109 E Aster Rd #201 · Wildwood Crest, NJ 08260

$599,777

2 bd · 2.0 ba · 1,042 sqft · Townhouse public records · 13 Days on market

Built 1910 Est $610k · at est.

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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).

• Cash flow +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +8.2/15.0
• 1% rule +5.8/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

109 Aster Road Unit 201 is located on the 2nd and 3rd floors of the magnificently restored Aster Inn. The Aster Inn is a diamond in Wildwood Crest and resembles all the properties located throughout Cape May without the high price tag. This unit offers a huge wrap around mahogany porch with views of the 40ft pool and wonderfully manicured gardens. There's a spacious living room with a gas fireplace. The modern kitchen features stainless appliances and new ceramic tile backsplash. The master bedroom on the 2nd floor offers spacious and comfort sleeping. The 3rd floor offers sleeping for 4 and has vaulted ceilings with and attic fan for comfortable tempature control. This unit offers plenty of additional sitting space for reading. The Aster Inn is centrally located and only 2 blocks to the beach, 2.5 blocks to the bay, and a short drive to North Wildwood's world famous bar and dinning district. The pictures of this unit speak for themselves. Call today to schedule an appointment. Condo Fee includes: Liability/Homeowners Insurance, Flood Insurance, Common area gas for outdoor grill, common area electric, water, sewer, pool related expenses, annual budget is $20,000.00 and association keeps 10% in reserves. Excellent financial association. Unit 2013 Expenses: Electric $800.00 year, Gas $130.00 year, Cable with high speed internet $1,000.00 year. Owners have minimal owners insurance policy for contents, and $300.00 subscription to VRBO.com for rentals. Rentals 2013- Unit Grossed 12,085 with only 60% of weeks rented, owners used other weeks. 2014 already committed rentals are over $16,000.00, 6/14 – 6/18 $900, 6/21 – 6/28 $1475, 6.28 – 7/6 $1950, 7.6 – 7.13 $1700, 7.13 – 7.19 $1625, 7.19 – 7.26 $1725 7.26 – 8.3 $1950, 8.3 – 8.10 $1725, 8.16 – 8.23 $1725, 8.30 – 9.6 $1700

Key facts

• Eat in kitchen
• Central air and heat
• Gas fireplace

Tags

• EXTRA LARGE POOL
• WOODEN WRAP AROUND PORCH
• EAT IN KITCHEN
• GAS FIREPLACE
• CENTRAL AIR AND HEAT
• OUTDOOR LIVING

Property features AI

Finance

• Other: Property listed for sale
• HOA & community: Condo fee of $484.87 (HOA)

Exterior

• Utilities: City water; City sewer; Gas hot water
• Home design: Condominium unit (Unit 201); Year-round usage
• Exterior features: Enclosed/covered porch; Pool (community); Cable TV available; Pool view; Corner unit; Near beach and bay (about 3 blocks)

Interior

• Kitchen: Oven; Microwave; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: 2 bedrooms
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Living room; Eat-in kitchen; Pantry; Storage space; Drapes, curtains, and blinds included; Furniture included; 7 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $600k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $600k).
• Cap rate 9.0% vs local median 2.7% in Wildwood Crest — 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 70/100 on livability (#257 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities C-, commute F, cost of living F.
• Wildwood Crest Borough School District (suburban): math 35% / reading 45% proficiency, ranked #493 of 612 in NJ (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 431 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 $4k of loan paydown is wiped out by about $18k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $255k; list at $600k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $599,777

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $609,570
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5510 Pacific Ave Unit A	0.20mi	3/2.0 (+1)	990 (-5%)	2mo	$600,000	$606	76
5201 Ocean Ave #5007	0.46mi	2/1.0	1,050 (+1%)	4mo	$510,000	$486	70
5301 Ocean Ave #305	0.43mi	1/1.0 (-1)	1,050 (+1%)	7mo	$414,500	$395	64
5501 Atlantic Ave #208	0.33mi	2/2.0	1,166 (+12%)	3mo	$682,500	$585	62
6109 Atlantic Ave #402	0.28mi	2/2.0	910 (-13%)	9mo	$535,000	$588	59
7010 #D Park Blvd Ste D	0.54mi	2/2.0	1,152 (+11%)	1mo	$989,971	$859	56
225 E Davis Ave Unit F	0.75mi	3/2.0 (+1)	1,041 (-0%)	9mo	$500,000	$480	53
410 E Orchid Rd #202	0.71mi	3/2.0 (+1)	1,100 (+6%)	7mo	$752,000	$684	46
213 E Hand Ave #8	0.50mi	3/1.5 (+1)	1,160 (+11%)	9mo	$410,000	$353	43
4712 Atlantic Ave #104	0.63mi	3/2.0 (+1)	1,170 (+12%)	9mo	$570,000	$487	38
404 W Burk Ave Unit B	0.73mi	3/2.0 (+1)	1,180 (+13%)	4mo	$510,000	$432	36
322 W Tacony Rd Unit B	0.74mi	2/1.0	900 (-14%)	5mo	$630,777	$701	35

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-13,966
• Equity at exit: $89,429

10-year hold

• IRR: 7.5%
• Equity multiple: 1.56×
• Total profit: $94,731
• Equity at exit: $51,858

Cash invested: $167,938 (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: 431
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $6,500 medium
• Mortgage (P&I): −$3,145
• Tax from tax record: −$365 /mo · $4,380/yr
• Insurance: −$250
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,365
• Net cashflow: $1,308

Break-even live

Break-even rent $4,844

Max offer price $599,777

Occupancy floor 75%

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: $149,944
• Closing costs: $17,993
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	44d	1	0.87mi
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	44d	1	0.88mi
206 W Spencer Ave Wildwood, NJ	2.0	1.0	750	$2,000	$2.67	44d	1	0.94mi
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	44d	1	1.07mi

Listing history 11 events

1. 2026-06-18
   days on market $599,777 Active 13 DOM
2. 2026-06-17
   days on market $599,777 Active 12 DOM
3. 2026-06-16
   days on market $599,777 Active 11 DOM
4. 2026-06-15
   days on market $599,777 Active 10 DOM
5. 2026-06-13
   days on market $599,777 Active 8 DOM
6. 2026-06-12
   days on market $599,777 Active 7 DOM
7. 2026-06-09
   days on market $599,777 Active 4 DOM
8. 2026-06-08
   days on market $599,777 Active 3 DOM
9. 2026-06-07
   days on market $599,777 Active 2 DOM
10. 2026-06-07
    remarks 689-char remark
11. 2026-06-07
    listed $599,777 Active 1 DOM

ⓘ 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: $4,380 · $365/mo
• Projected year-2 tax: $9,657 · $805/mo
• Expected delta: +$5,277/yr (+$440/mo · 120.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 94% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 19 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: $77,998
• − Mortgage interest: −$33,597
• − Property taxes: −$4,380
• − Insurance: −$3,796
• − Repairs & maintenance: −$6,240
• − Management: −$6,240
• − Depreciation: −$17,448
• Taxable income: $6,297
• Est. tax owed @ 24.0%: −$1,511
• After-tax cash flow: $14,187/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 Crest Borough School District
• NCES district ID: 3417970
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $55,087
• Composite: 37.39/100
• National rank: #8922
• State rank: #493 of 612 in NJ

Livability — Wildwood Crest

• Score: 70/100
• State rank: #257
• US rank: #7359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood Crest, 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

+76.5% since first listed

7 events — show timeline

• 2026-06-05 Listed $599,777 CMCMLS
• 2014-10-17 Sold (Public Records) $255,000 Public Records
• 2014-09-30 Sold (MLS) $255,000 CMCMLS
• 2014-04-09 Listed $289,900 CMCMLS
• 2011-06-21 Sold (Public Records) $305,000 Public Records
• 2011-06-14 Sold (MLS) $305,000 CMCMLS
• 2011-03-26 Listed $339,900 CMCMLS

Property tax history

+2.1%/yr

Latest (2025): $4,380 · +1.4% YoY. Source: county tax records.