10 months on rocket

1637 Atlantic Ave, Atlantic City, NJ, 08401

$475,000

Home List Price

$5,641*

Closing Credit

0 Baths
4,602 SqFt
$103/SqFt
Multi

Location

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1637 Atlantic Ave, Atlantic City$475,000

Buyer Closing Credits

$5,641*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeDuplex
ParkingNone
HeatingNatural Gas, Other
WaterfrontSee Remarks
ViewSee Remarks
MLS #580707
StatusActive

About 1637 Atlantic Ave

10.6% CAP RATE!! INVESTOR ALERT - Turnkey Cash Flowing Commercial Mixed Use property! Located next to the new development site of a 125,000 Square foot agricultural museum. This Mix-use property consists of approximately 4,602 sq.ft. with a store front and 2 apartments. All units have separate gas and electric. First Floor is a Commercial storefront with 2 private bathrooms. The commercial space is approximately 2,200 square feet. Apartment 1 has Three bedrooms with newly painted walls and carpet with a large private back deck. Apartment 2 is a two-level fully renovated/remodeled Two bedroom with Den/extra sleeping area. Also comes with a very large private deck off the kitchen. New Kitchen, Flooring, lighting, paint, doors, and all new trim. Located in the heart of it all!!! Close to the Atlantic City Hospital, Casinos, beach and boardwalk. Convenient location for Casino or Hospital workers!!! Annual NOI of $50,250 putting this listing at a 10.6% cap rate!! Rental Income: Storefront $2,500 or $30,000 per year with annual rent increase on a 10-year lease; Apartment One $1,650 or $19,800 per year; Apartment two $1,650 or $19,800 per year. Total annual income of $69,600. Annual Expenses: Water & Sewer $1,100.00 per year; Insurance $4,500 per year; Property Tax $8,750; Misc $5,000 per year.

Property Details

Property Features

Property Information:

  • Living Area: 4,602 SqFt

Listing Office:

  • Office Name: BALSLEY/LOSCO-VENTNOR
  • Office Phone: (609) 822-9615

Interior Features

Interior Information:

  • Appliances: Gas Oven, Refrigerator

Exterior Features

Exterior Information:

  • Waterfront: See Remarks
  • View: See Remarks
  • Exterior: Deck, Sidewalks

Parking Information:

  • Attached Garage: No
  • Parking: None

Lot Features

Lot Information:

  • Lot: Sidewalk

Utilities

Utilities Information:

  • Heating: Natural Gas, Other

Other

Directions Information:

  • Directions: 1637 Atlantic . Block after Martin Luther King Blvd.

Price Information

Listing Price Info

Price Summary:

  • List Price: $475,000
  • Price Per SqFt: $103/SqFt

Tax Information:

  • Annual Amount: $9,070
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Atlantic City, NJ.

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Atlantic City, NJ

City

Med. Sold Price

$239K

Med. Price/SqFt

$194

Avg. Days On Market

54

# of Sold Homes

36

1637 Atlantic Ave vs Atlantic City

318 DAYS ON ROCKET

+264 Days

$475,000

+$236K More

$103/SqFt

-$92 Less

KEY TAKEAWAY

This property is $236K more than the Median Sold Price and $92/SqFt less than other homes in Atlantic City, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #580707

Listing Office:

  • Office Name: BALSLEY/LOSCO-VENTNOR
  • Office Phone: (609) 822-9615

Broker Reciprocity Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2024 SJSR MLS. All rights reserved.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/5/2024, 8:20:55 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Feb 06, 2004Home Sold
$180,000

Tax History

YEARPROP. TAXASSESSMENT
2020$9,070$232,500
2019$9,362$235,000
2018$8,303$235,000
2017$8,039$235,000

History based on county public records data.

Payment Calculator

$2,438

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,491

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-1974882
2
/10

  • Brighton Avenue School

  • 30 N Brighton Ave

  • 0.96 miles

  • Public District Grades KG-5

school-card-donut-1974883
7
/10

  • Ventnor Elementary School

  • 400 N Lafayette Ave

  • 3.72 miles

  • Public District Grades PK-4

school-card-donut-1974884
8
/10

  • William H. Ross III School

  • 101 N Haverford Ave

  • 4.30 miles

  • Public District Grades PK-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $23,279. The majority of Atlantic City, NJ residents have income less than $35k annually. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Atlantic County›Atlantic City›08401›1637 Atlantic Ave

This home is located at 1637 Atlantic Ave in Atlantic City, NJ and zip code 08401 in the Downtown neighborhood. It has been listed on Rocket Homes since December 23, 2023 and is currently priced at $475,000.

In October 2024, from all listings sold in Atlantic City, NJ there were more than 3 sold above asking price, over 11 sold below and more than 5 were sold right at the asked price. The number of listings in Atlantic City, NJ decreased by 0.4% between September 2024 and October 2024. While the average time on the market in October 2024 was 54 days, the median list price was $239,000.

From Rocket Homes Real Estate and based on county public records data.

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