First-Floor Residential Income
For Sale
$250,000
1205 MEGANS LANE, Burlington, NJ 08016
A 908-square-foot condo offers stair-free access from the parking area and a covered patio with an exterior storage closet.
Property Size908 SF
Price / SF$275.33
Days on Market89
Property Features for 1205 MEGANS LANE
General Information
Standard status
Active
Size
908 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,260
Building Details
Building Size
908 SF
Year Built
1986
Listing Agency:
Action USA Jay Robert Realtors
Listed By:
David M Ricigliano · License #124816
(609) 577-6227
Source:
Desantis-realestate
Added: Jul 31
Changed: Oct 26
Last Checked: Oct 26 at 2:45PM
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 Action USA Jay Robert Realtors
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Investment Insights
Based on property information with market context.
This 908-square-foot condo, built in 1986, is arranged on one level with direct access from the parking area and a covered patio. Cathedral ceilings open up the interior, which features updated flooring, paint, kitchen, and full bathroom. The kitchen includes granite counters, tile backsplash, breakfast bar, and stainless steel appliances. A wood-burning fireplace anchors the living room, and the primary bedroom connects directly to the bathroom. Storage includes several closets and a floored attic reached by a pull-down staircase.
The HVAC system was replaced in 2012. The property is described as compatible with VA financing, and income restrictions apply. I-295, Routes 541 and 130, and the New Jersey Turnpike are nearby, along with shopping, restaurants, and medical offices.
The HVAC system was replaced in 2012. The property is described as compatible with VA financing, and income restrictions apply. I-295, Routes 541 and 130, and the New Jersey Turnpike are nearby, along with shopping, restaurants, and medical offices.
Key Highlights
- 908‑square‑foot condo built in 1986
- One‑level layout with access from the parking area and a covered patio
- Updated kitchen with granite countertops, tile backsplash, breakfast bar, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,893
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,860
$237.9K
Cap Rate 7%
$169,900
$169.9K
Cap Rate 9%
$132,144
$132.1K
Market Conditions
NOI Build-Up for 908 SF
Gross rent
$22.9K $25.20/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$21.6K $23.81/SF
− OpEx
−$9.7K −$10.72/SF
NOI
$11.9K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,860
Cap Rate 7%
$169,900
Cap Rate 9%
$132,144
Alternative Uses
Best Use
Apartment 5plus
$169.9K
$148.7K – $198.2K
NOI $11,893 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.90M
$1.66M – $2.22M
NOI $132,935 @ 7.0% cap · market cap 53.17%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 08016, NJ
34,617
Population
13,842
Households
2.5
Avg Household Size
41
Median Age
34%
College-Educated
92%
High-School Grad
21.6 sq mi
ZIP Area
1,603
Density / Sq Mi
$92,560
Median Household Income
$49,919
Median Earnings
$1,343
Median Rent
$308,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A 908-square-foot condo offers stair-free access from the parking area and a covered patio with an exterior storage closet.
Where is this residential income property located?
The property is located at 1205 MEGANS LANE Burlington, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 908‑square‑foot condo built in 1986; One‑level layout with access from the parking area and a covered patio; Updated kitchen with granite countertops, tile backsplash, breakfast bar, and stainless steel appliances
