222 E Burk Ave #4 · Wildwood, NJ 08260

$499,999

4 bd · 2.0 ba · 1,645 sqft · Condo · 383 Days on market

Built 1935 $639/mo HOA · 12% of rent ↓ 9% since listing

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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).

• Cash flow +15.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• DSCR +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

Key facts

• Grilling space
• Bright living spaces
• Generous dining area

Tags

• OUTDOOR PORCHES
• WELL-EQUIPPED KITCHEN
• GENEROUS DINING AREA
• BRIGHT LIVING SPACES
• AMPLE STORAGE
• GRILLING SPACE

Property features AI

Finance

• HOA & community: Monthly condo fee of $639.68; Owner/self-management; Condo fee covers common area maintenance, exterior building maintenance, pest control, sewer and water

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Condominium ownership; Major renovation or remodel in 2023; Year built is estimated
• Construction: Frame construction; Above-grade and below-grade structures noted
• Exterior features: Oceanside location; Water view; Two or more access exits (accessibility)

Interior

• Kitchen: Stainless steel appliances
• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump with electric backup; Forced air heating; Central air conditioning (electric)
• Interior features: Open floor plan with combination kitchen and dining area; Additional stairway; Furnished

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $500k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Recommended offer: $440k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#176 in NJ, #4,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, crime F, cost of living F.
• Wildwood City School District (suburban): math 12% / reading 27% proficiency, ranked #442 of 472 in NJ (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Glenwood Avenue Elementary School (math 8% / reading 27%, grade F, #1,065 of 1,303 statewide, top 83%, 396 students, 89% FRL); Wildwood Middle School (math 12% / reading 22%, grade F, #409 of 431 statewide, top 95%, 172 students, 87% FRL); Wildwood High School (math 22% / reading 47%, grade F, #239 of 399 statewide, top 61%, 263 students, 69% FRL) — zoned schools at 82% FRL track the district average.
• Market conditions: 436 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 $3k of loan paydown is wiped out by about $15k 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 383 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $439,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 383 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 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?
8. 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?
9. 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?
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: 1.08% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 7.7

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-68,775
• Equity at exit: $74,551

10-year hold

• IRR: -4.6%
• Equity multiple: 0.69×
• Total profit: $-42,802
• Equity at exit: $43,231

Cash invested: $140,000 (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 08260

• Home prices YoY: -30.7%
• Active inventory: 436
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $5,417 medium
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$639
• Vacancy / Maint / Mgmt: −$1,138
• Net cashflow: $185

Break-even live

Break-even rent $5,183

Max offer price $499,999

Occupancy floor 92%

Sensitivity live

Price	-10% $530	-5% $358	+0% $185	+5% $12	+10% $-161
Rent	-10% $-243	-5% $-29	+0% $185	+5% $399	+10% $613
Rate	-1.0pp $437	-0.5pp $312	base $185	+0.5pp $55	+1.0pp $-77

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	45d	1	0.24mi
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	45d	1	0.45mi

HOA detail condo

• Monthly dues: $639 · $7,668/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-07
   status $499,999 Pending 383 DOM
2. 2026-06-03
   status $499,999 Active Under Contract 383 DOM
3. 2026-06-02
   days on market $499,999 Active 383 DOM
4. 2026-06-01
   days on market $499,999 Active 382 DOM
5. 2026-05-31
   days on market $499,999 Active 381 DOM
6. 2026-04-07
   status Active
7. 2026-02-13
   historical
8. 2026-01-05
   status Active
9. 2026-01-01
   listed $499,999 Active 742-char remark

   Show marketing remark (742 chars)

   Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

10. 2025-12-30
    historical
11. 2025-09-05
    status Active
12. 2025-09-01
    historical Expired 742-char remark

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

13. 2025-08-31
    historical
14. 2025-07-13
    price $499,999 742-char remark

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

15. 2025-07-13
    price $499,999

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

16. 2025-05-12
    price $534,900 742-char remark

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

17. 2025-05-12
    price $534,900

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

18. 2025-04-19
    price $544,900 742-char remark

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

19. 2025-04-10
    price $544,900
20. 2025-03-20
    listed $549,900 Active 742-char remark

    Show marketing remark (742 chars)

    Just steps from the Wildwood Boardwalk, this spacious 4-bedroom, 2-bathroom condo with an additional bonus room offers the perfect blend of comfort and convenience for beachside living. Designed for large families or entertaining guests, the open-concept layout features a generous dining area, a well-equipped kitchen, and bright living spaces filled with natural light. Enjoy two outdoor porches, perfect for relaxing or entertaining, along with ample storage and grilling space. Positioned in the heart of Wildwood, this home provides easy access to the boardwalk, beaches, dining, and entertainment. Whether you're seeking a primary residence, vacation retreat, or investment opportunity, this property is a rare find in a prime location.

21. 2025-03-12
    listed $549,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $65,001
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,200
• − Management: −$5,200
• − HOA: −$7,668
• − Depreciation: −$14,545
• Taxable loss: −$5,620
• Est. tax savings @ 24.0%: +$1,349
• After-tax cash flow: $3,567/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: Wildwood City School District
• NCES district ID: 3417940
• Math proficiency: 12% ▼ -6.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $33,232
• Composite: 15.84/100
• National rank: #9261
• State rank: #442 of 472 in NJ

Livability — Wildwood

• Score: 74/100
• State rank: #176
• US rank: #4679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood, NJ
• Population (ZIP): 12,913

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 12% Other Indo-European 3% French/Haitian/Cajun 1%

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: ▼ -243.83%
• Current HPI: 551.3393
• 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

-9.1% since first listed

16 events — show timeline

• 2026-04-07 Relisted — BRIGHT MLS
• 2026-02-13 Listing Removed — BRIGHT MLS
• 2026-01-05 Relisted — BRIGHT MLS
• 2026-01-01 Listed $499,999 CMCMLS
• 2025-12-30 Listing Removed — BRIGHT MLS
• 2025-09-05 Relisted — BRIGHT MLS
• 2025-09-01 Delisted — CMCMLS
• 2025-08-31 Listing Removed — BRIGHT MLS
• 2025-07-13 Price Changed $499,999 CMCMLS
• 2025-07-13 Price Changed $499,999 BRIGHT MLS
• 2025-05-12 Price Changed $534,900 CMCMLS
• 2025-05-12 Price Changed $534,900 BRIGHT MLS
• 2025-04-19 Price Changed $544,900 CMCMLS
• 2025-04-10 Price Changed $544,900 BRIGHT MLS
• 2025-03-20 Listed $549,900 CMCMLS
• 2025-03-12 Listed $549,900 BRIGHT MLS