1100 West Ave · Ocean City, NJ 08226

$815,000

3 bd · 3.0 ba · 1,500 sqft · MultiFamily · 56 Days on market

Built 2023 Excellent condition $543/sqft · 39% below area Est $1338k · 39% under ↓ 14% 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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Centrally located Multi-Family Building with 3 Units. Great Rental Income/investment and/or Great development opportunity! Front side-by-side duplex has full size cement porches on both units. Details on 1100 West first floor: Living Room, Dining Room, Kitchen, Washer & Dryer Hook Up, and Full Bath. 2nd Floor: 3 Spacious Bedrooms + Stairs to full Attic. Details on 1102 West First Floor: Living Room, Dining Room, Kitchen, and Full Bath. 2nd Floor: 3 Spacious Bedrooms. Third Unit is a Back Cottage. Details: Front cement gated porch, Living Room, Dining Room, Kitchen, and Powder Room. 2nd Floor: 3 Spacious Bedrooms + Full Bath. Storage garage in large back yard, outside shower, trash closet, and off-street parking with two car driveway. Being sold in "as is" condition! Great Location! (close to beach, boardwalk, shopping and restaurants) Great Renovation project! (Three - 3 bedroom units) Great Rental potential! See you on the Beach!

Key facts

• Fully renovated
• Turnkey property
• Newer roof

Tags

• TURNKEY PROPERTY
• FULLY RENOVATED
• NEWER ROOF
• NEWER SIDING
• NEWER WINDOWS
• NEWER HVAC

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Single-family home (for sale)
• Exterior features: Patio

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Vinyl flooring; Recreation/Family room; Drapes, curtains, shades, blinds and other window treatments; Furniture included; Smoke/Fire detector
• Laundry & utility: Washer; Dryer; Gas hot water

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $815k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $802 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $814k (0.1% below list).
• Recommended offer: $791k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.3% in Ocean 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 80/100 on livability (#72 in NJ, #1,762 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, health & safety A+; Watch: housing D+, cost of living F.
• Ocean City School District (urban): math 31% / reading 53% proficiency, ranked #212 of 472 in NJ (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 419 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $24k 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 56 days — a 3% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Recommended offer $790,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $1,337,518
• List price: $815,000
• Delta: -39.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-80,849
• Equity at exit: $121,519

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-4,113
• Equity at exit: $70,466

Cash invested: $228,200 (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 08226

• Active inventory: 419
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $8,145 medium
• Mortgage (P&I): −$4,274
• Tax est. 1.5%: −$1,019 /mo · $12,225/yr
• Insurance: −$340
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,710
• Net cashflow: $802

Break-even live

Break-even rent $7,129

Max offer price $815,000

Occupancy floor 85%

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: $203,750
• Closing costs: $24,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1142 Simpson Ave Unit 1308992P Ocean City, NJ	3.0	2.0	1097	$7,788	$7.10	43d	1	0.16mi
935 Ocean Ave Ocean City, NJ	1.0–3.0	1.0–2.5	1112	$8,500	$7.64	43d	1	0.34mi
111 West Ave Unit 1309024P Ocean City, NJ	4.0	3.0	1991	$9,524	$4.78	43d	1	1.06mi
710 Battersea Rd Unit 1309016P Ocean City, NJ	3.0	2.0	1291	$8,042	$6.23	43d	1	1.28mi

Listing history 23 events

1. 2026-06-18
   days on market $815,000 Active 56 DOM
2. 2026-06-17
   days on market $815,000 Active 55 DOM
3. 2026-06-16
   days on market $815,000 Active 54 DOM
4. 2026-06-15
   days on market $815,000 Active 53 DOM
5. 2026-06-13
   days on market $815,000 Active 51 DOM
6. 2026-06-12
   days on market $815,000 Active 50 DOM
7. 2026-06-09
   days on market $815,000 Active 47 DOM
8. 2026-06-08
   days on market $815,000 Active 46 DOM
9. 2026-06-07
   days on market $815,000 Active 45 DOM
10. 2026-06-07
    days on market $815,000 Active 44 DOM
11. 2026-06-04
    days on market $815,000 Active 41 DOM
12. 2026-06-02
    days on market $815,000 Active 40 DOM
13. 2026-06-01
    days on market $815,000 Active 39 DOM
14. 2026-05-31
    days on market $815,000 Active 38 DOM
15. 2026-05-14
    price $815,000 789-char remark
16. 2026-04-23
    listed $825,000 Active 789-char remark
17. 2024-06-05
    historical $20,000
18. 2024-06-05
    listed $20,000
19. 2024-05-18
    historical $20,000
20. 2024-05-06
    listed $20,000
21. 2023-05-17
    soldstatus $925,000 Sold 961-char remark

    Show marketing remark (961 chars)

    Centrally located Multi-Family Building with 3 Units. Great Rental Income/investment and/or Great development opportunity! Front side-by-side duplex has full size cement porches on both units. Details on 1100 West first floor: Living Room, Dining Room, Kitchen, Washer & Dryer Hook Up, and Full Bath. 2nd Floor: 3 Spacious Bedrooms + Stairs to full Attic. Details on 1102 West First Floor: Living Room, Dining Room, Kitchen, and Full Bath. 2nd Floor: 3 Spacious Bedrooms. Third Unit is a Back Cottage. Details: Front cement gated porch, Living Room, Dining Room, Kitchen, and Powder Room. 2nd Floor: 3 Spacious Bedrooms + Full Bath. Storage garage in large back yard, outside shower, trash closet, and off-street parking with two car driveway. Being sold in "as is" condition! Great Location! (close to beach, boardwalk, shopping and restaurants) Great Renovation project! (Three - 3 bedroom units) Great Rental potential! See you on the Beach!

22. 2023-05-04
    historical Under Contract 961-char remark

    Show marketing remark (961 chars)

    Centrally located Multi-Family Building with 3 Units. Great Rental Income/investment and/or Great development opportunity! Front side-by-side duplex has full size cement porches on both units. Details on 1100 West first floor: Living Room, Dining Room, Kitchen, Washer & Dryer Hook Up, and Full Bath. 2nd Floor: 3 Spacious Bedrooms + Stairs to full Attic. Details on 1102 West First Floor: Living Room, Dining Room, Kitchen, and Full Bath. 2nd Floor: 3 Spacious Bedrooms. Third Unit is a Back Cottage. Details: Front cement gated porch, Living Room, Dining Room, Kitchen, and Powder Room. 2nd Floor: 3 Spacious Bedrooms + Full Bath. Storage garage in large back yard, outside shower, trash closet, and off-street parking with two car driveway. Being sold in "as is" condition! Great Location! (close to beach, boardwalk, shopping and restaurants) Great Renovation project! (Three - 3 bedroom units) Great Rental potential! See you on the Beach!

23. 2023-04-13
    listed $945,000 Active 961-char remark

    Show marketing remark (961 chars)

    Centrally located Multi-Family Building with 3 Units. Great Rental Income/investment and/or Great development opportunity! Front side-by-side duplex has full size cement porches on both units. Details on 1100 West first floor: Living Room, Dining Room, Kitchen, Washer & Dryer Hook Up, and Full Bath. 2nd Floor: 3 Spacious Bedrooms + Stairs to full Attic. Details on 1102 West First Floor: Living Room, Dining Room, Kitchen, and Full Bath. 2nd Floor: 3 Spacious Bedrooms. Third Unit is a Back Cottage. Details: Front cement gated porch, Living Room, Dining Room, Kitchen, and Powder Room. 2nd Floor: 3 Spacious Bedrooms + Full Bath. Storage garage in large back yard, outside shower, trash closet, and off-street parking with two car driveway. Being sold in "as is" condition! Great Location! (close to beach, boardwalk, shopping and restaurants) Great Renovation project! (Three - 3 bedroom units) Great Rental potential! See you on the Beach!

ⓘ 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: $97,739
• − Mortgage interest: −$45,653
• − Property taxes: −$12,225
• − Insurance: −$4,075
• − Repairs & maintenance: −$7,819
• − Management: −$7,819
• − Depreciation: −$23,709
• Taxable loss: −$3,561
• Est. tax savings @ 24.0%: +$855
• After-tax cash flow: $10,481/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This fully renovated multi-family home in Ocean City, NJ, offers a turnkey investment opportunity with a modern design and top-notch amenities.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and property value
• Both Add smart home features — Improves convenience and marketability
• Both Install smart thermostat — Saves energy and attracts eco-conscious buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both Add smart home features — Improves convenience and marketability ↑
• Both Install smart thermostat — Saves energy and attracts eco-conscious buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ocean City School District
• NCES district ID: 3411970
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $60,444
• Composite: 37.07/100
• National rank: #4506
• State rank: #212 of 472 in NJ

Livability — Ocean City

• Score: 80/100
• State rank: #72
• US rank: #1762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, NJ
• City population: 11,260
• Population (ZIP): 11,260

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Black 2% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -381.90%
• Current HPI: 389.3687
• 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

-13.8% since first listed

9 events — show timeline

• 2026-05-14 Price Changed $815,000 CMCMLS
• 2026-04-23 Listed $825,000 CMCMLS
• 2024-06-05 Rental Removed $20,000 SJSRMLS
• 2024-06-05 Listed for Rent $20,000 SJSRMLS
• 2024-05-18 Rental Removed $20,000 SJSRMLS
• 2024-05-06 Listed for Rent $20,000 SJSRMLS
• 2023-05-17 Sold (MLS) $925,000 SJSRMLS
• 2023-05-04 Contingent — SJSRMLS
• 2023-04-13 Listed $945,000 SJSRMLS