117 N Granville Ave · Margate City, NJ 08402

$749,000

5 bd · 3.0 ba · 2,041 sqft · SingleFamily public records · 14 Days on market

Built 1960 Est $1392k · 46% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BUILD YOUR DREAM BEACH HOUSE HERE!!! Generously sized lot in PRIME LOCATION just steps from Margate's popular shopping and dining, this property offers the ultimate walkable shore lifestyle! Enjoy ample off-street parking and an unbeatable location just three short blocks to the beach!!

Key facts

• Custom dream home
• Generously sized lot
• 2 parking spots

Tags

• PRIME MARGATE LOCATION
• CUSTOM DREAM HOME
• GENEROUSLY SIZED LOT
• AMPLE OFF-STREET PARKING

Property features AI

Finance

• Other: Property is offered for sale; Lot approximately 40 x 67.58 (under 1 acre); Not waterfront; Available documents: Lead-based paint disclosure, Seller's property condition

Exterior

• Parking: Two exterior parking spaces; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family property; Facing direction: Other (see remarks)
• Construction: Brick siding; Shingle siding
• Exterior features: Porch; Curbs; Sidewalks; Concrete driveway

Interior

• Kitchen: Electric stove; Microwave; Refrigerator
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Carbon monoxide detector; Smoke/fire alarm
• Laundry & utility: Washer; Dryer; Dedicated laundry/utility room

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $749k.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $749k).
• Cap rate 16.4% vs local median 7.4% in Margate 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 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Margate City School District (suburban): math 50% / reading 58% proficiency, ranked #113 of 472 in NJ (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $13,952/mo this rent would consume 137% of the median local household income ($122k/yr) (locally 23% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k 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 + 8.0% rent growth), your $210k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $749,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.86% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.13%
• DSCR: 2.61
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $1,391,962
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 N Douglas Ave	0.21mi	4/3.5 (-1)	2,000 (-2%)	10mo	$1,375,000	$688	72
414 N Clermont Ave	0.37mi	4/3.0 (-1)	2,076 (+2%)	9mo	$760,000	$366	67
108 N Clermont Ave	0.25mi	5/4.5	2,168 (+6%)	7mo	$1,475,000	$680	66
25 N Huntington Ave	0.12mi	4/3.0 (-1)	2,259 (+11%)	10mo	$1,465,000	$649	64
7 S Hanover Ave	0.28mi	4/3.0 (-1)	2,240 (+10%)	3mo	$1,695,000	$757	63
7 N Swarthmore Ave	0.60mi	4/3.0 (-1)	2,046 (+0%)	9mo	$1,300,000	$635	59
18 N Fredericksburg Ave	0.30mi	5/3.5	2,200 (+8%)	16mo	$1,625,000	$739	58
39 N Douglas Ave	0.22mi	4/2.5 (-1)	1,832 (-10%)	14mo	$1,250,000	$682	54
309 N Fredericksburg Ave	0.48mi	4/3.0 (-1)	2,168 (+6%)	11mo	$1,325,000	$611	53
7723 Ventnor Ave	0.30mi	5/4.0	2,320 (+14%)	10mo	$1,500,000	$647	51
202 N Fredericksburg Ave	0.45mi	4/3.0 (-1)	1,800 (-12%)	10mo	$1,299,999	$722	46
10 S Knight Ave	0.36mi	6/4.0 (+1)	2,332 (+14%)	9mo	$2,887,500	$1,238	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 34.5%
• Equity multiple: 2.56×
• Total profit: $327,577
• Equity at exit: $111,678

10-year hold

• IRR: 44.0%
• Equity multiple: 6.27×
• Total profit: $1,104,499
• Equity at exit: $64,760

Cash invested: $209,720 (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 08402

• Rents YoY: 8.9%
• Active inventory: 147
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $13,952 medium
• Mortgage (P&I): −$3,928
• Tax from tax record: −$467 /mo · $5,608/yr
• Insurance: −$312
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,930
• Net cashflow: $5,888

Break-even live

Break-even rent $6,498

Max offer price $749,000

Occupancy floor 53%

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 N Essex Ave Margate City, NJ	4.0	3.0	1570	$15,000	$9.55	43d	1	0.16mi
107 N Douglas Ave Unit AUGUST Margate City, NJ	5.0	3.5	2312	$33,000	$14.27	20d	1	0.20mi
107 N Douglas Ave Margate City, NJ	5.0	3.5	2312	$36,000	$15.57	43d	1	0.20mi
307 N Essex Ave Margate City, NJ	4.0	2.0	1561	$1,800	$1.15	43d	1	0.25mi
7611 Ventnor Ave Margate City, NJ	6.0	4.0	2717	$34,000	$12.51	20d	1	0.33mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	20d	1	0.38mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	13d	1	0.39mi
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	43d	1	0.41mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	43d	1	0.64mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	13d	1	0.66mi
7103 Ventnor Ave Ventnor City, NJ	4.0	3.0	2288	$5,500	$2.40	13d	1	0.68mi
204 N Union Ave Margate City, NJ	5.0	4.0	2393	$5,000	$2.09	43d	1	0.69mi
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	20d	1	0.84mi
16 S Decatur Ave Unit 9/15-10/31 Margate City, NJ	4.0	3.0	1732	$7,000	$4.04	43d	1	0.90mi
7 S Richards Ave Ventnor City, NJ	4.0	2.0	1600	$25,000	$15.62	13d	1	0.93mi
9411 Winchester Ave Margate City, NJ	5.0	3.5	2776	$11,500	$4.14	43d	1	0.99mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	20d	1	1.00mi
406 N Dorset Ave Ventnor City, NJ	4.0	1.5	1568	$13,000	$8.29	13d	1	1.44mi

Listing history 13 events

1. 2026-06-19
   days on market $749,000 Active 14 DOM
2. 2026-06-18
   days on market $749,000 Active 13 DOM
3. 2026-06-17
   days on market $749,000 Active 12 DOM
4. 2026-06-16
   days on market $749,000 Active 11 DOM
5. 2026-06-15
   days on market $749,000 Active 10 DOM
6. 2026-06-14
   days on market $749,000 Active 8 DOM
7. 2026-06-13
   days on market $749,000 Active 7 DOM
8. 2026-06-10
   remarks 432-char remark
9. 2026-06-10
   days on market $749,000 Active 5 DOM
10. 2026-06-09
    days on market $749,000 Active 4 DOM
11. 2026-06-08
    days on market $749,000 Active 3 DOM
12. 2026-06-07
    remarks 369-char remark
13. 2026-06-07
    listed $749,000 Active 2 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: $5,608 · $467/mo
• Projected year-2 tax: $12,129 · $1,011/mo
• Expected delta: +$6,521/yr (+$543/mo · 116.3%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥95°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: $167,424
• − Mortgage interest: −$41,956
• − Property taxes: −$5,608
• − Insurance: −$8,864
• − Repairs & maintenance: −$13,394
• − Management: −$13,394
• − Depreciation: −$21,789
• Taxable income: $62,420
• Est. tax owed @ 24.0%: −$14,981
• After-tax cash flow: $55,679/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: Margate City School District
• NCES district ID: 3409690
• Math proficiency: 50% ▼ -26.00%
• Reading proficiency: 58% ▼ -28.00%
• Median HH income: $67,112
• Composite: 47.71/100
• National rank: #2241
• State rank: #113 of 472 in NJ

Livability — Margate City

• Score: 75/100
• State rank: #149
• US rank: #3893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margate City, NJ
• County: Atlantic County · 143,611 people
• City population: 5,234
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 5,234
• Household income: $121,800
• Rent vs Own: 10.0% rent · 90.0% own
• Severe rent burden: 23.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scotch-Irish 9% Romanian 6% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 2% Tagalog/Filipino 2% Spanish 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: ▼ -625.70%
• Current HPI: 475.1366
• Rent YoY: ▲ 8.91%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-05 Listed $749,000 SJSRMLS
• 2026-06-03 Listed $749,000 SJSRMLS

Property tax history

+1.9%/yr

Latest (2025): $5,608 · +4.6% YoY. Source: county tax records.