510 E Anglesea Dr #15 · North Wildwood, NJ 08260

$549,000

2 bd · 1.5 ba · 880 sqft · Condo public records · 128 Days on market

Built 1988

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your perfect shore getaway! Walking distance to beautiful North Wildwood beaches and restaurants. Beautiful ocean view from deck. Fully furnished and ready for you to turn the key to your new home down the shore! This 2 bedroom one and half bath condo features dual decks for enjoying the views of both the ocean and the gorgeous pool facility. Ready for your personal touches and in excellent condition both in and out. This remarkable property is what you have been looking for and will go quickly as the season is upon us for summer fun!

Key facts

• Dual decks
• Ocean view
• Parking

Tags

• OCEAN VIEW
• DUAL DECKS
• WALKING DISTANCE TO BEACHES
• GORGEOUS POOL FACILITY

Property features AI

Finance

• Other: For sale
• HOA & community: Monthly condo fee of $900; Year-round usage allowed

Exterior

• Parking: Parking space for 1 car
• Utilities: City water; City sewer; Gas hot water
• Home design: Condo; First floor and top floor locations noted (unit listing); Unit faces pool/water views
• Construction: Owners allowed pets
• Exterior features: Deck/porch; Pool; Whirlpool/Spa (common area); Water view; Pool view; Corner unit; 1 block to the beach; 1 block to the bay

Interior

• Kitchen: Range; Oven; Microwave; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: 2 bedrooms (Unit 15)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Living room; Dining area; Pantry; Laundry/utility room; Furniture included; 7 total rooms; Whirlpool/Spa (unit feature)
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $549k.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $549k).
• Recommended offer: $483k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 3.6% in North 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 68/100 on livability (#318 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities C-, crime D-, commute F.
• North Wildwood School District (suburban): math 55% / reading 45% proficiency, ranked #396 of 612 in NJ (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 431 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $4k of loan paydown is wiped out by about $16k 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 $154k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($483k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $61k; list at $549k implies a 800% gain — meaningful room to come down on a strong offer.

Recommended offer $483,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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?
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: 2.37% ✓
• Cap rate: 20.67%
• Cash-on-cash: 51.34%
• DSCR: 3.28
• GRM: 3.5

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: 49.2%
• Equity multiple: 3.15×
• Total profit: $330,055
• Equity at exit: $81,858

10-year hold

• IRR: 54.7%
• Equity multiple: 6.38×
• Total profit: $827,329
• Equity at exit: $47,467

Cash invested: $153,720 (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: 3.5×

Monthly cashflow live

• Estimated rent: $13,000 medium
• Mortgage (P&I): −$2,879
• Tax from tax record: −$310 /mo · $3,725/yr
• Insurance: −$229
• HOA est. from 1 same-building comp: −$275
• Vacancy / Maint / Mgmt: −$2,730
• Net cashflow: $6,577

Break-even live

Break-even rent $4,675

Max offer price $549,000

Occupancy floor 44%

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
642 W Pine Ave #2 North Wildwood, NJ	3.0	1.0	1010	$13,000	$12.87	43d	1	0.21mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-18
   days on market $549,000 Active 128 DOM
2. 2026-06-17
   days on market $549,000 Active 127 DOM
3. 2026-06-16
   days on market $549,000 Active 126 DOM
4. 2026-06-15
   days on market $549,000 Active 125 DOM
5. 2026-06-13
   days on market $549,000 Active 123 DOM
6. 2026-06-12
   days on market $549,000 Active 122 DOM
7. 2026-06-09
   days on market $549,000 Active 119 DOM
8. 2026-06-08
   days on market $549,000 Active 118 DOM
9. 2026-06-07
   days on market $549,000 Active 117 DOM
10. 2026-06-07
    days on market $549,000 Active 116 DOM
11. 2026-06-04
    days on market $549,000 Active 113 DOM
12. 2026-06-02
    days on market $549,000 Active 112 DOM
13. 2026-06-01
    days on market $549,000 Active 111 DOM
14. 2026-05-31
    days on market $549,000 Active 110 DOM
15. 2026-02-10
    listed $549,000 Active
16. 2025-10-28
    historical Withdrawn/Temp Off Market 553-char remark

    Show marketing remark (553 chars)

    Welcome to your perfect shore getaway! Walking distance to beautiful North Wildwood beaches and restaurants. Beautiful ocean view from deck. Fully furnished and ready for you to turn the key to your new home down the shore! This 2 bedroom one and half bath condo features dual decks for enjoying the views of both the ocean and the gorgeous pool facility. Ready for your personal touches and in excellent condition both in and out. This remarkable property is what you have been looking for and will go quickly as the season is upon us for summer fun!

17. 2025-09-24
    status Active 553-char remark

    Show marketing remark (553 chars)

    Welcome to your perfect shore getaway! Walking distance to beautiful North Wildwood beaches and restaurants. Beautiful ocean view from deck. Fully furnished and ready for you to turn the key to your new home down the shore! This 2 bedroom one and half bath condo features dual decks for enjoying the views of both the ocean and the gorgeous pool facility. Ready for your personal touches and in excellent condition both in and out. This remarkable property is what you have been looking for and will go quickly as the season is upon us for summer fun!

18. 2025-08-19
    historical Under Contract Con/Show 553-char remark

    Show marketing remark (553 chars)

    Welcome to your perfect shore getaway! Walking distance to beautiful North Wildwood beaches and restaurants. Beautiful ocean view from deck. Fully furnished and ready for you to turn the key to your new home down the shore! This 2 bedroom one and half bath condo features dual decks for enjoying the views of both the ocean and the gorgeous pool facility. Ready for your personal touches and in excellent condition both in and out. This remarkable property is what you have been looking for and will go quickly as the season is upon us for summer fun!

19. 2025-05-07
    listed $549,000 Active 553-char remark

    Show marketing remark (553 chars)

    Welcome to your perfect shore getaway! Walking distance to beautiful North Wildwood beaches and restaurants. Beautiful ocean view from deck. Fully furnished and ready for you to turn the key to your new home down the shore! This 2 bedroom one and half bath condo features dual decks for enjoying the views of both the ocean and the gorgeous pool facility. Ready for your personal touches and in excellent condition both in and out. This remarkable property is what you have been looking for and will go quickly as the season is upon us for summer fun!

20. 1998-03-10
    soldstatus $61,000

ⓘ 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: $3,725 · $310/mo
• Projected year-2 tax: $8,697 · $725/mo
• Expected delta: +$4,973/yr (+$414/mo · 133.5%)

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

Taxation est. · year 1

• Rental income: $156,000
• − Mortgage interest: −$30,753
• − Property taxes: −$3,725
• − Insurance: −$2,745
• − Repairs & maintenance: −$12,480
• − Management: −$12,480
• − HOA: −$3,300
• − Depreciation: −$15,971
• Taxable income: $74,547
• Est. tax owed @ 24.0%: −$17,891
• After-tax cash flow: $61,031/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: North Wildwood School District
• NCES district ID: 3411670
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $45,310
• Composite: 44.38/100
• National rank: #6123
• State rank: #396 of 612 in NJ

Livability — North Wildwood

• Score: 68/100
• State rank: #318
• US rank: #9827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North 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

+800.0% since first listed

6 events — show timeline

• 2026-02-10 Listed $549,000 CMCMLS
• 2025-10-28 Delisted — CMCMLS
• 2025-09-24 Relisted — CMCMLS
• 2025-08-19 Contingent — CMCMLS
• 2025-05-07 Listed $549,000 CMCMLS
• 1998-03-10 Sold (Public Records) $61,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $3,725 · +2.1% YoY. Source: county tax records.