228 Filmore Ave · McKee City, NJ 08234

$99,990

3 bd · 2.0 ba · 1,100 sqft · SingleFamily · 61 Days on market

Built 2004 Fair condition $91/sqft · 66% below area

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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
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Summer is almost here—own your own place near the shore! This beautifully maintained 3-bedroom, 2-full-bath home offers comfort and convenience in a great coastal location. The spacious primary suite features an extra-large walk-in shower, and the open layout makes everyday living and entertaining easy. A backyard shed provides extra storage for tools, beach gear, or seasonal items. Conveniently located just a short drive to Atlantic City beaches, restaurants, entertainment, and casinos. Enjoy year-round living or the perfect shore getaway with affordable lot rent of only $550 per month

Key facts

• Backyard shed
• 2 parking spots
• Built 2004

Tags

• EXTRA-LARGE WALK-IN SHOWER
• BACKYARD SHED
• SHORT DRIVE TO ATLANTIC CITY

🏷️ Possibly a rental listed for sale. The $99,990 price doesn't fit this home's estimated sale value (~$293,902) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.0% vs local median 5.0% in McKee 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Egg Harbor Township School District (suburban): math 18% / reading 46% proficiency, ranked #311 of 472 in NJ (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 357 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $692 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($94k) 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.

Recommended offer $93,990 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.43% ✓
• Cap rate: 20.99%
• Cash-on-cash: 52.49%
• DSCR: 3.34
• GRM: 3.4

CMA / ARV

• ARV (median comp): $293,902
• List price: $99,990
• Delta: -65.98%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Essex Dr	0.68mi	2/1.0 (-1)	1,092 (-1%)	1mo	$345,000	$316	58

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: 50.5%
• Equity multiple: 3.21×
• Total profit: $61,838
• Equity at exit: $14,909

10-year hold

• IRR: 55.9%
• Equity multiple: 6.52×
• Total profit: $154,440
• Equity at exit: $8,645

Cash invested: $27,997 (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 08234

• Home prices YoY: -6.7%
• Active inventory: 357
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,425 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $1,225

Break-even live

Break-even rent $875

Max offer price $99,990

Occupancy floor 44%

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: $24,998
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6020 Delilah Rd Egg Harbor Township, NJ	1.0–2.0	1.0–2.0	1009	$2,425	$2.40	13d	1	0.82mi

Listing history 4 events

1. 2026-05-12
   status Pending 599-char remark

   Show marketing remark (599 chars)

   Summer is almost here—own your own place near the shore! This beautifully maintained 3-bedroom, 2-full-bath home offers comfort and convenience in a great coastal location. The spacious primary suite features an extra-large walk-in shower, and the open layout makes everyday living and entertaining easy. A backyard shed provides extra storage for tools, beach gear, or seasonal items. Conveniently located just a short drive to Atlantic City beaches, restaurants, entertainment, and casinos. Enjoy year-round living or the perfect shore getaway with affordable lot rent of only $550 per month

2. 2026-03-12
   listed $99,990 Active 599-char remark

   Show marketing remark (599 chars)

   Summer is almost here—own your own place near the shore! This beautifully maintained 3-bedroom, 2-full-bath home offers comfort and convenience in a great coastal location. The spacious primary suite features an extra-large walk-in shower, and the open layout makes everyday living and entertaining easy. A backyard shed provides extra storage for tools, beach gear, or seasonal items. Conveniently located just a short drive to Atlantic City beaches, restaurants, entertainment, and casinos. Enjoy year-round living or the perfect shore getaway with affordable lot rent of only $550 per month

3. 2025-11-17
   historical
4. 2025-06-01
   listed $99,900 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: $29,100
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,328
• − Management: −$2,328
• − Depreciation: −$2,909
• Taxable income: $13,934
• Est. tax owed @ 24.0%: −$3,344
• After-tax cash flow: $11,353/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. The kitchen and bathroom are in poor condition and need major updates. The exterior siding is also in need of attention. Updating these areas will significantly increase the home's value.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major kitchen appliances — severely dated and worn
• Major bathroom fixtures — severely dated and possibly mold
• Moderate exterior siding — worn and possibly in need of repainting
• Major flooring — dated and worn hardwood

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen will increase both resale and rental value
• Both update bathroom fixtures — modernizing the bathroom will increase both resale and rental value
• Both paint exterior siding — painting the exterior will improve curb appeal and increase both resale and rental value
• Both update flooring — updating the flooring will improve the overall look and feel of the home and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
kitchen appliances · severely dated and worn	Major	$15,000–50,000
bathroom fixtures · severely dated and possibly mold	Major	$15,000–50,000
exterior siding · worn and possibly in need of repainting	Moderate	$3,000–15,000
flooring · dated and worn hardwood	Major	$15,000–50,000
Total estimated repair cost · 5 items		$63,000–215,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen will increase both resale and rental value ↑
• Both update bathroom fixtures — modernizing the bathroom will increase both resale and rental value ↑
• Both paint exterior siding — painting the exterior will improve curb appeal and increase both resale and rental value ↑
• Both update flooring — updating the flooring will improve the overall look and feel of the home and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Egg Harbor Township School District
• NCES district ID: 3404560
• Math proficiency: 18% ▼ -24.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $71,612
• Composite: 29.81/100
• National rank: #6421
• State rank: #311 of 472 in NJ

Livability — McKee City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 46,856

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 16% Asian 13% Black 9% Two or more races 9%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 3% Italian 1% Slovak 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 73% English-only · Spanish 12% Other Indo-European 4% Tagalog/Filipino 3%

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: ▼ -22.76%
• Current HPI: 319.2948
• 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

+0.1% since first listed

4 events — show timeline

• 2026-05-12 Pending — BRIGHT MLS
• 2026-03-12 Listed $99,990 BRIGHT MLS
• 2025-11-17 Listing Removed — BRIGHT MLS
• 2025-06-01 Listed $99,900 BRIGHT MLS