9609 Pacific Ave #5 · Margate City, NJ 08402

$749,500

3 bd · 2.0 ba · 853 sqft · Condo public records · 122 Days on market

Built 1984 $879/sqft · 44% above area Est $519k · 44% over $355/mo HOA · 3% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just one block from the beach, 9609-13 Pacific Ave Unit 5 offers the perfect blend of comfort and convenience in an ideal Margate location. This inviting 3-bedroom, 2-bath condo features a thoughtful layout designed for easy beachside living. The home is finished with tile flooring in the kitchen and luxury vinyl throughout the rest of the property, creating a sleek and durable foundation. The bright, open living area flows seamlessly into the modern kitchen, complete with bar seating for four, a separate beverage cooler, contemporary lighting, and an in-unit washer and dryer. The updated bathrooms continue the clean, modern aesthetic with fresh tile work and upgraded shower fixtures. One of the bedrooms opens directly onto a private deck—perfect for morning coffee, evening cocktails, or entertaining—while the remaining bedrooms offer generous closet space and a warm, inviting design. Ideally situated near Margate’s best restaurants and attractions, you’ll be just moments from Lucy the Elephant, The Greenhouse, Tomatoes, and many more popular spots. Beautifully maintained and steps from the sand, this condo provides everything you need for effortless beach living.

Key facts

• Luxury vinyl
• Beverage cooler
• Tile flooring

Tags

• TILE FLOORING
• LUXURY VINYL
• MODERN KITCHEN
• BAR SEATING
• BEVERAGE COOLER
• IN-UNIT WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $750k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $750k).
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 7.4% in Margate 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 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Margate City School District (suburban): math 50% / reading 58% proficiency, ranked #113 of 472 in NJ (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $11,169/mo this rent would consume 110% of the median local household income ($122k/yr) (locally 23% 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 $5k of loan paydown is wiped out by about $22k 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 + 8.0% rent growth), your $210k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y 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.
• Current owner paid $338k; list at $750k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $659,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.49% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• GRM: 5.6

CMA / ARV

• ARV (median comp): $518,778
• List price: $749,500
• Delta: 44.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 1.72×
• Total profit: $151,968
• Equity at exit: $111,753

10-year hold

• IRR: 28.9%
• Equity multiple: 4.23×
• Total profit: $677,995
• Equity at exit: $64,803

Cash invested: $209,860 (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 08402

• Rents YoY: 8.9%
• Active inventory: 147
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $11,169 medium
• Mortgage (P&I): −$3,930
• Tax from tax record: −$438 /mo · $5,259/yr
• Insurance: −$312
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$355
• Vacancy / Maint / Mgmt: −$2,345
• Net cashflow: $3,361

Break-even live

Break-even rent $6,915

Max offer price $749,500

Occupancy floor 65%

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: $187,375
• Closing costs: $22,485
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9400 Atlantic Ave Margate City, NJ	2.0	1.0–1.5	917	$28,000	$30.52	13d	6	0.14mi
9400 Atlantic Ave Margate City, NJ	1.0–2.0	1.0–1.5	1020	$26,000	$25.49	20d	4	0.14mi
16 N Monroe Ave Unit B4 SUMMER Margate City, NJ	2.0	2.0	919	$28,000	$30.47	43d	1	0.15mi
16 N Monroe Ave Unit B4 AUG Margate City, NJ	2.0	2.0	919	$11,000	$11.97	43d	1	0.15mi
16 N Monroe Ave Unit B4 JUNE Margate City, NJ	2.0	2.0	919	$6,000	$6.53	43d	1	0.15mi
126 N Washington Ave Unit A Margate City, NJ	2.0	2.0	1100	$3,575	$3.25	43d	1	0.31mi
9101 Atlantic Ave #106 Margate City, NJ	2.0	2.0	1108	$10,000	$9.03	43d	1	0.31mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-15
   days on market $749,500 Active 122 DOM
2. 2026-06-14
   days on market $749,500 Active 120 DOM
3. 2026-06-13
   days on market $749,500 Active 119 DOM
4. 2026-06-10
   days on market $749,500 Active 117 DOM
5. 2026-06-09
   days on market $749,500 Active 116 DOM
6. 2026-06-08
   days on market $749,500 Active 115 DOM
7. 2026-06-07
   days on market $749,500 Active 114 DOM
8. 2026-06-05
   days on market $749,500 Active 111 DOM
9. 2026-06-02
   days on market $749,500 Active 109 DOM
10. 2026-06-01
    days on market $749,500 Active 108 DOM
11. 2026-05-31
    days on market $749,500 Active 107 DOM
12. 2026-05-30
    days on market $749,500 Active 106 DOM
13. 2026-02-13
    historical 1206-char remark

    Show marketing remark (1206 chars)

    Just one block from the beach, 9609-13 Pacific Ave Unit 5 offers the perfect blend of comfort and convenience in an ideal Margate location. This inviting 3-bedroom, 2-bath condo features a thoughtful layout designed for easy beachside living. The home is finished with tile flooring in the kitchen and luxury vinyl throughout the rest of the property, creating a sleek and durable foundation. The bright, open living area flows seamlessly into the modern kitchen, complete with bar seating for four, a separate beverage cooler, contemporary lighting, and an in-unit washer and dryer. The updated bathrooms continue the clean, modern aesthetic with fresh tile work and upgraded shower fixtures. One of the bedrooms opens directly onto a private deck—perfect for morning coffee, evening cocktails, or entertaining—while the remaining bedrooms offer generous closet space and a warm, inviting design. Ideally situated near Margate’s best restaurants and attractions, you’ll be just moments from Lucy the Elephant, The Greenhouse, Tomatoes, and many more popular spots. Beautifully maintained and steps from the sand, this condo provides everything you need for effortless beach living.

14. 2026-02-13
    listed $749,500 Active 1206-char remark

    Show marketing remark (1206 chars)

    Just one block from the beach, 9609-13 Pacific Ave Unit 5 offers the perfect blend of comfort and convenience in an ideal Margate location. This inviting 3-bedroom, 2-bath condo features a thoughtful layout designed for easy beachside living. The home is finished with tile flooring in the kitchen and luxury vinyl throughout the rest of the property, creating a sleek and durable foundation. The bright, open living area flows seamlessly into the modern kitchen, complete with bar seating for four, a separate beverage cooler, contemporary lighting, and an in-unit washer and dryer. The updated bathrooms continue the clean, modern aesthetic with fresh tile work and upgraded shower fixtures. One of the bedrooms opens directly onto a private deck—perfect for morning coffee, evening cocktails, or entertaining—while the remaining bedrooms offer generous closet space and a warm, inviting design. Ideally situated near Margate’s best restaurants and attractions, you’ll be just moments from Lucy the Elephant, The Greenhouse, Tomatoes, and many more popular spots. Beautifully maintained and steps from the sand, this condo provides everything you need for effortless beach living.

15. 2025-11-20
    listed $779,000 Active 1206-char remark

    Show marketing remark (1206 chars)

    Just one block from the beach, 9609-13 Pacific Ave Unit 5 offers the perfect blend of comfort and convenience in an ideal Margate location. This inviting 3-bedroom, 2-bath condo features a thoughtful layout designed for easy beachside living. The home is finished with tile flooring in the kitchen and luxury vinyl throughout the rest of the property, creating a sleek and durable foundation. The bright, open living area flows seamlessly into the modern kitchen, complete with bar seating for four, a separate beverage cooler, contemporary lighting, and an in-unit washer and dryer. The updated bathrooms continue the clean, modern aesthetic with fresh tile work and upgraded shower fixtures. One of the bedrooms opens directly onto a private deck—perfect for morning coffee, evening cocktails, or entertaining—while the remaining bedrooms offer generous closet space and a warm, inviting design. Ideally situated near Margate’s best restaurants and attractions, you’ll be just moments from Lucy the Elephant, The Greenhouse, Tomatoes, and many more popular spots. Beautifully maintained and steps from the sand, this condo provides everything you need for effortless beach living.

16. 2025-02-27
    historical
17. 2025-01-30
    listed $799,900 Active
18. 2019-03-01
    soldstatus $338,000
19. 2019-02-15
    soldstatus $338,000 Sold
20. 2019-01-24
    historical Under Contract
21. 2018-09-18
    listed $359,000 Active
22. 2014-07-25
    soldstatus $280,000
23. 2014-07-18
    soldstatus $280,000
24. 2014-07-01
    historical
25. 2014-02-02
    listed $300,000
26. 2014-02-02
    historical
27. 2013-07-02
    listed $314,900
28. 2013-07-02
    historical
29. 2012-07-03
    listed $314,900
30. 2011-05-07
    historical
31. 2010-11-09
    listed $375,000
32. 2010-10-27
    historical
33. 2010-03-19
    listed $375,000
34. 2003-05-06
    soldstatus $230,000

ⓘ 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: $5,259 · $438/mo
• Projected year-2 tax: $11,961 · $997/mo
• Expected delta: +$6,702/yr (+$558/mo · 127.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $134,026
• − Mortgage interest: −$41,984
• − Property taxes: −$5,259
• − Insurance: −$8,866
• − Repairs & maintenance: −$10,722
• − Management: −$10,722
• − HOA: −$4,260
• − Depreciation: −$21,804
• Taxable income: $30,409
• Est. tax owed @ 24.0%: −$7,298
• After-tax cash flow: $33,032/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: Margate City School District
• NCES district ID: 3409690
• Math proficiency: 50% ▼ -26.00%
• Reading proficiency: 58% ▼ -28.00%
• Median HH income: $67,112
• Composite: 47.71/100
• National rank: #2241
• State rank: #113 of 472 in NJ

Livability — Margate City

• Score: 75/100
• State rank: #149
• US rank: #3893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margate City, NJ
• County: Atlantic County · 143,611 people
• City population: 5,234
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 5,234
• Household income: $121,800
• Rent vs Own: 10.0% rent · 90.0% own
• Severe rent burden: 23.0

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: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scotch-Irish 9% Romanian 6% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 2% Tagalog/Filipino 2% Spanish 1%

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: ▼ -625.70%
• Current HPI: 475.1366
• Rent YoY: ▲ 8.91%
• 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

+225.9% since first listed

22 events — show timeline

• 2026-02-13 Listed $749,500 SJSRMLS
• 2026-02-13 Listing Removed — SJSRMLS
• 2025-11-20 Listed $779,000 SJSRMLS
• 2025-02-27 Listing Removed — BRIGHT MLS
• 2025-01-30 Listed $799,900 BRIGHT MLS
• 2019-03-01 Sold (Public Records) $338,000 Public Records
• 2019-02-15 Sold (MLS) $338,000 SJSRMLS
• 2019-01-24 Contingent — SJSRMLS
• 2018-09-18 Listed $359,000 SJSRMLS
• 2014-07-25 Sold (Public Records) $280,000 Public Records
• 2014-07-18 Sold (MLS) $280,000 SJSRMLS
• 2014-07-01 Listing Removed — SJSRMLS
• 2014-02-02 Listing Removed — SJSRMLS
• 2014-02-02 Listed $300,000 SJSRMLS
• 2013-07-02 Listing Removed — SJSRMLS
• 2013-07-02 Listed $314,900 SJSRMLS
• 2012-07-03 Listed $314,900 SJSRMLS
• 2011-05-07 Listing Removed — SJSRMLS
• 2010-11-09 Listed $375,000 SJSRMLS
• 2010-10-27 Listing Removed — SJSRMLS
• 2010-03-19 Listed $375,000 SJSRMLS
• 2003-05-06 Sold (Public Records) $230,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $5,259 · +4.6% YoY. Source: county tax records.