1141 N Michigan Ave
Listing Notes
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.
Price in context
Cheaper than 79% of the 24 homes listed nearby right now, which run $110,000 to $257,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 902 N Michigan Ave | $110,000 | 3 bd · 1 ba |
| 611 N Indiana Ave | $119,000 | 1 bd · 1 ba |
| 135-137 N Georgia Ave | $138,000 | — |
| 1003 N Michigan Ave | $160,000 | 2 bd · 1 ba |
| 3101 Boardwalk Unit 1806 | $169,900 | 1 bd · 2 ba |
| 1911 Hummock Ave | $185,000 | 4 bd · 1 ba |
| 524 N Indiana Ave | $199,000 | 4 bd · 1 ba |
| 1263 N Ohio Ave | $199,900 | 3 bd · 2 ba |
| 219 Arizona Ave | $209,000 | 3 bd · 1 ba |
| 214 N Florida Ave | $215,000 | 2 bd · 2 ba |
| 138 N Florida Ave | $216,000 | 3 bd · 1 ba |
| 2040 Hamilton Ave | $219,900 | 3 bd · 2 ba |
| 1610 Madison Ave | $225,000 | 3 bd · 2 ba |
| 715 N Michigan Ave | $229,900 | 4 bd · 2 ba |
| 1918 Caspian Ave | $230,000 | 6 bd · 3 ba |
| 823 N Indiana Ave | $234,900 | 3 bd · 1 ba |
| 1823 N Missouri Ave | $235,000 | 3 bd · 1 ba |
| 1838 Morningside Ave | $239,900 | 3 bd · 2 ba |
| 1405 N Ohio Ave | $240,000 | 3 bd · 2 ba |
| 641 Howard Ave | $240,000 | 3 bd · 1 ba |
| 2104 Grant Ave | $241,900 | 1 bd |
| 2425 Formicas Way Unit 2425 | $249,000 | 2 bd · 2 ba |
| 660 N Kentucky Ave | $255,000 | 4 bd · 2 ba |
| 638 N Kentucky Ave | $257,000 | 3 bd · 1 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more