129 N Oxford Ave

Ventnor City, NJ 08406

$590,000C+

4 bd · 2.0 ba · 1,902 sqft · Built 1929 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,854/mo
• Mortgage (P&I): −$3,094
• Tax + insurance: −$1,158
• HOA: −$0
• Vac / Maint / Mgmt: −$1,229
• Net cashflow: $373/mo
• Annual: $4,471/yr
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• 1% rule: 0.99%
• Cash to close: $165,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $590k.
• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $585k (0.8% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $585k (0.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#202 in NJ) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-, crime B+; Watch: amenities F, cost of living F.
• Ventnor City School District (suburban): math 27% / reading 49% proficiency, ranked #266 of 472 in NJ (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ventnor Elementary School (math 27% / reading 42%, grade F, #582 of 1,303 statewide, top 49%, 304 students, 47% FRL); Ventnor Middle School (math 28% / reading 52%, grade F, #197 of 431 statewide, top 46%, 204 students, 62% FRL) — zoned schools at 54% FRL track the district average.
• Watch-outs: flood insurance adds $427/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+57.3%/yr); 160 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• Atlantic County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 10 sale attempts since 13y 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $165k cash investment doubles in ~10 years — after that, you're playing with house money.
• 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.
• Cap rate 7.9% vs local median 4.1% in Ventnor 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.
• At $5,854/mo this rent would consume 102% of the median local household income ($69k/yr) (locally 329% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.