352 N Connecticut Ave · Atlantic City, NJ 08401

$215,000

4 bd · 2.0 ba · 1,610 sqft · SingleFamily public records · 36 Days on market

Built 1900 Est $336k · 36% under

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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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 2-bath attached single-family home located in Atlantic City. This two-story property offers generously sized rooms, a functional layout, and plenty of space for comfortable living. Conveniently located near major roadways, shopping, dining, and Atlantic City attractions. Ideal for owner-occupants or investors. Schedule your showing today!

Key facts

• Listed 35 days

Property features AI

Finance

• Other: Not bank owned/foreclosure
• Financial info: No financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: See remarks for exterior parking; No garage
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Property listed for sale
• Construction: No construction details provided
• Exterior features: Lot dimensions approximately 19.5 x 100; Lot less than 1 acre; Not waterfront

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Bedrooms not specified
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Window air conditioning units
• Interior features: 7 total rooms
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.7% in Atlantic City — 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 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; 11 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 $2,715/mo this rent would consume 79% 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 $1k of loan paydown is wiped out by about $6k 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 36 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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 $78k; list at $215k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1900 — 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1900 — 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 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: 1.26% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $336,490
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 N Connecticut Ave	0.26mi	3/2.5 (-1)	1,592 (-1%)	9mo	$420,000	$264	72
531 Melrose Ave	0.07mi	3/2.0 (-1)	1,568 (-3%)	23mo	$290,000	$185	68
226 N Massachusetts Ave	0.13mi	3/2.5 (-1)	1,694 (+5%)	16mo	$225,000	$133	65
710 Sewell Ave	0.18mi	3/1.5 (-1)	1,546 (-4%)	16mo	$162,500	$105	65
349 N North Carolina Ave	0.43mi	3/1.5 (-1)	1,750 (+9%)	11mo	$249,900	$143	49
103 Chesapeake Bay Ct	0.31mi	3/2.0 (-1)	1,434 (-11%)	16mo	$300,000	$209	49
500B Caspian Ave	0.12mi	3/1.5 (-1)	1,374 (-15%)	16mo	$311,999	$227	49
114 N Maryland Ave	0.33mi	4/2.5	1,422 (-12%)	17mo	$290,000	$204	49
407 Grammercy Pl	0.30mi	3/1.5 (-1)	1,416 (-12%)	13mo	$345,000	$244	48
126 N New Hampshire Ave	0.37mi	3/2.5 (-1)	1,452 (-10%)	16mo	$501,495	$345	46
304 Madison Ave	0.29mi	3/2.5 (-1)	1,452 (-10%)	22mo	$240,000	$165	44
26 N New Hampshire Ave	0.42mi	3/2.5 (-1)	1,500 (-7%)	22mo	$490,000	$327	44

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: -4.6%
• Equity multiple: 0.82×
• Total profit: $-10,579
• Equity at exit: $32,057

10-year hold

• IRR: 8.4%
• Equity multiple: 1.73×
• Total profit: $44,221
• Equity at exit: $18,589

Cash invested: $60,200 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,715 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$236 /mo · $2,829/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $266

Break-even live

Break-even rent $2,379

Max offer price $215,000

Occupancy floor 85%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Barrett Ave Unit A Atlantic City, NJ	4.0	3.5	2156	$3,500	$1.62	21d	1	0.28mi
10 Starboard Ct #10 Atlantic City, NJ	3.0	2.5	1680	$2,400	$1.43	13d	1	0.32mi
326 N Tennessee Ave Unit 2 Atlantic City, NJ	3.0	1.0	1815	$2,200	$1.21	13d	1	0.59mi
122 Dewey Pl Atlantic City, NJ	3.0	1.0	1250	$2,700	$2.16	21d	1	0.68mi
5217 Harbor Beach Blvd Brigantine, NJ	3.0	2.5	2200	$2,900	$1.32	21d	1	1.06mi
905 Keener Ave Atlantic City, NJ	3.0	1.0	1059	$1,900	$1.79	21d	1	1.09mi
2015 Grant Ave Atlantic City, NJ	3.0	1.0	1056	$2,325	$2.20	21d	1	1.10mi
1216 N Ohio Ave Atlantic City, NJ	5.0	2.0	1355	$2,900	$2.14	21d	1	1.11mi
2402 Auburn Ter Unit B Atlantic City, NJ	3.0	1.0	1893	$2,000	$1.06	21d	1	1.40mi
1532 Emerson Pl Fl Front Atlantic City, NJ	3.0	2.0	1200	$2,400	$2.00	13d	1	1.46mi
433 Albacore Ln Brigantine, NJ	3.0	2.5	1900	$2,750	$1.45	21d	1	1.50mi

Listing history 35 events

1. 2026-06-19
   days on market $215,000 Active 36 DOM
2. 2026-06-18
   days on market $215,000 Active 35 DOM
3. 2026-06-17
   days on market $215,000 Active 34 DOM
4. 2026-06-16
   days on market $215,000 Active 33 DOM
5. 2026-06-15
   days on market $215,000 Active 32 DOM
6. 2026-06-14
   days on market $215,000 Active 30 DOM
7. 2026-06-13
   days on market $215,000 Active 29 DOM
8. 2026-06-10
   days on market $215,000 Active 27 DOM
9. 2026-06-09
   days on market $215,000 Active 26 DOM
10. 2026-06-08
    days on market $215,000 Active 25 DOM
11. 2026-06-07
    days on market $215,000 Active 24 DOM
12. 2026-06-02
    days on market $215,000 Active 19 DOM
13. 2026-06-01
    days on market $215,000 Active 18 DOM
14. 2026-05-31
    days on market $215,000 Active 17 DOM
15. 2026-05-30
    days on market $215,000 Active 16 DOM
16. 2026-05-14
    listed $215,000 Active 360-char remark

    Show marketing remark (360 chars)

    Spacious 4-bedroom, 2-bath attached single-family home located in Atlantic City. This two-story property offers generously sized rooms, a functional layout, and plenty of space for comfortable living. Conveniently located near major roadways, shopping, dining, and Atlantic City attractions. Ideal for owner-occupants or investors. Schedule your showing today!

17. 2026-05-14
    historical 360-char remark

    Show marketing remark (360 chars)

    Spacious 4-bedroom, 2-bath attached single-family home located in Atlantic City. This two-story property offers generously sized rooms, a functional layout, and plenty of space for comfortable living. Conveniently located near major roadways, shopping, dining, and Atlantic City attractions. Ideal for owner-occupants or investors. Schedule your showing today!

18. 2026-03-26
    price $239,000 360-char remark

    Show marketing remark (360 chars)

    Spacious 4-bedroom, 2-bath attached single-family home located in Atlantic City. This two-story property offers generously sized rooms, a functional layout, and plenty of space for comfortable living. Conveniently located near major roadways, shopping, dining, and Atlantic City attractions. Ideal for owner-occupants or investors. Schedule your showing today!

19. 2026-01-16
    listed $250,000 Active 360-char remark

    Show marketing remark (360 chars)

    Spacious 4-bedroom, 2-bath attached single-family home located in Atlantic City. This two-story property offers generously sized rooms, a functional layout, and plenty of space for comfortable living. Conveniently located near major roadways, shopping, dining, and Atlantic City attractions. Ideal for owner-occupants or investors. Schedule your showing today!

20. 2022-07-26
    soldstatus $77,500 Sold

    Show marketing remark (177 chars)

    4 bedroom row home. 354 N. Connecticut is also available under MLS#552987. Own the whole building and do an Air bnb. Super LOW taxes, currently rented month to month for $1,400.

21. 2022-02-04
    historical Under Contract

    Show marketing remark (177 chars)

    4 bedroom row home. 354 N. Connecticut is also available under MLS#552987. Own the whole building and do an Air bnb. Super LOW taxes, currently rented month to month for $1,400.

22. 2022-01-27
    price $98,000

    Show marketing remark (177 chars)

    4 bedroom row home. 354 N. Connecticut is also available under MLS#552987. Own the whole building and do an Air bnb. Super LOW taxes, currently rented month to month for $1,400.

23. 2021-09-03
    status Active

    Show marketing remark (177 chars)

    4 bedroom row home. 354 N. Connecticut is also available under MLS#552987. Own the whole building and do an Air bnb. Super LOW taxes, currently rented month to month for $1,400.

24. 2021-08-03
    historical Under Contract

    Show marketing remark (177 chars)

    4 bedroom row home. 354 N. Connecticut is also available under MLS#552987. Own the whole building and do an Air bnb. Super LOW taxes, currently rented month to month for $1,400.

25. 2021-07-27
    listed $99,000 Active

    Show marketing remark (177 chars)

    4 bedroom row home. 354 N. Connecticut is also available under MLS#552987. Own the whole building and do an Air bnb. Super LOW taxes, currently rented month to month for $1,400.

26. 2020-07-19
    historical Under Contract
27. 2020-07-15
    historical
28. 2020-06-24
    listed $79,000 Active
29. 2018-08-09
    historical
30. 2018-02-08
    listed $95,000 Active
31. 2004-08-26
    soldstatus $127,500
32. 2004-08-05
    soldstatus $127,500
33. 2004-07-09
    historical
34. 2004-06-08
    listed $134,900
35. 1997-10-24
    soldstatus $67,000

ⓘ 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: $2,829 · $236/mo
• Projected year-2 tax: $4,091 · $341/mo
• Expected delta: +$1,262/yr (+$105/mo · 44.6%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,583
• − Mortgage interest: −$12,043
• − Property taxes: −$2,829
• − Insurance: −$6,194
• − Repairs & maintenance: −$2,607
• − Management: −$2,607
• − Depreciation: −$6,255
• Taxable income: $49
• Est. tax owed @ 24.0%: −$12
• After-tax cash flow: $3,176/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

+220.9% since first listed

20 events — show timeline

• 2026-05-14 Listing Removed — SJSRMLS
• 2026-05-14 Listed $215,000 SJSRMLS
• 2026-03-26 Price Changed $239,000 SJSRMLS
• 2026-01-16 Listed $250,000 SJSRMLS
• 2022-07-26 Sold (MLS) $77,500 SJSRMLS
• 2022-02-04 Contingent — SJSRMLS
• 2022-01-27 Price Changed $98,000 SJSRMLS
• 2021-09-03 Relisted — SJSRMLS
• 2021-08-03 Contingent — SJSRMLS
• 2021-07-27 Listed $99,000 SJSRMLS
• 2020-07-19 Contingent — SJSRMLS
• 2020-07-15 Listing Removed — SJSRMLS
• 2020-06-24 Listed $79,000 SJSRMLS
• 2018-08-09 Listing Removed — SJSRMLS
• 2018-02-08 Listed $95,000 SJSRMLS
• 2004-08-26 Sold (Public Records) $127,500 Public Records
• 2004-08-05 Sold (MLS) $127,500 SJSRMLS
• 2004-07-09 Listing Removed — SJSRMLS
• 2004-06-08 Listed $134,900 SJSRMLS
• 1997-10-24 Sold (Public Records) $67,000 Public Records

Property tax history

-3.1%/yr

Latest (2025): $2,829 · -2.1% YoY. Source: county tax records.