610 Barnegat Ave #4 · Seaside Heights, NJ 08751

$849,000

16 bd · 16.0 ba · 2,310 sqft · MultiFamily · 113 Days on market

Good condition 2,178 sqft lot

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Why this score? — see what drove the D+ 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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

If you are looking for an income producing property with low taxes this is for you. This super clean 4 family could be an amazing short term rental, a mix 1 bedrooms, and studios, you can rent each one for $1500 per week during the summer months, then rent for the winter months for $1400 per month, coin-op Washer and Dryer onsite. You can generate over 100K per year in rentals, this could be a cash machine, or buy it to enjoy the current cash flow. All units are separately metered for gas and electric. Existing tenants would stay if you want them. Walk to the beach, boardwalk, rides, restaurants and shopping. 1 Hr from NYC, AC & Philly off Parkway Exit 82. Financing available to quali

Key facts

• Short term rental
• Walk to the beach
• Boardwalk

Tags

• INCOME PRODUCING PROPERTY
• SHORT TERM RENTAL
• COIN-OP WASHER AND DRYER
• WALK TO THE BEACH
• BOARDWALK
• RESTAURANTS AND SHOPPING

Property features AI

Exterior

• Parking: Garage present (garage spaces listed as 0)
• Utilities: Public sewer
• Home design: Individually owned
• Exterior features: Shingle roof

Interior

• Bedrooms: 4 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 4 full bathrooms
• Heating & cooling: Cooling system present (type: Other)
• Interior features: Ceramic tile flooring; No fireplaces; Crawl space basement

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $849k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive. Per door: $121/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $849k).
• Recommended offer: $773k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 2.9% in Seaside Heights — 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 60/100 on livability (#483 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: commute F, employment F, cost of living F.
• Central Regional School District (suburban): math 17% / reading 43% proficiency, ranked #357 of 472 in NJ (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hugh J. Boyd Jr. Elementary School (math 8% / reading 22%, grade F, #1,124 of 1,303 statewide, top 88%, 202 students, 76% FRL); Central Regional Middle School (math 19% / reading 46%, grade F, #279 of 431 statewide, top 66%, 716 students, 37% FRL); Central Regional High School (math 15% / reading 39%, grade F, #312 of 399 statewide, top 79%, 1,606 students, 36% FRL) — zoned schools average 49% FRL vs 28% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 196 active listings in the ZIP; 4,434 units permitted in Ocean County in 2024 (868 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Ocean County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($773k) is reasonable based on typical stale-listing flexibility.

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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $772,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 8.2

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: -12.4%
• Equity multiple: 0.55×
• Total profit: $-106,331
• Equity at exit: $126,589

10-year hold

• IRR: -3.2%
• Equity multiple: 0.78×
• Total profit: $-51,273
• Equity at exit: $73,406

Cash invested: $237,720 (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 08751

• Home prices YoY: -34.8%
• Active inventory: 196
• Price-to-rent: 33.0×

Monthly cashflow live

• Estimated rent: $8,580 high
• Mortgage (P&I): −$4,452
• Tax est. 1.5%: −$1,061 /mo · $12,735/yr
• Insurance: −$354
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,802
• Net cashflow: $484

Break-even live

Break-even rent $7,967

Max offer price $849,000

Occupancy floor 89%

Sensitivity live

Price	-10% $1,071	-5% $778	+0% $484	+5% $191	+10% $-102
Rent	-10% $-193	-5% $145	+0% $484	+5% $823	+10% $1,162
Rate	-1.0pp $912	-0.5pp $700	base $484	+0.5pp $264	+1.0pp $41

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,580
Total (4 units)			$8,580

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: $212,250
• Closing costs: $25,470
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $849,000 Active 113 DOM
2. 2026-06-21
   days on market $849,000 Active 112 DOM
3. 2026-06-21
   days on market $849,000 Active 111 DOM
4. 2026-06-18
   days on market $849,000 Active 109 DOM
5. 2026-06-17
   days on market $849,000 Active 108 DOM
6. 2026-06-16
   days on market $849,000 Active 107 DOM
7. 2026-06-15
   days on market $849,000 Active 106 DOM
8. 2026-06-13
   days on market $849,000 Active 104 DOM
9. 2026-06-12
   days on market $849,000 Active 103 DOM
10. 2026-06-09
    days on market $849,000 Active 100 DOM
11. 2026-06-08
    days on market $849,000 Active 99 DOM
12. 2026-06-07
    days on market $849,000 Active 98 DOM
13. 2026-06-07
    days on market $849,000 Active 97 DOM
14. 2026-06-04
    days on market $849,000 Active 95 DOM
15. 2026-06-03
    days on market $849,000 Active 94 DOM
16. 2026-06-02
    days on market $849,000 Active 93 DOM
17. 2026-06-01
    days on market $849,000 Active 92 DOM
18. 2026-05-31
    days on market $849,000 Active 91 DOM
19. 2026-02-27
    listed $849,000 Active

ⓘ 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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $102,960
• − Mortgage interest: −$47,557
• − Property taxes: −$12,735
• − Insurance: −$9,364
• − Repairs & maintenance: −$8,237
• − Management: −$8,237
• − Depreciation: −$24,698
• Taxable loss: −$7,867
• Est. tax savings @ 24.0%: +$1,888
• After-tax cash flow: $7,701/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. Painting the exterior siding and cleaning the windows and HVAC system would significantly enhance its curb appeal and rental value.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint will enhance the curb appeal and increase the property's value.
• Both Clean the windows — Clean windows will improve the property's appearance and increase its rental value.
• Both Inspect and clean the HVAC system — A clean and functioning HVAC system will improve comfort and energy efficiency, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint will enhance the curb appeal and increase the property's value. ↑
• Both Clean the windows — Clean windows will improve the property's appearance and increase its rental value. ↑
• Both Inspect and clean the HVAC system — A clean and functioning HVAC system will improve comfort and energy efficiency, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Central Regional School District
• NCES district ID: 3402910
• Math proficiency: 17% ▼ -14.00%
• Reading proficiency: 43% ▲ 7.00%
• Median HH income: $44,676
• Composite: 25.59/100
• National rank: #7422
• State rank: #357 of 472 in NJ

Livability — Seaside Heights

• Score: 60/100
• State rank: #483
• US rank: #19128

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seaside Heights, NJ
• Population (ZIP): 3,625

Population outlook (Ocean County) Hauer SSP2

• Today (2025): 586,991 people
• By 2030: 581,403 · -1.0%
• By 2040: 564,913 · -3.8%
• By 2050: 538,149 · -8.3%
• By 2075: 468,845 · -20.1%
• By 2100: 350,297 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 7% Iranian 1% Subsaharan African 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Ocean

• 2024 margin: Solid R (+36.0) · D 31.4% · R 67.4% · Other 1.2%
• 2008→2024 swing: -17.6pp toward R · 2008: -18.4pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+28.7 2016: R+34.0 2012: R+17.7 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -301.05%
• Current HPI: 564.3566
• 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

1 event — show timeline

• 2026-02-27 Listed $849,000 MOMLS