111 Oriental Ave · Atlantic City, NJ 08401

$799,000

None bd · None ba · 4,620 sqft · MultiFamily public records · 232 Days on market

Built 1950

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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
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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 MLS

Opportunity meets vision at 111 Oriental Avenue, a property positioned just steps from the Atlantic City Boardwalk and the oceanfront. The structure has already been gutted and fit out for six units - five two-bedroom, one one-bedroom - all with one bath, in accordance with the City's current six-unit limit. A variance would be required for any additional units, including the potential to reactivate the basement level which was once utilized for living space. The groundwork has been laid with all brand-new windows installed, plywood flooring in place, and a full basement offering added flexibility pending approvals. What makes this offering compelling is not only the existing configuration, but the location. With direct ocean views, immediate access to the beach, and proximity to the Ocean Casino Resort and the surrounding corridor of redevelopment, this is the kind of project where smart capital and strong execution will capture the momentum of a market in transition. The area is benefiting from ongoing investment and revitalization, creating the conditions for significant upside in both short-term rental strategies such as Airbnb and long-term, stabilized income approaches.

Key facts

• Direct ocean views
• Brand-new windows
• Full basement

Tags

• DIRECT OCEAN VIEWS
• IMMEDIATE ACCESS TO THE BEACH
• FULL BASEMENT
• BRAND-NEW WINDOWS
• PLYWOOD FLOORING

What this means for you Summary

Snapshot

• This is a 5×2bd/1ba + 1×1bd/1ba units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $5k ($54k/yr) — positive. Per door: $756/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $799k).
• Recommended offer: $703k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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; lower-income renter base — watch delinquency; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $12,723/mo this rent would consume 371% 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 $6k of loan paydown is wiped out by about $24k 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 + 5.5% rent growth), your $224k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($703k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $200k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $425k; list at $799k implies a 88% 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 8→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $703,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.59% ✓
• Cap rate: 13.75%
• Cash-on-cash: 26.63%
• DSCR: 2.18
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.52% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.86×
• Total profit: $192,834
• Equity at exit: $119,133

10-year hold

• IRR: 30.3%
• Equity multiple: 4.06×
• Total profit: $683,772
• Equity at exit: $69,083

Cash invested: $223,720 (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 08401

• Home prices YoY: -7.0%
• Rents YoY: 5.5%
• Active inventory: 482
• Price-to-rent: 30.5×

Monthly cashflow live

• Estimated rent: $12,723 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$563 /mo · $6,760/yr
• Insurance: −$333
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,672
• Net cashflow: $4,538

Break-even live

Break-even rent $6,978

Max offer price $799,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$10,925
1× unit	1	1	$1,796
Total (6 units)			$12,723

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $799,000 Active 232 DOM
2. 2026-06-18
   days on market $799,000 Active 231 DOM
3. 2026-06-17
   days on market $799,000 Active 230 DOM
4. 2026-06-16
   days on market $799,000 Active 229 DOM
5. 2026-06-15
   days on market $799,000 Active 228 DOM
6. 2026-06-14
   days on market $799,000 Active 226 DOM
7. 2026-06-13
   days on market $799,000 Active 225 DOM
8. 2026-06-10
   days on market $799,000 Active 223 DOM
9. 2026-06-09
   days on market $799,000 Active 222 DOM
10. 2026-06-08
    days on market $799,000 Active 221 DOM
11. 2026-06-07
    days on market $799,000 Active 220 DOM
12. 2026-06-02
    days on market $799,000 Active 215 DOM
13. 2026-06-01
    days on market $799,000 Active 214 DOM
14. 2026-05-31
    days on market $799,000 Active 213 DOM
15. 2026-05-30
    days on market $799,000 Active 212 DOM
16. 2026-04-22
    price $799,000 1194-char remark

    Show marketing remark (1194 chars)

    Opportunity meets vision at 111 Oriental Avenue, a property positioned just steps from the Atlantic City Boardwalk and the oceanfront. The structure has already been gutted and fit out for six units - five two-bedroom, one one-bedroom - all with one bath, in accordance with the City's current six-unit limit. A variance would be required for any additional units, including the potential to reactivate the basement level which was once utilized for living space. The groundwork has been laid with all brand-new windows installed, plywood flooring in place, and a full basement offering added flexibility pending approvals. What makes this offering compelling is not only the existing configuration, but the location. With direct ocean views, immediate access to the beach, and proximity to the Ocean Casino Resort and the surrounding corridor of redevelopment, this is the kind of project where smart capital and strong execution will capture the momentum of a market in transition. The area is benefiting from ongoing investment and revitalization, creating the conditions for significant upside in both short-term rental strategies such as Airbnb and long-term, stabilized income approaches.

17. 2025-10-09
    listed $999,000 Active 1194-char remark

    Show marketing remark (1194 chars)

    Opportunity meets vision at 111 Oriental Avenue, a property positioned just steps from the Atlantic City Boardwalk and the oceanfront. The structure has already been gutted and fit out for six units - five two-bedroom, one one-bedroom - all with one bath, in accordance with the City's current six-unit limit. A variance would be required for any additional units, including the potential to reactivate the basement level which was once utilized for living space. The groundwork has been laid with all brand-new windows installed, plywood flooring in place, and a full basement offering added flexibility pending approvals. What makes this offering compelling is not only the existing configuration, but the location. With direct ocean views, immediate access to the beach, and proximity to the Ocean Casino Resort and the surrounding corridor of redevelopment, this is the kind of project where smart capital and strong execution will capture the momentum of a market in transition. The area is benefiting from ongoing investment and revitalization, creating the conditions for significant upside in both short-term rental strategies such as Airbnb and long-term, stabilized income approaches.

18. 2022-04-08
    historical 317-char remark

    Show marketing remark (317 chars)

    Great opportunity awaits here in the heart of AC! Great location right down the street from Ocean Casino. Direct beach front multi family unit. Great for Air B & B or even yearly rentals. Each unit has 1-2 bed rooms. totaling 6 units. Property is currently under construction. So there will be no showings inside.

19. 2021-09-22
    price $1,300,900 317-char remark

    Show marketing remark (317 chars)

    Great opportunity awaits here in the heart of AC! Great location right down the street from Ocean Casino. Direct beach front multi family unit. Great for Air B & B or even yearly rentals. Each unit has 1-2 bed rooms. totaling 6 units. Property is currently under construction. So there will be no showings inside.

20. 2021-07-23
    listed $1,500,000 Active 317-char remark

    Show marketing remark (317 chars)

    Great opportunity awaits here in the heart of AC! Great location right down the street from Ocean Casino. Direct beach front multi family unit. Great for Air B & B or even yearly rentals. Each unit has 1-2 bed rooms. totaling 6 units. Property is currently under construction. So there will be no showings inside.

21. 2020-09-01
    historical
22. 2020-03-26
    listed $1,300,000 Active
23. 2005-02-16
    soldstatus $425,000
24. 2000-08-28
    soldstatus $162,500

ⓘ 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: $6,760 · $563/mo
• Projected year-2 tax: $13,328 · $1,111/mo
• Expected delta: +$6,568/yr (+$547/mo · 97.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 86% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 8 d/yr ≥94°F today · 18 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: $152,676
• − Mortgage interest: −$44,756
• − Property taxes: −$6,760
• − Insurance: −$9,114
• − Repairs & maintenance: −$12,214
• − Management: −$12,214
• − Depreciation: −$23,244
• Taxable income: $44,374
• Est. tax owed @ 24.0%: −$10,650
• After-tax cash flow: $43,810/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

+391.7% since first listed

9 events — show timeline

• 2026-04-22 Price Changed $799,000 SJSRMLS
• 2025-10-09 Listed $999,000 SJSRMLS
• 2022-04-08 Listing Removed — SJSRMLS
• 2021-09-22 Price Changed $1,300,900 SJSRMLS
• 2021-07-23 Listed $1,500,000 SJSRMLS
• 2020-09-01 Listing Removed — SJSRMLS
• 2020-03-26 Listed $1,300,000 SJSRMLS
• 2005-02-16 Sold (Public Records) $425,000 Public Records
• 2000-08-28 Sold (Public Records) $162,500 Public Records

Property tax history

-3.5%/yr

Latest (2025): $6,760 · -2.1% YoY. Source: county tax records.