820 Ocean Ave Ave #205 · Ocean City, NJ 08226

$330,000

1 bd · 1.0 ba · 516 sqft · Condo · 210 Days on market

Built 1991 $426/mo HOA · 6% of rent ↓ 3% since listing

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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
• 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

Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! 2024 income and expenses uploaded to associated docs.

Key facts

• Laminate flooring
• Bayside balcony
• Heated rooftop pool

Tags

• LAMINATE FLOORING
• GRANITE COUNTERTOPS
• GLASS TILE BACKSPLASH
• BREAKFAST BAR
• BAYSIDE BALCONY
• HEATED ROOFTOP POOL

Property features AI

Finance

• HOA & community: Condo fee of $426; Elevator; Cable TV in common areas

Exterior

• Parking: Parking for 1 car
• Utilities: City water; City sewer; Electric hot water
• Home design: Condo unit (Unit 205); For sale
• Exterior features: Patio; Pool; Proximity to beach: 1 block

Interior

• Kitchen: Oven; Microwave; Dishwasher
• Bedrooms: 1 bedroom (Unit 205)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Blinds; Living room; Kitchen; 3 total rooms; 1 lavatory

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $330k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $330k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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: 427 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 $10k 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 $92k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 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 $290,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 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 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?
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 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: 2.05% ✓
• Cap rate: 15.89%
• Cash-on-cash: 34.26%
• DSCR: 2.52
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 29.7%
• Equity multiple: 2.24×
• Total profit: $114,911
• Equity at exit: $49,204

10-year hold

• IRR: 37.1%
• Equity multiple: 4.44×
• Total profit: $317,895
• Equity at exit: $28,532

Cash invested: $92,400 (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: 427
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $6,765 medium
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$138
• HOA: −$426
• Vacancy / Maint / Mgmt: −$1,421
• Net cashflow: $2,638

Break-even live

Break-even rent $3,426

Max offer price $330,000

Occupancy floor 56%

Sensitivity live

Price	-10% $2,866	-5% $2,752	+0% $2,638	+5% $2,524	+10% $2,410
Rent	-10% $2,104	-5% $2,371	+0% $2,638	+5% $2,905	+10% $3,173
Rate	-1.0pp $2,804	-0.5pp $2,722	base $2,638	+0.5pp $2,553	+1.0pp $2,466

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: $82,500
• Closing costs: $9,900
• 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	45d	1	0.26mi
200 Bay Ave Unit 200 Ocean City, NJ	1.0	1.0	425	$7,800	$18.35	22d	1	0.83mi

HOA detail condo

• Monthly dues: $426 · $5,112/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-04
   days on market $330,000 Under Contract 210 DOM
2. 2026-06-03
   days on marketlisting id $330,000 Under Contract 209 DOM
3. 2026-04-29
   historical Under Contract 603-char remark

   Show marketing remark (603 chars)

   Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! 2024 income and expenses uploaded to associated docs.

4. 2026-04-29
   status Under Contract

   Show marketing remark (603 chars)

   Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! 2024 income and expenses uploaded to associated docs.

5. 2025-11-05
   listed $330,000 Active 603-char remark

   Show marketing remark (603 chars)

   Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! 2024 income and expenses uploaded to associated docs.

6. 2025-11-05
   listed $330,000 Active

   Show marketing remark (603 chars)

   Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! 2024 income and expenses uploaded to associated docs.

7. 2023-10-17
   historical 671-char remark

   Show marketing remark (671 chars)

   Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! Rental income approx. 20k (including fall/winter rental). Currently screening tenants for Oct-May tenancy at $1000/month.

8. 2023-09-08
   listed $339,000 Active 671-char remark

   Show marketing remark (671 chars)

   Renovated 1-bedroom condo with laminate flooring throughout, sleeps 4. Large Living Room with a Queen size sleeper sofa, flat screen TV, recessed lighting & dining area. Kitchen has granite countertops, glass tile backsplash, recessed lighting, breakfast bar & newer appliances, including a full size refrigerator, oven, dishwasher & microwave. The oversized BR has a King size bed, wall mounted flat screen TV & bayside balcony. An updated bathroom completes this awesome condo. Biscayne also features a heated rooftop pool! Rental income approx. 20k (including fall/winter rental). Currently screening tenants for Oct-May tenancy at $1000/month.

ⓘ 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: $81,184
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$1,650
• − Repairs & maintenance: −$6,495
• − Management: −$6,495
• − HOA: −$5,112
• − Depreciation: −$9,600
• Taxable income: $28,398
• Est. tax owed @ 24.0%: −$6,815
• After-tax cash flow: $24,842/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

-2.7% since first listed

6 events — show timeline

• 2026-04-29 Contingent — SJSRMLS
• 2026-04-29 Pending — CMCMLS
• 2025-11-05 Listed $330,000 CMCMLS
• 2025-11-05 Listed $330,000 SJSRMLS
• 2023-10-17 Listing Removed — SJSRMLS
• 2023-09-08 Listed $339,000 SJSRMLS