1141 N Michigan Ave · Atlantic City, NJ 08401

$179,900

3 bd · 1.0 ba · 902 sqft · SingleFamily public records · 178 Days on market

Built 1959 Est $234k · 23% under

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Why this score? — see what drove the B 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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey Atlantic City Rental — Long-Term Tenants, Immediate Cash Flow. 1141 N Michigan Ave, Atlantic City, NJ. $1,750/month + utilities. Lease through 6/28/2026. Single-family home, tenant-occupied Recent upgrades: new flooring in living room, hallway and carpet in bedrooms! Recent CO approved, ready to sell! Well-performing rental with multi-year tenants, excellent payment history, and no maintenance or turnover required. Rent history available via RentRedi. This is a true plug-and-play investment for cash buyers, 1031 exchanges, or portfolio investors seeking stable income from day one. Selling due to outside financial obligations — not property performance.

Key facts

• Parking
• Built 1959
• Listed 177 days

🏷️ Possibly a rental listed for sale. The $179,900 price doesn't fit this home's estimated sale value (~$233,618) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.7% in Atlantic 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 55/100 on livability (#525 in NJ) — a working-class tenant base; expect higher turnover. Strengths: health & safety A; Watch: commute D, schools F, crime F.
• Atlantic City School District (urban): math 9% / reading 26% proficiency, ranked #454 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 482 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $2,279/mo this rent would consume 66% of the median local household income ($41k/yr) (locally 3414% 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 $1k of loan paydown is wiped out by about $5k 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 + 5.5% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — 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 $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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 1959 — 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 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?
7. 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?
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 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: 1.27% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.54%
• DSCR: 1.69
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $233,618
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
822 N Arkansas Ave Ave	0.24mi	3/1.0	884 (-2%)	5mo	$140,000	$158	81
1007 N Ohio Ave	0.16mi	3/1.0	992 (+10%)	8mo	$175,000	$176	70
2018 Horace Bryant Jr Dr	0.10mi	3/1.5	1,032 (+14%)	2mo	$297,000	$288	68
2021 Grant Ave	0.21mi	3/1.0	1,011 (+12%)	4mo	$125,000	$124	67
1003 N Michigan Ave Ave	0.15mi	2/1.0 (-1)	1,024 (+14%)	0mo	$160,000	$156	66
1946 Murray Ave	0.55mi	3/2.0	896 (-1%)	7mo	$410,000	$458	63
1521 N Michigan Ave	0.36mi	3/1.5	864 (-4%)	14mo	$247,700	$287	63
345 Ocean Ave	0.69mi	3/1.0	922 (+2%)	2mo	$170,000	$184	62
1510 N Arkansas Ave	0.32mi	3/2.0	1,008 (+12%)	1mo	$275,000	$273	61
1530 Beach Ave	0.33mi	3/2.0	1,014 (+12%)	14mo	$267,000	$263	48
1441 Caspian Ave	0.51mi	3/1.0	1,025 (+14%)	8mo	$142,000	$139	47
2117 Murray Ave	0.56mi	3/2.0	1,025 (+14%)	10mo	$265,000	$259	39

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 · 5.52% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-8,620
• Equity at exit: $26,824

10-year hold

• IRR: 8.6%
• Equity multiple: 1.75×
• Total profit: $37,558
• Equity at exit: $15,554

Cash invested: $50,372 (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 08401

• Home prices YoY: -7.0%
• Rents YoY: 5.5%
• Active inventory: 482
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,279 high
• Mortgage (P&I): −$943
• Tax from tax record: −$130 /mo · $1,555/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $226

Break-even live

Break-even rent $1,993

Max offer price $179,900

Occupancy floor 85%

Sensitivity live

Price	-10% $327	-5% $277	+0% $226	+5% $175	+10% $124
Rent	-10% $46	-5% $136	+0% $226	+5% $316	+10% $406
Rate	-1.0pp $316	-0.5pp $271	base $226	+0.5pp $179	+1.0pp $132

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 Keener Ave Atlantic City, NJ	3.0	1.0	1059	$1,900	$1.79	22d	1	0.16mi
2015 Grant Ave Atlantic City, NJ	3.0	1.0	1056	$2,325	$2.20	22d	1	0.17mi
2021 Grant Ave Atlantic City, NJ	3.0	1.0	1011	$2,350	$2.32	22d	1	0.18mi
1510 N Arkansas Ave Atlantic City, NJ	3.0	2.0	1008	$2,750	$2.73	14d	1	0.33mi
1523 N Arkansas Ave Atlantic City, NJ	3.0	2.0	984	$2,500	$2.54	22d	1	0.37mi
1914 N Missouri Ave Atlantic City, NJ	2.0	1.0	750	$1,795	$2.39	22d	1	0.66mi
4 Italy Ter Atlantic City, NJ	3.0	1.0	1000	$2,300	$2.30	22d	1	0.73mi
1724 Atlantic Ave Unit A1 Atlantic City, NJ	3.0	1.0	950	$2,300	$2.42	22d	1	0.89mi
1724 Atlantic Ave Unit B2 Atlantic City, NJ	2.0	1.0	750	$1,495	$1.99	22d	1	0.89mi
1710 Atlantic Ave Apt A Atlantic City, NJ	2.0	1.0	600	$4,500	$7.50	22d	1	0.89mi
31 N Virginia Ave Atlantic City, NJ	3.0	1.0	725	$2,230	$3.08	14d	1	1.10mi
38 N Boston Ave Unit B Atlantic City, NJ	2.0	2.0	800	$2,400	$3.00	14d	1	1.22mi
848 Pacific Ave Unit 1014254P Atlantic City, NJ	1.0–2.0	2.0–3.0	1243	$2,413	$1.94	14d	2	1.34mi
3636 Winchester Ave Atlantic City, NJ	3.0	1.0	1094	$1,995	$1.82	22d	1	1.37mi
325 Atlantic Ave Unit 3 Atlantic City, NJ	2.0	1.0	660	$1,675	$2.54	22d	1	1.48mi
351 N New Hampshire Ave Atlantic City, NJ	2.0	2.0	972	$1,948	$2.00	14d	3	1.49mi

Listing history 29 events

1. 2026-06-19
   days on market $179,900 Active 178 DOM
2. 2026-06-18
   days on market $179,900 Active 177 DOM
3. 2026-06-17
   days on market $179,900 Active 176 DOM
4. 2026-06-16
   days on market $179,900 Active 175 DOM
5. 2026-06-15
   days on market $179,900 Active 174 DOM
6. 2026-06-14
   days on market $179,900 Active 172 DOM
7. 2026-06-13
   days on market $179,900 Active 171 DOM
8. 2026-06-10
   days on market $179,900 Active 169 DOM
9. 2026-06-09
   days on market $179,900 Active 168 DOM
10. 2026-06-08
    days on market $179,900 Active 167 DOM
11. 2026-06-07
    days on market $179,900 Active 166 DOM
12. 2026-06-02
    days on market $179,900 Active 161 DOM
13. 2026-06-01
    days on market $179,900 Active 160 DOM
14. 2026-05-31
    days on market $179,900 Active 159 DOM
15. 2026-05-30
    days on market $179,900 Active 158 DOM
16. 2026-05-11
    status Active 680-char remark

    Show marketing remark (680 chars)

    Turnkey Atlantic City Rental — Long-Term Tenants, Immediate Cash Flow. 1141 N Michigan Ave, Atlantic City, NJ. $1,750/month + utilities. Lease through 6/28/2026. Single-family home, tenant-occupied Recent upgrades: new flooring in living room, hallway and carpet in bedrooms! Recent CO approved, ready to sell! Well-performing rental with multi-year tenants, excellent payment history, and no maintenance or turnover required. Rent history available via RentRedi. This is a true plug-and-play investment for cash buyers, 1031 exchanges, or portfolio investors seeking stable income from day one. Selling due to outside financial obligations — not property performance.

17. 2026-03-03
    historical Under Contract - Continue to Show 680-char remark

    Show marketing remark (680 chars)

    Turnkey Atlantic City Rental — Long-Term Tenants, Immediate Cash Flow. 1141 N Michigan Ave, Atlantic City, NJ. $1,750/month + utilities. Lease through 6/28/2026. Single-family home, tenant-occupied Recent upgrades: new flooring in living room, hallway and carpet in bedrooms! Recent CO approved, ready to sell! Well-performing rental with multi-year tenants, excellent payment history, and no maintenance or turnover required. Rent history available via RentRedi. This is a true plug-and-play investment for cash buyers, 1031 exchanges, or portfolio investors seeking stable income from day one. Selling due to outside financial obligations — not property performance.

18. 2026-02-09
    price $179,900 680-char remark

    Show marketing remark (680 chars)

    Turnkey Atlantic City Rental — Long-Term Tenants, Immediate Cash Flow. 1141 N Michigan Ave, Atlantic City, NJ. $1,750/month + utilities. Lease through 6/28/2026. Single-family home, tenant-occupied Recent upgrades: new flooring in living room, hallway and carpet in bedrooms! Recent CO approved, ready to sell! Well-performing rental with multi-year tenants, excellent payment history, and no maintenance or turnover required. Rent history available via RentRedi. This is a true plug-and-play investment for cash buyers, 1031 exchanges, or portfolio investors seeking stable income from day one. Selling due to outside financial obligations — not property performance.

19. 2026-01-08
    price $189,900 680-char remark

    Show marketing remark (680 chars)

    Turnkey Atlantic City Rental — Long-Term Tenants, Immediate Cash Flow. 1141 N Michigan Ave, Atlantic City, NJ. $1,750/month + utilities. Lease through 6/28/2026. Single-family home, tenant-occupied Recent upgrades: new flooring in living room, hallway and carpet in bedrooms! Recent CO approved, ready to sell! Well-performing rental with multi-year tenants, excellent payment history, and no maintenance or turnover required. Rent history available via RentRedi. This is a true plug-and-play investment for cash buyers, 1031 exchanges, or portfolio investors seeking stable income from day one. Selling due to outside financial obligations — not property performance.

20. 2025-12-23
    listed $199,900 Active 680-char remark

    Show marketing remark (680 chars)

    Turnkey Atlantic City Rental — Long-Term Tenants, Immediate Cash Flow. 1141 N Michigan Ave, Atlantic City, NJ. $1,750/month + utilities. Lease through 6/28/2026. Single-family home, tenant-occupied Recent upgrades: new flooring in living room, hallway and carpet in bedrooms! Recent CO approved, ready to sell! Well-performing rental with multi-year tenants, excellent payment history, and no maintenance or turnover required. Rent history available via RentRedi. This is a true plug-and-play investment for cash buyers, 1031 exchanges, or portfolio investors seeking stable income from day one. Selling due to outside financial obligations — not property performance.

21. 2025-07-20
    historical $900
22. 2025-07-17
    listed $900
23. 2024-06-06
    soldstatus $125,000
24. 2024-05-29
    soldstatus $125,000 Sold 237-char remark

    Show marketing remark (237 chars)

    3 bedroom, 1 bathroom home in Atlantic City! Newer kitchen and spacious front and fenced in back yard. 2 car driveway and a screened in front porch. Purchase as a starter home or as a rental property. Call today to schedule your showing!

25. 2024-05-21
    historical Under Contract 237-char remark

    Show marketing remark (237 chars)

    3 bedroom, 1 bathroom home in Atlantic City! Newer kitchen and spacious front and fenced in back yard. 2 car driveway and a screened in front porch. Purchase as a starter home or as a rental property. Call today to schedule your showing!

26. 2023-12-08
    listed $135,000 Active 237-char remark

    Show marketing remark (237 chars)

    3 bedroom, 1 bathroom home in Atlantic City! Newer kitchen and spacious front and fenced in back yard. 2 car driveway and a screened in front porch. Purchase as a starter home or as a rental property. Call today to schedule your showing!

27. 2018-10-02
    soldstatus $31,185 Sold
28. 2018-09-12
    historical Under Contract
29. 2018-08-31
    listed $33,000 Active

ⓘ 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: $1,555 · $130/mo
• Projected year-2 tax: $3,017 · $251/mo
• Expected delta: +$1,462/yr (+$122/mo · 94.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,344
• − Mortgage interest: −$10,077
• − Property taxes: −$1,555
• − Insurance: −$6,018
• − Repairs & maintenance: −$2,187
• − Management: −$2,187
• − Depreciation: −$5,233
• Taxable income: $85
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $2,687/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: Atlantic City School District
• NCES district ID: 3400960
• Math proficiency: 9% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $27,842
• Composite: 13.66/100
• National rank: #9504
• State rank: #454 of 472 in NJ

Livability — Atlantic City

• Score: 55/100
• State rank: #525
• US rank: #23095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic City, NJ
• County: Atlantic County · 143,611 people
• City population: 38,925
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 38,925
• Household income: $41,126
• Rent vs Own: 69.8% rent · 30.2% own
• Severe rent burden: 3414.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Hispanic / Latino 32% Black 32% Asian 16% White 16% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 8% Dominican 8%
• Common ancestry: Romanian 1% Scotch-Irish 1%
• Foreign-born: 29% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 30% Other Indo-European 8% 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: ▼ -26.82%
• Current HPI: 353.7827
• Rent YoY: ▲ 5.52%
• 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

+445.2% since first listed

14 events — show timeline

• 2026-05-11 Relisted — SJSRMLS
• 2026-03-03 Contingent — SJSRMLS
• 2026-02-09 Price Changed $179,900 SJSRMLS
• 2026-01-08 Price Changed $189,900 SJSRMLS
• 2025-12-23 Listed $199,900 SJSRMLS
• 2025-07-20 Rental Removed $900 SHOWMOJO
• 2025-07-17 Listed for Rent $900 SHOWMOJO
• 2024-06-06 Sold (Public Records) $125,000 Public Records
• 2024-05-29 Sold (MLS) $125,000 SJSRMLS
• 2024-05-21 Contingent — SJSRMLS
• 2023-12-08 Listed $135,000 SJSRMLS
• 2018-10-02 Sold (MLS) $31,185 SJSRMLS
• 2018-09-12 Contingent — SJSRMLS
• 2018-08-31 Listed $33,000 SJSRMLS

Property tax history

-10.9%/yr

Latest (2025): $1,555 · -2.1% YoY. Source: county tax records.