703 N Dudley Ave #1203 · Ventnor City, NJ 08406

$159,988

1 bd · 1.0 ba · 628 sqft · Condo public records · 147 Days on market

Built 1965 $255/sqft · 25% above area Est $164k · at est. $599/mo HOA · 19% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.5/15.0
• Rent growth +5.0/5.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CAPTIVATING, SPACIOUS, RENOVATED UNIT AT THE DREAM BAY! 805 Sq Ft. This lovely one bedroom, one bath features refinished hardwood floors, Italian tiles newer kitchen, newer bath and more! Freshly painted, new blinds, new lighting fixtures! JUST MOVE-IN AND ENJOY! Terrace with garden view. Stack-able washer/dryer, gas in unit. Lots of closets! First floor. Perfect for first-time home buyers, a beach getaway or for investment! Call today!

Key facts

• Newer kitchen
• Italian tiles
• Newer bath

Tags

• RENOVATED UNIT
• REFINISHED HARDWOOD FLOORS
• ITALIAN TILES
• NEWER KITCHEN
• NEWER BATH
• TERRACE WITH GARDEN VIEW

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 4.1% in Ventnor 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 72/100 on livability (#202 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-, crime B+; Watch: schools C-, amenities F, cost of living F.
• Ventnor City School District (suburban): math 27% / reading 49% proficiency, ranked #266 of 472 in NJ (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+57.3%/yr); 155 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $3,084/mo this rent would consume 54% of the median local household income ($69k/yr) (locally 329% of renters already pay >50% of income on rent) — 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $160k implies a 167% gain — meaningful room to come down on a strong offer.

Recommended offer $140,789 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.93% ✓
• Cap rate: 12.64%
• Cash-on-cash: 22.66%
• DSCR: 2.01
• GRM: 4.3

CMA / ARV

• ARV (median comp): $163,567
• List price: $159,988
• Delta: -2.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.5%
• Equity multiple: 2.00×
• Total profit: $44,595
• Equity at exit: $23,855

10-year hold

• IRR: 34.2%
• Equity multiple: 5.10×
• Total profit: $183,780
• Equity at exit: $13,833

Cash invested: $44,797 (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 08406

• Home prices YoY: -33.3%
• Rents YoY: 57.3%
• Active inventory: 155
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $3,084 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$67
• HOA: −$599
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $846

Break-even live

Break-even rent $2,013

Max offer price $159,988

Occupancy floor 68%

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: $39,997
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 N Dorset Ave Unit 1309019P Ventnor City, NJ	1.0	1.0	645	$3,457	$5.36	13d	1	0.49mi
16 N Sacramento Ave Unit 2 Ventnor City, NJ	1.0	1.0	625	$1,600	$2.56	43d	1	0.72mi
101 S Victoria Ave Unit B1 Ventnor City, NJ	1.0	1.0	550	$2,100	$3.82	13d	1	0.92mi
21 S Windsor Ave Unit b1 Atlantic City, NJ	2.0	1.0	640	$1,650	$2.58	13d	1	1.34mi
101 S Raleigh Ave Atlantic City, NJ	2.0	1.0	735	$10,125	$13.78	13d	7	1.36mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-19
   days on market $159,988 Active 147 DOM
2. 2026-06-18
   days on market $159,988 Active 146 DOM
3. 2026-06-17
   days on market $159,988 Active 145 DOM
4. 2026-06-16
   days on market $159,988 Active 144 DOM
5. 2026-06-15
   days on market $159,988 Active 143 DOM
6. 2026-06-14
   days on market $159,988 Active 141 DOM
7. 2026-06-13
   days on market $159,988 Active 140 DOM
8. 2026-06-10
   days on market $159,988 Active 138 DOM
9. 2026-06-09
   days on market $159,988 Active 137 DOM
10. 2026-06-08
    days on market $159,988 Active 136 DOM
11. 2026-06-07
    days on market $159,988 Active 135 DOM
12. 2026-06-03
    days on market $159,988 Active 131 DOM
13. 2026-06-02
    days on market $159,988 Active 130 DOM
14. 2026-06-01
    days on market $159,988 Active 129 DOM
15. 2026-05-31
    days on market $159,988 Active 128 DOM
16. 2026-05-30
    days on market $159,988 Active 127 DOM
17. 2026-01-23
    listed $159,988 Active 440-char remark

    Show marketing remark (440 chars)

    CAPTIVATING, SPACIOUS, RENOVATED UNIT AT THE DREAM BAY! 805 Sq Ft. This lovely one bedroom, one bath features refinished hardwood floors, Italian tiles newer kitchen, newer bath and more! Freshly painted, new blinds, new lighting fixtures! JUST MOVE-IN AND ENJOY! Terrace with garden view. Stack-able washer/dryer, gas in unit. Lots of closets! First floor. Perfect for first-time home buyers, a beach getaway or for investment! Call today!

18. 2022-07-08
    soldstatus $60,000
19. 1988-12-05
    soldstatus $61,500

ⓘ 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: $1,025 · $85/mo
• Projected year-2 tax: $2,504 · $209/mo
• Expected delta: +$1,479/yr (+$123/mo · 144.3%)

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

Taxation est. · year 1

• Rental income: $37,003
• − Mortgage interest: −$8,962
• − Property taxes: −$1,025
• − Insurance: −$800
• − Repairs & maintenance: −$2,960
• − Management: −$2,960
• − HOA: −$7,188
• − Depreciation: −$4,654
• Taxable income: $8,454
• Est. tax owed @ 24.0%: −$2,029
• After-tax cash flow: $8,123/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: Ventnor City School District
• NCES district ID: 3416680
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $52,220
• Composite: 32.96/100
• National rank: #5588
• State rank: #266 of 472 in NJ

Livability — Ventnor City

• Score: 72/100
• State rank: #202
• US rank: #5716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ventnor City, NJ
• County: Atlantic County · 143,611 people
• City population: 8,972
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 8,972
• Household income: $69,099
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 329.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Asian 9% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Iranian 2%
• Foreign-born: 21% · Canada, Jamaica, Vietnam
• Languages at home: 76% English-only · Spanish 10% Other Indo-European 5% Vietnamese 3%

Political lean MEDSL · Atlantic

• 2024 margin: Toss-up / Even · D 47.7% · R 50.7% · Other 1.6%
• 2008→2024 swing: -18.1pp toward R · 2008: 15.1pp · 2024: -3.0pp
• All cycles: 2024: R+3.0 2020: D+6.7 2016: D+6.2 2012: D+17.2 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.99%
• Current HPI: 449.3494
• Rent YoY: ▲ 57.28%
• Metro: Atlantic City-Hammonton, NJ
• 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

+160.1% since first listed

3 events — show timeline

• 2026-01-23 Listed $159,988 SJSRMLS
• 2022-07-08 Sold (Public Records) $60,000 Public Records
• 1988-12-05 Sold (Public Records) $61,500 Public Records

Property tax history

-4.1%/yr

Latest (2025): $1,025 · +3.3% YoY. Source: county tax records.