28 N Washington Ave · Margate City, NJ 08402

$1,200,000

4 bd · 3.5 ba · 2,235 sqft · Townhouse · 57 Days on market

Built 1984 $537/sqft · at area comps Est $1165k · at est.

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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 +21.7/30.0
• DSCR +6.9/10.0
• ARV discount +6.2/15.0
• 1% rule +5.7/10.0
• Schools +4.8/10.0
• Rent growth +4.7/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom 2.5 Bath Fee Simple Townhouse= No Condo Fees! Spacious 3 Story Living In The Heart Of Margate. Easy Walking Distance To Dining, Night Life, Beach, Bay, Ventnor Ave, Marina, And So Much More. .. Features Include, New Kitchen Flooring, New Air Conditioning System, New Storm Door, Large Exterior Deck, Off Street Parking For 4+ Cars, Recently Renovated 1st Floor, Laundry Room, Outside Shower, And Brick Fireplace. Additional Space Can Be Used As A Den, Office, Or Converted Into A 4th Bedroom. Also, Has The Potential For An Additional Full Bath. Provides Plenty Of Storage Space. Great For A 2nd Home, Summer Rental Income, Or A Primary Residence.

Key facts

• Ground-level patio
• Spacious deck
• Outdoor shower

Tags

• RENOVATED TOWNHOME
• OFF-STREET PARKING SPACES
• SPACIOUS DECK
• GROUND-LEVEL PATIO
• OUTDOOR SHOWER
• PRIVATE PRIMARY SUITE

Property features AI

Exterior

• Parking: Parking pad for three or more cars; No garage
• Utilities: Public water; Public sewer; Gas water heater
• Home design: For sale; Corner lot
• Construction: Brick and vinyl exterior; Crawl space
• Exterior features: Porch; Outside shower; Curbs; Concrete driveway; Combination storm windows/screens

Interior

• Kitchen: Electric stove; Self-cleaning oven; Dishwasher; Disposal; Refrigerator; Eat-in kitchen
• Bedrooms: One bedroom on the lower level; Three bedrooms on the upper level
• Flooring: Tile; Vinyl; Wall-to-wall carpet
• Bathrooms: Three full bathrooms; One half bathroom; One full bath on the lower level; Two full baths on the upper level; Powder room on the main level
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Carbon monoxide detector; Smoke/fire alarm; Storage; Walk-in closet; Built-in fireplace in family room; Dining area; Eat-in kitchen; Recreation/Family room
• Laundry & utility: Washer; Dryer; Utility room on the lower level

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath townhouse listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.20M).
• Recommended offer: $1.16M (3.0% below list) — sets the bar for market timing.

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; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 672 units permitted in Atlantic County in 2024 (258 in 5+ unit buildings).
• At $12,820/mo this rent would consume 126% 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 $8k of loan paydown is wiped out by about $36k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $336k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $415k; list at $1.20M implies a 189% 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 $1,164,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $1,165,154
• List price: $1,200,000
• Delta: 2.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20B N Washington Ave	0.02mi	4/3.5	2,235 (0%)	3mo	$960,000	$430	97
5 N Monroe Ave #A	0.20mi	4/3.5	2,332 (+4%)	11mo	$1,650,000	$708	74
112 N Monroe Ave #B	0.23mi	4/3.5	2,208 (-1%)	19mo	$1,400,000	$634	72
9614 Winchester Ave #A	0.16mi	4/3.5	2,400 (+7%)	21mo	$1,675,000	$698	62
214 N Decatur Ave #B	0.18mi	4/3.0	2,025 (-9%)	18mo	$999,900	$494	59
104 S Monroe Ave	0.30mi	3/3.0 (-1)	2,004 (-10%)	4mo	$1,350,000	$674	58
25 S Adams Ave #1	0.19mi	3/3.0 (-1)	2,000 (-10%)	18mo	$975,000	$488	52
118 N Monroe Ave #A	0.23mi	3/2.5 (-1)	1,980 (-11%)	13mo	$1,149,999	$581	50
9100 Atlantic Ave	0.29mi	4/4.5	2,518 (+13%)	20mo	$1,790,000	$711	45
9614 Winchester INGROUND POOL Ave #B	0.71mi	4/3.5	2,400 (+7%)	19mo	$1,850,000	$771	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.89×
• Total profit: $-36,526
• Equity at exit: $178,924

10-year hold

• IRR: 12.0%
• Equity multiple: 2.17×
• Total profit: $393,941
• Equity at exit: $103,754

Cash invested: $336,000 (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: 7.8×

Monthly cashflow live

• Estimated rent: $12,820 medium
• Mortgage (P&I): −$6,293
• Tax est. 1.5%: −$1,500 /mo · $18,000/yr
• Insurance: −$500
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,692
• Net cashflow: $1,409

Break-even live

Break-even rent $11,037

Max offer price $1,200,000

Occupancy floor 84%

Sensitivity live

Price	-10% $2,238	-5% $1,823	+0% $1,409	+5% $994	+10% $579
Rent	-10% $396	-5% $902	+0% $1,409	+5% $1,915	+10% $2,421
Rate	-1.0pp $2,013	-0.5pp $1,714	base $1,409	+0.5pp $1,098	+1.0pp $781

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9411 Winchester Ave Margate City, NJ	5.0	3.5	2776	$11,500	$4.14	44d	1	0.08mi
16 S Decatur Ave Unit 9/15-10/31 Margate City, NJ	4.0	3.0	1732	$7,000	$4.04	44d	1	0.15mi
9406 Amherst Ave Margate City, NJ	4.0	4.0	2554	$47,000	$18.40	21d	1	0.22mi
204 N Union Ave Margate City, NJ	5.0	4.0	2393	$5,000	$2.09	44d	1	0.29mi
8606 Monmouth Ave Unit August 9/13 Margate City, NJ	4.0	3.5	2430	$20,000	$8.23	44d	1	0.53mi
2 N Frontenac Ave Margate City, NJ	3.0	2.5	1850	$17,000	$9.19	21d	1	0.97mi
8208 Lagoon Dr Margate City, NJ	4.0	2.5	2480	$18,000	$7.26	14d	1	1.06mi
200 N Essex Ave Margate City, NJ	4.0	3.0	1570	$15,000	$9.55	44d	1	1.08mi
106 S Essex Ave Margate City, NJ	5.0	3.0	2034	$9,500	$4.67	21d	1	1.09mi
307 N Essex Ave Margate City, NJ	4.0	2.0	1561	$1,800	$1.15	44d	1	1.12mi
107 N Douglas Ave Margate City, NJ	5.0	3.5	2312	$36,000	$15.57	44d	1	1.13mi
107 N Douglas Ave Unit AUGUST Margate City, NJ	5.0	3.5	2312	$33,000	$14.27	21d	1	1.13mi
7701 Atlantic Ave Margate City, NJ	1.0–3.0	2.0–3.0	1660	$75,000	$45.18	44d	4	1.16mi
119 N Belmont Ave Unit June 2026 Margate City, NJ	4.0	2.5	2044	$10,000	$4.89	14d	1	1.32mi

Listing history 26 events

1. 2026-06-19
   days on market $1,200,000 Under Contract 57 DOM
2. 2026-06-18
   days on market $1,200,000 Under Contract 56 DOM
3. 2026-06-17
   days on market $1,200,000 Under Contract 55 DOM
4. 2026-06-16
   days on market $1,200,000 Under Contract 54 DOM
5. 2026-06-15
   days on market $1,200,000 Under Contract 53 DOM
6. 2026-06-14
   days on market $1,200,000 Under Contract 51 DOM
7. 2026-06-13
   statusdays on market $1,200,000 Under Contract 50 DOM
8. 2026-06-10
   days on market $1,200,000 Active 48 DOM
9. 2026-06-09
   days on market $1,200,000 Active 47 DOM
10. 2026-06-08
    days on market $1,200,000 Active 46 DOM
11. 2026-06-07
    days on market $1,200,000 Active 45 DOM
12. 2026-06-05
    days on market $1,200,000 Active 42 DOM
13. 2026-06-02
    days on market $1,200,000 Active 40 DOM
14. 2026-06-01
    days on market $1,200,000 Active 39 DOM
15. 2026-05-31
    days on market $1,200,000 Active 38 DOM
16. 2026-05-30
    days on market $1,200,000 Active 37 DOM
17. 2026-05-08
    historical Under Contract 1581-char remark
18. 2026-04-23
    listed $1,200,000 Active 1581-char remark
19. 2017-09-15
    soldstatus $415,000 Sold 657-char remark

    Show marketing remark (657 chars)

    3 Bedroom 2.5 Bath Fee Simple Townhouse= No Condo Fees! Spacious 3 Story Living In The Heart Of Margate. Easy Walking Distance To Dining, Night Life, Beach, Bay, Ventnor Ave, Marina, And So Much More. .. Features Include, New Kitchen Flooring, New Air Conditioning System, New Storm Door, Large Exterior Deck, Off Street Parking For 4+ Cars, Recently Renovated 1st Floor, Laundry Room, Outside Shower, And Brick Fireplace. Additional Space Can Be Used As A Den, Office, Or Converted Into A 4th Bedroom. Also, Has The Potential For An Additional Full Bath. Provides Plenty Of Storage Space. Great For A 2nd Home, Summer Rental Income, Or A Primary Residence.

20. 2017-06-29
    historical Under Contract 657-char remark

    Show marketing remark (657 chars)

    3 Bedroom 2.5 Bath Fee Simple Townhouse= No Condo Fees! Spacious 3 Story Living In The Heart Of Margate. Easy Walking Distance To Dining, Night Life, Beach, Bay, Ventnor Ave, Marina, And So Much More. .. Features Include, New Kitchen Flooring, New Air Conditioning System, New Storm Door, Large Exterior Deck, Off Street Parking For 4+ Cars, Recently Renovated 1st Floor, Laundry Room, Outside Shower, And Brick Fireplace. Additional Space Can Be Used As A Den, Office, Or Converted Into A 4th Bedroom. Also, Has The Potential For An Additional Full Bath. Provides Plenty Of Storage Space. Great For A 2nd Home, Summer Rental Income, Or A Primary Residence.

21. 2017-06-08
    price $429,000 657-char remark

    Show marketing remark (657 chars)

    3 Bedroom 2.5 Bath Fee Simple Townhouse= No Condo Fees! Spacious 3 Story Living In The Heart Of Margate. Easy Walking Distance To Dining, Night Life, Beach, Bay, Ventnor Ave, Marina, And So Much More. .. Features Include, New Kitchen Flooring, New Air Conditioning System, New Storm Door, Large Exterior Deck, Off Street Parking For 4+ Cars, Recently Renovated 1st Floor, Laundry Room, Outside Shower, And Brick Fireplace. Additional Space Can Be Used As A Den, Office, Or Converted Into A 4th Bedroom. Also, Has The Potential For An Additional Full Bath. Provides Plenty Of Storage Space. Great For A 2nd Home, Summer Rental Income, Or A Primary Residence.

22. 2017-01-19
    price $429,900 657-char remark

    Show marketing remark (657 chars)

    3 Bedroom 2.5 Bath Fee Simple Townhouse= No Condo Fees! Spacious 3 Story Living In The Heart Of Margate. Easy Walking Distance To Dining, Night Life, Beach, Bay, Ventnor Ave, Marina, And So Much More. .. Features Include, New Kitchen Flooring, New Air Conditioning System, New Storm Door, Large Exterior Deck, Off Street Parking For 4+ Cars, Recently Renovated 1st Floor, Laundry Room, Outside Shower, And Brick Fireplace. Additional Space Can Be Used As A Den, Office, Or Converted Into A 4th Bedroom. Also, Has The Potential For An Additional Full Bath. Provides Plenty Of Storage Space. Great For A 2nd Home, Summer Rental Income, Or A Primary Residence.

23. 2016-10-11
    listed $440,000 Active 657-char remark

    Show marketing remark (657 chars)

    3 Bedroom 2.5 Bath Fee Simple Townhouse= No Condo Fees! Spacious 3 Story Living In The Heart Of Margate. Easy Walking Distance To Dining, Night Life, Beach, Bay, Ventnor Ave, Marina, And So Much More. .. Features Include, New Kitchen Flooring, New Air Conditioning System, New Storm Door, Large Exterior Deck, Off Street Parking For 4+ Cars, Recently Renovated 1st Floor, Laundry Room, Outside Shower, And Brick Fireplace. Additional Space Can Be Used As A Den, Office, Or Converted Into A 4th Bedroom. Also, Has The Potential For An Additional Full Bath. Provides Plenty Of Storage Space. Great For A 2nd Home, Summer Rental Income, Or A Primary Residence.

24. 2002-10-25
    soldstatus $261,000

    Show marketing remark (264 chars)

    Location, Space & Easy Living! Walk to Beach, Bay & Shopping! Great Open Layout in this Spacious townhouse! Wood burning fireplace, Large Master suite, Converted garage is rec-room, deck over looking courtyard. End unit=extra parking! Be in for summer!

25. 2002-09-25
    historical

    Show marketing remark (264 chars)

    Location, Space & Easy Living! Walk to Beach, Bay & Shopping! Great Open Layout in this Spacious townhouse! Wood burning fireplace, Large Master suite, Converted garage is rec-room, deck over looking courtyard. End unit=extra parking! Be in for summer!

26. 2002-04-14
    listed $269,000

    Show marketing remark (264 chars)

    Location, Space & Easy Living! Walk to Beach, Bay & Shopping! Great Open Layout in this Spacious townhouse! Wood burning fireplace, Large Master suite, Converted garage is rec-room, deck over looking courtyard. End unit=extra parking! Be in for summer!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $153,845
• − Mortgage interest: −$67,219
• − Property taxes: −$18,000
• − Insurance: −$11,118
• − Repairs & maintenance: −$12,308
• − Management: −$12,308
• − Depreciation: −$34,909
• Taxable loss: −$2,017
• Est. tax savings @ 24.0%: +$484
• After-tax cash flow: $17,388/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

+346.1% since first listed

12 events — show timeline

• 2026-06-12 Contingent — SJSRMLS
• 2026-05-28 Relisted — SJSRMLS
• 2026-05-08 Contingent — SJSRMLS
• 2026-04-23 Listed $1,200,000 SJSRMLS
• 2017-09-15 Sold (MLS) $415,000 SJSRMLS
• 2017-06-29 Contingent — SJSRMLS
• 2017-06-08 Price Changed $429,000 SJSRMLS
• 2017-01-19 Price Changed $429,900 SJSRMLS
• 2016-10-11 Listed $440,000 SJSRMLS
• 2002-10-25 Sold (MLS) $261,000 SJSRMLS
• 2002-09-25 Listing Removed — SJSRMLS
• 2002-04-14 Listed $269,000 SJSRMLS