104 N Wissahickon Ave · Ventnor City, NJ 08402

$629,000

4 bd · 2.0 ba · 1,672 sqft · SingleFamily public records · 41 Days on market

Built 1925 Est $783k · 20% under

---

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
• Rent growth +4.7/5.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED! DUPLEX WITH 2 BEDROOMS AND 1 BATH IN EACH UNIT AND JUST 2 BLOCKS TO THE BEACH AND BOARDWALK! SUBJECT TO BANK APPROVAL.

Key facts

• Blocks to the beach
• Legal duplex
• Listed 41 days

Tags

• LEGAL DUPLEX
• BLOCKS TO THE BEACH

Property features AI

Finance

• Other: Lot approximately 30 x 62.5
• Financial info: Property offered for sale; Two-unit building (2 units, including two 2-bedroom units)

Exterior

• Parking: Off-site parking (no garage)
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Multi-family property; Suitable for multi-family + rooms
• Construction: Aluminum siding; Crawl space foundation
• Exterior features: Patio; Sidewalks

Interior

• Kitchen: Gas stove; Refrigerator
• Bedrooms: Two 2-bedroom units (one on lower level, one on upper level)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Radiator heating (natural gas); Window air-conditioning units
• Interior features: Disposal; Eat-in kitchen; Library/Study; Living room; Attic storage
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $629k.

Deal economics

• At list price, monthly cash flow is $6k ($70k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $629k).
• Recommended offer: $610k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.2% vs local median 4.1% in Ventnor 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 72/100 on livability (#202 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-, crime B+; Watch: amenities F, cost of living F.
• Ventnor City School District (suburban): math 27% / reading 49% proficiency, ranked #266 of 472 in NJ (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ventnor Elementary School (math 27% / reading 42%, grade F, #582 of 1,303 statewide, top 49%, 304 students, 47% FRL); Ventnor Middle School (math 28% / reading 52%, grade F, #197 of 431 statewide, top 46%, 204 students, 62% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k 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 $176k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($610k) is reasonable based on typical stale-listing flexibility.
• 3 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 $180k; list at $629k implies a 249% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $610,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.07% ✓
• Cap rate: 18.21%
• Cash-on-cash: 42.57%
• DSCR: 2.89
• GRM: 4.0

CMA / ARV

• ARV (median comp): $782,696
• List price: $629,000
• Delta: -19.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 N Portland Ave	0.30mi	3/2.0 (-1)	1,728 (+3%)	3mo	$675,000	$391	73
27 N Newark Ave	0.04mi	3/1.5 (-1)	1,518 (-9%)	4mo	$735,000	$484	73
207 N Harvard Ave	0.43mi	3/2.5 (-1)	1,671 (-0%)	2mo	$735,000	$440	71
2 S Melbourne	0.24mi	5/3.5 (+1)	1,730 (+4%)	5mo	$1,250,000	$723	68
6217 Monmouth Ave	0.41mi	3/2.0 (-1)	1,593 (-5%)	1mo	$396,000	$249	67
106 N Troy Ave	0.10mi	3/2.5 (-1)	1,838 (+10%)	8mo	$935,000	$509	65
123 N Clermont Ave Ave	0.58mi	3/2.5 (-1)	1,700 (+2%)	4mo	$915,000	$538	60
209 N Fredericksburg Ave	0.36mi	3/2.5 (-1)	1,864 (+12%)	1mo	$775,000	$416	56
6303 Monmouth Ave	0.37mi	3/2.0 (-1)	1,500 (-10%)	5mo	$499,900	$333	56
221 N Belmont Dr	0.53mi	3/2.0 (-1)	1,512 (-10%)	1mo	$1,149,000	$760	54
7510 Fremont Ave	0.59mi	3/2.5 (-1)	1,803 (+8%)	4mo	$750,000	$416	49
504 N Burghley Ave	0.69mi	4/2.5	1,918 (+15%)	2mo	$835,000	$435	40

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: 41.6%
• Equity multiple: 2.92×
• Total profit: $337,949
• Equity at exit: $93,786

10-year hold

• IRR: 50.2%
• Equity multiple: 7.17×
• Total profit: $1,086,100
• Equity at exit: $54,384

Cash invested: $176,120 (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: 4.0×

Monthly cashflow live

• Estimated rent: $13,025 medium
• Mortgage (P&I): −$3,299
• Tax from tax record: −$481 /mo · $5,775/yr
• Insurance: −$262
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,735
• Net cashflow: $5,821

Break-even live

Break-even rent $5,656

Max offer price $629,000

Occupancy floor 50%

Sensitivity live

Price	-10% $6,177	-5% $5,999	+0% $5,821	+5% $5,643	+10% $5,465
Rent	-10% $4,792	-5% $5,307	+0% $5,821	+5% $6,336	+10% $6,850
Rate	-1.0pp $6,138	-0.5pp $5,981	base $5,821	+0.5pp $5,658	+1.0pp $5,493

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: $157,250
• Closing costs: $18,870
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	22d	1	0.04mi
7 S Richards Ave Ventnor City, NJ	4.0	2.0	1600	$25,000	$15.62	14d	1	0.15mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	45d	1	0.20mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	14d	1	0.47mi
7701 Atlantic Ave Margate City, NJ	1.0–3.0	2.0–3.0	1660	$75,000	$45.18	45d	4	0.62mi
200 N Essex Ave Margate City, NJ	4.0	3.0	1570	$15,000	$9.55	45d	1	0.70mi
406 N Dorset Ave Ventnor City, NJ	4.0	1.5	1568	$13,000	$8.29	14d	1	0.71mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	22d	1	0.71mi
307 N Essex Ave Margate City, NJ	4.0	2.0	1561	$1,800	$1.15	45d	1	0.75mi
2 N Frontenac Ave Margate City, NJ	3.0	2.5	1850	$17,000	$9.19	22d	1	0.77mi
3 S Surrey Ave Unit 1309004P Ventnor City, NJ	3.0	2.0	1087	$8,055	$7.41	22d	1	0.92mi
3 S Surrey Ave Unit 1308991P Ventnor City, NJ	3.0	2.0	1087	$7,267	$6.69	45d	1	0.92mi
610A N Victoria Ave Ventnor City, NJ	3.0	2.5	1800	$2,550	$1.42	22d	1	1.06mi
1 N Austin Ave Unit 1308998P Ventnor City, NJ	3.0	3.0	2195	$7,184	$3.27	22d	1	1.18mi
24 N Baton Rouge Ave Ventnor City, NJ	3.0	2.0	1350	$18,000	$13.33	14d	1	1.22mi

Listing history 25 events

1. 2026-06-21
   days on market $629,000 Active 41 DOM
2. 2026-06-19
   days on market $629,000 Active 39 DOM
3. 2026-06-18
   days on market $629,000 Active 38 DOM
4. 2026-06-17
   days on market $629,000 Active 37 DOM
5. 2026-06-16
   days on market $629,000 Active 36 DOM
6. 2026-06-15
   days on market $629,000 Active 35 DOM
7. 2026-06-14
   days on market $629,000 Active 33 DOM
8. 2026-06-13
   days on market $629,000 Active 32 DOM
9. 2026-06-10
   days on market $629,000 Active 30 DOM
10. 2026-06-09
    days on market $629,000 Active 29 DOM
11. 2026-06-08
    days on market $629,000 Active 28 DOM
12. 2026-06-07
    days on market $629,000 Active 27 DOM
13. 2026-06-03
    days on market $629,000 Active 23 DOM
14. 2026-06-02
    days on market $629,000 Active 22 DOM
15. 2026-06-01
    days on market $629,000 Active 21 DOM
16. 2026-05-31
    days on market $629,000 Active 20 DOM
17. 2026-05-30
    days on market $629,000 Active 19 DOM
18. 2026-05-11
    listed $659,000 Active 535-char remark
19. 2011-09-16
    soldstatus $180,000 128-char remark

    Show marketing remark (128 chars)

    REDUCED! DUPLEX WITH 2 BEDROOMS AND 1 BATH IN EACH UNIT AND JUST 2 BLOCKS TO THE BEACH AND BOARDWALK! SUBJECT TO BANK APPROVAL.

20. 2011-06-07
    historical 128-char remark

    Show marketing remark (128 chars)

    REDUCED! DUPLEX WITH 2 BEDROOMS AND 1 BATH IN EACH UNIT AND JUST 2 BLOCKS TO THE BEACH AND BOARDWALK! SUBJECT TO BANK APPROVAL.

21. 2011-04-25
    listed $188,980 128-char remark

    Show marketing remark (105 chars)

    DUPLEX WITH 2 BEDROOMS AND 1 BATH IN EACH UINIT AND JUST 2 BLOCKS TO THE BEACH! SUBJECT TO BANK APPROVAL.

22. 2011-04-25
    historical

    Show marketing remark (105 chars)

    DUPLEX WITH 2 BEDROOMS AND 1 BATH IN EACH UINIT AND JUST 2 BLOCKS TO THE BEACH! SUBJECT TO BANK APPROVAL.

23. 2010-10-05
    listed $179,900

    Show marketing remark (105 chars)

    DUPLEX WITH 2 BEDROOMS AND 1 BATH IN EACH UINIT AND JUST 2 BLOCKS TO THE BEACH! SUBJECT TO BANK APPROVAL.

24. 1991-11-06
    soldstatus $106,500
25. 1990-07-03
    soldstatus $80,000

ⓘ 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: $5,775 · $481/mo
• Projected year-2 tax: $10,719 · $893/mo
• Expected delta: +$4,944/yr (+$412/mo · 85.6%)

ⓘ 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 9/10 Extreme 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: $156,301
• − Mortgage interest: −$35,234
• − Property taxes: −$5,775
• − Insurance: −$8,264
• − Repairs & maintenance: −$12,504
• − Management: −$12,504
• − Depreciation: −$18,298
• Taxable income: $63,722
• Est. tax owed @ 24.0%: −$15,293
• After-tax cash flow: $54,563/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: Ventnor City School District
• NCES district ID: 3416680
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $52,220
• Composite: 32.96/100
• National rank: #5588
• State rank: #266 of 472 in NJ

Livability — Ventnor City

• Score: 72/100
• State rank: #202
• US rank: #5716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ventnor City, NJ
• County: Atlantic County · 143,611 people
• City population: 8,972
• 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

+686.2% since first listed

9 events — show timeline

• 2026-05-30 Price Changed $629,000 SJSRMLS
• 2026-05-11 Listed $659,000 SJSRMLS
• 2011-09-16 Sold (MLS) $180,000 SJSRMLS
• 2011-06-07 Listing Removed — SJSRMLS
• 2011-04-25 Listing Removed — SJSRMLS
• 2011-04-25 Listed $188,980 SJSRMLS
• 2010-10-05 Listed $179,900 SJSRMLS
• 1991-11-06 Sold (Public Records) $106,500 Public Records
• 1990-07-03 Sold (Public Records) $80,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $5,775 · +3.3% YoY. Source: county tax records.