400 Marina Ct E #104 · North Wildwood, NJ 08260

$540,000

2 bd · 2.0 ba · 824 sqft · Condo · 64 Days on market

Built 1989 $565/mo HOA · 4% of rent

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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 +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

Welcome to 400 E Marina Ct, Unit 104, step into this beautiful 2 bedroom, 2 bath condo that comes complete with its own private beach! Whether you’re looking for a year-round residence, a weekend escape, or a smart investment property, this condo delivers. Unit can be rented weekly, seasonally, yearly. It is perfectly situated in the sought-after Anglesea section of North Wildwood. Location is everything and with its excellent proximity to some of North Wildwood’s best restaurants, lively bars, and seasonal festivals, there will always be something for the entire family to enjoy! Inside, the condo features an open layout designed for both relaxation and entertaining. The two spacious bedrooms and two full bathrooms provide plenty of comfort for family and guests. The Association is financially stable, and your fees include common insurances (F/F/L), landscaping and exterior building maintenance. The private beach is not guarded and is maintained by the Association. Don’t miss the opportunity to own a piece of paradise here in North Wildwood!

Key facts

• Anglesea section
• Private beach
• Open layout

Tags

• PRIVATE BEACH
• ANGLESEA SECTION
• OPEN LAYOUT
• EXCELLENT PROXIMITY

Property features AI

Finance

• Other: Lease not considered
• HOA & community: Monthly HOA/condo fee (includes other services) — $565; Community amenities include beach access and other amenities; Property manager present; Pets allowed (cats and dogs)

Exterior

• Parking: Parking lot with two spaces (total of 2 garage/parking spaces)
• Utilities: Public water; Public sewer; Natural gas hot water; Electric cooling fuel; Municipal trash service
• Home design: Condominium unit; Garden-style building (1–4 floors); Single-floor unit (entry level 1); Unit/flat structure
• Construction: Estimated year built; Above-grade construction
• Exterior features: No tidal water; Above grade structures

Interior

• Kitchen: Electric oven/range; Stove; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fan cooling
• Interior features: Ceiling fans; Kitchen with table space; Combination kitchen/dining area; Furnished; Has electric fireplace; Has spa
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $540k.

Deal economics

• At list price, monthly cash flow is $6k ($72k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $540k).
• Recommended offer: $508k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 3.6% 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: 431 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 $4k of loan paydown is wiped out by about $16k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $151k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($508k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago 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.
• Current owner paid $240k; list at $540k implies a 125% gain — meaningful room to come down on a strong offer.

Recommended offer $507,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.41% ✓
• Cap rate: 19.57%
• Cash-on-cash: 47.41%
• DSCR: 3.11
• GRM: 3.5

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: 44.8%
• Equity multiple: 2.94×
• Total profit: $293,475
• Equity at exit: $80,516

10-year hold

• IRR: 50.8%
• Equity multiple: 5.94×
• Total profit: $747,632
• Equity at exit: $46,689

Cash invested: $151,200 (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: 431
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $13,000 medium
• Mortgage (P&I): −$2,832
• Tax est. 1.5%: −$675 /mo · $8,100/yr
• Insurance: −$225
• HOA: −$565
• Vacancy / Maint / Mgmt: −$2,730
• Net cashflow: $5,973

Break-even live

Break-even rent $5,439

Max offer price $540,000

Occupancy floor 49%

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: $135,000
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
642 W Pine Ave #2 North Wildwood, NJ	3.0	1.0	1010	$13,000	$12.87	43d	1	0.34mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: landscapingsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   status $540,000 Active 64 DOM
2. 2026-06-04
   statusdays on market $540,000 Pending 64 DOM
3. 2026-06-02
   days on market $540,000 Active 63 DOM
4. 2026-06-01
   days on market $540,000 Active 62 DOM
5. 2026-05-31
   days on market $540,000 Active 61 DOM
6. 2026-05-05
   price $557,499 1075-char remark

   Show marketing remark (1075 chars)

   Welcome to 400 E Marina Ct, Unit 104, step into this beautiful 2 bedroom, 2 bath condo that comes complete with its own private beach! Whether you’re looking for a year-round residence, a weekend escape, or a smart investment property, this condo delivers. Unit can be rented weekly, seasonally, yearly. It is perfectly situated in the sought-after Anglesea section of North Wildwood. Location is everything and with its excellent proximity to some of North Wildwood’s best restaurants, lively bars, and seasonal festivals, there will always be something for the entire family to enjoy! Inside, the condo features an open layout designed for both relaxation and entertaining. The two spacious bedrooms and two full bathrooms provide plenty of comfort for family and guests. The Association is financially stable, and your fees include common insurances (F/F/L), landscaping and exterior building maintenance. The private beach is not guarded and is maintained by the Association. Don’t miss the opportunity to own a piece of paradise here in North Wildwood!

7. 2026-05-04
   price $557,499
8. 2026-03-31
   listed $559,999 Active
9. 2026-03-23
   listed $559,999 Active 1075-char remark

   Show marketing remark (1075 chars)

   Welcome to 400 E Marina Ct, Unit 104, step into this beautiful 2 bedroom, 2 bath condo that comes complete with its own private beach! Whether you’re looking for a year-round residence, a weekend escape, or a smart investment property, this condo delivers. Unit can be rented weekly, seasonally, yearly. It is perfectly situated in the sought-after Anglesea section of North Wildwood. Location is everything and with its excellent proximity to some of North Wildwood’s best restaurants, lively bars, and seasonal festivals, there will always be something for the entire family to enjoy! Inside, the condo features an open layout designed for both relaxation and entertaining. The two spacious bedrooms and two full bathrooms provide plenty of comfort for family and guests. The Association is financially stable, and your fees include common insurances (F/F/L), landscaping and exterior building maintenance. The private beach is not guarded and is maintained by the Association. Don’t miss the opportunity to own a piece of paradise here in North Wildwood!

10. 2026-03-23
    historical

    Show marketing remark (1075 chars)

    Welcome to 400 E Marina Ct, Unit 104, step into this beautiful 2 bedroom, 2 bath condo that comes complete with its own private beach! Whether you’re looking for a year-round residence, a weekend escape, or a smart investment property, this condo delivers. Unit can be rented weekly, seasonally, yearly. It is perfectly situated in the sought-after Anglesea section of North Wildwood. Location is everything and with its excellent proximity to some of North Wildwood’s best restaurants, lively bars, and seasonal festivals, there will always be something for the entire family to enjoy! Inside, the condo features an open layout designed for both relaxation and entertaining. The two spacious bedrooms and two full bathrooms provide plenty of comfort for family and guests. The Association is financially stable, and your fees include common insurances (F/F/L), landscaping and exterior building maintenance. The private beach is not guarded and is maintained by the Association. Don’t miss the opportunity to own a piece of paradise here in North Wildwood!

11. 2026-03-23
    historical Expired

    Show marketing remark (1075 chars)

    Welcome to 400 E Marina Ct, Unit 104, step into this beautiful 2 bedroom, 2 bath condo that comes complete with its own private beach! Whether you’re looking for a year-round residence, a weekend escape, or a smart investment property, this condo delivers. Unit can be rented weekly, seasonally, yearly. It is perfectly situated in the sought-after Anglesea section of North Wildwood. Location is everything and with its excellent proximity to some of North Wildwood’s best restaurants, lively bars, and seasonal festivals, there will always be something for the entire family to enjoy! Inside, the condo features an open layout designed for both relaxation and entertaining. The two spacious bedrooms and two full bathrooms provide plenty of comfort for family and guests. The Association is financially stable, and your fees include common insurances (F/F/L), landscaping and exterior building maintenance. The private beach is not guarded and is maintained by the Association. Don’t miss the opportunity to own a piece of paradise here in North Wildwood!

12. 2025-11-26
    price $559,999
13. 2025-11-26
    price $559,999
14. 2025-10-10
    listed $569,999 Active
15. 2025-09-26
    listed $569,999 Active
16. 2009-07-24
    soldstatus $240,000
17. 2009-04-20
    listed $275,000
18. 2008-04-30
    historical
19. 2008-02-14
    listed $318,000
20. 2008-01-31
    historical
21. 2007-07-31
    listed $329,000

ⓘ 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: $156,000
• − Mortgage interest: −$30,248
• − Property taxes: −$8,100
• − Insurance: −$2,700
• − Repairs & maintenance: −$12,480
• − Management: −$12,480
• − HOA: −$6,780
• − Depreciation: −$15,709
• Taxable income: $67,503
• Est. tax owed @ 24.0%: −$16,201
• After-tax cash flow: $55,478/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

+69.5% since first listed

16 events — show timeline

• 2026-05-05 Price Changed $557,499 CMCMLS
• 2026-05-04 Price Changed $557,499 BRIGHT MLS
• 2026-03-31 Listed $559,999 BRIGHT MLS
• 2026-03-23 Listing Removed — BRIGHT MLS
• 2026-03-23 Listed $559,999 CMCMLS
• 2026-03-23 Delisted — CMCMLS
• 2025-11-26 Price Changed $559,999 CMCMLS
• 2025-11-26 Price Changed $559,999 BRIGHT MLS
• 2025-10-10 Listed $569,999 BRIGHT MLS
• 2025-09-26 Listed $569,999 CMCMLS
• 2009-07-24 Sold (MLS) $240,000 CMCMLS
• 2009-04-20 Listed $275,000 CMCMLS
• 2008-04-30 Listing Removed — BRIGHT MLS
• 2008-02-14 Listed $318,000 BRIGHT MLS
• 2008-01-31 Listing Removed — BRIGHT MLS
• 2007-07-31 Listed $329,000 BRIGHT MLS