3401 Bridge Ave #35 · Point Pleasant, NJ 08742

$349,900

2 bd · 1.0 ba · 816 sqft · Condo public records · 4 Days on market

Built 1969 $372/mo HOA · 12% 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 +12.1/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.5/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

Key facts

• Private balcony
• Private garage
• $372 HOA

Tags

• PRIVATE BALCONY
• PRIVATE GARAGE
• IN-UNIT WASHER DRYER CLOSET

Property features AI

Finance

• HOA & community: Monthly association fee of $372; HOA covers trash and common area maintenance; Association managed by Pinnacle Property Management

Exterior

• Parking: Attached 1-car garage
• Utilities: Public sewer
• Home design: Condominium ownership; Property is attached
• Exterior features: Shingle roof; Level topography

Interior

• Kitchen: Gas cooking; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (both on the first level)
• Bathrooms: 1 full bathroom (on the first level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Includes washer, dryer, dishwasher, refrigerator, and gas cooking; No fireplaces; No basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-76 ($-910/yr) — negative.
• To cash-flow at today's rent, offer at most $337k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $323k (7.8% below list).
• Recommended offer: $323k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.9% in Point Pleasant — 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 76/100 on livability (#136 in NJ, #3,574 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Point Pleasant Borough School District (suburban): math 44% / reading 55% proficiency, ranked #132 of 472 in NJ (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Nellie F. Bennett Elementary School (math 44% / reading 50%, grade D-, #308 of 1,303 statewide, top 26%, 719 students, 7% FRL); Memorial Middle School (math 48% / reading 60%, grade B-, #72 of 431 statewide, top 17%, 610 students, 13% FRL); Point Pleasant Borough High School (math 43% / reading 50%, grade D-, #129 of 399 statewide, top 33%, 898 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: Rents rising fast (+11.7%/yr); 168 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).
• This rent runs 31% of the median local income ($123k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 18y 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 $115k; list at $350k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $322,733 (7.8% below list)

Questions for the listing agent

1. 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?
2. Built in 1969 — 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 A-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.55×
• Total profit: $-44,296
• Equity at exit: $52,171

10-year hold

• IRR: 3.8%
• Equity multiple: 1.34×
• Total profit: $33,553
• Equity at exit: $30,253

Cash invested: $97,972 (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 08742

• Rents YoY: 11.7%
• Active inventory: 168
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,227 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$273 /mo · $3,272/yr
• Insurance: −$146
• HOA: −$372
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $-76

Break-even live

Break-even rent $3,323

Max offer price $336,507

Occupancy floor 97%

Sensitivity live

Price	-10% $122	-5% $23	+0% $-76	+5% $-175	+10% $-274
Rent	-10% $-331	-5% $-203	+0% $-76	+5% $52	+10% $179
Rate	-1.0pp $100	-0.5pp $13	base $-76	+0.5pp $-166	+1.0pp $-259

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Coolidge Dr Brick, NJ	2.0	1.0	540	$2,200	$4.07	20d	1	0.97mi
2230 Bridge Ave #4 Point Pleasant Boro, NJ	2.0	2.0	1124	$3,400	$3.02	0d	1	1.27mi

HOA detail condo

• Monthly dues: $372 · $4,464/yr
• Likely covers: watersewer
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-18
   listed $349,900 Active 800-char remark
2. 2016-03-17
   soldstatus $115,000
3. 2016-02-17
   soldstatus $115,000 Sold 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

4. 2016-02-05
   historical 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

5. 2016-02-05
   status Pending 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

6. 2016-01-05
   status Active 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

7. 2015-10-21
   historical 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

8. 2015-10-13
   status Active 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

9. 2015-09-22
   historical 225-char remark

   Show marketing remark (225 chars)

   Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

10. 2015-09-04
    price $129,000 225-char remark

    Show marketing remark (225 chars)

    Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

11. 2015-04-16
    status Active 225-char remark

    Show marketing remark (225 chars)

    Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

12. 2015-04-14
    historical 225-char remark

    Show marketing remark (225 chars)

    Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

13. 2015-01-29
    listed $139,900 Active 225-char remark

    Show marketing remark (225 chars)

    Point Park upper level end unit totally redone condo features 2 bedrooms, updated bath, living room, dining room, hardwood floors throughout, laundry room, attached 1 car garage. Water & Sewer included in maintenance fee.

14. 2009-04-03
    listed $199,000
15. 2008-09-03
    listed $204,000
16. 2008-02-27
    listed $204,000
17. 1998-12-21
    soldstatus $72,000
18. 1990-09-25
    soldstatus $83,500

ⓘ 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: $3,272 · $273/mo
• Projected year-2 tax: $5,992 · $499/mo
• Expected delta: +$2,720/yr (+$227/mo · 83.1%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,728
• − Mortgage interest: −$19,600
• − Property taxes: −$3,272
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,098
• − Management: −$3,098
• − HOA: −$4,464
• − Depreciation: −$10,179
• Taxable loss: −$6,733
• Est. tax savings @ 24.0%: +$1,616
• After-tax cash flow: $706/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: Point Pleasant Borough School District
• NCES district ID: 3413290
• Math proficiency: 44% ▼ -15.00%
• Reading proficiency: 55% ▼ -11.00%
• Median HH income: $82,536
• Composite: 45.44/100
• National rank: #2619
• State rank: #132 of 472 in NJ

Livability — Point Pleasant

• Score: 76/100
• State rank: #136
• US rank: #3574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Point Pleasant, NJ
• County: Ocean County · 439,426 people
• City population: 25,732
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,732
• Household income: $123,152
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 388.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 8% Russian/Polish/Slavic 1% Other Indo-European 1%

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: ▼ -467.19%
• Current HPI: 389.4401
• Rent YoY: ▲ 11.65%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+319.0% since first listed

19 events — show timeline

• 2026-05-22 Pending — MOMLS
• 2026-05-18 Listed $349,900 MOMLS
• 2016-03-17 Sold (Public Records) $115,000 Public Records
• 2016-02-17 Sold (MLS) $115,000 MOMLS
• 2016-02-05 Delisted — MOMLS
• 2016-02-05 Pending — MOMLS
• 2016-01-05 Relisted — MOMLS
• 2015-10-21 Delisted — MOMLS
• 2015-10-13 Relisted — MOMLS
• 2015-09-22 Delisted — MOMLS
• 2015-09-04 Price Changed $129,000 MOMLS
• 2015-04-16 Relisted — MOMLS
• 2015-04-14 Delisted — MOMLS
• 2015-01-29 Listed $139,900 MOMLS
• 2009-04-03 Listed $199,000 MOMLS
• 2008-09-03 Listed $204,000 MOMLS
• 2008-02-27 Listed $204,000 MOMLS
• 1998-12-21 Sold (Public Records) $72,000 Public Records
• 1990-09-25 Sold (Public Records) $83,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $3,272 · +6.0% YoY. Source: county tax records.