5201 Ocean Ave #3008 · Wildwood, NJ 08260

$499,900

2 bd · 1.0 ba · 1,170 sqft · Condo public records · 10 Days on market

Built 1971

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Why this score? — see what drove the C+ 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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ocean Front Location! Enjoy this 2 bedroom, 1 bath Oceanfront condo located on the 3rd floor in the North Ocean Tower. Includes your very own private deck with unobstructed Ocean Views - the Best views on the island! Ocean Towers also boasts elevators, large heated pool, hot tub, kiddie pool, fabulous sun deck, exercise room and Tram Car stops right out front!!

Key facts

• Beachfront condo
• Washer and dryer
• Sliding glass doors

Tags

• BEACHFRONT CONDO
• RENOVATED KITCHEN
• WASHER AND DRYER
• SLIDING GLASS DOORS
• NEW FLOORING
• MASSIVE SUNDECK

Property features AI

Finance

• Other: Located 1 block from the beach
• HOA & community: Monthly condo fee of $714; Elevator access; Cable TV available

Exterior

• Parking: Assigned parking for 1 car
• Utilities: City water; City sewer; Electric hot water
• Home design: Condominium unit (Unit 3008); Year-round use
• Exterior features: Water view; Pool view; Deck/porch; Enclosed/covered porch; Outside shower; Storage facilities; Pool; Whirlpool/spa

Interior

• Kitchen: Range; Oven; Self-cleaning oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms (one master on the 1st floor)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating with forced air; Central air conditioning (electric)
• Interior features: Drapes and blinds included; Partial furniture included; Living room; Eat-in kitchen; Dining area; Pantry; Laundry/utility room; Great room; Storage space; Foyer; Handicap features
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Cap rate 10.2% vs local median 5.6% in Wildwood — 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 74/100 on livability (#176 in NJ, #4,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, schools F, crime F.
• Wildwood City School District (suburban): math 12% / reading 27% proficiency, ranked #442 of 472 in NJ (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 431 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $375k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $499,900

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.25% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.84%
• DSCR: 1.62
• GRM: 6.7

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $21,804
• Equity at exit: $74,537

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $151,423
• Equity at exit: $43,222

Cash invested: $139,972 (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 08260

• Home prices YoY: -30.7%
• Active inventory: 431
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $6,261 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$502 /mo · $6,026/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,315
• Net cashflow: $1,614

Break-even live

Break-even rent $4,218

Max offer price $499,900

Occupancy floor 69%

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	43d	1	0.60mi
206 W Spencer Ave Wildwood, NJ	2.0	1.0	750	$2,000	$2.67	44d	1	0.77mi
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	43d	1	0.79mi
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	43d	1	0.95mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-18
   listed $499,900 Active
2. 2021-09-23
   soldstatus $375,000
3. 2021-09-03
   soldstatus $375,000 Sold In-House 363-char remark

   Show marketing remark (363 chars)

   Ocean Front Location! Enjoy this 2 bedroom, 1 bath Oceanfront condo located on the 3rd floor in the North Ocean Tower. Includes your very own private deck with unobstructed Ocean Views - the Best views on the island! Ocean Towers also boasts elevators, large heated pool, hot tub, kiddie pool, fabulous sun deck, exercise room and Tram Car stops right out front!!

4. 2021-07-30
   status Under Contract 363-char remark

   Show marketing remark (363 chars)

   Ocean Front Location! Enjoy this 2 bedroom, 1 bath Oceanfront condo located on the 3rd floor in the North Ocean Tower. Includes your very own private deck with unobstructed Ocean Views - the Best views on the island! Ocean Towers also boasts elevators, large heated pool, hot tub, kiddie pool, fabulous sun deck, exercise room and Tram Car stops right out front!!

5. 2021-07-08
   listed $399,900 Active 363-char remark

   Show marketing remark (363 chars)

   Ocean Front Location! Enjoy this 2 bedroom, 1 bath Oceanfront condo located on the 3rd floor in the North Ocean Tower. Includes your very own private deck with unobstructed Ocean Views - the Best views on the island! Ocean Towers also boasts elevators, large heated pool, hot tub, kiddie pool, fabulous sun deck, exercise room and Tram Car stops right out front!!

6. 2002-09-09
   soldstatus $240,000
7. 1976-12-09
   soldstatus $32,975

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

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $6,026 · $502/mo
• Projected year-2 tax: $9,237 · $770/mo
• Expected delta: +$3,211/yr (+$268/mo · 53.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $75,128
• − Mortgage interest: −$28,002
• − Property taxes: −$6,026
• − Insurance: −$2,500
• − Repairs & maintenance: −$6,010
• − Management: −$6,010
• − Depreciation: −$14,543
• Taxable income: $12,037
• Est. tax owed @ 24.0%: −$2,889
• After-tax cash flow: $16,478/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.

Schools (NCES district)

• District: Wildwood City School District
• NCES district ID: 3417940
• Math proficiency: 12% ▼ -6.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $33,232
• Composite: 15.84/100
• National rank: #9261
• State rank: #442 of 472 in NJ

Livability — Wildwood

• Score: 74/100
• State rank: #176
• US rank: #4679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood, NJ
• Population (ZIP): 12,913

Population outlook (Cape May County) Hauer SSP2

• Today (2025): 88,234 people
• By 2030: 84,144 · -4.6%
• By 2040: 75,146 · -14.8%
• By 2050: 67,389 · -23.6%
• By 2075: 55,732 · -36.8%
• By 2100: 44,972 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 12% Other Indo-European 3% French/Haitian/Cajun 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.83%
• Current HPI: 551.3393
• 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

+1416.0% since first listed

7 events — show timeline

• 2026-05-18 Listed $499,900 CMCMLS
• 2021-09-23 Sold (Public Records) $375,000 Public Records
• 2021-09-03 Sold (MLS) $375,000 CMCMLS
• 2021-07-30 Pending — CMCMLS
• 2021-07-08 Listed $399,900 CMCMLS
• 2002-09-09 Sold (Public Records) $240,000 Public Records
• 1976-12-09 Sold (Public Records) $32,975 Public Records

Property tax history

+2.9%/yr

Latest (2025): $6,026 · +2.8% YoY. Source: county tax records.