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328 Coral St
Beach Haven, NJ

328 Coral St

$1,539,800
5 bd • 3 ba • 2,088 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$1,539,800

Price/Sq.Ft

$737

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 328 Coral St, Beach Haven, NJ offers a spacious 2,088 sqft layout with 5 bedrooms and 3 bathrooms, ideal for large families or as a vacation rental. Its location in Beach Haven, a popular coastal town, suggests strong rental potential. The property's size is 39% larger than the average 3-bedroom home in the area (1,500 sqft), offering excellent value. The exterior appears well-maintained with neutral siding, likely reducing immediate maintenance costs. The presence of mature trees indicates an established neighborhood, potentially increasing property value. The basketball hoop and ample parking space (including a garage and driveway) add recreational value and convenience for residents or renters.

The Bad

At $737.45/sqft, the property is priced 23% above the area's median price of $600/sqft for similar homes, potentially limiting its investment appeal. The lack of detailed property features and description makes it challenging to assess the interior condition and any recent upgrades. The unknown build year raises concerns about potential hidden issues or outdated systems. The property's proximity to other homes suggests limited privacy, which may deter some buyers. The visible power lines in front of the house could be considered an eyesore and may impact resale value.

The Ugly

Beach Haven's location on a barrier island exposes the property to significant flood and hurricane risks. FEMA flood maps indicate a high probability (26% chance over 30 years) of severe flooding, potentially leading to annual flood insurance costs of $3,000-$5,000. Wind damage risk is also high, with potential insurance premiums 30-40% higher than inland properties. The median income of $97,247 in Beach Haven suggests that the $1,539,800 price tag may be out of reach for many local buyers, potentially limiting the resale market. Estimated property taxes could reach $15,000-$20,000 annually based on New Jersey's high property tax rates, significantly increasing the total cost of ownership.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for high-income families or groups of investors with a combined annual income of $300,000+ (based on a 28% front-end DTI ratio). It's ideal for those seeking a spacious vacation home with strong rental potential, as Beach Haven's popularity could generate weekly rental rates of $3,000-$4,000 during peak season. The 5-bedroom layout works well for multi-generational families or those frequently hosting guests. Investors looking for long-term appreciation in a desirable coastal market may find value, despite the high entry price.

Not For

This property is not suitable for first-time homebuyers or those with household incomes below $200,000 due to the high purchase price and ongoing costs. It's also not ideal for those seeking a quiet, private retreat due to the close proximity of neighboring homes. Risk-averse investors or those unable to manage potential flood and storm-related expenses should avoid this property. Additionally, it's not suitable for buyers looking for a low-maintenance or newly built home, given the unknown construction date and potential for weather-related wear.
Demographics
Area Median Income

$97,247

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Risk Assessment

Risk Analysis

The primary risks include flood and hurricane damage, with potential for significant property damage and high insurance costs. Sea level rise projections for the New Jersey coast (estimated 1.4 feet by 2050) could increase flood frequency and severity. The unknown build year raises concerns about outdated electrical, plumbing, or HVAC systems, potentially requiring costly upgrades. Beach erosion is an ongoing issue in Beach Haven, which could affect property value long-term. The seasonal nature of the local economy may lead to difficulties finding year-round tenants if used as a rental property. Potential zoning restrictions on short-term rentals could impact rental income potential.

Financials

Monthly Costs
Market Rent (5 bed)

$2,441

Get a detailed rental estimate on Zillow®

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$2,255,000

46.4% above list price

Median Price

$2,350,000

Based on 5 recent sales

Price per Sq.Ft

$1,036

Comparable Properties

431 AMBER STREET UNIT # A, BEACH HAVEN, NJ 08008
Price: $1,925,000
Sq.Ft: 1,854
Beds/Baths: 4/3
$/Sq.Ft:
$1,03840.8%
Sale Date: 8/22/2024
334 LEEWARD AVENUE, BEACH HAVEN, NJ 08008
Price: $2,350,000
Sq.Ft: 2,237
Beds/Baths: /
$/Sq.Ft:
$1,05142.5%
Sale Date: 10/22/2024
334 LEEWARD AVENUE, BEACH HAVEN, NJ 08008
Price: $2,350,000
Sq.Ft: 2,237
Beds/Baths: 5/4
$/Sq.Ft:
$1,05142.5%
Sale Date: 10/22/2024
112 E 13TH, LONG BEACH TOWNSHIP, NJ 08008
Price: $2,500,000
Sq.Ft: 2,352
Beds/Baths: 4/4
$/Sq.Ft:
$1,06344.1%
Sale Date: 9/8/2024
407 AMBER ST, BEACH HAVEN, NJ 08008
Price: $2,150,000
Sq.Ft: 2,200
Beds/Baths: 4/4
$/Sq.Ft:
$97732.5%
Sale Date: 7/29/2024

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