119 N Madison #B Ave #B · Margate City, NJ 08402

$2,650,000

5 bd · 5.5 ba · 3,500 sqft · Land · 141 Days on market

Built 2026 $757/sqft · 60% above area

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Luxury new construction, featuring 5 “en’suites” & 5.5 luxurious bathrooms, plus a convertible den. Located in Margate’s highly desirable Marina District boasting perhaps, the most convenient location on the island. Allowing for a quick and pleasant stroll to Margate's fun and exciting shopping district, casual and fine dining establishments, kid friendly entertainment and of course, Margate's best beaches. You will be amazed at the architectural ingenuity and creativity on full display, taking advantage of the newest elevation 14 design. Exterior features include, maintenance free Hardy backer siding, beautifully accented with Azek trim boards and complemented with the use of a standing seam roof and stone foundation. The oasis like rear yard is the epitome of Shore living, featuring super sized veranda area, overlooking your enormous private rear yard, highlighted with a 16 x 12 Gunite heated pool. Grade level features include- 2 car garage leading into your foyer area with private Elevator which leads to a double slider providing easy access to the rear yard entertaining space. 1st level features open floor plan concept with oversized windows and soaring ceilings creating dramatic space. The family friendly chef kitchen is highlighted with large center island which easily will accommodate 5 stools and boasts custom cabinetry, complete with accent and task lighting, Quartz countertops and high-end appliances. The oversize living room is plenty large for entertaining all of your family and guests and Leads to a large sun deck. The rear of the level offers a “true” laundry area, half bath and den with double slider leading to another entraining deck, overlooking the pool area. 2nd level offers 3 oversized and luxurious en’suites with the rear bedroom having a private deck, overlooking the rear yard. The primary suite offering dual vanities, amazing fully loaded shower, custom tiles, walk-in closet, and private deck access. A 2 nd laundry room rounds out the level. 3rd level offers a rare amenity, 2 large bedrooms, both being en’suites along with a common entertaining deck. This development project is truly one of a kind! Builder/Seller reserves the right to change the architectural drawings/amenities with no notice whatsoever.

Key facts

• Standing seam roof
• Oasis like rear yard
• New construction

Tags

• NEW CONSTRUCTION
• MARINA DISTRICT
• MAINTENANCE FREE SIDING
• STANDING SEAM ROOF
• STONE FOUNDATION
• OASIS LIKE REAR YARD

What this means for you Summary

Snapshot

• This is a 5-bed/5.5-bath land listed at $2.65M.

Deal economics

• At list price, monthly cash flow is $-5k ($-56k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.83M (31.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.42M (46.2% below list).
• Recommended offer: $1.42M (46.2% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 7.4% in Margate City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $14,246/mo this rent would consume 140% 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 $18k of loan paydown is wiped out by about $80k 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.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($2.33M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $1.45M; list at $2.65M implies a 83% gain — meaningful room to come down on a strong offer.

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 $1,424,558 (46.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.54% ✗
• Cap rate: 4.38%
• Cash-on-cash: -6.84%
• DSCR: 0.70
• GRM: 15.5

CMA / ARV

• ARV (median comp): $1,658,218
• List price: $2,650,000
• Delta: 59.81%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.12×
• Total profit: $-652,015
• Equity at exit: $395,124

10-year hold

• IRR: -11.8%
• Equity multiple: 0.17×
• Total profit: $-612,187
• Equity at exit: $229,124

Cash invested: $742,000 (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 08402

• Rents YoY: 8.9%
• Active inventory: 147
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $14,246 medium
• Mortgage (P&I): −$13,897
• Tax from tax record: −$484 /mo · $5,804/yr
• Insurance: −$1,104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,992
• Net cashflow: $-4,657

Break-even live

Break-even rent $20,141

Max offer price $1,827,273

Occupancy floor —

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: $662,500
• Closing costs: $79,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9411 Winchester Ave Margate City, NJ	5.0	3.5	2776	$11,500	$4.14	43d	1	0.08mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	20d	1	0.13mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	13d	1	1.10mi
7611 Ventnor Ave Margate City, NJ	6.0	4.0	2717	$34,000	$12.51	20d	1	1.33mi
111 N Belmont Ave Margate City, NJ	5.0	3.5	3200	$35,000	$10.94	20d	1	1.45mi

Listing history 25 events

1. 2026-06-19
   days on market $2,650,000 Active 141 DOM
2. 2026-06-18
   days on market $2,650,000 Active 140 DOM
3. 2026-06-17
   days on market $2,650,000 Active 139 DOM
4. 2026-06-16
   days on market $2,650,000 Active 138 DOM
5. 2026-06-15
   days on market $2,650,000 Active 137 DOM
6. 2026-06-14
   days on market $2,650,000 Active 135 DOM
7. 2026-06-13
   days on market $2,650,000 Active 134 DOM
8. 2026-06-10
   days on market $2,650,000 Active 132 DOM
9. 2026-06-09
   days on market $2,650,000 Active 131 DOM
10. 2026-06-08
    days on market $2,650,000 Active 130 DOM
11. 2026-06-07
    days on market $2,650,000 Active 129 DOM
12. 2026-06-05
    days on market $2,650,000 Active 126 DOM
13. 2026-06-02
    days on market $2,650,000 Active 124 DOM
14. 2026-06-01
    days on market $2,650,000 Active 123 DOM
15. 2026-05-31
    days on market $2,650,000 Active 122 DOM
16. 2026-05-30
    days on market $2,650,000 Active 121 DOM
17. 2026-01-29
    historical Under Contract 2322-char remark

    Show marketing remark (2322 chars)

    Luxury new construction, featuring 5 “en’suites” & 5.5 luxurious bathrooms, plus a convertible den. Located in Margate’s highly desirable Marina District boasting perhaps, the most convenient location on the island. Allowing for a quick and pleasant stroll to Margate's fun and exciting shopping district, casual and fine dining establishments, kid friendly entertainment and of course, Margate's best beaches. You will be amazed at the architectural ingenuity and creativity on full display, taking advantage of the newest elevation 14 design. Exterior features include, maintenance free Hardy backer siding, beautifully accented with Azek trim boards and complemented with the use of a standing seam roof and stone foundation. The oasis like rear yard is the epitome of Shore living, featuring super sized veranda area, overlooking your enormous private rear yard, highlighted with a 16 x 12 Gunite heated pool. Grade level features include- 2 car garage leading into your foyer area with private Elevator which leads to a double slider providing easy access to the rear yard entertaining space. 1st level features open floor plan concept with oversized windows and soaring ceilings creating dramatic space. The family friendly chef kitchen is highlighted with large center island which easily will accommodate 5 stools and boasts custom cabinetry, complete with accent and task lighting, Quartz countertops and high-end appliances. The oversize living room is plenty large for entertaining all of your family and guests and Leads to a large sun deck. The rear of the level offers a “true” laundry area, half bath and den with double slider leading to another entraining deck, overlooking the pool area. 2nd level offers 3 oversized and luxurious en’suites with the rear bedroom having a private deck, overlooking the rear yard. The primary suite offering dual vanities, amazing fully loaded shower, custom tiles, walk-in closet, and private deck access. A 2 nd laundry room rounds out the level. 3rd level offers a rare amenity, 2 large bedrooms, both being en’suites along with a common entertaining deck. This development project is truly one of a kind! Builder/Seller reserves the right to change the architectural drawings/amenities with no notice whatsoever.

18. 2026-01-29
    listed $2,650,000 Active 2322-char remark

    Show marketing remark (2322 chars)

    Luxury new construction, featuring 5 “en’suites” & 5.5 luxurious bathrooms, plus a convertible den. Located in Margate’s highly desirable Marina District boasting perhaps, the most convenient location on the island. Allowing for a quick and pleasant stroll to Margate's fun and exciting shopping district, casual and fine dining establishments, kid friendly entertainment and of course, Margate's best beaches. You will be amazed at the architectural ingenuity and creativity on full display, taking advantage of the newest elevation 14 design. Exterior features include, maintenance free Hardy backer siding, beautifully accented with Azek trim boards and complemented with the use of a standing seam roof and stone foundation. The oasis like rear yard is the epitome of Shore living, featuring super sized veranda area, overlooking your enormous private rear yard, highlighted with a 16 x 12 Gunite heated pool. Grade level features include- 2 car garage leading into your foyer area with private Elevator which leads to a double slider providing easy access to the rear yard entertaining space. 1st level features open floor plan concept with oversized windows and soaring ceilings creating dramatic space. The family friendly chef kitchen is highlighted with large center island which easily will accommodate 5 stools and boasts custom cabinetry, complete with accent and task lighting, Quartz countertops and high-end appliances. The oversize living room is plenty large for entertaining all of your family and guests and Leads to a large sun deck. The rear of the level offers a “true” laundry area, half bath and den with double slider leading to another entraining deck, overlooking the pool area. 2nd level offers 3 oversized and luxurious en’suites with the rear bedroom having a private deck, overlooking the rear yard. The primary suite offering dual vanities, amazing fully loaded shower, custom tiles, walk-in closet, and private deck access. A 2 nd laundry room rounds out the level. 3rd level offers a rare amenity, 2 large bedrooms, both being en’suites along with a common entertaining deck. This development project is truly one of a kind! Builder/Seller reserves the right to change the architectural drawings/amenities with no notice whatsoever.

19. 2025-11-15
    listed $2,450,000 Active 2322-char remark

    Show marketing remark (2322 chars)

    Luxury new construction, featuring 5 “en’suites” & 5.5 luxurious bathrooms, plus a convertible den. Located in Margate’s highly desirable Marina District boasting perhaps, the most convenient location on the island. Allowing for a quick and pleasant stroll to Margate's fun and exciting shopping district, casual and fine dining establishments, kid friendly entertainment and of course, Margate's best beaches. You will be amazed at the architectural ingenuity and creativity on full display, taking advantage of the newest elevation 14 design. Exterior features include, maintenance free Hardy backer siding, beautifully accented with Azek trim boards and complemented with the use of a standing seam roof and stone foundation. The oasis like rear yard is the epitome of Shore living, featuring super sized veranda area, overlooking your enormous private rear yard, highlighted with a 16 x 12 Gunite heated pool. Grade level features include- 2 car garage leading into your foyer area with private Elevator which leads to a double slider providing easy access to the rear yard entertaining space. 1st level features open floor plan concept with oversized windows and soaring ceilings creating dramatic space. The family friendly chef kitchen is highlighted with large center island which easily will accommodate 5 stools and boasts custom cabinetry, complete with accent and task lighting, Quartz countertops and high-end appliances. The oversize living room is plenty large for entertaining all of your family and guests and Leads to a large sun deck. The rear of the level offers a “true” laundry area, half bath and den with double slider leading to another entraining deck, overlooking the pool area. 2nd level offers 3 oversized and luxurious en’suites with the rear bedroom having a private deck, overlooking the rear yard. The primary suite offering dual vanities, amazing fully loaded shower, custom tiles, walk-in closet, and private deck access. A 2 nd laundry room rounds out the level. 3rd level offers a rare amenity, 2 large bedrooms, both being en’suites along with a common entertaining deck. This development project is truly one of a kind! Builder/Seller reserves the right to change the architectural drawings/amenities with no notice whatsoever.

20. 2024-04-30
    soldstatus $1,450,000
21. 2024-04-08
    soldstatus $1,450,000 Sold
22. 2024-01-06
    historical Under Contract
23. 2024-01-03
    listed $1,500,000 Active
24. 1991-11-18
    soldstatus $115,000
25. 1986-10-28
    soldstatus $90,000

ⓘ 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: $5,804 · $484/mo
• Projected year-2 tax: $35,895 · $2,991/mo
• Expected delta: +$30,090/yr (+$2,508/mo · 518.4%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥97°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: $170,947
• − Mortgage interest: −$148,441
• − Property taxes: −$5,804
• − Insurance: −$18,368
• − Repairs & maintenance: −$13,676
• − Management: −$13,676
• − Depreciation: −$77,091
• Taxable loss: −$106,109
• Est. tax savings @ 24.0%: +$25,466
• After-tax cash flow: $-30,421/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

+2844.4% since first listed

9 events — show timeline

• 2026-01-29 Contingent — SJSRMLS
• 2026-01-29 Listed $2,650,000 SJSRMLS
• 2025-11-15 Listed $2,450,000 SJSRMLS
• 2024-04-30 Sold (Public Records) $1,450,000 Public Records
• 2024-04-08 Sold (MLS) $1,450,000 SJSRMLS
• 2024-01-06 Contingent — SJSRMLS
• 2024-01-03 Listed $1,500,000 SJSRMLS
• 1991-11-18 Sold (Public Records) $115,000 Public Records
• 1986-10-28 Sold (Public Records) $90,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $5,804 · -7.0% YoY. Source: county tax records.