115 Buffalo Ave · Egg Harbor City, NJ 08215

$254,900

2 bd · 1.5 ba · 944 sqft · MultiFamily public records · 18 Days on market

Built 1930

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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
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

* * * * * TEMPORARY OFF MARKET * * * * Welcome to this charming, well maintained 2-bedroom, 1.5 bath home in the heart of Egg Harbor City! This move-in ready property features vinyl floors and a newer roof. The backyard is large, and you can access the rear of the home on 7th Terrace. This is an estate sale; Strictly being sold AS-IS. Seller has not lived in the home and has no knowledge of mechanicals/etc. Buyer is responsible for any and all inspections, certifications, repairs, if so required. Seller will not make any repairs. Home inspection is for informational purposes only. * * * Motivated Seller, bring offers! * * * Washer and Dryer are not staying with the property; however, they are negotiable as well as all the furniture, fire pit and BBQ.

Key facts

• Newer roof
• 3 parking spots
• Built 1930

Tags

• DURABLE VINYL FLOORING
• NEWER ROOF
• GENEROUSLY SIZED BACKYARD
• REAR ACCESS TO PROPERTY
• CLOSE TO LOCAL AMENITIES

Property features AI

Finance

• Other: Zoned R-6; Lot approximately 40' x 150' (<1 acre); Not in floodplain; Not waterfront; Listed for sale

Exterior

• Parking: Exterior parking for three or more cars; No garage
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Single-family residence (estate); Main living spaces on main level
• Construction: Vinyl siding; Property is 25+ years old; Basement with 6 ft.+ headroom, partial and unfinished
• Exterior features: Paved road access; Front porch; Shed; Sidewalks; Insulated glass windows; Window screens; Grey exterior

Interior

• Kitchen: Eat-in kitchen; Dining area; Electric stove; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedrooms located on upper level
• Flooring: Wall-to-wall carpet
• Bathrooms: One full bathroom; One half bathroom (powder room on upper level)
• Heating & cooling: Central air conditioning; Baseboard heating; Hot water heating; Oil heating with above-ground tank
• Interior features: Carbon monoxide detector; Built-in storage; Blinds; Partially furnished
• Laundry & utility: Washer; Dryer; Utility room on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $255k).
• Recommended offer: $251k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 5.6% in Egg Harbor 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 66/100 on livability (#353 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A, housing B+, crime B; Watch: employment D, amenities F.
• Greater Egg Harbor Regional High School District (suburban): math 16% / reading 49% proficiency, ranked #319 of 472 in NJ (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Charles L. Spragg School (math 5% / reading 12%, grade F, #1,261 of 1,303 statewide, top 97%, 258 students, 66% FRL); Egg Harbor City Community School (math 4% / reading 23%, grade F, #420 of 431 statewide, top 98%, 295 students, 72% FRL); Cedar Creek High School (math 21% / reading 61%, grade F, #180 of 399 statewide, top 46%, 929 students, 40% FRL).
• Market conditions: 80 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 672 units permitted in Atlantic County in 2024 (258 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 $8k 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 + 3.0% rent growth), your $71k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $255k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% 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 $251,076 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.68% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.19%
• DSCR: 2.12
• GRM: 5.0

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: 18.7%
• Equity multiple: 1.76×
• Total profit: $54,246
• Equity at exit: $38,006

10-year hold

• IRR: 27.1%
• Equity multiple: 3.39×
• Total profit: $170,648
• Equity at exit: $22,039

Cash invested: $71,372 (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 08215

• Home prices YoY: -22.4%
• Active inventory: 80
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $4,272 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$434 /mo · $5,206/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$897
• Net cashflow: $1,498

Break-even live

Break-even rent $2,376

Max offer price $254,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,642	-5% $1,570	+0% $1,498	+5% $1,426	+10% $1,354
Rent	-10% $1,161	-5% $1,329	+0% $1,498	+5% $1,667	+10% $1,836
Rate	-1.0pp $1,626	-0.5pp $1,563	base $1,498	+0.5pp $1,432	+1.0pp $1,365

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,272
Total (2 units)			$4,272

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
541 Philadelphia Ave Egg Harbor City, NJ	2.0	1.0	750	$1,700	$2.27	15d	1	0.55mi

Listing history 13 events

1. 2026-06-22
   days on market $254,900 Active 18 DOM
2. 2026-06-19
   days on market $254,900 Active 16 DOM
3. 2026-06-18
   days on market $254,900 Active 15 DOM
4. 2026-06-17
   days on market $254,900 Active 14 DOM
5. 2026-06-16
   days on market $254,900 Active 13 DOM
6. 2026-06-15
   days on market $254,900 Active 12 DOM
7. 2026-06-14
   pricedays on market $254,900 Active 10 DOM
8. 2026-06-13
   days on market $274,900 Active 9 DOM
9. 2026-06-10
   days on market $274,900 Active 7 DOM
10. 2026-06-09
    days on market $274,900 Active 6 DOM
11. 2026-06-08
    days on market $274,900 Active 5 DOM
12. 2026-06-07
    remarks 699-char remark
13. 2026-06-07
    listed $274,900 Active 4 DOM

ⓘ 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: $5,206 · $434/mo
• Projected year-2 tax: $5,777 · $481/mo
• Expected delta: +$570/yr (+$48/mo · 11.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 76% 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: $51,264
• − Mortgage interest: −$14,278
• − Property taxes: −$5,206
• − Insurance: −$1,274
• − Repairs & maintenance: −$4,101
• − Management: −$4,101
• − Depreciation: −$7,415
• Taxable income: $14,888
• Est. tax owed @ 24.0%: −$3,573
• After-tax cash flow: $14,404/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: Greater Egg Harbor Regional High School District
• NCES district ID: 3406060
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,324
• Composite: 28.94/100
• National rank: #6629
• State rank: #319 of 472 in NJ

Livability — Egg Harbor City

• Score: 66/100
• State rank: #353
• US rank: #11600

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Egg Harbor City, NJ
• County: Atlantic County · 143,611 people
• City population: 13,545
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 13,545
• Household income: $80,893
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 484.0

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 (67%)
• Race & ethnicity: White 67% Black 19% Hispanic / Latino 12% Two or more races 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 6% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -76.92%
• Current HPI: 267.2078
• Rent YoY: —
• 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

+4481.7% since first listed

18 events — show timeline

• 2026-06-03 Listed $274,900 SJSRMLS
• 2025-11-10 Relisted — SJSRMLS
• 2025-11-10 Listing Removed — SJSRMLS
• 2025-11-08 Listing Removed — SJSRMLS
• 2025-10-22 Listed $254,000 SJSRMLS
• 2021-10-29 Sold (MLS) $130,000 SJSRMLS
• 2021-09-07 Contingent — SJSRMLS
• 2021-07-04 Price Changed $135,000 SJSRMLS
• 2021-05-28 Price Changed $140,000 SJSRMLS
• 2021-04-26 Relisted — SJSRMLS
• 2021-04-23 Contingent — SJSRMLS
• 2021-04-15 Listed $150,000 SJSRMLS
• 2012-05-09 Sold (Public Records) $70,000 Public Records
• 2001-09-18 Sold (Public Records) $41,200 Public Records
• 2001-09-05 Sold (MLS) $41,200 SJSRMLS
• 2001-07-16 Listing Removed — SJSRMLS
• 2000-11-01 Listed $46,900 SJSRMLS
• 1947-08-06 Sold (Public Records) $6,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $5,206 · +1.6% YoY. Source: county tax records.