3916 WINCHESTER Ave · Atlantic City, NJ 08401

$399,000

None bd · None ba · 1,200 sqft · SingleFamily public records · 151 Days on market

Built 1921 Est $278k · 43% over

---

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).

• Cash flow +4.9/30.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• 1% rule +0.3/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

A great opportunity for families or investors. Multifamily property near Stockton University and the South Jersey Industries project. The property features two units, separate electric and gas, offering great potential for both owner-occupants and investors. The upper unit is a spacious 3-bedroom, 1 -1/2-bathroom, two-story House, while the ground-level unit is 1-bedroom, 1-bathroom apartment. Both units have been freshly painted, Hardwood flooring and the kitchens has new cabinets and countertops, with inor updates throughout, making this property move-in ready. convenient location the AC Expressway, local shopping, dining, bars, and other attractions in nearby Ventnor. Plus, the beach an

Key facts

• Hardwood flooring
• Move-in ready
• Multifamily property

Tags

• MULTIFAMILY PROPERTY
• SEPARATE ELECTRIC AND GAS
• FRESHLY PAINTED
• HARDWOOD FLOORING
• NEW CABINETS AND COUNTERTOPS
• MOVE-IN READY

Property features AI

Finance

• Other: Annual taxes listed (amount not included per instructions)
• Financial info: Property has 2 units
• HOA & community: Rent control applies

Exterior

• Parking: Two exterior parking spaces; No garage
• Utilities: Public water; Public sewer
• Home design: Suitable for multi-family use (multi family + rooms); Offered for sale
• Exterior features: Lot dimensions approximately 19 x 105; Not waterfront

Interior

• Heating & cooling: Natural gas heating
• Interior features: Natural gas heating

What this means for you Summary

Snapshot

• This is a single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (61.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (46.6% below list).
• Recommended offer: $154k (61.4% below list) — sets the bar for cash-flow.

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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2,132/mo this rent would consume 62% 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 $3k of loan paydown is wiped out by about $12k 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

• It's been on market 151 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $200k; list at $399k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1921 — 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 $153,856 (61.4% 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. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 61% concession, seller financing, or rate buy-down credit?
3. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.53% ✗
• Cap rate: 3.40%
• Cash-on-cash: -10.32%
• DSCR: 0.54
• GRM: 15.6

CMA / ARV

• ARV (on-the-fly): $278,400
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 N Trenton Ave	0.21mi	2/2.0	1,248 (+4%)	6mo	$290,000	$232	78
42 N Annapolis Ave	0.10mi	3/1.5	1,086 (-10%)	4mo	$300,000	$276	76
448 N Harrisburg	0.35mi	3/1.5	1,167 (-3%)	9mo	$210,000	$180	72
600 N Dover Ave	0.53mi	3/1.5	1,088 (-9%)	12mo	$360,000	$331	50
3014 Howard Ave	0.59mi	3/1.0	1,100 (-8%)	12mo	$190,000	$173	48
2913 Fairmount Ave	0.64mi	3/2.0	1,332 (+11%)	5mo	$200,000	$150	48
3 N Marion Ave	0.65mi	3/3.0	1,376 (+15%)	9mo	$850,000	$618	38

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: -41.6%
• Equity multiple: -0.32×
• Total profit: $-147,272
• Equity at exit: $59,492

10-year hold

• IRR: -49.6%
• Equity multiple: -0.94×
• Total profit: $-217,188
• Equity at exit: $34,498

Cash invested: $111,720 (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 08401

• Home prices YoY: -7.0%
• Rents YoY: 5.5%
• Active inventory: 482
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,132 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$387 /mo · $4,641/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-1,388

Break-even live

Break-even rent $3,889

Max offer price $153,856

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3809 Ventnor Ave #6 Atlantic City, NJ	3.0	1.0	1500	$2,100	$1.40	21d	1	0.13mi
21 N Laclede Pl Atlantic City, NJ	3.0	1.0	1200	$2,000	$1.67	21d	1	0.15mi
3636 Winchester Ave Atlantic City, NJ	3.0	1.0	1094	$1,995	$1.82	21d	1	0.22mi
108 Lincoln Pl Apt A4 Atlantic City, NJ	2.0	1.0	800	$5,000	$6.25	21d	1	0.26mi
3851 Boardwalk Atlantic City, NJ	2.0	1.0–2.0	785	$27,500	$35.03	21d	5	0.29mi
101 S Raleigh Ave Atlantic City, NJ	2.0	1.0	735	$18,750	$25.51	13d	7	0.31mi
38 N Boston Ave Unit B Atlantic City, NJ	2.0	2.0	800	$2,400	$3.00	13d	1	0.39mi
512 N Harrisburg Ave Atlantic City, NJ	3.0	2.0	1156	$2,800	$2.42	13d	1	0.43mi
100 N Chelsea Ave Unit 1 Atlantic City, NJ	3.0	1.0	1200	$15,000	$12.50	21d	1	0.55mi
24 N Baton Rouge Ave Ventnor City, NJ	3.0	2.0	1350	$18,000	$13.33	13d	1	0.61mi
3101 Boardwalk Unit 1110-2 Atlantic City, NJ	1.0	1.5	872	$14,500	$16.63	21d	1	0.61mi
2834 Atlantic Ave Atlantic City, NJ	1.0	1.0	823	$1,688	$2.05	13d	3	0.71mi
5101 Ventnor Ave Unit 2 Ventnor City, NJ	2.0	1.0	1000	$1,950	$1.95	13d	1	0.74mi
5200 Boardwalk Unit 10A Ventnor City, NJ	1.0	2.0	1104	$21,000	$19.02	13d	1	0.86mi
23 S Little Rock Ave Unit 2 Ventnor City, NJ	2.0	2.0	1000	$2,500	$2.50	43d	1	0.86mi
3 S Surrey Ave Unit 1309004P Ventnor City, NJ	3.0	2.0	1087	$8,055	$7.41	21d	1	0.92mi
3 S Surrey Ave Unit 1308991P Ventnor City, NJ	3.0	2.0	1087	$7,267	$6.69	43d	1	0.92mi
4 Italy Ter Atlantic City, NJ	3.0	1.0	1000	$2,300	$2.30	21d	1	1.12mi
228 N Dudley Ave Unit 1309013P Ventnor City, NJ	2.0	2.0	893	$3,886	$4.35	13d	1	1.20mi
205 N Dorset Ave Unit 2 Ventnor City, NJ	2.0	2.0	875	$2,300	$2.63	21d	1	1.21mi
236 N Derby Ave #907 Ventnor City, NJ	1.0	1.5	832	$2,100	$2.52	43d	1	1.29mi
120 N Harvard Ave Ventnor City, NJ	3.0	1.0	1000	$2,100	$2.10	43d	1	1.44mi
2021 Grant Ave Atlantic City, NJ	3.0	1.0	1011	$2,350	$2.32	21d	1	1.45mi
2015 Grant Ave Atlantic City, NJ	3.0	1.0	1056	$2,325	$2.20	21d	1	1.46mi
6300 Winchester Ave Unit 2ND FLOOR Ventnor City, NJ	2.0	2.0	840	$9,000	$10.71	13d	1	1.47mi
905 Keener Ave Atlantic City, NJ	3.0	1.0	1059	$1,900	$1.79	21d	1	1.48mi

Listing history 22 events

1. 2026-06-19
   days on market $399,000 Under Contract 151 DOM
2. 2026-06-18
   days on market $399,000 Under Contract 150 DOM
3. 2026-06-17
   days on market $399,000 Under Contract 149 DOM
4. 2026-06-16
   days on market $399,000 Under Contract 148 DOM
5. 2026-06-15
   days on market $399,000 Under Contract 147 DOM
6. 2026-06-14
   days on market $399,000 Under Contract 145 DOM
7. 2026-06-13
   days on market $399,000 Under Contract 144 DOM
8. 2026-06-10
   days on market $399,000 Under Contract 142 DOM
9. 2026-06-09
   days on market $399,000 Under Contract 141 DOM
10. 2026-06-08
    days on market $399,000 Under Contract 140 DOM
11. 2026-06-07
    days on market $399,000 Under Contract 139 DOM
12. 2026-06-02
    days on market $399,000 Under Contract 134 DOM
13. 2026-06-01
    days on market $399,000 Under Contract 133 DOM
14. 2026-05-31
    days on market $399,000 Under Contract 132 DOM
15. 2026-05-30
    days on market $399,000 Under Contract 131 DOM
16. 2026-03-30
    historical Under Contract
17. 2026-03-18
    soldstatus $200,000
18. 2026-02-03
    status Active
19. 2026-01-29
    historical Under Contract - Continue to Show
20. 2026-01-19
    listed $399,000 Active
21. 2023-05-18
    soldstatus $150,000
22. 1988-08-30
    soldstatus $89,000

ⓘ 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: $4,641 · $387/mo
• Projected year-2 tax: $7,288 · $607/mo
• Expected delta: +$2,647/yr (+$221/mo · 57.0%)

ⓘ 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 1/10 Low
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,583
• − Mortgage interest: −$22,350
• − Property taxes: −$4,641
• − Insurance: −$7,114
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$11,607
• Taxable loss: −$24,222
• Est. tax savings @ 24.0%: +$5,813
• After-tax cash flow: $-10,839/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

+124.7% since first listed

7 events — show timeline

• 2026-03-30 Contingent — SJSRMLS
• 2026-03-18 Sold (Public Records) $200,000 Public Records
• 2026-02-03 Relisted — SJSRMLS
• 2026-01-29 Contingent — SJSRMLS
• 2026-01-19 Listed $399,000 SJSRMLS
• 2023-05-18 Sold (Public Records) $150,000 Public Records
• 1988-08-30 Sold (Public Records) $89,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $4,641 · -2.1% YoY. Source: county tax records.