attached garage with inside access (1 garage space); Paved driveway with two driveway spaces; Three total garage/parking spaces
• Security: Property manager present
• Utilities: Public water; Public sewer; Electric service for heating, cooling, and hot water
• Home design: Cooperative ownership; Senior community (55+); Very good condition; Estimated year built; Approximately 1,200 finished above-grade area
• Construction: Aluminum siding; Shingle roof; No basement
• Exterior features: Above-grade additional structures; Not located in a federal flood zone; 2+ access exits

Interior

• Kitchen: Refrigerator; Dishwasher; Stove; Kitchen island; Eat-in kitchen / table space
• Bedrooms: Two bedrooms on the main level
• Flooring: Ceramic tile; Laminate plank
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Baseboard electric heat; Central air conditioning (electric); Electric hot water
• Interior features: Open floor plan; Breakfast area; Combination kitchen/dining; Combination kitchen/living; Kitchen island; Kitchen eat-in / table space; Walk-in closet(s); Tub with shower; High walls and ceilings; Entry-level bedroom
• Laundry & utility: Washer; Electric dryer; Main-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#406 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Manchester Township School District (suburban): math 25% / reading 44% proficiency, ranked #320 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 648 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.68% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.89%
• DSCR: 1.44
• GRM: 5.0

CMA / ARV

• ARV (median comp): $156,191
• List price: $125,000
• Delta: -19.97%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.2%
• Equity multiple: 0.96×
• Total profit: $-1,546
• Equity at exit: $18,638

10-year hold

• IRR: 8.8%
• Equity multiple: 1.68×
• Total profit: $23,690
• Equity at exit: $10,808

Cash invested: $35,000 (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 08759

• Active inventory: 648
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,095 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$503
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $288

Break-even live

Break-even rent $1,730

Max offer price $125,000

Occupancy floor 81%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Westport Dr #71 Whiting, NJ	2.0	1.0	1120	$2,200	$1.96	1d	1	1.38mi
49 Westport Dr #71 Whiting, NJ	2.0	1.5	1192	$1,995	$1.67	43d	1	1.40mi

HOA detail condo

• Monthly dues: $503 · $6,036/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $125,000 Active 35 DOM
2. 2026-06-17
   days on market $125,000 Active 34 DOM
3. 2026-06-16
   days on market $125,000 Active 33 DOM
4. 2026-06-15
   days on market $125,000 Active 32 DOM
5. 2026-06-13
   days on market $125,000 Active 30 DOM
6. 2026-06-09
   days on market $125,000 Active 26 DOM
7. 2026-06-08
   days on market $125,000 Active 25 DOM
8. 2026-06-07
   days on market $125,000 Active 24 DOM
9. 2026-06-04
   days on market $125,000 Active 21 DOM
10. 2026-06-03
    days on market $125,000 Active 20 DOM
11. 2026-06-02
    days on market $125,000 Active 19 DOM
12. 2026-06-01
    days on market $125,000 Active 18 DOM
13. 2026-05-31
    days on market $125,000 Active 17 DOM
14. 2026-05-14
    listed $125,000 Active 663-char remark

    Show marketing remark (663 chars)

    Forever Young in Cedar Glen Lakes! Welcome to easy, carefree living in this desirable Madison Model located in the sought-after Cedar Glen Lakes adult community. This charming 2-bedroom, 1-bath side-by-side duplex offers low-maintenance living with all the comforts of home. Bright and inviting, this home is perfect for those looking to simplify without sacrificing comfort. Enjoy a spacious layout, easy one-floor living, and the relaxed lifestyle this active senior community is known for. Conveniently located near shopping and dining, whether you're downsizing, retiring, or simply ready for a more carefree lifestyle, this is the perfect place to call home!

15. 2026-05-14
    listed $125,000 Active 663-char remark

    Show marketing remark (663 chars)

    Forever Young in Cedar Glen Lakes! Welcome to easy, carefree living in this desirable Madison Model located in the sought-after Cedar Glen Lakes adult community. This charming 2-bedroom, 1-bath side-by-side duplex offers low-maintenance living with all the comforts of home. Bright and inviting, this home is perfect for those looking to simplify without sacrificing comfort. Enjoy a spacious layout, easy one-floor living, and the relaxed lifestyle this active senior community is known for. Conveniently located near shopping and dining, whether you're downsizing, retiring, or simply ready for a more carefree lifestyle, this is the perfect place to call home!

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,143
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − HOA: −$6,036
• − Depreciation: −$3,636
• Taxable income: $1,946
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $2,994/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 · 30 photos

Good 80/100 Cosmetic rehab

This charming 2-bedroom, 1-bath side-by-side duplex in Cedar Glen Lakes is in good condition with a good condition score of 80. It offers low-maintenance living and is ready for a new owner to move in.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale replace blinds — improves light control and aesthetics
• Both install smart home devices — increases home's marketability and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale replace blinds — improves light control and aesthetics ↑
• Both install smart home devices — increases home's marketability and energy efficiency ↑

ⓘ 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: Manchester Township School District
• NCES district ID: 3409450
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $38,905
• Composite: 28.8/100
• National rank: #6662
• State rank: #320 of 472 in NJ

Livability — Cedar Glen Lakes

• Score: 64/100
• State rank: #406
• US rank: #14186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Glen Lakes, NJ
• City population: 34,290
• Population (ZIP): 34,290

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Black 4% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 88% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Indo-European 2%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -347.85%
• Current HPI: 274.4679
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-14 Listed $125,000 MOMLS
• 2026-05-14 Listed $125,000 BRIGHT MLS