111 E Magnolia Ave Unit C · Wildwood, NJ 08260

$525,000

3 bd · 2.0 ba · 1,165 sqft · Condo public records · 17 Days on market

Built 1988

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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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• 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

Beautifully maintained and completely re-done 2nd floor condo featuring 3 bedrooms and two baths. Condo also includes an exterior storage closet for beach gear, plus inside storage in attic. Assigned, off street, stacked parking for 2 cars. Watch the Friday night fireworks all summer from the private deck. Condo fee includes insurance, water & sewer. Easy walking distance to the beach & boardwalk.

Key facts

• Built-in dining nook
• Private front deck
• Updated kitchen

Tags

• PRIVATE FRONT DECK
• UPDATED KITCHEN
• BUILT-IN DINING NOOK
• TWO OFF-STREET PARKING SPACES
• PRIVATE STORAGE AREA

Property features AI

Finance

• HOA & community: Condo fee of $375

Exterior

• Parking: Assigned parking for 2 cars; Concrete driveway
• Utilities: City water; City sewer; Electric hot water
• Home design: Unit C
• Exterior features: Outside shower; Year-round use; Owners allowed pets; Approximately 3 blocks to the beach

Interior

• Kitchen: Range; Oven; Self-cleaning oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Living room; Eat-in kitchen; Other rooms as noted
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $525k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $525k).
• Recommended offer: $517k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 $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 17 days — a 2% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $190k; list at $525k implies a 176% 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $517,125 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 7.7

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: -9.7%
• Equity multiple: 0.64×
• Total profit: $-52,389
• Equity at exit: $78,279

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-2,683
• Equity at exit: $45,392

Cash invested: $147,000 (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: 7.7×

Monthly cashflow live

• Estimated rent: $5,691 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$441 /mo · $5,292/yr
• Insurance: −$219
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$148
• Vacancy / Maint / Mgmt: −$1,195
• Net cashflow: $508

Break-even live

Break-even rent $5,047

Max offer price $525,000

Occupancy floor 86%

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 E Lincoln Ave #104 Wildwood, NJ	3.0	2.5	1500	$4,750	$3.17	43d	1	0.38mi
206 W Spencer Ave Wildwood, NJ	2.0	1.0	750	$2,000	$2.67	44d	1	0.56mi
142 E Youngs Ave Unit 1309014P Wildwood, NJ	3.0	1.5	1194	$5,873	$4.92	43d	1	0.58mi
611 W Burk Ave Unit A Wildwood, NJ	2.0	1.5	1248	$12,000	$9.62	43d	1	1.01mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $525,000 Active 17 DOM
2. 2026-06-17
   days on market $525,000 Active 16 DOM
3. 2026-06-16
   days on market $525,000 Active 15 DOM
4. 2026-06-15
   days on market $525,000 Active 14 DOM
5. 2026-06-13
   days on market $525,000 Active 12 DOM
6. 2026-06-12
   days on market $525,000 Active 11 DOM
7. 2026-06-09
   days on market $525,000 Active 8 DOM
8. 2026-06-08
   days on market $525,000 Active 7 DOM
9. 2026-06-07
   days on market $525,000 Active 6 DOM
10. 2026-06-07
    days on market $525,000 Active 5 DOM
11. 2026-06-04
    days on market $525,000 Active 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    listed $525,000 Active 1 DOM

ⓘ 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: $5,292 · $441/mo
• Projected year-2 tax: $9,182 · $765/mo
• Expected delta: +$3,890/yr (+$324/mo · 73.5%)

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

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 · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,291
• − Mortgage interest: −$29,408
• − Property taxes: −$5,292
• − Insurance: −$7,744
• − Repairs & maintenance: −$5,463
• − Management: −$5,463
• − HOA: −$1,776
• − Depreciation: −$15,273
• Taxable loss: −$2,128
• Est. tax savings @ 24.0%: +$511
• After-tax cash flow: $6,611/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

+776.5% since first listed

11 events — show timeline

• 2026-06-01 Listed $525,000 CMCMLS
• 2015-10-27 Sold (Public Records) $190,000 Public Records
• 2015-10-09 Sold (MLS) $190,000 CMCMLS
• 2015-09-10 Delisted — CMCMLS
• 2015-08-30 Listed $199,900 CMCMLS
• 2012-11-15 Sold (Public Records) $161,500 Public Records
• 2012-11-09 Sold (MLS) $161,500 CMCMLS
• 2012-08-04 Listed $169,000 CMCMLS
• 2001-05-16 Sold (MLS) $58,000 SJSRMLS
• 2001-04-03 Listing Removed — SJSRMLS
• 2001-03-06 Listed $59,900 SJSRMLS

Property tax history

+2.9%/yr

Latest (2025): $5,292 · +2.8% YoY. Source: county tax records.