221 N Belmont Dr · Margate City, NJ 08402

$1,149,900

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 57 Days on market

Built 1950 Est $832k · 38% over

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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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +4.9/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Meticulous craftsmanship and exquisite decor characterize this Pinterest-perfect three bedroom two bath beach cottage. New porcelain tile and plantation shutters adorn the open floor plan, which includes a living room with built-in fireplace, a large dining area and an eat-in kitchen with new Cambria quartz counter tops, gleaming white cabinets and matching white glass appliances. The master bedroom suite is a private oasis with an enormous bathroom and a private sitting room, dressing area or office. There is also a private entrance to the backyard, which includes a new outdoor shower. Two additional bedrooms share a hall bath, and a pull-down attic provides ample room for storage. Perhaps the most impressive feature of the home is the enormous wrap-around pillared porch, which is accented by gorgeous lanterns, oversized shutters and a perfectly manicured lawn. The home is just chock full of upgrades, with a new hot water heater, updated bathrooms, and new paint through out. Away from the hustle and bustle of the island yet still close enough to walk or bike to the beach or the bay. This one-story cottage is the perfect starter home, retirement sanctuary or shore getaway.

Key facts

• Parking
• Built 1950
• Listed 57 days

Property features AI

Finance

• Other: Property offered for sale; 7 total rooms; Crawl space basement; Library / study; Dining area

Exterior

• Parking: One exterior parking space; No garage
• Security: Security system / burglar alarm
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Brick and vinyl exterior; Corner lot
• Construction: Property older than 25 years
• Exterior features: Fenced yard; Porch; Patio; Shed; Enclosed outside shower; Sprinkler system; Curbs and sidewalks; Paved road; Concrete driveway

Interior

• Kitchen: Gas stove; Self-cleaning oven; Microwave; Dishwasher; Refrigerator; Disposal; Pantry; Eat-in kitchen; Kitchen island
• Bedrooms: All bedrooms on main level; Master bedroom on first floor
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Carbon monoxide detector; Smoke and fire alarm; Security system / burglar alarm; Kitchen center island; Walk-in closet; Blinds
• Laundry & utility: Washer; Dryer; Utility room on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $1k ($18k/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 $1.14M (1.1% below list).
• Recommended offer: $1.12M (3.0% below list) — sets the bar for market timing.

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; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $11,377/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 $8k of loan paydown is wiped out by about $34k 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 $322k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y 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 $521k; list at $1.15M implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — 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 $1,115,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.14%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $831,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 N Belmont Dr	0.00mi	3/2.0	1,512 (0%)	0mo	$1,149,000	$760	100
103 N Baltimore Ave	0.36mi	3/2.0	1,464 (-3%)	9mo	$746,000	$510	71
27 N Newark Ave	0.54mi	3/1.5	1,518 (+0%)	4mo	$735,000	$484	69
13 N Haverford Ave	0.52mi	3/2.5	1,456 (-4%)	1mo	$1,250,000	$859	66
123 N Clermont Ave Ave	0.18mi	3/2.5	1,700 (+12%)	4mo	$915,000	$538	66
400 Berkshire Dr	0.36mi	3/2.5	1,576 (+4%)	12mo	$425,000	$270	65
219 N Hanover Ave	0.50mi	4/2.0 (+1)	1,456 (-4%)	2mo	$945,000	$649	64
114 N Avolyn Ave	0.63mi	3/2.0	1,500 (-1%)	11mo	$825,000	$550	60
505 N Delavan Ave	0.30mi	3/2.5	1,738 (+15%)	9mo	$800,000	$460	51
8092 Fulton Ave	0.38mi	3/1.5	1,639 (+8%)	18mo	$788,000	$481	51
26 N Iroquois	0.61mi	3/2.0	1,362 (-10%)	10mo	$999,999	$734	47
6 S Granville Ave	0.58mi	3/2.0	1,734 (+15%)	17mo	$999,990	$577	34

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-31,480
• Equity at exit: $171,454

10-year hold

• IRR: 11.9%
• Equity multiple: 2.14×
• Total profit: $367,933
• Equity at exit: $99,422

Cash invested: $321,972 (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: 8.4×

Monthly cashflow live

• Estimated rent: $11,377 medium
• Mortgage (P&I): −$6,030
• Tax from tax record: −$563 /mo · $6,757/yr
• Insurance: −$479
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,389
• Net cashflow: $1,489

Break-even live

Break-even rent $9,492

Max offer price $1,149,900

Occupancy floor 82%

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: $287,475
• Closing costs: $34,497
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	13d	1	0.11mi
307 N Essex Ave Margate City, NJ	4.0	2.0	1561	$1,800	$1.15	43d	1	0.23mi
200 N Essex Ave Margate City, NJ	4.0	3.0	1570	$15,000	$9.55	43d	1	0.25mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	43d	1	0.42mi
2 N Frontenac Ave Margate City, NJ	3.0	2.5	1850	$17,000	$9.19	21d	1	0.47mi
7701 Atlantic Ave Margate City, NJ	1.0–3.0	2.0–3.0	1660	$75,000	$45.18	43d	4	0.49mi
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	21d	1	0.53mi
7 S Richards Ave Ventnor City, NJ	4.0	2.0	1600	$25,000	$15.62	13d	1	0.67mi
406 N Dorset Ave Ventnor City, NJ	4.0	1.5	1568	$13,000	$8.29	13d	1	1.06mi
9101 Atlantic Ave #106 Margate City, NJ	2.0	2.0	1108	$10,000	$9.03	43d	1	1.24mi
9200 Monmouth Ave Unit D Margate City, NJ	2.0	2.0	1250	$15,000	$12.00	43d	1	1.25mi
126 N Washington Ave Unit A Margate City, NJ	2.0	2.0	1100	$3,575	$3.25	43d	1	1.30mi
16 S Decatur Ave Unit 9/15-10/31 Margate City, NJ	4.0	3.0	1732	$7,000	$4.04	43d	1	1.30mi
610A N Victoria Ave Ventnor City, NJ	3.0	2.5	1800	$2,550	$1.42	21d	1	1.35mi
3 S Surrey Ave Unit 1309004P Ventnor City, NJ	3.0	2.0	1087	$8,055	$7.41	21d	1	1.42mi
3 S Surrey Ave Unit 1308991P Ventnor City, NJ	3.0	2.0	1087	$7,267	$6.69	43d	1	1.42mi

Listing history 28 events

1. 2026-06-05
   days on market $1,149,900 Under Contract 57 DOM
2. 2026-06-02
   days on market $1,149,900 Under Contract 55 DOM
3. 2026-06-01
   days on market $1,149,900 Under Contract 54 DOM
4. 2026-05-31
   days on market $1,149,900 Under Contract 53 DOM
5. 2026-05-30
   days on market $1,149,900 Under Contract 52 DOM
6. 2026-04-17
   historical Under Contract
7. 2026-04-08
   listed $1,149,900 Active
8. 2017-11-29
   soldstatus $521,000
9. 2017-11-20
   soldstatus $521,000 Sold 1192-char remark

   Show marketing remark (1192 chars)

   Meticulous craftsmanship and exquisite decor characterize this Pinterest-perfect three bedroom two bath beach cottage. New porcelain tile and plantation shutters adorn the open floor plan, which includes a living room with built-in fireplace, a large dining area and an eat-in kitchen with new Cambria quartz counter tops, gleaming white cabinets and matching white glass appliances. The master bedroom suite is a private oasis with an enormous bathroom and a private sitting room, dressing area or office. There is also a private entrance to the backyard, which includes a new outdoor shower. Two additional bedrooms share a hall bath, and a pull-down attic provides ample room for storage. Perhaps the most impressive feature of the home is the enormous wrap-around pillared porch, which is accented by gorgeous lanterns, oversized shutters and a perfectly manicured lawn. The home is just chock full of upgrades, with a new hot water heater, updated bathrooms, and new paint through out. Away from the hustle and bustle of the island yet still close enough to walk or bike to the beach or the bay. This one-story cottage is the perfect starter home, retirement sanctuary or shore getaway.

10. 2017-10-30
    historical Under Contract 1192-char remark

    Show marketing remark (1192 chars)

    Meticulous craftsmanship and exquisite decor characterize this Pinterest-perfect three bedroom two bath beach cottage. New porcelain tile and plantation shutters adorn the open floor plan, which includes a living room with built-in fireplace, a large dining area and an eat-in kitchen with new Cambria quartz counter tops, gleaming white cabinets and matching white glass appliances. The master bedroom suite is a private oasis with an enormous bathroom and a private sitting room, dressing area or office. There is also a private entrance to the backyard, which includes a new outdoor shower. Two additional bedrooms share a hall bath, and a pull-down attic provides ample room for storage. Perhaps the most impressive feature of the home is the enormous wrap-around pillared porch, which is accented by gorgeous lanterns, oversized shutters and a perfectly manicured lawn. The home is just chock full of upgrades, with a new hot water heater, updated bathrooms, and new paint through out. Away from the hustle and bustle of the island yet still close enough to walk or bike to the beach or the bay. This one-story cottage is the perfect starter home, retirement sanctuary or shore getaway.

11. 2017-08-31
    listed $530,000 Active 1192-char remark

    Show marketing remark (1192 chars)

    Meticulous craftsmanship and exquisite decor characterize this Pinterest-perfect three bedroom two bath beach cottage. New porcelain tile and plantation shutters adorn the open floor plan, which includes a living room with built-in fireplace, a large dining area and an eat-in kitchen with new Cambria quartz counter tops, gleaming white cabinets and matching white glass appliances. The master bedroom suite is a private oasis with an enormous bathroom and a private sitting room, dressing area or office. There is also a private entrance to the backyard, which includes a new outdoor shower. Two additional bedrooms share a hall bath, and a pull-down attic provides ample room for storage. Perhaps the most impressive feature of the home is the enormous wrap-around pillared porch, which is accented by gorgeous lanterns, oversized shutters and a perfectly manicured lawn. The home is just chock full of upgrades, with a new hot water heater, updated bathrooms, and new paint through out. Away from the hustle and bustle of the island yet still close enough to walk or bike to the beach or the bay. This one-story cottage is the perfect starter home, retirement sanctuary or shore getaway.

12. 2013-10-30
    soldstatus $475,000
13. 2013-09-27
    soldstatus $475,000 502-char remark

    Show marketing remark (502 chars)

    An exquisitely remodeled ranch home with wonderful front and side porches. As you walk through, the home will surpass your expectations! It is rare to find a huge master bedroom suite this size with a bonus room. Many have stopped to look at the outside of this beautiful home located on a wide street in Margate. If you are looking for that special property to just move right in, this is it! Located walking distance to the beach and boards, around the corner from the dog park, this is a must see!

14. 2013-08-06
    historical 502-char remark

    Show marketing remark (502 chars)

    An exquisitely remodeled ranch home with wonderful front and side porches. As you walk through, the home will surpass your expectations! It is rare to find a huge master bedroom suite this size with a bonus room. Many have stopped to look at the outside of this beautiful home located on a wide street in Margate. If you are looking for that special property to just move right in, this is it! Located walking distance to the beach and boards, around the corner from the dog park, this is a must see!

15. 2013-07-10
    listed $499,000 502-char remark

    Show marketing remark (502 chars)

    An exquisitely remodeled ranch home with wonderful front and side porches. As you walk through, the home will surpass your expectations! It is rare to find a huge master bedroom suite this size with a bonus room. Many have stopped to look at the outside of this beautiful home located on a wide street in Margate. If you are looking for that special property to just move right in, this is it! Located walking distance to the beach and boards, around the corner from the dog park, this is a must see!

16. 2013-07-01
    historical
17. 2013-01-25
    listed $549,000
18. 2008-08-08
    soldstatus $550,000
19. 2008-06-20
    soldstatus $550,000
20. 2008-05-02
    historical
21. 2008-04-09
    listed $589,000
22. 2003-03-04
    soldstatus $310,000
23. 2003-02-28
    soldstatus $310,000
24. 2002-12-10
    historical
25. 2002-11-30
    listed $319,000
26. 1999-01-08
    soldstatus $138,000
27. 1989-08-08
    soldstatus $142,000
28. 1986-01-15
    soldstatus $44,500

ⓘ 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: $6,757 · $563/mo
• Projected year-2 tax: $17,695 · $1,475/mo
• Expected delta: +$10,938/yr (+$911/mo · 161.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 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: $136,525
• − Mortgage interest: −$64,412
• − Property taxes: −$6,757
• − Insurance: −$10,868
• − Repairs & maintenance: −$10,922
• − Management: −$10,922
• − Depreciation: −$33,452
• Taxable loss: −$808
• Est. tax savings @ 24.0%: +$194
• After-tax cash flow: $18,061/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

+2484.0% since first listed

23 events — show timeline

• 2026-04-17 Contingent — SJSRMLS
• 2026-04-08 Listed $1,149,900 SJSRMLS
• 2017-11-29 Sold (Public Records) $521,000 Public Records
• 2017-11-20 Sold (MLS) $521,000 SJSRMLS
• 2017-10-30 Contingent — SJSRMLS
• 2017-08-31 Listed $530,000 SJSRMLS
• 2013-10-30 Sold (Public Records) $475,000 Public Records
• 2013-09-27 Sold (MLS) $475,000 SJSRMLS
• 2013-08-06 Listing Removed — SJSRMLS
• 2013-07-10 Listed $499,000 SJSRMLS
• 2013-07-01 Listing Removed — SJSRMLS
• 2013-01-25 Listed $549,000 SJSRMLS
• 2008-08-08 Sold (Public Records) $550,000 Public Records
• 2008-06-20 Sold (MLS) $550,000 SJSRMLS
• 2008-05-02 Listing Removed — SJSRMLS
• 2008-04-09 Listed $589,000 SJSRMLS
• 2003-03-04 Sold (Public Records) $310,000 Public Records
• 2003-02-28 Sold (MLS) $310,000 SJSRMLS
• 2002-12-10 Listing Removed — SJSRMLS
• 2002-11-30 Listed $319,000 SJSRMLS
• 1999-01-08 Sold (Public Records) $138,000 Public Records
• 1989-08-08 Sold (Public Records) $142,000 Public Records
• 1986-01-15 Sold (Public Records) $44,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $6,757 · +4.6% YoY. Source: county tax records.