7010 Seaview Ave #18 · Wildwood Crest, NJ 08260

$389,900

2 bd · 1.0 ba · 544 sqft · Condo public records · 127 Days on market

Built 1960

---

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 +28.0/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Year-Round, Top-Floor Residence at The Topaz Condominiums is Ready for You. .. Furnished, Equipped, and Move-In Ready! Unit #18 Consists of a Living Area with a Queen Sleeper Sofa, Kitchenette, Cafe/Dining Area, 2 Spacious Bedrooms, 1 Full Bathroom, and is Outfitted with a New (2025) Combo Air Conditioner/Heat Pump Unit. .. and Overlooks the Swimming Pool Area. Common Amenities include Heated Saltwater Swimming Pool, Shared Laundry Room (free) & Storage Space in a Shared Common Room. Condo Fee Includes: Fire, Flood, & Liability Insurances, Cable/Internet, Water/Sewer for Units & Association, and Reserves. This is NOT a condo-tel. Easy to See so Set Your Appointment TODAY!

Key facts

• Move in ready
• Top floor residence
• Parking

Tags

• TOP FLOOR RESIDENCE
• MOVE IN READY
• NEW COMBO AIR CONDITIONER
• OVERLOOKS THE SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $390k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $390k).
• Recommended offer: $343k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: 437 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

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• 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 $109k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($343k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $390k implies a 160% gain — meaningful room to come down on a strong offer.

Recommended offer $343,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.17% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 7.1

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: 3.3%
• Equity multiple: 1.13×
• Total profit: $13,816
• Equity at exit: $58,135

10-year hold

• IRR: 12.8%
• Equity multiple: 2.02×
• Total profit: $110,854
• Equity at exit: $33,711

Cash invested: $109,172 (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

• Home prices YoY: -30.7%
• Active inventory: 437
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,563 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$187 /mo · $2,243/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$958
• Net cashflow: $1,211

Break-even live

Break-even rent $3,030

Max offer price $389,900

Occupancy floor 68%

Sensitivity live

Price	-10% $1,431	-5% $1,321	+0% $1,211	+5% $1,100	+10% $990
Rent	-10% $850	-5% $1,030	+0% $1,211	+5% $1,391	+10% $1,571
Rate	-1.0pp $1,407	-0.5pp $1,310	base $1,211	+0.5pp $1,110	+1.0pp $1,007

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 W Heather Rd Unit 1309025P Wildwood Crest, NJ	2.0	1.0	699	$4,563	$6.53	44d	1	0.65mi

HOA detail condo

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

Listing history 6 events

1. 2026-05-13
   status Under Contract 704-char remark

   Show marketing remark (704 chars)

   This Year-Round, Top-Floor Residence at The Topaz Condominiums is Ready for You. .. Furnished, Equipped, and Move-In Ready! Unit #18 Consists of a Living Area with a Queen Sleeper Sofa, Kitchenette, Cafe/Dining Area, 2 Spacious Bedrooms, 1 Full Bathroom, and is Outfitted with a New (2025) Combo Air Conditioner/Heat Pump Unit. .. and Overlooks the Swimming Pool Area. Common Amenities include Heated Saltwater Swimming Pool, Shared Laundry Room (free) & Storage Space in a Shared Common Room. Condo Fee Includes: Fire, Flood, & Liability Insurances, Cable/Internet, Water/Sewer for Units & Association, and Reserves. This is NOT a condo-tel. Easy to See so Set Your Appointment TODAY!

2. 2026-04-15
   price $389,900 704-char remark

   Show marketing remark (704 chars)

   This Year-Round, Top-Floor Residence at The Topaz Condominiums is Ready for You. .. Furnished, Equipped, and Move-In Ready! Unit #18 Consists of a Living Area with a Queen Sleeper Sofa, Kitchenette, Cafe/Dining Area, 2 Spacious Bedrooms, 1 Full Bathroom, and is Outfitted with a New (2025) Combo Air Conditioner/Heat Pump Unit. .. and Overlooks the Swimming Pool Area. Common Amenities include Heated Saltwater Swimming Pool, Shared Laundry Room (free) & Storage Space in a Shared Common Room. Condo Fee Includes: Fire, Flood, & Liability Insurances, Cable/Internet, Water/Sewer for Units & Association, and Reserves. This is NOT a condo-tel. Easy to See so Set Your Appointment TODAY!

3. 2026-02-17
   price $399,900 704-char remark

   Show marketing remark (704 chars)

   This Year-Round, Top-Floor Residence at The Topaz Condominiums is Ready for You. .. Furnished, Equipped, and Move-In Ready! Unit #18 Consists of a Living Area with a Queen Sleeper Sofa, Kitchenette, Cafe/Dining Area, 2 Spacious Bedrooms, 1 Full Bathroom, and is Outfitted with a New (2025) Combo Air Conditioner/Heat Pump Unit. .. and Overlooks the Swimming Pool Area. Common Amenities include Heated Saltwater Swimming Pool, Shared Laundry Room (free) & Storage Space in a Shared Common Room. Condo Fee Includes: Fire, Flood, & Liability Insurances, Cable/Internet, Water/Sewer for Units & Association, and Reserves. This is NOT a condo-tel. Easy to See so Set Your Appointment TODAY!

4. 2026-01-06
   listed $409,900 Active 704-char remark

   Show marketing remark (704 chars)

   This Year-Round, Top-Floor Residence at The Topaz Condominiums is Ready for You. .. Furnished, Equipped, and Move-In Ready! Unit #18 Consists of a Living Area with a Queen Sleeper Sofa, Kitchenette, Cafe/Dining Area, 2 Spacious Bedrooms, 1 Full Bathroom, and is Outfitted with a New (2025) Combo Air Conditioner/Heat Pump Unit. .. and Overlooks the Swimming Pool Area. Common Amenities include Heated Saltwater Swimming Pool, Shared Laundry Room (free) & Storage Space in a Shared Common Room. Condo Fee Includes: Fire, Flood, & Liability Insurances, Cable/Internet, Water/Sewer for Units & Association, and Reserves. This is NOT a condo-tel. Easy to See so Set Your Appointment TODAY!

5. 2016-12-19
   soldstatus $150,000
6. 2015-10-18
   price $159,900

ⓘ 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: $2,243 · $187/mo
• Projected year-2 tax: $5,976 · $498/mo
• Expected delta: +$3,733/yr (+$311/mo · 166.4%)

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

Taxation est. · year 1

• Rental income: $54,756
• − Mortgage interest: −$21,840
• − Property taxes: −$2,243
• − Insurance: −$1,950
• − Repairs & maintenance: −$4,380
• − Management: −$4,380
• − Depreciation: −$11,343
• Taxable income: $8,620
• Est. tax owed @ 24.0%: −$2,069
• After-tax cash flow: $12,460/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 (ZIP): 12,913

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 14% Two or more races 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 12% Other Indo-European 3% French/Haitian/Cajun 1%

Political lean MEDSL · Cape May

• 2024 margin: R (+19.2) · D 39.7% · R 58.9% · Other 1.4%
• 2008→2024 swing: -10.6pp toward R · 2008: -8.7pp · 2024: -19.2pp
• All cycles: 2024: R+19.2 2020: R+15.9 2016: R+19.9 2012: R+8.9 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.83%
• Current HPI: 551.3393
• 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

+143.8% since first listed

6 events — show timeline

• 2026-05-13 Pending — CMCMLS
• 2026-04-15 Price Changed $389,900 CMCMLS
• 2026-02-17 Price Changed $399,900 CMCMLS
• 2026-01-06 Listed $409,900 CMCMLS
• 2016-12-19 Sold (Public Records) $150,000 Public Records
• 2015-10-18 Price Changed $159,900 CMCMLS

Property tax history

+2.1%/yr

Latest (2025): $2,243 · +1.4% YoY. Source: county tax records.