Renovated Residential Income
For Sale
$189,900
Pending
121 KENWOOD DRIVE, Sicklerville, NJ 08081
Second-level condominium with refreshed interiors, private patio access, and association-maintained exterior services.
Property Size912 SF
Days on Market89
Property Features for 121 KENWOOD DRIVE
General Information
Standard status
Pending
Size
912 SF
Property subtype
Apartment
Units
Unit Mix
2BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
private patio
Building Details
Building Size
912 SF
Year Built
1990
Listing Agency:
SRV Realty LLC
Listed By:
Kumara Sadaram
(973) 714-2763
Source:
Patciervo.kw
Added: Jun 7
Changed: Aug 31
Last Checked: Sep 2 at 1:29PM
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 SRV Realty LLC
Investment Insights
Based on property information with market context.
This second-level condominium offers a two-bedroom, one-bath layout with a renovated interior and an open connection between the living and dining areas. Updates include luxury vinyl plank flooring, a remodeled bathroom with new fixtures, fresh paint, contemporary lighting, and updated hardware. Sliding doors open to a private patio, while the kitchen provides substantial cabinetry and a breakfast bar.
The Kenwood community is in Sicklerville, with access to Route 42, the Atlantic City Expressway, and the NJ Turnpike. Shopping and dining are located nearby. The HOA includes exterior building maintenance, lawn care, snow removal, and trash service. The property was built in 1990, and conventional financing or cash is accepted.
The Kenwood community is in Sicklerville, with access to Route 42, the Atlantic City Expressway, and the NJ Turnpike. Shopping and dining are located nearby. The HOA includes exterior building maintenance, lawn care, snow removal, and trash service. The property was built in 1990, and conventional financing or cash is accepted.
Key Highlights
- Two‑bedroom, one‑bath second‑level condominium
- Renovated bathroom with new fixtures and refreshed interior finishes
- Private patio accessed through sliding doors from the living and dining area
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
$9,262
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
4.88%
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%
$185,240
$185.2K
Cap Rate 7%
$132,314
$132.3K
Cap Rate 9%
$102,911
$102.9K
Market Conditions
NOI Build-Up for 912 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
$17.8K $19.56/SF
− Vacancy
−$999 −$1.10/SF
EGI
$16.8K $18.46/SF
− OpEx
−$7.6K −$8.31/SF
NOI
$9.3K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /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%
$185,240
Cap Rate 7%
$132,314
Cap Rate 9%
$102,911
Alternative Uses
Best Use
Apartment 5plus
$132.3K
$115.8K – $154.4K
NOI $9,262 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.2K
$202.3K – $269.8K
NOI $16,187 @ 7.0% cap · market cap 8.52%
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
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 08081, NJ
50,601
Population
18,361
Households
2.8
Avg Household Size
39
Median Age
35%
College-Educated
94%
High-School Grad
25.2 sq mi
ZIP Area
2,008
Density / Sq Mi
$102,924
Median Household Income
$51,734
Median Earnings
$1,551
Median Rent
$262,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-level condominium with refreshed interiors, private patio access, and association-maintained exterior services.
Where is this residential income property located?
The property is located at 121 KENWOOD DRIVE Sicklerville, NJ.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bath second‑level condominium; Renovated bathroom with new fixtures and refreshed interior finishes; Private patio accessed through sliding doors from the living and dining area
