935 Ocean Ave #225 · Ocean City, NJ 08226

$549,000

1 bd · 1.0 ba · 778 sqft · Condo public records · 162 Days on market

Built 1977 $706/sqft · at area comps Est $575k · at est. $43/mo HOA · 1% of rent

---

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).

• ARV discount +9.5/15.0
• Cash flow +6.3/30.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counter space and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath, including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard, barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

Key facts

• Open concept kitchen
• Large island
• Granite counter tops

Tags

• OPEN CONCEPT KITCHEN
• WHITE SHAKER STYLE CABINETS
• GRANITE COUNTER TOPS
• TILED BACK-SPLASH
• LARGE ISLAND
• LUXURY VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $549k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (45.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $316k (42.5% below list).
• Recommended offer: $299k (45.5% below list) — sets the bar for cash-flow.
• Cap rate 4.1% vs local median 3.4% in Ocean City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: 426 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $16k 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

• It's been on market 162 days — a 12% lower offer ($483k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 26y ago; this cycle's ask is 5390% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $470k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $299,465 (45.5% 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. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — 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. 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?
11. 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.
12. 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.
13. 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: 0.58% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.70%
• DSCR: 0.66
• GRM: 14.5

CMA / ARV

• ARV (median comp): $575,187
• List price: $549,000
• Delta: -4.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -36.3%
• Equity multiple: -0.16×
• Total profit: $-178,811
• Equity at exit: $81,858

10-year hold

• IRR: -50.4%
• Equity multiple: -0.76×
• Total profit: $-271,073
• Equity at exit: $47,467

Cash invested: $153,720 (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 08226

• Active inventory: 426
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,159 medium
• Mortgage (P&I): −$2,879
• Tax from tax record: −$331 /mo · $3,970/yr
• Insurance: −$229
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$43
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $-1,413

Break-even live

Break-even rent $4,947

Max offer price $299,465

Occupancy floor —

Sensitivity live

Price	-10% $-1,102	-5% $-1,257	+0% $-1,413	+5% $-1,568	+10% $-1,723
Rent	-10% $-1,662	-5% $-1,537	+0% $-1,413	+5% $-1,288	+10% $-1,163
Rate	-1.0pp $-1,136	-0.5pp $-1,273	base $-1,413	+0.5pp $-1,555	+1.0pp $-1,700

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
935 Ocean Ave Ocean City, NJ	1.0–3.0	1.0–2.5	1112	$2,200	$1.98	44d	1	0.06mi
714 West Ave Unit 1308989P Ocean City, NJ	2.0	1.0	742	$6,384	$8.60	44d	1	0.46mi

HOA detail condo

• Monthly dues: $43 · $516/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $549,000 Active 162 DOM
2. 2026-06-18
   days on market $549,000 Active 160 DOM
3. 2026-06-17
   days on market $549,000 Active 159 DOM
4. 2026-06-16
   days on market $549,000 Active 158 DOM
5. 2026-06-15
   days on market $549,000 Active 157 DOM
6. 2026-06-13
   days on market $549,000 Active 155 DOM
7. 2026-06-12
   days on market $549,000 Active 154 DOM
8. 2026-06-09
   days on market $549,000 Active 151 DOM
9. 2026-06-08
   days on market $549,000 Active 150 DOM
10. 2026-06-07
    days on market $549,000 Active 149 DOM
11. 2026-06-07
    days on market $549,000 Active 148 DOM
12. 2026-06-04
    days on market $549,000 Active 145 DOM
13. 2026-06-02
    days on market $549,000 Active 144 DOM
14. 2026-06-01
    days on market $549,000 Active 143 DOM
15. 2026-05-31
    days on market $549,000 Active 142 DOM
16. 2026-04-28
    price $549,000 808-char remark

    Show marketing remark (808 chars)

    Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counter space and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath, including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard, barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

17. 2026-04-27
    price $549,000 830-char remark

    Show marketing remark (830 chars)

    Welcome to Ocean Colony! Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counterspace and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

18. 2026-04-27
    price $549,000

    Show marketing remark (830 chars)

    Welcome to Ocean Colony! Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counterspace and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

19. 2026-04-08
    historical $10,000
20. 2026-03-14
    listed $10,000
21. 2026-01-09
    price $559,000

    Show marketing remark (830 chars)

    Welcome to Ocean Colony! Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counterspace and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

22. 2026-01-09
    listed $559,900 Active 830-char remark

    Show marketing remark (830 chars)

    Welcome to Ocean Colony! Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counterspace and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

23. 2026-01-08
    listed $559,900 Active 808-char remark

    Show marketing remark (808 chars)

    Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counter space and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath, including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard, barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

24. 2026-01-08
    listed $559,900 Active

    Show marketing remark (808 chars)

    Discover beachside living at its finest with this beautifully updated condo in the heart of Ocean City! Renovations include a new open concept kitchen with white shaker style cabinets, granite counter tops, tiled back-splash, large island with lots of counter space and extra storage. Luxury vinyl plank flooring throughout kitchen, living area and bath. Gorgeous crown molding. All new bath, including large walk-in shower with ceramic tile walls and granite vanity top. Private balcony, storage locker and great parking space located just steps from the elevator entrance. Ocean Colony offers resort style amenities including heated pool, kiddie pool, basketball court, shuffleboard, barbecue area, fitness center with saunas, game room, community room and bike room. just steps to the beach and boardwalk!

25. 2026-01-06
    historical Withdrawn/Temp Off Market
26. 2026-01-06
    historical
27. 2026-01-06
    historical
28. 2025-10-21
    price $559,900
29. 2025-10-21
    price $559,900
30. 2025-10-21
    price $559,900
31. 2025-09-18
    price $564,900
32. 2025-09-17
    listed $564,900 Active
33. 2025-09-17
    listed $564,900,000 Active
34. 2025-09-17
    listed $564,900 Active
35. 2025-08-14
    historical $1,600
36. 2025-08-06
    listed $1,600
37. 2024-08-25
    historical $1,500
38. 2024-08-14
    listed $1,500
39. 2022-03-10
    soldstatus $469,900 Sold
40. 2022-03-10
    soldstatus $469,900
41. 2022-02-25
    historical Under Contract
42. 2022-02-17
    listed $469,900 Active
43. 2021-07-28
    soldstatus $425,000
44. 2021-07-06
    soldstatus $425,000 Sold
45. 2021-06-08
    historical Under Contract
46. 2021-06-05
    listed $429,900 Active
47. 2020-09-21
    soldstatus $259,000
48. 2020-08-04
    soldstatus $259,000 Sold
49. 2020-06-25
    historical Under Contract
50. 2020-04-02
    listed $269,900 Active

ⓘ 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: $3,970 · $331/mo
• Projected year-2 tax: $8,820 · $735/mo
• Expected delta: +$4,850/yr (+$404/mo · 122.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥98°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: $37,907
• − Mortgage interest: −$30,753
• − Property taxes: −$3,970
• − Insurance: −$7,864
• − Repairs & maintenance: −$3,033
• − Management: −$3,033
• − HOA: −$516
• − Depreciation: −$15,971
• Taxable loss: −$27,231
• Est. tax savings @ 24.0%: +$6,535
• After-tax cash flow: $-10,415/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: 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

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
• City population: 11,260
• Population (ZIP): 11,260

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 (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%

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

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

+545.9% since first listed

49 events — show timeline

• 2026-04-28 Price Changed $549,000 CMCMLS
• 2026-04-27 Price Changed $549,000 BRIGHT MLS
• 2026-04-27 Price Changed $549,000 SJSRMLS
• 2026-04-08 Rental Removed $10,000 SJSRMLS
• 2026-03-14 Listed for Rent $10,000 SJSRMLS
• 2026-01-09 Price Changed $559,000 SJSRMLS
• 2026-01-09 Listed $559,900 BRIGHT MLS
• 2026-01-08 Listed $559,900 SJSRMLS
• 2026-01-08 Listed $559,900 CMCMLS
• 2026-01-06 Delisted — CMCMLS
• 2026-01-06 Listing Removed — BRIGHT MLS
• 2026-01-06 Listing Removed — SJSRMLS
• 2025-10-21 Price Changed $559,900 CMCMLS
• 2025-10-21 Price Changed $559,900 SJSRMLS
• 2025-10-21 Price Changed $559,900 BRIGHT MLS
• 2025-09-18 Price Changed $564,900 CMCMLS
• 2025-09-17 Listed $564,900 BRIGHT MLS
• 2025-09-17 Listed $564,900,000 CMCMLS
• 2025-09-17 Listed $564,900 SJSRMLS
• 2025-08-14 Rental Removed $1,600 SJSRMLS
• 2025-08-06 Listed for Rent $1,600 SJSRMLS
• 2024-08-25 Rental Removed $1,500 SJSRMLS
• 2024-08-14 Listed for Rent $1,500 SJSRMLS
• 2022-03-10 Sold (Public Records) $469,900 Public Records
• 2022-03-10 Sold (MLS) $469,900 SJSRMLS
• 2022-02-25 Contingent — SJSRMLS
• 2022-02-17 Listed $469,900 SJSRMLS
• 2021-07-28 Sold (Public Records) $425,000 Public Records
• 2021-07-06 Sold (MLS) $425,000 SJSRMLS
• 2021-06-08 Contingent — SJSRMLS
• 2021-06-05 Listed $429,900 SJSRMLS
• 2020-09-21 Sold (Public Records) $259,000 Public Records
• 2020-08-04 Sold (MLS) $259,000 SJSRMLS
• 2020-06-25 Contingent — SJSRMLS
• 2020-04-02 Listed $269,900 SJSRMLS
• 2020-04-01 Listing Removed — SJSRMLS
• 2019-07-01 Price Changed $265,000 SJSRMLS
• 2019-05-07 Listed $269,900 SJSRMLS
• 2015-04-14 Sold (Public Records) $215,000 Public Records
• 2015-04-06 Sold (MLS) $215,000 SJSRMLS
• 2015-03-20 Contingent — SJSRMLS
• 2015-03-04 Listed $234,500 SJSRMLS
• 2013-09-14 Listing Removed — SJSRMLS
• 2013-03-14 Listed $259,000 SJSRMLS
• 2000-06-06 Sold (Public Records) $122,000 Public Records
• 2000-05-18 Sold (MLS) $122,000 SJSRMLS
• 2000-03-22 Listing Removed — SJSRMLS
• 2000-03-10 Listed $129,900 SJSRMLS
• 1996-09-18 Sold (Public Records) $85,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,970 · +3.4% YoY. Source: county tax records.