2424 Trenwith Ter · Atlantic City, NJ 08401

$170,000

3 bd · 2.0 ba · 942 sqft · SingleFamily public records · 135 Days on market

Built 1910

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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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey investment opportunity in Atlantic City with a long-term tenant paying $1,300/month ($15,600 annually). This 3-bedroom, 2 full bath home features a highly desirable first-floor bedroom and full bath, ideal for added convenience and rental appeal. Main level also offers a living room and eat-in kitchen, with two additional bedrooms and a second full bath upstairs. Includes front porch, rear patio, and basement storage. Low annual utilities (water $323, sewer $605) create strong cash flow with approximately $12,417 net income. Immediate income-producing property perfect for investors. Interior photos coming soon.

Key facts

• Living room
• Eat in kitchen
• Front porch

Tags

• FIRST FLOOR BEDROOM
• FULL BATH
• LIVING ROOM
• EAT IN KITCHEN
• FRONT PORCH
• REAR PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.7% in Atlantic 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 55/100 on livability (#525 in NJ) — a working-class tenant base; expect higher turnover. Strengths: health & safety A; Watch: commute D, schools F, crime F.
• Atlantic City School District (urban): math 9% / reading 26% proficiency, ranked #454 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 482 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $2,245/mo this rent would consume 66% of the median local household income ($41k/yr) (locally 3414% 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.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $145k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1910 — 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F 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?
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: 1.32% ✓
• Cap rate: 10.69%
• Cash-on-cash: 15.72%
• DSCR: 1.70
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $111,156
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2403 Aliantro Ter	0.03mi	3/1.0	1,056 (+12%)	20mo	$125,000	$118	58
2522 Arctic #RR A Ave	0.18mi	3/1.0	810 (-14%)	12mo	$150,000	$185	54
1812 Bishop Richard Allen Ave Ave	0.66mi	3/1.0	1,064 (+13%)	20mo	$99,000	$93	28

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 · 5.52% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-8,891
• Equity at exit: $25,348

10-year hold

• IRR: 8.3%
• Equity multiple: 1.73×
• Total profit: $34,763
• Equity at exit: $14,698

Cash invested: $47,600 (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 08401

• Home prices YoY: -7.0%
• Rents YoY: 5.5%
• Active inventory: 482
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$891
• Tax from tax record: −$188 /mo · $2,254/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $197

Break-even live

Break-even rent $1,996

Max offer price $170,000

Occupancy floor 86%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Italy Ter Atlantic City, NJ	3.0	1.0	1000	$2,300	$2.30	21d	1	0.24mi
1724 Atlantic Ave Unit B2 Atlantic City, NJ	2.0	1.0	750	$1,495	$1.99	21d	1	0.54mi
1724 Atlantic Ave Unit A1 Atlantic City, NJ	3.0	1.0	950	$2,300	$2.42	21d	1	0.54mi
1710 Atlantic Ave Apt A Atlantic City, NJ	2.0	1.0	600	$4,500	$7.50	21d	1	0.56mi
38 N Boston Ave Unit B Atlantic City, NJ	2.0	2.0	800	$2,400	$3.00	13d	1	0.65mi
2021 Grant Ave Atlantic City, NJ	3.0	1.0	1011	$2,350	$2.32	21d	1	0.80mi
2015 Grant Ave Atlantic City, NJ	3.0	1.0	1056	$2,325	$2.20	21d	1	0.80mi
3636 Winchester Ave Atlantic City, NJ	3.0	1.0	1094	$1,995	$1.82	21d	1	0.81mi
905 Keener Ave Atlantic City, NJ	3.0	1.0	1059	$1,900	$1.79	21d	1	0.82mi
108 Lincoln Pl Apt A4 Atlantic City, NJ	2.0	1.0	800	$5,000	$6.25	21d	1	0.91mi
3851 Boardwalk Atlantic City, NJ	2.0	1.0–2.0	785	$27,500	$35.03	21d	5	0.92mi
21 S Windsor Ave Unit b1 Atlantic City, NJ	2.0	1.0	640	$1,650	$2.58	13d	1	1.08mi
31 N Virginia Ave Atlantic City, NJ	3.0	1.0	725	$2,230	$3.08	13d	1	1.14mi
101 S Raleigh Ave Atlantic City, NJ	2.0	1.0	735	$18,750	$25.51	13d	7	1.17mi
1510 N Arkansas Ave Atlantic City, NJ	3.0	2.0	1008	$2,750	$2.73	13d	1	1.19mi
1523 N Arkansas Ave Atlantic City, NJ	3.0	2.0	984	$2,500	$2.54	21d	1	1.23mi
848 Pacific Ave Unit 1014254P Atlantic City, NJ	1.0–2.0	2.0–3.0	1243	$2,413	$1.94	13d	2	1.26mi
1914 N Missouri Ave Atlantic City, NJ	2.0	1.0	750	$1,795	$2.39	21d	1	1.38mi

Listing history 21 events

1. 2026-06-19
   days on market $170,000 Active 135 DOM
2. 2026-06-18
   days on market $170,000 Active 134 DOM
3. 2026-06-17
   days on market $170,000 Active 133 DOM
4. 2026-06-16
   days on market $170,000 Active 132 DOM
5. 2026-06-15
   days on market $170,000 Active 131 DOM
6. 2026-06-14
   days on market $170,000 Active 129 DOM
7. 2026-06-13
   days on market $170,000 Active 128 DOM
8. 2026-06-10
   days on market $170,000 Active 126 DOM
9. 2026-06-09
   days on market $170,000 Active 125 DOM
10. 2026-06-08
    days on market $170,000 Active 124 DOM
11. 2026-06-07
    days on market $170,000 Active 123 DOM
12. 2026-06-02
    days on market $170,000 Active 118 DOM
13. 2026-06-01
    days on market $170,000 Active 117 DOM
14. 2026-05-31
    days on market $170,000 Active 116 DOM
15. 2026-05-30
    days on market $170,000 Active 115 DOM
16. 2026-02-04
    listed $170,000 Active 626-char remark

    Show marketing remark (626 chars)

    Turnkey investment opportunity in Atlantic City with a long-term tenant paying $1,300/month ($15,600 annually). This 3-bedroom, 2 full bath home features a highly desirable first-floor bedroom and full bath, ideal for added convenience and rental appeal. Main level also offers a living room and eat-in kitchen, with two additional bedrooms and a second full bath upstairs. Includes front porch, rear patio, and basement storage. Low annual utilities (water $323, sewer $605) create strong cash flow with approximately $12,417 net income. Immediate income-producing property perfect for investors. Interior photos coming soon.

17. 2020-10-31
    historical 554-char remark

    Show marketing remark (554 chars)

    * * * Investment opportunity * * * Long term tenant in place paying $1050 per month $12,600 per year. Beautiful 3 bedroom, 2 full bath home in Atlantic City. Home features a living room, eat-in kitchen with one full bath & bedroom on the main floor. Upstairs features 2 bedrooms and the second full bath. There is a cute patio area around back and a lovely front porch. You also have basement access for storage. Water: $262.44 a year Sewerage: $588.54 Check out the Video Tour below https://youtu. be/6UppmSqpLok Net income: $9,956.23

18. 2020-09-14
    historical Under Contract - Continue to Show 554-char remark

    Show marketing remark (554 chars)

    * * * Investment opportunity * * * Long term tenant in place paying $1050 per month $12,600 per year. Beautiful 3 bedroom, 2 full bath home in Atlantic City. Home features a living room, eat-in kitchen with one full bath & bedroom on the main floor. Upstairs features 2 bedrooms and the second full bath. There is a cute patio area around back and a lovely front porch. You also have basement access for storage. Water: $262.44 a year Sewerage: $588.54 Check out the Video Tour below https://youtu. be/6UppmSqpLok Net income: $9,956.23

19. 2020-08-10
    listed $79,900 Active 554-char remark

    Show marketing remark (554 chars)

    * * * Investment opportunity * * * Long term tenant in place paying $1050 per month $12,600 per year. Beautiful 3 bedroom, 2 full bath home in Atlantic City. Home features a living room, eat-in kitchen with one full bath & bedroom on the main floor. Upstairs features 2 bedrooms and the second full bath. There is a cute patio area around back and a lovely front porch. You also have basement access for storage. Water: $262.44 a year Sewerage: $588.54 Check out the Video Tour below https://youtu. be/6UppmSqpLok Net income: $9,956.23

20. 2006-11-09
    soldstatus $145,000
21. 1993-05-24
    soldstatus $48,000

ⓘ 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: $2,254 · $188/mo
• Projected year-2 tax: $3,244 · $270/mo
• Expected delta: +$989/yr (+$82/mo · 43.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,941
• − Mortgage interest: −$9,523
• − Property taxes: −$2,254
• − Insurance: −$5,968
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − Depreciation: −$4,945
• Taxable loss: −$60
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $2,377/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: Atlantic City School District
• NCES district ID: 3400960
• Math proficiency: 9% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $27,842
• Composite: 13.66/100
• National rank: #9504
• State rank: #454 of 472 in NJ

Livability — Atlantic City

• Score: 55/100
• State rank: #525
• US rank: #23095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic City, NJ
• County: Atlantic County · 143,611 people
• City population: 38,925
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 38,925
• Household income: $41,126
• Rent vs Own: 69.8% rent · 30.2% own
• Severe rent burden: 3414.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Hispanic / Latino 32% Black 32% Asian 16% White 16% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 8% Dominican 8%
• Common ancestry: Romanian 1% Scotch-Irish 1%
• Foreign-born: 29% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 30% Other Indo-European 8% 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: ▼ -26.82%
• Current HPI: 353.7827
• Rent YoY: ▲ 5.52%
• 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

+254.2% since first listed

6 events — show timeline

• 2026-02-04 Listed $170,000 SJSRMLS
• 2020-10-31 Listing Removed — SJSRMLS
• 2020-09-14 Contingent — SJSRMLS
• 2020-08-10 Listed $79,900 SJSRMLS
• 2006-11-09 Sold (Public Records) $145,000 Public Records
• 1993-05-24 Sold (Public Records) $48,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $2,254 · -2.1% YoY. Source: county tax records.