2414 Trenwith Ter · Atlantic City, NJ 08401

$179,900

3 bd · 1.5 ba · 996 sqft · SingleFamily public records · 44 Days on market

Built 1900 Est $123k · 47% over

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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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

THREE BED RM TOWNHOME TOTLLY RENOVATED, ALL HARDWOOD FLOOR, NEW WINDOWS, NEW BATHROOM, NEW KITCHEN , NEW ELECTRIC. WALKING DISTANCE TO BEACH AND CASINO. E-Z TO SHOW MUST SEE !

Key facts

• 3 parking spots
• Listed 43 days

Property features AI

Exterior

• Parking: Exterior parking for three or more cars (see remarks); No garage
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Brick exterior; Located in the Boardwalk Area; Zoned RSC
• Construction: Brick construction; Crawl space basement
• Exterior features: Porch; Patio; Curbs; Sidewalks; Paved road

Interior

• Kitchen: Gas stove; Microwave; Refrigerator; Self-cleaning oven
• Bedrooms: Total rooms include a dining room (8 total rooms)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Hot water heat
• Interior features: Carbon monoxide detector; Smoke/Fire alarm; Storage

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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); 491 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $2,251/mo this rent would consume 66% 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 $1k of loan paydown is wiped out by about $5k 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 44 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $148k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.25% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $122,508
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2403 Aliantro Ter	0.02mi	3/1.0	1,056 (+6%)	20mo	$125,000	$118	70
24 N Bellevue Ave	0.14mi	3/1.0	1,116 (+12%)	3mo	$137,000	$123	69
3014 Howard Ave	0.53mi	3/1.0	1,100 (+10%)	12mo	$190,000	$173	46
1812 Bishop Richard Allen Ave Ave	0.65mi	3/1.0	1,064 (+7%)	20mo	$99,000	$93	40
2018 Magellan Ave	0.74mi	3/1.5	1,120 (+12%)	13mo	$242,000	$216	34

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 · 5.52% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-14,014
• Equity at exit: $26,824

10-year hold

• IRR: 6.0%
• Equity multiple: 1.51×
• Total profit: $25,798
• Equity at exit: $15,554

Cash invested: $50,372 (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: 491
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$943
• Tax from tax record: −$192 /mo · $2,298/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $141

Break-even live

Break-even rent $2,071

Max offer price $179,900

Occupancy floor 89%

Sensitivity live

Price	-10% $243	-5% $192	+0% $141	+5% $91	+10% $40
Rent	-10% $-36	-5% $53	+0% $141	+5% $230	+10% $319
Rate	-1.0pp $232	-0.5pp $187	base $141	+0.5pp $95	+1.0pp $47

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Italy Ter Atlantic City, NJ	3.0	1.0	1000	$2,300	$2.30	22d	1	0.24mi
1724 Atlantic Ave Unit B2 Atlantic City, NJ	2.0	1.0	750	$1,495	$1.99	22d	1	0.54mi
1724 Atlantic Ave Unit A1 Atlantic City, NJ	3.0	1.0	950	$2,300	$2.42	22d	1	0.54mi
1710 Atlantic Ave Apt A Atlantic City, NJ	2.0	1.0	600	$4,500	$7.50	22d	1	0.56mi
38 N Boston Ave Unit B Atlantic City, NJ	2.0	2.0	800	$2,400	$3.00	14d	1	0.65mi
2021 Grant Ave Atlantic City, NJ	3.0	1.0	1011	$2,350	$2.32	22d	1	0.80mi
2015 Grant Ave Atlantic City, NJ	3.0	1.0	1056	$2,325	$2.20	22d	1	0.80mi
3636 Winchester Ave Atlantic City, NJ	3.0	1.0	1094	$1,995	$1.82	22d	1	0.81mi
905 Keener Ave Atlantic City, NJ	3.0	1.0	1059	$1,900	$1.79	22d	1	0.82mi
108 Lincoln Pl Apt A4 Atlantic City, NJ	2.0	1.0	800	$5,000	$6.25	22d	1	0.91mi
3851 Boardwalk Atlantic City, NJ	2.0	1.0–2.0	785	$27,500	$35.03	22d	5	0.92mi
21 S Windsor Ave Unit b1 Atlantic City, NJ	2.0	1.0	640	$1,650	$2.58	14d	1	1.08mi
31 N Virginia Ave Atlantic City, NJ	3.0	1.0	725	$2,230	$3.08	14d	1	1.14mi
101 S Raleigh Ave Atlantic City, NJ	2.0	1.0	735	$18,750	$25.51	14d	7	1.17mi
1510 N Arkansas Ave Atlantic City, NJ	3.0	2.0	1008	$2,750	$2.73	14d	1	1.19mi
1523 N Arkansas Ave Atlantic City, NJ	3.0	2.0	984	$2,500	$2.54	22d	1	1.23mi
848 Pacific Ave Unit 1014254P Atlantic City, NJ	1.0–2.0	2.0–3.0	1243	$2,413	$1.94	14d	2	1.26mi
1914 N Missouri Ave Atlantic City, NJ	2.0	1.0	750	$1,795	$2.39	22d	1	1.38mi

Listing history 24 events

1. 2026-06-21
   days on market $179,900 Active 44 DOM
2. 2026-06-19
   days on market $179,900 Active 42 DOM
3. 2026-06-18
   days on market $179,900 Active 41 DOM
4. 2026-06-17
   days on market $179,900 Active 40 DOM
5. 2026-06-16
   days on market $179,900 Active 39 DOM
6. 2026-06-15
   days on market $179,900 Active 38 DOM
7. 2026-06-14
   days on market $179,900 Active 36 DOM
8. 2026-06-13
   pricedays on market $179,900 Active 35 DOM
9. 2026-06-10
   days on market $189,900 Active 33 DOM
10. 2026-06-09
    days on market $189,900 Active 32 DOM
11. 2026-06-08
    days on market $189,900 Active 31 DOM
12. 2026-06-07
    days on market $189,900 Active 30 DOM
13. 2026-06-02
    days on market $189,900 Active 25 DOM
14. 2026-06-01
    days on market $189,900 Active 24 DOM
15. 2026-05-31
    days on market $189,900 Active 23 DOM
16. 2026-05-30
    days on market $189,900 Active 22 DOM
17. 2026-05-08
    listed $189,900 Active 1286-char remark
18. 2005-02-01
    soldstatus $148,000
19. 2005-01-27
    soldstatus $148,000 175-char remark

    Show marketing remark (175 chars)

    THREE BED RM TOWNHOME TOTLLY RENOVATED, ALL HARDWOOD FLOOR, NEW WINDOWS, NEW BATHROOM, NEW KITCHEN , NEW ELECTRIC. WALKING DISTANCE TO BEACH AND CASINO. E-Z TO SHOW MUST SEE !

20. 2004-12-18
    historical 175-char remark

    Show marketing remark (175 chars)

    THREE BED RM TOWNHOME TOTLLY RENOVATED, ALL HARDWOOD FLOOR, NEW WINDOWS, NEW BATHROOM, NEW KITCHEN , NEW ELECTRIC. WALKING DISTANCE TO BEACH AND CASINO. E-Z TO SHOW MUST SEE !

21. 2004-11-21
    listed $159,500 175-char remark

    Show marketing remark (175 chars)

    THREE BED RM TOWNHOME TOTLLY RENOVATED, ALL HARDWOOD FLOOR, NEW WINDOWS, NEW BATHROOM, NEW KITCHEN , NEW ELECTRIC. WALKING DISTANCE TO BEACH AND CASINO. E-Z TO SHOW MUST SEE !

22. 2003-11-07
    soldstatus $43,000

    Show marketing remark (101 chars)

    Location is prime! Perfect property for end user or invester. As Is. Buyer responsible for all certs.

23. 2003-10-14
    historical

    Show marketing remark (101 chars)

    Location is prime! Perfect property for end user or invester. As Is. Buyer responsible for all certs.

24. 2003-05-30
    listed $75,000

    Show marketing remark (101 chars)

    Location is prime! Perfect property for end user or invester. As Is. Buyer responsible for all certs.

ⓘ 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: $2,298 · $192/mo
• Projected year-2 tax: $3,389 · $282/mo
• Expected delta: +$1,091/yr (+$91/mo · 47.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 57% 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: $27,007
• − Mortgage interest: −$10,077
• − Property taxes: −$2,298
• − Insurance: −$6,018
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$5,233
• Taxable loss: −$941
• Est. tax savings @ 24.0%: +$226
• After-tax cash flow: $1,924/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

+139.9% since first listed

9 events — show timeline

• 2026-06-11 Price Changed $179,900 SJSRMLS
• 2026-05-08 Listed $189,900 SJSRMLS
• 2005-02-01 Sold (Public Records) $148,000 Public Records
• 2005-01-27 Sold (MLS) $148,000 SJSRMLS
• 2004-12-18 Listing Removed — SJSRMLS
• 2004-11-21 Listed $159,500 SJSRMLS
• 2003-11-07 Sold (MLS) $43,000 SJSRMLS
• 2003-10-14 Listing Removed — SJSRMLS
• 2003-05-30 Listed $75,000 SJSRMLS

Property tax history

-0.2%/yr

Latest (2025): $2,298 · -2.1% YoY. Source: county tax records.