606 W Ocean Heights Ave · Somers Point, NJ 08221

$325,000

4 bd · 2.0 ba · 2,131 sqft · MultiFamily · 171 Days on market

Built 1860 0.60 ac lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Opportunity knocks in Linwood! Solid duplex with great bones on an oversized lot, located directly across from Ocean Heights Plaza in Somers Point, offering immediate access to ShopRite, Staples, dining, and daily conveniences. One unit requires a full renovation—ideal for investors or owner-occupants looking for a value-add project—while the second unit is in good, livable condition and can generate income right away. The building is older but structurally sound, giving you a strong foundation for upgrades. Not located in a flood zone, helping keep insurance costs down. A rare investment opportunity in a high-demand location with excellent proximity to schools, parks, shopping, and major shore routes.

Key facts

• Oversized lot
• High-demand location
• 0.6 acre lot

Tags

• OVERSIZED LOT
• IMMEDIATE ACCESS TO SHOPRITE
• NOT LOCATED IN A FLOOD ZONE
• HIGH-DEMAND LOCATION
• EXCELLENT PROXIMITY TO SCHOOLS
• EXCELLENT PROXIMITY TO PARKS

Property features AI

Finance

• Financial info: Two total units; Two units currently leased; One unit on month-to-month tenancy; Rental income from apartment rentals; Operating expenses include insurance; Not rent-controlled; Existing leases: month-to-month and long-term

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Detached structure; Fee simple ownership
• Construction: Stucco exterior; Block foundation; Above-grade structures
• Exterior features: Lot dimensions approximately 153.15 x 171.6; No tidal water

Interior

• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Heating & cooling: Window air conditioning units (electric); Natural gas heating; Natural gas hot water
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive. Per door: $395/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.8% in Somers Point — 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 68/100 on livability (#314 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: crime C-, cost of living D, schools D-.
• Somers Point School District (suburban): math 9% / reading 33% proficiency, ranked #423 of 472 in NJ (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $50k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $325k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.18% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 7.0

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-2,292
• Equity at exit: $48,459

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $63,026
• Equity at exit: $28,100

Cash invested: $91,000 (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 08221

• Active inventory: 87
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,843 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$807
• Net cashflow: $790

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 74%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,844
Total (2 units)			$3,843

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 7th St Somers Point, NJ	4.0	2.5	1620	$4,000	$2.47	20d	1	0.91mi
1 Broadmoor Dr Egg Harbor Township, NJ	5.0	2.5	2488	$3,400	$1.37	20d	1	1.26mi

Listing history 21 events

1. 2026-06-18
   days on market $325,000 Active 171 DOM
2. 2026-06-17
   days on market $325,000 Active 170 DOM
3. 2026-06-16
   days on market $325,000 Active 169 DOM
4. 2026-06-15
   days on market $325,000 Active 168 DOM
5. 2026-06-13
   days on market $325,000 Active 166 DOM
6. 2026-06-12
   days on market $325,000 Active 165 DOM
7. 2026-06-09
   days on market $325,000 Active 162 DOM
8. 2026-06-08
   days on market $325,000 Active 161 DOM
9. 2026-06-07
   days on market $325,000 Active 160 DOM
10. 2026-06-07
    days on market $325,000 Active 159 DOM
11. 2026-06-04
    days on market $325,000 Active 156 DOM
12. 2026-06-02
    days on market $325,000 Active 155 DOM
13. 2026-06-01
    days on market $325,000 Active 154 DOM
14. 2026-05-31
    days on market $325,000 Active 153 DOM
15. 2026-02-18
    price $325,000 723-char remark

    Show marketing remark (723 chars)

    Opportunity knocks in Linwood! Solid duplex with great bones on an oversized lot, located directly across from Ocean Heights Plaza in Somers Point, offering immediate access to ShopRite, Staples, dining, and daily conveniences. One unit requires a full renovation—ideal for investors or owner-occupants looking for a value-add project—while the second unit is in good, livable condition and can generate income right away. The building is older but structurally sound, giving you a strong foundation for upgrades. Not located in a flood zone, helping keep insurance costs down. A rare investment opportunity in a high-demand location with excellent proximity to schools, parks, shopping, and major shore routes.

16. 2026-02-17
    price $325,000
17. 2026-01-02
    listed $375,000 Active 723-char remark

    Show marketing remark (723 chars)

    Opportunity knocks in Linwood! Solid duplex with great bones on an oversized lot, located directly across from Ocean Heights Plaza in Somers Point, offering immediate access to ShopRite, Staples, dining, and daily conveniences. One unit requires a full renovation—ideal for investors or owner-occupants looking for a value-add project—while the second unit is in good, livable condition and can generate income right away. The building is older but structurally sound, giving you a strong foundation for upgrades. Not located in a flood zone, helping keep insurance costs down. A rare investment opportunity in a high-demand location with excellent proximity to schools, parks, shopping, and major shore routes.

18. 2025-12-29
    listed $375,000 Active
19. 2024-03-07
    soldstatus $175,000 Sold 225-char remark

    Show marketing remark (225 chars)

    This is a legal duplex per the City of Linwood. Last registered March 2022. The main house has 3 bedrooms and 1 bath. The garage has 2 bedrooms, 1 bath and a small kitchen. There are no interior photos available at this time.

20. 2024-02-16
    historical Under Contract 225-char remark

    Show marketing remark (225 chars)

    This is a legal duplex per the City of Linwood. Last registered March 2022. The main house has 3 bedrooms and 1 bath. The garage has 2 bedrooms, 1 bath and a small kitchen. There are no interior photos available at this time.

21. 2024-01-09
    listed $230,000 Active 225-char remark

    Show marketing remark (225 chars)

    This is a legal duplex per the City of Linwood. Last registered March 2022. The main house has 3 bedrooms and 1 bath. The garage has 2 bedrooms, 1 bath and a small kitchen. There are no interior photos available at this time.

ⓘ 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: $46,116
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,689
• − Management: −$3,689
• − Depreciation: −$9,455
• Taxable income: $4,578
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $8,381/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: Somers Point School District
• NCES district ID: 3415030
• Math proficiency: 9% ▼ -21.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $50,191
• Composite: 18.66/100
• National rank: #8889
• State rank: #423 of 472 in NJ

Livability — Somers Point

• Score: 68/100
• State rank: #314
• US rank: #9650

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Somers Point, NJ
• City population: 10,611
• Population (ZIP): 6,954

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 (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 6% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 7% Scotch-Irish 6% Italian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -275.39%
• Current HPI: 280.1544
• 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

+41.3% since first listed

7 events — show timeline

• 2026-02-18 Price Changed $325,000 SJSRMLS
• 2026-02-17 Price Changed $325,000 BRIGHT MLS
• 2026-01-02 Listed $375,000 SJSRMLS
• 2025-12-29 Listed $375,000 BRIGHT MLS
• 2024-03-07 Sold (MLS) $175,000 SJSRMLS
• 2024-02-16 Contingent — SJSRMLS
• 2024-01-09 Listed $230,000 SJSRMLS