7205 New Jersey Ave #3 · Wildwood Crest, NJ 08260-3843

$1,225,000

3 bd · 2.0 ba · 1,503 sqft · Condo public records · 32 Days on market

Built 2002

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Why this score? — see what drove the C 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Bayfront luxury at its finest! Whether you're seeking a private retreat, vacation getaway, investment opportunity, or simply a place to live the lifestyle you deserve, this stunning residence delivers it all. Nothing was overlooked in this exceptional unit featuring: - 3 spacious bedrooms with king-size bedding - 2 full baths - Utility room with washer and dryer - State-of-the-art kitchen with countertop seating for casual dining plus a separate dining area - Open-concept kitchen, dining area, and living room designed for entertaining - Living room with fireplace - Sliders leading to a private deck with views second to none - Storage area and (3) garage - Enclosed outside shower This

Key facts

• Garage
• Built 2002
• Listed 32 days

Property features AI

Finance

• Other: Located four blocks from the beach
• HOA & community: Condo fee of $3,500

Exterior

• Parking: Attached garage for 3 cars with concrete driveway
• Utilities: Public water; Public sewer; Gas hot water
• Home design: Condo / multi-unit property; Top floor unit (unit 3)
• Construction: Construction details not provided
• Exterior features: Deck/porch; Outside shower; Year-round usage; Owners allowed pets; Top-floor unit

Interior

• Kitchen: Oven; Microwave; Refrigerator; Dishwasher; Disposal; Kitchen center island
• Bedrooms: 3 bedrooms (one master on the 1st floor)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas and electric heating with forced air; Central air conditioning
• Interior features: Furniture included; Living room; Dining room; Kitchen; Laundry/utility room; Storage space; 1st-floor master bedroom; Fireplace; Kitchen center island
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $1.23M.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.20M (2.0% below list).
• Recommended offer: $1.19M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.7% in Wildwood Crest — 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 70/100 on livability (#257 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities C-, commute F, cost of living F.
• Wildwood Crest Borough School District (suburban): math 35% / reading 45% proficiency, ranked #493 of 612 in NJ (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 877 units permitted in Cape May County in 2024 (35 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($8k loan paydown + $37k appreciation (3.0% local appreciation)).
• 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 $343k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($1.19M) 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.
• Current owner paid $638k; list at $1.23M implies a 92% gain — meaningful room to come down on a strong offer.

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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,188,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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. 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. 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 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: 0.98% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.5

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: 12.4%
• Equity multiple: 1.71×
• Total profit: $243,554
• Equity at exit: $550,813

10-year hold

• IRR: 14.4%
• Equity multiple: 3.14×
• Total profit: $732,360
• Equity at exit: $848,869

Cash invested: $343,000 (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 08260-3843

• Active inventory: 1
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $12,000 medium
• Mortgage (P&I): −$6,424
• Tax from tax record: −$610 /mo · $7,320/yr
• Insurance: −$510
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,520
• Net cashflow: $1,509

Break-even live

Break-even rent $10,090

Max offer price $1,225,000

Occupancy floor 82%

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: $306,250
• Closing costs: $36,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	43d	1	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $1,225,000 Active 32 DOM
2. 2026-06-17
   days on market $1,225,000 Active 31 DOM
3. 2026-06-16
   days on market $1,225,000 Active 30 DOM
4. 2026-06-15
   days on market $1,225,000 Active 29 DOM
5. 2026-06-13
   days on market $1,225,000 Active 27 DOM
6. 2026-06-12
   days on market $1,225,000 Active 26 DOM
7. 2026-06-09
   days on market $1,225,000 Active 23 DOM
8. 2026-06-08
   days on market $1,225,000 Active 22 DOM
9. 2026-06-07
   days on market $1,225,000 Active 21 DOM
10. 2026-06-07
    days on market $1,225,000 Active 20 DOM
11. 2026-06-04
    days on market $1,225,000 Active 17 DOM
12. 2026-06-02
    days on market $1,225,000 Active 16 DOM
13. 2026-06-01
    days on market $1,225,000 Active 15 DOM
14. 2026-05-31
    days on market $1,225,000 Active 14 DOM
15. 2026-05-17
    listed $1,225,000 Active
16. 2026-05-14
    listed $1,225,000
17. 2007-01-22
    soldstatus $638,000

ⓘ 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: $7,320 · $610/mo
• Projected year-2 tax: $18,911 · $1,576/mo
• Expected delta: +$11,591/yr (+$966/mo · 158.3%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $144,000
• − Mortgage interest: −$68,619
• − Property taxes: −$7,320
• − Insurance: −$11,244
• − Repairs & maintenance: −$11,520
• − Management: −$11,520
• − Depreciation: −$35,636
• Taxable loss: −$1,859
• Est. tax savings @ 24.0%: +$446
• After-tax cash flow: $18,554/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: Wildwood Crest Borough School District
• NCES district ID: 3417970
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $55,087
• Composite: 37.39/100
• National rank: #8922
• State rank: #493 of 612 in NJ

Livability — Wildwood Crest

• Score: 70/100
• State rank: #257
• US rank: #7359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood Crest, NJ

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+92.0% since first listed

3 events — show timeline

• 2026-05-17 Listed $1,225,000 CMCMLS
• 2026-05-14 Listed $1,225,000 CMCMLS
• 2007-01-22 Sold (Public Records) $638,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $7,320 · +1.4% YoY. Source: county tax records.