28 N Kenyon Ave · Margate City, NJ 08402

$1,279,000

4 bd · 2.5 ba · 1,890 sqft · SingleFamily public records · 166 Days on market

Built 1925 $677/sqft · 7% below area Est $1368k · 7% under

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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 +23.5/30.0
• ARV discount +10.4/15.0
• DSCR +7.6/10.0
• 1% rule +5.1/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming and original all-American Four-Square Beauty. Built in 1925, this timeless gem presents the perfect blend of classic charm and a fantastic proximity to the beach. This 4-bedroom, 2.5-bath home sits on a premium 3,508 square foot corner lot and is 2.5 blocks from the beach and adjacent to the vibrant, "Parkway, " neighborhood. An abundance of natural light fills this home, highlighting the refinished hardwood floors throughout both levels. Enjoy cooking in this bright, atomic-style kitchen, cozy up by the fireplace in the large living room and enjoy time outdoors in the backyard-- secluded by trees, a detached 2-car garage and a white picket fence. Designed with foresight and resilience, this home stands elevated against the occasional coastal storm, having proudly withstood Hurricane Sandy. After a day at the beach, rinse off in the private outdoor shower—beach life at its finest! Conveniently located near the beach and Margate Bay, this home offers easy access to both shopping districts, nightlife, and the iconic Lucy the Elephant. Even during peak summer season, parking is never a problem at 28 N. Kenyon! There's plenty of parking around the corner on Winchester Avenue, along with a detached two-car garage. Come and see for yourself why this Grand Dame is the perfect home to create your coastal Margate memories. Outstanding opportunity for builders, investors, or anyone wanting to own a beach home on a beautiful corner lot, with plenty of parking and close proximity to the beach. Property is sold in strictly as-is condition. No tampering with systems or appliances. No Seller repairs.

Key facts

• White picket fence
• Large living room
• Atomic-style kitchen

Tags

• REFINISHED HARDWOOD FLOORS
• ATOMIC-STYLE KITCHEN
• LARGE LIVING ROOM
• BACKYARD SECLUDED BY TREES
• DETACHED 2-CAR GARAGE
• WHITE PICKET FENCE

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $1.28M.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.28M).
• Recommended offer: $1.13M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety 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.
• Zoned schools: William H. Ross Iii School (math 37% / reading 62%, grade D, #256 of 1,303 statewide, top 22%, 184 students, 4% FRL); Eugene A. Tighe Middle School (math 57% / reading 57%, grade B, #51 of 431 statewide, top 12%, 152 students, 6% FRL) — zoned schools at 5% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $12,905/mo this rent would consume 127% 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 $9k of loan paydown is wiped out by about $38k 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 + 8.0% rent growth), your $358k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $1,125,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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 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: 1.01% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (median comp): $1,368,246
• List price: $1,279,000
• Delta: -6.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8702 Winchester Ave Ave	0.18mi	3/2.5 (-1)	2,048 (+8%)	8mo	$1,700,000	$830	66
39 N Douglas Ave	0.48mi	4/2.5	1,832 (-3%)	14mo	$1,250,000	$682	61
109 N Douglas Ave	0.49mi	4/3.5	2,000 (+6%)	10mo	$1,375,000	$688	56
7510 Fremont Ave	0.67mi	3/2.5 (-1)	1,803 (-5%)	4mo	$750,000	$416	53
219 N Vendome Ave	0.46mi	3/2.0 (-1)	1,748 (-8%)	9mo	$755,000	$432	52
123 N Clermont Ave Ave	0.56mi	3/2.5 (-1)	1,700 (-10%)	4mo	$915,000	$538	49
119 N Clermont Ave	0.55mi	3/2.5 (-1)	2,125 (+12%)	1mo	$1,150,000	$541	48
202 N Fredericksburg Ave	0.74mi	4/3.0	1,800 (-5%)	10mo	$1,299,999	$722	47
414 N Clermont Ave	0.64mi	4/3.0	2,076 (+10%)	9mo	$760,000	$366	45
2 S Barclay Ave	0.64mi	3/2.5 (-1)	1,742 (-8%)	9mo	$1,455,000	$835	44
505 N Delavan Ave	0.71mi	3/2.5 (-1)	1,738 (-8%)	9mo	$800,000	$460	41
108 N Clermont Ave	0.53mi	5/4.5 (+1)	2,168 (+15%)	7mo	$1,475,000	$680	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-14,669
• Equity at exit: $190,703

10-year hold

• IRR: 13.1%
• Equity multiple: 2.28×
• Total profit: $457,323
• Equity at exit: $110,585

Cash invested: $358,120 (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: 8.3×

Monthly cashflow live

• Estimated rent: $12,905 medium
• Mortgage (P&I): −$6,707
• Tax from tax record: −$573 /mo · $6,876/yr
• Insurance: −$533
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,710
• Net cashflow: $1,956

Break-even live

Break-even rent $10,430

Max offer price $1,279,000

Occupancy floor 80%

Sensitivity live

Price	-10% $2,680	-5% $2,318	+0% $1,956	+5% $1,594	+10% $1,232
Rent	-10% $936	-5% $1,446	+0% $1,956	+5% $2,465	+10% $2,975
Rate	-1.0pp $2,600	-0.5pp $2,281	base $1,956	+0.5pp $1,624	+1.0pp $1,287

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: $319,750
• Closing costs: $38,370
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	45d	1	0.14mi
2 N Frontenac Ave Margate City, NJ	3.0	2.5	1850	$17,000	$9.19	22d	1	0.36mi
204 N Union Ave Margate City, NJ	5.0	4.0	2393	$5,000	$2.09	45d	1	0.41mi
200 N Essex Ave Margate City, NJ	4.0	3.0	1570	$15,000	$9.55	45d	1	0.45mi
107 N Douglas Ave Margate City, NJ	5.0	3.5	2312	$36,000	$15.57	45d	1	0.49mi
107 N Douglas Ave Unit AUGUST Margate City, NJ	5.0	3.5	2312	$33,000	$14.27	22d	1	0.49mi
307 N Essex Ave Margate City, NJ	4.0	2.0	1561	$1,800	$1.15	45d	1	0.51mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	22d	1	0.53mi
7701 Atlantic Ave Margate City, NJ	1.0–3.0	2.0–3.0	1660	$75,000	$45.18	45d	4	0.57mi
16 S Decatur Ave Unit 9/15-10/31 Margate City, NJ	4.0	3.0	1732	$7,000	$4.04	45d	1	0.60mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	15d	1	0.69mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	15d	1	0.69mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	22d	1	0.71mi
201 N Coolidge Ave Unit A1 Margate City, NJ	3.0	2.0	1258	$35,000	$27.82	46d	1	0.89mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	45d	1	0.92mi
7103 Ventnor Ave Ventnor City, NJ	4.0	3.0	2288	$5,500	$2.40	15d	1	0.96mi
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	22d	1	1.13mi
7 S Richards Ave Ventnor City, NJ	4.0	2.0	1600	$25,000	$15.62	15d	1	1.20mi

Listing history 18 events

1. 2026-06-22
   days on market $1,279,000 Active 166 DOM
2. 2026-06-19
   days on market $1,279,000 Active 164 DOM
3. 2026-06-18
   days on market $1,279,000 Active 163 DOM
4. 2026-06-17
   days on market $1,279,000 Active 162 DOM
5. 2026-06-16
   days on market $1,279,000 Active 161 DOM
6. 2026-06-15
   days on market $1,279,000 Active 160 DOM
7. 2026-06-14
   days on market $1,279,000 Active 158 DOM
8. 2026-06-13
   days on market $1,279,000 Active 157 DOM
9. 2026-06-10
   days on market $1,279,000 Active 155 DOM
10. 2026-06-09
    days on market $1,279,000 Active 154 DOM
11. 2026-06-08
    days on market $1,279,000 Active 153 DOM
12. 2026-06-07
    days on market $1,279,000 Active 152 DOM
13. 2026-06-05
    days on market $1,279,000 Active 149 DOM
14. 2026-06-02
    days on market $1,279,000 Active 147 DOM
15. 2026-06-01
    days on market $1,279,000 Active 146 DOM
16. 2026-05-31
    days on market $1,279,000 Active 145 DOM
17. 2026-05-30
    days on market $1,279,000 Active 144 DOM
18. 2026-01-06
    listed $1,395,000 Active 1653-char remark

    Show marketing remark (1653 chars)

    Welcome to this charming and original all-American Four-Square Beauty. Built in 1925, this timeless gem presents the perfect blend of classic charm and a fantastic proximity to the beach. This 4-bedroom, 2.5-bath home sits on a premium 3,508 square foot corner lot and is 2.5 blocks from the beach and adjacent to the vibrant, "Parkway, " neighborhood. An abundance of natural light fills this home, highlighting the refinished hardwood floors throughout both levels. Enjoy cooking in this bright, atomic-style kitchen, cozy up by the fireplace in the large living room and enjoy time outdoors in the backyard-- secluded by trees, a detached 2-car garage and a white picket fence. Designed with foresight and resilience, this home stands elevated against the occasional coastal storm, having proudly withstood Hurricane Sandy. After a day at the beach, rinse off in the private outdoor shower—beach life at its finest! Conveniently located near the beach and Margate Bay, this home offers easy access to both shopping districts, nightlife, and the iconic Lucy the Elephant. Even during peak summer season, parking is never a problem at 28 N. Kenyon! There's plenty of parking around the corner on Winchester Avenue, along with a detached two-car garage. Come and see for yourself why this Grand Dame is the perfect home to create your coastal Margate memories. Outstanding opportunity for builders, investors, or anyone wanting to own a beach home on a beautiful corner lot, with plenty of parking and close proximity to the beach. Property is sold in strictly as-is condition. No tampering with systems or appliances. No Seller repairs.

ⓘ 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: $6,876 · $573/mo
• Projected year-2 tax: $19,362 · $1,613/mo
• Expected delta: +$12,485/yr (+$1,040/mo · 181.6%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $154,866
• − Mortgage interest: −$71,644
• − Property taxes: −$6,876
• − Insurance: −$11,514
• − Repairs & maintenance: −$12,389
• − Management: −$12,389
• − Depreciation: −$37,207
• Taxable income: $2,846
• Est. tax owed @ 24.0%: −$683
• After-tax cash flow: $22,784/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

1 event — show timeline

• 2026-01-06 Listed $1,395,000 SJSRMLS

Property tax history

+1.9%/yr

Latest (2025): $6,876 · +4.6% YoY. Source: county tax records.