921 Wesley Ave Unit A24 · Ocean City, NJ 08226

$289,999

1 bd · 1.0 ba · 700 sqft · Condo · 105 Days on market

Built 1986 $414/sqft · 21% below area Est $369k · 21% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year-round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

Key facts

• On site laundry room
• Elevator
• Classic tub

Tags

• SOUTH FACING LIVING AREA
• GALLEY STYLE KITCHEN
• CLASSIC TUB
• DESIGNATED PARKING SPOT
• ON SITE LAUNDRY ROOM
• ELEVATOR

🏷️ Possibly a rental listed for sale. The $289,999 price doesn't fit this home's estimated sale value (~$368,978) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $290k).
• Recommended offer: $264k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.7% 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; 2 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 $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $28k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $290k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $263,899 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. 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?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.29% ✓
• Cap rate: 19.69%
• Cash-on-cash: 47.83%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

• ARV (median comp): $368,978
• List price: $289,999
• Delta: -21.40%
• 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: 45.3%
• Equity multiple: 2.96×
• Total profit: $159,250
• Equity at exit: $43,240

10-year hold

• IRR: 51.2%
• Equity multiple: 5.98×
• Total profit: $404,519
• Equity at exit: $25,074

Cash invested: $81,200 (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: 3.6×

Monthly cashflow live

• Estimated rent: $6,634 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,393
• Net cashflow: $3,237

Break-even live

Break-even rent $2,537

Max offer price $289,999

Occupancy floor 46%

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
714 West Ave Unit 1308989P Ocean City, NJ	2.0	1.0	742	$6,384	$8.60	43d	1	0.31mi
200 Bay Ave Unit 200 Ocean City, NJ	1.0	1.0	425	$7,800	$18.35	20d	1	0.93mi

HOA detail condo

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

Listing history 33 events

1. 2026-06-18
   days on market $289,999 Active 105 DOM
2. 2026-06-17
   days on market $289,999 Active 104 DOM
3. 2026-06-16
   days on market $289,999 Active 103 DOM
4. 2026-06-15
   days on market $289,999 Active 102 DOM
5. 2026-06-13
   days on market $289,999 Active 100 DOM
6. 2026-06-12
   days on market $289,999 Active 99 DOM
7. 2026-06-09
   days on market $289,999 Active 96 DOM
8. 2026-06-08
   days on market $289,999 Active 95 DOM
9. 2026-06-07
   days on market $289,999 Active 94 DOM
10. 2026-06-07
    days on market $289,999 Active 93 DOM
11. 2026-06-04
    days on market $289,999 Active 90 DOM
12. 2026-06-02
    days on market $289,999 Active 89 DOM
13. 2026-06-01
    days on market $289,999 Active 88 DOM
14. 2026-05-31
    days on market $289,999 Active 87 DOM
15. 2026-04-17
    price $289,999 1740-char remark

    Show marketing remark (1744 chars)

    Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

16. 2026-04-17
    price $289,999 1744-char remark

    Show marketing remark (1744 chars)

    Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

17. 2026-03-28
    price $299,999 1740-char remark

    Show marketing remark (1744 chars)

    Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

18. 2026-03-28
    price $299,999 1744-char remark

    Show marketing remark (1744 chars)

    Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

19. 2026-03-05
    listed $317,500 Active 1740-char remark

    Show marketing remark (1744 chars)

    Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

20. 2026-03-05
    listed $317,500 Active 1744-char remark

    Show marketing remark (1744 chars)

    Year round living, pet friendly and rent as you wish! It doesn't get any better as a home away from home or investment opportunity in Ocean City! Unlike many "condotels, " 921 Wesley allows owners to occupy their unit all year or rent with no rental minimums or management fees! This sun-filled 1-bedroom, 1-bath condo offers the ultimate beach-town lifestyle just two blocks from both the the beach and boardwalk and the heart of downtown Asbury shopping and dining. Whether you're looking for a serene escape or a fun-filled weekend hub, this space is designed for easy enjoyment. Owners are free to live here year round or rent and use as an investment as they see fit. Step inside to a bright, south-facing living area with a sleeper sofa and convenient dining area. The galley-style kitchen has all the amenities for efficient cooking and opens easily into the main living space. The full bath features a classic tub for unwinding, and the low-maintenance laminate flooring makes cleanup a breeze after sandy adventures. One of the standout features? It’s one of the few Condo buildings in town where pets are welcome—for owners only—which makes this spot feel even more like home. With room to comfortably sleep four, this condo makes the most of its space. You’ll also enjoy one designated parking spot, with additional guest parking available on a first-come, first-served basis—an added bonus in a high-demand area. The building offers shared conveniences like an on-site laundry room, elevator and bike storage, so you can focus more on beach days and boardwalk strolls, and less on chores. The low HOA fee and maintenance-free lifestyle make this the perfect mix of investment and enjoyment.

21. 2025-12-02
    historical Withdrawn/Temp Off Market
22. 2025-12-02
    historical
23. 2025-10-21
    listed $317,500 Active
24. 2025-10-21
    listed $317,500 Active
25. 2025-10-20
    historical
26. 2025-08-21
    price $320,000
27. 2025-07-25
    listed $329,000 Active
28. 2011-02-18
    soldstatus $140,000
29. 2011-01-09
    historical
30. 2010-08-24
    listed $144,900
31. 2002-03-15
    soldstatus $95,000
32. 2002-02-25
    historical
33. 2002-02-14
    listed $104,900

ⓘ 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 6/10 Major FEMA zone X (shaded) · 55% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥98°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: $79,606
• − Mortgage interest: −$16,244
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$6,368
• − Management: −$6,368
• − Depreciation: −$8,436
• Taxable income: $36,388
• Est. tax owed @ 24.0%: −$8,733
• After-tax cash flow: $30,106/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: 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

+176.5% since first listed

19 events — show timeline

• 2026-04-17 Price Changed $289,999 CMCMLS
• 2026-04-17 Price Changed $289,999 SJSRMLS
• 2026-03-28 Price Changed $299,999 CMCMLS
• 2026-03-28 Price Changed $299,999 SJSRMLS
• 2026-03-05 Listed $317,500 SJSRMLS
• 2026-03-05 Listed $317,500 CMCMLS
• 2025-12-02 Delisted — CMCMLS
• 2025-12-02 Listing Removed — SJSRMLS
• 2025-10-21 Listed $317,500 CMCMLS
• 2025-10-21 Listed $317,500 SJSRMLS
• 2025-10-20 Listing Removed — SJSRMLS
• 2025-08-21 Price Changed $320,000 SJSRMLS
• 2025-07-25 Listed $329,000 SJSRMLS
• 2011-02-18 Sold (MLS) $140,000 SJSRMLS
• 2011-01-09 Listing Removed — SJSRMLS
• 2010-08-24 Listed $144,900 SJSRMLS
• 2002-03-15 Sold (MLS) $95,000 SJSRMLS
• 2002-02-25 Listing Removed — SJSRMLS
• 2002-02-14 Listed $104,900 SJSRMLS