Penthouse Residential
New
For Sale
$399,900
119 COMMONWEALTH Unit 9, Princeton, NJ 08540
The unit features vaulted ceilings, a fireplace, and an updated kitchen with Miele appliances.
Property Size1,008 SF
Days on Market7
Property Features for 119 COMMONWEALTH Unit 9
General Information
Standard status
Active
Size
1,008 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,728
Amenities
Outdoor Pool
Tennis Courts
Clubhouse
snow removal
trash removal
lawn service
Building Details
Building Size
1,008 SF
Year Built
1997
Listing Agency:
BHHS Fox & Roach - Perrineville
Listed By:
Robin Cittone · License #SP0674719
(609) 647-8659
Source:
Patmckennarealtors
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 5 at 9:13PM
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 BHHS Fox & Roach - Perrineville
Investment Insights
Based on property information with market context.
This Arbor Penthouse model features a kitchen with Miele appliances and granite countertops, plus a dining area oriented toward tree cover and the community pool. Vaulted ceilings frame the living space, which includes a fireplace. The primary bedroom has a custom closet system and stackable washer and dryer; its bathroom offers a double-sink vanity and a newer tub and shower. The property was built in 1997.
Residents have access to an outdoor pool, tennis courts, and a clubhouse. Snow removal, trash service, and lawn care are also included. The Canal Pointe community is within walking distance of a mall, restaurants, and the canal trail. Downtown Princeton is 1.5 miles away, and McCarter Theatre is nearby.
Residents have access to an outdoor pool, tennis courts, and a clubhouse. Snow removal, trash service, and lawn care are also included. The Canal Pointe community is within walking distance of a mall, restaurants, and the canal trail. Downtown Princeton is 1.5 miles away, and McCarter Theatre is nearby.
Key Highlights
- Arbor Penthouse model with vaulted ceilings and a fireplace
- Kitchen with Miele appliances and granite countertops
- Primary bedroom includes a custom closet system and stackable washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,385
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,700
$307.7K
Cap Rate 7%
$219,786
$219.8K
Cap Rate 9%
$170,944
$170.9K
Market Conditions
NOI Build-Up for 1,008 SF
Gross rent
$30.2K $30.00/SF
− Vacancy
−$2.3K −$2.25/SF
EGI
$28.0K $27.75/SF
− OpEx
−$12.6K −$12.49/SF
NOI
$15.4K $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%
$307,700
Cap Rate 7%
$219,786
Cap Rate 9%
$170,944
Alternative Uses
Best Use
Apartment 5plus
$219.8K
$192.3K – $256.4K
NOI $15,385 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$324.3K
$283.8K – $378.4K
NOI $22,702 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Residential income property - The unit features vaulted ceilings, a fireplace, and an updated kitchen with Miele appliances.
Where is this residential income property located?
The property is located at 119 COMMONWEALTH Unit 9 Princeton, NJ.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Arbor Penthouse model with vaulted ceilings and a fireplace; Kitchen with Miele appliances and granite countertops; Primary bedroom includes a custom closet system and stackable washer and dryer
