202 N Harding Ave · Margate City, NJ 08402

$1,375,000

3 bd · 3.5 ba · 2,800 sqft · SingleFamily public records · 81 Days on market

Built 2026 3,184 sqft lot $491/sqft · 21% below area Est $929k · 48% over

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Why this score? — see what drove the D 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 +16.4/30.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW CONSTRUCTION!!! Here’s your chance to own a beautiful piece of the Jersey Shore, just in time for Summer 2026. 202 N Harding Ave, Unit B offers everything you need for comfortable, coastal living. This brand-new home features 3 bedrooms and 3.5 bathrooms, each designed with tasteful, modern finishes. The primary suite occupies its own level, complete with a spacious, spa-like bathroom and a private balcony boasting views of the Atlantic City skyline and a glimpse of the ocean. Additional highlights include an outdoor shower, a large garage with space for one car plus extra storage, and a mudroom that can easily double as a bonus space for overflow guests. Two front decks provide the perfect spots to relax and enjoy the sea breeze. Located within walking distance to Margate’s vibrant nightlife on Amherst Avenue.

Key facts

• Garage
• Built 2026
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $1.38M.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.13M (17.7% below list).
• Recommended offer: $1.13M (17.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment 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.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $11,322/mo this rent would consume 112% 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 $10k of loan paydown is wiped out by about $41k 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 81 days — a 6% lower offer ($1.29M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $490k; list at $1.38M implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $1,132,174 (17.7% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.82% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.42%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

• ARV (median comp): $928,980
• List price: $1,375,000
• Delta: 48.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 N Union Ave	0.11mi	4/3.5 (+1)	2,390 (-15%)	1mo	$2,225,000	$931	65
111 Mansfield Ave N	0.46mi	4/2.5 (+1)	2,922 (+4%)	12mo	$1,725,000	$590	53
302 N Mansfield Ave	0.44mi	4/3.5 (+1)	2,500 (-11%)	5mo	$2,100,000	$840	52
8211 Ventnor Ave	0.69mi	4/3.0 (+1)	2,972 (+6%)	3mo	$1,600,000	$538	48
8508 Wellington Ave	0.56mi	4/3.0 (+1)	2,547 (-9%)	8mo	$1,325,000	$520	45
62 Seaside	0.72mi	4/2.5 (+1)	2,690 (-4%)	13mo	$1,100,000	$409	40

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: -9.6%
• Equity multiple: 0.63×
• Total profit: $-141,071
• Equity at exit: $205,017

10-year hold

• IRR: 5.2%
• Equity multiple: 1.46×
• Total profit: $176,613
• Equity at exit: $118,885

Cash invested: $385,000 (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: 10.1×

Monthly cashflow live

• Estimated rent: $11,322 medium
• Mortgage (P&I): −$7,211
• Tax from tax record: −$384 /mo · $4,609/yr
• Insurance: −$573
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,378
• Net cashflow: $350

Break-even live

Break-even rent $10,879

Max offer price $1,375,000

Occupancy floor 92%

Sensitivity live

Price	-10% $1,128	-5% $739	+0% $350	+5% $-39	+10% $-428
Rent	-10% $-544	-5% $-97	+0% $350	+5% $797	+10% $1,244
Rate	-1.0pp $1,042	-0.5pp $700	base $350	+0.5pp $-6	+1.0pp $-369

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: $343,750
• Closing costs: $41,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	22d	1	0.19mi
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	44d	1	0.40mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	14d	1	0.85mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	14d	1	1.20mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	44d	1	1.44mi
7103 Ventnor Ave Ventnor City, NJ	4.0	3.0	2288	$5,500	$2.40	14d	1	1.48mi

Listing history 29 events

1. 2026-06-19
   days on market $1,375,000 Active 81 DOM
2. 2026-06-18
   days on market $1,375,000 Active 80 DOM
3. 2026-06-17
   days on market $1,375,000 Active 79 DOM
4. 2026-06-16
   days on market $1,375,000 Active 78 DOM
5. 2026-06-15
   days on market $1,375,000 Active 77 DOM
6. 2026-06-14
   days on market $1,375,000 Active 75 DOM
7. 2026-06-13
   days on market $1,375,000 Active 74 DOM
8. 2026-06-10
   days on market $1,375,000 Active 72 DOM
9. 2026-06-09
   days on market $1,375,000 Active 71 DOM
10. 2026-06-08
    days on market $1,375,000 Active 70 DOM
11. 2026-06-07
    days on market $1,375,000 Active 69 DOM
12. 2026-06-05
    days on market $1,375,000 Active 66 DOM
13. 2026-06-03
    remarks 699-char remark
14. 2026-06-02
    days on market $1,375,000 Active 64 DOM
15. 2026-06-01
    days on market $1,375,000 Active 63 DOM
16. 2026-05-31
    days on market $1,375,000 Active 62 DOM
17. 2026-05-30
    days on market $1,375,000 Active 61 DOM
18. 2026-03-31
    listed $1,375,000 Active 838-char remark

    Show marketing remark (838 chars)

    NEW CONSTRUCTION!!! Here’s your chance to own a beautiful piece of the Jersey Shore, just in time for Summer 2026. 202 N Harding Ave, Unit B offers everything you need for comfortable, coastal living. This brand-new home features 3 bedrooms and 3.5 bathrooms, each designed with tasteful, modern finishes. The primary suite occupies its own level, complete with a spacious, spa-like bathroom and a private balcony boasting views of the Atlantic City skyline and a glimpse of the ocean. Additional highlights include an outdoor shower, a large garage with space for one car plus extra storage, and a mudroom that can easily double as a bonus space for overflow guests. Two front decks provide the perfect spots to relax and enjoy the sea breeze. Located within walking distance to Margate’s vibrant nightlife on Amherst Avenue.

19. 2026-02-20
    listed $1,375,000 Active 838-char remark

    Show marketing remark (838 chars)

    NEW CONSTRUCTION!!! Here’s your chance to own a beautiful piece of the Jersey Shore, just in time for Summer 2026. 202 N Harding Ave, Unit B offers everything you need for comfortable, coastal living. This brand-new home features 3 bedrooms and 3.5 bathrooms, each designed with tasteful, modern finishes. The primary suite occupies its own level, complete with a spacious, spa-like bathroom and a private balcony boasting views of the Atlantic City skyline and a glimpse of the ocean. Additional highlights include an outdoor shower, a large garage with space for one car plus extra storage, and a mudroom that can easily double as a bonus space for overflow guests. Two front decks provide the perfect spots to relax and enjoy the sea breeze. Located within walking distance to Margate’s vibrant nightlife on Amherst Avenue.

20. 2025-11-03
    historical $1,375,000 838-char remark

    Show marketing remark (838 chars)

    NEW CONSTRUCTION!!! Here’s your chance to own a beautiful piece of the Jersey Shore, just in time for Summer 2026. 202 N Harding Ave, Unit B offers everything you need for comfortable, coastal living. This brand-new home features 3 bedrooms and 3.5 bathrooms, each designed with tasteful, modern finishes. The primary suite occupies its own level, complete with a spacious, spa-like bathroom and a private balcony boasting views of the Atlantic City skyline and a glimpse of the ocean. Additional highlights include an outdoor shower, a large garage with space for one car plus extra storage, and a mudroom that can easily double as a bonus space for overflow guests. Two front decks provide the perfect spots to relax and enjoy the sea breeze. Located within walking distance to Margate’s vibrant nightlife on Amherst Avenue.

21. 2021-09-08
    soldstatus $490,000
22. 2021-07-02
    soldstatus $490,000 Closed
23. 2021-07-02
    soldstatus $490,000 Sold
24. 2021-06-16
    status Pending
25. 2021-05-24
    historical Under Contract - Continue to Show
26. 2021-04-29
    listed $525,000 Active
27. 2021-04-15
    listed $525,000 Active
28. 1990-11-21
    soldstatus $41,000
29. 1990-08-13
    soldstatus $140,000

ⓘ 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: $4,609 · $384/mo
• Projected year-2 tax: $19,423 · $1,619/mo
• Expected delta: +$14,814/yr (+$1,235/mo · 321.4%)

ⓘ 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 4/10 Moderate
• 🌡 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: $135,861
• − Mortgage interest: −$77,021
• − Property taxes: −$4,609
• − Insurance: −$11,994
• − Repairs & maintenance: −$10,869
• − Management: −$10,869
• − Depreciation: −$40,000
• Taxable loss: −$19,500
• Est. tax savings @ 24.0%: +$4,680
• After-tax cash flow: $8,880/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

+882.1% since first listed

12 events — show timeline

• 2026-03-31 Listed $1,375,000 BRIGHT MLS
• 2026-02-20 Listed $1,375,000 SJSRMLS
• 2025-11-03 Coming Soon $1,375,000 BRIGHT MLS
• 2021-09-08 Sold (Public Records) $490,000 Public Records
• 2021-07-02 Sold (MLS) $490,000 SJSRMLS
• 2021-07-02 Sold (MLS) $490,000 BRIGHT MLS
• 2021-06-16 Pending — BRIGHT MLS
• 2021-05-24 Contingent — SJSRMLS
• 2021-04-29 Listed $525,000 BRIGHT MLS
• 2021-04-15 Listed $525,000 SJSRMLS
• 1990-11-21 Sold (Public Records) $41,000 Public Records
• 1990-08-13 Sold (Public Records) $140,000 Public Records

Property tax history

-1.8%/yr

Latest (2025): $4,609 · -17.0% YoY. Source: county tax records.