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    Property profile & analytics

    923 Washington St Cape May, NJ 08204-1661

    • Residential income homes
    • 12,864 SF
    • 1.04 lot acres
    OFF-MARKET
    Value Estimation
    $4,245,000
    Last Sale
    Dec 29, 2021
    $3,850,000
    Location Intelligence
    Property ID
    US59-0567755
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 923 Washington St

    Construction
    BRICK
    Lot size
    1.04 lot acres
    Property size
    12,864 SF
    Zone code
    R-3
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    02 01094-0000-00011
    APU
    201094000000011

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $4,270,000

    • CAP approach

      CAP return
      Estimation
      6%
      $3,765,000
      6.5%
      $3,740,000
      7%
      $3,875,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $4,215,000
      Geo Method
      $4,165,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $4,150,000
      Retail
      $3,425,000
      Mixed-Use
      $4,185,000
      Hospitality
      $3,250,000
      Educational
      $3,185,000
      Residential Income
      $3,880,000
      Energy
      $4,115,000
      Income-Based Land
      $3,850,000
      Food Service
      $3,685,000

    Location Insight

    • Map
    • Local Demand
    City
    Cape May
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.9173
    Latitude
    38.9387
    CBSA code
    36140
    CBSA name
    OCEAN CITY, NJ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $18,267
    $1,260,000
    $510,100
    $1,770,100
    -
    $1,260,000
    $510,100
    $1,770,100

    Comparable in this City

    • Value Estimation by Request
      8,663 SF

      11 Decatur St

      APARTMENT HOUSE (UNDER 5 UNITS) • 8,663 SF
      11 Decatur St, Cape May, NJ 08204-1413
      View Details
    • Value Estimation by Request
      5,478 SF

      5 Perry St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,478 SF
      5 Perry St, Cape May, NJ 08204-1460
      View Details
    • Value Estimation by Request
      2,831 SF

      609 Hughes St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,831 SF
      609 Hughes St, Cape May, NJ 08204-2317
      View Details
    • Value Estimation by Request
      2,935 SF

      23 Ocean St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,935 SF
      23 Ocean St, Cape May, NJ 08204-2411
      View Details
    • Value Estimation
      $1,295,000
      2,444 SF

      710 Columbia Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,444 SF
      710 Columbia Ave, Cape May, NJ 08204-2332
      View Details
    • Value Estimation
      $1,820,000
      504 SF

      640 Hughes St

      APARTMENT HOUSE (UNDER 5 UNITS) • 504 SF
      640 Hughes St, Cape May, NJ 08204-2334
      View Details

    Similar Nearby for Sale

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      Cape May Corner Lot Apartment

      Three-story multi-family building with cottage, two blocks from beach.
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      View Details
    • $2,890,000

      Historic Cape May Apartment Building

      Historic 1876 building with five apartments near beaches and shops.
      933 Washington St, Cape May, NJ 08204
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    • $3,900,000

      Cape May Hotel Opportunity

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      Mixed-use property with retail space, garage, and residential apartment.
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    • New
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      Cape May Four-Plex For Sale

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      View Details
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    923 Washington St
    Cape May, NJ 08204-1661
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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