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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Residential income homes
341 Central Ave Ocean City, NJ 08226-4086
Individually Owned
3-yr Hold
Property ID
US59-0100316
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1916
Construction
FRAME
Total area
3,493 SF
Lot
0.09 ac (3,999 SF)
Zoning code
HD2
APN
08 00306-0000-00003
UPID
US59-0100316
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$745k
Owner & transaction history
Craig Middleton · 3 yrs held
Craig Middleton
since 2022
Last sale
$610,000
2 recorded transactions
Zoning & alternative use
HD2 · Ocean City, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ocean City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ocean City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$900,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
$860,000
6.5%
$795,000
7%
$740,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,020,000
Current use
COMMERCIAL (GENERAL)
$885,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$745k
Range $671k – $820k · ±10% · vs last sale $610k (Sep 8 2022)
Last sale anchor
$610k
Sep 8 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$213 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$4,517
Tax year 2022
Assessed value
$439,000
Assessed 2023
Previous assessed
$439,000
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$285,300
Assessed improvement
$153,700
Land market value
$285,300
Improvement market value
$153,700
Total market value
$439,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1916
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Total area
3,493 SF
Lot
0.09 ac (3,999 SF)
Zoning code
HD2
APN
08 00306-0000-00003
UPID
US59-0100316
Jurisdiction
CAPE MAY
Zoning & alternative use
HD2 · Ocean City, NJ
Zoning HD2 · permitted uses
HD2 · Ocean City, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ocean City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$885,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1916
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Craig Middleton
Individual
Mailing address
306 SALARNO CT, MULLICA HILL, NJ 08062-1896
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2022
$610,000
Craig Middleton
Middleton C C Est
Personal Representative Deed
$1,058,887 · Builders Tr Cap LLC
—
—
Middleton,christopher & Craig JR
—
Deed Of Trust
related
$500,000 · Argent Mtg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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