623 W Spruce Ave · North Wildwood, NJ 08260-2557

$755,777

4 bd · 2.5 ba · 1,728 sqft · SingleFamily public records · 98 Days on market

Built 1930 Est $848k · 11% under

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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 +12.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 2 story home with beautiful sunset views from the front porch. The first floor features the living room, dining room, kitchen, family room, bedroom/office, full bathroom, powder, room and laundry closet. Heading up the stairs you will find three oversized bedrooms and full bathroom. Enjoy the cozy backyard while sitting around the firepit surrounded by beautiful gardens or relish your time on the covered front porch while viewing the amazing sunsets or spectacular fireworks. The prime location of this home allows you to enjoy the many local amenities. There is ample off-street parking as this home has 2 driveways. Call today to schedule an appointment. Don't miss the opportunity to call this home yours!

Key facts

• Covered front porch
• Large storage closet
• 2 drive ways

Tags

• COVERED FRONT PORCH
• QUIET FENCED-IN BACK YARD
• 2 DRIVE WAYS
• WATER VIEW
• GALLEY STYLE KITCHEN
• LARGE STORAGE CLOSET

Property features AI

Finance

• Other: Frontage: 35; Located 1 block from the bay and beaches

Exterior

• Parking: Parking for 3 cars; Concrete driveway; Stone driveway
• Utilities: City water; City sewer; Natural gas hot water
• Home design: Vinyl exterior; House color: buttercup; For sale
• Construction: Vinyl construction
• Exterior features: Front porch; Fenced yard; Cable TV available; Sidewalks

Interior

• Kitchen: Range; Oven; Microwave; Refrigerator; Dishwasher; Natural gas stove
• Bedrooms: 4 bedrooms (one is a first-floor master)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Baseboard heating; Hot water heating; Ceiling fan; Window air conditioning
• Interior features: Gas fireplace; Tile flooring; Vinyl flooring; Window treatments; Living room; Dining room; Recreation/Family room; Crawl space basement
• Laundry & utility: Washer; Dryer; Laundry closet; Smoke/Fire detector

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $756k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $756k).
• Recommended offer: $688k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: 1 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

• In year one you build about $28k of equity ($5k loan paydown + $23k appreciation (3.0% local appreciation)).
• 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 $212k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($688k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $65k; list at $756k implies a 1063% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $687,757 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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 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: 1.31% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $848,448
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
241 Seabreeze Ct	0.31mi	3/2.5 (-1)	1,520 (-12%)	2mo	$585,000	$385	59
208 New York Ave	0.55mi	4/2.5	1,900 (+10%)	3mo	$999,000	$526	55
219 W Chestnut Ave	0.45mi	4/2.0	1,476 (-15%)	16mo	$725,000	$491	39

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: 21.6%
• Equity multiple: 2.23×
• Total profit: $260,070
• Equity at exit: $339,830

10-year hold

• IRR: 22.7%
• Equity multiple: 4.26×
• Total profit: $689,382
• Equity at exit: $523,719

Cash invested: $211,618 (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 08260-2557

• Active inventory: 1
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $9,900 medium
• Mortgage (P&I): −$3,963
• Tax from tax record: −$464 /mo · $5,570/yr
• Insurance: −$315
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,079
• Net cashflow: $2,652

Break-even live

Break-even rent $6,543

Max offer price $755,777

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: $188,944
• Closing costs: $22,673
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Seaspray Ct Wildwood, NJ	3.0	2.5	1650	$9,900	$6.00	43d	1	0.21mi

Listing history 25 events

1. 2026-06-18
   days on market $755,777 Active 98 DOM
2. 2026-06-17
   days on market $755,777 Active 97 DOM
3. 2026-06-16
   days on market $755,777 Active 96 DOM
4. 2026-06-15
   days on market $755,777 Active 95 DOM
5. 2026-06-13
   days on market $755,777 Active 93 DOM
6. 2026-06-12
   days on market $755,777 Active 92 DOM
7. 2026-06-09
   days on market $755,777 Active 89 DOM
8. 2026-06-08
   days on market $755,777 Active 88 DOM
9. 2026-06-07
   days on market $755,777 Active 87 DOM
10. 2026-06-07
    days on market $755,777 Active 86 DOM
11. 2026-06-04
    days on market $755,777 Active 83 DOM
12. 2026-06-02
    days on market $755,777 Active 82 DOM
13. 2026-06-01
    days on market $755,777 Active 81 DOM
14. 2026-05-31
    days on market $755,777 Active 80 DOM
15. 2026-04-21
    price $755,777
16. 2026-03-12
    listed $775,777 Active
17. 2025-07-24
    historical Withdrawn/Release Listing 721-char remark

    Show marketing remark (721 chars)

    Charming 2 story home with beautiful sunset views from the front porch. The first floor features the living room, dining room, kitchen, family room, bedroom/office, full bathroom, powder, room and laundry closet. Heading up the stairs you will find three oversized bedrooms and full bathroom. Enjoy the cozy backyard while sitting around the firepit surrounded by beautiful gardens or relish your time on the covered front porch while viewing the amazing sunsets or spectacular fireworks. The prime location of this home allows you to enjoy the many local amenities. There is ample off-street parking as this home has 2 driveways. Call today to schedule an appointment. Don't miss the opportunity to call this home yours!

18. 2025-03-19
    price $795,000 721-char remark

    Show marketing remark (721 chars)

    Charming 2 story home with beautiful sunset views from the front porch. The first floor features the living room, dining room, kitchen, family room, bedroom/office, full bathroom, powder, room and laundry closet. Heading up the stairs you will find three oversized bedrooms and full bathroom. Enjoy the cozy backyard while sitting around the firepit surrounded by beautiful gardens or relish your time on the covered front porch while viewing the amazing sunsets or spectacular fireworks. The prime location of this home allows you to enjoy the many local amenities. There is ample off-street parking as this home has 2 driveways. Call today to schedule an appointment. Don't miss the opportunity to call this home yours!

19. 2025-03-01
    price $838,000 721-char remark

    Show marketing remark (721 chars)

    Charming 2 story home with beautiful sunset views from the front porch. The first floor features the living room, dining room, kitchen, family room, bedroom/office, full bathroom, powder, room and laundry closet. Heading up the stairs you will find three oversized bedrooms and full bathroom. Enjoy the cozy backyard while sitting around the firepit surrounded by beautiful gardens or relish your time on the covered front porch while viewing the amazing sunsets or spectacular fireworks. The prime location of this home allows you to enjoy the many local amenities. There is ample off-street parking as this home has 2 driveways. Call today to schedule an appointment. Don't miss the opportunity to call this home yours!

20. 2024-12-03
    price $849,000 721-char remark

    Show marketing remark (721 chars)

    Charming 2 story home with beautiful sunset views from the front porch. The first floor features the living room, dining room, kitchen, family room, bedroom/office, full bathroom, powder, room and laundry closet. Heading up the stairs you will find three oversized bedrooms and full bathroom. Enjoy the cozy backyard while sitting around the firepit surrounded by beautiful gardens or relish your time on the covered front porch while viewing the amazing sunsets or spectacular fireworks. The prime location of this home allows you to enjoy the many local amenities. There is ample off-street parking as this home has 2 driveways. Call today to schedule an appointment. Don't miss the opportunity to call this home yours!

21. 2024-11-04
    listed $869,000 Active 721-char remark

    Show marketing remark (721 chars)

    Charming 2 story home with beautiful sunset views from the front porch. The first floor features the living room, dining room, kitchen, family room, bedroom/office, full bathroom, powder, room and laundry closet. Heading up the stairs you will find three oversized bedrooms and full bathroom. Enjoy the cozy backyard while sitting around the firepit surrounded by beautiful gardens or relish your time on the covered front porch while viewing the amazing sunsets or spectacular fireworks. The prime location of this home allows you to enjoy the many local amenities. There is ample off-street parking as this home has 2 driveways. Call today to schedule an appointment. Don't miss the opportunity to call this home yours!

22. 1991-06-12
    soldstatus $65,000
23. 1989-04-28
    soldstatus $79,000
24. 1987-01-28
    soldstatus $62,000
25. 1979-11-15
    soldstatus $40,000

ⓘ 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: $5,570 · $464/mo
• Projected year-2 tax: $12,194 · $1,016/mo
• Expected delta: +$6,625/yr (+$552/mo · 118.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,800
• − Mortgage interest: −$42,335
• − Property taxes: −$5,570
• − Insurance: −$8,897
• − Repairs & maintenance: −$9,504
• − Management: −$9,504
• − Depreciation: −$21,986
• Taxable income: $21,003
• Est. tax owed @ 24.0%: −$5,041
• After-tax cash flow: $26,784/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 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%

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

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

+1789.4% since first listed

11 events — show timeline

• 2026-04-21 Price Changed $755,777 CMCMLS
• 2026-03-12 Listed $775,777 CMCMLS
• 2025-07-24 Delisted — CMCMLS
• 2025-03-19 Price Changed $795,000 CMCMLS
• 2025-03-01 Price Changed $838,000 CMCMLS
• 2024-12-03 Price Changed $849,000 CMCMLS
• 2024-11-04 Listed $869,000 CMCMLS
• 1991-06-12 Sold (Public Records) $65,000 Public Records
• 1989-04-28 Sold (Public Records) $79,000 Public Records
• 1987-01-28 Sold (Public Records) $62,000 Public Records
• 1979-11-15 Sold (Public Records) $40,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $5,570 · +2.1% YoY. Source: county tax records.