2910 Ocean Ave · Wildwood, NJ 08260

$1,369,000

None bd · None ba · 3,538 sqft · MultiFamily public records · 41 Days on market

Built 1938

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional workforce housing investment opportunity just one block from the beach and boardwalk in one of the Jersey Shore’s most in-demand seasonal employment markets. This 14-bedroom, 11-bath property is fully configured for J1 and seasonal employee housing, offering strong existing cash flow with additional upside potential. The property currently accommodates 42 beds across multiple bunk-style rooms, with the ability to expand to 48 beds to further increase revenue. Designed for efficient high-occupancy operation, the property features secure keypad room entry, a spacious common kitchen and dining area, and a highly functional bathroom layout. The second floor includes 8 private

Key facts

• Built 1938
• Listed 41 days

Property features AI

Finance

• Other: 13-unit property

Exterior

• Parking: Assigned parking; Concrete driveway
• Utilities: City water; City sewer; Electric water heater
• Home design: Multi-family / rooming house suitable; Offered for sale
• Exterior features: Patio; Deck

Interior

• Kitchen: Eat-in kitchen; Pantry
• Heating & cooling: Electric heating; Cooling: see remarks
• Interior features: Blinds; Furnished (includes furniture); Living room; Eat-in kitchen; Kitchen; Pantry

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.37M.

Deal economics

• At list price, monthly cash flow is $19k ($230k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($36k rent vs $1.37M).
• Recommended offer: $1.33M (3.0% below list) — sets the bar for market timing.
• Cap rate 23.5% vs local median 5.6% in Wildwood — 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 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, schools F, crime 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.
• Market conditions: 431 active listings in the ZIP; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $41k of value loss. Plan a longer hold.
• Cape May County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $383k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($1.33M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $950k; 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 1938 — 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,327,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1938 — 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 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.63% ✓
• Cap rate: 23.48%
• Cash-on-cash: 61.38%
• DSCR: 3.73
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.8%
• Equity multiple: 3.61×
• Total profit: $1,000,274
• Equity at exit: $204,122

10-year hold

• IRR: 63.6%
• Equity multiple: 7.38×
• Total profit: $2,445,863
• Equity at exit: $118,366

Cash invested: $383,320 (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 08260

• Home prices YoY: -30.7%
• Active inventory: 431
• Price-to-rent: 44.4×

Monthly cashflow live

• Estimated rent: $36,012 medium
• Mortgage (P&I): −$7,179
• Tax from tax record: −$1,092 /mo · $13,101/yr
• Insurance: −$570
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,563
• Net cashflow: $19,182

Break-even live

Break-even rent $11,731

Max offer price $1,369,000

Occupancy floor 42%

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	4	1	$36,008
Total (14 units)			$36,012

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: $342,250
• Closing costs: $41,070
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-17
   days on market $1,369,000 Active 41 DOM
2. 2026-06-16
   days on market $1,369,000 Active 40 DOM
3. 2026-06-15
   days on market $1,369,000 Active 39 DOM
4. 2026-06-13
   days on market $1,369,000 Active 37 DOM
5. 2026-06-12
   days on market $1,369,000 Active 36 DOM
6. 2026-06-09
   days on market $1,369,000 Active 33 DOM
7. 2026-06-08
   days on market $1,369,000 Active 32 DOM
8. 2026-06-07
   days on market $1,369,000 Active 31 DOM
9. 2026-06-07
   days on market $1,369,000 Active 30 DOM
10. 2026-06-04
    days on market $1,369,000 Active 27 DOM
11. 2026-06-02
    days on market $1,369,000 Active 26 DOM
12. 2026-06-01
    days on market $1,369,000 Active 25 DOM
13. 2026-05-31
    days on market $1,369,000 Active 24 DOM
14. 2026-05-07
    listed $1,369,000 Active
15. 2022-05-03
    soldstatus $950,000
16. 2020-09-02
    soldstatus $850,000
17. 2001-01-10
    soldstatus $125,000

ⓘ 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: $13,101 · $1,092/mo
• Projected year-2 tax: $23,594 · $1,966/mo
• Expected delta: +$10,494/yr (+$874/mo · 80.1%)

ⓘ 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 · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $432,144
• − Mortgage interest: −$76,685
• − Property taxes: −$13,101
• − Insurance: −$11,964
• − Repairs & maintenance: −$34,572
• − Management: −$34,572
• − Depreciation: −$39,825
• Taxable income: $221,426
• Est. tax owed @ 24.0%: −$53,142
• After-tax cash flow: $177,037/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: Wildwood City School District
• NCES district ID: 3417940
• Math proficiency: 12% ▼ -6.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $33,232
• Composite: 15.84/100
• National rank: #9261
• State rank: #442 of 472 in NJ

Livability — Wildwood

• Score: 74/100
• State rank: #176
• US rank: #4679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood, NJ
• Population (ZIP): 12,913

Population outlook (Cape May County) Hauer SSP2

• Today (2025): 88,234 people
• By 2030: 84,144 · -4.6%
• By 2040: 75,146 · -14.8%
• By 2050: 67,389 · -23.6%
• By 2075: 55,732 · -36.8%
• By 2100: 44,972 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 12% Other Indo-European 3% French/Haitian/Cajun 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.83%
• Current HPI: 551.3393
• Rent YoY: —
• Metro: —
• 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

+995.2% since first listed

4 events — show timeline

• 2026-05-07 Listed $1,369,000 CMCMLS
• 2022-05-03 Sold (Public Records) $950,000 Public Records
• 2020-09-02 Sold (Public Records) $850,000 Public Records
• 2001-01-10 Sold (Public Records) $125,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $13,101 · +2.8% YoY. Source: county tax records.