24 Harbor Ln · Margate City, NJ 08402

$985,000

4 bd · 2.5 ba · 2,372 sqft · SingleFamily public records · 50 Days on market

Built 1981 $415/sqft · 6% above area Est $1034k · at est.

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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
• ARV discount +9.6/15.0
• 1% rule +8.1/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 24 Harbor Lane in Margate, NJ! Located on a quiet cul-de-sac, this oversized, extremely spacious 2 story home offers over 2638 square feet. Perfect for large families to live, love and grow -- whether you choose to live here year-round or make summer memories in your shore home. Margate boasts an award winning school system. This home offers 4 bedrooms including a large owner’s suite with spa shower and 2.5 baths, garage, den, sunroom, deck, garden area and more. Enter into the expansive living room which opens up to a dining area adjacent to an eat-in kitchen with pantry. Step down into the spacious, cozy den with a wood burning fireplace. Enjoy the large Four Season sun r

Key facts

• Four season sun room
• Backyard deck
• Fenced in back yard

Tags

• OWNER'S SUITE WITH SPA SHOWER
• WOOD BURNING FIREPLACE
• FOUR SEASON SUN ROOM
• BACKYARD DECK
• FENCED IN BACK YARD
• NEWER CENTRAL AIR

Property features AI

Finance

• Other: Sellers Property Condition disclosure available

Exterior

• Parking: Detached two-car exterior parking available; Attached one-car garage
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Vinyl siding; Property is for sale; Lot frontage approx. 65'; Lot dimensions approx. 65 x 75; Lot under 1 acre
• Construction: Home older than 25 years; Crawl space foundation
• Exterior features: Deck; Patio; Fenced yard; Concrete driveway; Located on a cul-de-sac

Interior

• Kitchen: Eat-in kitchen; Dishwasher; Electric stove; Refrigerator; Pantry; Breakfast nook
• Bedrooms: Primary bedroom on upper level (approx. 24.11 x 13.7); Second bedroom on upper level (approx. 19.8 x 11.4); Third bedroom on upper level (approx. 16.4 x 12); Fourth bedroom on upper level (approx. 17.5 x 13)
• Flooring: Hardwood; Tile; Wall-to-wall carpet
• Bathrooms: Two full bathrooms; One half bathroom; Main-level full bath; Upper-level full baths
• Heating & cooling: Central air conditioning; Multi-zoned A/C; Natural gas heating; Wood-burning fireplace in family room (built-in; other details in remarks)
• Interior features: Greenhouse; Security system; Storage space; Skylights; Smoke / fire alarm; Walk-in closet
• Laundry & utility: Washer; Dryer; Main-level utility / laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $985k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $985k).
• Recommended offer: $955k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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: crime A+, employment A+, health & safety 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.
• Zoned schools: William H. Ross Iii School (math 37% / reading 62%, grade D, #256 of 1,303 statewide, top 22%, 184 students, 4% FRL); Eugene A. Tighe Middle School (math 57% / reading 57%, grade B, #51 of 431 statewide, top 12%, 152 students, 6% FRL) — zoned schools at 5% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $12,857/mo this rent would consume 127% 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 $7k of loan paydown is wiped out by about $30k 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 $276k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($955k) is reasonable based on typical stale-listing flexibility.

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 $955,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.79%
• DSCR: 1.75
• GRM: 6.4

CMA / ARV

• ARV (median comp): $1,034,240
• List price: $985,000
• Delta: -4.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Bayside Ct	0.15mi	3/2.5 (-1)	2,448 (+3%)	7mo	$933,000	$381	77
8508 Wellington Ave	0.35mi	4/3.0	2,547 (+7%)	8mo	$1,325,000	$520	63
29 East Dr	0.73mi	4/2.5	2,426 (+2%)	1mo	$1,525,000	$629	61
614 N Delavan Ave	0.21mi	3/2.5 (-1)	2,084 (-12%)	6mo	$810,000	$389	60
302 N Mansfield Ave	0.51mi	4/3.5	2,500 (+5%)	5mo	$2,100,000	$840	59
421 N Delavan Ave	0.26mi	5/4.0 (+1)	2,650 (+12%)	0mo	$1,512,500	$571	57
414 N Clermont Ave	0.31mi	4/3.0	2,076 (-12%)	9mo	$760,000	$366	55
111 N Brunswick Ave	0.60mi	5/3.5 (+1)	2,500 (+5%)	1mo	$2,175,000	$870	53
119 N Clermont Ave	0.54mi	3/2.5 (-1)	2,125 (-10%)	1mo	$1,150,000	$541	52
108 N Clermont Ave	0.56mi	5/4.5 (+1)	2,168 (-9%)	7mo	$1,475,000	$680	40
8702 Winchester Ave Ave	0.74mi	3/2.5 (-1)	2,048 (-14%)	8mo	$1,700,000	$830	31
17 N Lancaster Ave	0.67mi	5/4.5 (+1)	2,700 (+14%)	5mo	$2,800,000	$1,037	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.46×
• Total profit: $127,142
• Equity at exit: $146,867

10-year hold

• IRR: 23.8%
• Equity multiple: 3.55×
• Total profit: $702,119
• Equity at exit: $85,165

Cash invested: $275,800 (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: 6.4×

Monthly cashflow live

• Estimated rent: $12,857 medium
• Mortgage (P&I): −$5,165
• Tax from tax record: −$722 /mo · $8,662/yr
• Insurance: −$410
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,700
• Net cashflow: $3,433

Break-even live

Break-even rent $8,512

Max offer price $985,000

Occupancy floor 68%

Sensitivity live

Price	-10% $3,991	-5% $3,712	+0% $3,433	+5% $3,154	+10% $2,876
Rent	-10% $2,417	-5% $2,925	+0% $3,433	+5% $3,941	+10% $4,449
Rate	-1.0pp $3,929	-0.5pp $3,684	base $3,433	+0.5pp $3,178	+1.0pp $2,918

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: $246,250
• Closing costs: $29,550
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	15d	1	0.18mi
107 N Douglas Ave Unit AUGUST Margate City, NJ	5.0	3.5	2312	$33,000	$14.27	23d	1	0.56mi
107 N Douglas Ave Margate City, NJ	5.0	3.5	2312	$36,000	$15.57	46d	1	0.57mi
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	46d	1	0.62mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	15d	1	0.63mi
111 N Belmont Ave Margate City, NJ	5.0	3.5	3200	$35,000	$10.94	23d	1	0.65mi
2 N Frontenac Ave Margate City, NJ	3.0	2.5	1850	$17,000	$9.19	23d	1	0.70mi
204 N Union Ave Margate City, NJ	5.0	4.0	2393	$5,000	$2.09	46d	1	0.81mi
7701 Atlantic Ave Margate City, NJ	1.0–3.0	2.0–3.0	1660	$75,000	$45.18	46d	4	0.86mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	23d	1	0.90mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	46d	1	0.96mi
7103 Ventnor Ave Ventnor City, NJ	4.0	3.0	2288	$5,500	$2.40	15d	1	1.00mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	23d	1	1.06mi
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	23d	1	1.07mi
9411 Winchester Ave Margate City, NJ	5.0	3.5	2776	$11,500	$4.14	46d	1	1.13mi
16 S Decatur Ave Unit 9/15-10/31 Margate City, NJ	4.0	3.0	1732	$7,000	$4.04	46d	1	1.14mi
129 N New Haven Ave #2 Ventnor City, NJ	3.0	2.5	2812	$21,000	$7.47	23d	1	1.17mi
129 N New Haven Ave Fl 2 (MemDay July 31) Ventnor City, NJ	3.0	2.5	2812	$35,000	$12.45	46d	1	1.17mi
129 N New Haven Ave Fl 2 (July '26) Ventnor City, NJ	3.0	2.5	2812	$24,000	$8.53	46d	1	1.17mi
129 N New Haven Ave Fl 2 (MemDay June30) Ventnor City, NJ	3.0	2.5	2812	$12,000	$4.27	46d	1	1.17mi
129 N New Haven Ave Fl 2 (June '26) Ventnor City, NJ	3.0	2.5	2812	$9,000	$3.20	46d	1	1.17mi
7 S Richards Ave Ventnor City, NJ	4.0	2.0	1600	$25,000	$15.62	15d	1	1.21mi

Listing history 20 events

1. 2026-06-22
   days on market $985,000 Under Contract 50 DOM
2. 2026-06-19
   days on market $985,000 Under Contract 48 DOM
3. 2026-06-18
   days on market $985,000 Under Contract 47 DOM
4. 2026-06-17
   days on market $985,000 Under Contract 46 DOM
5. 2026-06-16
   days on market $985,000 Under Contract 45 DOM
6. 2026-06-15
   days on market $985,000 Under Contract 44 DOM
7. 2026-06-14
   days on market $985,000 Under Contract 42 DOM
8. 2026-06-13
   days on market $985,000 Under Contract 41 DOM
9. 2026-06-10
   days on market $985,000 Under Contract 39 DOM
10. 2026-06-09
    days on market $985,000 Under Contract 38 DOM
11. 2026-06-08
    days on market $985,000 Under Contract 37 DOM
12. 2026-06-07
    days on market $985,000 Under Contract 36 DOM
13. 2026-06-05
    days on market $985,000 Under Contract 33 DOM
14. 2026-06-02
    days on market $985,000 Under Contract 31 DOM
15. 2026-06-01
    days on market $985,000 Under Contract 30 DOM
16. 2026-05-31
    statusdays on market $985,000 Under Contract 29 DOM
17. 2026-05-30
    days on market $985,000 Under Contract - Continue to Show 28 DOM
18. 2026-05-16
    historical Under Contract - Continue to Show 1355-char remark
19. 2026-05-03
    price $985,000 1355-char remark
20. 2026-05-02
    listed $939,000 Active 1355-char remark

ⓘ 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: $8,662 · $722/mo
• Projected year-2 tax: $16,594 · $1,383/mo
• Expected delta: +$7,932/yr (+$661/mo · 91.6%)

ⓘ 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 1/10 Low
• 🌡 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: $154,290
• − Mortgage interest: −$55,175
• − Property taxes: −$8,662
• − Insurance: −$10,044
• − Repairs & maintenance: −$12,343
• − Management: −$12,343
• − Depreciation: −$28,655
• Taxable income: $27,068
• Est. tax owed @ 24.0%: −$6,496
• After-tax cash flow: $34,702/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

+4.9% since first listed

3 events — show timeline

• 2026-05-16 Contingent — SJSRMLS
• 2026-05-03 Price Changed $985,000 SJSRMLS
• 2026-05-02 Listed $939,000 SJSRMLS

Property tax history

+1.9%/yr

Latest (2025): $8,662 · +4.6% YoY. Source: county tax records.