Two-Bedroom Residential Income
For Sale
$255,000
109 AVIGNON WAY, Pennsauken, NJ 08109
Low-maintenance condo with an open interior, private covered balcony, and included household appliances.
Property Size1,179 SF
Days on Market10
Property Features for 109 AVIGNON WAY
General Information
Standard status
Active
Size
1,179 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$5,034
Building Details
Building Size
1,179 SF
Year Built
1984
Listing Agency:
Keller Williams Realty - Washington Township
(856) 304-5927
Listed By:
Gregory Petrelli · License #1542202
(856) 304-5927
Source:
Patmckennarealtors
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 11:35AM
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 Keller Williams Realty - Washington Township
Investment Insights
Based on property information with market context.
This 1,179-square-foot condominium in the Avignon community offers two bedrooms and 1.5 bathrooms within a low-maintenance residential setting. The interior combines hardwood flooring, crown molding, and an open living and dining arrangement. A covered private balcony extends the living area toward surrounding green space. The kitchen includes granite counters, mosaic tile backsplash, ample cabinetry, and a pass-through to the main room. A refrigerator, stove, microwave, dishwasher, washer, and dryer are included.
Central air and forced-air heat serve the unit, with public water and sewer in place. Residents have parking lot access and an exterior storage closet. The monthly condo association fee covers common-area maintenance, exterior building maintenance, snow removal, and trash service. Built in 1984, the property is in Pennsauken with access to shopping, dining, major roadways, and nearby Philadelphia.
Central air and forced-air heat serve the unit, with public water and sewer in place. Residents have parking lot access and an exterior storage closet. The monthly condo association fee covers common-area maintenance, exterior building maintenance, snow removal, and trash service. Built in 1984, the property is in Pennsauken with access to shopping, dining, major roadways, and nearby Philadelphia.
Key Highlights
- 1,179 SF condominium with 2 bedrooms and 1.5 bathrooms
- Private covered balcony facing surrounding green space
- Granite kitchen counters, mosaic tile backsplash, and pass‑through to living area
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
$11,973
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
4.70%
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%
$239,460
$239.5K
Cap Rate 7%
$171,043
$171.0K
Cap Rate 9%
$133,033
$133.0K
Market Conditions
NOI Build-Up for 1,179 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
$23.1K $19.56/SF
− Vacancy
−$1.3K −$1.10/SF
EGI
$21.8K $18.46/SF
− OpEx
−$9.8K −$8.31/SF
NOI
$12.0K $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%
$239,460
Cap Rate 7%
$171,043
Cap Rate 9%
$133,033
Alternative Uses
Best Use
Apartment 5plus
$171.0K
$149.7K – $199.6K
NOI $11,973 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.9K
$261.6K – $348.8K
NOI $20,926 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 08109, NJ
23,306
Population
9,314
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
4,855
Density / Sq Mi
$84,332
Median Household Income
$44,288
Median Earnings
$1,142
Median Rent
$227,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Low-maintenance condo with an open interior, private covered balcony, and included household appliances.
Where is this residential income property located?
The property is located at 109 AVIGNON WAY Pennsauken, NJ.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,179 SF condominium with 2 bedrooms and 1.5 bathrooms; Private covered balcony facing surrounding green space; Granite kitchen counters, mosaic tile backsplash, and pass‑through to living area
