403 E Glenwood Ave #16 · Wildwood, NJ 08260

$699,224

2 bd · 3.0 ba · 1,469 sqft · Condo · 188 Days on market

Built 2026 ↓ 18% since listing

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Why this score? — see what drove the D 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 +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• 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

Kay's Oasis A Beach Block Like No Other! New Construction Luxury Condominiums with Ocean Views located steps to the famous Wildwood Beach & Boardwalk. Private Roof Top Deck with private bathroom, Large Courtyard featuring Heated Pool, Kiddie Pool, Hot Tub with Multi-Purpose Room featuring kitchen area, refrigeration and rest room. Huge Pavilion off the multi-purpose room. Inspired as a dedication to honor the developers mother Kay Renz, these 3 bedrooms, 2.5 bath condominiums are being constructed with the highest quality. The units have a spacious living area with lighting, ceiling fan and fireplace included. There is a private 26-foot-wide deck off the living area. There is another private balcony from the primary bedroom that overlooks the courtyard and swimming pools. The custom kitchen includes quartz countertops, stainless steel appliances, lighting fixtures & backsplash. Laminate flooring throughout for easy upkeep. The Primary Bedroom has a private bath, large closets with the private balcony overlooking the courtyard. Central heating & air for year-round enjoyment, private two car garage with personal EV Charger, with additional parking on driveway, plenty of storage, enclosed outside shower, pet friendly for owners. Projected completion March 2026.

Key facts

• Private deck
• Hot tub
• Huge pavilion

Tags

• PRIVATE ROOF TOP DECK
• HEATED POOL
• HOT TUB
• MULTI-PURPOSE ROOM
• HUGE PAVILION
• PRIVATE DECK

Property features AI

Finance

• HOA & community: Condo fee of $1,082.69; Common storage facilities

Exterior

• Parking: Garage with automatic door opener for 2 cars; Concrete driveway
• Utilities: City water; City sewer; Gas hot water
• Home design: Condominium unit; Top-floor unit; Year-round use allowed; Owners allowed pets; Is new construction
• Construction: No construction details provided
• Exterior features: Deck/porch; Outside shower; Pool; Whirlpool/Spa; Clubhouse/clubroom; Water view; Pool view; Near beach & boardwalk

Interior

• Kitchen: Range; Self-cleaning oven; Microwave; Refrigerator; Dishwasher; Disposal
• Bedrooms: 2 bedrooms (top floor)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fan
• Interior features: Smoke/Fire detector; Cathedral ceiling; Kitchen center island; Storage space; Living room; Laundry/utility room; 9 total rooms
• Laundry & utility: Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $699k.

Deal economics

• At list price, monthly cash flow is $184 ($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 $635k (9.2% below list).
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.

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: Glenwood Avenue Elementary School (math 8% / reading 27%, grade F, #1,065 of 1,303 statewide, top 83%, 396 students, 89% FRL); 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 82% FRL track the district average.
• Market conditions: 435 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $5k of loan paydown is wiped out by about $21k 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 188 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $100k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $615,317 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. 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?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 9.2

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-101,513
• Equity at exit: $104,257

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-72,947
• Equity at exit: $60,456

Cash invested: $195,783 (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: 435
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $6,349 medium
• Mortgage (P&I): −$3,667
• Tax est. 1.5%: −$874 /mo · $10,488/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,333
• Net cashflow: $184

Break-even live

Break-even rent $6,117

Max offer price $699,224

Occupancy floor 92%

Sensitivity live

Price	-10% $667	-5% $425	+0% $184	+5% $-58	+10% $-300
Rent	-10% $-318	-5% $-67	+0% $184	+5% $434	+10% $685
Rate	-1.0pp $536	-0.5pp $361	base $184	+0.5pp $2	+1.0pp $-182

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: $174,806
• Closing costs: $20,977
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	45d	1	0.48mi
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	45d	1	0.63mi
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	45d	1	1.23mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-07
   statusdays on market $699,224 Under Contract 188 DOM
2. 2026-06-04
   days on market $699,224 Active 187 DOM
3. 2026-06-02
   days on market $699,224 Active 186 DOM
4. 2026-06-01
   days on market $699,224 Active 185 DOM
5. 2026-05-31
   days on market $699,224 Active 184 DOM
6. 2026-05-21
   price $699,224
7. 2026-05-06
   price $774,224
8. 2025-11-28
   historical Withdrawn/Temp Off Market 1296-char remark

   Show marketing remark (1296 chars)

   Kay's Oasis A Beach Block Like No Other! New Construction Luxury Condominiums with Ocean Views located steps to the famous Wildwood Beach & Boardwalk. Private Roof Top Deck with private bathroom, Large Courtyard featuring Heated Pool, Kiddie Pool, Hot Tub with Multi-Purpose Room featuring kitchen area, refrigeration and rest room. Huge Pavilion off the multi-purpose room. Inspired as a dedication to honor the developers mother Kay Renz, these 3 bedrooms, 2.5 bath condominiums are being constructed with the highest quality. The units have a spacious living area with lighting, ceiling fan and fireplace included. There is a private 26-foot-wide deck off the living area. There is another private balcony from the primary bedroom that overlooks the courtyard and swimming pools. The custom kitchen includes quartz countertops, stainless steel appliances, lighting fixtures & backsplash. Laminate flooring throughout for easy upkeep. The Primary Bedroom has a private bath, large closets with the private balcony overlooking the courtyard. Central heating & air for year-round enjoyment, private two car garage with personal EV Charger, with additional parking on driveway, plenty of storage, enclosed outside shower, pet friendly for owners. Projected completion March 2026.

9. 2025-11-28
   listed $799,224 Active

   Show marketing remark (1296 chars)

   Kay's Oasis A Beach Block Like No Other! New Construction Luxury Condominiums with Ocean Views located steps to the famous Wildwood Beach & Boardwalk. Private Roof Top Deck with private bathroom, Large Courtyard featuring Heated Pool, Kiddie Pool, Hot Tub with Multi-Purpose Room featuring kitchen area, refrigeration and rest room. Huge Pavilion off the multi-purpose room. Inspired as a dedication to honor the developers mother Kay Renz, these 3 bedrooms, 2.5 bath condominiums are being constructed with the highest quality. The units have a spacious living area with lighting, ceiling fan and fireplace included. There is a private 26-foot-wide deck off the living area. There is another private balcony from the primary bedroom that overlooks the courtyard and swimming pools. The custom kitchen includes quartz countertops, stainless steel appliances, lighting fixtures & backsplash. Laminate flooring throughout for easy upkeep. The Primary Bedroom has a private bath, large closets with the private balcony overlooking the courtyard. Central heating & air for year-round enjoyment, private two car garage with personal EV Charger, with additional parking on driveway, plenty of storage, enclosed outside shower, pet friendly for owners. Projected completion March 2026.

10. 2025-09-19
    price $799,224 1296-char remark

    Show marketing remark (1296 chars)

    Kay's Oasis A Beach Block Like No Other! New Construction Luxury Condominiums with Ocean Views located steps to the famous Wildwood Beach & Boardwalk. Private Roof Top Deck with private bathroom, Large Courtyard featuring Heated Pool, Kiddie Pool, Hot Tub with Multi-Purpose Room featuring kitchen area, refrigeration and rest room. Huge Pavilion off the multi-purpose room. Inspired as a dedication to honor the developers mother Kay Renz, these 3 bedrooms, 2.5 bath condominiums are being constructed with the highest quality. The units have a spacious living area with lighting, ceiling fan and fireplace included. There is a private 26-foot-wide deck off the living area. There is another private balcony from the primary bedroom that overlooks the courtyard and swimming pools. The custom kitchen includes quartz countertops, stainless steel appliances, lighting fixtures & backsplash. Laminate flooring throughout for easy upkeep. The Primary Bedroom has a private bath, large closets with the private balcony overlooking the courtyard. Central heating & air for year-round enjoyment, private two car garage with personal EV Charger, with additional parking on driveway, plenty of storage, enclosed outside shower, pet friendly for owners. Projected completion March 2026.

11. 2024-11-16
    listed $849,224 Active 1296-char remark

    Show marketing remark (1296 chars)

    Kay's Oasis A Beach Block Like No Other! New Construction Luxury Condominiums with Ocean Views located steps to the famous Wildwood Beach & Boardwalk. Private Roof Top Deck with private bathroom, Large Courtyard featuring Heated Pool, Kiddie Pool, Hot Tub with Multi-Purpose Room featuring kitchen area, refrigeration and rest room. Huge Pavilion off the multi-purpose room. Inspired as a dedication to honor the developers mother Kay Renz, these 3 bedrooms, 2.5 bath condominiums are being constructed with the highest quality. The units have a spacious living area with lighting, ceiling fan and fireplace included. There is a private 26-foot-wide deck off the living area. There is another private balcony from the primary bedroom that overlooks the courtyard and swimming pools. The custom kitchen includes quartz countertops, stainless steel appliances, lighting fixtures & backsplash. Laminate flooring throughout for easy upkeep. The Primary Bedroom has a private bath, large closets with the private balcony overlooking the courtyard. Central heating & air for year-round enjoyment, private two car garage with personal EV Charger, with additional parking on driveway, plenty of storage, enclosed outside shower, pet friendly for owners. Projected completion March 2026.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $76,189
• − Mortgage interest: −$39,167
• − Property taxes: −$10,488
• − Insurance: −$3,496
• − Repairs & maintenance: −$6,095
• − Management: −$6,095
• − Depreciation: −$20,341
• Taxable loss: −$9,494
• Est. tax savings @ 24.0%: +$2,279
• After-tax cash flow: $4,482/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

-17.7% since first listed

6 events — show timeline

• 2026-05-21 Price Changed $699,224 CMCMLS
• 2026-05-06 Price Changed $774,224 CMCMLS
• 2025-11-28 Delisted — CMCMLS
• 2025-11-28 Listed $799,224 CMCMLS
• 2025-09-19 Price Changed $799,224 CMCMLS
• 2024-11-16 Listed $849,224 CMCMLS