Residential Income Property with
For Sale
$280,000
11 Lehavre Court, Trenton, NJ 08619
Maintained condo with an open layout, private outdoor space, and access to community amenities.
Property Size1,005 SF
Price / SF$278.61
Days on Market266
Property Features for 11 Lehavre Court
General Information
Standard status
Active
Size
1,005 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,109
Amenities
community pool
clubhouse
tennis courts
dedicated laundry room
outdoor closet
large private patio
Central Air, Ceiling Fan(s)
3
Hardwood
Laundry Hookup
Owner Pays Cable
Pool
Asphalt
RES
Parking.
Lot.
Vinyl
Community Pool
Building Details
Year Built
1989
Stories
1
Listing Agency:
(609) 459-5100
Listed By:
Keller Williams Premier
(609) 577-1564
Source:
Xome
Added: Dec 13, 2025
Changed: Sep 4
Last Checked: Aug 31 at 2:53PM
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 Premier
Investment Insights
Based on property information with market context.
This residential income property is a maintained condo at 11 Lehavre Court in Trenton, New Jersey. The approximately 1,005-square-foot interior offers an open layout, a recently renovated primary en-suite, dedicated laundry room, central air, ceiling fan(s), and hardwood flooring. A private patio and outdoor closet provide additional usable space, while the water heater is 2 years old.
Society Hill II includes a community pool, clubhouse, and tennis courts. The HOA covers exterior maintenance, landscaping, snow removal, and trash. The property is near major highways, shopping, dining, and public transportation, with parking available on the property.
Society Hill II includes a community pool, clubhouse, and tennis courts. The HOA covers exterior maintenance, landscaping, snow removal, and trash. The property is near major highways, shopping, dining, and public transportation, with parking available on the property.
Key Highlights
- Approximately 1,005 square feet with an open interior layout
- Recently renovated primary en‑suite
- Private patio plus outdoor storage closet
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
$15,339
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
5.48%
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%
$306,780
$306.8K
Cap Rate 7%
$219,129
$219.1K
Cap Rate 9%
$170,433
$170.4K
Market Conditions
NOI Build-Up for 1,005 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
$30.2K $30.00/SF
− Vacancy
−$2.3K −$2.25/SF
EGI
$27.9K $27.75/SF
− OpEx
−$12.5K −$12.49/SF
NOI
$15.3K $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 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%
$306,780
Cap Rate 7%
$219,129
Cap Rate 9%
$170,433
Alternative Uses
Best Use
Apartment 5plus
$219.1K
$191.7K – $255.7K
NOI $15,339 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$323.3K
$282.9K – $377.2K
NOI $22,634 @ 7.0% cap · market cap 8.08%
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
881
Businesses Nearby
Explore this area
Business Placement
Demographics for 08619, NJ
23,301
Population
9,761
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,330
Density / Sq Mi
$104,922
Median Household Income
$56,772
Median Earnings
$1,712
Median Rent
$320,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Maintained condo with an open layout, private outdoor space, and access to community amenities.
Where is this residential income property located?
The property is located at 11 Lehavre Court Trenton, NJ.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Approximately 1,005 square feet with an open interior layout; Recently renovated primary en‑suite; Private patio plus outdoor storage closet
