803 B Dudley Ct #1404 · Ventnor City, NJ 08406

$259,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 106 Days on market

Built 1972 $375/mo HOA · 12% of rent

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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
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +5.0/5.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience luxury in this stunning Brick home just steps from the water & Boardwalk. Move-in ready, it has a fresh palette, an updated Kitchen with red Oak cabinets and stainless steel appliances. Outside Enjoy an in-ground saltwater pools surrounded by trees. Gym, Fitness center, Lounge, Clubhouse with kitchen, workshop on beautiful landscape. #WaterView Condominium Captivating Turn Key unit! Condo Fee of $375 includes gas, water, hot-water, heat, AirCondition-unit, insurance, flood ins, The HOA takes care of it al including landscaping, power washing, snow removal, and salting, providing truly maintenance-free living. Tucked away like a true hidden gem, this beautiful Waterview home offers the perfect mixture of comfort, space, serenity & waterview lifestyle. , pools, gym and clubhouse/lounge access, 2+ cars private parking more. Enjoy Great Quiet Lifestyle on the second floor.

Key facts

• Red oak cabinets
• Fitness center
• Updated kitchen

Tags

• IN GROUND SALTWATER POOLS
• UPDATED KITCHEN
• RED OAK CABINETS
• STAINLESS STEEL APPLIANCES
• FITNESS CENTER
• CLUBHOUSE WITH KITCHEN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $236k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.1% in Ventnor 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 72/100 on livability (#202 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-, crime B+; Watch: amenities F, cost of living F.
• Ventnor City School District (suburban): math 27% / reading 49% proficiency, ranked #266 of 472 in NJ (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ventnor Elementary School (math 27% / reading 42%, grade F, #582 of 1,303 statewide, top 49%, 304 students, 47% FRL); Ventnor Middle School (math 28% / reading 52%, grade F, #197 of 431 statewide, top 46%, 204 students, 62% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+57.3%/yr); 160 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $3,159/mo this rent would consume 55% of the median local household income ($69k/yr) (locally 329% 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 $2k of loan paydown is wiped out by about $8k 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 $73k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $98k; list at $259k implies a 164% gain — meaningful room to come down on a strong offer.

Recommended offer $235,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.22% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.99%
• DSCR: 1.36
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.9%
• Equity multiple: 1.08×
• Total profit: $5,656
• Equity at exit: $38,618

10-year hold

• IRR: 16.3%
• Equity multiple: 2.67×
• Total profit: $121,240
• Equity at exit: $22,394

Cash invested: $72,520 (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 08406

• Home prices YoY: -33.3%
• Rents YoY: 57.3%
• Active inventory: 160
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,159 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$108
• HOA: −$375
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $483

Break-even live

Break-even rent $2,547

Max offer price $259,000

Occupancy floor 80%

Sensitivity live

Price	-10% $629	-5% $556	+0% $483	+5% $409	+10% $336
Rent	-10% $233	-5% $358	+0% $483	+5% $608	+10% $732
Rate	-1.0pp $613	-0.5pp $549	base $483	+0.5pp $416	+1.0pp $347

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 N Dudley Ave Unit 1309013P Ventnor City, NJ	2.0	2.0	893	$3,886	$4.35	15d	1	0.59mi
236 N Derby Ave #907 Ventnor City, NJ	1.0	1.5	832	$2,100	$2.52	45d	1	0.60mi
205 N Dorset Ave Unit 2 Ventnor City, NJ	2.0	2.0	875	$2,300	$2.63	23d	1	0.63mi
206 N Dorset Ave Unit 1309019P Ventnor City, NJ	1.0	1.0	645	$3,457	$5.36	15d	1	0.64mi
6300 Winchester Ave Unit 2ND FLOOR Ventnor City, NJ	2.0	2.0	840	$9,000	$10.71	15d	1	0.85mi
16 N Sacramento Ave Unit 2 Ventnor City, NJ	1.0	1.0	625	$1,600	$2.56	45d	1	0.87mi
5101 Ventnor Ave Unit 2 Ventnor City, NJ	2.0	1.0	1000	$1,950	$1.95	15d	1	0.96mi
23 S Little Rock Ave Unit 2 Ventnor City, NJ	2.0	2.0	1000	$2,500	$2.50	45d	1	1.00mi
101 S Victoria Ave Unit B1 Ventnor City, NJ	1.0	1.0	550	$2,100	$3.82	15d	1	1.05mi
5200 Boardwalk Unit 10A Ventnor City, NJ	1.0	2.0	1104	$21,000	$19.02	15d	1	1.13mi
21 S Windsor Ave Unit b1 Atlantic City, NJ	2.0	1.0	640	$1,650	$2.58	15d	1	1.41mi
101 S Raleigh Ave Atlantic City, NJ	2.0	1.0	735	$10,125	$13.78	15d	7	1.44mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Likely covers: watergaslandscapingsnow removalpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-02-07
   listed $259,000 Active 905-char remark

   Show marketing remark (905 chars)

   Experience luxury in this stunning Brick home just steps from the water & Boardwalk. Move-in ready, it has a fresh palette, an updated Kitchen with red Oak cabinets and stainless steel appliances. Outside Enjoy an in-ground saltwater pools surrounded by trees. Gym, Fitness center, Lounge, Clubhouse with kitchen, workshop on beautiful landscape. #WaterView Condominium Captivating Turn Key unit! Condo Fee of $375 includes gas, water, hot-water, heat, AirCondition-unit, insurance, flood ins, The HOA takes care of it al including landscaping, power washing, snow removal, and salting, providing truly maintenance-free living. Tucked away like a true hidden gem, this beautiful Waterview home offers the perfect mixture of comfort, space, serenity & waterview lifestyle. , pools, gym and clubhouse/lounge access, 2+ cars private parking more. Enjoy Great Quiet Lifestyle on the second floor.

2. 2003-09-10
   soldstatus $98,000
3. 2002-12-20
   soldstatus $69,999

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $4,252 · $354/mo
• Expected delta: +$2,197/yr (+$183/mo · 106.8%)

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

Taxation est. · year 1

• Rental income: $37,902
• − Mortgage interest: −$14,508
• − Property taxes: −$2,056
• − Insurance: −$1,295
• − Repairs & maintenance: −$3,032
• − Management: −$3,032
• − HOA: −$4,500
• − Depreciation: −$7,535
• Taxable income: $1,945
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $5,327/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: Ventnor City School District
• NCES district ID: 3416680
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $52,220
• Composite: 32.96/100
• National rank: #5588
• State rank: #266 of 472 in NJ

Livability — Ventnor City

• Score: 72/100
• State rank: #202
• US rank: #5716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ventnor City, NJ
• County: Atlantic County · 143,611 people
• City population: 8,972
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 8,972
• Household income: $69,099
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 329.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Asian 9% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Iranian 2%
• Foreign-born: 21% · Canada, Jamaica, Vietnam
• Languages at home: 76% English-only · Spanish 10% Other Indo-European 5% 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: ▼ -223.99%
• Current HPI: 449.3494
• Rent YoY: ▲ 57.28%
• 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

+270.0% since first listed

3 events — show timeline

• 2026-02-07 Listed $259,000 SJSRMLS
• 2003-09-10 Sold (Public Records) $98,000 Public Records
• 2002-12-20 Sold (Public Records) $69,999 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,056 · +3.3% YoY. Source: county tax records.