14 L Atlantic Ave #12 · Ocean City, NJ 08226

$854,900

3 bd · 2.5 ba · 1,446 sqft · Condo public records · 108 Days on market

Built 1981 $591/sqft · 30% below area Est $1226k · 30% under $539/mo HOA · 7% of rent

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Ocean City’s desirable Northend, this spacious 3-bedroom, 2.5-bath two-story townhouse with 2 off street dedicated parking spots just one block to the beach and close to shopping and dining. Newly renovated and fully furnished open concept living, dining, and kitchen area. Dining area seats 10, complete with a large center island and full-size appliances. Second living area has sliding wall panels that provide flexible conversion to a fourth bedroom or home office when desired. Large Master bedroom has ensuite bath and his and hers closets. Kitchen and baths fully renovated, Pergo flooring installed downstairs, upstairs fully carpeted, large owners closet on second floor. Central air with ceiling fans in every room, full size washer and dryer, and select accessibility features including grab bars and stair lift. The stair lift can be removed at buyer's request. Attic space for additional storage. Being sold fully furnished, (with exclusions noted in agent remarks), this property presents a turnkey opportunity as a primary residence, second home, or investment property in a prime shore locations.

Key facts

• Open concept living
• Large center island
• Full size appliances

Tags

• TWO STORY HOME
• OPEN CONCEPT LIVING
• LARGE CENTER ISLAND
• GAS STOVE
• FULL SIZE APPLIANCES
• FLEXIBLE FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $855k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $750k (12.3% below list).
• Recommended offer: $750k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Market conditions: 419 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k of loan paydown is wiped out by about $26k 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.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($778k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $345k; list at $855k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $749,928 (12.3% below list)

Questions for the listing agent

1. It's been on market 108 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: 0.88% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (median comp): $1,225,578
• List price: $854,900
• Delta: -30.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-126,349
• Equity at exit: $127,468

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-94,321
• Equity at exit: $73,916

Cash invested: $239,372 (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 08226

• Active inventory: 419
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $7,499 medium
• Mortgage (P&I): −$4,483
• Tax from tax record: −$355 /mo · $4,258/yr
• Insurance: −$356
• HOA: −$539
• Vacancy / Maint / Mgmt: −$1,575
• Net cashflow: $191

Break-even live

Break-even rent $7,257

Max offer price $854,900

Occupancy floor 92%

Sensitivity live

Price	-10% $675	-5% $433	+0% $191	+5% $-51	+10% $-293
Rent	-10% $-401	-5% $-105	+0% $191	+5% $487	+10% $784
Rate	-1.0pp $622	-0.5pp $409	base $191	+0.5pp $-30	+1.0pp $-256

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: $213,725
• Closing costs: $25,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Battersea Rd Unit 1309016P Ocean City, NJ	3.0	2.0	1291	$8,042	$6.23	44d	1	0.09mi
101 West Ave Unit 1309011P Ocean City, NJ	3.0	1.0	990	$5,019	$5.07	44d	1	0.29mi
935 Ocean Ave Ocean City, NJ	1.0–3.0	1.0–2.5	1112	$8,500	$7.64	44d	1	1.00mi
1142 Simpson Ave Unit 1308992P Ocean City, NJ	3.0	2.0	1097	$7,788	$7.10	44d	1	1.30mi

HOA detail condo

• Monthly dues: $539 · $6,468/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $854,900 Under Contract 108 DOM
2. 2026-06-17
   days on market $854,900 Under Contract 107 DOM
3. 2026-06-16
   days on market $854,900 Under Contract 106 DOM
4. 2026-06-15
   days on market $854,900 Under Contract 105 DOM
5. 2026-06-13
   days on market $854,900 Under Contract 103 DOM
6. 2026-06-12
   days on market $854,900 Under Contract 102 DOM
7. 2026-06-09
   days on market $854,900 Under Contract 99 DOM
8. 2026-06-08
   days on market $854,900 Under Contract 98 DOM
9. 2026-06-07
   days on market $854,900 Under Contract 97 DOM
10. 2026-06-07
    days on market $854,900 Under Contract 96 DOM
11. 2026-06-04
    days on market $854,900 Under Contract 93 DOM
12. 2026-06-02
    days on market $854,900 Under Contract 92 DOM
13. 2026-06-01
    days on market $854,900 Under Contract 91 DOM
14. 2026-05-31
    days on market $854,900 Under Contract 90 DOM
15. 2026-05-02
    historical Under Contract 1129-char remark

    Show marketing remark (1129 chars)

    Located in Ocean City’s desirable Northend, this spacious 3-bedroom, 2.5-bath two-story townhouse with 2 off street dedicated parking spots just one block to the beach and close to shopping and dining. Newly renovated and fully furnished open concept living, dining, and kitchen area. Dining area seats 10, complete with a large center island and full-size appliances. Second living area has sliding wall panels that provide flexible conversion to a fourth bedroom or home office when desired. Large Master bedroom has ensuite bath and his and hers closets. Kitchen and baths fully renovated, Pergo flooring installed downstairs, upstairs fully carpeted, large owners closet on second floor. Central air with ceiling fans in every room, full size washer and dryer, and select accessibility features including grab bars and stair lift. The stair lift can be removed at buyer's request. Attic space for additional storage. Being sold fully furnished, (with exclusions noted in agent remarks), this property presents a turnkey opportunity as a primary residence, second home, or investment property in a prime shore locations.

16. 2026-03-25
    price $854,900 1129-char remark

    Show marketing remark (1129 chars)

    Located in Ocean City’s desirable Northend, this spacious 3-bedroom, 2.5-bath two-story townhouse with 2 off street dedicated parking spots just one block to the beach and close to shopping and dining. Newly renovated and fully furnished open concept living, dining, and kitchen area. Dining area seats 10, complete with a large center island and full-size appliances. Second living area has sliding wall panels that provide flexible conversion to a fourth bedroom or home office when desired. Large Master bedroom has ensuite bath and his and hers closets. Kitchen and baths fully renovated, Pergo flooring installed downstairs, upstairs fully carpeted, large owners closet on second floor. Central air with ceiling fans in every room, full size washer and dryer, and select accessibility features including grab bars and stair lift. The stair lift can be removed at buyer's request. Attic space for additional storage. Being sold fully furnished, (with exclusions noted in agent remarks), this property presents a turnkey opportunity as a primary residence, second home, or investment property in a prime shore locations.

17. 2026-03-02
    listed $879,900 Active 1129-char remark

    Show marketing remark (1129 chars)

    Located in Ocean City’s desirable Northend, this spacious 3-bedroom, 2.5-bath two-story townhouse with 2 off street dedicated parking spots just one block to the beach and close to shopping and dining. Newly renovated and fully furnished open concept living, dining, and kitchen area. Dining area seats 10, complete with a large center island and full-size appliances. Second living area has sliding wall panels that provide flexible conversion to a fourth bedroom or home office when desired. Large Master bedroom has ensuite bath and his and hers closets. Kitchen and baths fully renovated, Pergo flooring installed downstairs, upstairs fully carpeted, large owners closet on second floor. Central air with ceiling fans in every room, full size washer and dryer, and select accessibility features including grab bars and stair lift. The stair lift can be removed at buyer's request. Attic space for additional storage. Being sold fully furnished, (with exclusions noted in agent remarks), this property presents a turnkey opportunity as a primary residence, second home, or investment property in a prime shore locations.

18. 2010-12-13
    soldstatus $345,000
19. 2010-12-13
    soldstatus $345,000
20. 2009-04-30
    soldstatus $325,000
21. 2002-05-29
    soldstatus $289,900
22. 2002-04-04
    soldstatus $240,000
23. 1994-02-02
    soldstatus $114,500
24. 1987-05-21
    soldstatus $109,500

ⓘ 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: $4,258 · $355/mo
• Projected year-2 tax: $12,773 · $1,064/mo
• Expected delta: +$8,514/yr (+$710/mo · 199.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥98°F today · 17 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,991
• − Mortgage interest: −$47,888
• − Property taxes: −$4,258
• − Insurance: −$4,274
• − Repairs & maintenance: −$7,199
• − Management: −$7,199
• − HOA: −$6,468
• − Depreciation: −$24,870
• Taxable loss: −$12,166
• Est. tax savings @ 24.0%: +$2,920
• After-tax cash flow: $5,214/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: 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

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
• City population: 11,260
• Population (ZIP): 11,260

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 (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%

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

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

+680.7% since first listed

10 events — show timeline

• 2026-05-02 Contingent — SJSRMLS
• 2026-03-25 Price Changed $854,900 SJSRMLS
• 2026-03-02 Listed $879,900 SJSRMLS
• 2010-12-13 Sold (Public Records) $345,000 Public Records
• 2010-12-13 Sold (Public Records) $345,000 Public Records
• 2009-04-30 Sold (Public Records) $325,000 Public Records
• 2002-05-29 Sold (Public Records) $289,900 Public Records
• 2002-04-04 Sold (Public Records) $240,000 Public Records
• 1994-02-02 Sold (Public Records) $114,500 Public Records
• 1987-05-21 Sold (Public Records) $109,500 Public Records

Property tax history

+2.5%/yr

Latest (2025): $4,258 · +3.4% YoY. Source: county tax records.