421 W Bennett Ave #4 · Wildwood, NJ 08260

$529,900

3 bd · 2.0 ba · 1,166 sqft · Condo public records · 240 Days on market

Built 1985 $167/mo HOA · 2% 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained Wildwood condo in a great location. The unit features a good size Living Room, Dining Area, Modern Kitchen with plenty of cabinets, dishwasher, electric stove and refrigerator. Also three bedrooms and 2 baths and a full attic that can be additional living space!! The Waters Edge Condos are one block to the marina, restaurants, charter fishing and sight-seer boats.

Key facts

• One block to marina
• Waters edge condos
• Wildwood condo

Tags

• WILDWOOD CONDO
• MODERN KITCHEN
• FULL ATTIC
• WATERS EDGE CONDOS
• ONE BLOCK TO MARINA

Property features AI

Finance

• HOA & community: HOA fee $2,000 annually

Exterior

• Parking: Attached front-entry garage with inside access and garage door opener; Built-in garage (1 attached garage space); Asphalt driveway with one driveway space; On-street parking; Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers and 100 amp service; Electric hot water
• Home design: Condominium unit; Garden-style building (1–4 floors); Unit/flat structure; Entry on floor 1
• Construction: Frame construction with fiberglass siding; Shingle roof; Built above grade; Finished above-grade area per assessor
• Exterior features: Wood fencing; Located in a federal flood zone; Suburban setting

Interior

• Kitchen: Microwave; Electric oven/range; Refrigerator; Breakfast area / efficiency kitchen
• Bedrooms: Three bedrooms on the main level; Rooms include Living Room, Bedroom 2, Bedroom 3
• Flooring: Carpet
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (electric); Central air conditioning
• Interior features: Attic; Tub shower and stall shower; Breakfast area; Combination kitchen and living area; Traditional floor plan; Efficiency kitchen; Ceiling fans; Window treatments; Partially furnished; One common shared wall
• Laundry & utility: Washer in unit; Dryer in unit (electric); Washer/dryer hookups in unit; Water heater (electric)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $530k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $530k).
• Recommended offer: $466k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 5.6% in 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 74/100 on livability (#176 in NJ, #4,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, crime F, cost of living F.
• Wildwood City School District (suburban): math 12% / reading 27% proficiency, ranked #442 of 472 in NJ (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wildwood Middle School (math 12% / reading 22%, grade F, #409 of 431 statewide, top 95%, 172 students, 87% FRL); Wildwood High School (math 22% / reading 47%, grade F, #239 of 399 statewide, top 61%, 263 students, 69% FRL) — zoned schools at 78% FRL track the district average.
• Market conditions: 436 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $4k of loan paydown is wiped out by about $16k 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 $148k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($466k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $87k; list at $530k implies a 509% gain — meaningful room to come down on a strong offer.

Recommended offer $466,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 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 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 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: 1.41% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.29%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.9%
• Equity multiple: 1.39×
• Total profit: $58,232
• Equity at exit: $79,010

10-year hold

• IRR: 19.1%
• Equity multiple: 2.59×
• Total profit: $236,550
• Equity at exit: $45,816

Cash invested: $148,372 (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 08260

• Home prices YoY: -30.7%
• Active inventory: 436
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $7,482 medium
• Mortgage (P&I): −$2,779
• Tax from tax record: −$483 /mo · $5,801/yr
• Insurance: −$221
• HOA: −$167
• Vacancy / Maint / Mgmt: −$1,571
• Net cashflow: $2,261

Break-even live

Break-even rent $4,620

Max offer price $529,900

Occupancy floor 65%

Sensitivity live

Price	-10% $2,561	-5% $2,411	+0% $2,261	+5% $2,111	+10% $1,961
Rent	-10% $1,670	-5% $1,965	+0% $2,261	+5% $2,556	+10% $2,852
Rate	-1.0pp $2,528	-0.5pp $2,396	base $2,261	+0.5pp $2,124	+1.0pp $1,984

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: $132,475
• Closing costs: $15,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	45d	1	0.40mi
206 W Spencer Ave Wildwood, NJ	2.0	1.0	750	$2,000	$2.67	45d	1	0.62mi
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	45d	1	0.69mi
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	45d	1	0.84mi

HOA detail condo

• Monthly dues: $167 · $2,004/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $529,900 Active 240 DOM
2. 2026-06-21
   days on market $529,900 Active 239 DOM
3. 2026-06-18
   days on market $529,900 Active 237 DOM
4. 2026-06-17
   days on market $529,900 Active 236 DOM
5. 2026-06-16
   days on market $529,900 Active 235 DOM
6. 2026-06-15
   days on market $529,900 Active 234 DOM
7. 2026-06-13
   days on market $529,900 Active 232 DOM
8. 2026-06-12
   days on market $529,900 Active 231 DOM
9. 2026-06-09
   days on market $529,900 Active 228 DOM
10. 2026-06-08
    days on market $529,900 Active 227 DOM
11. 2026-06-07
    days on market $529,900 Active 226 DOM
12. 2026-06-07
    days on market $529,900 Active 225 DOM
13. 2026-06-04
    days on market $529,900 Active 222 DOM
14. 2026-06-02
    days on market $529,900 Active 221 DOM
15. 2026-06-01
    days on market $529,900 Active 220 DOM
16. 2026-05-31
    days on market $529,900 Active 219 DOM
17. 2026-04-30
    price $529,900
18. 2026-01-16
    price $559,900 382-char remark

    Show marketing remark (382 chars)

    Well maintained Wildwood condo in a great location. The unit features a good size Living Room, Dining Area, Modern Kitchen with plenty of cabinets, dishwasher, electric stove and refrigerator. Also three bedrooms and 2 baths and a full attic that can be additional living space!! The Waters Edge Condos are one block to the marina, restaurants, charter fishing and sight-seer boats.

19. 2026-01-16
    price $559,900

    Show marketing remark (382 chars)

    Well maintained Wildwood condo in a great location. The unit features a good size Living Room, Dining Area, Modern Kitchen with plenty of cabinets, dishwasher, electric stove and refrigerator. Also three bedrooms and 2 baths and a full attic that can be additional living space!! The Waters Edge Condos are one block to the marina, restaurants, charter fishing and sight-seer boats.

20. 2025-11-24
    listed $589,900 Active 382-char remark

    Show marketing remark (382 chars)

    Well maintained Wildwood condo in a great location. The unit features a good size Living Room, Dining Area, Modern Kitchen with plenty of cabinets, dishwasher, electric stove and refrigerator. Also three bedrooms and 2 baths and a full attic that can be additional living space!! The Waters Edge Condos are one block to the marina, restaurants, charter fishing and sight-seer boats.

21. 2025-10-24
    listed $589,900 Active
22. 1993-08-02
    soldstatus $87,000

ⓘ 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: $5,801 · $483/mo
• Projected year-2 tax: $9,498 · $791/mo
• Expected delta: +$3,697/yr (+$308/mo · 63.7%)

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

Taxation est. · year 1

• Rental income: $89,786
• − Mortgage interest: −$29,683
• − Property taxes: −$5,801
• − Insurance: −$2,650
• − Repairs & maintenance: −$7,183
• − Management: −$7,183
• − HOA: −$2,004
• − Depreciation: −$15,415
• Taxable income: $19,867
• Est. tax owed @ 24.0%: −$4,768
• After-tax cash flow: $22,362/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: Wildwood City School District
• NCES district ID: 3417940
• Math proficiency: 12% ▼ -6.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $33,232
• Composite: 15.84/100
• National rank: #9261
• State rank: #442 of 472 in NJ

Livability — Wildwood

• Score: 74/100
• State rank: #176
• US rank: #4679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood, NJ
• Population (ZIP): 12,913

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 12% Other Indo-European 3% French/Haitian/Cajun 1%

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: ▼ -243.83%
• Current HPI: 551.3393
• 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

+509.1% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $529,900 BRIGHT MLS
• 2026-01-16 Price Changed $559,900 CMCMLS
• 2026-01-16 Price Changed $559,900 BRIGHT MLS
• 2025-11-24 Listed $589,900 CMCMLS
• 2025-10-24 Listed $589,900 BRIGHT MLS
• 1993-08-02 Sold (Public Records) $87,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $5,801 · +2.8% YoY. Source: county tax records.