8305 Winchester Ave · Margate City, NJ 08401-9999

$1,100,000

4 bd · 1.5 ba · 1,204 sqft · SingleFamily public records · 13 Days on market

Built 1950 Fair condition Garage $914/sqft · 25% above area Est $1.318M · 17% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Schools +5.3/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

WELL MAINTAINED, GREAT LOCATION. FINISHED 2ND FLOOR. LARGE SUNKEN FAMILY ROOM, GARAGE, 20 X 20' DECK OFF SECOND FLOOR. EASY TO SHOW.

Key facts

• Garage
• Built 1950
• Listed 13 days

Tags

• CORNER LOT OPPORTUNITY
• THREE BLOCKS FROM THE BEACH
• LARGE SECOND STORY DECK

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $1.10M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-6k ($-67k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (89.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (82.1% below list).
• Recommended offer: $118k (89.3% below list) — sets the bar for cash-flow.
• Cap rate 0.7% vs local median 6.4% in Margate City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, commute F, cost of living F.
• Margate City School District (suburban): math 50% / reading 58% proficiency, ranked #113 of 472 in NJ (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: William H. Ross Iii School (math 37% / reading 62%, grade D, #256 of 1,303 statewide, top 22%, 184 students, 4% FRL); Eugene A. Tighe Middle School (math 57% / reading 57%, grade B, #51 of 431 statewide, top 12%, 152 students, 6% FRL) — zoned schools at 5% FRL track the district average.
• Market conditions: 8 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($8k loan paydown + $33k appreciation (3.0% local appreciation)).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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 $152k; list at $1.10M implies a 624% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,049 (89.3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.18% ✗
• Cap rate: 0.66%
• Cash-on-cash: -20.12%
• DSCR: 0.10
• GRM: 46.6

CMA / ARV

• ARV (median comp): $1,318,430
• List price: $1,100,000
• Delta: -16.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 N Iroquois	0.05mi	3/2.0 (-1)	1,362 (+13%)	13mo	$999,999	$734	58
113 N Richards Ave	1.10mi	3/1.5 (-1)	1,190 (-1%)	17mo	$569,000	$478	44
414 N Union Ave	0.58mi	3/2.0 (-1)	964 (-20%)	2mo	$900,000	$934	39
111 S Decatur Ave	0.71mi	3/2.5 (-1)	1,264 (+5%)	17mo	$1,700,000	$1,345	36
12 N Swarthmore Ave	0.75mi	3/1.0 (-1)	1,104 (-8%)	17mo	$720,000	$652	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -12.5%
• Equity multiple: 0.27×
• Total profit: $-223,843
• Equity at exit: $494,608

10-year hold

• IRR: -6.0%
• Equity multiple: 0.03×
• Total profit: $-297,967
• Equity at exit: $762,249

Cash invested: $308,000 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $1,199,000 ($979/sqft)
• Median days on market: 27 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +11.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 08401-9999

• Active inventory: 8
• Price-to-rent: 46.6×

Monthly cashflow live

• Estimated rent: $1,967 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$492 /mo · $5,902/yr
• Insurance: −$458
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-5,591

Break-even live

Break-even rent $9,045

Max offer price $118,049

Occupancy floor —

Sensitivity live

Price	-10% $-4,968	-5% $-5,280	+0% $-5,591	+5% $-5,902	+10% $-6,214
Rent	-10% $-5,747	-5% $-5,669	+0% $-5,591	+5% $-5,513	+10% $-5,436
Rate	-1.0pp $-5,037	-0.5pp $-5,311	base $-5,591	+0.5pp $-5,876	+1.0pp $-6,166

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: $275,000
• Closing costs: $33,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 N Coolidge Ave Unit A1 Margate City, NJ	3.0	2.0	1258	$35,000	$27.82	140d	1	0.97mi
216 N Coolidge Ave Margate City, NJ	3.0	2.5	1481	$2,500	$1.69	6d	1	1.00mi
3 S Richards Ave Unit B Ventnor City, NJ	3.0	2.0	1200	$7,500	$6.25	6d	1	1.13mi
10 S Troy Ave Unit Upstairs (July) Ventnor City, NJ	3.0	2.0	1008	$21,000	$20.83	6d	1	1.14mi
124 N Portland Ave Ventnor City, NJ	3.0	2.0	1200	$2,000	$1.67	5d	1	1.32mi
202 N Sacramento Ave Unit A Ventnor City, NJ	5.0	2.0	960	$1,400	$1.46	6d	1	1.39mi
202 N Sacramento Ave Unit B Ventnor City, NJ	5.0	2.0	960	$1,600	$1.67	6d	1	1.39mi
120 N Harvard Ave Ventnor City, NJ	3.0	1.0	1000	$2,100	$2.10	139d	1	1.42mi

Property features AI

Finance

• Other: Lead-based paint disclosure availableSeller's property condition disclosure available

Exterior

• Parking: Two exterior parking spacesOne-car garage
• Utilities: Public waterPublic sewerGas water heater
• Home design: Single property for sale
• Exterior features: DeckPorchConcrete drivewayCorner lot

Interior

• Kitchen: Eat-in kitchenDishwasherGas stoveSelf-cleaning ovenRefrigerator
• Bathrooms: 1 full bath1 half bath
• Heating & cooling: Central air conditioningForced air heating (natural gas)
• Interior features: DishwasherDryerGas stoveRefrigeratorSelf-cleaning ovenWasherDen/TV roomEat-in kitchenLaundry/utility roomCrawl space basement
• Laundry & utility: Washer and dryerLaundry/utility room

Listing history 10 events

1. 2026-06-15
   days on market $1,100,000 Active 13 DOM
2. 2026-06-14
   days on market $1,100,000 Active 11 DOM
3. 2026-06-13
   days on market $1,100,000 Active 10 DOM
4. 2026-06-10
   days on market $1,100,000 Active 8 DOM
5. 2026-06-09
   days on market $1,100,000 Active 7 DOM
6. 2026-06-08
   days on market $1,100,000 Active 6 DOM
7. 2026-06-07
   days on market $1,100,000 Active 5 DOM
8. 2026-06-05
   days on market $1,100,000 Active 2 DOM
9. 2026-06-03
   remarks 699-char remark
10. 2026-06-03
    listed $1,100,000 Active 1 DOM

ⓘ 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: $5,902 · $492/mo
• Projected year-2 tax: $16,646 · $1,387/mo
• Expected delta: +$10,744/yr (+$895/mo · 182.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥95°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,607
• − Mortgage interest: −$61,617
• − Property taxes: −$5,902
• − Insurance: −$10,618
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$32,000
• Taxable loss: −$90,308
• Est. tax savings @ 24.0%: +$21,674
• After-tax cash flow: $-45,420/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $30,100–$54,180 screening

The home requires moderate exterior and interior repairs, but has potential for significant value increase with fresh paint and minor updates.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Moderate roof — Aged appearance

Value-add opportunities

• Both paint exterior siding — Fresh paint would improve curb appeal and home value ↑
• Both paint interior walls — Fresh paint would improve home's appearance and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary William H. Ross Iii School D NJ #256/1,303 Nat'l #12,785/41,679 Middle Eugene A. Tighe Middle School B NJ #51/431 Nat'l #2,208/14,009

Schools (NCES district)

• District: Margate City School District
• NCES district ID: 3409690
• Math proficiency: 50% ▼ -26.00%
• Reading proficiency: 58% ▼ -28.00%
• Median HH income: $67,112
• Composite: 47.71/100
• National rank: #2241
• State rank: #113 of 472 in NJ

B Composite livability gradescore 75/100

Livability — Margate City

• Score: 75/100
• State rank: #149
• US rank: #3893

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: Margate City, NJ

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Population outlook (Atlantic County) Hauer SSP2

• Today (2025): 268,948 people
• By 2030: 264,497 · -1.7%
• By 2040: 252,261 · -6.2%
• By 2050: 237,846 · -11.6%
• By 2075: 210,650 · -21.7%
• By 2100: 180,234 · -33.0%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

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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

Property features AI

Finance

• Other: Lead-based paint disclosure availableSeller's property condition disclosure available

Exterior

• Parking: Two exterior parking spacesOne-car garage
• Utilities: Public waterPublic sewerGas water heater
• Home design: Single property for sale
• Exterior features: DeckPorchConcrete drivewayCorner lot

Interior

• Kitchen: Eat-in kitchenDishwasherGas stoveSelf-cleaning ovenRefrigerator
• Bathrooms: 1 full bath1 half bath
• Heating & cooling: Central air conditioningForced air heating (natural gas)
• Interior features: DishwasherDryerGas stoveRefrigeratorSelf-cleaning ovenWasherDen/TV roomEat-in kitchenLaundry/utility roomCrawl space basement
• Laundry & utility: Washer and dryerLaundry/utility room

Price history

+600.6% since first listed

8 events — show timeline

• 2026-06-16 Listing Removed — SJSRMLS
• 2026-06-02 Listed $1,100,000 SJSRMLS
• 1999-06-08 Sold (Public Records) $152,000 Public Records
• 1999-04-26 Sold (Public Records) $152,000 Public Records
• 1999-04-16 Sold (MLS) $152,000 SJSRMLS
• 1999-02-02 Listing Removed — SJSRMLS
• 1998-04-27 Listed $169,900 SJSRMLS
• 1990-01-05 Sold (Public Records) $157,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $5,902 · +4.6% YoY. Source: county tax records.