Rentals in Wildwood>Question Details

Nick, Home Buyer in Wildwood, NJ

is wildwood a good place for an investment property?..what type of rent can i get for a 3 bedroom 2 bath property in the summer?.. average? thanks

Asked by Nick, Wildwood, NJ Thu Oct 14, 2010

also where is it better to buy a property ocean city, nj or wildwood, nj?

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Are you speaking of Wildwood North Wildwood or Wildwood Crest? There is a huge difference between them all. I sell there and own there. I can tell you the best buys are in the wildwoods right now. Location is everything when it comes to the wildwoods. And actually any shore town for that matter. Therefore being close to the beach is very important for rental value and appeal.
What I would like lo add is this. wildwood is a good rental value for vacationers. The rents are very good. You will pay much more for a home in OC but the rents are same or lower in some cases. Mostly because of the competition. I get 2200-3200 week in North Wildwood. I have a 5 bed 2 bath home single family. However Wildwood is the least desirable.. North Wildwood and Wildwood Crest has the most appeal and best rents.

My opinion North Wild has the best value. Beaches are wonderful, no flies or bugs, Close to the attractions, and there is an appeal for all ages and types. I have some insight i can provide to maximize your rental.

There are short sales and a few Bank owned properties. But buying near the marsh will get you much less rents than near the beach.

It is my opinion the wildwoods property values are lower because there are very few beach front homes. Nothing to filter values back. Beach front homes draw big spenders. But rentals still command a good value and that means a good ROI. Yes I have seen many people getting 1400-1800 but there are ways to maximize rentals without much risk or high costs.

You need some help in the wildwoods call me

Larry Sarlo.
Weichert Realtors
609-868-1171
1 vote Thank Flag Link Thu Oct 14, 2010
Hi Nitan. My close friend and attorney in Philly is handling several properties in Wildwood. My buddy gets $1500/week on average, sometimes more, sometimes less. If I had to give you high/low numbers, it would be $1000-2000/week.

If I had to compare them side by side, I'd say that Ocean City is a wealthier crowd, more upscale, more families, smaller boardwalk and VERY short beach (from the boardwalk to ocean).

Wildwood is a younger crowd, some families, less upscale, larger boardwalk, more attractions for kids, more piers, and BIG beach, from the boardwalk to the ocean.

I visited last year and was shocked at how poorly the houses were constructed. When we got to the second floor and walked around, everything moved....the floors, the walls, were not sturdy, way below par, in my opinion.

GOOD LUCK.

Scott Miller, Realty Associates, Boca Raton, FL
1 vote Thank Flag Link Thu Oct 14, 2010
Hi Nick,
Wildwood City will give you the "best bang for your buck" without doubt.
Choose a buyer's representative that lives on the Island. I was preplexed by the FL agent's
bashing of our construction. I asked him where he stayed, he could only report that it was
beachblock somewhere in N.Wildwood. I live here and show properties regularly. I've never
experienced "moving floors" etc. Our builders have to conform with the national BOCA codes.
While some designs are not to my personal tastes, rest assured that all newer construction also
comes with NJ's 10 year HOW that is transferable. Good luck with your search. If I can be of assistance,
please call or click.Always here for you.

Jim Scott,CRS*
Broker/Owner
At The Shore Realty
609 425 7121 to 9 PM daily.

*There are over one million REALTORS® in business today.Only 37,000 hold the
Certified Residential Specialist Designation.CRS is the symbol of excellence in
residential real estate. Our members have proven they have the experience,
continuing training and commitment to be the best in their profession.
0 votes Thank Flag Link Mon Oct 18, 2010
Hi Nitan
Yes Wildwood is a great place to invest especially if you no were in Wildwood to buy. There are still a few streets that need to be cleaneed up. For instance I live in the only gated community in Wildwood. It s 50 townhomes and 8 condos, with a huge pool with a built in baby pool 3 BBQ grills , water fountains runing, beautifuuly lanscaped, with sevailance camers every were . There is one condo available, It is 3 bedrooms
with 2 bathrooms, fully furnished, overlooking the courtyard. It has a great rental history. It averages 18k per season. You can get this unit for around 230k. We also have other units that will suit your needs. My wife and i are with Weichert Coastal realtors. The only Weichert office on the island.Please feel free to call me anytime. Iwould be gladd to help you in anyway
Thanks
Nick Pappas
609 334 4331
Web Reference: http://www.bythenjsea.com
0 votes Thank Flag Link Fri Oct 15, 2010
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