116 8th Ave · Dover Beaches North, NJ 08739

$3,190,000

7 bd · 6.0 ba · 3,939 sqft · SingleFamily public records · 40 Days on market

Built 2024 7,405 sqft lot $810/sqft · 12% below area Est $3845k · 17% under $44/mo HOA ↓ 9% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Appreciation +7.5/10.0
• Cash flow +5.0/30.0
• Schools +2.8/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to Jersey Shore luxury at its finest in the highly sought-after Normandy Beach! Built in 2024, this custom 4,200 sq ft beachside home offers the perfect blend of space, design, and coastal lifestyle--just steps from the beach. The first floor showcases an open-concept layout featuring a gourmet kitchen with expansive pantry, spacious dining area, and a stunning living room with a gas see-through fireplace that connects to a cozy sitting room. A first-floor bedroom, full bath, and additional half bath provide flexibility for guests or extended family. The second floor offers 5 generously sized bedrooms, including a primary suite with private ensuite bath, plus two Jack & Jill b

Key facts

• First-floor bedroom
• Gourmet kitchen
• Private ensuite

Tags

• GOURMET KITCHEN
• GAS SEE-THROUGH FIREPLACE
• FIRST-FLOOR BEDROOM
• SECOND-FLOOR LAUNDRY ROOM
• PRIVATE ENSUITE
• HEATED SALTWATER POOL

Property features AI

Finance

• Other: Living area approximately 4200; Located in Normandy Beach subdivision, Mantoloking, Ocean County
• HOA & community: Part of Normandy Beach Improvement Association; Annual association fee of $525

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public sewer
• Home design: Custom model; Fee simple ownership
• Construction: Crawl space basement (unfinished/other)
• Exterior features: Shingle roof; Insulated windows; Oceanside/beach block location; Level lot

Interior

• Kitchen: Gas cooking; Stove; Microwave; Dishwasher; Garbage disposal; Refrigerator; Freezer
• Bedrooms: 7 bedrooms (mix of first, second and third level bedrooms)
• Bathrooms: 5 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating with 3+ zoned heat; Central air conditioning with 3+ zoned AC; Other cooling
• Interior features: Ceiling fans; Fireplace (1); Washer and dryer included; Blinds/shades; Light fixtures; Outdoor lighting; Garage door opener; Generator; Pantry; Mudroom; Study; Bonus room; Other finished/usable rooms
• Laundry & utility: Laundry room (second level); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 7-bed/6.0-bath single-family listed at $3.19M.

Deal economics

• At list price, monthly cash flow is $-8k ($-92k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.84M (42.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.59M (50.0% below list).
• Recommended offer: $1.59M (50.0% below list) — sets the bar for 1% rule.
• Cap rate 3.5% vs local median 1.5% in Dover Beaches North — 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 51/100 on livability (#534 in NJ) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: schools C-, employment D+, amenities F.
• Brick Township Public School District (suburban): math 18% / reading 43% proficiency, ranked #330 of 472 in NJ (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• In year one you build about $180k of equity ($22k loan paydown + $158k appreciation (4.9% local appreciation)).
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$288k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($3.09M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,594,036 (50.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.50% ✗
• Cap rate: 3.47%
• Cash-on-cash: -10.09%
• DSCR: 0.55
• GRM: 16.7

CMA / ARV

• ARV (median comp): $3,844,690
• List price: $3,190,000
• Delta: -17.03%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 4th Ave	0.20mi	7/4.5	3,861 (-2%)	22mo	$1,854,200	$480	63
520 Normandy Dr	0.32mi	6/5.0 (-1)	4,250 (+8%)	23mo	$4,999,999	$1,176	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.27×
• Total profit: $238,026
• Equity at exit: $1,796,693

10-year hold

• IRR: 6.8%
• Equity multiple: 2.28×
• Total profit: $1,143,597
• Equity at exit: $3,091,760

Cash invested: $893,200 (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 08739

• Home prices YoY: 2.3%
• Active inventory: 6
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $15,940 medium
• Mortgage (P&I): −$16,729
• Tax from tax record: −$1,999 /mo · $23,986/yr
• Insurance: −$1,329
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$44
• Vacancy / Maint / Mgmt: −$3,347
• Net cashflow: $-7,630

Break-even live

Break-even rent $25,599

Max offer price $1,842,103

Occupancy floor —

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: $797,500
• Closing costs: $95,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 Highway 35 N Mantoloking, NJ	6.0	5.0	3948	$16,000	$4.05	24d	1	0.05mi
29 4th Ave Lavallette, NJ	7.0	4.5	3861	$13,000	$3.37	7d	1	0.19mi
520 Normandy Dr Unit WKLY SUMMER RENTAL Mantoloking, NJ	6.0	4.5	5000	$22,000	$4.40	1d	1	0.33mi

HOA detail

• Monthly dues: $44 · $528/yr
• Likely covers: gas

Listing history 15 events

1. 2026-06-18
   days on market $3,190,000 Active 40 DOM
2. 2026-06-17
   days on market $3,190,000 Active 39 DOM
3. 2026-06-16
   days on market $3,190,000 Active 38 DOM
4. 2026-06-15
   days on market $3,190,000 Active 37 DOM
5. 2026-06-13
   days on market $3,190,000 Active 35 DOM
6. 2026-06-13
   days on market $3,190,000 Active 34 DOM
7. 2026-06-09
   days on market $3,190,000 Active 31 DOM
8. 2026-06-08
   days on market $3,190,000 Active 30 DOM
9. 2026-06-07
   days on market $3,190,000 Active 29 DOM
10. 2026-06-04
    days on market $3,190,000 Active 26 DOM
11. 2026-06-03
    days on market $3,190,000 Active 25 DOM
12. 2026-06-02
    days on market $3,190,000 Active 24 DOM
13. 2026-06-01
    days on market $3,190,000 Active 23 DOM
14. 2026-05-31
    days on market $3,190,000 Active 22 DOM
15. 2026-05-08
    listed $3,499,999 Active 1357-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: $23,986 · $1,999/mo
• Projected year-2 tax: $51,709 · $4,309/mo
• Expected delta: +$27,722/yr (+$2,310/mo · 115.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AO · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $191,284
• − Mortgage interest: −$178,690
• − Property taxes: −$23,986
• − Insurance: −$17,418
• − Repairs & maintenance: −$15,303
• − Management: −$15,303
• − HOA: −$528
• − Depreciation: −$92,800
• Taxable loss: −$152,743
• Est. tax savings @ 24.0%: +$36,658
• After-tax cash flow: $-54,903/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: Brick Township Public School District
• NCES district ID: 3402220
• Math proficiency: 18% ▼ -24.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $68,717
• Composite: 28.31/100
• National rank: #6785
• State rank: #330 of 472 in NJ

Livability — Dover Beaches North

• Score: 51/100
• State rank: #534
• US rank: #25468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: ▲ 4.94%
• Current HPI: 219.6027
• 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

-8.9% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $3,190,000 MOMLS
• 2026-05-08 Listed $3,499,999 MOMLS

Property tax history

+70.6%/yr

Latest (2025): $23,986 · +176.7% YoY. Source: county tax records.