719 E 11th St #810 · Ocean City, NJ 08226

$335,000

1 bd · 1.0 ba · 580 sqft · Condo public records · 262 Days on market

Built 1925 $625/mo HOA · 9% of rent

---

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 +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to The FLANDERS Condominium Hotel and this SPACIOUS 1 bedroom, 1 bath CONDO! Located on the 8th floor, the VIEWS are incredible. Enter to find a SPACIOUS living room with an adjoining dining area. The UPDATED kitchen shines with granite countertops, a TRENDY backsplash, white cabinets, a dishwasher, a fridge, a cooktop, and a microwave. The bedroom easily holds a KING-sized suite, 2 closets, and a window with a VIEW of Ocean City. The modern bathroom boasts a vanity with open storage and a tub/shower. This ICONIC, boardwalk-fronted building is steeped in tradition and loaded with amenities. This is THE place to be, offering all the conveniences of hotel living such as daily check-ins at the front desk, daily maid and linen service, a concierge, heated pool, fitness room, onsite restaurant, banquet center, spa, and a gift shop. Need more? The condo fee covers water, sewer, flood and building insurance, cable, phone, wifi, and common area maintenance. Rentals MUST go through Flanders on-site management, no outside rentals allowed. Year-round residency is not permitted, owner usage is limited to 200 nights per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the year. If not renting owners can stay any 200 nights per year. There’s no location better than this - right on the BOARDWALK, BEACH, and OCEAN with everything within minutes!

Key facts

• Onsite restaurant
• Updated kitchen
• Fitness room

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• TRENDY BACKSPLASH
• HEATED POOL
• FITNESS ROOM
• ONSITE RESTAURANT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $335k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $335k).
• Recommended offer: $295k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 3.3% in Ocean 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 80/100 on livability (#72 in NJ, #1,762 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, health & safety A+; Watch: housing D+, cost of living F.
• Ocean City School District (urban): math 31% / reading 53% proficiency, ranked #212 of 472 in NJ (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 419 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k 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 $94k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $235k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $294,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
9. 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.
10. 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.
11. 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: 2.03% ✓
• Cap rate: 15.77%
• Cash-on-cash: 33.83%
• DSCR: 2.51
• GRM: 4.1

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: 28.2%
• Equity multiple: 2.18×
• Total profit: $110,329
• Equity at exit: $49,950

10-year hold

• IRR: 35.7%
• Equity multiple: 4.30×
• Total profit: $309,150
• Equity at exit: $28,965

Cash invested: $93,800 (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 08226

• Active inventory: 419
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $6,807 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$212 /mo · $2,540/yr
• Insurance: −$140
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$625
• Vacancy / Maint / Mgmt: −$1,430
• Net cashflow: $2,578

Break-even live

Break-even rent $3,544

Max offer price $335,000

Occupancy floor 57%

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
714 West Ave Unit 1308989P Ocean City, NJ	2.0	1.0	742	$6,384	$8.60	44d	1	0.52mi
200 Bay Ave Unit 200 Ocean City, NJ	1.0	1.0	425	$7,800	$18.35	21d	1	1.15mi

HOA detail condo

• Monthly dues: $625 · $7,500/yr
• Likely covers: watersewerinternetcableinsurancepooldoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-05-31
   days on market $335,000 Active 262 DOM
2. 2026-03-11
   price $335,000 1471-char remark

   Show marketing remark (1471 chars)

   Welcome to The FLANDERS Condominium Hotel and this SPACIOUS 1 bedroom, 1 bath CONDO! Located on the 8th floor, the VIEWS are incredible. Enter to find a SPACIOUS living room with an adjoining dining area. The UPDATED kitchen shines with granite countertops, a TRENDY backsplash, white cabinets, a dishwasher, a fridge, a cooktop, and a microwave. The bedroom easily holds a KING-sized suite, 2 closets, and a window with a VIEW of Ocean City. The modern bathroom boasts a vanity with open storage and a tub/shower. This ICONIC, boardwalk-fronted building is steeped in tradition and loaded with amenities. This is THE place to be, offering all the conveniences of hotel living such as daily check-ins at the front desk, daily maid and linen service, a concierge, heated pool, fitness room, onsite restaurant, banquet center, spa, and a gift shop. Need more? The condo fee covers water, sewer, flood and building insurance, cable, phone, wifi, and common area maintenance. Rentals MUST go through Flanders on-site management, no outside rentals allowed. Year-round residency is not permitted, owner usage is limited to 200 nights per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the year. If not renting owners can stay any 200 nights per year. There’s no location better than this - right on the BOARDWALK, BEACH, and OCEAN with everything within minutes!

3. 2025-09-11
   listed $349,900 Active 1471-char remark

   Show marketing remark (1471 chars)

   Welcome to The FLANDERS Condominium Hotel and this SPACIOUS 1 bedroom, 1 bath CONDO! Located on the 8th floor, the VIEWS are incredible. Enter to find a SPACIOUS living room with an adjoining dining area. The UPDATED kitchen shines with granite countertops, a TRENDY backsplash, white cabinets, a dishwasher, a fridge, a cooktop, and a microwave. The bedroom easily holds a KING-sized suite, 2 closets, and a window with a VIEW of Ocean City. The modern bathroom boasts a vanity with open storage and a tub/shower. This ICONIC, boardwalk-fronted building is steeped in tradition and loaded with amenities. This is THE place to be, offering all the conveniences of hotel living such as daily check-ins at the front desk, daily maid and linen service, a concierge, heated pool, fitness room, onsite restaurant, banquet center, spa, and a gift shop. Need more? The condo fee covers water, sewer, flood and building insurance, cable, phone, wifi, and common area maintenance. Rentals MUST go through Flanders on-site management, no outside rentals allowed. Year-round residency is not permitted, owner usage is limited to 200 nights per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the year. If not renting owners can stay any 200 nights per year. There’s no location better than this - right on the BOARDWALK, BEACH, and OCEAN with everything within minutes!

4. 2025-09-01
   historical 1471-char remark

   Show marketing remark (1471 chars)

   Welcome to The FLANDERS Condominium Hotel and this SPACIOUS 1 bedroom, 1 bath CONDO! Located on the 8th floor, the VIEWS are incredible. Enter to find a SPACIOUS living room with an adjoining dining area. The UPDATED kitchen shines with granite countertops, a TRENDY backsplash, white cabinets, a dishwasher, a fridge, a cooktop, and a microwave. The bedroom easily holds a KING-sized suite, 2 closets, and a window with a VIEW of Ocean City. The modern bathroom boasts a vanity with open storage and a tub/shower. This ICONIC, boardwalk-fronted building is steeped in tradition and loaded with amenities. This is THE place to be, offering all the conveniences of hotel living such as daily check-ins at the front desk, daily maid and linen service, a concierge, heated pool, fitness room, onsite restaurant, banquet center, spa, and a gift shop. Need more? The condo fee covers water, sewer, flood and building insurance, cable, phone, wifi, and common area maintenance. Rentals MUST go through Flanders on-site management, no outside rentals allowed. Year-round residency is not permitted, owner usage is limited to 200 nights per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the year. If not renting owners can stay any 200 nights per year. There’s no location better than this - right on the BOARDWALK, BEACH, and OCEAN with everything within minutes!

5. 2025-04-21
   price $354,900 1471-char remark

   Show marketing remark (1471 chars)

   Welcome to The FLANDERS Condominium Hotel and this SPACIOUS 1 bedroom, 1 bath CONDO! Located on the 8th floor, the VIEWS are incredible. Enter to find a SPACIOUS living room with an adjoining dining area. The UPDATED kitchen shines with granite countertops, a TRENDY backsplash, white cabinets, a dishwasher, a fridge, a cooktop, and a microwave. The bedroom easily holds a KING-sized suite, 2 closets, and a window with a VIEW of Ocean City. The modern bathroom boasts a vanity with open storage and a tub/shower. This ICONIC, boardwalk-fronted building is steeped in tradition and loaded with amenities. This is THE place to be, offering all the conveniences of hotel living such as daily check-ins at the front desk, daily maid and linen service, a concierge, heated pool, fitness room, onsite restaurant, banquet center, spa, and a gift shop. Need more? The condo fee covers water, sewer, flood and building insurance, cable, phone, wifi, and common area maintenance. Rentals MUST go through Flanders on-site management, no outside rentals allowed. Year-round residency is not permitted, owner usage is limited to 200 nights per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the year. If not renting owners can stay any 200 nights per year. There’s no location better than this - right on the BOARDWALK, BEACH, and OCEAN with everything within minutes!

6. 2024-12-06
   listed $364,900 Active 1471-char remark

   Show marketing remark (1471 chars)

   Welcome to The FLANDERS Condominium Hotel and this SPACIOUS 1 bedroom, 1 bath CONDO! Located on the 8th floor, the VIEWS are incredible. Enter to find a SPACIOUS living room with an adjoining dining area. The UPDATED kitchen shines with granite countertops, a TRENDY backsplash, white cabinets, a dishwasher, a fridge, a cooktop, and a microwave. The bedroom easily holds a KING-sized suite, 2 closets, and a window with a VIEW of Ocean City. The modern bathroom boasts a vanity with open storage and a tub/shower. This ICONIC, boardwalk-fronted building is steeped in tradition and loaded with amenities. This is THE place to be, offering all the conveniences of hotel living such as daily check-ins at the front desk, daily maid and linen service, a concierge, heated pool, fitness room, onsite restaurant, banquet center, spa, and a gift shop. Need more? The condo fee covers water, sewer, flood and building insurance, cable, phone, wifi, and common area maintenance. Rentals MUST go through Flanders on-site management, no outside rentals allowed. Year-round residency is not permitted, owner usage is limited to 200 nights per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the year. If not renting owners can stay any 200 nights per year. There’s no location better than this - right on the BOARDWALK, BEACH, and OCEAN with everything within minutes!

7. 2011-05-31
   historical
8. 2010-07-23
   listed $239,900
9. 2008-04-04
   soldstatus $235,000
10. 2008-03-21
    soldstatus $235,000
11. 2008-02-06
    historical
12. 2007-09-26
    listed $238,999
13. 2005-05-09
    soldstatus $290,000
14. 2005-05-04
    soldstatus $290,000
15. 2005-04-01
    historical
16. 2005-03-30
    listed $290,000
17. 1997-08-15
    soldstatus $129,000

ⓘ 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: $2,540 · $212/mo
• Projected year-2 tax: $5,441 · $453/mo
• Expected delta: +$2,901/yr (+$242/mo · 114.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 77% 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: $81,688
• − Mortgage interest: −$18,765
• − Property taxes: −$2,540
• − Insurance: −$2,472
• − Repairs & maintenance: −$6,535
• − Management: −$6,535
• − HOA: −$7,500
• − Depreciation: −$9,745
• Taxable income: $27,595
• Est. tax owed @ 24.0%: −$6,623
• After-tax cash flow: $24,317/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: Ocean City School District
• NCES district ID: 3411970
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $60,444
• Composite: 37.07/100
• National rank: #4506
• State rank: #212 of 472 in NJ

Livability — Ocean City

• Score: 80/100
• State rank: #72
• US rank: #1762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, NJ
• City population: 11,260
• Population (ZIP): 11,260

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Black 2% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -381.90%
• Current HPI: 389.3687
• 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

+159.7% since first listed

16 events — show timeline

• 2026-03-11 Price Changed $335,000 SJSRMLS
• 2025-09-11 Listed $349,900 SJSRMLS
• 2025-09-01 Listing Removed — SJSRMLS
• 2025-04-21 Price Changed $354,900 SJSRMLS
• 2024-12-06 Listed $364,900 SJSRMLS
• 2011-05-31 Listing Removed — SJSRMLS
• 2010-07-23 Listed $239,900 SJSRMLS
• 2008-04-04 Sold (Public Records) $235,000 Public Records
• 2008-03-21 Sold (MLS) $235,000 SJSRMLS
• 2008-02-06 Listing Removed — SJSRMLS
• 2007-09-26 Listed $238,999 SJSRMLS
• 2005-05-09 Sold (Public Records) $290,000 Public Records
• 2005-05-04 Sold (MLS) $290,000 SJSRMLS
• 2005-04-01 Listing Removed — SJSRMLS
• 2005-03-30 Listed $290,000 SJSRMLS
• 1997-08-15 Sold (Public Records) $129,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,540 · +3.4% YoY. Source: county tax records.