405 E 5th Ave Unit C · North Wildwood, NJ 08260

$989,900

3 bd · 3.5 ba · 2,175 sqft · Condo public records · 150 Days on market

Built 2004

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Why this score? — see what drove the C- 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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.0/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location! The one word that best describes this property located in North Wildwood. This well-kept, upside-down style Townhouse is situated 1 1/2 blocks to the 5th Street beach. Walk right up to the corner on Surf Avenue, and you are 2 1/2 blocks away from the Inlet Beach, and the now well-known North Wildwood Seawall. Everyone loves to get their morning walk in on this Promenade by the Ocean! After you watch the sunrise from your private decks with morning Coffee, which beach will you chose today? The Boardwalk Bike Path starts at 5th St. as well. Jump on your Bike and cruise the world-famous Wildwoods Boardwalk, then return to the Townhouse that offers 3 Bedrooms and 3 1/2 Baths. All Bedrooms have en-suite facilities. One bedroom is on the 1st level, and is perfect for extra privacy, or for the person that prefers the ease of not using the steps. On the second level you’ll find the Primary Bedroom with attached deck and the 3rd bedroom. The third level is where you will find the spacious, bright Kitchen and Living Room area, also with an attached deck where you can catch warm summer breezes, read a book, or sit back and relax with your favorite libation. The half bath on this level adds great convenience. Getting Back to the LOCATION theme, the end of a great day on the Beach or other outdoor activities Leads into the night. This home is situated a short walk, bike, or Uber ride to the North Wildwood Entertainment District, where you will find a host of Great Restaurants, bars and Nightlife. This Townhouse is the perfect place to "Get your slice of the Beach Life!"

Key facts

• Gas fireplace
• Bamboo floors
• Surround sound

Tags

• WALKING DISTANCE TO BEACH
• BAMBOO FLOORS
• CUSTOM GLASS AND TILE SHOWER
• OVERSIZED LIVING ROOM
• SURROUND SOUND
• GAS FIREPLACE

Property features AI

Finance

• HOA & community: Condo fee $547

Exterior

• Parking: Garage for 2 cars
• Utilities: City water; City sewer; Gas hot water
• Home design: Unit C
• Exterior features: Deck/porch; Outside shower; Year-round usage; Owners allowed pets; 1 block to the beach

Interior

• Kitchen: Oven; Microwave; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: 3 bedrooms
• Flooring: Hardwood floors
• Bathrooms: 3 full bathrooms; 1 lavatory
• Heating & cooling: Natural gas heating with forced air; Central air conditioning; Multi-zoned cooling
• Interior features: Fireplace; Cathedral ceiling; Foyer; Living room; Great room; Eat-in kitchen; Laundry/utility room; Storage space; Other (see remarks)
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $990k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $990k).
• Recommended offer: $871k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.7% in North Wildwood — 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 68/100 on livability (#318 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities C-, crime D-, commute F.
• North Wildwood School District (suburban): math 55% / reading 45% proficiency, ranked #396 of 612 in NJ (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 437 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 $7k of loan paydown is wiped out by about $30k 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 150 days — a 12% lower offer ($871k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $110k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $829k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $871,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.00% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 8.3

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-69,721
• Equity at exit: $147,597

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $55,714
• Equity at exit: $85,588

Cash invested: $277,172 (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: 437
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $9,900 medium
• Mortgage (P&I): −$5,191
• Tax from tax record: −$620 /mo · $7,435/yr
• Insurance: −$412
• HOA est. from 1 same-building comp: −$172
• Vacancy / Maint / Mgmt: −$2,079
• Net cashflow: $1,426

Break-even live

Break-even rent $8,095

Max offer price $989,900

Occupancy floor 81%

Sensitivity live

Price	-10% $1,986	-5% $1,706	+0% $1,426	+5% $1,146	+10% $865
Rent	-10% $644	-5% $1,035	+0% $1,426	+5% $1,817	+10% $2,208
Rate	-1.0pp $1,924	-0.5pp $1,678	base $1,426	+0.5pp $1,169	+1.0pp $908

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: $247,475
• Closing costs: $29,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Seaspray Ct Wildwood, NJ	3.0	2.5	1650	$9,900	$6.00	44d	1	1.15mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $989,900 Active 150 DOM
2. 2026-06-18
   days on market $989,900 Active 148 DOM
3. 2026-06-17
   days on market $989,900 Active 147 DOM
4. 2026-06-16
   days on market $989,900 Active 146 DOM
5. 2026-06-15
   days on market $989,900 Active 145 DOM
6. 2026-06-13
   days on market $989,900 Active 143 DOM
7. 2026-06-12
   pricedays on market $989,900 Active 142 DOM
8. 2026-06-09
   days on market $999,999 Active 139 DOM
9. 2026-06-08
   days on market $999,999 Active 138 DOM
10. 2026-06-07
    days on market $999,999 Active 137 DOM
11. 2026-06-07
    days on market $999,999 Active 136 DOM
12. 2026-06-04
    days on market $999,999 Active 133 DOM
13. 2026-06-02
    days on market $999,999 Active 132 DOM
14. 2026-06-01
    days on market $999,999 Active 131 DOM
15. 2026-05-31
    days on market $999,999 Active 130 DOM
16. 2026-04-28
    price $999,999
17. 2026-04-06
    price $1,049,900
18. 2026-01-21
    listed $1,100,000 Active
19. 2024-04-19
    soldstatus $829,000
20. 2024-04-12
    soldstatus $829,000 Sold Coop by Member 1630-char remark

    Show marketing remark (1630 chars)

    Location, Location, Location! The one word that best describes this property located in North Wildwood. This well-kept, upside-down style Townhouse is situated 1 1/2 blocks to the 5th Street beach. Walk right up to the corner on Surf Avenue, and you are 2 1/2 blocks away from the Inlet Beach, and the now well-known North Wildwood Seawall. Everyone loves to get their morning walk in on this Promenade by the Ocean! After you watch the sunrise from your private decks with morning Coffee, which beach will you chose today? The Boardwalk Bike Path starts at 5th St. as well. Jump on your Bike and cruise the world-famous Wildwoods Boardwalk, then return to the Townhouse that offers 3 Bedrooms and 3 1/2 Baths. All Bedrooms have en-suite facilities. One bedroom is on the 1st level, and is perfect for extra privacy, or for the person that prefers the ease of not using the steps. On the second level you’ll find the Primary Bedroom with attached deck and the 3rd bedroom. The third level is where you will find the spacious, bright Kitchen and Living Room area, also with an attached deck where you can catch warm summer breezes, read a book, or sit back and relax with your favorite libation. The half bath on this level adds great convenience. Getting Back to the LOCATION theme, the end of a great day on the Beach or other outdoor activities Leads into the night. This home is situated a short walk, bike, or Uber ride to the North Wildwood Entertainment District, where you will find a host of Great Restaurants, bars and Nightlife. This Townhouse is the perfect place to "Get your slice of the Beach Life!"

21. 2024-03-06
    status Under Contract 1630-char remark

    Show marketing remark (1630 chars)

    Location, Location, Location! The one word that best describes this property located in North Wildwood. This well-kept, upside-down style Townhouse is situated 1 1/2 blocks to the 5th Street beach. Walk right up to the corner on Surf Avenue, and you are 2 1/2 blocks away from the Inlet Beach, and the now well-known North Wildwood Seawall. Everyone loves to get their morning walk in on this Promenade by the Ocean! After you watch the sunrise from your private decks with morning Coffee, which beach will you chose today? The Boardwalk Bike Path starts at 5th St. as well. Jump on your Bike and cruise the world-famous Wildwoods Boardwalk, then return to the Townhouse that offers 3 Bedrooms and 3 1/2 Baths. All Bedrooms have en-suite facilities. One bedroom is on the 1st level, and is perfect for extra privacy, or for the person that prefers the ease of not using the steps. On the second level you’ll find the Primary Bedroom with attached deck and the 3rd bedroom. The third level is where you will find the spacious, bright Kitchen and Living Room area, also with an attached deck where you can catch warm summer breezes, read a book, or sit back and relax with your favorite libation. The half bath on this level adds great convenience. Getting Back to the LOCATION theme, the end of a great day on the Beach or other outdoor activities Leads into the night. This home is situated a short walk, bike, or Uber ride to the North Wildwood Entertainment District, where you will find a host of Great Restaurants, bars and Nightlife. This Townhouse is the perfect place to "Get your slice of the Beach Life!"

22. 2024-03-01
    historical Under Contract Con/Show 1630-char remark

    Show marketing remark (1630 chars)

    Location, Location, Location! The one word that best describes this property located in North Wildwood. This well-kept, upside-down style Townhouse is situated 1 1/2 blocks to the 5th Street beach. Walk right up to the corner on Surf Avenue, and you are 2 1/2 blocks away from the Inlet Beach, and the now well-known North Wildwood Seawall. Everyone loves to get their morning walk in on this Promenade by the Ocean! After you watch the sunrise from your private decks with morning Coffee, which beach will you chose today? The Boardwalk Bike Path starts at 5th St. as well. Jump on your Bike and cruise the world-famous Wildwoods Boardwalk, then return to the Townhouse that offers 3 Bedrooms and 3 1/2 Baths. All Bedrooms have en-suite facilities. One bedroom is on the 1st level, and is perfect for extra privacy, or for the person that prefers the ease of not using the steps. On the second level you’ll find the Primary Bedroom with attached deck and the 3rd bedroom. The third level is where you will find the spacious, bright Kitchen and Living Room area, also with an attached deck where you can catch warm summer breezes, read a book, or sit back and relax with your favorite libation. The half bath on this level adds great convenience. Getting Back to the LOCATION theme, the end of a great day on the Beach or other outdoor activities Leads into the night. This home is situated a short walk, bike, or Uber ride to the North Wildwood Entertainment District, where you will find a host of Great Restaurants, bars and Nightlife. This Townhouse is the perfect place to "Get your slice of the Beach Life!"

23. 2024-01-22
    listed $855,000 Active 1630-char remark

    Show marketing remark (1630 chars)

    Location, Location, Location! The one word that best describes this property located in North Wildwood. This well-kept, upside-down style Townhouse is situated 1 1/2 blocks to the 5th Street beach. Walk right up to the corner on Surf Avenue, and you are 2 1/2 blocks away from the Inlet Beach, and the now well-known North Wildwood Seawall. Everyone loves to get their morning walk in on this Promenade by the Ocean! After you watch the sunrise from your private decks with morning Coffee, which beach will you chose today? The Boardwalk Bike Path starts at 5th St. as well. Jump on your Bike and cruise the world-famous Wildwoods Boardwalk, then return to the Townhouse that offers 3 Bedrooms and 3 1/2 Baths. All Bedrooms have en-suite facilities. One bedroom is on the 1st level, and is perfect for extra privacy, or for the person that prefers the ease of not using the steps. On the second level you’ll find the Primary Bedroom with attached deck and the 3rd bedroom. The third level is where you will find the spacious, bright Kitchen and Living Room area, also with an attached deck where you can catch warm summer breezes, read a book, or sit back and relax with your favorite libation. The half bath on this level adds great convenience. Getting Back to the LOCATION theme, the end of a great day on the Beach or other outdoor activities Leads into the night. This home is situated a short walk, bike, or Uber ride to the North Wildwood Entertainment District, where you will find a host of Great Restaurants, bars and Nightlife. This Townhouse is the perfect place to "Get your slice of the Beach Life!"

24. 2023-06-08
    historical
25. 2023-05-10
    listed $920,000 Active
26. 2023-04-01
    price $920,000
27. 2023-03-30
    price $929,000
28. 2023-02-25
    price $959,000
29. 2014-08-01
    soldstatus $485,000
30. 2014-01-15
    soldstatus $485,000
31. 2013-01-16
    listed $499,000
32. 2005-06-09
    soldstatus $284,000

ⓘ 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: $7,435 · $620/mo
• Projected year-2 tax: $16,042 · $1,337/mo
• Expected delta: +$8,607/yr (+$717/mo · 115.8%)

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

Taxation est. · year 1

• Rental income: $118,800
• − Mortgage interest: −$55,450
• − Property taxes: −$7,435
• − Insurance: −$4,950
• − Repairs & maintenance: −$9,504
• − Management: −$9,504
• − HOA: −$2,064
• − Depreciation: −$28,797
• Taxable income: $1,096
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $16,846/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: North Wildwood School District
• NCES district ID: 3411670
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $45,310
• Composite: 44.38/100
• National rank: #6123
• State rank: #396 of 612 in NJ

Livability — North Wildwood

• Score: 68/100
• State rank: #318
• US rank: #9827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North 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

+252.1% since first listed

17 events — show timeline

• 2026-04-28 Price Changed $999,999 CMCMLS
• 2026-04-06 Price Changed $1,049,900 CMCMLS
• 2026-01-21 Listed $1,100,000 CMCMLS
• 2024-04-19 Sold (Public Records) $829,000 Public Records
• 2024-04-12 Sold (MLS) $829,000 CMCMLS
• 2024-03-06 Pending — CMCMLS
• 2024-03-01 Contingent — CMCMLS
• 2024-01-22 Listed $855,000 CMCMLS
• 2023-06-08 Listing Removed — BRIGHT MLS
• 2023-05-10 Listed $920,000 BRIGHT MLS
• 2023-04-01 Price Changed $920,000 CMCMLS
• 2023-03-30 Price Changed $929,000 CMCMLS
• 2023-02-25 Price Changed $959,000 CMCMLS
• 2014-08-01 Sold (Public Records) $485,000 Public Records
• 2014-01-15 Sold (MLS) $485,000 CMCMLS
• 2013-01-16 Listed $499,000 CMCMLS
• 2005-06-09 Sold (Public Records) $284,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $7,435 · +2.1% YoY. Source: county tax records.