313 W Juniper Ave

Wildwood, NJ 08260

$650,000F

3 bd · 1.0 ba · 930 sqft · Built 1930 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,705/mo
• Mortgage (P&I): −$3,409
• Tax + insurance: −$1,094
• HOA: −$0
• Vac / Maint / Mgmt: −$568
• Net cashflow: $-2,366/mo
• Annual: $-28,394/yr
• Cap rate: 2.71%
• Cash-on-cash: -12.79%
• DSCR: 0.43
• 1% rule: 0.42%
• Cash to close: $182,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $650k.
• At list price, monthly cash flow is $-2k ($-28k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (64.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (58.4% below list).
• It's been on market 93 days — a 9% lower offer ($592k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $232k (64.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• 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.
• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 436 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 8y 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 $185k; list at $650k implies a 251% gain — meaningful room to come down on a strong offer.
• 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 2.7% vs local median 5.6% in Wildwood — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• 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?
• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 64% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?