719 E 11th St #410 · Ocean City, NJ 08226

$319,900

1 bd · 1.0 ba · 580 sqft · Condo public records · 177 Days on market

Built 1925 Fair condition $552/sqft · 16% below area Est $383k · 16% under $656/mo HOA · 10% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +14.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully maintained 1-bedroom, 1-bath condo located on the iconic Ocean City, NJ boardwalk. Just steps from the sand and surf, this prime location offers immediate access to everything Ocean City has to offer. This inviting unit features a bright, open layout perfect for relaxing getaways. Whether you're looking for a personal beach retreat or a smart investment opportunity, this condo delivers — boasting a fantastic rental history with strong income potential. Enjoy access to outstanding resort-style amenities, including a heated pool, fully equipped fitness center, on-site restaurant, gift shop, banquet center, coffee shop and luxurious salon and spa. With professional management and unparalleled convenience, everything you need is right at your fingertips. The FLANDERS Condominium Hotel is perhaps the best known, best run "condo-tel" in all of Ocean City. This beautiful boardwalk fronted building is steeped in tradition. It has been a part of the Ocean City skyline for over 100 years. She offers all the conveniences of Hotel Living with daily check-ins via the front desk, daily maid & linen service and concierge service. All rentals must go through the Flanders on-site rental program, no outside rentals permitted. Year-round residency is not permitted at The Flanders. City Ordinance restricts owner usage to 200 nights (no more than 120 consecutive nights) per year. If participating in the rental program, owner usage from mid-June through Labor Day is limited to 14 nights plus an additional 186 nights throughout the remainder of the year. If not participating in the rental program owners can stay any 200 nights (no more than 120 consecutive nights) per year. Working Capital Buy-In fee of $1250.00 due from buyer at closing. See Associated Docs for Seller Property Disclosure, Lead Based Paint Disclosure, income and expense reports.

Key facts

• Gift shop
• On-site restaurant
• Heated pool

Tags

• IMMEDIATE ACCESS TO BEACH
• RESORT-STYLE AMENITIES
• HEATED POOL
• FULLY EQUIPPED FITNESS CENTER
• ON-SITE RESTAURANT
• GIFT SHOP

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $320k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $320k).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 3.4% in Ocean City — 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 80/100 on livability (#72 in NJ, #1,762 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, health & safety A+; Watch: housing D+, cost of living F.
• Ocean City School District (urban): math 31% / reading 53% proficiency, ranked #212 of 472 in NJ (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ocean City Primary School (math 54% / reading 42%, grade D, #299 of 1,303 statewide, top 23%, 280 students, 31% FRL); Ocean City Intermediate School (math 26% / reading 49%, grade F, #217 of 431 statewide, top 51%, 370 students, 27% FRL); Ocean City High School (math 33% / reading 63%, grade D, #117 of 399 statewide, top 30%, 1,215 students, 13% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: 514 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $2k of loan paydown is wiped out by about $10k 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 $90k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y ago 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 $213k; list at $320k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $281,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 2.13% ✓
• Cap rate: 16.50%
• Cash-on-cash: 36.46%
• DSCR: 2.62
• GRM: 3.9

CMA / ARV

• ARV (median comp): $382,876
• List price: $319,900
• Delta: -16.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1027 Ocean Ave #4	0.05mi	2/1.0 (+1)	564 (-3%)	3mo	$490,000	$869	85
1027 Ocean Ave #5	0.05mi	2/1.0 (+1)	546 (-6%)	2mo	$490,000	$897	81
831--35 Atlantic Ave #209	0.25mi	1/1.0	532 (-8%)	3mo	$325,000	$611	72
812-820 Ocean Ave #205	0.29mi	1/1.0	525 (-10%)	3mo	$315,000	$600	68
921 Wesley Ave Unit A24	0.19mi	1/1.0	700 (+21%)	2mo	$289,999	$414	65
820 Ocean Ave #205	0.28mi	1/1.5	516 (-11%)	3mo	$315,000	$610	64
901 Ocean Ave #405	0.18mi	1/1.0	715 (+23%)	3mo	$320,000	$448	64
322 Boardwalk #1510	0.88mi	1/1.0	567 (-2%)	3mo	$572,000	$1,009	59
1320 Ocean Ave #304	0.31mi	1/1.0	476 (-18%)	6mo	$415,000	$872	56
853-875 Plymouth Pl #10	0.42mi	1/1.0	448 (-23%)	2mo	$365,000	$815	54
875 Plymouth Pl #33	0.41mi	1/1.0	448 (-23%)	3mo	$400,000	$893	53
875 Plymouth Pl #35	0.41mi	1/1.0	448 (-23%)	5mo	$381,000	$850	52

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

Projected returns pro-forma

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

5-year hold

• IRR: 31.3%
• Equity multiple: 2.31×
• Total profit: $117,697
• Equity at exit: $47,698

10-year hold

• IRR: 38.5%
• Equity multiple: 4.59×
• Total profit: $321,949
• Equity at exit: $27,659

Cash invested: $89,572 (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 →

Active competition Active MLS

• For sale now: 2 active · 1 under contract
• Median asking: $417,000 ($746/sqft)
• Median days on market: 182 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -11.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 08226

• Active inventory: 514
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $6,807 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$189 /mo · $2,270/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$656
• Vacancy / Maint / Mgmt: −$1,430
• Net cashflow: $2,655

Break-even live

Break-even rent $3,446

Max offer price $319,900

Occupancy floor 56%

Sensitivity live

Price	-10% $2,836	-5% $2,746	+0% $2,655	+5% $2,565	+10% $2,474
Rent	-10% $2,118	-5% $2,386	+0% $2,655	+5% $2,924	+10% $3,193
Rate	-1.0pp $2,816	-0.5pp $2,737	base $2,655	+0.5pp $2,572	+1.0pp $2,488

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: $79,975
• Closing costs: $9,597
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
714 West Ave Unit 1308989P Ocean City, NJ	2.0	1.0	742	$6,384	$8.60	93d	1	0.52mi
200 Bay Ave Unit 200 Ocean City, NJ	1.0	1.0	425	$7,800	$18.35	70d	1	1.15mi

HOA detail $656/mo · $7,872/yr condo

• Likely covers: poolgymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $319,900 Active 177 DOM
2. 2026-08-07
   days on market $319,900 Active 176 DOM
3. 2026-08-06
   days on market $319,900 Active 175 DOM
4. 2026-08-05
   days on market $319,900 Active 174 DOM
5. 2026-08-04
   days on market $319,900 Active 173 DOM
6. 2026-08-03
   days on market $319,900 Active 172 DOM
7. 2026-07-31
   days on market $319,900 Active 169 DOM
8. 2026-07-29
   days on market $319,900 Active 167 DOM
9. 2026-07-27
   days on market $319,900 Active 165 DOM
10. 2026-07-25
    days on market $319,900 Active 163 DOM
11. 2026-07-24
    days on market $319,900 Active 162 DOM
12. 2026-07-23
    days on market $319,900 Active 161 DOM
13. 2026-07-22
    days on market $319,900 Active 160 DOM
14. 2026-07-21
    days on market $319,900 Active 159 DOM
15. 2026-07-20
    days on market $319,900 Active 158 DOM
16. 2026-07-18
    days on market $319,900 Active 156 DOM
17. 2026-07-16
    days on market $319,900 Active 154 DOM
18. 2026-07-15
    days on market $319,900 Active 153 DOM
19. 2026-07-14
    days on market $319,900 Active 152 DOM
20. 2026-07-13
    days on market $319,900 Active 151 DOM
21. 2026-07-12
    days on market $319,900 Active 150 DOM
22. 2026-07-12
    days on market $319,900 Active 149 DOM
23. 2026-07-10
    days on market $319,900 Active 148 DOM
24. 2026-07-09
    days on market $319,900 Active 147 DOM
25. 2026-07-07
    days on market $319,900 Active 145 DOM
26. 2026-07-06
    days on market $319,900 Active 144 DOM
27. 2026-07-05
    days on market $319,900 Active 143 DOM
28. 2026-07-05
    days on market $319,900 Active 142 DOM
29. 2026-07-03
    days on market $319,900 Active 141 DOM
30. 2026-07-02
    days on market $319,900 Active 140 DOM
31. 2026-07-01
    days on market $319,900 Active 139 DOM
32. 2026-06-30
    days on market $319,900 Active 138 DOM
33. 2026-06-29
    days on market $319,900 Active 137 DOM
34. 2026-06-28
    days on market $319,900 Active 136 DOM
35. 2026-06-27
    days on market $319,900 Active 135 DOM
36. 2026-06-26
    days on market $319,900 Active 134 DOM
37. 2026-06-22
    days on market $319,900 Active 130 DOM
38. 2026-06-21
    days on market $319,900 Active 129 DOM
39. 2026-06-21
    days on market $319,900 Active 128 DOM
40. 2026-06-18
    days on market $319,900 Active 126 DOM
41. 2026-06-17
    days on market $319,900 Active 125 DOM
42. 2026-06-16
    days on market $319,900 Active 124 DOM
43. 2026-06-15
    days on market $319,900 Active 123 DOM
44. 2026-06-13
    days on market $319,900 Active 121 DOM
45. 2026-06-12
    days on market $319,900 Active 120 DOM
46. 2026-06-09
    days on market $319,900 Active 117 DOM
47. 2026-06-08
    days on market $319,900 Active 116 DOM
48. 2026-06-07
    days on market $319,900 Active 115 DOM
49. 2026-06-07
    days on market $319,900 Active 114 DOM
50. 2026-06-04
    days on market $319,900 Active 111 DOM

ⓘ 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: $2,270 · $189/mo
• Projected year-2 tax: $5,118 · $426/mo
• Expected delta: +$2,848/yr (+$237/mo · 125.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 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: $81,688
• − Mortgage interest: −$17,919
• − Property taxes: −$2,270
• − Insurance: −$2,397
• − Repairs & maintenance: −$6,535
• − Management: −$6,535
• − HOA: −$7,872
• − Depreciation: −$9,306
• Taxable income: $28,854
• Est. tax owed @ 24.0%: −$6,925
• After-tax cash flow: $24,939/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.

Condition & rehab AI · 9 photos

Fair 45/100 Cosmetic rehab Est. rehab $2,900–$8,700 screening

This 1-bedroom, 1-bath condo is in fair condition with cosmetic repairs needed, particularly to the roof. Addressing these issues will significantly increase its value for both resale and rental.

Components & finishes AI

Roof tile

Repairs flagged

• Major roof — Significant damage and potential structural issues are visible in the satellite image.

Value-add opportunities

• Both repair roof leaks — Fixing roof leaks will improve the home's condition and prevent further damage, benefiting both resale and rental value. ↑
• Both paint exterior walls — Painting the exterior walls will improve the home's curb appeal and make it more attractive to potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 45/100

Zoned Schools

Elementary Ocean City Primary School D NJ #299/1,303 Nat'l #14,226/41,679 Middle Ocean City Intermediate School F NJ #217/431 Nat'l #6,708/14,009 High Ocean City High School D NJ #117/399 Nat'l #6,224/17,239

Schools (NCES district)

• District: Ocean City School District
• NCES district ID: 3411970
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $60,444
• Composite: 37.07/100
• National rank: #4506
• State rank: #212 of 472 in NJ

A Composite livability gradescore 80/100

Livability — Ocean City

• Score: 80/100
• State rank: #72
• US rank: #1762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, NJ
• County: Cape May · 88,234 people
• City population: 11,260
• Metro: Atlantic City-Hammonton, NJ
• Population (ZIP): 11,260
• Household income: $101,782
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Black 2% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 8% Russian/Polish/Slavic 2% Other Indo-European 2%

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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: ▼ -381.90%
• Current HPI: 389.3687
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

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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

+82.9% since first listed

23 events — show timeline

• 2026-04-19 Price Changed $319,900 SJSRMLS
• 2026-02-12 Listed $329,900 SJSRMLS
• 2019-08-22 Sold (Public Records) $213,000 Public Records
• 2019-08-09 Sold (MLS) $213,000 SJSRMLS
• 2019-07-11 Contingent — SJSRMLS
• 2019-06-29 Listed $214,900 SJSRMLS
• 2019-05-02 Listing Removed — SJSRMLS
• 2018-09-02 Price Changed $216,900 SJSRMLS
• 2018-08-01 Listing Removed — SJSRMLS
• 2018-08-01 Listed $224,900 SJSRMLS
• 2017-09-23 Price Changed $224,900 SJSRMLS
• 2017-09-22 Listed $249,900 SJSRMLS
• 2016-04-01 Listing Removed — SJSRMLS
• 2015-03-10 Listed $229,900 SJSRMLS
• 2005-08-12 Sold (Public Records) $285,000 Public Records
• 2005-07-28 Sold (MLS) $285,000 SJSRMLS
• 2005-06-25 Listing Removed — SJSRMLS
• 2005-04-29 Listed $289,900 SJSRMLS
• 2004-05-26 Sold (Public Records) $225,000 Public Records
• 2003-07-08 Sold (Public Records) $180,000 Public Records
• 2003-07-01 Sold (MLS) $180,000 SJSRMLS
• 2003-05-23 Listing Removed — SJSRMLS
• 2003-04-30 Listed $174,900 SJSRMLS

Property tax history

+2.5%/yr

Latest (2025): $2,270 · +3.4% YoY. Source: county tax records.