401 W Bennett Ave Unit C · Wildwood, NJ 08260

$475,000

2 bd · 1.5 ba · 1,214 sqft · Condo public records · 20 Days on market

Built 1991

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here it is ! Do NOT let this be "the one that got away. .. !" GORGEOUS sprawling unit with oversized living space and deck. .. situated in the beautiful Marina District of Wildwood! Just a hop and skip to Schooner. .. restaurants too. .. location, Location, LOCATION! This unit has been completely remodeled from top to bottom and is turn-key! Never Rented. .. has been in the same family since it was built. The amazing kitchen and phenomenal space for entertaining is tremendous. .. from the huge living room to the extraordinary composite deck. .. just bring the fancy lil' umbrellas for the festivities! Home boasts 2 generously sized bedrooms that could easily be made into 3 ! A full-size laundry and half bath that can easily be converted to add a shower, making it 2 full baths. (Note- other units in building are 3br/2ba 1214 sf) Plenty of closet spaces, 2 storage units, 2 assigned parking spaces. .. the list keeps going. Nothing needed here except your bathing suits ! Don't wait, Don't hesitate. .. or it WILL be too late !

Key facts

• Completely remodeled
• 2 storage units
• Full-size laundry

Tags

• OVERSIZED LIVING SPACE
• COMPLETELY REMODELED
• EXTRAORDINARY COMPOSITE DECK
• FULL-SIZE LAUNDRY
• 2 STORAGE UNITS
• 2 ASSIGNED PARKING SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $475k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $475k).
• Recommended offer: $468k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 5.6% in 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 74/100 on livability (#176 in NJ, #4,679 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, schools F, crime F.
• Wildwood City School District (suburban): math 12% / reading 27% proficiency, ranked #442 of 472 in NJ (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 431 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $14k 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 $133k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Recommended offer $467,875 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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. 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: 1.57% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.29%
• DSCR: 1.99
• GRM: 5.3

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: 15.1%
• Equity multiple: 1.61×
• Total profit: $80,605
• Equity at exit: $70,824

10-year hold

• IRR: 23.8%
• Equity multiple: 3.06×
• Total profit: $273,650
• Equity at exit: $41,069

Cash invested: $133,000 (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 08260

• Home prices YoY: -30.7%
• Active inventory: 431
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $7,464 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$487 /mo · $5,838/yr
• Insurance: −$198
• HOA est. from 1 same-building comp: −$250
• Vacancy / Maint / Mgmt: −$1,567
• Net cashflow: $2,471

Break-even live

Break-even rent $4,336

Max offer price $475,000

Occupancy floor 62%

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	43d	1	0.39mi
206 W Spencer Ave Wildwood, NJ	2.0	1.0	750	$2,000	$2.67	44d	1	0.57mi
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	43d	1	0.63mi
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	43d	1	0.79mi

HOA detail condo

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

Listing history 10 events

1. 2026-05-15
   soldstatus $480,000 Closed 1046-char remark

   Show marketing remark (1046 chars)

   Here it is ! Do NOT let this be "the one that got away. .. !" GORGEOUS sprawling unit with oversized living space and deck. .. situated in the beautiful Marina District of Wildwood! Just a hop and skip to Schooner. .. restaurants too. .. location, Location, LOCATION! This unit has been completely remodeled from top to bottom and is turn-key! Never Rented. .. has been in the same family since it was built. The amazing kitchen and phenomenal space for entertaining is tremendous. .. from the huge living room to the extraordinary composite deck. .. just bring the fancy lil' umbrellas for the festivities! Home boasts 2 generously sized bedrooms that could easily be made into 3 ! A full-size laundry and half bath that can easily be converted to add a shower, making it 2 full baths. (Note- other units in building are 3br/2ba 1214 sf) Plenty of closet spaces, 2 storage units, 2 assigned parking spaces. .. the list keeps going. Nothing needed here except your bathing suits ! Don't wait, Don't hesitate. .. or it WILL be too late !

2. 2026-03-24
   status Under Contract

   Show marketing remark (1046 chars)

   Here it is ! Do NOT let this be "the one that got away. .. !" GORGEOUS sprawling unit with oversized living space and deck. .. situated in the beautiful Marina District of Wildwood! Just a hop and skip to Schooner. .. restaurants too. .. location, Location, LOCATION! This unit has been completely remodeled from top to bottom and is turn-key! Never Rented. .. has been in the same family since it was built. The amazing kitchen and phenomenal space for entertaining is tremendous. .. from the huge living room to the extraordinary composite deck. .. just bring the fancy lil' umbrellas for the festivities! Home boasts 2 generously sized bedrooms that could easily be made into 3 ! A full-size laundry and half bath that can easily be converted to add a shower, making it 2 full baths. (Note- other units in building are 3br/2ba 1214 sf) Plenty of closet spaces, 2 storage units, 2 assigned parking spaces. .. the list keeps going. Nothing needed here except your bathing suits ! Don't wait, Don't hesitate. .. or it WILL be too late !

3. 2026-03-24
   status Pending 1046-char remark

   Show marketing remark (1046 chars)

   Here it is ! Do NOT let this be "the one that got away. .. !" GORGEOUS sprawling unit with oversized living space and deck. .. situated in the beautiful Marina District of Wildwood! Just a hop and skip to Schooner. .. restaurants too. .. location, Location, LOCATION! This unit has been completely remodeled from top to bottom and is turn-key! Never Rented. .. has been in the same family since it was built. The amazing kitchen and phenomenal space for entertaining is tremendous. .. from the huge living room to the extraordinary composite deck. .. just bring the fancy lil' umbrellas for the festivities! Home boasts 2 generously sized bedrooms that could easily be made into 3 ! A full-size laundry and half bath that can easily be converted to add a shower, making it 2 full baths. (Note- other units in building are 3br/2ba 1214 sf) Plenty of closet spaces, 2 storage units, 2 assigned parking spaces. .. the list keeps going. Nothing needed here except your bathing suits ! Don't wait, Don't hesitate. .. or it WILL be too late !

4. 2026-03-04
   listed $475,000 Active 1046-char remark

   Show marketing remark (1046 chars)

   Here it is ! Do NOT let this be "the one that got away. .. !" GORGEOUS sprawling unit with oversized living space and deck. .. situated in the beautiful Marina District of Wildwood! Just a hop and skip to Schooner. .. restaurants too. .. location, Location, LOCATION! This unit has been completely remodeled from top to bottom and is turn-key! Never Rented. .. has been in the same family since it was built. The amazing kitchen and phenomenal space for entertaining is tremendous. .. from the huge living room to the extraordinary composite deck. .. just bring the fancy lil' umbrellas for the festivities! Home boasts 2 generously sized bedrooms that could easily be made into 3 ! A full-size laundry and half bath that can easily be converted to add a shower, making it 2 full baths. (Note- other units in building are 3br/2ba 1214 sf) Plenty of closet spaces, 2 storage units, 2 assigned parking spaces. .. the list keeps going. Nothing needed here except your bathing suits ! Don't wait, Don't hesitate. .. or it WILL be too late !

5. 2026-03-04
   listed $475,000 Active

   Show marketing remark (1046 chars)

   Here it is ! Do NOT let this be "the one that got away. .. !" GORGEOUS sprawling unit with oversized living space and deck. .. situated in the beautiful Marina District of Wildwood! Just a hop and skip to Schooner. .. restaurants too. .. location, Location, LOCATION! This unit has been completely remodeled from top to bottom and is turn-key! Never Rented. .. has been in the same family since it was built. The amazing kitchen and phenomenal space for entertaining is tremendous. .. from the huge living room to the extraordinary composite deck. .. just bring the fancy lil' umbrellas for the festivities! Home boasts 2 generously sized bedrooms that could easily be made into 3 ! A full-size laundry and half bath that can easily be converted to add a shower, making it 2 full baths. (Note- other units in building are 3br/2ba 1214 sf) Plenty of closet spaces, 2 storage units, 2 assigned parking spaces. .. the list keeps going. Nothing needed here except your bathing suits ! Don't wait, Don't hesitate. .. or it WILL be too late !

6. 2022-08-29
   historical
7. 2022-08-29
   historical
8. 2022-08-27
   listed $395,000 Active
9. 2022-08-27
   listed $395,000 Active
10. 1991-12-02
    soldstatus $78,900

ⓘ 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: $5,838 · $487/mo
• Projected year-2 tax: $8,833 · $736/mo
• Expected delta: +$2,995/yr (+$250/mo · 51.3%)

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

Taxation est. · year 1

• Rental income: $89,564
• − Mortgage interest: −$26,607
• − Property taxes: −$5,838
• − Insurance: −$2,375
• − Repairs & maintenance: −$7,165
• − Management: −$7,165
• − HOA: −$3,000
• − Depreciation: −$13,818
• Taxable income: $23,595
• Est. tax owed @ 24.0%: −$5,663
• After-tax cash flow: $23,988/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 City School District
• NCES district ID: 3417940
• Math proficiency: 12% ▼ -6.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $33,232
• Composite: 15.84/100
• National rank: #9261
• State rank: #442 of 472 in NJ

Livability — Wildwood

• Score: 74/100
• State rank: #176
• US rank: #4679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: 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

+508.4% since first listed

10 events — show timeline

• 2026-05-15 Sold (MLS) $480,000 BRIGHT MLS
• 2026-03-24 Pending — CMCMLS
• 2026-03-24 Pending — BRIGHT MLS
• 2026-03-04 Listed $475,000 CMCMLS
• 2026-03-04 Listed $475,000 BRIGHT MLS
• 2022-08-29 Listing Removed — SJSRMLS
• 2022-08-29 Listing Removed — BRIGHT MLS
• 2022-08-27 Listed $395,000 SJSRMLS
• 2022-08-27 Listed $395,000 BRIGHT MLS
• 1991-12-02 Sold (Public Records) $78,900 Public Records

Property tax history

+2.9%/yr

Latest (2025): $5,838 · +2.8% YoY. Source: county tax records.