Remodeled Residential Income
New
For Sale
$250,000
1004 BERWYCK COURT, Sicklerville, NJ 08081
Upper-level condo with updated finishes, vaulted ceilings, skylights, and a wood-burning fireplace in La Bonne Vie.
Property Size908 SF
Days on Market4
Property Features for 1004 BERWYCK COURT
General Information
Standard status
Active
Size
908 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Building Details
Building Size
908 SF
Year Built
1983
Listing Agency:
The Plum Real Estate Group, LLC
Listed By:
George L Plum · License #0903493
(856) 537-5464
Source:
Patciervo.kw
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 6 at 4:05AM
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 The Plum Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This remodeled residential income property is an upper-level condominium in the La Bonne Vie community. The two-bedroom, two-full-bath layout includes an open main living area, a loft-style second bedroom, and a main-floor bedroom with a private balcony. The second bedroom can also serve as a home office. The residence was built in 1983 and has been refreshed with new flooring, a redesigned kitchen, quartz countertops, white cabinetry, a ceramic tile backsplash, stainless steel appliances, and recessed lighting.
Vaulted ceilings and skylights bring natural light into the living room and loft, while a wood-burning fireplace adds a defined gathering feature. Both bathrooms have been remodeled with tile finishes, glass shower doors, and updated vanities. The property is in Gloucester Township, with access to Route 42 and the Atlantic City Expressway for travel toward shore points and Center City Philadelphia.
Vaulted ceilings and skylights bring natural light into the living room and loft, while a wood-burning fireplace adds a defined gathering feature. Both bathrooms have been remodeled with tile finishes, glass shower doors, and updated vanities. The property is in Gloucester Township, with access to Route 42 and the Atlantic City Expressway for travel toward shore points and Center City Philadelphia.
Key Highlights
- Two‑bedroom, two‑full‑bath upper‑level condominium
- Remodeled kitchen with quartz countertops, ceramic tile backsplash, stainless steel appliances, and recessed lighting
- Loft‑style second bedroom with vaulted ceiling and skylights
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
$9,221
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
3.69%
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%
$184,420
$184.4K
Cap Rate 7%
$131,729
$131.7K
Cap Rate 9%
$102,456
$102.5K
Market Conditions
NOI Build-Up for 908 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
−$995 −$1.10/SF
EGI
$16.8K $18.46/SF
− OpEx
−$7.5K −$8.31/SF
NOI
$9.2K $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%
$184,420
Cap Rate 7%
$131,729
Cap Rate 9%
$102,456
Alternative Uses
Best Use
Apartment 5plus
$131.7K
$115.3K – $153.7K
NOI $9,221 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$230.2K
$201.5K – $268.6K
NOI $16,116 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 08081, NJ
50,601
Population
18,361
Households
2.8
Avg Household Size
39
Median Age
35%
College-Educated
94%
High-School Grad
25.2 sq mi
ZIP Area
2,008
Density / Sq Mi
$102,924
Median Household Income
$51,734
Median Earnings
$1,551
Median Rent
$262,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level condo with updated finishes, vaulted ceilings, skylights, and a wood-burning fireplace in La Bonne Vie.
Where is this residential income property located?
The property is located at 1004 BERWYCK COURT Sicklerville, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath upper‑level condominium; Remodeled kitchen with quartz countertops, ceramic tile backsplash, stainless steel appliances, and recessed lighting; Loft‑style second bedroom with vaulted ceiling and skylights
