820 Ocean Ave #201 · Ocean City, NJ 08226

$339,900

1 bd · 1.0 ba · 565 sqft · Condo · 443 Days on market

Good condition $602/sqft · 6% below area Est $362k · 6% under $385/mo HOA · 5% of rent

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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
• ARV discount +10.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

"Biscayne Suites" Unit #201 - Remarkable investment property with consistent cash flow in a well-managed, well-funded building. Ocean City's only rooftop pool! Center City location puts you and your guests right in the middle of all the action. .. .beach, boardwalk, Asbury Avenue shopping all within ez walking distance. On-Site required front desk rental program ensures a hassle-free, "hands-off" management and investment property. 2024 gross income $24,288. 2025 gross income was $26,195. Unit #201 boasts new TV's in both the LR and BR and new LR furniture. #201 is an END UNIT which affords not only more square footage. .. .but added windows and light as well. An extra set of windows in both the living room and the bedroom. Spacious balcony. Being sold fully furnished and equipped. Shown by appointment, call front desk!

Key facts

• Extra set of windows
• Rooftop pool
• Spacious balcony

Tags

• ROOFTOP POOL
• CENTER CITY LOCATION
• EXTRA SET OF WINDOWS
• SPACIOUS BALCONY
• FULLY FURNISHED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $340k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $340k).
• Recommended offer: $299k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 3.3% in Ocean City — 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 80/100 on livability (#72 in NJ, #1,762 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, health & safety A+; Watch: housing D+, cost of living F.
• Ocean City School District (urban): math 31% / reading 53% proficiency, ranked #212 of 472 in NJ (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ocean City Primary School (math 54% / reading 42%, grade D, #299 of 1,303 statewide, top 23%, 280 students, 31% FRL); Ocean City Intermediate School (math 26% / reading 49%, grade F, #217 of 431 statewide, top 51%, 370 students, 27% FRL); Ocean City High School (math 33% / reading 63%, grade D, #117 of 399 statewide, top 30%, 1,215 students, 13% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: 618 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).
• At $7,800/mo this rent would consume 92% of the median local household income ($102k/yr) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 $95k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 443 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.

Recommended offer $299,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 443 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. 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. 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: 2.29% ✓
• Cap rate: 18.40%
• Cash-on-cash: 43.22%
• DSCR: 2.92
• GRM: 3.6

CMA / ARV

• ARV (median comp): $362,108
• List price: $339,900
• Delta: -6.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812-820 Ocean Ave #205	0.01mi	1/1.0	525 (-7%)	4mo	$315,000	$600	84
820 Ocean Ave #205	0.00mi	1/1.5	516 (-9%)	4mo	$315,000	$610	80
831--35 Atlantic Ave #209	0.14mi	1/1.0	532 (-6%)	5mo	$325,000	$611	80
1027 Ocean Ave #4	0.24mi	2/1.0 (+1)	564 (-0%)	5mo	$490,000	$869	80
1027 Ocean Ave #5	0.24mi	2/1.0 (+1)	546 (-3%)	4mo	$490,000	$897	75
901 Ocean Ave #201	0.11mi	1/1.0	637 (+13%)	1mo	$319,000	$501	73
853-71 Plymouth #19	0.24mi	1/1.0	625 (+11%)	1mo	$492,500	$788	70
921 Wesley Ave Unit A24	0.11mi	1/1.0	700 (+24%)	3mo	$289,999	$414	67
322 Boardwalk #1510	0.67mi	1/1.0	567 (+0%)	5mo	$572,000	$1,009	64
853-875 Plymouth Pl #10	0.25mi	1/1.0	448 (-21%)	3mo	$365,000	$815	61
875 Plymouth Pl #33	0.24mi	1/1.0	448 (-21%)	5mo	$400,000	$893	60
1500 Boardwalk #101	0.72mi	1/1.0	497 (-12%)	1mo	$665,000	$1,338	46

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: 40.1%
• Equity multiple: 2.72×
• Total profit: $163,609
• Equity at exit: $50,680

10-year hold

• IRR: 46.5%
• Equity multiple: 5.47×
• Total profit: $425,045
• Equity at exit: $29,388

Cash invested: $95,172 (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 →

Active competition Active MLS

• For sale now: 2 active · 1 under contract
• Median asking: $417,000 ($746/sqft)
• Median days on market: 182 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: -14.1% vs current asking $/sqft

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

ZIP-level market 08226

• Active inventory: 618
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $7,800 medium
• Mortgage (P&I): −$1,782
• Tax est. 1.5%: −$425 /mo · $5,098/yr
• Insurance: −$142
• HOA: −$385
• Vacancy / Maint / Mgmt: −$1,638
• Net cashflow: $3,428

Break-even live

Break-even rent $3,461

Max offer price $339,900

Occupancy floor 51%

Sensitivity live

Price	-10% $3,663	-5% $3,545	+0% $3,428	+5% $3,311	+10% $3,193
Rent	-10% $2,812	-5% $3,120	+0% $3,428	+5% $3,736	+10% $4,044
Rate	-1.0pp $3,599	-0.5pp $3,514	base $3,428	+0.5pp $3,340	+1.0pp $3,250

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: $84,975
• Closing costs: $10,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Bay Ave Unit 200 Ocean City, NJ	1.0	1.0	425	$7,800	$18.35	116d	1	0.83mi

HOA detail $385/mo · $4,620/yr condo

• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $339,900 Active 443 DOM
2. 2026-09-20
   days on market $339,900 Active 440 DOM
3. 2026-09-19
   days on market $339,900 Active 439 DOM
4. 2026-09-19
   days on market $339,900 Active 438 DOM
5. 2026-09-17
   days on market $339,900 Active 437 DOM
6. 2026-09-17
   days on market $339,900 Active 436 DOM
7. 2026-09-16
   days on market $339,900 Active 435 DOM
8. 2026-09-14
   days on market $339,900 Active 434 DOM
9. 2026-09-13
   days on market $339,900 Active 433 DOM
10. 2026-09-12
    days on market $339,900 Active 432 DOM
11. 2026-09-11
    days on market $339,900 Active 431 DOM
12. 2026-09-05
    days on market $339,900 Active 425 DOM
13. 2026-09-04
    days on market $339,900 Active 424 DOM
14. 2026-09-03
    days on market $339,900 Active 423 DOM
15. 2026-09-02
    days on market $339,900 Active 422 DOM
16. 2026-08-29
    days on market $339,900 Active 418 DOM
17. 2026-08-28
    days on market $339,900 Active 417 DOM
18. 2026-08-27
    days on market $339,900 Active 416 DOM
19. 2026-08-25
    days on market $339,900 Active 414 DOM
20. 2026-08-24
    days on market $339,900 Active 413 DOM
21. 2026-08-23
    days on market $339,900 Active 412 DOM
22. 2026-08-22
    days on market $339,900 Active 411 DOM
23. 2026-08-21
    days on market $339,900 Active 410 DOM
24. 2026-08-20
    days on market $339,900 Active 409 DOM
25. 2026-08-19
    days on market $339,900 Active 408 DOM
26. 2026-08-18
    days on market $339,900 Active 407 DOM
27. 2026-08-17
    days on market $339,900 Active 406 DOM
28. 2026-08-16
    days on market $339,900 Active 405 DOM
29. 2026-08-15
    days on market $339,900 Active 404 DOM
30. 2026-08-14
    days on market $339,900 Active 403 DOM
31. 2026-08-13
    days on market $339,900 Active 402 DOM
32. 2026-08-12
    days on market $339,900 Active 401 DOM
33. 2026-08-11
    days on market $339,900 Active 400 DOM
34. 2026-08-10
    days on market $339,900 Active 399 DOM
35. 2026-08-09
    days on market $339,900 Active 398 DOM
36. 2026-08-08
    days on market $339,900 Active 397 DOM
37. 2026-08-07
    days on market $339,900 Active 396 DOM
38. 2026-08-06
    days on market $339,900 Active 395 DOM
39. 2026-08-05
    days on market $339,900 Active 394 DOM
40. 2026-08-04
    days on market $339,900 Active 393 DOM
41. 2026-08-03
    days on market $339,900 Active 392 DOM
42. 2026-07-31
    days on market $339,900 Active 389 DOM
43. 2026-07-29
    days on market $339,900 Active 387 DOM
44. 2026-07-27
    days on market $339,900 Active 385 DOM
45. 2026-07-25
    days on market $339,900 Active 383 DOM
46. 2026-07-24
    days on market $339,900 Active 382 DOM
47. 2026-07-23
    days on market $339,900 Active 381 DOM
48. 2026-07-22
    days on market $339,900 Active 380 DOM
49. 2026-07-21
    days on market $339,900 Active 379 DOM
50. 2026-07-20
    days on market $339,900 Active 378 DOM

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

Taxation est. · year 1

• Rental income: $93,600
• − Mortgage interest: −$19,040
• − Property taxes: −$5,098
• − Insurance: −$1,700
• − Repairs & maintenance: −$7,488
• − Management: −$7,488
• − HOA: −$4,620
• − Depreciation: −$9,888
• Taxable income: $38,278
• Est. tax owed @ 24.0%: −$9,187
• After-tax cash flow: $31,950/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $2,825–$8,475 screening

This Biscayne Suites unit is in good condition with minimal repairs needed. It offers a good investment opportunity with a well-maintained exterior and interior, and a rooftop pool. New flooring and painting would significantly enhance its value.

Value-add opportunities

• Both New flooring — New flooring can enhance the overall appearance and feel of the unit, improving both resale and rental value. ↑
• Both Painting interior walls — Fresh paint can make the unit feel more modern and appealing to potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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.

F Composite school gradezoned avg 45/100

Zoned Schools

Elementary Ocean City Primary School D NJ #299/1,303 Nat'l #14,226/41,679 Middle Ocean City Intermediate School F NJ #217/431 Nat'l #6,708/14,009 High Ocean City High School D NJ #117/399 Nat'l #6,224/17,239

Schools (NCES district)

• District: Ocean City School District
• NCES district ID: 3411970
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $60,444
• Composite: 37.07/100
• National rank: #4506
• State rank: #212 of 472 in NJ

A Composite livability gradescore 80/100

Livability — Ocean City

• Score: 80/100
• State rank: #72
• US rank: #1762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, NJ
• County: Cape May · 88,234 people
• City population: 11,260
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 11,260
• Household income: $101,782
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Black 2% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Russian/Polish/Slavic 2% Other Indo-European 2%

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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: ▼ -381.90%
• Current HPI: 389.3687
• 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

Price history

-0.8% since first listed

2 events — show timeline

• 2025-11-06 Price Changed $339,900 SJSRMLS
• 2025-07-07 Listed $342,500 SJSRMLS