205 N New York Ave #B · Atlantic City, NJ 08401

$119,900

2 bd · 1.0 ba · 728 sqft · Condo public records · 43 Days on market

Built 1985 $242/mo HOA · 13% 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 +29.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

INVESTOR ALERT: Updated 2BR/1BA Condo in Atlantic City! Bright, move-in ready second-floor unit featuring modern flooring, fresh paint, and stainless steel appliances with granite countertops. Updated bathroom and comfortable layouts. Prime Location: Steps from the Beach, Boardwalk, Stockton University, and Casinos. Perfect for a rental or vacation retreat. Turn-key and ready for your portfolio… $1800 potential monthly rental income and low taxes! schedule a showing today!

Key facts

• $242 HOA
• Built 1985
• Listed 42 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 8 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 $1,822/mo this rent would consume 53% 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 $829 of loan paydown is wiped out by about $4k 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 + 5.5% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $120k implies a 191% gain — meaningful room to come down on a strong offer.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.52% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.47%
• DSCR: 1.69
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.52% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.39×
• Total profit: $13,006
• Equity at exit: $17,877

10-year hold

• IRR: 21.0%
• Equity multiple: 3.02×
• Total profit: $67,837
• Equity at exit: $10,367

Cash invested: $33,572 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,822 high
• Mortgage (P&I): −$629
• Tax from tax record: −$86 /mo · $1,031/yr
• Insurance: −$50
• HOA: −$242
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $433

Break-even live

Break-even rent $1,274

Max offer price $119,900

Occupancy floor 71%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Atlantic Ave Apt A Atlantic City, NJ	2.0	1.0	600	$4,500	$7.50	21d	1	0.34mi
1724 Atlantic Ave Unit B2 Atlantic City, NJ	2.0	1.0	750	$1,495	$1.99	21d	1	0.35mi
31 N Virginia Ave Atlantic City, NJ	3.0	1.0	725	$1,998	$2.76	13d	1	0.41mi
143 S South Carolina Ave Apt A4 Atlantic City, NJ	1.0	1.0	450	$1,500	$3.33	21d	1	0.49mi
325 Atlantic Ave Unit 3 Atlantic City, NJ	2.0	1.0	660	$1,675	$2.54	21d	1	0.85mi
2834 Atlantic Ave Atlantic City, NJ	1.0	1.0	639	$1,675	$2.62	21d	3	1.10mi
101 Boardwalk Atlantic City, NJ	2.0	1.0	645	$2,700	$4.18	13d	3	1.11mi
1914 N Missouri Ave Atlantic City, NJ	2.0	1.0	750	$1,795	$2.39	21d	1	1.39mi

HOA detail condo

• Monthly dues: $242 · $2,904/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-19
   days on market $119,900 Active 43 DOM
2. 2026-06-18
   days on market $119,900 Active 42 DOM
3. 2026-06-17
   days on market $119,900 Active 41 DOM
4. 2026-06-16
   days on market $119,900 Active 40 DOM
5. 2026-06-15
   days on market $119,900 Active 39 DOM
6. 2026-06-14
   pricedays on market $119,900 Active 37 DOM
7. 2026-06-13
   days on market $129,900 Active 36 DOM
8. 2026-06-10
   days on market $129,900 Active 34 DOM
9. 2026-06-09
   days on market $129,900 Active 33 DOM
10. 2026-06-08
    days on market $129,900 Active 32 DOM
11. 2026-06-07
    days on market $129,900 Active 31 DOM
12. 2026-06-02
    days on market $129,900 Active 26 DOM
13. 2026-06-01
    days on market $129,900 Active 25 DOM
14. 2026-05-31
    days on market $129,900 Active 24 DOM
15. 2026-05-30
    days on market $129,900 Active 23 DOM
16. 2026-05-07
    listed $129,900 Active 484-char remark

    Show marketing remark (484 chars)

    INVESTOR ALERT: Updated 2BR/1BA Condo in Atlantic City! Bright, move-in ready second-floor unit featuring modern flooring, fresh paint, and stainless steel appliances with granite countertops. Updated bathroom and comfortable layouts. Prime Location: Steps from the Beach, Boardwalk, Stockton University, and Casinos. Perfect for a rental or vacation retreat. Turn-key and ready for your portfolio… $1800 potential monthly rental income and low taxes! schedule a showing today!

17. 2026-04-09
    historical 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

18. 2026-03-18
    price $134,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

19. 2026-03-18
    price $144,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

20. 2026-02-17
    price $134,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

21. 2026-01-29
    price $144,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

22. 2026-01-03
    price $139,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

23. 2025-09-11
    price $144,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

24. 2025-08-02
    price $149,900 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

25. 2025-07-26
    listed $159,900 Active 264-char remark

    Show marketing remark (264 chars)

    This is refreshing condo with 2 Bedrooms and 1 bath with Fresh paint, new refrigerator, Microwave, cabinets Granite Top, Electric Stove, flooring with great location close the beach, Boardwalk, Casino and Atlantic Community College and much more. Ready to move in.

26. 2016-10-01
    historical
27. 2016-03-17
    listed $28,000 Active
28. 2015-11-21
    historical
29. 2014-11-24
    listed $37,500 Active
30. 1989-02-21
    soldstatus $41,200

ⓘ 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: $1,031 · $86/mo
• Projected year-2 tax: $2,008 · $167/mo
• Expected delta: +$977/yr (+$81/mo · 94.8%)

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

Taxation est. · year 1

• Rental income: $21,864
• − Mortgage interest: −$6,716
• − Property taxes: −$1,031
• − Insurance: −$600
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − HOA: −$2,904
• − Depreciation: −$3,488
• Taxable income: $3,627
• Est. tax owed @ 24.0%: −$871
• After-tax cash flow: $4,323/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

+215.3% since first listed

15 events — show timeline

• 2026-05-07 Listed $129,900 SJSRMLS
• 2026-04-09 Listing Removed — SJSRMLS
• 2026-03-18 Price Changed $134,900 SJSRMLS
• 2026-03-18 Price Changed $144,900 SJSRMLS
• 2026-02-17 Price Changed $134,900 SJSRMLS
• 2026-01-29 Price Changed $144,900 SJSRMLS
• 2026-01-03 Price Changed $139,900 SJSRMLS
• 2025-09-11 Price Changed $144,900 SJSRMLS
• 2025-08-02 Price Changed $149,900 SJSRMLS
• 2025-07-26 Listed $159,900 SJSRMLS
• 2016-10-01 Listing Removed — SJSRMLS
• 2016-03-17 Listed $28,000 SJSRMLS
• 2015-11-21 Listing Removed — SJSRMLS
• 2014-11-24 Listed $37,500 SJSRMLS
• 1989-02-21 Sold (Public Records) $41,200 Public Records

Property tax history

-11.5%/yr

Latest (2025): $1,031 · -2.1% YoY. Source: county tax records.