925 Atlantic Ave · Atlantic City, NJ 08401

$1,350,000

None bd · None ba · 15,036 sqft · MultiFamily public records · 819 Days on market

Built 1920

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Approved Green Zone! 1 Block to new Indoor Island Waterpark! Massive building with limitless potential, Super LOW Taxes! Located in the CBD zone, in the very heart of the city! Just one block to the Hardrock, Steel Pier, Ocean Casino, Resorsts, Margaritaville, and Showboat Casinos, and just 2 blocks to the worlds most famous beach and boardwalk! Close to Tanger Outlets, Gardners Basin, Borgate, Harrahs, Golden Nugget, Little Water Distillery, Back Bay Alehouse, The Seed Brewery, & Farley Marina. Building features two commercial spaces each of which are over 3000 square feet, over 6000 sqft combined. The top two floors are framed up to fit 8 three bedrooms and 4 one bedroom residential units. All the heavy lifting has been done, the property has been fully gutted done to the brickwork, all asbestos removed, the building is structurally sound, all new windows throughout, all new flooring joists, all floors are level, and all framed up for 12 residential units. Pro-forma and floor plans are available upon request. Private financing available to Investors with appropriate collateral!! Showings can be on Thursday afternoons only. Buy now with a few Bitcoins!

Key facts

• 3 parking spots
• Listed 818 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $4k ($45k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.35M).
• Recommended offer: $1.19M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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, schools F, crime 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.
• Market conditions: Rents rising fast (+5.5%/yr); 482 active listings in the ZIP; lower-income renter base — watch delinquency; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $17,072/mo this rent would consume 498% of the median local household income ($41k/yr) (locally 3414% 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 $9k of loan paydown is wiped out by about $40k 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 + 5.5% rent growth), your $378k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 819 days — a 12% lower offer ($1.19M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $150k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $205k; list at $1.35M implies a 559% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — 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 8→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,188,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 819 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 1920 — 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 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: 1.26% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.52% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.17×
• Total profit: $63,753
• Equity at exit: $201,289

10-year hold

• IRR: 16.0%
• Equity multiple: 2.47×
• Total profit: $555,343
• Equity at exit: $116,723

Cash invested: $378,000 (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 08401

• Home prices YoY: -7.0%
• Rents YoY: 5.5%
• Active inventory: 482
• Price-to-rent: 45.4×

Monthly cashflow live

• Estimated rent: $17,072 high
• Mortgage (P&I): −$7,080
• Tax est. 1.5%: −$1,688 /mo · $20,250/yr
• Insurance: −$562
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,585
• Net cashflow: $3,731

Break-even live

Break-even rent $12,349

Max offer price $1,350,000

Occupancy floor 73%

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$9,904
▸ 4× units	1	1	$7,168
Total (8 units)			$17,072

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $1,350,000 Active 819 DOM
2. 2026-06-18
   days on market $1,350,000 Active 818 DOM
3. 2026-06-17
   days on market $1,350,000 Active 817 DOM
4. 2026-06-16
   days on market $1,350,000 Active 816 DOM
5. 2026-06-15
   days on market $1,350,000 Active 815 DOM
6. 2026-06-14
   days on market $1,350,000 Active 813 DOM
7. 2026-06-13
   days on market $1,350,000 Active 812 DOM
8. 2026-06-10
   days on market $1,350,000 Active 810 DOM
9. 2026-06-09
   days on market $1,350,000 Active 809 DOM
10. 2026-06-08
    days on market $1,350,000 Active 808 DOM
11. 2026-06-07
    days on market $1,350,000 Active 807 DOM
12. 2026-06-02
    days on market $1,350,000 Active 802 DOM
13. 2026-06-01
    days on market $1,350,000 Active 801 DOM
14. 2026-05-31
    days on market $1,350,000 Active 800 DOM
15. 2026-05-30
    days on market $1,350,000 Active 799 DOM
16. 2025-12-03
    price $1,350,000 1176-char remark

    Show marketing remark (1176 chars)

    Approved Green Zone! 1 Block to new Indoor Island Waterpark! Massive building with limitless potential, Super LOW Taxes! Located in the CBD zone, in the very heart of the city! Just one block to the Hardrock, Steel Pier, Ocean Casino, Resorsts, Margaritaville, and Showboat Casinos, and just 2 blocks to the worlds most famous beach and boardwalk! Close to Tanger Outlets, Gardners Basin, Borgate, Harrahs, Golden Nugget, Little Water Distillery, Back Bay Alehouse, The Seed Brewery, & Farley Marina. Building features two commercial spaces each of which are over 3000 square feet, over 6000 sqft combined. The top two floors are framed up to fit 8 three bedrooms and 4 one bedroom residential units. All the heavy lifting has been done, the property has been fully gutted done to the brickwork, all asbestos removed, the building is structurally sound, all new windows throughout, all new flooring joists, all floors are level, and all framed up for 12 residential units. Pro-forma and floor plans are available upon request. Private financing available to Investors with appropriate collateral!! Showings can be on Thursday afternoons only. Buy now with a few Bitcoins!

17. 2024-03-22
    listed $1,500,000 Active 1176-char remark

    Show marketing remark (1176 chars)

    Approved Green Zone! 1 Block to new Indoor Island Waterpark! Massive building with limitless potential, Super LOW Taxes! Located in the CBD zone, in the very heart of the city! Just one block to the Hardrock, Steel Pier, Ocean Casino, Resorsts, Margaritaville, and Showboat Casinos, and just 2 blocks to the worlds most famous beach and boardwalk! Close to Tanger Outlets, Gardners Basin, Borgate, Harrahs, Golden Nugget, Little Water Distillery, Back Bay Alehouse, The Seed Brewery, & Farley Marina. Building features two commercial spaces each of which are over 3000 square feet, over 6000 sqft combined. The top two floors are framed up to fit 8 three bedrooms and 4 one bedroom residential units. All the heavy lifting has been done, the property has been fully gutted done to the brickwork, all asbestos removed, the building is structurally sound, all new windows throughout, all new flooring joists, all floors are level, and all framed up for 12 residential units. Pro-forma and floor plans are available upon request. Private financing available to Investors with appropriate collateral!! Showings can be on Thursday afternoons only. Buy now with a few Bitcoins!

18. 2023-09-01
    historical 1047-char remark

    Show marketing remark (1047 chars)

    Approved Green Zone! 1 Block to new Waterpark! Massive building with limitless potential, Super LOW Taxes! Located in the CBD zone, in the very heart of the city! Just one block to the Hardrock, Ocean, and Showboat Casinos and the site of the new Indoor Waterpark coming soon and just 2 blocks to the worlds most famous beach and boardwalk! Building features two commercial spaces each of which are over 3000 square feet, over 6000 sqft combined. The top two floors are framed up to fit 8 three bedrooms and 4 one bedroom residential units. All the heavy lifting has been done, the property has been fully gutted done to the brickwork, all asbestos removed, the building is structurally sound, all new windows throughout, all new flooring joists, all floors are level, and all framed up for 12 residential units. Pro-forma and floor plans are available upon request. Purchase this property with your Crypto Currency!! Showings can be on Thursday afternoons only. Buy now with a few Bitcoins or ask about Private Financing Available Starting at 10%

19. 2023-04-28
    listed $1,300,000 Active 1047-char remark

    Show marketing remark (1047 chars)

    Approved Green Zone! 1 Block to new Waterpark! Massive building with limitless potential, Super LOW Taxes! Located in the CBD zone, in the very heart of the city! Just one block to the Hardrock, Ocean, and Showboat Casinos and the site of the new Indoor Waterpark coming soon and just 2 blocks to the worlds most famous beach and boardwalk! Building features two commercial spaces each of which are over 3000 square feet, over 6000 sqft combined. The top two floors are framed up to fit 8 three bedrooms and 4 one bedroom residential units. All the heavy lifting has been done, the property has been fully gutted done to the brickwork, all asbestos removed, the building is structurally sound, all new windows throughout, all new flooring joists, all floors are level, and all framed up for 12 residential units. Pro-forma and floor plans are available upon request. Purchase this property with your Crypto Currency!! Showings can be on Thursday afternoons only. Buy now with a few Bitcoins or ask about Private Financing Available Starting at 10%

20. 2023-01-01
    historical
21. 2022-07-22
    listed $1,100,000 Active
22. 2022-06-20
    historical
23. 2022-01-19
    price $1,250,000
24. 2021-11-18
    listed $999,000 Active
25. 2021-08-01
    historical
26. 2021-04-29
    listed $799,000 Active
27. 2003-02-28
    soldstatus $205,000
28. 1985-10-01
    soldstatus $200,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 8 d/yr ≥94°F today · 18 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: $204,864
• − Mortgage interest: −$75,621
• − Property taxes: −$20,250
• − Insurance: −$11,868
• − Repairs & maintenance: −$16,389
• − Management: −$16,389
• − Depreciation: −$39,273
• Taxable income: $25,074
• Est. tax owed @ 24.0%: −$6,018
• After-tax cash flow: $38,752/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
• County: Atlantic County · 143,611 people
• City population: 38,925
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 38,925
• Household income: $41,126
• Rent vs Own: 69.8% rent · 30.2% own
• Severe rent burden: 3414.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Hispanic / Latino 32% Black 32% Asian 16% White 16% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 8% Dominican 8%
• Common ancestry: Romanian 1% Scotch-Irish 1%
• Foreign-born: 29% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 30% Other Indo-European 8% Vietnamese 3%

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: ▼ -26.82%
• Current HPI: 353.7827
• Rent YoY: ▲ 5.52%
• 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

+575.0% since first listed

13 events — show timeline

• 2025-12-03 Price Changed $1,350,000 SJSRMLS
• 2024-03-22 Listed $1,500,000 SJSRMLS
• 2023-09-01 Listing Removed — SJSRMLS
• 2023-04-28 Listed $1,300,000 SJSRMLS
• 2023-01-01 Listing Removed — SJSRMLS
• 2022-07-22 Listed $1,100,000 SJSRMLS
• 2022-06-20 Listing Removed — SJSRMLS
• 2022-01-19 Price Changed $1,250,000 SJSRMLS
• 2021-11-18 Listed $999,000 SJSRMLS
• 2021-08-01 Listing Removed — SJSRMLS
• 2021-04-29 Listed $799,000 SJSRMLS
• 2003-02-28 Sold (Public Records) $205,000 Public Records
• 1985-10-01 Sold (Public Records) $200,000 Public Records

Property tax history

-14.2%/yr

Latest (2025): $2,542 · -2.1% YoY. Source: county tax records.