811 E 7th St Ave · Ocean City, NJ 08226

$1,250,000

5 bd · 3.5 ba · 2,384 sqft · SingleFamily public records · 236 Days on market

Built 1925 Est $1986k · 37% under

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• DSCR +3.2/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beach block: Just a few steps to the boards and beach. A Spanish Revival home from 1925: 5 beds, 3.5 baths with beautiful hardwood floors, good sized rooms, stained glass windows, a nice hearth and solid mechanicals. Tremendous rental potential.

Key facts

• Rental potential
• Beach block
• Hardwood floors

Tags

• BEACH BLOCK
• SPANISH REVIVAL HOME
• HARDWOOD FLOORS
• STAINED GLASS WINDOWS
• RENTAL POTENTIAL

Property features AI

Exterior

• Parking: Exterior parking for three or more cars; No garage
• Utilities: Public water; Public sewer; Gas water heater
• Home design: For sale
• Construction: Crawl space basement
• Exterior features: Concrete driveway; White exterior color; Lot dimensions 50 x 90; Lot frontage 50; Zoned R1-1-50; Property not waterfront; Property located in floodplain

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Primary bedroom on main level; Additional bedrooms on upper level
• Flooring: Wood floors
• Bathrooms: Three full bathrooms; One half bathroom; Main and upper level bath placement
• Heating & cooling: Central air conditioning; Baseboard heating; Natural gas heating; Hot water heating; Radiator heating
• Interior features: Fireplace in living room; Wood flooring; 14 total rooms; Dining room on main level; Family room on main level; Living room on main level; Powder room on main level; Utility room on main level
• Laundry & utility: Utility room on main level

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $-937 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.08M (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $952k (23.8% below list).
• Recommended offer: $952k (23.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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; 1 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 $9k of loan paydown is wiped out by about $38k 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.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($1.10M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $180k; list at $1.25M implies a 594% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1925 — 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $952,400 (23.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.76% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $1,985,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
841 Pelham Pl	0.07mi	5/5.0	2,100 (-12%)	1mo	$1,999,999	$952	70
417 Ocean Ave	0.28mi	5/2.5	2,150 (-10%)	4mo	$1,880,000	$874	64
621 Bay Ave	0.52mi	5/4.5	2,250 (-6%)	9mo	$1,875,000	$833	55
901 St James Pl	0.69mi	6/4.5 (+1)	2,438 (+2%)	6mo	$2,775,000	$1,138	50
801 Saint James Pl	0.67mi	5/4.5	2,600 (+9%)	1mo	$3,200,000	$1,231	48
1223 Haven Ave	0.72mi	5/4.5	2,323 (-3%)	13mo	$1,575,000	$678	47
1217 Haven Ave	0.72mi	5/4.5	2,323 (-3%)	14mo	$1,597,000	$687	46
1219 Haven Ave	0.72mi	5/4.5	2,323 (-3%)	14mo	$1,597,000	$687	46
337 West Ave	0.49mi	5/3.5	2,064 (-13%)	13mo	$1,549,000	$750	44
140 Asbury Ave	0.64mi	4/3.0 (-1)	2,197 (-8%)	12mo	$1,585,000	$721	40
116 West Ave	0.70mi	5/2.5	2,100 (-12%)	15mo	$1,700,000	$810	31
800 St James Pl	0.65mi	6/4.5 (+1)	2,693 (+13%)	16mo	$2,650,000	$984	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-262,167
• Equity at exit: $186,379

10-year hold

• IRR: -15.4%
• Equity multiple: 0.13×
• Total profit: $-304,956
• Equity at exit: $108,077

Cash invested: $350,000 (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: 10.9×

Monthly cashflow live

• Estimated rent: $9,524 medium
• Mortgage (P&I): −$6,555
• Tax from tax record: −$958 /mo · $11,496/yr
• Insurance: −$521
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,000
• Net cashflow: $-937

Break-even live

Break-even rent $10,709

Max offer price $1,084,560

Occupancy floor —

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: $312,500
• Closing costs: $37,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 West Ave Unit 1309024P Ocean City, NJ	4.0	3.0	1991	$9,524	$4.78	43d	1	0.70mi

Listing history 17 events

1. 2026-06-18
   days on market $1,250,000 Under Contract 236 DOM
2. 2026-06-17
   days on market $1,250,000 Under Contract 235 DOM
3. 2026-06-16
   days on market $1,250,000 Under Contract 234 DOM
4. 2026-06-15
   days on market $1,250,000 Under Contract 233 DOM
5. 2026-06-13
   days on market $1,250,000 Under Contract 231 DOM
6. 2026-06-12
   days on market $1,250,000 Under Contract 230 DOM
7. 2026-06-09
   days on market $1,250,000 Under Contract 227 DOM
8. 2026-06-08
   days on market $1,250,000 Under Contract 226 DOM
9. 2026-06-07
   days on market $1,250,000 Under Contract 225 DOM
10. 2026-06-07
    days on market $1,250,000 Under Contract 224 DOM
11. 2026-06-04
    days on market $1,250,000 Under Contract 221 DOM
12. 2026-06-02
    days on market $1,250,000 Under Contract 220 DOM
13. 2026-06-01
    days on market $1,250,000 Under Contract 219 DOM
14. 2026-05-31
    days on market $1,250,000 Under Contract 218 DOM
15. 2025-10-25
    historical Under Contract
16. 2025-10-24
    listed $1,250,000 Active
17. 1994-11-14
    soldstatus $180,000

ⓘ 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: $11,496 · $958/mo
• Projected year-2 tax: $21,310 · $1,776/mo
• Expected delta: +$9,815/yr (+$818/mo · 85.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥98°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: $114,288
• − Mortgage interest: −$70,019
• − Property taxes: −$11,496
• − Insurance: −$11,368
• − Repairs & maintenance: −$9,143
• − Management: −$9,143
• − Depreciation: −$36,364
• Taxable loss: −$33,245
• Est. tax savings @ 24.0%: +$7,979
• After-tax cash flow: $-3,259/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

+594.4% since first listed

3 events — show timeline

• 2025-10-25 Contingent — SJSRMLS
• 2025-10-24 Listed $1,250,000 SJSRMLS
• 1994-11-14 Sold (Public Records) $180,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $11,496 · +3.4% YoY. Source: county tax records.