Renovated Two-Bedroom
For Sale
$234,900
115 E KINGS HIGHWAY Unit 218, Maple Shade, NJ 08052
The second-floor residence has in-unit laundry, assigned parking, and access to a community pool.
Property Size1,136 SF
Price / SF$206.78
Days on Market97
Property Features for 115 E KINGS HIGHWAY Unit 218
General Information
Standard status
Active
Size
1,136 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,215
Amenities
assigned parking
pool
in-unit laundry
Building Details
Building Size
1,136 SF
Year Built
1972
Listing Agency:
Tesla Realty Group LLC
Listed By:
Lawrence E Sarlo · License #0896832
(609) 868-1171
Source:
Desantis-realestate
Added: Aug 1
Changed: Nov 2
Last Checked: Nov 5 at 7:53AM
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 Tesla Realty Group LLC
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Investment Insights
Based on property information with market context.
This 1,136-square-foot, second-floor condominium has two bedrooms, one full bathroom, and an open floor plan. Renovated in 2026, the unit features new HVAC, appliances, kitchen cabinets, flooring, and bathroom finishes. Luxury vinyl plank runs through the interior, with tile in the kitchen and bathroom; in-unit laundry and multiple closets provide additional convenience and storage.
The Watergate community has a fenced pool, assigned resident parking, and nearby visitor parking. Heat, water, sewer, pool access, and trash are included in the HOA fee. The community is near shopping, restaurants, entertainment, and parks.
The Watergate community has a fenced pool, assigned resident parking, and nearby visitor parking. Heat, water, sewer, pool access, and trash are included in the HOA fee. The community is near shopping, restaurants, entertainment, and parks.
Key Highlights
- 1,136‑square‑foot second‑floor condominium
- Two bedrooms and one full bathroom
- Renovated in 2026 with new HVAC, appliances, kitchen cabinets, flooring, and bathroom finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,469
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,380
$349.4K
Cap Rate 7%
$249,557
$249.6K
Cap Rate 9%
$194,100
$194.1K
Market Conditions
NOI Build-Up for 1,136 SF
Gross rent
$34.1K $30.00/SF
− Vacancy
−$2.3K −$2.04/SF
EGI
$31.8K $27.96/SF
− OpEx
−$14.3K −$12.58/SF
NOI
$17.5K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,380
Cap Rate 7%
$249,557
Cap Rate 9%
$194,100
Alternative Uses
Best Use
Apartment 5plus
$249.6K
$218.4K – $291.2K
NOI $17,469 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$296.6K
$259.6K – $346.1K
NOI $20,764 @ 7.0% cap · market cap 8.84%
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
563
Businesses Nearby
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Business Placement
Demographics for 08052, NJ
20,003
Population
9,401
Households
2.1
Avg Household Size
38
Median Age
34%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,264
Density / Sq Mi
$75,732
Median Household Income
$49,963
Median Earnings
$1,574
Median Rent
$235,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The second-floor residence has in-unit laundry, assigned parking, and access to a community pool.
Where is this residential income property located?
The property is located at 115 E KINGS HIGHWAY Unit 218 Maple Shade, NJ.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,136‑square‑foot second‑floor condominium; Two bedrooms and one full bathroom; Renovated in 2026 with new HVAC, appliances, kitchen cabinets, flooring, and bathroom finishes
