410 E Lavender Rd #302 · Wildwood Crest, NJ 08260

$669,999

2 bd · 2.5 ba · 1,336 sqft · Condo public records · 94 Days on market

Built 2006 $501/sqft · at area comps Est $699k · at est.

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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 +25.9/30.0
• ARV discount +9.4/15.0
• DSCR +8.7/10.0
• 1% rule +6.1/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious top-floor 2-bedroom condo feels like a three bedroom in size, offering an expansive open-concept living and dining area beneath soaring cathedral ceilings. Natural light fills the space, and sliders lead to a private deck with beautiful water views—the perfect spot to relax and enjoy the weekly fireworks. The layout accommodates up to 8 people comfortably as the livingroom has two sofa sleepers, making it ideal for personal use or a strong rental performer. Enjoy the convenience of an elevator, two assigned inside covered parking spaces, and access to the onsite pool, or take a short walk to the beach bicycle path or boardwalk. A rare combination of size, amenities, and location on the island. Put this one at the top of the list!

Key facts

• Private deck
• Water views
• Elevator

Tags

• TOP-FLOOR
• OPEN-CONCEPT LIVING
• PRIVATE DECK
• WATER VIEWS
• ELEVATOR
• ASSIGNED PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $670k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $670k).
• Recommended offer: $610k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.7% in Wildwood Crest — 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 70/100 on livability (#257 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities C-, commute F, cost of living F.
• Wildwood Crest Borough School District (suburban): math 35% / reading 45% proficiency, ranked #493 of 612 in NJ (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 431 active listings in the ZIP; 3 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 $5k of loan paydown is wiped out by about $20k 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.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($610k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $365k; list at $670k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $609,699 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• GRM: 7.5

CMA / ARV

• ARV (median comp): $698,788
• List price: $669,999
• Delta: -4.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-4,100
• Equity at exit: $99,899

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $130,566
• Equity at exit: $57,929

Cash invested: $187,600 (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: 7.5×

Monthly cashflow live

• Estimated rent: $7,424 medium
• Mortgage (P&I): −$3,514
• Tax from tax record: −$430 /mo · $5,157/yr
• Insurance: −$279
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,559
• Net cashflow: $1,642

Break-even live

Break-even rent $5,345

Max offer price $669,999

Occupancy floor 73%

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: $167,500
• Closing costs: $20,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.79mi
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	43d	1	1.00mi
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	43d	1	1.03mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-13
   status $669,999 Under Contract 94 DOM
2. 2026-06-12
   days on market $669,999 Active 94 DOM
3. 2026-06-09
   days on market $669,999 Active 91 DOM
4. 2026-06-08
   days on market $669,999 Active 90 DOM
5. 2026-06-07
   days on market $669,999 Active 89 DOM
6. 2026-06-07
   days on market $669,999 Active 88 DOM
7. 2026-06-04
   days on market $669,999 Active 85 DOM
8. 2026-06-02
   days on market $669,999 Active 84 DOM
9. 2026-06-01
   days on market $669,999 Active 83 DOM
10. 2026-05-31
    days on market $669,999 Active 82 DOM
11. 2026-05-18
    price $669,999 760-char remark

    Show marketing remark (760 chars)

    This spacious top-floor 2-bedroom condo feels like a three bedroom in size, offering an expansive open-concept living and dining area beneath soaring cathedral ceilings. Natural light fills the space, and sliders lead to a private deck with beautiful water views—the perfect spot to relax and enjoy the weekly fireworks. The layout accommodates up to 8 people comfortably as the livingroom has two sofa sleepers, making it ideal for personal use or a strong rental performer. Enjoy the convenience of an elevator, two assigned inside covered parking spaces, and access to the onsite pool, or take a short walk to the beach bicycle path or boardwalk. A rare combination of size, amenities, and location on the island. Put this one at the top of the list!

12. 2026-05-02
    price $675,000 760-char remark

    Show marketing remark (760 chars)

    This spacious top-floor 2-bedroom condo feels like a three bedroom in size, offering an expansive open-concept living and dining area beneath soaring cathedral ceilings. Natural light fills the space, and sliders lead to a private deck with beautiful water views—the perfect spot to relax and enjoy the weekly fireworks. The layout accommodates up to 8 people comfortably as the livingroom has two sofa sleepers, making it ideal for personal use or a strong rental performer. Enjoy the convenience of an elevator, two assigned inside covered parking spaces, and access to the onsite pool, or take a short walk to the beach bicycle path or boardwalk. A rare combination of size, amenities, and location on the island. Put this one at the top of the list!

13. 2026-04-03
    price $689,000 760-char remark

    Show marketing remark (760 chars)

    This spacious top-floor 2-bedroom condo feels like a three bedroom in size, offering an expansive open-concept living and dining area beneath soaring cathedral ceilings. Natural light fills the space, and sliders lead to a private deck with beautiful water views—the perfect spot to relax and enjoy the weekly fireworks. The layout accommodates up to 8 people comfortably as the livingroom has two sofa sleepers, making it ideal for personal use or a strong rental performer. Enjoy the convenience of an elevator, two assigned inside covered parking spaces, and access to the onsite pool, or take a short walk to the beach bicycle path or boardwalk. A rare combination of size, amenities, and location on the island. Put this one at the top of the list!

14. 2026-03-06
    listed $699,000 Active 760-char remark

    Show marketing remark (760 chars)

    This spacious top-floor 2-bedroom condo feels like a three bedroom in size, offering an expansive open-concept living and dining area beneath soaring cathedral ceilings. Natural light fills the space, and sliders lead to a private deck with beautiful water views—the perfect spot to relax and enjoy the weekly fireworks. The layout accommodates up to 8 people comfortably as the livingroom has two sofa sleepers, making it ideal for personal use or a strong rental performer. Enjoy the convenience of an elevator, two assigned inside covered parking spaces, and access to the onsite pool, or take a short walk to the beach bicycle path or boardwalk. A rare combination of size, amenities, and location on the island. Put this one at the top of the list!

15. 2018-10-26
    soldstatus $365,000

ⓘ 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: $5,157 · $430/mo
• Projected year-2 tax: $10,920 · $910/mo
• Expected delta: +$5,763/yr (+$480/mo · 111.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 55% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,087
• − Mortgage interest: −$37,530
• − Property taxes: −$5,157
• − Insurance: −$3,350
• − Repairs & maintenance: −$7,127
• − Management: −$7,127
• − Depreciation: −$19,491
• Taxable income: $9,305
• Est. tax owed @ 24.0%: −$2,233
• After-tax cash flow: $17,476/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 Crest Borough School District
• NCES district ID: 3417970
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $55,087
• Composite: 37.39/100
• National rank: #8922
• State rank: #493 of 612 in NJ

Livability — Wildwood Crest

• Score: 70/100
• State rank: #257
• US rank: #7359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood Crest, 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

+83.6% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $669,999 CMCMLS
• 2026-05-02 Price Changed $675,000 CMCMLS
• 2026-04-03 Price Changed $689,000 CMCMLS
• 2026-03-06 Listed $699,000 CMCMLS
• 2018-10-26 Sold (Public Records) $365,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $5,157 · +1.4% YoY. Source: county tax records.