1302 W Chicago Blvd · Spring Lake Heights, NJ 08750

$899,000

3 bd · 2.0 ba · 1,762 sqft · SingleFamily public records · 22 Days on market

Built 1966 0.53 ac lot $510/sqft · 6% below area Est $956k · 6% under

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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 +13.0/30.0
• ARV discount +10.2/15.0
• Appreciation +10.0/10.0
• Schools +4.4/10.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

SEA GIRT AVE. TO OLD MILL RD, WEST ON WEST CHICAGO BOULEVARD ALL APPTS. THRU LISTING BROKER, WONDERFUL RANCH, SPACIOUS FOR ENTERTAINING, NEW WINDOWS (2 YRS AGO), ROOF (2 MO. ), NEW FURNACE & CA (1 1/2 YRS. AGO), A REAL MUST SEE! LARGE PROPERTY, BACKING UP TO PRIVACY, (SCHOOL BOARD PROPERTY.

Key facts

• 0.53 acre lot
• 2 garage spots
• Built 1966

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public sewer
• Home design: Fee simple ownership
• Exterior features: Timberline roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: No fireplaces; Basement (other)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $899k.

Deal economics

• At list price, monthly cash flow is $-56 ($-669/yr) — negative.
• To cash-flow at today's rent, offer at most $889k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $761k (15.3% below list).
• Recommended offer: $761k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.8% in Spring Lake Heights — 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 72/100 on livability (#235 in NJ) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Wall Township Public School District (suburban): math 36% / reading 58% proficiency, ranked #145 of 472 in NJ (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 26 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 2,840 units permitted in Monmouth County in 2024 (484 in 5+ unit buildings).

Forward outlook

• In year one you build about $96k of equity ($6k loan paydown + $90k appreciation (10.0% local appreciation)).
• Monmouth County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$155k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $761,348 (15.3% 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. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 9.8

CMA / ARV

• ARV (median comp): $955,907
• List price: $899,000
• Delta: -5.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 W Chicago Blvd	0.00mi	3/2.0	1,762 (0%)	1mo	$1,110,000	$630	100
2174 Begonia Ave	0.40mi	3/2.0	1,756 (-0%)	5mo	$750,000	$427	76
1307 W Magnolia Ave	0.26mi	3/2.0	1,816 (+3%)	14mo	$917,000	$505	71
2137 Locust Rd	0.15mi	3/2.0	1,914 (+9%)	18mo	$845,000	$441	64
1104 Sea Girt Ave	0.56mi	3/2.0	1,705 (-3%)	14mo	$955,000	$560	57
1119 New York Ave	0.65mi	4/2.0 (+1)	1,792 (+2%)	18mo	$830,000	$463	47
919 Ocean Rd	0.54mi	4/2.0 (+1)	1,864 (+6%)	19mo	$960,000	$515	44
807 Prospect Ave	0.70mi	3/2.0	1,692 (-4%)	22mo	$999,999	$591	42
1302 Ocean Rd	0.40mi	3/2.0	1,518 (-14%)	20mo	$560,000	$369	42
2077 Benjamin Cir	0.65mi	4/2.5 (+1)	2,016 (+14%)	2mo	$860,300	$427	37
2060 Benjamin Cir	0.63mi	4/2.5 (+1)	2,016 (+14%)	11mo	$715,000	$355	30
2155 Terrace Pl	0.60mi	4/4.0 (+1)	2,016 (+14%)	11mo	$1,545,000	$766	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.93×
• Total profit: $486,096
• Equity at exit: $809,890

10-year hold

• IRR: 21.4%
• Equity multiple: 6.70×
• Total profit: $1,434,320
• Equity at exit: $1,746,559

Cash invested: $251,720 (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 08750

• Home prices YoY: 4.3%
• Active inventory: 26
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $7,613 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$981 /mo · $11,776/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,599
• Net cashflow: $-56

Break-even live

Break-even rent $7,684

Max offer price $889,153

Occupancy floor 96%

Sensitivity live

Price	-10% $453	-5% $199	+0% $-56	+5% $-310	+10% $-565
Rent	-10% $-657	-5% $-356	+0% $-56	+5% $245	+10% $546
Rate	-1.0pp $397	-0.5pp $173	base $-56	+0.5pp $-289	+1.0pp $-526

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
637 Beacon Blvd Sea Girt, NJ	4.0	2.5	1680	$3,795	$2.26	25d	1	0.75mi
714 Philadelphia Blvd Sea Girt, NJ	4.0	2.0	1488	$2,995	$2.01	25d	1	0.76mi
702 Baltimore Blvd Sea Girt, NJ	4.0	2.0	1764	$2,500	$1.42	25d	1	0.78mi
623 Brooklyn Blvd Sea Girt, NJ	4.0	3.5	2096	$3,998	$1.91	25d	1	0.78mi
303 Bell Pl Sea Girt, NJ	3.0	3.0	1690	$3,400	$2.01	14d	1	0.82mi
16 Apple Dr Spring Lake, NJ	2.0	2.5	1539	$5,250	$3.41	2d	1	1.02mi
552 Prospect Ave Spring Lake, NJ	4.0	2.0	2288	$3,500	$1.53	18d	1	1.05mi
407 Chicago Blvd Sea Girt, NJ	4.0	3.5	2624	$7,000	$2.67	0d	1	1.06mi
425 Atlantic Ave Spring Lake, NJ	3.0	2.5	2111	$28,000	$13.26	0d	1	1.20mi
409 Trenton Blvd Sea Girt, NJ	4.0	2.5	2089	$16,000	$7.66	0d	1	1.20mi
506 Monmouth Ave Spring Lake, NJ	3.0	2.5	1680	$6,500	$3.87	0d	1	1.21mi
94 Colby Ave Manasquan, NJ	3.0	2.0	2000	$25,000	$12.50	4d	1	1.26mi
50 Linden Ct Spring Lake, NJ	2.0	2.5	1400	$18,000	$12.86	0d	1	1.27mi
307 Pennsylvania Ave Spring Lake, NJ	4.0	2.0	1508	$9,500	$6.30	44d	1	1.29mi
312 Salem Ave Spring Lake, NJ	4.0	2.0	1480	$6,000	$4.05	44d	1	1.31mi
401 Monmouth Ave Spring Lake, NJ	4.0	3.5	2168	$12,000	$5.54	0d	1	1.32mi
200 Beacon Blvd Sea Girt, NJ	3.0	2.5	2409	$10,000	$4.15	0d	1	1.33mi
4 2nd Ave Sea Girt, NJ	4.0	3.5	2027	$15,000	$7.40	0d	1	1.36mi
202 2nd Ave Sea Girt, NJ	3.0	1.5	1640	$6,500	$3.96	25d	1	1.37mi
113 Beacon Blvd Sea Girt, NJ	4.0	2.5	2575	$7,000	$2.72	0d	1	1.37mi
203 Washington Blvd Sea Girt, NJ	4.0	2.5	2380	$5,000	$2.10	25d	1	1.42mi
10 Chicago Blvd Sea Girt, NJ	4.0	3.0	1996	$10,000	$5.01	2d	1	1.46mi
203 Stockton Blvd Sea Girt, NJ	4.0	2.5	2550	$7,000	$2.75	25d	1	1.47mi
208 Neptune Pl Sea Girt, NJ	4.0	3.5	2147	$16,000	$7.45	0d	1	1.49mi
67 N Farragut Ave Manasquan, NJ	3.0	2.0	1526	$16,000	$10.48	0d	1	1.50mi

Listing history 8 events

1. 2026-04-28
   listed $899,000 Active 730-char remark
2. 1996-07-03
   soldstatus $220,000
3. 1996-06-27
   soldstatus $220,000 90-char remark

   Show marketing remark (90 chars)

   ONE OF WALL'S BEST BUYS! SEA GIRT ESTATES, LOVELY RANCH, ALL UPDATED AND READY TO MOVE IN,

4. 1996-06-27
   soldstatus $220,000

   Show marketing remark (90 chars)

   ONE OF WALL'S BEST BUYS! SEA GIRT ESTATES, LOVELY RANCH, ALL UPDATED AND READY TO MOVE IN,

5. 1996-05-07
   historical

   Show marketing remark (297 chars)

   SEA GIRT AVE. TO OLD MILL RD, WEST ON WEST CHICAGO BOULEVARD ALL APPTS. THRU LISTING BROKER, WONDERFUL RANCH, SPACIOUS FOR ENTERTAINING, NEW WINDOWS (2 YRS AGO), ROOF (2 MO. ), NEW FURNACE & CA (1 1/2 YRS. AGO), A REAL MUST SEE! LARGE PROPERTY, BACKING UP TO PRIVACY, (SCHOOL BOARD PROPERTY.

6. 1996-03-30
   historical 90-char remark

   Show marketing remark (90 chars)

   ONE OF WALL'S BEST BUYS! SEA GIRT ESTATES, LOVELY RANCH, ALL UPDATED AND READY TO MOVE IN,

7. 1996-01-15
   listed $239,000 90-char remark

   Show marketing remark (90 chars)

   ONE OF WALL'S BEST BUYS! SEA GIRT ESTATES, LOVELY RANCH, ALL UPDATED AND READY TO MOVE IN,

8. 1996-01-05
   listed $239,000

   Show marketing remark (297 chars)

   SEA GIRT AVE. TO OLD MILL RD, WEST ON WEST CHICAGO BOULEVARD ALL APPTS. THRU LISTING BROKER, WONDERFUL RANCH, SPACIOUS FOR ENTERTAINING, NEW WINDOWS (2 YRS AGO), ROOF (2 MO. ), NEW FURNACE & CA (1 1/2 YRS. AGO), A REAL MUST SEE! LARGE PROPERTY, BACKING UP TO PRIVACY, (SCHOOL BOARD PROPERTY.

ⓘ 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: $11,776 · $981/mo
• Projected year-2 tax: $17,081 · $1,423/mo
• Expected delta: +$5,304/yr (+$442/mo · 45.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,362
• − Mortgage interest: −$50,358
• − Property taxes: −$11,776
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,309
• − Management: −$7,309
• − Depreciation: −$26,153
• Taxable loss: −$16,038
• Est. tax savings @ 24.0%: +$3,849
• After-tax cash flow: $3,180/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: Wall Township Public School District
• NCES district ID: 3416890
• Math proficiency: 36% ▼ -25.00%
• Reading proficiency: 58% ▼ -10.00%
• Median HH income: $92,842
• Composite: 44.31/100
• National rank: #2831
• State rank: #145 of 472 in NJ

Livability — Spring Lake Heights

• Score: 72/100
• State rank: #235
• US rank: #6442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,624

Population outlook (Monmouth County) Hauer SSP2

• Today (2025): 620,308 people
• By 2030: 612,309 · -1.3%
• By 2040: 587,297 · -5.3%
• By 2050: 551,342 · -11.1%
• By 2075: 472,934 · -23.8%
• By 2100: 381,534 · -38.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Monmouth

• 2024 margin: R (+11.4) · D 43.4% · R 54.8% · Other 1.8%
• 2008→2024 swing: -7.7pp toward R · 2008: -3.7pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: R+2.8 2016: R+9.5 2012: R+5.5 2008: R+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.07%
• Current HPI: 461.2828
• 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

+364.4% since first listed

10 events — show timeline

• 2026-06-03 Sold (MLS) $1,110,000 MOMLS
• 2026-05-19 Pending — MOMLS
• 2026-04-28 Listed $899,000 MOMLS
• 1996-07-03 Sold (Public Records) $220,000 Public Records
• 1996-06-27 Sold (MLS) $220,000 MOMLS
• 1996-06-27 Sold (MLS) $220,000 MOMLS
• 1996-05-07 Delisted — MOMLS
• 1996-03-30 Delisted — MOMLS
• 1996-01-15 Listed $239,000 MOMLS
• 1996-01-05 Listed $239,000 MOMLS

Property tax history

+2.9%/yr

Latest (2025): $11,776 · +5.2% YoY. Source: county tax records.