119 N Brunswick Ave · Margate City, NJ 08402

$2,299,000

5 bd · 4.0 ba · 2,500 sqft · Land · 10 Days on market

Built 2026 $920/sqft · 65% above area

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.6/30.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Luxury new construction situated on a beautiful lot in Margate’s highly desirable Down Beach Section. Taking full advantage of elevation 14 design, this stunning custom property offers full-size garage, large storage area, amazing outside entertaining, oasis like rear yard, complete with large veranda flowing into a huge paver patio along with multiple sun-drenched entertaining decks. Interior features include: 2.5 levels of luxury highlighting a 3 stop elevator, open floor plan concept with upgraded chef kitchen featuring huge island for casual dining, flowing seamlessly into a large open dining area and adjacent to A wonderful family great room, with an abundance of natural light flowing in. Second floor accomplices 3 en’suites with the master suite boasting a fully customize bath complete with large walk-in shower with custom tiles and frameless glass surround, true walk in closet and private deck. Third level includes 2 additional large bedrooms with a full bath complete with designer fixtures, tile and bathing tub. Seller reserves the right to modify/change plans with no notice.

Key facts

• Large storage area
• Oasis like rear yard
• Large veranda

Tags

• NEW CONSTRUCTION
• FULL-SIZE GARAGE
• LARGE STORAGE AREA
• OASIS LIKE REAR YARD
• LARGE VERANDA
• HUGE PAVER PATIO

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath land listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $-5k ($-58k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.59M (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.40M (39.0% below list).
• Recommended offer: $1.40M (39.0% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 7.4% in Margate City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Margate City School District (suburban): math 50% / reading 58% proficiency, ranked #113 of 472 in NJ (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $14,026/mo this rent would consume 138% of the median local household income ($122k/yr) (locally 23% 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 $16k of loan paydown is wiped out by about $69k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $650k; list at $2.30M implies a 254% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,402,593 (39.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.61% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 13.7

CMA / ARV

• ARV (median comp): $1,396,093
• List price: $2,299,000
• Delta: 57.58%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -27.1%
• Equity multiple: 0.05×
• Total profit: $-608,578
• Equity at exit: $342,788

10-year hold

• IRR: -13.0%
• Equity multiple: 0.08×
• Total profit: $-591,258
• Equity at exit: $198,776

Cash invested: $643,720 (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 08402

• Rents YoY: 8.9%
• Active inventory: 147
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $14,026 medium
• Mortgage (P&I): −$12,056
• Tax est. 1.5%: −$2,874 /mo · $34,485/yr
• Insurance: −$958
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,945
• Net cashflow: $-4,874

Break-even live

Break-even rent $20,195

Max offer price $1,593,747

Occupancy floor —

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: $574,750
• Closing costs: $68,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 N Belmont Ave Margate City, NJ	5.0	3.5	3200	$35,000	$10.94	21d	1	0.05mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	13d	1	0.06mi
107 N Douglas Ave Unit AUGUST Margate City, NJ	5.0	3.5	2312	$33,000	$14.27	21d	1	0.14mi
107 N Douglas Ave Margate City, NJ	5.0	3.5	2312	$36,000	$15.57	44d	1	0.14mi
7611 Ventnor Ave Margate City, NJ	6.0	4.0	2717	$34,000	$12.51	21d	1	0.23mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	44d	1	0.34mi
7103 Ventnor Ave Ventnor City, NJ	4.0	3.0	2288	$5,500	$2.40	13d	1	0.39mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	21d	1	0.43mi
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	21d	1	0.51mi
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	44d	1	0.75mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	13d	1	0.80mi
204 N Union Ave Margate City, NJ	5.0	4.0	2393	$5,000	$2.09	44d	1	1.03mi
9411 Winchester Ave Margate City, NJ	5.0	3.5	2776	$11,500	$4.14	44d	1	1.33mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	21d	1	1.33mi

Listing history 22 events

1. 2026-06-19
   days on market $2,299,000 Active 10 DOM
2. 2026-06-18
   days on market $2,299,000 Active 9 DOM
3. 2026-06-17
   days on market $2,299,000 Active 8 DOM
4. 2026-06-16
   days on market $2,299,000 Active 7 DOM
5. 2026-06-15
   days on market $2,299,000 Active 6 DOM
6. 2026-06-14
   days on market $2,299,000 Active 4 DOM
7. 2026-06-13
   days on market $2,299,000 Active 3 DOM
8. 2026-06-10
   pricedays on marketlisting id $2,299,000 Active 1 DOM
9. 2026-06-09
   days on market $2,200,000 Active 329 DOM
10. 2026-06-08
    days on market $2,200,000 Active 328 DOM
11. 2026-06-07
    days on market $2,200,000 Active 327 DOM
12. 2026-06-05
    days on market $2,200,000 Active 324 DOM
13. 2026-06-02
    days on market $2,200,000 Active 322 DOM
14. 2026-06-01
    days on market $2,200,000 Active 321 DOM
15. 2026-05-31
    days on market $2,200,000 Active 320 DOM
16. 2026-05-30
    days on market $2,200,000 Active 319 DOM
17. 2025-07-12
    listed $2,200,000 Active 1112-char remark

    Show marketing remark (1112 chars)

    Luxury new construction situated on a beautiful lot in Margate’s highly desirable Down Beach Section. Taking full advantage of elevation 14 design, this stunning custom property offers full-size garage, large storage area, amazing outside entertaining, oasis like rear yard, complete with large veranda flowing into a huge paver patio along with multiple sun-drenched entertaining decks. Interior features include: 2.5 levels of luxury highlighting a 3 stop elevator, open floor plan concept with upgraded chef kitchen featuring huge island for casual dining, flowing seamlessly into a large open dining area and adjacent to A wonderful family great room, with an abundance of natural light flowing in. Second floor accomplices 3 en’suites with the master suite boasting a fully customize bath complete with large walk-in shower with custom tiles and frameless glass surround, true walk in closet and private deck. Third level includes 2 additional large bedrooms with a full bath complete with designer fixtures, tile and bathing tub. Seller reserves the right to modify/change plans with no notice.

18. 2024-02-09
    soldstatus $650,000
19. 2024-01-19
    soldstatus $650,000 Sold 605-char remark

    Show marketing remark (605 chars)

    Among best opportunities in Margate! Either tear down and enjoy the consistent investment/speculation of all the other recent new construction on the block; or re-hab for yesteryear's nostalgic style and character. Either way. .. this will not last; and is being sold unconditionally AS-IS, with no representations/warranties of any kind from Seller or their RE Agent. (UST inspection paperwork (2019) provided on Paragon). In the heart of the “ABC” neighborhood. .this premium location is Only 4 blocks to Beach; and a mere short walk to Shopping, eateries and beginning of Boardwalk into AC!

20. 2023-12-31
    historical Under Contract 605-char remark

    Show marketing remark (605 chars)

    Among best opportunities in Margate! Either tear down and enjoy the consistent investment/speculation of all the other recent new construction on the block; or re-hab for yesteryear's nostalgic style and character. Either way. .. this will not last; and is being sold unconditionally AS-IS, with no representations/warranties of any kind from Seller or their RE Agent. (UST inspection paperwork (2019) provided on Paragon). In the heart of the “ABC” neighborhood. .this premium location is Only 4 blocks to Beach; and a mere short walk to Shopping, eateries and beginning of Boardwalk into AC!

21. 2023-12-26
    listed $699,500 Active 605-char remark

    Show marketing remark (605 chars)

    Among best opportunities in Margate! Either tear down and enjoy the consistent investment/speculation of all the other recent new construction on the block; or re-hab for yesteryear's nostalgic style and character. Either way. .. this will not last; and is being sold unconditionally AS-IS, with no representations/warranties of any kind from Seller or their RE Agent. (UST inspection paperwork (2019) provided on Paragon). In the heart of the “ABC” neighborhood. .this premium location is Only 4 blocks to Beach; and a mere short walk to Shopping, eateries and beginning of Boardwalk into AC!

22. 1969-06-26
    soldstatus $19,000

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥95°F today · 16 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: $168,311
• − Mortgage interest: −$128,780
• − Property taxes: −$34,485
• − Insurance: −$12,292
• − Repairs & maintenance: −$13,465
• − Management: −$13,465
• − Depreciation: −$66,880
• Taxable loss: −$101,056
• Est. tax savings @ 24.0%: +$24,253
• After-tax cash flow: $-34,233/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: Margate City School District
• NCES district ID: 3409690
• Math proficiency: 50% ▼ -26.00%
• Reading proficiency: 58% ▼ -28.00%
• Median HH income: $67,112
• Composite: 47.71/100
• National rank: #2241
• State rank: #113 of 472 in NJ

Livability — Margate City

• Score: 75/100
• State rank: #149
• US rank: #3893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margate City, NJ
• County: Atlantic County · 143,611 people
• City population: 5,234
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 5,234
• Household income: $121,800
• Rent vs Own: 10.0% rent · 90.0% own
• Severe rent burden: 23.0

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: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scotch-Irish 9% Romanian 6% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 2% Tagalog/Filipino 2% Spanish 1%

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: ▼ -625.70%
• Current HPI: 475.1366
• Rent YoY: ▲ 8.91%
• 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

+11478.9% since first listed

6 events — show timeline

• 2025-07-12 Listed $2,200,000 SJSRMLS
• 2024-02-09 Sold (Public Records) $650,000 Public Records
• 2024-01-19 Sold (MLS) $650,000 SJSRMLS
• 2023-12-31 Contingent — SJSRMLS
• 2023-12-26 Listed $699,500 SJSRMLS
• 1969-06-26 Sold (Public Records) $19,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $3,840 · -25.0% YoY. Source: county tax records.