Updated Two-Bedroom
109 DELAMERE DRIVE #4, Princeton, NJ 08540
For Sale
New
$475,000
A covered porch, in-unit laundry, and shared pool and tennis amenities complement the single-level residence.
Property Size1,258 SF
Price / SF$377.58
Days on Market5
Property Features for 109 DELAMERE DRIVE #4
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Amenities
swimming pool
tennis courts
Building Details
Year Built
Listing Agency:
Callaway Henderson Sotheby's Int'l-Princeton
(609) 921-1050
Listed By:
Victoria Holly · License #1755806
(201) 790-1939
Source:
Cummingsrealtors
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 at 5:39PM
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 Callaway Henderson Sotheby's Int'l-Princeton
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Investment Insights
Based on property information with market context.
This 1,258-square-foot condominium has a single-level layout with two bedrooms set apart from the main living areas. Living and dining rooms connect around a two-sided fireplace, and sliding doors lead to a covered porch with a storage closet. The dine-in kitchen features ForeverMark cabinetry, quartz countertops, and tile. Updates include new flooring in nearly every room and refreshed kitchen and bathroom finishes. The primary suite has a walk-in closet and private bathroom; the guest bedroom and hallway each offer a double closet. A walk-in utility closet contains the laundry.
Community amenities include a swimming pool and tennis courts. The property is at 109 Delamere Drive in Princeton, New Jersey, near MarketFair, downtown Princeton, and Princeton University.
Community amenities include a swimming pool and tennis courts. The property is at 109 Delamere Drive in Princeton, New Jersey, near MarketFair, downtown Princeton, and Princeton University.
Key Highlights
- 1,258‑square‑foot condominium built in 1989
- Two bedrooms, including a primary suite with walk‑in closet and private bath
- Covered porch with a dedicated storage closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,200
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,000
$384.0K
Cap Rate 7%
$274,286
$274.3K
Cap Rate 9%
$213,333
$213.3K
Market Conditions
NOI Build-Up for 1,258 SF
Gross rent
$37.7K $30.00/SF
− Vacancy
−$2.8K −$2.25/SF
EGI
$34.9K $27.75/SF
− OpEx
−$15.7K −$12.49/SF
NOI
$19.2K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,000
Cap Rate 7%
$274,286
Cap Rate 9%
$213,333
Alternative Uses
Best Use
Apartment 5plus
$274.3K
$240.0K – $320.0K
NOI $19,200 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
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Business Placement
Demographics for 08540, NJ
48,216
Population
19,255
Households
2.5
Avg Household Size
41
Median Age
82%
College-Educated
98%
High-School Grad
51.7 sq mi
ZIP Area
933
Density / Sq Mi
$169,898
Median Household Income
$80,357
Median Earnings
$2,083
Median Rent
$723,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Mercer County, NJ
Properties on Market for Residential income properties in Mercer County
Frequently Asked Questions
What type of property is this?
Residential income property - A covered porch, in-unit laundry, and shared pool and tennis amenities complement the single-level residence.
Where is this residential income property located?
The property is located at 109 DELAMERE DRIVE #4 Princeton, NJ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,258‑square‑foot condominium built in 1989; Two bedrooms, including a primary suite with walk‑in closet and private bath; Covered porch with a dedicated storage closet
