Residential Income Property with Updated
For Sale
$140,000
101 DARTMOUTH AVENUE, Somerdale, NJ 08083
Lower-level condominium with two bedrooms, in-unit laundry, and refreshed finishes throughout.
Property Size748 SF
Days on Market97
Property Features for 101 DARTMOUTH AVENUE
General Information
Standard status
Active
Size
748 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,039
Building Details
Building Size
748 SF
Year Built
1970
Listing Agency:
RE/MAX ONE Realty-Moorestown
(609) 417-3619
Listed By:
Rebecca Holland · License #9035134
(609) 417-3619
Source:
Brucerealty
Added: May 18
Changed: Aug 21
Last Checked: Aug 21 at 11:01AM
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 RE/MAX ONE Realty-Moorestown
Investment Insights
Based on property information with market context.
This lower-level end-unit condominium, built in 1970, offers two bedrooms and two walk-in closets. The kitchen has stainless steel appliances, granite countertops, a dishwasher, disposal, and a deep stainless-steel sink. A separate dining area adds definition to the interior layout, while laminate vinyl plank flooring and fresh paint extend throughout the unit. Full-size laundry equipment is located inside the residence.
Heat and water are included through the HOA. The association does not permit dogs, a restriction that should be considered when evaluating the property. The residence is located at 101 Dartmouth Avenue in Somerdale, New Jersey.
Heat and water are included through the HOA. The association does not permit dogs, a restriction that should be considered when evaluating the property. The residence is located at 101 Dartmouth Avenue in Somerdale, New Jersey.
Key Highlights
- Lower‑level end‑unit condominium with 2 bedrooms
- Updated kitchen with stainless steel appliances and granite countertops
- 2 walk‑in closets provide additional storage
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
$7,596
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
5.43%
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%
$151,920
$151.9K
Cap Rate 7%
$108,514
$108.5K
Cap Rate 9%
$84,400
$84.4K
Market Conditions
NOI Build-Up for 748 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
$14.6K $19.56/SF
− Vacancy
−$819 −$1.10/SF
EGI
$13.8K $18.46/SF
− OpEx
−$6.2K −$8.31/SF
NOI
$7.6K $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%
$151,920
Cap Rate 7%
$108,514
Cap Rate 9%
$84,400
Alternative Uses
Best Use
Apartment 5plus
$108.5K
$95.0K – $126.6K
NOI $7,596 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$189.7K
$166.0K – $221.3K
NOI $13,276 @ 7.0% cap · market cap 9.48%
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
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 08083, NJ
9,888
Population
3,973
Households
2.5
Avg Household Size
41
Median Age
28%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
3,955
Density / Sq Mi
$87,703
Median Household Income
$47,138
Median Earnings
$1,236
Median Rent
$254,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lower-level condominium with two bedrooms, in-unit laundry, and refreshed finishes throughout.
Where is this residential income property located?
The property is located at 101 DARTMOUTH AVENUE Somerdale, NJ.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Lower‑level end‑unit condominium with 2 bedrooms; Updated kitchen with stainless steel appliances and granite countertops; 2 walk‑in closets provide additional storage
