426 N Connecticut Ave · Atlantic City, NJ 08401-2712

$260,000

4 bd · 2.0 ba · 2,080 sqft · SingleFamily public records · 124 Days on market

Built 1900

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.0/10.0
• Appreciation +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

Key facts

• Spacious lot size
• Gardner's basin area
• Garage

Tags

• HISTORIC BUNGALOW PARK
• SPACIOUS LOT SIZE
• LARGE DETACHED TWO-CAR GARAGE
• GARDNER'S BASIN AREA

Property features AI

Finance

• Other: Suitable for condo conversion
• Financial info: Two-unit multifamily (2 total units, including 2 two-bedroom units); Annual taxes listed as paid by owner
• HOA & community: Rent control applies

Exterior

• Parking: Attached garage; One-and-a-half car exterior parking
• Utilities: Public water; Public sewer; Separate electric meters
• Home design: Condo conversion opportunity; Estate property; For sale
• Construction: Vinyl siding; Property is over 25 years old; Located in a floodplain
• Exterior features: Curbs; Fenced yard; Porch (including enclosed porch); Sidewalks; Property needs work; Corner lot; Other site features noted in remarks

Interior

• Kitchen: Kitchen in each unit
• Bedrooms: Two 2-bedroom units (one lower level, one upper level)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Radiant heating; Radiator heating
• Interior features: Dining room; Kitchen; Living room

🏷️ Possibly a rental listed for sale. The $260,000 price doesn't fit this home's estimated sale value (~$536,640) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $1 ($12/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.7% in Atlantic 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 55/100 on livability (#525 in NJ) — a working-class tenant base; expect higher turnover. Strengths: health & safety A; Watch: commute D, crime F, amenities F.
• Atlantic City School District (urban): math 9% / reading 26% proficiency, ranked #454 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Uptown School Complex (math 2% / reading 16%, grade F, #1,252 of 1,303 statewide, top 96%, 556 students, 93% FRL); Atlantic City High School (math 12% / reading 32%, grade F, #346 of 399 statewide, top 88%, 1,764 students, 80% FRL) — zoned schools at 87% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• 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 $73k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $60k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F 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?
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: 1.10% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $536,640
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
554 N Connecticut Ave	0.15mi	3/3.0 (-1)	1,986 (-4%)	2mo	$879,000	$443	75
441 N Connecticut Ave	0.04mi	3/2.0 (-1)	1,869 (-10%)	7mo	$215,000	$115	71
46 N Maryland	0.42mi	4/2.5	1,900 (-9%)	2mo	$233,500	$123	62
851 N Massachusetts Ave	0.27mi	4/3.5	2,148 (+3%)	20mo	$555,000	$258	60

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: 7.6%
• Equity multiple: 1.44×
• Total profit: $31,711
• Equity at exit: $116,907

10-year hold

• IRR: 10.3%
• Equity multiple: 2.56×
• Total profit: $113,280
• Equity at exit: $180,168

Cash invested: $72,800 (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 08401-2712

• Active inventory: 1
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,854 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$355 /mo · $4,262/yr
• Insurance: −$108
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $1

Break-even live

Break-even rent $2,853

Max offer price $260,000

Occupancy floor 95%

Sensitivity live

Price	-10% $148	-5% $75	+0% $1	+5% $-73	+10% $-146
Rent	-10% $-224	-5% $-112	+0% $1	+5% $114	+10% $226
Rate	-1.0pp $132	-0.5pp $67	base $1	+0.5pp $-66	+1.0pp $-135

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Barrett Ave Unit A Atlantic City, NJ	4.0	3.5	2156	$3,500	$1.62	23d	1	0.22mi
10 Starboard Ct #10 Atlantic City, NJ	3.0	2.5	1680	$2,400	$1.43	15d	1	0.27mi
326 N Tennessee Ave Unit 2 Atlantic City, NJ	3.0	1.0	1815	$2,200	$1.21	15d	1	0.62mi
5217 Harbor Beach Blvd Brigantine, NJ	3.0	2.5	2200	$2,900	$1.32	23d	1	1.02mi
2402 Auburn Ter Unit B Atlantic City, NJ	3.0	1.0	1893	$2,000	$1.06	23d	1	1.44mi
433 Albacore Ln Brigantine, NJ	3.0	2.5	1900	$2,750	$1.45	23d	1	1.45mi

Listing history 25 events

1. 2026-06-21
   days on market $260,000 Under Contract 124 DOM
2. 2026-06-19
   days on market $260,000 Under Contract 122 DOM
3. 2026-06-18
   days on market $260,000 Under Contract 121 DOM
4. 2026-06-17
   days on market $260,000 Under Contract 120 DOM
5. 2026-06-16
   days on market $260,000 Under Contract 119 DOM
6. 2026-06-15
   days on market $260,000 Under Contract 118 DOM
7. 2026-06-14
   days on market $260,000 Under Contract 116 DOM
8. 2026-06-13
   days on market $260,000 Under Contract 115 DOM
9. 2026-06-10
   days on market $260,000 Under Contract 113 DOM
10. 2026-06-09
    days on market $260,000 Under Contract 112 DOM
11. 2026-06-08
    days on market $260,000 Under Contract 111 DOM
12. 2026-06-07
    days on market $260,000 Under Contract 110 DOM
13. 2026-06-02
    days on market $260,000 Under Contract 105 DOM
14. 2026-06-01
    days on market $260,000 Under Contract 104 DOM
15. 2026-05-31
    days on market $260,000 Under Contract 103 DOM
16. 2026-05-30
    days on market $260,000 Under Contract 102 DOM
17. 2026-03-19
    historical Under Contract - Continue to Show
18. 2026-03-01
    price $260,000
19. 2026-02-17
    listed $320,000 Active
20. 2025-07-13
    status Active - Back on Market 2874-char remark

    Show marketing remark (2874 chars)

    Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

21. 2025-07-13
    historical 2874-char remark

    Show marketing remark (2874 chars)

    Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

22. 2025-03-14
    historical Under Contract 2874-char remark

    Show marketing remark (2874 chars)

    Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

23. 2025-03-10
    historical 2874-char remark

    Show marketing remark (2874 chars)

    Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

24. 2025-02-16
    price $270,000 2874-char remark

    Show marketing remark (2874 chars)

    Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

25. 2025-02-15
    listed $240,000 Active 2874-char remark

    Show marketing remark (2874 chars)

    Introducing an exceptional investment opportunity tucked within Historic Bungalow Park area of Atlantic City. This 2 family home at 426 N Connecticut Avenue offers a versatile setting for investors seeking a robust addition to their portfolio. With a spacious lot size of 3,100 square feet and an interior floor area spanning 2,080 square feet, this duplex provides ample room and potential for customization, ensuring it a promising investment choice. The home is dated and needs work but has enormous potential. The strategically designed layout features 2 generous bedrooms and 2 bathrooms, easily accommodating varied needs and maximizing living possibilities. The interior's thoughtful configuration facilitates a comfortable and functional living environment, making it ideal for tenants ranging from families to professionals seeking a blend of comfort and convenience. A standout feature is the large detached two-car garage, offering not only secure parking but also additional storage space. This feature is particularly appealing in a bustling city landscape, providing a rare and valuable benefit for prospective tenants. The provision of such substantial parking facilities could also potentially serve as a unique selling point, enhancing tenant retention. This home is located in the Gardner's Basin area of the city, the property is mere moments from key local amenities, enhancing its appeal to potential renters. Just 0.5 miles away, you'll find the historic Atlantic City Boardwalk, renowned for its vibrant entertainment, dining, and retail offerings. Nearby, New York Avenue School, known for its well-rated academic programs, is just a short 0.7-mile drive, adding family appeal to the vicinity. For leisure and outdoor activities, Gardner's Basin, offering a picturesque escape along several harbors where many fishing boats dock and unload is only a short distance away. Relax in the evening and take in the sunset behind the Marina casinos. The unique combination of location, layout, and amenities makes this property a compelling choice for investors aiming to secure steady rental income in a thriving market. If you're an investor seeking a solid opportunity with the promise of return, explore the potential that 426 N Connecticut Avenue offers. This property stands out, not just for its features, but for its strategic positioning within Atlantic City's coveted landscape. Seize the opportunity to invest in a property that combines convenience, versatility, and exceptional location. Contact us today to schedule a viewing or for more detailed information. Property does need updating and is being sold in "As-Is" condition. Don't miss this opportunity to expand your portfolio with a property that promises both immediate and long-term value. Property in Multiple offer Round Process. Highest and best offers due Tuesday 3-4-2025.

ⓘ 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: $4,262 · $355/mo
• Projected year-2 tax: $5,368 · $447/mo
• Expected delta: +$1,106/yr (+$92/mo · 25.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,247
• − Mortgage interest: −$14,564
• − Property taxes: −$4,262
• − Insurance: −$6,418
• − Repairs & maintenance: −$2,740
• − Management: −$2,740
• − Depreciation: −$7,564
• Taxable loss: −$4,041
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $982/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: Atlantic City School District
• NCES district ID: 3400960
• Math proficiency: 9% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $27,842
• Composite: 13.66/100
• National rank: #9504
• State rank: #454 of 472 in NJ

Livability — Atlantic City

• Score: 55/100
• State rank: #525
• US rank: #23095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlantic City, NJ

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+8.3% since first listed

9 events — show timeline

• 2026-03-19 Contingent — SJSRMLS
• 2026-03-01 Price Changed $260,000 SJSRMLS
• 2026-02-17 Listed $320,000 SJSRMLS
• 2025-07-13 Relisted — SJSRMLS
• 2025-07-13 Listing Removed — SJSRMLS
• 2025-03-14 Contingent — SJSRMLS
• 2025-03-10 Listing Removed — SJSRMLS
• 2025-02-16 Price Changed $270,000 SJSRMLS
• 2025-02-15 Listed $240,000 SJSRMLS

Property tax history

-1.5%/yr

Latest (2025): $4,262 · -2.2% YoY. Source: county tax records.