110 W 16th Ave · North Wildwood, NJ 08260

$578,777

9 bd · 3.6 ba · 1,584 sqft · SingleFamily public records · 5 Days on market

Built 1940

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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).

• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all builders and buyers seeking rehab-equity opportunities. This legal triplex is more than a handyman special and is ideal for someone looking to complete a full renovation or pursue a tear-down and rebuild. Please note: the third-floor unit contains extensive stored items and navigation is extremely limited. This multi-family property is being sold as-is. Seller will make no repairs or credits. Each unit offers strong potential for renovation or future rental income. Buyer is responsible for all inspections, certifications, and municipal requirements. An excellent opportunity for investors or owner-occupants seeking value and vision in North Wildwood.

Key facts

• Full renovation
• Legal triplex
• Future rental income

Tags

• LEGAL TRIPLEX
• FULL RENOVATION
• MULTI-FAMILY PROPERTY
• FUTURE RENTAL INCOME
• EXCELLENT OPPORTUNITY

Property features AI

Exterior

• Utilities: City water; City sewer; Gas hot water; Separate electric meters
• Home design: Multi-family property with multiple rentable units; Offered for sale
• Exterior features: Outside shower

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: Unit 1: 1 full bath and 1 half bath; Unit 2: 1 full bath; Unit 3: 1 full bath
• Heating & cooling: Natural gas heating; Wall air conditioning
• Interior features: Partially furnished

What this means for you Summary

Snapshot

• This is a 9-bed/3.6-bath single-family listed at $579k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $399k (31.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $386k (33.4% below list).
• Recommended offer: $386k (33.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.6% in North Wildwood — 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 (#318 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: amenities C-, crime D-, commute F.
• North Wildwood School District (suburban): math 55% / reading 45% proficiency, ranked #396 of 612 in NJ (top 65%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 437 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $17k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $579k implies a 623% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $385,507 (33.4% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.67% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.38%
• DSCR: 0.81
• GRM: 12.5

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: -29.4%
• Equity multiple: 0.02×
• Total profit: $-158,490
• Equity at exit: $86,298

10-year hold

• IRR: -29.9%
• Equity multiple: -0.36×
• Total profit: $-221,057
• Equity at exit: $50,042

Cash invested: $162,058 (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: 12.5×

Monthly cashflow live

• Estimated rent: $3,855 medium
• Mortgage (P&I): −$3,035
• Tax from tax record: −$360 /mo · $4,321/yr
• Insurance: −$241
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$810
• Net cashflow: $-1,017

Break-even live

Break-even rent $5,143

Max offer price $399,045

Occupancy floor —

Sensitivity live

Price	-10% $-690	-5% $-854	+0% $-1,017	+5% $-1,181	+10% $-1,345
Rent	-10% $-1,322	-5% $-1,170	+0% $-1,017	+5% $-865	+10% $-713
Rate	-1.0pp $-726	-0.5pp $-870	base $-1,017	+0.5pp $-1,167	+1.0pp $-1,320

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: $144,694
• Closing costs: $17,363
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   status $578,777 Under Contract 5 DOM
2. 2026-06-18
   days on market $578,777 Active 5 DOM
3. 2026-06-17
   days on market $578,777 Active 4 DOM
4. 2026-06-16
   days on market $578,777 Active 3 DOM
5. 2026-06-15
   days on market $578,777 Active 2 DOM
6. 2026-06-14
   remarks 669-char remark
7. 2026-06-14
   listed $578,777 Active 1 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: $4,321 · $360/mo
• Projected year-2 tax: $9,366 · $781/mo
• Expected delta: +$5,045/yr (+$420/mo · 116.8%)

ⓘ 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 3/10 Moderate
• 🌡 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: $46,261
• − Mortgage interest: −$32,421
• − Property taxes: −$4,321
• − Insurance: −$8,012
• − Repairs & maintenance: −$3,701
• − Management: −$3,701
• − Depreciation: −$16,837
• Taxable loss: −$22,732
• Est. tax savings @ 24.0%: +$5,456
• After-tax cash flow: $-6,753/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: North Wildwood School District
• NCES district ID: 3411670
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $45,310
• Composite: 44.38/100
• National rank: #6123
• State rank: #396 of 612 in NJ

Livability — North Wildwood

• Score: 68/100
• State rank: #318
• US rank: #9827

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Wildwood, 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

+881.0% since first listed

3 events — show timeline

• 2026-06-13 Listed $578,777 CMCMLS
• 1992-06-08 Sold (Public Records) $80,000 Public Records
• 1984-05-07 Sold (Public Records) $59,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $4,321 · +2.1% YoY. Source: county tax records.