400 N Clermont Ave · Margate City, NJ 08402

$2,472,500

5 bd · 4.5 ba · 2,800 sqft · Land · 30 Days on market

Built 2027

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.0/30.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• 1% rule +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovate, tear down. Build your Margate dream home on this oversize lot or build two new homes on this bi-right sub-dividable lot, S-25 Zoning. 200ft Study with Survey available.

Key facts

• Outdoor living area
• New construction
• Oversized bonus room

Tags

• NEW CONSTRUCTION
• CORNER PROPERTY
• FOUR-STOP ELEVATOR
• OVERSIZED BONUS ROOM
• EXPANSIVE BACKYARD RETREAT
• OUTDOOR LIVING AREA

Property features AI

Finance

• Other: Details not provided
• Financial info: Details not provided
• HOA & community: Details not provided

Exterior

• Parking: Exterior parking for three or more cars; Attached 2-car garage with automatic door opener; Concrete driveway
• Security: Screens
• Utilities: Public water; Public sewer; Tankless gas water heater
• Home design: New construction; For sale; Corner lot
• Construction: Details not provided
• Exterior features: Deck; Patio; Fenced yard; In-ground pool; Sprinkler system; Enclosed outdoor shower

Interior

• Kitchen: Disposal; Dishwasher; Gas stove; Microwave; Refrigerator; Self-cleaning oven
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 4 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Ceiling fans; Multi-zoned A/C; Natural gas heating
• Interior features: Elevator; Kitchen center island; Storage space; Smoke and fire alarms; Walk-in closet; Built-in fireplace in living room
• Laundry & utility: Washer; Dryer; Laundry/utility room; Pantry; Attic storage

What this means for you Summary

Snapshot

• This is a 5-bed/4.5-bath land listed at $2.47M.

Deal economics

• At list price, monthly cash flow is $-4k ($-48k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.76M (28.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.40M (43.3% below list).
• Recommended offer: $1.40M (43.3% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 7.4% in Margate City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 75/100 on livability (#149 in NJ, #3,893 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Margate City School District (suburban): math 50% / reading 58% proficiency, ranked #113 of 472 in NJ (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+8.9%/yr); 147 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• At $14,014/mo this rent would consume 138% of the median local household income ($122k/yr) (locally 23% 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 $17k of loan paydown is wiped out by about $74k 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 30 days — a 2% lower offer ($2.44M) 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 $1.16M; list at $2.47M implies a 113% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,401,442 (43.3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.57% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.21%
• DSCR: 0.72
• GRM: 14.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -23.8%
• Equity multiple: 0.16×
• Total profit: $-582,985
• Equity at exit: $368,658

10-year hold

• IRR: -10.1%
• Equity multiple: 0.27×
• Total profit: $-503,547
• Equity at exit: $213,777

Cash invested: $692,300 (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: 14.7×

Monthly cashflow live

• Estimated rent: $14,014 medium
• Mortgage (P&I): −$12,966
• Tax from tax record: −$658 /mo · $7,899/yr
• Insurance: −$1,030
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,943
• Net cashflow: $-4,010

Break-even live

Break-even rent $19,090

Max offer price $1,764,182

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: $618,125
• Closing costs: $74,175
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 N Douglas Ave Unit AUGUST Margate City, NJ	5.0	3.5	2312	$33,000	$14.27	21d	1	0.25mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	13d	1	0.25mi
107 N Douglas Ave Margate City, NJ	5.0	3.5	2312	$36,000	$15.57	43d	1	0.26mi
111 N Belmont Ave Margate City, NJ	5.0	3.5	3200	$35,000	$10.94	21d	1	0.28mi
6 Brunswick Ct Margate City, NJ	5.0	2.5	3770	$30,000	$7.96	13d	1	0.38mi
6 Brunswick Ct Margate City, NJ	5.0	2.5	3770	$38,000	$10.08	43d	1	0.38mi
7611 Ventnor Ave Margate City, NJ	6.0	4.0	2717	$34,000	$12.51	21d	1	0.45mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	13d	1	0.56mi
6 N Melbourne Ave Ventnor City, NJ	4.0	3.5	2028	$3,000	$1.48	43d	1	0.58mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	21d	1	0.62mi
7103 Ventnor Ave Ventnor City, NJ	4.0	3.0	2288	$5,500	$2.40	13d	1	0.62mi
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	43d	1	0.69mi
109 N Wissahickon Ave Unit B Ventnor City, NJ	4.0	3.5	2000	$25,000	$12.50	21d	1	0.69mi
204 N Union Ave Margate City, NJ	5.0	4.0	2393	$5,000	$2.09	43d	1	0.95mi
802 N Harvard Ave Ventnor City, NJ	6.0	4.0	4000	$38,000	$9.50	21d	1	1.08mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	21d	1	1.24mi
9411 Winchester Ave Margate City, NJ	5.0	3.5	2776	$11,500	$4.14	43d	1	1.27mi

Listing history 23 events

1. 2026-06-19
   days on market $2,472,500 Active 30 DOM
2. 2026-06-18
   days on market $2,472,500 Active 29 DOM
3. 2026-06-17
   days on market $2,472,500 Active 28 DOM
4. 2026-06-16
   days on market $2,472,500 Active 27 DOM
5. 2026-06-15
   days on market $2,472,500 Active 26 DOM
6. 2026-06-14
   days on market $2,472,500 Active 24 DOM
7. 2026-06-13
   days on market $2,472,500 Active 23 DOM
8. 2026-06-10
   days on market $2,472,500 Active 21 DOM
9. 2026-06-09
   days on market $2,472,500 Active 20 DOM
10. 2026-06-08
    days on market $2,472,500 Active 19 DOM
11. 2026-06-07
    days on market $2,472,500 Active 18 DOM
12. 2026-06-05
    days on market $2,472,500 Active 15 DOM
13. 2026-06-02
    days on market $2,472,500 Active 13 DOM
14. 2026-06-01
    days on market $2,472,500 Active 12 DOM
15. 2026-05-31
    days on market $2,472,500 Active 11 DOM
16. 2026-05-30
    days on market $2,472,500 Active 10 DOM
17. 2026-05-19
    listed $2,472,500 Active
18. 2025-11-19
    soldstatus $1,160,000
19. 2025-10-08
    soldstatus $1,160,000 Sold 178-char remark

    Show marketing remark (178 chars)

    Renovate, tear down. Build your Margate dream home on this oversize lot or build two new homes on this bi-right sub-dividable lot, S-25 Zoning. 200ft Study with Survey available.

20. 2025-08-29
    historical Under Contract 178-char remark

    Show marketing remark (178 chars)

    Renovate, tear down. Build your Margate dream home on this oversize lot or build two new homes on this bi-right sub-dividable lot, S-25 Zoning. 200ft Study with Survey available.

21. 2025-05-31
    price $1,350,000 178-char remark

    Show marketing remark (178 chars)

    Renovate, tear down. Build your Margate dream home on this oversize lot or build two new homes on this bi-right sub-dividable lot, S-25 Zoning. 200ft Study with Survey available.

22. 2025-03-19
    listed $1,400,000 Active 178-char remark

    Show marketing remark (178 chars)

    Renovate, tear down. Build your Margate dream home on this oversize lot or build two new homes on this bi-right sub-dividable lot, S-25 Zoning. 200ft Study with Survey available.

23. 1990-03-21
    soldstatus $180,000

ⓘ 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: $7,899 · $658/mo
• Projected year-2 tax: $34,732 · $2,894/mo
• Expected delta: +$26,833/yr (+$2,236/mo · 339.7%)

ⓘ 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: $168,173
• − Mortgage interest: −$138,498
• − Property taxes: −$7,899
• − Insurance: −$17,481
• − Repairs & maintenance: −$13,454
• − Management: −$13,454
• − Depreciation: −$71,927
• Taxable loss: −$94,540
• Est. tax savings @ 24.0%: +$22,690
• After-tax cash flow: $-25,426/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: Margate City School District
• NCES district ID: 3409690
• Math proficiency: 50% ▼ -26.00%
• Reading proficiency: 58% ▼ -28.00%
• Median HH income: $67,112
• Composite: 47.71/100
• National rank: #2241
• State rank: #113 of 472 in NJ

Livability — Margate City

• Score: 75/100
• State rank: #149
• US rank: #3893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Margate City, NJ
• County: Atlantic County · 143,611 people
• City population: 5,234
• 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

+1273.6% since first listed

7 events — show timeline

• 2026-05-19 Listed $2,472,500 SJSRMLS
• 2025-11-19 Sold (Public Records) $1,160,000 Public Records
• 2025-10-08 Sold (MLS) $1,160,000 SJSRMLS
• 2025-08-29 Contingent — SJSRMLS
• 2025-05-31 Price Changed $1,350,000 SJSRMLS
• 2025-03-19 Listed $1,400,000 SJSRMLS
• 1990-03-21 Sold (Public Records) $180,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $7,899 · +4.6% YoY. Source: county tax records.