705 Dudley Ave #D2 · Ventnor City, NJ 08406

$176,000

2 bd · 1.0 ba · 805 sqft · Condo · 116 Days on market

Built 1965 Fair condition $219/sqft · 6% above area Est $166k · 6% over $700/mo HOA · 19% of rent ↓ 4% 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
• Rent growth +5.0/5.0
• ARV discount +4.8/15.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. Serious inquiries only.

Key facts

• Shopping centers
• $700 HOA
• Built 1965

Tags

• SHORT WALK FROM THE BEACH
• SHOPPING CENTERS
• PUBLIC TRANSPORTATION
• CLOSE TO STOCKTON UNIVERSITY
• CLOSE TO ATLANTICARE HOSPITAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $176k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $176k).
• Recommended offer: $160k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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: schools C-, 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.
• Market conditions: Rents rising fast (+57.3%/yr); 155 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $3,649/mo this rent would consume 63% of the median local household income ($69k/yr) (locally 329% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $160,160 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.07% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.53%
• DSCR: 2.05
• GRM: 4.0

CMA / ARV

• ARV (median comp): $166,197
• List price: $176,000
• Delta: 5.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.07×
• Total profit: $52,794
• Equity at exit: $26,242

10-year hold

• IRR: 35.7%
• Equity multiple: 5.36×
• Total profit: $214,959
• Equity at exit: $15,217

Cash invested: $49,280 (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 08406

• Home prices YoY: -33.3%
• Rents YoY: 57.3%
• Active inventory: 155
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,649 high
• Mortgage (P&I): −$923
• Tax est. 1.5%: −$220 /mo · $2,640/yr
• Insurance: −$73
• HOA: −$700
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $966

Break-even live

Break-even rent $2,426

Max offer price $176,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,088	-5% $1,027	+0% $966	+5% $905	+10% $845
Rent	-10% $678	-5% $822	+0% $966	+5% $1,110	+10% $1,255
Rate	-1.0pp $1,055	-0.5pp $1,011	base $966	+0.5pp $921	+1.0pp $874

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: $44,000
• Closing costs: $5,280
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 N Dudley Ave Unit 1309013P Ventnor City, NJ	2.0	2.0	893	$3,886	$4.35	13d	1	0.53mi
236 N Derby Ave #907 Ventnor City, NJ	1.0	1.5	832	$2,100	$2.52	44d	1	0.53mi
205 N Dorset Ave Unit 2 Ventnor City, NJ	2.0	2.0	875	$2,300	$2.63	21d	1	0.57mi
206 N Dorset Ave Unit 1309019P Ventnor City, NJ	1.0	1.0	645	$3,457	$5.36	13d	1	0.57mi
120 N Harvard Ave Ventnor City, NJ	3.0	1.0	1000	$2,100	$2.10	44d	1	0.70mi
6300 Winchester Ave Unit 2ND FLOOR Ventnor City, NJ	2.0	2.0	840	$9,000	$10.71	13d	1	0.79mi
16 N Sacramento Ave Unit 2 Ventnor City, NJ	1.0	1.0	625	$1,600	$2.56	44d	1	0.80mi
3 S Surrey Ave Unit 1308991P Ventnor City, NJ	3.0	2.0	1087	$7,267	$6.69	44d	1	0.88mi
3 S Surrey Ave Unit 1309004P Ventnor City, NJ	3.0	2.0	1087	$8,055	$7.41	21d	1	0.88mi
5101 Ventnor Ave Unit 2 Ventnor City, NJ	2.0	1.0	1000	$1,950	$1.95	13d	1	0.93mi
23 S Little Rock Ave Unit 2 Ventnor City, NJ	2.0	2.0	1000	$2,500	$2.50	44d	1	0.96mi
101 S Victoria Ave Unit B1 Ventnor City, NJ	1.0	1.0	550	$2,100	$3.82	13d	1	1.00mi
5200 Boardwalk Unit 10A Ventnor City, NJ	1.0	2.0	1104	$21,000	$19.02	13d	1	1.08mi
21 S Windsor Ave Unit b1 Atlantic City, NJ	2.0	1.0	640	$1,650	$2.58	13d	1	1.40mi
101 S Raleigh Ave Atlantic City, NJ	2.0	1.0	735	$18,750	$25.51	13d	7	1.42mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Likely covers: watersewertrashsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-19
   days on market $176,000 Active 116 DOM
2. 2026-06-18
   days on market $176,000 Active 115 DOM
3. 2026-06-17
   days on market $176,000 Active 114 DOM
4. 2026-06-16
   days on market $176,000 Active 113 DOM
5. 2026-06-15
   days on market $176,000 Active 112 DOM
6. 2026-06-14
   days on market $176,000 Active 110 DOM
7. 2026-06-13
   days on market $176,000 Active 109 DOM
8. 2026-06-10
   days on market $176,000 Active 107 DOM
9. 2026-06-09
   days on market $176,000 Active 106 DOM
10. 2026-06-08
    days on market $176,000 Active 105 DOM
11. 2026-06-07
    days on market $176,000 Active 104 DOM
12. 2026-06-03
    days on market $176,000 Active 100 DOM
13. 2026-06-02
    days on market $176,000 Active 99 DOM
14. 2026-06-01
    days on market $176,000 Active 98 DOM
15. 2026-05-31
    days on market $176,000 Active 97 DOM
16. 2026-05-30
    days on market $176,000 Active 96 DOM
17. 2026-02-23
    listed $176,000 Active 313-char remark

    Show marketing remark (313 chars)

    Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. Serious inquiries only.

18. 2025-12-24
    historical Under Contract 320-char remark

    Show marketing remark (320 chars)

    Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. This condo is non-warrantable.

19. 2025-12-22
    historical 320-char remark

    Show marketing remark (320 chars)

    Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. This condo is non-warrantable.

20. 2025-08-20
    price $176,000 320-char remark

    Show marketing remark (320 chars)

    Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. This condo is non-warrantable.

21. 2025-06-13
    price $179,777 320-char remark

    Show marketing remark (320 chars)

    Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. This condo is non-warrantable.

22. 2025-05-14
    listed $182,500 Active 320-char remark

    Show marketing remark (320 chars)

    Welcome to Ventnor Heights! PRIME LOCATION: short walk from the beach, shopping centers, and public transportation. Close to Stockton University and AtlantiCare Hospital. HOA fee covers heat, water, sewer, trash, snow removal, maintenance and management. Space for washer and dryer hookup. This condo is non-warrantable.

ⓘ 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: $43,786
• − Mortgage interest: −$9,859
• − Property taxes: −$2,640
• − Insurance: −$880
• − Repairs & maintenance: −$3,503
• − Management: −$3,503
• − HOA: −$8,400
• − Depreciation: −$5,120
• Taxable income: $9,882
• Est. tax owed @ 24.0%: −$2,372
• After-tax cash flow: $9,224/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.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This two-bedroom condo requires moderate renovations to improve its condition and appeal to buyers or renters. Key areas for improvement include the kitchen, bathroom, and exterior. Upgrades in these areas would significantly enhance its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Major bathroom fixtures — outdated and cluttered
• Minor exterior siding — some discoloration

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Resale replace countertops — modernizes kitchen
• Resale replace flooring — improves home's overall appearance
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · outdated and cluttered	Major	$15,000–50,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace countertops — modernizes kitchen ↑
• Resale replace flooring — improves home's overall appearance ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 8,972
• Household income: $69,099
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 329.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Asian 9% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Iranian 2%
• Foreign-born: 21% · Canada, Jamaica, Vietnam
• Languages at home: 76% English-only · Spanish 10% Other Indo-European 5% 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: ▼ -223.99%
• Current HPI: 449.3494
• Rent YoY: ▲ 57.28%
• 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

-3.6% since first listed

6 events — show timeline

• 2026-02-23 Listed $176,000 SJSRMLS
• 2025-12-24 Contingent — SJSRMLS
• 2025-12-22 Listing Removed — SJSRMLS
• 2025-08-20 Price Changed $176,000 SJSRMLS
• 2025-06-13 Price Changed $179,777 SJSRMLS
• 2025-05-14 Listed $182,500 SJSRMLS