1426 Mediterranean Unit A · Atlantic City, NJ 08401

$89,900

2 bd · 1.0 ba · 728 sqft · Condo public records · 155 Days on market

Built 1985 $250/mo HOA · 14% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy effortless living in this 2-bedroom Atlantic City condo. 10 minutes from the Jersey shore and famous Atlantic City Boardwalk. Great investment property. Easy commute to Philadelphia. Perfect for those seeking a low-maintenance lifestyle, this property offers convenience and comfort

Key facts

• $250 HOA
• Built 1985
• Listed 154 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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); 482 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1,834/mo this rent would consume 54% 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 $622 of loan paydown is wiped out by about $3k 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 + 5.5% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $90k implies a 118% gain — meaningful room to come down on a strong offer.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
7. 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?
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: 2.04% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.79%
• DSCR: 2.28
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.52% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.15×
• Total profit: $28,828
• Equity at exit: $13,404

10-year hold

• IRR: 35.9%
• Equity multiple: 4.81×
• Total profit: $95,899
• Equity at exit: $7,773

Cash invested: $25,172 (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: 482
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,834 high
• Mortgage (P&I): −$471
• Tax from tax record: −$86 /mo · $1,031/yr
• Insurance: −$37
• HOA: −$250
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $604

Break-even live

Break-even rent $1,069

Max offer price $89,900

Occupancy floor 62%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Atlantic Ave Apt A Atlantic City, NJ	2.0	1.0	600	$4,500	$7.50	21d	1	0.41mi
31 N Virginia Ave Atlantic City, NJ	3.0	1.0	725	$1,998	$2.76	13d	1	0.41mi
1724 Atlantic Ave Unit B2 Atlantic City, NJ	2.0	1.0	750	$1,495	$1.99	21d	1	0.42mi
143 S South Carolina Ave Apt A4 Atlantic City, NJ	1.0	1.0	450	$1,500	$3.33	21d	1	0.54mi
325 Atlantic Ave Unit 3 Atlantic City, NJ	2.0	1.0	660	$1,675	$2.54	21d	1	0.84mi
101 Boardwalk Atlantic City, NJ	2.0	1.0	645	$2,700	$4.18	13d	3	1.11mi
2834 Atlantic Ave Atlantic City, NJ	1.0	1.0	639	$1,675	$2.62	21d	3	1.15mi
1914 N Missouri Ave Atlantic City, NJ	2.0	1.0	750	$1,795	$2.39	21d	1	1.36mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-19
   days on market $89,900 Active 155 DOM
2. 2026-06-18
   days on market $89,900 Active 154 DOM
3. 2026-06-17
   days on market $89,900 Active 153 DOM
4. 2026-06-16
   days on market $89,900 Active 152 DOM
5. 2026-06-15
   days on market $89,900 Active 151 DOM
6. 2026-06-14
   days on market $89,900 Active 149 DOM
7. 2026-06-13
   days on market $89,900 Active 148 DOM
8. 2026-06-10
   days on market $89,900 Active 146 DOM
9. 2026-06-09
   days on market $89,900 Active 145 DOM
10. 2026-06-08
    days on market $89,900 Active 144 DOM
11. 2026-06-07
    days on market $89,900 Active 143 DOM
12. 2026-06-02
    days on market $89,900 Active 138 DOM
13. 2026-06-01
    days on market $89,900 Active 137 DOM
14. 2026-05-31
    days on market $89,900 Active 136 DOM
15. 2026-05-30
    days on market $89,900 Active 135 DOM
16. 2026-05-13
    status Active 288-char remark

    Show marketing remark (288 chars)

    Enjoy effortless living in this 2-bedroom Atlantic City condo. 10 minutes from the Jersey shore and famous Atlantic City Boardwalk. Great investment property. Easy commute to Philadelphia. Perfect for those seeking a low-maintenance lifestyle, this property offers convenience and comfort

17. 2026-03-17
    historical Active Under Contract 288-char remark

    Show marketing remark (288 chars)

    Enjoy effortless living in this 2-bedroom Atlantic City condo. 10 minutes from the Jersey shore and famous Atlantic City Boardwalk. Great investment property. Easy commute to Philadelphia. Perfect for those seeking a low-maintenance lifestyle, this property offers convenience and comfort

18. 2026-03-04
    price $94,900 288-char remark

    Show marketing remark (288 chars)

    Enjoy effortless living in this 2-bedroom Atlantic City condo. 10 minutes from the Jersey shore and famous Atlantic City Boardwalk. Great investment property. Easy commute to Philadelphia. Perfect for those seeking a low-maintenance lifestyle, this property offers convenience and comfort

19. 2025-12-18
    price $99,750 288-char remark

    Show marketing remark (288 chars)

    Enjoy effortless living in this 2-bedroom Atlantic City condo. 10 minutes from the Jersey shore and famous Atlantic City Boardwalk. Great investment property. Easy commute to Philadelphia. Perfect for those seeking a low-maintenance lifestyle, this property offers convenience and comfort

20. 2025-11-18
    listed $119,500 Active 288-char remark

    Show marketing remark (288 chars)

    Enjoy effortless living in this 2-bedroom Atlantic City condo. 10 minutes from the Jersey shore and famous Atlantic City Boardwalk. Great investment property. Easy commute to Philadelphia. Perfect for those seeking a low-maintenance lifestyle, this property offers convenience and comfort

21. 1990-01-31
    soldstatus $41,200

ⓘ 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: $1,031 · $86/mo
• Projected year-2 tax: $1,635 · $136/mo
• Expected delta: +$604/yr (+$50/mo · 58.6%)

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

Taxation est. · year 1

• Rental income: $22,006
• − Mortgage interest: −$5,036
• − Property taxes: −$1,031
• − Insurance: −$450
• − Repairs & maintenance: −$1,760
• − Management: −$1,760
• − HOA: −$3,000
• − Depreciation: −$2,615
• Taxable income: $6,354
• Est. tax owed @ 24.0%: −$1,525
• After-tax cash flow: $5,722/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

+130.3% since first listed

6 events — show timeline

• 2026-05-13 Relisted — BRIGHT MLS
• 2026-03-17 Contingent — BRIGHT MLS
• 2026-03-04 Price Changed $94,900 BRIGHT MLS
• 2025-12-18 Price Changed $99,750 BRIGHT MLS
• 2025-11-18 Listed $119,500 BRIGHT MLS
• 1990-01-31 Sold (Public Records) $41,200 Public Records

Property tax history

-11.5%/yr

Latest (2025): $1,031 · -2.1% YoY. Source: county tax records.