21 S Monroe B8 Ave #8B · Margate City, NJ 08402

$595,000

2 bd · 1.0 ba · 845 sqft · SingleFamily public records · 22 Days on market

Built 1972 $704/sqft · 21% above area Est $492k · 21% over $410/mo HOA · 5% of rent

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just one block from the beach, this beautifully renovated 2-bedroom, 1-bath second-floor retreat in Margate Oceanview Condominiums is the perfect shore escape! Offered fully furnished with brand-new furniture — including two pullout couches — this move-in-ready gem has been completely updated from top to bottom. Enjoy a stunning new kitchen with marble backsplash, full bath with elegant tile shower & Bluetooth speaker exhaust fan, new flooring, modern lighting, with dimmable movie theatre feature , fresh paint, updated doors and trim, a new hot water heater, and energy-efficient AC wall units with heat. The convenient all-in-one ventless washer/dryer combo adds even more ease to beach living. Plus, your dedicated parking spot is just steps from the unit. Simply unpack, unwind, and start making memories at the shore!

Key facts

• Fresh paint
• Stunning new kitchen
• New flooring

Tags

• STUNNING NEW KITCHEN
• NEW FLOORING
• MODERN LIGHTING
• DIMMABLE MOVIE THEATRE FEATURE
• FRESH PAINT
• UPDATED DOORS AND TRIM

Property features AI

Finance

• Other: For sale
• HOA & community: Monthly association fee of $410; Association covers insurance, maintenance, management, and trash; Managed by off-site professionals

Exterior

• Parking: One assigned exterior parking space; No garage
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Condo (Margate Ocean); Second-floor unit; Single-level unit; 2-story building
• Exterior features: Pets allowed with restrictions; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric stove; Microwave; Refrigerator
• Bedrooms: Second floor unit
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall air conditioning units; Space/wall/floor heating
• Interior features: Furnished; Eat-in kitchen
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $595k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $595k).
• Recommended offer: $586k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 7.4% in Margate 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 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Margate City School District (suburban): math 50% / reading 58% proficiency, ranked #113 of 472 in NJ (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $8,809/mo this rent would consume 87% of the median local household income ($122k/yr) (locally 23% 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 $4k of loan paydown is wiped out by about $18k 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 + 8.0% rent growth), your $167k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($586k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $430k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $586,075 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.48% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.66%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $492,235
• List price: $595,000
• Delta: 23.92%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 1.80×
• Total profit: $132,931
• Equity at exit: $88,716

10-year hold

• IRR: 30.2%
• Equity multiple: 4.38×
• Total profit: $563,344
• Equity at exit: $51,445

Cash invested: $166,600 (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 08402

• Rents YoY: 8.9%
• Active inventory: 147
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $8,809 medium
• Mortgage (P&I): −$3,120
• Tax from tax record: −$313 /mo · $3,753/yr
• Insurance: −$248
• HOA: −$410
• Vacancy / Maint / Mgmt: −$1,850
• Net cashflow: $2,868

Break-even live

Break-even rent $5,178

Max offer price $595,000

Occupancy floor 62%

Sensitivity live

Price	-10% $3,205	-5% $3,037	+0% $2,868	+5% $2,700	+10% $2,531
Rent	-10% $2,172	-5% $2,520	+0% $2,868	+5% $3,216	+10% $3,564
Rate	-1.0pp $3,168	-0.5pp $3,019	base $2,868	+0.5pp $2,714	+1.0pp $2,557

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9400 Atlantic Ave Margate City, NJ	1.0–2.0	1.0–1.5	1020	$26,000	$25.49	21d	4	0.14mi
9400 Atlantic Ave Margate City, NJ	2.0	1.0–1.5	917	$28,000	$30.52	13d	6	0.14mi
16 N Monroe Ave Unit B4 SUMMER Margate City, NJ	2.0	2.0	919	$28,000	$30.47	44d	1	0.15mi
16 N Monroe Ave Unit B4 JUNE Margate City, NJ	2.0	2.0	919	$6,000	$6.53	44d	1	0.15mi
16 N Monroe Ave Unit B4 AUG Margate City, NJ	2.0	2.0	919	$11,000	$11.97	44d	1	0.15mi
126 N Washington Ave Unit A Margate City, NJ	2.0	2.0	1100	$3,575	$3.25	44d	1	0.31mi
9101 Atlantic Ave #106 Margate City, NJ	2.0	2.0	1108	$10,000	$9.03	44d	1	0.31mi
9500 Amherst Ave Unit B 7 Margate City, NJ	1.0	1.0	630	$15,000	$23.81	21d	1	0.35mi

HOA detail

• Monthly dues: $410 · $4,920/yr
• Likely covers: water

Listing history 20 events

1. 2026-06-19
   days on market $595,000 Under Contract 22 DOM
2. 2026-06-18
   days on market $595,000 Under Contract 21 DOM
3. 2026-06-17
   days on market $595,000 Under Contract 20 DOM
4. 2026-06-16
   days on market $595,000 Under Contract 19 DOM
5. 2026-06-15
   days on market $595,000 Under Contract 18 DOM
6. 2026-06-14
   days on market $595,000 Under Contract 16 DOM
7. 2026-06-13
   statusdays on market $595,000 Under Contract 15 DOM
8. 2026-06-10
   days on market $595,000 Active 13 DOM
9. 2026-06-09
   days on market $595,000 Active 12 DOM
10. 2026-06-08
    days on market $595,000 Active 11 DOM
11. 2026-06-07
    days on market $595,000 Active 10 DOM
12. 2026-06-05
    days on market $595,000 Active 7 DOM
13. 2026-06-02
    days on market $595,000 Active 5 DOM
14. 2026-06-01
    days on market $595,000 Active 4 DOM
15. 2026-05-31
    days on market $595,000 Active 3 DOM
16. 2026-05-30
    days on market $595,000 Active 2 DOM
17. 2026-05-17
    price $610,000 845-char remark

    Show marketing remark (845 chars)

    Just one block from the beach, this beautifully renovated 2-bedroom, 1-bath second-floor retreat in Margate Oceanview Condominiums is the perfect shore escape! Offered fully furnished with brand-new furniture — including two pullout couches — this move-in-ready gem has been completely updated from top to bottom. Enjoy a stunning new kitchen with marble backsplash, full bath with elegant tile shower & Bluetooth speaker exhaust fan, new flooring, modern lighting, with dimmable movie theatre feature , fresh paint, updated doors and trim, a new hot water heater, and energy-efficient AC wall units with heat. The convenient all-in-one ventless washer/dryer combo adds even more ease to beach living. Plus, your dedicated parking spot is just steps from the unit. Simply unpack, unwind, and start making memories at the shore!

18. 2026-05-07
    listed $635,000 Active 845-char remark

    Show marketing remark (845 chars)

    Just one block from the beach, this beautifully renovated 2-bedroom, 1-bath second-floor retreat in Margate Oceanview Condominiums is the perfect shore escape! Offered fully furnished with brand-new furniture — including two pullout couches — this move-in-ready gem has been completely updated from top to bottom. Enjoy a stunning new kitchen with marble backsplash, full bath with elegant tile shower & Bluetooth speaker exhaust fan, new flooring, modern lighting, with dimmable movie theatre feature , fresh paint, updated doors and trim, a new hot water heater, and energy-efficient AC wall units with heat. The convenient all-in-one ventless washer/dryer combo adds even more ease to beach living. Plus, your dedicated parking spot is just steps from the unit. Simply unpack, unwind, and start making memories at the shore!

19. 2025-10-09
    soldstatus $430,000
20. 1994-07-11
    soldstatus $69,000

ⓘ 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: $3,753 · $313/mo
• Projected year-2 tax: $9,284 · $774/mo
• Expected delta: +$5,531/yr (+$461/mo · 147.4%)

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

Taxation est. · year 1

• Rental income: $105,707
• − Mortgage interest: −$33,329
• − Property taxes: −$3,753
• − Insurance: −$2,975
• − Repairs & maintenance: −$8,457
• − Management: −$8,457
• − HOA: −$4,920
• − Depreciation: −$17,309
• Taxable income: $26,508
• Est. tax owed @ 24.0%: −$6,362
• After-tax cash flow: $28,056/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: Margate City School District
• NCES district ID: 3409690
• Math proficiency: 50% ▼ -26.00%
• Reading proficiency: 58% ▼ -28.00%
• Median HH income: $67,112
• Composite: 47.71/100
• National rank: #2241
• State rank: #113 of 472 in NJ

Livability — Margate City

• Score: 75/100
• State rank: #149
• US rank: #3893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margate City, NJ
• County: Atlantic County · 143,611 people
• City population: 5,234
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 5,234
• Household income: $121,800
• Rent vs Own: 10.0% rent · 90.0% own
• Severe rent burden: 23.0

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: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scotch-Irish 9% Romanian 6% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 2% Tagalog/Filipino 2% Spanish 1%

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: ▼ -625.70%
• Current HPI: 475.1366
• Rent YoY: ▲ 8.91%
• 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

+762.3% since first listed

7 events — show timeline

• 2026-06-12 Contingent — SJSRMLS
• 2026-05-28 Listed $595,000 SJSRMLS
• 2026-05-27 Listing Removed — SJSRMLS
• 2026-05-17 Price Changed $610,000 SJSRMLS
• 2026-05-07 Listed $635,000 SJSRMLS
• 2025-10-09 Sold (Public Records) $430,000 Public Records
• 1994-07-11 Sold (Public Records) $69,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $3,753 · +4.6% YoY. Source: county tax records.