1203 Seaboard Cir #1203 · North Wildwood, NJ 08260

$849,900

3 bd · 2.0 ba · 2,030 sqft · Condo public records · 94 Days on market

Built 2006 ↓ 3% since listing

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.6/10.0
• 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

Welcome to The Tides at Seaboard Point, a one-of-a-kind waterfront condominium complex located on the bay in the Anglesea section of North Wildwood. This sought-after community consists of 96 residential units across four buildings, offering spectacular water views. Each residence enjoys either sweeping bay views to the west, stunning ocean sunrise views to the east, or in some cases, both. Residents enjoy an array of exceptional amenities, including assigned under-building parking with direct elevator access, and more than 100 additional first-come parking spaces within the circular drive, private storage areas for each unit, and convenient USPS mail service located in the elevator lobbies

Key facts

• Garage
• Community pool
• Built 2006

Property features AI

Finance

• HOA & community: Condo fee of $1,030; Community amenities include pool, clubhouse, tennis court and elevator

Exterior

• Parking: Attached garage; Assigned parking; Shared driveway; Blacktop driveway; Other parking (see remarks)
• Utilities: City water; City sewer; Gas hot water
• Home design: Condominium unit (Unit 1203); Year-round use; Owners allowed pets
• Construction: First-floor master (layout detail)
• Exterior features: Water view; Patio; Deck/porch; Enclosed/covered porch; Outside shower; Pool; Whirlpool/spa; Clubhouse/clubroom; Tennis court

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher; Kitchen island
• Bedrooms: 3 bedrooms (unit 1203; master on first floor)
• Flooring: Wall-to-wall carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Living room; Dining area; Storage space; 1st floor master bedroom; Kitchen center island; Wall-to-wall carpet
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $850k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $850k).
• Recommended offer: $773k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 $6k of loan paydown is wiped out by about $25k 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.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($773k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $773,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.16% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 7.2

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-40,326
• Equity at exit: $126,723

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $91,435
• Equity at exit: $73,484

Cash invested: $237,972 (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: 7.2×

Monthly cashflow live

• Estimated rent: $9,900 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$581 /mo · $6,974/yr
• Insurance: −$354
• HOA est. from 1 same-building comp: −$906
• Vacancy / Maint / Mgmt: −$2,079
• Net cashflow: $1,523

Break-even live

Break-even rent $7,972

Max offer price $849,900

Occupancy floor 80%

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: $212,475
• Closing costs: $25,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Seaspray Ct Wildwood, NJ	3.0	2.5	1650	$9,900	$6.00	44d	1	0.33mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $849,900 Active 94 DOM
2. 2026-06-17
   days on market $849,900 Active 93 DOM
3. 2026-06-16
   days on market $849,900 Active 92 DOM
4. 2026-06-15
   days on market $849,900 Active 91 DOM
5. 2026-06-13
   days on market $849,900 Active 89 DOM
6. 2026-06-12
   days on market $849,900 Active 88 DOM
7. 2026-06-09
   days on market $849,900 Active 85 DOM
8. 2026-06-08
   days on market $849,900 Active 84 DOM
9. 2026-06-07
   days on market $849,900 Active 83 DOM
10. 2026-06-07
    days on market $849,900 Active 82 DOM
11. 2026-06-04
    days on market $849,900 Active 79 DOM
12. 2026-06-02
    days on market $849,900 Active 78 DOM
13. 2026-06-01
    days on market $849,900 Active 77 DOM
14. 2026-05-31
    days on market $849,900 Active 76 DOM
15. 2026-04-25
    price $849,900
16. 2026-04-25
    price $479,900
17. 2026-03-16
    listed $879,900 Active
18. 2026-03-13
    listed $879,900

ⓘ 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: $6,974 · $581/mo
• Projected year-2 tax: $14,068 · $1,172/mo
• Expected delta: +$7,094/yr (+$591/mo · 101.7%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥95°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,800
• − Mortgage interest: −$47,608
• − Property taxes: −$6,974
• − Insurance: −$4,250
• − Repairs & maintenance: −$9,504
• − Management: −$9,504
• − HOA: −$10,872
• − Depreciation: −$24,724
• Taxable income: $5,365
• Est. tax owed @ 24.0%: −$1,287
• After-tax cash flow: $16,985/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

-3.4% since first listed

4 events — show timeline

• 2026-04-25 Price Changed $849,900 CMCMLS
• 2026-04-25 Price Changed $479,900 CMCMLS
• 2026-03-16 Listed $879,900 CMCMLS
• 2026-03-13 Listed $879,900 CMCMLS

Property tax history

+1.9%/yr

Latest (2025): $6,974 · +2.1% YoY. Source: county tax records.