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$ 179,900
Est. payment /mo
New
1141 N Michigan Atlantic City, NJ 08401
3 Beds
1 Bath
902 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family
Listing Status Active
Purchase Type For Sale
Square Footage 902 sqft
Price per Sqft $199
MLS Listing ID 609558
Style 1 1/2 Story
Bedrooms 3
Full Baths 1
Year Built 1959
Annual Tax Amount $1,555
Tax Year 2025
Lot Size 902 Sqft
Property Sub-Type Single Family
Property Description
TURNKEY INVESTOR SPECIAL: 11.6% Gross Yield in Atlantic City Stop looking for cash flow—it's right here. This fully occupied, single-family rental generates a steady $1,750/month (+ utilities) with zero immediate turnover or capital expenditures (CapEx) required. The Investment Financials: Asking Price: $179,900 Monthly Rent: $1,750 (Month to Month lease) Gross Annual Income: $21,000 Annual Property Taxes: $1,555 Property Management Setup: Tracked smoothly via RentRedi. Recent Updates & Property Condition: Brand new flooring installed through the living room and hallway. Fresh, clean carpet in all 3 bedrooms. Clean, recently approved Certificate of Occupancy (CO) on file with the city — 100% compliant and ready for a seamless transfer. The Story: The property is being sold strictly to free up liquidity for unrelated outside financial obligations — NOT due to property performance. The multi-year tenants have an impeccable payment history and treat the home with care. This is a pure plug-and-play addition for cash buyers, portfolio builders, or 1031 exchange investors looking for Day 1 income. Built-in Upside: Current rent is well below market. Average local rents are approximately $2,200–$2,500/month, giving the next owner meaningful room to increase rents over time.
Location
State NJ
County Atlantic
Community Atlantic City
Area Atlantic City
Rooms
Basement Crawl Space
Interior
Interior Features Carbon Monoxide Detector, Smoke/Fire Alarm
Heating Electric
Flooring Vinyl, W/W Carpet, Laminate Flooring
Exterior
Exterior Feature Aluminum
Parking Features None
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Listed by REALMART REALTY