Residential Income Property with
New
For Sale
$210,000
10 TEABERRY COURT, Marlton, NJ 08053
Third-floor condominium with two bedrooms, two bathrooms, and renovation-ready interiors.
Property Size911 SF
Days on Market6
Property Features for 10 TEABERRY COURT
General Information
Standard status
Active
Size
911 SF
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
renovation
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,936
Amenities
private balcony
Building Details
Building Size
911 SF
Year Built
1988
Listing Agency:
EXP Realty, LLC
(609) 634-8853
Listed By:
Jeffrey P Amsden · License #0456089
(609) 634-8853
Source:
Patmckennarealtors
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 22 at 11:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
This third-floor condominium provides two bedrooms, two bathrooms, and living areas arranged for residential use. Built in 1988, the home includes a private balcony and offers an opportunity to update the interiors and tailor the finishes to a new owner’s preferences.
The property is located at 10 Teaberry Court in Marlton, New Jersey. Its existing condominium layout and outdoor balcony provide a defined starting point for a renovation plan, while the available living space supports a range of residential design approaches.
The property is located at 10 Teaberry Court in Marlton, New Jersey. Its existing condominium layout and outdoor balcony provide a defined starting point for a renovation plan, while the available living space supports a range of residential design approaches.
Key Highlights
- Two‑bedroom, two‑bathroom condominium
- Third‑floor location
- Private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,252
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$185,040
$185.0K
Cap Rate 7%
$132,171
$132.2K
Cap Rate 9%
$102,800
$102.8K
Market Conditions
NOI Build-Up for 911 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.8K $19.56/SF
− Vacancy
−$998 −$1.10/SF
EGI
$16.8K $18.46/SF
− OpEx
−$7.6K −$8.31/SF
NOI
$9.3K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$185,040
Cap Rate 7%
$132,171
Cap Rate 9%
$102,800
Alternative Uses
Best Use
Apartment 5plus
$132.2K
$115.7K – $154.2K
NOI $9,252 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.0K
$202.1K – $269.5K
NOI $16,169 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 08053, NJ
46,826
Population
20,090
Households
2.3
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
1,604
Density / Sq Mi
$116,745
Median Household Income
$67,439
Median Earnings
$1,939
Median Rent
$368,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor condominium with two bedrooms, two bathrooms, and renovation-ready interiors.
Where is this residential income property located?
The property is located at 10 TEABERRY COURT Marlton, NJ.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condominium; Third‑floor location; Private balcony
